<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
January 30, 1998
(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 January 1, 1998
providing for the issuance of
$1,119,718,936.60
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1998-1
Delaware 333-38121 36-4207957
(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 January 29, 1998 (the "Closing Date"), PNC Mortgage Securities Corp.
(the "Company"), pursuant to a pooling and servicing agreement, dated as of
January 1, 1998, 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 1998-1, to be issued (the "Certificates") which consist
of the following sixty-six classes: (i) Class I-A-1, Class I-A-2 and Class
I-A-3 (together with Component II-A-1-5 (as defined in the Prospectus
Supplement) the "Group I-A Certificates"), (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, Class II-A-10 and Class II-A-11 (other than Component
II-A-1-5, the "Group II-A Certificates"), (iii) Class III-A-1, (iv) Class
IV-A-1, (v) Class V-A-1, Class V-A-2, Class V-A-3, Class V-A-4, Class V-A-5,
Class V-A-6, Class V-A-7, Class V-A-8 and Class V-A-9 (the "Group V-A
Certificates" and, together with the Group I-A, Group II-A, Class III-A-1 and
Class IV-A-1 Certificates, the "Class A Certificates"), (vi) Class I-P, Class
III-P and Class IV-P (the "Class P Certificates"), (vii) Class I-X, Class
II-X, Class III-X and Class IV-X (the "Class X Certificates"), (viii) Class
I-B-1, Class I-B-2 and Class I-B-3 (the "Group I Senior Subordinate
Certificates"), (ix) 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"), (x) Class II-B-1,
Class II-B-2 and Class II-B-3 (the "Group II Senior Subordinate
Certificates"), (xi) 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"), (xii) Class
III-B-1, Class III-B-2 and Class III-B-3 (the "Group III Senior Subordinate
Certificates"), (xiii) Class III-B-4, Class III-B-5 and Class III-B-6 (the
"Group III Junior Subordinate Certificates" and, together with the Group III
Senior Subordinate Certificates, the "Group III-B Certificates"), (xiv) Class
IV-B-1, Class IV-B-2 and Class IV-B-3 (the "Group IV Senior Subordinate
Certificates"), (xv) Class IV-B-4, Class IV-B-5 and Class IV-B-6 (the "Group
IV Junior Subordinate Certificates" and, together with the Group IV Senior
Subordinate Certificates, the "Group IV-B Certificates"), (xvi) Class V-B-1,
Class V-B-2, Class V-B-3 and Class V-B-IO (the "Group V Senior Subordinate
Certificates"), (xvii) Class V-B-4, Class V-B-5 and Class V-B-6 (the "Group V
Junior Subordinate Certificates" and, together with the Group V Senior
Subordinate Certificates, the "Group V-B Certificates") and (xviii) Class R,
Class R-1 and Class R-2 (the "Residual Certificates" and, together with the
Class A, Class X and Class P Certificates, the "Senior Certificates"). The
Class I-A-3, Class V-A-4 and Class V-A-9 Certificates are sometimes referred
to as the "Lockout 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 January 28, 1998, of PNC Mortgage Securities Corp.,
relating to its Mortgage Pass-Through Certificates, Series 1998-1.
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The Group I-A, Class I-P, Class I-X, Group I-B, Class R and Class R-1
Certificates are sometimes referred to as the "Group I Certificates", the
Group II-A, Class II-X and Group II-B Certificates are sometimes referred to
as the "Group II Certificates", the Class III-A-1, Class III-P, Class III-X
and Group III-B Certificates are sometimes referred to as the "Group III
Certificates", the Class IV-A-1, Class IV-P, Class IV-X and Group IV-B
Certificates are sometimes referred to as the "Group IV Certificates" and the
Group V-A, Group V-B and Class R-2 Certificates are sometimes referred to as
the "Group V Certificates". The Group I Certificates, the Group II
Certificates, the Group III Certificates, the Group IV Certificates and the
Group V Certificates are each a "Certificate Group". The Group I, Group II,
Group III, Group IV and Group V Senior Subordinate Certificates are
collectively referred to as the "Senior Subordinate Certificates". The Group
I, Group II, Group III, Group IV and Group V Junior Subordinate Certificates
are collectively referred to as the "Junior Subordinate Certificates". The
Group I-B, Group II-B, Group III-B, Group IV-B and Group V-B Certificates are
collectively referred to as the "Subordinate Certificates" or "Class B
Certificates". Only the Senior Certificates (other than the Class II-A-1
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 January 28, 1998 (the "Prospectus Supplement", and together
with the Base Prospectus, the "Prospectus"). The Class II-A-1 and the Junior
Subordinate Certificates are not offered pursuant to the Prospectus.
The Certificates, other than the Class R-1 and Class R-2 Certificates,
evidence all the beneficial ownership interest in a trust (the "Certificate
Trust") established by the Company, the assets of which, together with the
Class R-1 and Class R-2 Certificates described below, evidence all the
beneficial ownership interest in two other trusts (the "Mortgage Trust" and
the "Group V Trust") also established by the Company. The Mortgage Trust and
the Group V Trust 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, Inc., in such capacity, a "Master Servicer"). The Mortgage Pool (as
described in the Prospectus) consists of five groups of Mortgage Loans ("Loan
Group I", "Loan Group II", "Loan Group III", "Loan Group IV" and "Loan Group
V", 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", the Mortgage
Loans in Loan Group III are sometimes referred to as the "Group III Loans",
the Mortgage Loans in Loan Group IV are sometimes referred to as the "Group
IV Loans" and the Mortgage Loans in Loan Group V are sometimes referred to as
the "Group V Loans". The Group I Certificates 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 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 correspond to the
Group III Loans, which consist of fixed-rate Mortgage Loans with terms
to maturity of not more than 30 years; the Group IV Certificates correspond
3
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to the Group IV Loans, which consist of fixed-rate Mortgage Loans
with terms to maturity of not more than 15 years; and the Group V
Certificates correspond to the Group V Loans, which consist of fixed-rate
Mortgage Loans with terms to maturity of not more than 30 years.
Distributions of interest and principal on the Group I Certificates, the
Group II Certificates, the Group III Certificates, the Group IV Certificates
and the Group V Certificates will be solely based on interest and principal
received or advanced with respect to the Group I Loans, Group II Loans, Group
III Loans, Group IV Loans and Group V Loans, respectively; provided, however,
that the Class V-A-7 Certificates may also receive distributions from the
Class V-A-7 Reserve Fund (as defined in the Prospectus Supplement). 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 elections to be made to treat the Group V Trust,
Mortgage Trust and the Certificate Trust, other than the Class V-A-7 Reserve
Fund, as "real estate mortgage investment conduits" (each, a "REMIC") for
federal income tax purposes. All of the certificates issued by the Group V
Trust, the Mortgage Trust and the Certificate Trust, other than the Class R-2,
Class R-1 and Class R Certificates, represent ownership of REMIC "regular
interests". The Class R Certificates, the Class R-1 Certificates and the Class
R-2 Certificates represent ownership of the REMIC "residual interest" in the
Certificate Trust, the Mortgage Trust and the Group V Trust, respectively. See
"Certain Federal Income Tax Consequences" in the Prospectus Supplement and in
the Prospectus.
The Offered Certificates, other than the Class R-1 and Class R-2
Certificates, evidence interests only in the Certificate Trust and are payable
solely from amounts received with respect thereto. The Class R-1 Certificates
evidence the residual interests only in the Mortgage Trust. The Class R-2
Certificates evidence the residual interests only in the Group V Trust.
The Company has the right to effect early retirement of the Certificates
under certain circumstances. See "Description of the Certificates - Optional
termination of the Mortgage Trust" in the Prospectus Supplement.
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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) TYPE DISTRIBUTION DATE
- ----- ----------------- ------------------- ---- -----------------
<S> <C> <C> <C> <C>
Class I-A-1 $378,000,000.00 7.000% Senior February 25, 2028
Class I-A-2 36,876,000.00 7.000% Senior February 25, 2028
Class I-A-3 27,339,558.00 7.000% Sr./Lockout February 25, 2028
Class II-A-2 -- 6.950% (2) Sr./PAC/Interest
Only February 25, 2028
Class II-A-3 14,650,000.00 7.150% Sr./TAC February 25, 2028
Class II-A-4 31,213,733.00 7.150% Senior February 25, 2028
Class II-A-5 10,630,000.00 6.750% Sr./PAC February 25, 2028
Class II-A-6 21,969,000.00 6.500% Sr./PAC February 25, 2028
Class II-A-7 8,500,000.00 7.150% (3) Sr./Accrual February 25, 2028
Class II-A-8 3,472,000.00 6.500% Sr./PAC February 25, 2028
Class II-A-9 46,123,000.00 6.500% Sr./PAC February 25, 2028
Class II-A-10 3,649,000.00 6.500% Sr./PAC February 25, 2028
Class II-A-11 -- 6.750% (4) Sr./PAC/Interest
Only February 25, 2028
Class III-A-1 122,441,779.00 7.000% Senior January 25, 2028
Class IV-A-1 144,382,781.00 6.750% Senior March 25, 2013
Class V-A-1 27,152,000.00 Variable Rate (5) Senior February 25, 2028
Class V-A-2 20,100,000.00 Variable Rate (6) Senior February 25, 2028
Class V-A-3 119,000,785.00 Variable Rate (7) Senior February 25, 2028
Class V-A-4 29,399,000.00 Variable Rate (8) Sr./Lockout February 25, 2028
Class V-A-5 -- 0.190805% (9) Sr./Interest Only February 25, 2028
Class V-A-6 -- 0.200% (10) Sr./Interest Only February 25, 2028
Class V-A-7 20,500,000.00 Variable Rate (11) Sr./Accrual February 25, 2028
Class V-A-8 -- 0.459194% (12) Sr./Interest Only February 25, 2028
Class V-A-9 10,499,000.00 Variable Rate (13) Sr. Support/
Lockout February 25, 2028
Class I-X -- 7.000% (14) Sr./Interest Only February 25, 2028
Class II-X -- 7.000% (15) Sr./Interest Only February 25, 2028
Class III-X -- 7.000% (16) Sr./Interest Only January 25, 2028
Class IV-X -- 6.750% (17) Sr./Interest Only March 25, 2013
Class I-P 514,812.80 (18) Sr./Principal Only February 25, 2028
Class III-P 306,989.77 (18) Sr./Principal Only January 25, 2028
Class IV-P 87,050.03 (18) Sr./Principal Only March 25, 2013
Class I-B-1 11,376,214.00 7.000% Sr. Subordinate February 25, 2028
Class I-B-2 4,356,848.00 7.000% Sr. Subordinate February 25, 2028
Class I-B-3 1,936,377.00 7.000% Sr. Subordinate February 25, 2028
Class II-B-1 5,704,501.00 7.000% Sr. Subordinate February 25, 2028
Class II-B-2 2,074,364.00 7.000% Sr. Subordinate February 25, 2028
Class II-B-3 1,140,900.00 7.000% Sr. Subordinate February 25, 2028
Class III-B-1 2,570,654.00 7.000% Sr. Subordinate January 25, 2028
Class III-B-2 1,349,593.00 7.000% Sr. Subordinate January 25, 2028
Class III-B-3 642,663.00 7.000% Sr. Subordinate January 25, 2028
Class IV-B-1 3,377,216.00 6.750% Sr. Subordinate March 25, 2013
Class IV-B-2 750,492.00 6.750% Sr. Subordinate March 25, 2013
Class IV-B-3 450,295.00 6.750% Sr. Subordinate March 25, 2013
Class V-B-1 4,356,405.00 Variable (19) Sr. Subordinate February 25, 2028
Class V-B-2 1,883,851.00 Variable (19) Sr. Subordinate February 25, 2028
Class V-B-3 941,925.00 Variable (19) Sr. Subordinate February 25, 2028
Class V-B-IO -- 0.200% (20) Sr. Sub/Interest
Only February 25, 2028
Class R 50.00 7.000% Sr./Residual February 25, 2028
Class R-1 50.00 7.000% Sr./Residual February 25, 2028
Class R-2 50.00 Variable (21) Sr./Residual February 25, 2028
</TABLE>
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(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 (as defined in the Prospectus Supplement) will
have accrued during the preceding calendar month at the applicable per
annum Remittance Rate.
(2) The Class II-A-2 Certificates will accrue interest on the Class II-A-2
Notional Amount. The "Class II-A-2 Notional Amount" for any Distribution
Date will equal the aggregate Class Principal Balance of the Class II-A-5,
Class II-A-6, Class II-A-8, Class II-A-9 and Class II-A-10 Certificates
immediately prior to such Distribution Date divided by 34.75. The Class
II-A-2 Notional Amount as of the Cut-Off Date (as defined in the Prospectus
Supplement) was approximately $2,470,302. The Class II-A-2 Certificates
are not entitled to receive any distributions of principal.
(3) On each Distribution Date on or before the Class II-A-7 Accretion
Termination Date (as defined in the Prospectus Supplement), an amount equal
to the Class II-A-7 Accrual Amount (as defined in the Prospectus
Supplement) will be added to the Class II-A-7 Principal Balance, and such
amount will be distributed as principal to Component II-A-1-2 (as defined
in the Prospectus Supplement) and certain Classes of Certificates as
described in the Prospectus Supplement and will not be distributed as
interest to the Class II-A-7 Certificates.
(4) The Class II-A-11 Certificates will accrue interest on the Class II-A-11
Notional Amount. The "Class II-A-11 Notional Amount" for any Distribution
Date will equal the aggregate Class Principal Balance of the Class II-A-6,
Class II-A-8, Class II-A-9 and Class II-A-10 Certificates immediately prior
to such Distribution Date divided by 27. The Class II-A-11 Notional Amount
as of the Cut-Off Date was approximately $2,785,666. The Class II-A-11
Certificates are not entitled to receive any distributions of principal.
(5) The Remittance Rate on the Class V-A-1 Certificates for any Distribution
Date will equal the weighted average (by principal balance) of the
Pass-Through Rates (as defined in the Prospectus Supplement) on the Group V
Loans (as defined in the Prospectus Supplement) as of the second preceding
Due Date (as defined in the Prospectus Supplement), or with respect to the
initial Distribution Date, as of the Cut-Off Date (the "Group V Weighted
Average Rate") minus 0.243820% per annum. The Group V Weighted Average
Rate as of the Cut-Off Date was equal to 7.303% per annum.
(6) The Remittance Rate on the Class V-A-2 Certificates for any Distribution
Date will equal the Group V Weighted Average Rate for such Distribution
Date minus 0.243820% per annum.
(7) The Remittance Rate on the Class V-A-3 Certificates for any Distribution
Date will equal the Group V Weighted Average Rate for such Distribution
Date minus 0.703014% per annum.
(8) The Remittance Rate on the Class V-A-4 Certificates for any Distribution
Date will equal the Group V Weighted Average Rate for such Distribution
Date minus 0.200% per annum.
(9) The Class V-A-5 Certificates will accrue interest on the Class V-A-5
Notional Amount. The "Class V-A-5 Notional Amount" for any Distribution
Date will equal the aggregate Class Principal Balance of the Class V-A-1,
Class V-A-2 and Class V-A-3 Certificates immediately prior to such
Distribution Date. The Class V-A-5 Certificates will not be entitled to
receive any distributions of principal.
(10) The Class V-A-6 Certificates will accrue interest on the Class V-A-6
Notional Amount. The "Class V-A-6 Notional Amount" for any Distribution
Date will equal the aggregate Class Principal Balance of the Class V-A-4
and Class V-A-9 Certificates immediately prior to such Distribution Date.
The Class V-A-6 Certificates will not be entitled to receive any
distributions of principal.
(11) The Remittance Rate on the Class V-A-7 Certificates for any Distribution
Date will equal the sum of (i) the Group V Weighted Average Rate and (ii)
the quotient, expressed as a percentage, derived by dividing (a) the excess
of the Group V Weighted Average Rate for such Distribution Date on the
aggregate Class Principal Balance of the Class V-A-1, Class V-A-2 and Class
V-A-3 Certificates over the interest required to be distributed to the
Class V-A-1, Class V-A-2, Class V-A-3, Class V-A-5 and Class V-A-8 by (b)
the Class V-A-7 Principal Balance on such Distribution Date; provided,
however, that on each Distribution Date on or before the Class V-A-7
Accretion Termination Date (as defined in the Prospectus Supplement), an
amount equal to the Class V-A-7 Accrual Amount (as defined in the
Prospectus Supplement) will be added to the Class V-A-7 Principal Balance,
and such amount will be distributed as principal to other Classes of
Certificates as described in the Prospectus Supplement and will not be
distributed as interest to the Class V-A-7 Certificates.
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(12) The Class V-A-8 Certificates will accrue interest on the Class V-A-8
Notional Amount. The "Class V-A-8 Notional Amount" for any Distribution
Date will equal the Class V-A-3 Principal Balance immediately prior to such
Distribution Date. The Class V-A-8 Certificates will not be entitled to
receive any distributions of principal.
(13) The Remittance Rate on the Class V-A-9 Certificates for any Distribution
Date will equal the Group V Weighted Average Rate for such Distribution
Date minus 0.200% per annum.
(14) The Class I-X Certificates will accrue interest on the Class I-X Notional
Amount (as defined in "Description of the Certificates - Distributions of
Interest" in the Prospectus Supplement). The Class I-X Notional Amount as
of the Cut-Off Date was approximately $30,923,611. The Class I-X
Certificates are not entitled to receive distributions of principal.
(15) 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 Supplement). The Class II-X Notional Amount as
of the Cut-Off Date was approximately $7,859,703. The Class II-X
Certificates are not entitled to receive distributions of principal.
(16) 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 Supplement). The Class III-X
Notional Amount as of the Cut-Off Date was approximately $11,361,426. The
Class III-X Certificates are not entitled to receive distributions of
principal.
(17) The Class IV-X Certificates will accrue interest on the Class IV-X Notional
Amount (as defined in "Description of the Certificates - Distributions of
Interest" in the Prospectus Supplement). The Class IV-X Notional Amount as
of the Cut-Off Date was approximately $20,757,947. The Class IV-X
Certificates are not entitled to receive distributions of principal.
(18) The Class I-P, Class III-P and Class IV-P Certificates are not entitled to
receive distributions of interest.
(19) The Remittance Rate on the Class V-B-1, Class V-B-2 and Class V-B-3
Certificates for any Distribution Date will each equal the Group V Weighted
Average Rate for such Distribution Date minus 0.200% per annum.
(20) The Class V-B-IO Certificates will accrue interest on the Class V-B-IO
Notional Amount. The "Class V-B-IO Notional Amount" for any Distribution
Date will equal the aggregate Class Principal Balance of the Class V-B-1,
Class V-B-2 and Class V-B-3 Certificates immediately prior to such
Distribution Date. The Class V-B-IO Certificates will receive interest
distributions in three portions concurrently with the interest
distributions to each of the Class V-B-1 Certificates, the Class V-B-2
Certificates and the Class V-B-3 Certificates, each such portion being
equal to the product of the Class V-B-IO Remittance Rate and the portion of
the Class V-B-1O Notional Amount represented by the Class V-B-1 Principal
Balance, Class V-B-2 Principal Balance and the Class V-B-3 Principal
Balance, respectively. Because the Class V-B-1, Class V-B-2 and
Class V-B-3 Certificates have different payment priorities, interest
accruing on each of the three portions of the Class V-B-IO Notional Amount
will have a different payment priority. See class (e) of "Description of
the Certificates - Priority of Distributions" in the Prospectus Supplement.
The Class V-B-IO Certificates are not entitled to receive any distributions
of principal.
(21) The Remittance Rate on the Class R-2 Certificates for any Distribution Date
equal the Group V Weighted Average Rate for such Distribution Date.
7
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The Mortgage Pool consists of Mortgage Loans having an aggregate
principal balance outstanding as of January 1, 1998 (the "Cut-Off Date"),
after deducting payments due on or before that date, of approximately
$1,205,643,342. The Group I Loans, Group II Loans, Group III Loans, Group IV
Loans and Group V Loans have an aggregate principal balance outstanding as of
the Cut-Off Date, after deducting payments due on or before that date, of
approximately $484,094,252, $207,436,432, $128,532,743, $150,098,527 and
$235,481,388, respectively. Certain of the risks of loss on certain mortgage
Loans will be covered up to specified limits by Primary Insurance Policies.
The Mortgage Loans are secured by first mortgages or first deeds
of trust or other similar security instruments creating first liens on one-
to four-family residential properties 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
October 1978 through March 1988, inclusive, and will have an original term to
maturity of not more than 30 years in the case of Group I, Group II, Group
III and Group V Loans and 15 years in the case of Group IV Loans.
LOAN GROUP I
As of the Cut-Off Date, the Mortgage Interest Rate on each Group I Loan
was not less than 6.625% and not more than 9.375% per annum. As of the
Cut-Off Date, the weighted average of the Mortgage Interest Rates on the
Group I Loans was approximately 7.734% per annum. As of the Cut-Off Date,
the Pass-Through Rate for each Group I Loan was not less than 6.325% and not
more than 9.085% per annum. As of the Cut-Off Date, the weighted average of
the Pass-Through Rates for the Group I Loans was approximately 7.440% per
annum. As of the Cut-Off Date, 1,497 of the Group I Loans with an aggregate
principal balance of $476,784,935 were PNC Loans, and 21 of the Group I Loans
with an aggregate principal balance of $7,309,317 were IndyMac Loans.
All of the Group I Loans have principal and interest payable on the
first day of each month (the "Due Date"). Two of the Group I Loans are
Buydown Loans. The latest original scheduled maturity of any Group I Loan is
January 2028. 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 355.6 months. At origination, based upon an appraisal of
the Mortgaged Property securing each Group I Loan, approximately 88.6% of the
Group I Loans had Loan-to-Value Ratios less than or equal to 80%, and
approximately 11.4% 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 7.43%. As
of the Cut-Off Date, the weighted average of the
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Loan-to-Value Ratios of the Group I Loans was approximately 74.2%. As of the
Cut-Off Date, approximately 11.4% of the Group I Loans were covered by a
Primary Insurance Policy. All 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 $215,000 nor more than $1,430,000, and the average principal balance of
the Group I Loans as of the Cut-Off Date was approximately $318,903.
Approximately 96.7% 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 2.7% 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 0.6% 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 including
one cooperative apartment in Hawaii. Except for Mortgage Loans with an
aggregate principal balance of $222,317 (which represents approximately 0.05%
of Loan Group I), none of the Group I Loans were delinquent more than once
during the past year and such delinquency lasted no more than 30 days. 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
$53,911,645 which was approximately 11.1% 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
69.8%. The aggregate principal balance of Group I Loans for which no income
information was stated or verified is approximately $5,652,028, which is
approximately 1.2% of Loan Group I. As of the Cut-Off Date, the weighted
average of the Loan-to-Value Ratios of such Group I Loans was approximately
70.8%.
Approximately 46.9% of the Group I Loans are secured by Mortgaged
Properties located in California; 5.0%, in New York; and no other single
state contains Mortgaged Properties securing more than 5.0% of the Group I
Loans. No more than 0.8% of the Group I Loans are secured by Mortgaged
Properties located in any one California zip code area, and no more than 0.5%
of the Group I Loans are secured by Mortgaged Properties located in any other
single zip code area. Approximately 51.8% of the Group I Loans were
originated for the purpose of refinancing existing mortgage debt, including
cash-out refinancings. Approximately 48.2% 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 6.875% and not more than 9.000% per annum. As of the
Cut-Off Date, the weighted average of the Mortgage Interest Rates on the
Group II Loans was approximately 7.861% per annum. As of the Cut-Off Date,
the Pass-Through Rate for each Group II Loan was not less than 6.575% and not
more than 8.710% per annum. As of the Cut-Off Date, the weighted average of
the Pass-Through Rates for the Group II Loans was approximately 7.569% per
annum. As of the Cut-Off Date, 544 of the Group
9
<PAGE>
II Loans with an aggregate principal balance of $206,628,278 were PNC Loans,
and 1 of the Group II Loans with an aggregate principal balance of $808,154
was an IndyMac Loan.
All of the Group II Loans have principal and interest payable on the Due
Date. One of the Group II Loans is a Buydown Loan. The latest original
scheduled maturity of any Group II Loan is January 2028. Each of the Group
II 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 II Loans was approximately 356.6 months. At
origination, based upon an appraisal of the Mortgaged Property securing each
Group II Loan, approximately 88.3% of the Group II Loans had Loan-to-Value
Ratios less than or equal to 80%, and approximately 11.7% of the Group II
Loans had Loan-to-Value Ratios greater than 80% but less than or equal to
95%. No Group II Loan had a Loan-to-Value Ratio as origination greater than
95%. At origination, the weighted average of the Loan-to-Value Ratios of the
Group II Loans was approximately 74.8%. As of the Cut-Off Date, the weighted
average of the Loan-to-Value Ratios of the Group II Loans was approximately
74.6%. As of the Cut-Off Date, approximately 11.8% of the Group II Loans
were covered by a Primary Insurance Policy. All 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 $215,650 nor more than $872,000, and the
average principal balance of the Group II Loans as of the Cut-Off Date was
approximately $380,617. Approximately 98.4% 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 1.4% 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 0.2% of the
Group II Loans were secured by Mortgaged Properties which were investor
properties of the related Mortgagors, based solely on such representations.
Approximately 1.4% of the Group II Loans were secured by interests in
cooperative apartments, including one cooperative apartment in California.
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
$29,611,019 which was approximately 14.3% 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 68.6%. The aggregate principal balance of Group II loans for
which no income information was obtained from the related Mortgagors or
verified is approximately $9,244,354, which is approximately 4.5% of Loan
Group II. As of the Cut-Off Date, the weighted average of the Loan-to-Value
Ratios of such Group II Loans was approximately 68.2%.
Approximately 40.9% of the Group II Loans are secured by Mortgaged
Properties located in California; 5.0%, in New York; and no other single
state contains Mortgaged Properties securing more than 5.0% of the Group II
Loans. No more than 2.0% of the Group II Loans are secured by Mortgaged
Properties located in any one California zip code area, and no more than 0.9%
of the Group II Loans are secured by Mortgaged Properties located in any
other single zip code area. Approximately 54.9% of the Group
10
<PAGE>
II Loans were originated for the purpose of refinancing existing mortgage
debt, including cash-out refinancings. Approximately 45.1% 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 6.600% and not more than 9.625% per annum. As of the
Cut-Off Date, the weighted average of the Mortgage Interest Rates on the
Group III Loans was approximately 7.897% per annum. As of the Cut-Off Date,
the Pass-Through Rate for each Group III Loan was not less than 6.300% and
not more than 9.335% per annum. As of the Cut-Off Date, the weighted average
of the Pass-Through Rates for the Group III Loans was approximately 7.602%
per annum. As of the Cut-Off Date, 1,060 of the Group III Loans with an
aggregate principal balance of $128,310,172 were PNC Loans, and 1 of the
Group III Loans with an aggregate principal balance of $222,571 was an
IndyMac Loan.
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 December 2027. Each of
the Group III 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 III Loans was approximately
343.2 months. At origination, based upon an appraisal of the Mortgaged
Property securing each Group III Loan, approximately 84.8% of the Group III
Loans had Loan-to-Value Ratios less than or equal to 80%, approximately 15.1%
of the Group III Loans had Loan-to-Value Ratios greater than 80% but less
than or equal to 95% and 0.1% of the Group III Loans 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 III Loans was approximately 74.8%.
As of the Cut-Off Date, the weighted average of the Loan-to-Value Ratios of
the Group III Loans was approximately 73.7%. As of the Cut-Off Date,
approximately 14.8% of the Group III Loans were covered by a Primary
Insurance Policy, except one Mortgage Loan with a principal balance as of the
Cut-Off Date of approximately $123,640. At origination, each Group III Loan
had a principal balance of not less than $14,400 nor more than $227,050, and
the average principal balance of the Group III Loans as of the Cut-Off Date
was approximately $121,143. Approximately 88.1% 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 2.7% 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 9.2% of the
Group III Loans were secured by Mortgaged Properties which were investor
properties of the related Mortgagors, based solely on such representations.
Approximately 1.2% of the Group III Loans are secured by interests in
cooperative apartments. Except for Mortgage Loans with an aggregate
principal balance of $334,818 (which represents approximately 0.3% of Loan
Group III), none of the Group III Loans were delinquent more than once during
the past year and such delinquency lasted no more than 30 days. 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
11
<PAGE>
was not required), which generally limit the original Loan-to-Value Ratio of
the Group III Loan, was approximately $38,158,796 which was approximately
29.7% 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 67.4%. The aggregate
principal balance of Group III Loans for which no income information was
obtained from the related Mortgagors or verified is approximately $2,667,894,
which was approximately 2.1% of Loan Group III. As of the Cut-Off Date, the
weighted average of the Loan-to-Value Ratios of such Group III Loans was
approximately 69.2%.
Approximately 18.9% of the Group III Loans are secured by Mortgaged
Properties located in California; 17.4%, in Florida; 5.2%, in New York; 5.1%,
in Michigan; 5.0%, in Texas; and no other single state contains Mortgaged
Properties securing more than 5% of the Group III Loans. No more than 0.5%
of the Group III Loans are secured by Mortgaged Properties located in any one
California zip code area, and no more than 1.1% of the Group III Loans are
secured by Mortgaged Properties located in any other single zip code area.
Approximately 48.2% of the Group III Loans were originated for the purpose of
refinancing existing mortgage debt, including cash-out refinancings.
Approximately 51.8% of the Group III Loans were originated for the purpose of
purchasing the Mortgaged Property.
LOAN GROUP IV
As of the Cut-Off Date, the Mortgage Interest Rate on each Group IV Loan
was not less than 6.375% and not more than 10.500% per annum. As of the
Cut-Off Date, the weighted average of the Mortgage Interest Rates on the
Group IV Loans was approximately 7.979% per annum. As of the Cut-Off Date,
the Pass-Through Rate for each Group IV Loan was not less than 6.075% and not
more than 10.200% per annum. As of the Cut-Off Date, the weighted average of
the Pass-Through Rates for the Group IV Loans was approximately 7.680% per
annum. As of the Cut-Off Date, 1,083 of the Group IV Loans with an aggregate
principal balance of approximately $98,675,716 were PNC Loans, and 614 of the
Group IV Loans with an aggregate principal balance of approximately
$51,422,811 were IndyMac Loans.
All of the Group IV Loans have principal and interest payable on the
first day of each month (the "Due Date"). None of the Group IV Loans are
Buydown Loans. The latest original scheduled maturity of any Group IV Loan
is February 2013. Each of the Group IV 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) of the Group
IV Loans was approximately 176.5 months. At origination, based upon an
appraisal of the Mortgaged Property securing each Group IV Loan,
approximately 91.7% of the Group IV Loans had Loan-to-Value Ratios less than
or equal to 80%, and approximately 8.3% of the Group IV Loans had
Loan-to-Value Ratios greater than 80% but less than or equal to 95%. No
Group IV 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 IV
Loans was approximately 67.6%. As of the Cut-Off Date, the weighted average
of the Loan-to-Value Ratios of the Group IV Loans was approximately 67.0%.
As of the Cut-Off Date, approximately 8.3% of the Group IV Loans were covered
by a Primary Insurance Policy. All of the Group IV Loans with Loan-to-Value
Ratios as
12
<PAGE>
of the Cut-Off Date in excess of 80% were covered by a Primary Insurance
Policy. At origination, each Group IV Loan had a principal balance of not
less than $9,200 nor more than $227,000, and the average principal balance of
the Group IV Loans as of the Cut-Off Date was approximately $88,449.
Approximately 71.9% of the Group IV 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 IV Loans, and approximately 3.4% of the
Group IV Loans were secured by owner-occupied Mortgaged Properties which were
second or vacation homes of the related Mortgagors, based solely on such
representations. Approximately 24.7% of the Group IV Loans were secured by
Mortgaged Properties which were investor properties of the related
Mortgagors, based solely on such representations. Approximately 0.4% of the
Group IV Loans were secured by interests in cooperative apartments. The
aggregate principal balance of Group IV Loans originated under reduced and no
documentation programs (including certain Group IV Loans for which
verification of income and deposits was not required), which generally limit
the original Loan-to-Value Ratio of the Group IV Loan, was approximately
$67,255,723 which was approximately 44.8% of Loan Group IV. As of the
Cut-Off Date, the weighted average of the Loan-to-Value Ratios of such Group
IV Loans originated under such reduced and no documentation programs was
approximately 63.8%. The aggregate principal balance of Group IV Loans for
which no income information was obtained from the related Mortgagors or
verified was approximately $18,864,189, which was approximately 12.6% of Loan
Group IV. As of the Cut-Off Date, the weighted average of the Loan-to-Value
Ratios of such Group IV Loans was approximately 62.7%.
Approximately 16.4% of the Group IV Loans are secured by Mortgaged
Properties located in California; 9.6%, in Texas; 9.0%, in Florida; 8.0% , in
New York; 5.9%, in Colorado; and no other single state contains Mortgaged
Properties securing more than 5.0% of the Group IV Loans. No more than 0.5%
of the Group IV Loans are secured by Mortgaged Properties located in any one
California zip code area, and no more than 0.5% of the Group IV Loans are
secured by Mortgaged Properties located in any other single zip code area.
Approximately 62.8% of the Group IV Loans were originated for the purpose of
refinancing existing mortgage debt, including cash-out refinancings.
Approximately 37.2% of the Group IV Loans were originated for the purpose of
purchasing the Mortgaged Property.
LOAN GROUP V
As of the Cut-Off Date, the Mortgage Interest Rate on each Group V Loan
was not less than 6.500% and not more than 9.000% per annum. As of the
Cut-Off Date, the weighted average of the Mortgage Interest Rates on the
Group V Loans was approximately 7.550% per annum. As of the Cut-Off Date,
the Pass-Through Rate for each Group V Loan was not less than 6.260% and not
more than 8.385% per annum. As of the Cut-Off Date, the weighted average of
the Pass-Through Rates for the Group V Loans was approximately 7.303% per
annum. As of the Cut-Off Date, all of the Group V Loans were PNC Loans.
All of the Group V Loans have principal and interest payable on the
first day of each month (the "Due Date"). None of the Group V Loans are
Buydown Loans. The latest original scheduled maturity of any Group V Loan is
January 2028. Each of the
13
<PAGE>
Group V 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 V Loans was approximately 330.3
months. At origination, based upon an appraisal of the Mortgaged Property
securing each Group V Loan, approximately 81.3% of the Group V Loans had
Loan-to-Value Ratios less than or equal to 80%, and approximately 18.7% of
the Group V Loans had Loan-to-Value Ratios greater than 80% but less than or
equal to 95%. No Group V 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 V Loans was approximately 74.8%. As of the Cut-Off Date,
the weighted average of the Loan-to-Value Ratios of the Group V Loans was
approximately 74.6%. As of the Cut-Off Date, approximately 18.7% of the
Group V Loans were covered by a Primary Insurance Policy. All of the Group V
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 V Loan had
a principal balance of not less than $227,500 nor more than $1,000,000, and
the average principal balance of the Group V Loans as of the Cut-Off Date was
approximately $331,197. Approximately 97.1% of the Group V 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 V Loans, and
approximately 2.5% of the Group V Loans were secured by owner-occupied
Mortgaged Properties which were second or vacation homes of the related
Mortgagors, based solely on such representations. Approximately 0.3% of the
Group V Loans were secured by Mortgaged Properties which were investor
properties of the related Mortgagors, based solely on such representations.
None of the Group V Loans were secured by interests in cooperative
apartments. The aggregate principal balance of Group V Loans originated under
reduced and no documentation programs (including certain Group V Loans for
which verification of income and deposits was not required), which generally
limit the original Loan-to-Value Ratio of the Group V Loan, was approximately
$1,071,397 which was approximately 0.5% of Loan Group V. As of the Cut-Off
Date, the weighted average of the Loan-to-Value Ratios of such Group V Loans
originated under such reduced and no documentation programs was approximately
59.2%.
Approximately 64.0% of the Group V Loans are secured by Mortgaged
Properties located in California; 6.2%, in New Jersey; and no other single
state contains Mortgaged Properties securing more than 5% of the Group V
Loans. No more than 1.7% of the Group V Loans are secured by Mortgaged
Properties located in any one California zip code area, and no more than 0.6%
of the Group V Loans are secured by Mortgaged Properties located in any other
single zip code area. Approximately 49.5% of the Group V Loans were
originated for the purpose of refinancing existing mortgage debt, including
cash-out refinancings. Approximately 50.5% of the Group V Loans were
originated for the purpose of purchasing the Mortgaged Property.
All of the Group V Loans are serviced by PHH Mortgage Corporation.
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 ranges from a minimum
of 0.040% to a maximum of 0.100%, with a weighted
14
<PAGE>
average of 0.044%. The Master Servicing Fee with respect to each Group II
Loan ranges from a minimum of 0.040% to a maximum of 0.100%, with a weighted
average of 0.048%. The Master Servicing Fee with respect to each Group III
Loan ranges from a minimum of 0.040% to a maximum of 0.050%, with a weighted
average of 0.046%. The Master Servicing Fee with respect to each Group IV
Loan ranges from a minimum of 0.040% to a maximum of 0.050%, with a weighted
average of 0.050%. The Master Servicing Fee with respect to each Group V
Loan is 0.040%.
Each Master Servicer will pay all expenses incurred in connection with
its activities as Master Servicer. The Master Servicers are entitled to
reimbursement for certain expenses incurred by them in connection with the
liquidation of defaulted Mortgage Loans. In addition, the Master Servicers
are entitled to reimbursement of expenditures incurred by them in connection
with the restoration of a damaged Mortgaged Property.
The Servicing Fee with respect to each Group I Loan ranges from a
minimum of 0.150% to a maximum of 0.375%, with a weighted average of 0.250%.
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 0.244%. 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 0.249%. The
Servicing Fee with respect to each Group IV Loan ranges from a minimum of
0.200% to a maximum of 0.500%, with a weighted average of 0.250%. The
Servicing Fee with respect to each Group V Loan ranges from a minimum of
0.200% to a maximum of 0.950%, with a weighted average of 0.207%. 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 the 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.
SPECIAL SERVICING AGREEMENT
The Pooling Agreement may permit the Master Servicers to enter into a
special servicing agreement with an unaffiliated holder of a Class of Class B
Certificates or of a class of securities representing interests in the Class
B Certificates and/or other subordinated mortgage pass-through certificates.
Purchase to such an agreement, such holder may instruct the Master Servicers
to instruct the Servicers, to the extent provided in the applicable Servicing
Contract to commence or delay foreclosure proceedings with respect to
delinquent Mortgage Loans. Such commencement or delay at such holder's
direction will be taken by the Master Servicers only after such holder
deposits a specified amount of cash with the Master Servicers. Such cash
will be available for distribution to
15
<PAGE>
Certificateholders if Liquidation Proceeds are less than they otherwise may
have been had the Servicers acted pursuant to their normal servicing
procedures.
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.
16
<PAGE>
GROUP I
a)Number of loans: 1518
b)Mortgage Interest Rates:
<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>
6.625% 1 $ 283,497.47 0.06 %
6.750% 1 $ 291,664.62 0.06 %
6.875% 3 $ 982,777.73 0.20 %
7.000% 15 $ 4,311,009.39 0.89 %
7.125% 14 $ 4,479,867.73 0.93 %
7.250% 62 $ 18,561,870.28 3.83 %
7.375% 140 $ 43,100,100.99 8.90 %
7.400% 1 $ 380,546.24 0.08 %
7.450% 1 $ 259,609.01 0.05 %
7.500% 252 $ 79,008,120.08 16.32 %
7.600% 1 $ 214,843.60 0.04 %
7.625% 232 $ 74,091,343.05 15.31 %
7.750% 280 $ 90,003,735.73 18.59 %
7.775% 1 $ 430,150.04 0.09 %
7.875% 217 $ 69,815,165.58 14.42 %
8.000% 119 $ 36,487,619.50 7.54 %
8.050% 1 $ 219,706.76 0.05 %
8.100% 1 $ 1,090,207.77 0.23 %
8.125% 55 $ 18,201,771.59 3.76 %
8.250% 48 $ 14,822,042.58 3.06 %
8.375% 26 $ 9,215,101.55 1.90 %
8.500% 19 $ 7,294,393.03 1.51 %
8.625% 17 $ 6,428,540.87 1.33 %
8.750% 6 $ 1,819,887.34 0.38 %
8.875% 2 $ 583,724.65 0.12 %
9.000% 1 $ 222,316.83 0.05 %
9.125% 1 $ 635,989.55 0.13 %
9.375% 1 $ 858,648.80 0.18 %
----- ----------------- ----------
TOTAL 1518 $ 484,094,252.36 100.00 %
----- -----------------
----- -----------------
</TABLE>
17
<PAGE>
c)Pass-Through Rates:
<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>
6.251 - 6.500% $ 575,162.09 6.688% 356
6.501 - 6.750% $ 5,293,787.12 6.977% 351
6.751 - 7.000% $ 23,041,738.01 7.226% 356
7.001 - 7.250% $122,522,231.95 7.456% 357
7.251 - 7.500% $165,338,109.80 7.694% 357
7.501 - 7.750% $106,150,598.83 7.918% 357
7.751 - 8.000% $ 34,114,021.94 8.179% 355
8.001 - 8.250% $ 16,509,494.58 8.430% 354
8.251 - 8.500% $ 8,248,428.21 8.653% 356
8.501 - 8.750% $ 806,041.48 8.909% 305
8.751 - 9.000% $ 635,989.55 9.125% 288
9.001 - 9.250% $ 858,648.80 9.375% 291
--------------- ------- ------
$484,094,252.36 7.734% * 356 *
---------------
---------------
</TABLE>
* Represents a weighted average (by principal balance) of all the
Mortgage Loans.
18
<PAGE>
d)Original Principal Balances:
<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>
$200,001 - 250,000 281 $ 67,808,186.18 14.01 %
$250,001 - 300,000 567 $ 155,601,472.17 32.14 %
$300,001 - 350,000 307 $ 99,661,671.14 20.59 %
$350,001 - 400,000 198 $ 74,494,322.19 15.39 %
$400,001 - 450,000 114 $ 48,788,049.37 10.08 %
$450,001 - 500,000 14 $ 6,516,910.33 1.35 %
OVER $500,000 37 $ 31,223,640.98 6.45 %
------ ----------------- ------------
TOTAL 1,518 $ 484,094,252.36 100.00 %
----- -----------------
----- -----------------
</TABLE>
Outstanding principal balance of the smallest Mortgage Loan
at the Cut-Off Date: $ 177,934.35
Outstanding principal balance of the largest Mortgage Loan
at the Cut-Off Date: $ 1,427,870.83
19
<PAGE>
e)Years of initial Monthly Payment:
<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>
1988 1 $ 222,316.83 0.05 %
1992 2 $ 1,494,638.35 0.31 %
1993 2 $ 694,222.03 0.14 %
1994 3 $ 973,854.95 0.20 %
1996 5 $ 2,163,397.44 0.45 %
1997 1148 $ 365,784,850.17 75.56 %
1998 357 $ 112,760,972.59 23.29 %
------ ----------------- -----------
TOTAL 1518 $ 484,094,252.36 100.00 %
------ -----------------
------ -----------------
</TABLE>
20
<PAGE>
f)Current Loan-to-Value Ratios:
<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 162 $ 57,608,261.24 11.90 %
60.01-70.00% 217 $ 75,175,648.97 15.53 %
70.01-75.00% 229 $ 72,617,439.26 15.00 %
75.01-80.00% 713 $ 223,505,772.52 46.17 %
80.01-85.00% 30 $ 8,525,503.04 1.76 %
85.01-90.00% 116 $ 32,968,527.79 6.81 %
90.01-95.00% 51 $ 13,693,099.54 2.83 %
------ ----------------- -----------
TOTAL 1518 $ 484,094,252.36 100.00 %
------ -----------------
------ -----------------
</TABLE>
21
<PAGE>
g)Types of Mortgaged Properties:
<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 1146 $ 368,170,986.68 76.05 %
DUPLEX 14 $ 4,183,640.39 0.86 %
TRIPLEX 6 $ 2,175,877.68 0.45 %
FOURPLEX 6 $ 1,681,293.06 0.35 %
TOWNHOUSE 1 $ 239,549.36 0.05 %
CONDOMINIUM 36 $ 10,778,193.50 2.23 %
PLANNED UNIT DEVELOPMENT 290 $ 91,079,283.60 18.81 %
HI-RISE CONDO 9 $ 2,585,305.06 0.53 %
DEMINIMUS PUD 1 $ 635,989.55 0.13 %
HOUSING COOPERATIVES 9 $ 2,564,133.48 0.53 %
------ ----------------- ------------
TOTAL 1518 $ 484,094,252.36 100.00 %
------ -----------------
------ -----------------
</TABLE>
22
<PAGE>
h)Geographic Distribution by state:
<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 4 $ 1,203,876.34 0.25 %
ARIZONA 36 $ 11,028,126.69 2.28 %
CALIFORNIA 686 $ 227,041,743.18 46.90 %
COLORADO 53 $ 16,584,949.39 3.43 %
CONNECTICUT 20 $ 7,311,235.88 1.51 %
DELAWARE 3 $ 848,971.71 0.18 %
DISTRICT OF COLUMBIA 5 $ 1,882,557.50 0.39 %
FLORIDA 41 $ 12,821,840.49 2.65 %
GEORGIA 32 $ 9,740,271.79 2.01 %
HAWAII 4 $ 1,513,773.88 0.31 %
IDAHO 3 $ 961,327.65 0.20 %
ILLINOIS 55 $ 16,375,145.20 3.38 %
INDIANA 4 $ 1,104,942.35 0.23 %
KANSAS 2 $ 559,996.73 0.12 %
KENTUCKY 6 $ 2,501,720.62 0.52 %
LOUISIANA 3 $ 920,978.68 0.19 %
MAINE 2 $ 546,231.60 0.11 %
MARYLAND 39 $ 12,563,255.28 2.60 %
MASSACHUSETTS 39 $ 11,870,478.78 2.45 %
MICHIGAN 35 $ 9,934,510.70 2.05 %
MINNESOTA 15 $ 5,892,493.88 1.22 %
MISSOURI 11 $ 3,658,470.92 0.76 %
MONTANA 1 $ 246,395.58 0.05 %
NEVADA 16 $ 4,638,133.33 0.96 %
NEW HAMPSHIRE 3 $ 738,385.19 0.15 %
NEW JERSEY 55 $ 16,414,668.44 3.39 %
NEW MEXICO 8 $ 2,344,066.60 0.48 %
NEW YORK 81 $ 24,229,065.66 5.01 %
NORTH CAROLINA 14 $ 4,286,283.67 0.89 %
OHIO 8 $ 2,342,305.40 0.48 %
OKLAHOMA 5 $ 1,446,596.86 0.30 %
OREGON 20 $ 5,780,527.97 1.19 %
PENNSYLVANIA 26 $ 7,790,208.00 1.61 %
RHODE ISLAND 6 $ 1,853,341.38 0.38 %
SOUTH CAROLINA 4 $ 1,278,249.88 0.26 %
TENNESSEE 11 $ 3,031,874.79 0.63 %
TEXAS 47 $ 15,230,410.54 3.15 %
UTAH 27 $ 8,922,913.47 1.84 %
VERMONT 3 $ 787,157.92 0.16 %
VIRGINIA 25 $ 7,294,546.62 1.51 %
WASHINGTON 55 $ 16,988,654.51 3.51 %
WISCONSIN 3 $ 878,106.46 0.18 %
WYOMING 2 $ 705,460.85 0.15 %
------ ----------------- ------------
TOTAL 1518 $ 484,094,252.36 100.00 %
------ -----------------
------ -----------------
</TABLE>
23
<PAGE>
i)Scheduled maturity years:
<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>
2017 18 $ 4,827,001.61 1.00 %
2022 2 $ 1,494,638.35 0.31 %
2023 2 $ 694,222.03 0.14 %
2024 3 $ 973,854.95 0.20 %
2026 6 $ 3,253,605.21 0.67 %
2027 1485 $ 472,402,680.21 97.58 %
2028 2 $ 448,250.00 0.09 %
------ ------------------ ------------
TOTAL 1518 $ 484,094,252.36 100.00 %
------ ------------------
------ ------------------
</TABLE>
Weighted average (by principal balance) remaining term
(adjusted for curtailments) of the Mortgage Loans
calculated as of the Cut-Off Date: 355.6
Latest scheduled maturity of any Mortgage Loan: 1/1/2028
24
<PAGE>
j)Original Terms:
<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 17 $ 4,604,684.78 0.95 %
342 1 $ 222,316.83 0.05 %
360 1500 $ 479,267,250.75 99.00 %
------ ---------------- ------------
TOTAL 1518 $ 484,094,252.36 100.00 %
------ ------------------
------ ------------------
</TABLE>
25
<PAGE>
k)Documentation Program Types:
<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 15 $ 5,652,027.73 1.17 %
FULL DOCUMENTATION 1336 $ 424,530,579.90 87.70 %
LIMITED DOCUMENTATION 138 $ 45,027,717.48 9.30 %
NO DOCUMENTATION 29 $ 8,883,927.25 1.84 %
------ ---------------- ------------
TOTAL 1518 $ 484,094,252.36 100.00 %
------ ----------------
------ ----------------
</TABLE>
26
<PAGE>
GROUP II
a)Number of loans: 545
b)Mortgage Interest Rates:
<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>
6.875% 1 $ 229,018.00 0.11 %
7.000% 11 $ 3,397,097.78 1.64 %
7.125% 5 $ 1,505,619.58 0.73 %
7.250% 21 $ 7,028,824.99 3.39 %
7.375% 20 $ 6,917,031.67 3.33 %
7.500% 58 $ 21,574,480.54 10.40 %
7.550% 1 $ 231,829.54 0.11 %
7.625% 58 $ 22,510,407.65 10.85 %
7.750% 90 $ 34,277,396.79 16.52 %
7.875% 85 $ 31,906,014.77 15.38 %
7.900% 2 $ 530,254.68 0.26 %
7.950% 4 $ 1,136,135.48 0.55 %
8.000% 67 $ 26,944,826.61 12.99 %
8.050% 2 $ 471,929.21 0.23 %
8.100% 5 $ 1,361,256.56 0.66 %
8.125% 33 $ 12,132,952.45 5.85 %
8.250% 32 $ 12,122,144.71 5.84 %
8.375% 15 $ 7,367,307.05 3.55 %
8.450% 1 $ 230,548.30 0.11 %
8.500% 14 $ 6,884,433.85 3.32 %
8.625% 3 $ 1,847,449.26 0.89 %
8.750% 11 $ 4,286,104.02 2.07 %
8.875% 4 $ 1,745,155.57 0.84 %
9.000% 2 $ 798,213.16 0.38 %
----- ---------------- -----------
TOTAL 545 $ 207,436,432.22 100.00 %
----- ----------------
----- ----------------
</TABLE>
27
<PAGE>
c)Pass-Through Rates:
<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% $ 3,398,302.67 6.992% 358
6.751 - 7.000% $ 8,534,794.49 7.221% 358
7.001 - 7.250% $ 28,494,672.59 7.468% 358
7.251 - 7.500% $ 57,252,916.59 7.700% 358
7.501 - 7.750% $ 59,614,004.65 7.930% 357
7.751 - 8.000% $ 26,526,260.15 8.172% 357
8.001 - 8.250% $ 14,938,559.07 8.430% 356
8.251 - 8.500% $ 6,133,553.28 8.712% 357
8.501 - 8.750% $ 2,543,368.73 8.914% 343
--------------- ------ ------
$207,436,432.22 7.861% * 357 *
---------------
---------------
</TABLE>
* Represents a weighted average (by principal balance) of all the
Mortgage Loans.
28
<PAGE>
d)Original Principal Balances:
<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>
$200,001 - 250,000 208 $ 48,366,401.15 23.32 %
$250,001 - 300,000 78 $ 21,324,609.86 10.28 %
$300,001 - 350,000 15 $ 4,795,510.69 2.31 %
$350,001 - 400,000 10 $ 3,749,089.13 1.81 %
$400,001 - 450,000 11 $ 4,804,793.15 2.32 %
$450,001 - 500,000 88 $ 42,327,723.83 20.41 %
OVER $500,000 135 $ 82,068,304.41 39.56 %
------ ---------------- ------------
TOTAL 545 $ 207,436,432.22 100.00 %
------ ----------------
------ ----------------
</TABLE>
Outstanding principal balance of the smallest Mortgage Loan
at the Cut-Off Date: $ 215,489.95
Outstanding principal balance of the largest Mortgage Loan
at the Cut-Off Date: $ 864,238.13
29
<PAGE>
e)Years of initial Monthly Payment:
<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>
1992 3 $ 758,752.15 0.37 %
1995 2 $ 1,148,886.42 0.55 %
1997 411 $ 158,943,820.46 76.62 %
1998 129 $ 46,584,973.19 22.46 %
------ ---------------- ------------
TOTAL 545 $ 207,436,432.22 100.00 %
------ ----------------
------ ----------------
</TABLE>
30
<PAGE>
f)Current Loan-to-Value Ratios:
<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 45 $ 21,487,202.41 10.36 %
60.01-70.00% 75 $ 32,156,717.37 15.50 %
70.01-75.00% 97 $ 40,031,625.01 19.30 %
75.01-80.00% 230 $ 89,528,757.42 43.16 %
80.01-85.00% 11 $ 2,982,229.06 1.44 %
85.01-90.00% 41 $ 10,333,794.03 4.98 %
90.01-95.00% 46 $ 10,916,106.92 5.26 %
------ ---------------- ------------
TOTAL 545 $ 207,436,432.22 100.00 %
------ ----------------
------ ----------------
</TABLE>
31
<PAGE>
g)Types of Mortgaged Properties:
<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 435 $ 166,719,090.70 80.37 %
DUPLEX 2 $ 1,078,848.62 0.52 %
TOWNHOUSE 2 $ 457,283.47 0.22 %
CONDOMINIUM 12 $ 3,965,495.43 1.91 %
PLANNED UNIT DEVELOPMENT 83 $ 30,502,687.45 14.70 %
HI-RISE CONDO 4 $ 1,583,420.30 0.76 %
DEMINIMUS PUD 1 $ 230,548.30 0.11 %
HOUSING COOPERATIVES 6 $ 2,899,057.95 1.40 %
------ ----------------- ------------
TOTAL 545 $ 207,436,432.22 100.00 %
------ -----------------
------ -----------------
</TABLE>
32
<PAGE>
h)Geographic Distribution by state:
<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 1 $ 229,829.31 0.11 %
ALASKA 3 $ 1,485,191.67 0.72 %
ARIZONA 10 $ 2,992,016.86 1.44 %
CALIFORNIA 182 $ 84,888,246.33 40.92 %
COLORADO 14 $ 5,118,962.86 2.47 %
CONNECTICUT 8 $ 2,963,633.55 1.43 %
DISTRICT OF COLUMBIA 1 $ 629,061.98 0.30 %
FLORIDA 26 $ 8,339,522.43 4.02 %
GEORGIA 8 $ 3,275,153.48 1.58 %
HAWAII 2 $ 777,044.07 0.37 %
IDAHO 5 $ 2,391,652.86 1.15 %
ILLINOIS 29 $ 8,353,219.92 4.03 %
INDIANA 7 $ 2,260,405.11 1.09 %
KENTUCKY 5 $ 1,987,026.57 0.96 %
LOUISIANA 1 $ 278,584.59 0.13 %
MARYLAND 19 $ 7,278,704.17 3.51 %
MASSACHUSETTS 22 $ 7,564,498.99 3.65 %
MICHIGAN 25 $ 7,773,728.79 3.75 %
MINNESOTA 3 $ 945,341.31 0.46 %
MISSOURI 3 $ 924,069.81 0.45 %
NEVADA 11 $ 3,503,033.47 1.69 %
NEW HAMPSHIRE 2 $ 456,537.46 0.22 %
NEW JERSEY 29 $ 8,298,221.12 4.00 %
NEW MEXICO 1 $ 646,311.33 0.31 %
NEW YORK 29 $ 10,279,221.62 4.96 %
NORTH CAROLINA 4 $ 1,109,414.67 0.53 %
OHIO 2 $ 694,248.99 0.33 %
OKLAHOMA 1 $ 511,274.94 0.25 %
OREGON 10 $ 4,370,515.39 2.11 %
PENNSYLVANIA 16 $ 5,365,806.82 2.59 %
RHODE ISLAND 1 $ 227,537.96 0.11 %
TENNESSEE 3 $ 1,412,371.12 0.68 %
TEXAS 17 $ 4,848,282.37 2.34 %
UTAH 6 $ 2,296,732.20 1.11 %
VIRGINIA 16 $ 5,565,593.64 2.68 %
WASHINGTON 20 $ 6,656,925.71 3.21 %
WISCONSIN 3 $ 738,508.75 0.36 %
------ ----------------- ------------
TOTAL 545 $ 207,436,432.22 100.00 %
------ ---------------
------ ---------------
</TABLE>
33
<PAGE>
i)Scheduled maturity years:
<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>
2022 3 $ 758,752.15 0.37 %
2025 2 $ 1,148,886.42 0.55 %
2027 531 $ 203,214,468.65 97.96 %
2028 9 $ 2,314,325.00 1.12 %
------ ----------------- ------------
TOTAL 545 $ 207,436,432.22 100.00 %
------ -----------------
------ -----------------
</TABLE>
Weighted average (by principal balance) remaining term
(adjusted for curtailments) of the Mortgage Loans
calculated as of the Cut-Off Date: 356.6
Latest scheduled maturity of any Mortgage Loan: 1/1/2028
34
<PAGE>
j)Original Terms:
<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>
360 545 $ 207,436,432.22 100.00 %
------ ---------------- ------------
TOTAL 545 $ 207,436,432.22 100.00 %
------ ----------------
------ ----------------
</TABLE>
35
<PAGE>
k)Documentation Program Types:
<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 17 $ 9,244,353.74 4.46 %
FULL DOCUMENTATION 454 $ 168,581,059.27 81.27 %
LIMITED DOCUMENTATION 61 $ 25,098,007.10 12.10 %
NO DOCUMENTATION 13 $ 4,513,012.11 2.18 %
------ ---------------- ------------
TOTAL 545 $ 207,436,432.22 100.00 %
------ ---------------
------ ---------------
</TABLE>
36
<PAGE>
GROUP III
a)Number of loans: 1061
b)Mortgage Interest Rates:
<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>
6.600% 1 $ 77,644.77 0.06 %
6.750% 11 $ 1,480,887.94 1.15 %
6.875% 1 $ 196,072.32 0.15 %
7.000% 5 $ 776,678.92 0.60 %
7.100% 24 $ 2,627,313.04 2.04 %
7.125% 3 $ 614,266.72 0.48 %
7.200% 1 $ 54,320.76 0.04 %
7.250% 66 $ 8,020,186.31 6.24 %
7.300% 2 $ 146,499.48 0.11 %
7.375% 20 $ 3,194,767.06 2.49 %
7.400% 15 $ 1,812,275.04 1.41 %
7.500% 78 $ 10,580,414.82 8.23 %
7.625% 69 $ 9,815,734.32 7.64 %
7.750% 147 $ 17,994,097.04 14.00 %
7.800% 1 $ 87,881.33 0.07 %
7.875% 110 $ 14,052,503.17 10.93 %
7.900% 1 $ 132,278.33 0.10 %
8.000% 96 $ 13,310,374.43 10.36 %
8.125% 67 $ 8,194,022.53 6.38 %
8.170% 1 $ 93,898.65 0.07 %
8.250% 94 $ 11,558,411.96 8.99 %
8.375% 77 $ 8,035,653.25 6.25 %
8.400% 1 $ 162,978.17 0.13 %
8.500% 80 $ 7,621,816.41 5.93 %
8.625% 41 $ 2,998,985.16 2.33 %
8.750% 19 $ 2,121,505.57 1.65 %
8.850% 1 $ 91,224.60 0.07 %
8.875% 13 $ 1,058,735.97 0.82 %
8.900% 1 $ 136,689.45 0.11 %
9.000% 11 $ 1,025,460.30 0.80 %
9.200% 1 $ 133,313.19 0.10 %
9.400% 1 $ 102,076.35 0.08 %
9.500% 1 $ 49,085.05 0.04 %
9.625% 1 $ 174,690.42 0.14 %
----- ---------------- -----------
TOTAL 1061 $ 128,532,742.83 100.00 %
----- ----------------
----- ----------------
</TABLE>
37
<PAGE>
c)Pass-Through Rates:
<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>
6.251 - 6.500% $ 1,558,532.71 6.743% 304
6.501 - 6.750% $ 748,111.05 6.967% 331
6.751 - 7.000% $ 11,462,157.66 7.204% 315
7.001 - 7.250% $ 15,812,525.76 7.460% 341
7.251 - 7.500% $ 27,247,629.79 7.705% 339
7.501 - 7.750% $ 27,985,346.19 7.931% 356
7.751 - 8.000% $ 19,933,072.46 8.196% 354
8.001 - 8.250% $ 15,731,398.60 8.434% 356
8.251 - 8.500% $ 5,282,693.28 8.671% 346
8.501 - 8.750% $ 2,312,110.32 8.931% 322
8.751 - 9.000% $ 133,313.19 9.200% 324
9.001 - 9.250% $ 151,161.40 9.432% 310
9.251 - 9.500% $ 174,690.42 9.625% 273
--------------- ------ ------
$128,532,742.83 7.897% * 344 *
---------------
---------------
</TABLE>
* Represents a weighted average (by principal balance) of all
the Mortgage Loans.
38
<PAGE>
d)Original Principal Balances:
<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 89 $ 3,462,019.23 2.69 %
$ 50,001 - 75,000 162 $ 10,030,997.38 7.80 %
$ 75,001 - 100,000 174 $ 15,044,313.77 11.70 %
$100,001 - 150,000 308 $ 37,662,079.36 29.30 %
$150,001 - 200,000 195 $ 33,552,665.43 26.10 %
$200,001 - 250,000 133 $ 28,780,667.66 22.39 %
------ ---------------- ------------
TOTAL 1,061 $ 128,532,742.83 100.00 %
------ ----------------
------ ----------------
</TABLE>
Outstanding principal balance of the smallest Mortgage Loan
at the Cut-Off Date: $ 14,382.02
Outstanding principal balance of the largest Mortgage Loan
at the Cut-Off Date: $ 226,744.28
39
<PAGE>
e)Years of initial Monthly Payment:
<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>
1978 1 $ 17,732.87 0.01 %
1988 7 $ 760,680.70 0.59 %
1991 2 $ 223,775.47 0.17 %
1992 88 $ 8,560,556.52 6.66 %
1993 80 $ 8,231,083.07 6.40 %
1994 35 $ 3,947,523.42 3.07 %
1995 13 $ 1,669,721.97 1.30 %
1996 3 $ 466,903.17 0.36 %
1997 424 $ 57,939,977.20 45.08 %
1998 408 $ 46,714,788.44 36.34 %
------ ---------------- ------------
TOTAL 1061 $ 128,532,742.83 100.00 %
------ ----------------
------ ----------------
</TABLE>
40
<PAGE>
f)Current Loan-to-Value Ratios:
<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 138 $ 14,737,863.73 11.47 %
60.01-70.00% 177 $ 20,795,998.95 16.18 %
70.01-75.00% 219 $ 25,487,743.39 19.83 %
75.01-80.00% 378 $ 49,255,486.19 38.32 %
80.01-85.00% 47 $ 4,669,223.27 3.63 %
85.01-90.00% 79 $ 9,004,433.30 7.01 %
90.01-95.00% 23 $ 4,581,994.00 3.56 %
------ ---------------- ------------
TOTAL 1061 $ 128,532,742.83 100.00 %
------ ----------------
------ ----------------
</TABLE>
41
<PAGE>
g)Types of Mortgaged Properties:
<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 772 $ 94,341,438.59 73.40 %
DUPLEX 23 $ 2,563,812.21 1.99 %
TRIPLEX 4 $ 474,014.20 0.37 %
FOURPLEX 11 $ 1,490,745.75 1.16 %
TOWNHOUSE 4 $ 287,900.97 0.22 %
CONDOMINIUM 71 $ 6,589,355.36 5.13 %
PLANNED UNIT DEVELOPMENT 152 $ 20,670,305.96 16.08 %
HI-RISE CONDO 5 $ 523,747.68 0.41 %
HOUSING COOPERATIVES 19 $ 1,591,422.11 1.24 %
------ ----------------- ------------
TOTAL 1061 $ 128,532,742.83 100.00 %
------ -----------------
------ -----------------
</TABLE>
42
<PAGE>
h)Geographic Distribution by state:
<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 3 $ 381,731.78 0.30 %
ALASKA 1 $ 131,320.39 0.10 %
ARIZONA 41 $ 4,762,393.84 3.71 %
CALIFORNIA 150 $ 24,314,616.58 18.92 %
COLORADO 54 $ 6,239,970.06 4.85 %
CONNECTICUT 17 $ 2,221,833.47 1.73 %
DELAWARE 4 $ 553,270.36 0.43 %
DISTRICT OF COLUMBIA 1 $ 224,665.00 0.17 %
FLORIDA 227 $ 22,373,625.83 17.41 %
GEORGIA 32 $ 3,941,550.92 3.07 %
IDAHO 12 $ 1,053,998.47 0.82 %
ILLINOIS 41 $ 5,467,637.76 4.25 %
INDIANA 14 $ 1,213,904.52 0.94 %
IOWA 1 $ 74,196.26 0.06 %
KANSAS 1 $ 214,332.29 0.17 %
KENTUCKY 3 $ 338,432.00 0.26 %
LOUISIANA 4 $ 318,452.24 0.25 %
MAINE 1 $ 103,863.48 0.08 %
MARYLAND 10 $ 1,729,382.84 1.35 %
MASSACHUSETTS 31 $ 3,461,485.96 2.69 %
MICHIGAN 57 $ 6,503,896.62 5.06 %
MINNESOTA 15 $ 1,421,272.63 1.11 %
MISSOURI 5 $ 703,278.46 0.55 %
MONTANA 2 $ 210,189.33 0.16 %
NEBRASKA 2 $ 129,869.76 0.10 %
NEVADA 7 $ 655,258.89 0.51 %
NEW HAMPSHIRE 5 $ 557,147.61 0.43 %
NEW JERSEY 29 $ 4,646,695.05 3.62 %
NEW MEXICO 6 $ 778,774.90 0.61 %
NEW YORK 56 $ 6,652,730.54 5.18 %
NORTH CAROLINA 16 $ 1,723,280.34 1.34 %
OHIO 22 $ 2,173,479.75 1.69 %
OKLAHOMA 3 $ 265,620.99 0.21 %
OREGON 25 $ 3,391,558.75 2.64 %
PENNSYLVANIA 18 $ 2,447,149.52 1.90 %
RHODE ISLAND 4 $ 644,670.97 0.50 %
SOUTH CAROLINA 7 $ 700,987.47 0.55 %
TENNESSEE 11 $ 1,183,633.36 0.92 %
TEXAS 64 $ 6,443,769.92 5.01 %
UTAH 22 $ 2,938,457.16 2.29 %
VIRGINIA 17 $ 2,727,939.12 2.12 %
WASHINGTON 14 $ 1,817,161.13 1.41 %
WEST VIRGINIA 3 $ 288,821.36 0.22 %
WISCONSIN 2 $ 326,585.37 0.25 %
WYOMING 1 $ 79,849.78 0.06 %
------ ----------------- ------------
TOTAL 1061 $ 128,532,742.83 100.00 %
------ -----------------
------ -----------------
</TABLE>
43
<PAGE>
i)Scheduled maturity years:
<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>
2008 1 $ 17,732.87 0.01 %
2009 1 $ 77,644.77 0.06 %
2012 3 $ 310,498.54 0.24 %
2013 1 $ 197,317.42 0.15 %
2014 1 $ 28,332.75 0.02 %
2015 2 $ 295,391.85 0.23 %
2016 11 $ 946,734.50 0.74 %
2017 9 $ 907,188.66 0.71 %
2018 19 $ 1,490,818.10 1.16 %
2019 12 $ 1,122,085.81 0.87 %
2020 15 $ 1,660,977.59 1.29 %
2021 16 $ 1,565,562.57 1.22 %
2022 44 $ 4,587,516.71 3.57 %
2023 55 $ 5,825,681.15 4.53 %
2024 34 $ 3,885,359.04 3.02 %
2025 10 $ 1,274,018.14 0.99 %
2026 2 $ 418,098.73 0.33 %
2027 825 $ 103,921,783.63 80.85 %
------ ------------------ ------------
TOTAL 1061 $ 128,532,742.83 100.00 %
------ ------------------
------ ------------------
</TABLE>
Weighted average (by principal balance) remaining term
(adjusted for curtailments) of the Mortgage Loans
calculated as of the Cut-Off Date: 343.2
Latest scheduled maturity of any Mortgage Loan: 12/1/2027
44
<PAGE>
j)Original Terms:
<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 4 $ 471,268.69 0.37 %
293 1 $ 41,907.74 0.03 %
297 1 $ 66,550.46 0.05 %
300 3 $ 261,713.32 0.20 %
312 1 $ 54,320.76 0.04 %
315 1 $ 168,716.34 0.13 %
323 1 $ 55,778.60 0.04 %
329 1 $ 68,287.28 0.05 %
331 1 $ 56,746.15 0.04 %
339 1 $ 98,404.00 0.08 %
342 2 $ 193,712.98 0.15 %
353 1 $ 174,690.42 0.14 %
360 1043 $ 126,820,646.09 98.67 %
------ ---------------- ------------
TOTAL 1061 $ 128,532,742.83 100.00 %
------ ----------------
------ ----------------
</TABLE>
45
<PAGE>
k)Documentation Program Types:
<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 18 $ 2,667,893.86 2.08 %
FULL DOCUMENTATION 727 $ 87,706,053.12 68.24 %
LIMITED DOCUMENTATION 298 $ 35,594,173.96 27.69 %
NO DOCUMENTATION 18 $ 2,564,621.89 2.00 %
------ ---------------- ------------
TOTAL 1061 $ 128,532,742.83 100.00 %
------ ----------------
------ ----------------
</TABLE>
46
<PAGE>
GROUP IV
a)Number of loans: 1697
b)Mortgage Interest Rates:
<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>
6.375% 1 $ 99,332.23 0.07 %
6.625% 1 $ 100,000.00 0.07 %
6.750% 5 $ 512,974.16 0.34 %
6.875% 13 $ 1,100,168.23 0.73 %
7.000% 25 $ 2,682,093.13 1.79 %
7.125% 23 $ 2,432,079.12 1.62 %
7.250% 66 $ 7,214,547.14 4.81 %
7.375% 83 $ 8,992,636.12 5.99 %
7.500% 153 $ 14,927,173.03 9.94 %
7.625% 82 $ 8,542,100.39 5.69 %
7.750% 181 $ 16,195,174.21 10.79 %
7.875% 156 $ 14,909,227.62 9.93 %
7.950% 1 $ 208,772.76 0.14 %
7.990% 1 $ 103,773.00 0.07 %
8.000% 150 $ 13,571,836.10 9.04 %
8.125% 80 $ 6,653,131.20 4.43 %
8.250% 140 $ 11,691,636.41 7.79 %
8.336% 1 $ 100,843.66 0.07 %
8.375% 94 $ 8,234,723.99 5.49 %
8.500% 134 $ 10,516,691.02 7.01 %
8.625% 68 $ 5,060,364.47 3.37 %
8.750% 62 $ 4,736,524.54 3.16 %
8.875% 52 $ 3,918,333.75 2.61 %
8.880% 1 $ 49,459.76 0.03 %
9.000% 43 $ 2,863,987.94 1.91 %
9.125% 21 $ 960,087.37 0.64 %
9.250% 29 $ 2,066,781.81 1.38 %
9.375% 7 $ 347,646.89 0.23 %
9.500% 14 $ 689,627.88 0.46 %
9.625% 4 $ 177,622.03 0.12 %
9.750% 4 $ 259,983.14 0.17 %
9.875% 1 $ 39,402.07 0.03 %
10.500% 1 $ 139,791.54 0.09 %
----- ---------------- -----------
TOTAL 1697 $ 150,098,526.71 100.00 %
----- ----------------
----- ----------------
</TABLE>
47
<PAGE>
c)Pass-Through Rates:
<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>
6.001 - 6.250% $ 99,332.23 6.375% 178
6.251 - 6.500% $ 612,974.16 6.730% 178
6.501 - 6.750% $ 3,732,502.99 6.963% 179
6.751 - 7.000% $ 9,632,980.91 7.217% 177
7.001 - 7.250% $ 23,901,861.73 7.452% 178
7.251 - 7.500% $ 24,556,193.30 7.706% 178
7.501 - 7.750% $ 29,056,041.92 7.933% 177
7.751 - 8.000% $ 18,543,903.65 8.207% 176
8.001 - 8.250% $ 18,653,122.63 8.445% 176
8.251 - 8.500% $ 9,796,889.01 8.685% 176
8.501 - 8.750% $ 6,831,781.45 8.927% 176
8.751 - 9.000% $ 3,026,869.18 9.210% 175
9.001 - 9.250% $ 1,037,274.77 9.458% 173
9.251 - 9.500% $ 437,605.17 9.699% 175
9.501 - 9.750% $ 39,402.07 9.875% 174
10.001 - 10.250% $ 139,791.54 10.500% 172
--------------- ------ ------
$150,098,526.71 7.979% * 177 *
---------------
---------------
</TABLE>
* Represents a weighted average (by principal balance) of all the
Mortgage Loans.
48
<PAGE>
d)Original Principal Balances:
<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 371 $ 14,013,475.01 9.34 %
$ 50,001 - 75,000 409 $ 25,341,430.52 16.88 %
$ 75,001 - 100,000 343 $ 30,136,221.51 20.08 %
$100,001 - 150,000 388 $ 47,150,244.83 31.41 %
$150,001 - 200,000 148 $ 25,430,567.14 16.94 %
$200,001 - 250,000 38 $ 8,026,587.70 5.35 %
------ ---------------- ------------
TOTAL 1,697 $ 150,098,526.71 100.00 %
------ ----------------
------ ----------------
</TABLE>
Outstanding principal balance of the smallest Mortgage Loan
at the Cut-Off Date: $ 9,176.23
Outstanding principal balance of the largest Mortgage Loan
at the Cut-Off Date: $ 225,000.00
49
<PAGE>
e)Years of initial Monthly Payment:
<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>
1996 8 $ 499,898.87 0.33 %
1997 1262 $ 109,143,871.56 72.71 %
1998 427 $ 40,454,756.28 26.95 %
------ ---------------- ------------
TOTAL 1697 $ 150,098,526.71 100.00 %
------ ----------------
------ ----------------
</TABLE>
50
<PAGE>
f)Current Loan-to-Value Ratios:
<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 506 $ 41,734,318.94 27.80 %
60.01-70.00% 319 $ 28,563,695.67 19.03 %
70.01-75.00% 391 $ 35,146,255.83 23.42 %
75.01-80.00% 319 $ 32,265,090.97 21.50 %
80.01-85.00% 48 $ 4,419,180.82 2.94 %
85.01-90.00% 108 $ 7,271,324.93 4.84 %
90.01-95.00% 6 $ 698,659.55 0.47 %
------ ---------------- ------------
TOTAL 1697 $ 150,098,526.71 100.00 %
------ ----------------
------ ----------------
</TABLE>
51
<PAGE>
g)Types of Mortgaged Properties:
<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 1275 $ 113,695,824.21 75.75 %
DUPLEX 126 $ 10,339,323.98 6.89 %
TRIPLEX 16 $ 1,208,775.33 0.81 %
FOURPLEX 35 $ 3,340,978.28 2.23 %
TOWNHOUSE 1 $ 138,269.09 0.09 %
CONDOMINIUM 120 $ 8,816,892.09 5.87 %
PLANNED UNIT DEVELOPMENT 105 $ 11,221,833.42 7.48 %
HI-RISE CONDO 10 $ 781,249.86 0.52 %
HOUSING COOPERATIVES 9 $ 555,380.45 0.37 %
------ ----------------- ------------
TOTAL 1697 $ 150,098,526.71 100.00 %
------ -----------------
------ -----------------
</TABLE>
52
<PAGE>
h)Geographic Distribution by state:
<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 11 $ 940,959.08 0.63 %
ALASKA 2 $ 277,291.50 0.18 %
ARIZONA 52 $ 4,197,532.23 2.80 %
ARKANSAS 2 $ 100,749.98 0.07 %
CALIFORNIA 230 $ 24,625,411.27 16.41 %
COLORADO 102 $ 8,913,286.58 5.94 %
CONNECTICUT 7 $ 576,243.57 0.38 %
DELAWARE 5 $ 462,079.59 0.31 %
DISTRICT OF COLUMBIA 5 $ 311,754.68 0.21 %
FLORIDA 167 $ 13,521,615.74 9.01 %
GEORGIA 45 $ 3,723,467.89 2.48 %
HAWAII 14 $ 1,495,949.44 1.00 %
IDAHO 21 $ 1,548,110.08 1.03 %
ILLINOIS 26 $ 2,873,565.58 1.91 %
INDIANA 21 $ 1,042,548.91 0.69 %
IOWA 4 $ 265,472.26 0.18 %
KANSAS 7 $ 466,615.75 0.31 %
KENTUCKY 8 $ 428,204.24 0.29 %
LOUISIANA 21 $ 1,706,285.98 1.14 %
MAINE 6 $ 498,591.17 0.33 %
MARYLAND 28 $ 2,438,958.35 1.62 %
MASSACHUSETTS 43 $ 3,949,707.36 2.63 %
MICHIGAN 31 $ 2,279,499.50 1.52 %
MINNESOTA 21 $ 1,711,081.93 1.14 %
MISSISSIPPI 3 $ 220,526.89 0.15 %
MISSOURI 15 $ 1,255,704.61 0.84 %
MONTANA 7 $ 481,375.08 0.32 %
NEBRASKA 5 $ 243,415.37 0.16 %
NEVADA 26 $ 2,360,389.11 1.57 %
NEW HAMPSHIRE 3 $ 233,542.62 0.16 %
NEW JERSEY 54 $ 5,816,494.24 3.88 %
NEW MEXICO 27 $ 2,248,505.35 1.50 %
NEW YORK 118 $ 12,004,723.75 8.00 %
NORTH CAROLINA 29 $ 2,866,836.47 1.91 %
OHIO 36 $ 2,416,505.22 1.61 %
OKLAHOMA 16 $ 938,775.99 0.63 %
OREGON 39 $ 3,593,155.09 2.39 %
PENNSYLVANIA 61 $ 5,288,855.57 3.52 %
RHODE ISLAND 14 $ 1,387,259.51 0.92 %
SOUTH CAROLINA 16 $ 1,364,762.99 0.91 %
SOUTH DAKOTA 3 $ 205,472.63 0.14 %
TENNESSEE 21 $ 1,798,086.67 1.20 %
TEXAS 187 $ 14,401,841.52 9.59 %
UTAH 45 $ 4,134,217.60 2.75 %
VERMONT 5 $ 371,409.04 0.25 %
VIRGINIA 33 $ 2,780,093.58 1.85 %
WASHINGTON 39 $ 4,102,988.33 2.73 %
WEST VIRGINIA 1 $ 77,769.55 0.05 %
WISCONSIN 11 $ 807,184.43 0.54 %
WYOMING 4 $ 343,652.84 0.23 %
------ ----------------- ------------
TOTAL 1697 $ 150,098,526.71 100.00 %
------ ---------------
------ ---------------
</TABLE>
53
<PAGE>
i)Scheduled maturity years:
<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>
2006 1 $ 159,392.10 0.11 %
2007 5 $ 311,984.82 0.21 %
2011 7 $ 340,506.77 0.23 %
2012 1509 $ 132,150,568.02 88.04 %
2013 175 $ 17,136,075.00 11.42 %
------ ------------------ ------------
TOTAL 1697 $ 150,098,526.71 100.00 %
------ ------------------
------ ------------------
</TABLE>
Weighted average (by principal balance) remaining term
(adjusted for curtailments) of the Mortgage Loans
calculated as of the Cut-Off Date: 176.5
Latest scheduled maturity of any Mortgage Loan: 2/1/2013
54
<PAGE>
j)Original Terms:
<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>
120 6 $ 471,376.92 0.31 %
180 1691 $ 149,627,149.79 99.69 %
------ ---------------- ------------
TOTAL 1697 $ 150,098,526.71 100.00 %
------ ----------------
------ ----------------
</TABLE>
55
<PAGE>
k)Documentation Program Types:
<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 209 $ 18,864,188.80 12.57 %
FULL DOCUMENTATION 783 $ 63,978,615.41 42.62 %
LIMITED DOCUMENTATION 596 $ 58,163,046.16 38.75 %
NO DOCUMENTATION 109 $ 9,092,676.34 6.06 %
------ ---------------- ------------
TOTAL 1697 $ 150,098,526.71 100.00 %
------ ----------------
------ ----------------
</TABLE>
56
<PAGE>
GROUP V
a)Number of loans: 711
b)Mortgage Interest Rates:
<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>
6.500% 5 $ 1,793,501.20 0.76 %
6.625% 6 $ 1,901,029.09 0.81 %
6.750% 14 $ 5,094,409.37 2.16 %
6.875% 14 $ 5,084,135.50 2.16 %
7.000% 25 $ 8,036,396.98 3.41 %
7.125% 42 $ 14,086,366.09 5.98 %
7.250% 69 $ 22,890,322.17 9.72 %
7.375% 72 $ 24,496,256.15 10.40 %
7.500% 51 $ 17,642,224.72 7.49 %
7.625% 101 $ 31,707,954.83 13.47 %
7.750% 156 $ 52,280,368.01 22.20 %
7.875% 105 $ 34,616,084.46 14.70 %
8.000% 17 $ 5,227,723.29 2.22 %
8.125% 20 $ 6,209,035.62 2.64 %
8.250% 8 $ 2,569,083.56 1.09 %
8.375% 2 $ 811,575.60 0.34 %
8.500% 2 $ 502,759.69 0.21 %
8.625% 1 $ 304,638.56 0.13 %
9.000% 1 $ 227,522.82 0.10 %
----- ---------------- -----------
TOTAL 711 $ 235,481,387.71 100.00 %
----- ----------------
----- ----------------
</TABLE>
57
<PAGE>
c)Pass-Through Rates:
<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>
6.251 - 6.500% $ 3,694,530.29 6.564% 179
6.501 - 6.750% $ 10,178,544.87 6.812% 255
6.751 - 7.000% $ 22,509,412.35 7.085% 305
7.001 - 7.250% $ 48,184,420.28 7.327% 328
7.251 - 7.500% $ 49,738,611.65 7.588% 332
7.501 - 7.750% $ 87,181,574.40 7.802% 349
7.751 - 8.000% $ 10,070,461.65 8.076% 358
8.001 - 8.250% $ 3,354,554.08 8.331% 357
8.251 - 8.500% $ 569,278.14 8.567% 358
--------------- ------ ------
$235,481,387.71 7.550% * 331 *
---------------
---------------
</TABLE>
* Represents a weighted average (by principal balance) of all the
Mortgage Loans.
58
<PAGE>
d)Original Principal Balances:
<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>
$200,001 - 250,000 138 $ 32,803,852.49 13.93 %
$250,001 - 300,000 227 $ 62,510,238.42 26.55 %
$300,001 - 350,000 129 $ 41,226,396.20 17.51 %
$350,001 - 400,000 93 $ 34,972,887.64 14.85 %
$400,001 - 450,000 36 $ 15,444,812.82 6.56 %
$450,001 - 500,000 32 $ 15,259,756.48 6.48 %
OVER $500,000 56 $ 33,263,443.66 14.13 %
------ ---------------- ------------
TOTAL 711 $ 235,481,387.71 100.00 %
------ ----------------
------ ----------------
</TABLE>
Outstanding principal balance of the smallest Mortgage Loan
at the Cut-Off Date: $ 225,431.24
Outstanding principal balance of the largest Mortgage Loan
at the Cut-Off Date: $ 983,940.86
59
<PAGE>
e)Years of initial Monthly Payment:
<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>
1997 318 $ 107,186,806.17 45.52 %
1998 393 $ 128,294,581.54 54.48 %
------ ---------------- ------------
TOTAL 711 $ 235,481,387.71 100.00 %
------ ----------------
------ ----------------
</TABLE>
60
<PAGE>
f)Current Loan-to-Value Ratios:
<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 93 $ 31,563,423.52 13.40 %
60.01-70.00% 92 $ 33,562,094.40 14.25 %
70.01-75.00% 92 $ 31,373,945.83 13.32 %
75.01-80.00% 282 $ 95,005,086.81 40.35 %
80.01-85.00% 15 $ 4,260,275.81 1.81 %
85.01-90.00% 97 $ 28,337,384.52 12.03 %
90.01-95.00% 40 $ 11,379,176.82 4.83 %
------ ---------------- ------------
TOTAL 711 $ 235,481,387.71 100.00 %
------ ----------------
------ ----------------
</TABLE>
61
<PAGE>
g)Types of Mortgaged Properties:
<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 528 $ 177,172,212.99 75.24 %
DUPLEX 5 $ 1,952,154.82 0.83 %
TRIPLEX 1 $ 479,385.74 0.20 %
FOURPLEX 2 $ 930,984.90 0.40 %
CONDOMINIUM 34 $ 10,052,628.89 4.27 %
PLANNED UNIT DEVELOPMENT 141 $ 44,894,020.37 19.06 %
------ ----------------- ----------
TOTAL 711 $ 235,481,387.71 100.00 %
------ -----------------
------ -----------------
</TABLE>
62
<PAGE>
h)Geographic Distribution by state:
<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 1 $ 298,346.12 0.13 %
ARIZONA 10 $ 3,129,429.72 1.33 %
CALIFORNIA 436 $ 150,620,634.58 63.96 %
COLORADO 8 $ 2,217,503.60 0.94 %
CONNECTICUT 9 $ 2,516,929.42 1.07 %
DELAWARE 2 $ 663,529.57 0.28 %
FLORIDA 9 $ 2,864,995.03 1.22 %
GEORGIA 4 $ 1,340,685.82 0.57 %
HAWAII 1 $ 419,664.13 0.18 %
IDAHO 2 $ 572,097.46 0.24 %
ILLINOIS 11 $ 2,926,020.62 1.24 %
INDIANA 1 $ 331,507.55 0.14 %
KANSAS 1 $ 255,795.28 0.11 %
KENTUCKY 2 $ 579,905.25 0.25 %
LOUISIANA 3 $ 1,054,847.59 0.45 %
MARYLAND 6 $ 2,416,133.70 1.03 %
MASSACHUSETTS 16 $ 4,919,491.75 2.09 %
MICHIGAN 3 $ 864,785.55 0.37 %
MISSOURI 2 $ 594,596.32 0.25 %
MONTANA 1 $ 254,229.86 0.11 %
NEVADA 2 $ 823,099.86 0.35 %
NEW HAMPSHIRE 5 $ 1,603,357.76 0.68 %
NEW JERSEY 44 $ 14,496,898.63 6.16 %
NEW MEXICO 3 $ 785,610.14 0.33 %
NEW YORK 19 $ 5,485,217.67 2.33 %
NORTH CAROLINA 5 $ 1,375,408.63 0.58 %
OHIO 5 $ 1,631,923.25 0.69 %
OKLAHOMA 1 $ 229,250.40 0.10 %
OREGON 8 $ 3,009,382.29 1.28 %
PENNSYLVANIA 15 $ 4,117,215.15 1.75 %
RHODE ISLAND 2 $ 574,461.86 0.24 %
SOUTH CAROLINA 2 $ 562,099.19 0.24 %
TENNESSEE 5 $ 1,802,971.62 0.77 %
TEXAS 22 $ 6,254,274.96 2.66 %
UTAH 5 $ 1,853,931.79 0.79 %
VERMONT 1 $ 411,141.06 0.17 %
VIRGINIA 14 $ 3,848,203.99 1.63 %
WASHINGTON 15 $ 4,741,930.98 2.01 %
WISCONSIN 10 $ 3,033,879.56 1.29 %
------ ----------------- ------------
TOTAL 711 $ 235,481,387.71 100.00 %
------ -----------------
------ -----------------
</TABLE>
63
<PAGE>
i)Scheduled maturity years:
<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>
2012 94 $ 33,850,566.46 14.38 %
2017 9 $ 2,918,866.78 1.24 %
2022 1 $ 364,198.08 0.15 %
2027 606 $ 197,832,702.66 84.01 %
2028 1 $ 515,053.73 0.22 %
------ ------------------ ------------
TOTAL 711 $ 235,481,387.71 100.00 %
------ ------------------
------ ------------------
</TABLE>
Weighted average (by principal balance) remaining term
(adjusted for curtailments) of the Mortgage Loans
calculated as of the Cut-Off Date: 330.3
Latest scheduled maturity of any Mortgage Loan: 1/1/2028
Eighty-four Group V Loans with an aggregate principal
balance of $26,230,806.44, which represents 11.14% of the
Group V Loans (by principal balance), were originated
under an employee relocation program.
64
<PAGE>
j)Original Terms:
<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>
180 94 $ 33,850,566.46 14.38 %
240 10 $ 3,433,920.51 1.46 %
300 1 $ 364,198.08 0.15 %
360 606 $ 197,832,702.66 84.01 %
------ ---------------- ------------
TOTAL 711 $ 235,481,387.71 100.00 %
------ ----------------
------ ----------------
</TABLE>
65
<PAGE>
k)Documentation Program Types:
<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>
FULL DOCUMENTATION 708 $ 234,409,990.88 99.55 %
LIMITED DOCUMENTATION 2 $ 766,758.27 0.33 %
NO DOCUMENTATION 1 $ 304,638.56 0.13 %
------ ---------------- ------------
TOTAL 711 $ 235,481,387.71 100.00 %
------ ----------------
------ ----------------
</TABLE>
66
<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 January 1, 1998.
67
<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: January 30, 1998.
PNC MORTGAGE SECURITIES
CORP.
(Registrant)
By: \s\ Thomas G. Lehmann
--------------------------
Thomas G. Lehmann
Vice President
(Authorized Officer)
68
<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
$1,205,643,341.83
PNC Mortgage Securities Corp.
Mortgage Pass-Through Certificates
Series 1998-1
(Certificate Trust)
Mortgage Trust Pass Through Certificates
Series 1998-1
(Mortgage Trust)
Group V Trust Pass Through Certificates
Series 1998-1
(Group V Trust)
Cut-Off Date: January 1, 1998
<PAGE>
TABLE OF CONTENTS
<TABLE>
<CAPTION>
PAGE
<S> <C>
ARTICLE I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Section 1.01. Definitions . . . . . . . . . . . . . . . . . . . . . . . . . 9
Accretion Directed Classes . . . . . . . . . . . . . . . . . . . . . . . 10
Aggregate Certificate Principal Balance. . . . . . . . . . . . . . . . . 10
Appraised Value. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Assignment of Proprietary Lease. . . . . . . . . . . . . . . . . . . . . 10
Authenticating Agent . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Authorized Denomination. . . . . . . . . . . . . . . . . . . . . . . . . 10
Bankruptcy Coverage. . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Bankruptcy Coverage Initial Amount . . . . . . . . . . . . . . . . . . . 10
Bankruptcy Loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Beneficial Holder. . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Book-Entry Certificates. . . . . . . . . . . . . . . . . . . . . . . . . 11
Business Day . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Buydown Agreement. . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Buydown Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Buydown Fund Account . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Buydown Loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Certificate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Certificate Account. . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Certificateholder or Holder. . . . . . . . . . . . . . . . . . . . . . . 12
Certificate Account Statement. . . . . . . . . . . . . . . . . . . . . . 12
Certificate Administrator. . . . . . . . . . . . . . . . . . . . . . . . 12
Certificate Administrator Fee. . . . . . . . . . . . . . . . . . . . . . 12
Certificate Group. . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Certificate Principal Balance. . . . . . . . . . . . . . . . . . . . . . 13
Certificate Register and Certificate Registrar . . . . . . . . . . . . . 13
Certificate Trust. . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Certificate Trust Available Distribution Amount. . . . . . . . . . . . . 13
Certificate Trust Certificate Distribution Amount. . . . . . . . . . . . 13
Certificate Trust Certificates . . . . . . . . . . . . . . . . . . . . . 16
-i-
<PAGE>
TABLE OF CONTENTS
(CONTINUED)
<CAPTION>
PAGE
<S> <C>
Certificate Trust Fund . . . . . . . . . . . . . . . . . . . . . . . . . 16
Class. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Class A Certificates . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Class B Certificates . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Class P Certificates . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Class P Mortgage Loan. . . . . . . . . . . . . . . . . . . . . . . . . . 17
Class P Fraction . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Class X Certificates . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Class I-A-1 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-A-1-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-A-2 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-A-2-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-A-3 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-A-3-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-B-1 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-B-1-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-B-2 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-B-2-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-B-3 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-B-3-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-B-4 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-B-4-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-B-5 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 18
Class I-B-5-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 19
Class I-B-6 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 19
Class I-B-6-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 19
Class I-P Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 19
Class I-P Fraction . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Class I-P-L Certificates . . . . . . . . . . . . . . . . . . . . . . . . 19
Class I-P Mortgage Loan. . . . . . . . . . . . . . . . . . . . . . . . . 19
Class I-X Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 19
-ii-
<PAGE>
TABLE OF CONTENTS
(CONTINUED)
<CAPTION>
PAGE
<S> <C>
Class I-X-L Certificates . . . . . . . . . . . . . . . . . . . . . . . . 19
Class I-X Notional Amount. . . . . . . . . . . . . . . . . . . . . . . . 19
Class II-A-1 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 19
Class II-A-1-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 19
Class II-A-2 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 19
Class II-A-2 Notional Amount . . . . . . . . . . . . . . . . . . . . . . 19
Class II-A-3 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 20
Class II-A-3-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 20
Class II-A-4 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 20
Class II-A-4-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 20
Class II-A-5 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 20
Class II-A-5-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 20
Class II-A-6 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 20
Class II-A-6-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 20
Class II-A-7 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 20
Class II-A-7 Accretion Termination Date. . . . . . . . . . . . . . . . . 20
Class II-A-7 Accrual Amount. . . . . . . . . . . . . . . . . . . . . . . 20
Class II-A-7-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 20
Class II-A-8 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 20
Class II-A-8-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 20
Class II-A-9 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 20
Class II-A-9-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 21
Class II-A-10 Certificates . . . . . . . . . . . . . . . . . . . . . . . 21
Class II-A-10-L Certificates . . . . . . . . . . . . . . . . . . . . . . 21
Class II-A-11 Certificates . . . . . . . . . . . . . . . . . . . . . . . 21
Class II-A-11 Notional Amount. . . . . . . . . . . . . . . . . . . . . . 21
Class II-B-1 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 21
Class II-B-1-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 21
Class II-B-2 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 21
Class II-B-2-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 21
Class II-B-3 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 21
-iii-
<PAGE>
TABLE OF CONTENTS
(CONTINUED)
<CAPTION>
PAGE
<S> <C>
Class II-B-3-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 21
Class II-B-4 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 21
Class II-B-4-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 21
Class II-B-5 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 21
Class II-B-5-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 21
Class II-B-6 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 21
Class II-B-6-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 22
Class II-X Certificates. . . . . . . . . . . . . . . . . . . . . . . . . 22
Class II-X-L Certificates. . . . . . . . . . . . . . . . . . . . . . . . 22
Class II-X Notional Amount . . . . . . . . . . . . . . . . . . . . . . . 22
Class III-A-1 Certificates . . . . . . . . . . . . . . . . . . . . . . . 22
Class III-A-1-L Certificates . . . . . . . . . . . . . . . . . . . . . . 22
Class III-B-1 Certificates . . . . . . . . . . . . . . . . . . . . . . . 22
Class III-B-1-L Certificates . . . . . . . . . . . . . . . . . . . . . . 22
Class III-B-2 Certificates . . . . . . . . . . . . . . . . . . . . . . . 22
Class III-B-2-L Certificates . . . . . . . . . . . . . . . . . . . . . . 22
Class III-B-3 Certificates . . . . . . . . . . . . . . . . . . . . . . . 22
Class III-B-3-L Certificates . . . . . . . . . . . . . . . . . . . . . . 22
Class III-B-4 Certificates . . . . . . . . . . . . . . . . . . . . . . . 22
Class III-B-4-L Certificates . . . . . . . . . . . . . . . . . . . . . . 22
Class III-B-5 Certificates . . . . . . . . . . . . . . . . . . . . . . . 22
Class III-B-5-L Certificates . . . . . . . . . . . . . . . . . . . . . . 22
Class III-B-6 Certificates . . . . . . . . . . . . . . . . . . . . . . . 22
Class III-B-6-L Certificates . . . . . . . . . . . . . . . . . . . . . . 23
Class III-P Certificates . . . . . . . . . . . . . . . . . . . . . . . . 23
Class III-P Fraction . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Class III-P Mortgage Loan. . . . . . . . . . . . . . . . . . . . . . . . 23
Class III-P-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 23
Class III-X Certificates . . . . . . . . . . . . . . . . . . . . . . . . 23
Class III-X-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 23
Class III-X Notional Amount. . . . . . . . . . . . . . . . . . . . . . . 23
-iv-
<PAGE>
TABLE OF CONTENTS
(CONTINUED)
<CAPTION>
PAGE
<S> <C>
Class IV-A-1 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 23
Class IV-A-1-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 23
Class IV-B-1 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 23
Class IV-B-1-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 23
Class IV-B-2 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 23
Class IV-B-2-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 23
Class IV-B-3 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 24
Class IV-B-3-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 24
Class IV-B-4 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 24
Class IV-B-4-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 24
Class IV-B-5 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 24
Class IV-B-5-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 24
Class IV-B-6 Certificates. . . . . . . . . . . . . . . . . . . . . . . . 24
Class IV-B-6-L Certificates. . . . . . . . . . . . . . . . . . . . . . . 24
Class IV-P Certificates. . . . . . . . . . . . . . . . . . . . . . . . . 24
Class IV-P-L Certificates. . . . . . . . . . . . . . . . . . . . . . . . 24
Class IV-P Fraction. . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Class IV-P Mortgage Loan . . . . . . . . . . . . . . . . . . . . . . . . 24
Class IV-X Certificates. . . . . . . . . . . . . . . . . . . . . . . . . 24
Class IV-X-L Certificates. . . . . . . . . . . . . . . . . . . . . . . . 24
Class IV-X Notional Amount . . . . . . . . . . . . . . . . . . . . . . . 24
Class V-A-1 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 25
Class V-A-1-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 25
Class V-A-2 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 25
Class V-A-2-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 25
Class V-A-3 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 25
Class V-A-3-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 25
Class V-A-4 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 25
Class V-A-4-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 25
Class V-A-4 Liquidation Amount . . . . . . . . . . . . . . . . . . . . . 25
Class V-A-4 Lockout Principal Distribution Amount. . . . . . . . . . . . 25
-v-
<PAGE>
TABLE OF CONTENTS
(CONTINUED)
<CAPTION>
PAGE
<S> <C>
Class V-A-4 Percentage . . . . . . . . . . . . . . . . . . . . . . . . . 25
Class V-A-4 Prepayment Amount. . . . . . . . . . . . . . . . . . . . . . 25
Class V-A-4 Prepayment Percentage. . . . . . . . . . . . . . . . . . . . 26
Class V-A-4 Pro Rata Factor. . . . . . . . . . . . . . . . . . . . . . . 26
Class V-A-5 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 26
Class V-A-5 Notional Amount. . . . . . . . . . . . . . . . . . . . . . . 26
Class V-A-6 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 26
Class V-A-6 Notional Amount. . . . . . . . . . . . . . . . . . . . . . . 26
Class V-A-7 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 26
Class V-A-7-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 26
Class V-A-7 Accretion Termination Date . . . . . . . . . . . . . . . . . 26
Class V-A-7 Accrual Amount . . . . . . . . . . . . . . . . . . . . . . . 26
Class V-A-8 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 26
Class V-A-8 Notional Amount. . . . . . . . . . . . . . . . . . . . . . . 26
Class V-A-9 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 27
Class V-A-9 Liquidation Amount . . . . . . . . . . . . . . . . . . . . . 27
Class V-A-9 Percentage . . . . . . . . . . . . . . . . . . . . . . . . . 27
Class V-A-9 Prepayment Percentage. . . . . . . . . . . . . . . . . . . . 27
Class V-A-9 Lockout Principal Distribution Amount. . . . . . . . . . . . 27
Class V-A-9-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 27
Class V-B-1 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 27
Class V-B-1-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 27
Class V-B-2 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 27
Class V-B-2-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 27
Class V-B-3 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 27
Class V-B-3-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 27
Class V-B-4 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 27
Class V-B-4-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 28
Class V-B-5 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 28
Class V-B-5-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 28
Class V-B-6 Certificates . . . . . . . . . . . . . . . . . . . . . . . . 28
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Class V-B-6-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 28
Class V-B-IO Certificates. . . . . . . . . . . . . . . . . . . . . . . . 28
Class V-B-IO Notional Amount . . . . . . . . . . . . . . . . . . . . . . 28
Class V-1 Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 28
Class V-2 Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 28
Class V-3 Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 28
Class V-4 Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 28
Class V Principal Reduction Amounts. . . . . . . . . . . . . . . . . . . 28
Class V-1 Principal Distribution Amount. . . . . . . . . . . . . . . . . 30
Class V-2 Principal Distribution Amount. . . . . . . . . . . . . . . . . 30
Class V-3 Principal Distribution Amount. . . . . . . . . . . . . . . . . 30
Class V-4 Principal Distribution Amount. . . . . . . . . . . . . . . . . 30
Class Notional Amount. . . . . . . . . . . . . . . . . . . . . . . . . . 30
Class Principal Balance. . . . . . . . . . . . . . . . . . . . . . . . . 31
Class R Certificates . . . . . . . . . . . . . . . . . . . . . . . . . . 31
Class R-L Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 31
Class R-1 Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 31
Class R-2 Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 31
Clearing Agency. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Company. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Compensating Interest. . . . . . . . . . . . . . . . . . . . . . . . . . 32
Component. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Component II-A-1-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Component II-A-1-1-L . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Component II-A-1-2 . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Component II-A-1-2-L . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Component II-A-1-2 Accretion Termination Date. . . . . . . . . . . . . . 32
Component II-A-1-2 Accrual Amount. . . . . . . . . . . . . . . . . . . . 32
Component II-A-1-3 . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
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Component II-A-1-3 Notional Amount . . . . . . . . . . . . . . . . . . . 33
Component II-A-1-4 . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Component II-A-1-4-L . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Component II-A-1-5 . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Component II-A-1-5-L . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Component II-A-1-6 . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Component II-A-1-6-L . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Component II-A-1-6 Notional Amount . . . . . . . . . . . . . . . . . . . 33
Component Notional Amount. . . . . . . . . . . . . . . . . . . . . . . . 33
Component Principal Balance. . . . . . . . . . . . . . . . . . . . . . . 33
Cooperative. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
Cooperative Apartment. . . . . . . . . . . . . . . . . . . . . . . . . . 34
Cooperative Lease. . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
Cooperative Loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
Cooperative Stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
Cooperative Stock Certificate. . . . . . . . . . . . . . . . . . . . . . 34
Corporate Trust Office . . . . . . . . . . . . . . . . . . . . . . . . . 35
Corresponding Class. . . . . . . . . . . . . . . . . . . . . . . . . . . 35
Corresponding Component. . . . . . . . . . . . . . . . . . . . . . . . . 35
Covered Loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
Covered Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
Curtailment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
Curtailment Shortfall. . . . . . . . . . . . . . . . . . . . . . . . . . 36
Custodial Account for P&I. . . . . . . . . . . . . . . . . . . . . . . . 36
Custodial Account for Reserves . . . . . . . . . . . . . . . . . . . . . 36
Custodial Agreement. . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Custodian. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Cut-Off Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
DCR. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Definitive Certificates. . . . . . . . . . . . . . . . . . . . . . . . . 37
Depositary Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . 37
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Destroyed Mortgage Note. . . . . . . . . . . . . . . . . . . . . . . . . 37
Determination Date . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Disqualified Organization. . . . . . . . . . . . . . . . . . . . . . . . 37
Distribution Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
DTC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
DTC Participant. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Due Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Eligible Institution . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Eligible Investments . . . . . . . . . . . . . . . . . . . . . . . . . . 38
ERISA. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Event of Default . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Excess Liquidation Proceeds. . . . . . . . . . . . . . . . . . . . . . . 39
FDIC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
FHA. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
FHLB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
FHLMC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
FNMA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Fraud Coverage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Fraud Coverage Initial Amount. . . . . . . . . . . . . . . . . . . . . . 40
Fraud Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40
Group I Certificates . . . . . . . . . . . . . . . . . . . . . . . . . . 40
Group I-A Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 40
Group I-A-L Certificates . . . . . . . . . . . . . . . . . . . . . . . . 40
Group I-B Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 40
Group I-B-L Certificates . . . . . . . . . . . . . . . . . . . . . . . . 40
Group I-L Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 40
Group I-L Senior Certificates. . . . . . . . . . . . . . . . . . . . . . 41
Group I Credit Support Depletion Date. . . . . . . . . . . . . . . . . . 41
Group I Loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
Group I Lockout Liquidation Amount . . . . . . . . . . . . . . . . . . . 41
Group I Lockout Percentage . . . . . . . . . . . . . . . . . . . . . . . 41
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Group I Lockout Prepayment Percentage. . . . . . . . . . . . . . . . . . 41
Group I Lockout Principal Distribution Amount. . . . . . . . . . . . . . 41
Group I Premium Rate Mortgage Loans. . . . . . . . . . . . . . . . . . . 41
Group I Senior Certificates. . . . . . . . . . . . . . . . . . . . . . . 41
Group I Senior Liquidation Amount. . . . . . . . . . . . . . . . . . . . 41
Group I Senior Percentage. . . . . . . . . . . . . . . . . . . . . . . . 42
Group I Senior Prepayment Percentage . . . . . . . . . . . . . . . . . . 42
Group I Senior Principal Distribution Amount . . . . . . . . . . . . . . 43
Group I Subordinate Liquidation Amount . . . . . . . . . . . . . . . . . 43
Group I Subordinate Percentage . . . . . . . . . . . . . . . . . . . . . 43
Group I Subordinate Prepayment Percentage. . . . . . . . . . . . . . . . 43
Group I Subordinate Principal Distribution Amount. . . . . . . . . . . . 44
Group I Subordinate Principal Prepayments Distribution Amount. . . . . . 44
Group II Certificates. . . . . . . . . . . . . . . . . . . . . . . . . . 44
Group II-A Certificates. . . . . . . . . . . . . . . . . . . . . . . . . 44
Group II-A-L Certificates. . . . . . . . . . . . . . . . . . . . . . . . 44
Group II-B Certificates. . . . . . . . . . . . . . . . . . . . . . . . . 44
Group II-B-L Certificates. . . . . . . . . . . . . . . . . . . . . . . . 45
Group II-L Certificates. . . . . . . . . . . . . . . . . . . . . . . . . 45
Group II-L Senior Certificates . . . . . . . . . . . . . . . . . . . . . 45
Group II Credit Support Depletion Date . . . . . . . . . . . . . . . . . 45
Group II Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45
Group II Premium Rate Mortgage Loans . . . . . . . . . . . . . . . . . . 45
Group II Senior Certificates . . . . . . . . . . . . . . . . . . . . . . 45
Group II Senior Liquidation Amount . . . . . . . . . . . . . . . . . . . 45
Group II Senior Percentage . . . . . . . . . . . . . . . . . . . . . . . 45
Group II Senior Prepayment Percentage. . . . . . . . . . . . . . . . . . 45
Group II Senior Principal Distribution Amount. . . . . . . . . . . . . . 47
Group II Subordinate Liquidation Amount. . . . . . . . . . . . . . . . . 47
Group II Subordinate Percentage. . . . . . . . . . . . . . . . . . . . . 47
Group II Subordinate Prepayment Percentage . . . . . . . . . . . . . . . 47
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Group II Subordinate Principal Distribution Amount . . . . . . . . . . . 47
Group II Subordinate Principal Prepayments Distribution Amount . . . . . 48
Group II WAC IO Notional Amount. . . . . . . . . . . . . . . . . . . . . 48
Group III Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 48
Group III-B Certificates . . . . . . . . . . . . . . . . . . . . . . . . 48
Group III-B-L Certificates . . . . . . . . . . . . . . . . . . . . . . . 48
Group III-L Certificates . . . . . . . . . . . . . . . . . . . . . . . . 48
Group III Credit Support Depletion Date. . . . . . . . . . . . . . . . . 48
Group III Loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48
Group III Senior Certificates. . . . . . . . . . . . . . . . . . . . . . 48
Group III-L Senior Certificates. . . . . . . . . . . . . . . . . . . . . 48
Group III Premium Rate Mortgage Loans. . . . . . . . . . . . . . . . . . 48
Group III Senior Liquidation Amount. . . . . . . . . . . . . . . . . . . 49
Group III Senior Percentage. . . . . . . . . . . . . . . . . . . . . . . 49
Group III Senior Prepayment Percentage . . . . . . . . . . . . . . . . . 49
Group III Senior Principal Distribution Amount . . . . . . . . . . . . . 50
Group III Subordinate Liquidation Amount . . . . . . . . . . . . . . . . 50
Group III Subordinate Percentage . . . . . . . . . . . . . . . . . . . . 50
Group III Subordinate Prepayment Percentage. . . . . . . . . . . . . . . 50
Group III Subordinate Principal Distribution Amount. . . . . . . . . . . 51
Group III Subordinate Principal Prepayments Distribution Amount. . . . . 51
Group IV Certificates. . . . . . . . . . . . . . . . . . . . . . . . . . 51
Group IV-B Certificates. . . . . . . . . . . . . . . . . . . . . . . . . 51
Group IV-B-L Certificates. . . . . . . . . . . . . . . . . . . . . . . . 51
Group IV-L Certificates. . . . . . . . . . . . . . . . . . . . . . . . . 51
Group IV-L Senior Certificates . . . . . . . . . . . . . . . . . . . . . 52
Group IV Credit Support Depletion Date . . . . . . . . . . . . . . . . . 52
Group IV Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52
Group IV Premium Rate Mortgage Loans . . . . . . . . . . . . . . . . . . 52
Group IV Senior Certificates . . . . . . . . . . . . . . . . . . . . . . 52
Group IV Senior Liquidation Amount . . . . . . . . . . . . . . . . . . . 52
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Group IV Senior Percentage . . . . . . . . . . . . . . . . . . . . . . . 52
Group IV Senior Prepayment Percentage. . . . . . . . . . . . . . . . . . 52
Group IV Senior Principal Distribution Amount. . . . . . . . . . . . . . 53
Group IV Subordinate Liquidation Amount. . . . . . . . . . . . . . . . . 54
Group IV Subordinate Percentage. . . . . . . . . . . . . . . . . . . . . 54
Group IV Subordinate Prepayment Percentage . . . . . . . . . . . . . . . 54
Group IV Subordinate Principal Distribution Amount . . . . . . . . . . . 54
Group IV Subordinate Principal Prepayments Distribution Amount . . . . . 54
Group V Certificates . . . . . . . . . . . . . . . . . . . . . . . . . . 55
Group V-A Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 55
Group V-A-L Certificates . . . . . . . . . . . . . . . . . . . . . . . . 55
Group V-B Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 55
Group V-B-L Certificates . . . . . . . . . . . . . . . . . . . . . . . . 55
Group V-L Certificates . . . . . . . . . . . . . . . . . . . . . . . . . 55
Group V Credit Support Depletion Date. . . . . . . . . . . . . . . . . . 55
Group V Loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55
Group V Senior Liquidation Amount. . . . . . . . . . . . . . . . . . . . 55
Group V Senior Percentage. . . . . . . . . . . . . . . . . . . . . . . . 55
Group V Senior Prepayment Percentage . . . . . . . . . . . . . . . . . . 55
Group V Senior Principal Distribution Amount . . . . . . . . . . . . . . 57
Group V Subordinate Liquidation Amount . . . . . . . . . . . . . . . . . 57
Group V Subordinate Percentage . . . . . . . . . . . . . . . . . . . . . 57
Group V Subordinate Prepayment Percentage. . . . . . . . . . . . . . . . 57
Group V Subordinate Principal Distribution Amount. . . . . . . . . . . . 57
Group V Subordinate Principal Prepayments Distribution Amount. . . . . . 57
Group V Trust. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57
Group V Trust Available Distribution Amount. . . . . . . . . . . . . . . 57
Group V Trust Certificate Distribution Amount. . . . . . . . . . . . . . 59
Group V Trust Certificates . . . . . . . . . . . . . . . . . . . . . . . 59
Group V Trust Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . 59
Group V Weighted Average Rate. . . . . . . . . . . . . . . . . . . . . . 60
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Indirect DTC Participants. . . . . . . . . . . . . . . . . . . . . . . . 60
IndyMac Mortgage Loan. . . . . . . . . . . . . . . . . . . . . . . . . . 60
Insurance Proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
Interest Distribution Amount . . . . . . . . . . . . . . . . . . . . . . 60
Investment Account . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
Investment Depository. . . . . . . . . . . . . . . . . . . . . . . . . . 61
Junior Subordinate Certificate . . . . . . . . . . . . . . . . . . . . . 61
Lender . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Liquidated Mortgage Loan . . . . . . . . . . . . . . . . . . . . . . . . 61
Liquidation Principal. . . . . . . . . . . . . . . . . . . . . . . . . . 61
Liquidation Proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Loan Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Loan Group I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Loan Group II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Loan Group III . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Loan Group IV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Loan Group V . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Loan-to-Value Ratio. . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Master Servicer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Master Servicer's Section 3.12 Report. . . . . . . . . . . . . . . . . . 62
Master Servicer's Section 4.02 Report. . . . . . . . . . . . . . . . . . 62
Master Servicing Fee . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Monthly P&I Advance. . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Monthly Payment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Mortgaged Property . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Mortgage File. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Mortgage Interest Rate . . . . . . . . . . . . . . . . . . . . . . . . . 64
Mortgage Loan Schedule . . . . . . . . . . . . . . . . . . . . . . . . . 64
Mortgage Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
Mortgage Note. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
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Mortgage Pool. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
Mortgage Trust . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
Mortgage Trust Available Distribution Amount . . . . . . . . . . . . . . 65
Mortgage Trust Certificate Distribution Amount . . . . . . . . . . . . . 66
Mortgage Trust Certificates. . . . . . . . . . . . . . . . . . . . . . . 89
Mortgage Trust Fund. . . . . . . . . . . . . . . . . . . . . . . . . . . 89
Mortgagor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89
Nonrecoverable Advance . . . . . . . . . . . . . . . . . . . . . . . . . 90
Non-U.S. Person. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90
OTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90
Officer's Certificate. . . . . . . . . . . . . . . . . . . . . . . . . . 90
Opinion of Counsel . . . . . . . . . . . . . . . . . . . . . . . . . . . 90
Original Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90
Ownership Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . 90
Pass-Through Entity. . . . . . . . . . . . . . . . . . . . . . . . . . . 90
Pass-Through Rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . 90
Paying Agent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90
Payoff . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90
Payoff Earnings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91
Payoff Interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91
Payoff Period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91
Percentage Interest. . . . . . . . . . . . . . . . . . . . . . . . . . . 91
Permitted Transferee . . . . . . . . . . . . . . . . . . . . . . . . . . 92
Person . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 93
Planned Principal Balance. . . . . . . . . . . . . . . . . . . . . . . . 93
PNC Mortgage Loan. . . . . . . . . . . . . . . . . . . . . . . . . . . . 93
Prepaid Monthly Payment. . . . . . . . . . . . . . . . . . . . . . . . . 93
Prepayment Period. . . . . . . . . . . . . . . . . . . . . . . . . . . . 93
Primary Insurance Policy . . . . . . . . . . . . . . . . . . . . . . . . 93
Principal Balance. . . . . . . . . . . . . . . . . . . . . . . . . . . . 93
Principal Payment. . . . . . . . . . . . . . . . . . . . . . . . . . . . 94
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Principal Payment Amount . . . . . . . . . . . . . . . . . . . . . . . . 94
Principal Prepayment . . . . . . . . . . . . . . . . . . . . . . . . . . 94
Principal Prepayment Amount. . . . . . . . . . . . . . . . . . . . . . . 94
Prior Period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94
Pro Rata Allocation. . . . . . . . . . . . . . . . . . . . . . . . . . . 94
Purchase Obligation. . . . . . . . . . . . . . . . . . . . . . . . . . . 95
Purchase Price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95
Qualified Insurer. . . . . . . . . . . . . . . . . . . . . . . . . . . . 96
Rating Agency. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96
Ratings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96
Realized Loss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96
Record Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .102
Reference Banks. . . . . . . . . . . . . . . . . . . . . . . . . . . . .102
Regular Interest Certificates. . . . . . . . . . . . . . . . . . . . . .102
REMIC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .102
REMIC Provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . .102
Remittance Rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . .102
Reserve Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .102
Reserve Fund Initial Amount. . . . . . . . . . . . . . . . . . . . . . .102
Residual Certificates. . . . . . . . . . . . . . . . . . . . . . . . . .103
Residual Distribution Amount . . . . . . . . . . . . . . . . . . . . . .103
Responsible Officer. . . . . . . . . . . . . . . . . . . . . . . . . . .103
S&P. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .103
Securities Act . . . . . . . . . . . . . . . . . . . . . . . . . . . . .103
Security Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . .103
Selling and Servicing Contract . . . . . . . . . . . . . . . . . . . . .103
Senior Certificates. . . . . . . . . . . . . . . . . . . . . . . . . . .104
Senior Subordinate Certificates. . . . . . . . . . . . . . . . . . . . .104
Servicer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .104
Servicing Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .104
Servicing Officer. . . . . . . . . . . . . . . . . . . . . . . . . . . .104
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Special Hazard Coverage. . . . . . . . . . . . . . . . . . . . . . . . .104
Special Hazard Coverage Initial Amount . . . . . . . . . . . . . . . . .105
Special Hazard Loss. . . . . . . . . . . . . . . . . . . . . . . . . . .105
Step Down Percentage . . . . . . . . . . . . . . . . . . . . . . . . . .105
Stripped Interest Rate . . . . . . . . . . . . . . . . . . . . . . . . .105
Subordinate Certificates . . . . . . . . . . . . . . . . . . . . . . . .105
Subordination Level. . . . . . . . . . . . . . . . . . . . . . . . . . .105
Substitute Mortgage Loan . . . . . . . . . . . . . . . . . . . . . . . .106
Targeted Principal Balance . . . . . . . . . . . . . . . . . . . . . . .106
Tax Matters Person . . . . . . . . . . . . . . . . . . . . . . . . . . .106
Termination Date . . . . . . . . . . . . . . . . . . . . . . . . . . . .107
Termination Payment. . . . . . . . . . . . . . . . . . . . . . . . . . .107
Transfer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .107
Transferee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .107
Transferee Affidavit and Agreement . . . . . . . . . . . . . . . . . . .107
Trustee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .107
II-P Fraction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .107
II-PO Mortgage Loan. . . . . . . . . . . . . . . . . . . . . . . . . . .107
Uncollected Interest . . . . . . . . . . . . . . . . . . . . . . . . . .107
Uncompensated Interest Shortfall . . . . . . . . . . . . . . . . . . . .107
Underwriting Standards . . . . . . . . . . . . . . . . . . . . . . . . .107
Uninsured Cause. . . . . . . . . . . . . . . . . . . . . . . . . . . . .108
U.S. Person. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .108
VA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .108
Withdrawal Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . .108
ARTICLE II Conveyance of the Trust Funds; REMIC Election and Designations;
Original Issuance of Certificates. . . . . . . . . . . . . . . . .108
Section 2.01. Conveyance of the Mortgage Trust Fund; REMIC Election
and Designations . . . . . . . . . . . . . . . . . . . . . . .108
Section 2.02. Acceptance by Trustee. . . . . . . . . . . . . . . . . . . . .113
Section 2.03. Representations and Warranties of the Company
Concerning the Mortgage Loans. . . . . . . . . . . . . . . . .115
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Section 2.04. Authentication of the Mortgage Trust Certificates and
the Class R-1 Certificates . . . . . . . . . . . . . . . . . .120
Section 2.05. Conveyance of the Certificate Trust Fund; REMIC
Election and Designations. . . . . . . . . . . . . . . . . . .121
Section 2.06. Acceptance by Trustee. . . . . . . . . . . . . . . . . . . . .124
Section 2.07. Representations and Warranties of the Company
Concerning the Mortgage Trust Certificates . . . . . . . . . .124
Section 2.08. Authentication of Certificate Trust Certificates and
the Class R Certificates . . . . . . . . . . . . . . . . . . .125
Section 2.09. Conveyance of the Group V Trust Fund; REMIC Election
and Designations . . . . . . . . . . . . . . . . . . . . . . .125
Section 2.10. Representations and Warranties of the Company
Concerning the Group V Trust Certificates. . . . . . . . . . .130
Section 2.11. Acceptance by Trustee. . . . . . . . . . . . . . . . . . . . .130
Section 2.12. Authentication of Group V Trust Certificates and the
Class R-2 Certificates . . . . . . . . . . . . . . . . . . . .132
ARTICLE III Administration and Servicing of Mortgage Loans . . . . . . . . . .132
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 . . . . . . . . . .132
Section 3.02. Custodial Accounts . . . . . . . . . . . . . . . . . . . . . .134
Section 3.03. The Investment Accounts; Eligible Investments. . . . . . . . .135
Section 3.04. The Certificate Account. . . . . . . . . . . . . . . . . . . .136
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 . . . . . . . . .136
Section 3.06. Maintenance of Primary Insurance Policies; Collections
Thereunder . . . . . . . . . . . . . . . . . . . . . . . . . .138
Section 3.07. Maintenance of Hazard Insurance. . . . . . . . . . . . . . . .138
Section 3.08. Enforcement of Due-on-Sale Clauses; Assumption
Agreements . . . . . . . . . . . . . . . . . . . . . . . . . .139
Section 3.09. Realization Upon Defaulted Mortgage Loans. . . . . . . . . . .140
Section 3.10. Trustee to Cooperate; Release of Mortgage Files. . . . . . . .142
Section 3.11. Compensation to the Certificate Administrator, Master
Servicers and the Servicers. . . . . . . . . . . . . . . . . .142
Section 3.12. Reports to the Trustee; Certificate Account Statement. . . . .143
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Section 3.13. Annual Statement as to Compliance. . . . . . . . . . . . . . .143
Section 3.14. Access to Certain Documentation and Information
Regarding the Mortgage Loans . . . . . . . . . . . . . . . . .144
Section 3.15. Annual Independent Public Accountants' Servicing Report. . . .144
Section 3.16. [Reserved] . . . . . . . . . . . . . . . . . . . . . . . . . .144
Section 3.17. Maintenance of the Reserve Fund; Collections ThereundeR. . . .144
Section 3.18. [Reserved.]. . . . . . . . . . . . . . . . . . . . . . . . . .145
Section 3.19. [Reserved.]. . . . . . . . . . . . . . . . . . . . . . . . . .145
Section 3.20. [Reserved.]. . . . . . . . . . . . . . . . . . . . . . . . . .145
Section 3.21. Assumption or Termination of Selling and Servicing
Contracts by Trustee . . . . . . . . . . . . . . . . . . . . .145
ARTICLE IV Payments to Certificateholders; Payment of Expenses . . . . . . .145
Section 4.01. Distributions to Mortgage Trust and Class R-1
Certificateholders . . . . . . . . . . . . . . . . . . . . . .145
Section 4.02. Statements to Mortgage Trust Certificateholders. . . . . . . .147
Section 4.03. Advances by the Master Servicer; Distribution Reports
to the Trustee . . . . . . . . . . . . . . . . . . . . . . . .148
Section 4.04. Nonrecoverable Advances. . . . . . . . . . . . . . . . . . . .149
Section 4.05. Certificate Trust Distributions. . . . . . . . . . . . . . . .150
Section 4.06. Statements to Certificate Trust Certificateholders . . . . . .150
Section 4.07. Distributions to Group V Trust Certificateholders. . . . . . .152
Section 4.08. Statements to Group V Trust Certificateholders . . . . . . . .153
ARTICLE V The Certificates . . . . . . . . . . . . . . . . . . . . . . . . .154
Section 5.01. The Certificates . . . . . . . . . . . . . . . . . . . . . . .154
Section 5.02. Certificates Issuable in Classes; Distributions of
Principal and Interest; Authorized Denominations . . . . . . .159
Section 5.03. Registration of Transfer and Exchange of Certificates. . . . .159
Section 5.04. Mutilated, Destroyed, Lost or Stolen Certificates. . . . . . .160
Section 5.05. Persons Deemed Owners. . . . . . . . . . . . . . . . . . . . .161
Section 5.06. Temporary Certificates . . . . . . . . . . . . . . . . . . . .161
Section 5.07. Book-Entry for Book-Entry Certificates . . . . . . . . . . . .161
Section 5.08. Notices to Clearing Agency . . . . . . . . . . . . . . . . . .162
Section 5.09. Definitive Certificates. . . . . . . . . . . . . . . . . . . .162
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Section 5.10. Office for Transfer of Certificates. . . . . . . . . . . . . .163
The Company, the Master Servicers and the Certificate
Administrator. . . . . . . . . . . . . . . . . . . . . . . . .163
Section 6.01. Liability of the Company and the Master Services and
the Certificate Administrator. . . . . . . . . . . . . . . . .163
Section 6.02. Merger or Consolidation of the Company, a Master
Servicer or the Certificate Administrator. . . . . . . . . . .163
Section 6.03. Limitation on Liability of the Company, the Master
Servicers, the Certificate Administrator and Others. . . . . .163
Section 6.04. The Company, each Master Servicer and the Certificate
Administrator Not to Resign. . . . . . . . . . . . . . . . . .164
ARTICLE VII Default . . . . . . . . . . . . . . . . . . . . . . . . . . . . .165
Section 7.01. Events of Default. . . . . . . . . . . . . . . . . . . . . . .165
Section 7.02. Trustee to Act; Appointment of Successor . . . . . . . . . . .169
Section 7.03. Notification to Certificateholders . . . . . . . . . . . . . .170
ARTICLE VIII Concerning the Trustee . . . . . . . . . . . . . . . . . . . . . .170
Section 8.01. Duties of Trustee. . . . . . . . . . . . . . . . . . . . . . .170
Section 8.02. Certain Matters Affecting the Trustee. . . . . . . . . . . . .171
Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans. . . . .172
Section 8.04. Trustee May Own Certificates . . . . . . . . . . . . . . . . .172
Section 8.05. The Certificate Administrator to Pay Trustee's Fees and
Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . .172
Section 8.06. Eligibility Requirements for Trustee . . . . . . . . . . . . .173
Section 8.07. Resignation and Removal of Trustee . . . . . . . . . . . . . .173
Section 8.08. Successor Trustee. . . . . . . . . . . . . . . . . . . . . . .174
Section 8.09. Merger or Consolidation of Trustee . . . . . . . . . . . . . .174
Section 8.10. Appointment of Co-Trustee or Separate Trustee. . . . . . . . .174
Section 8.11. Authenticating Agents. . . . . . . . . . . . . . . . . . . . .175
Section 8.12. Paying Agents. . . . . . . . . . . . . . . . . . . . . . . . .176
ARTICLE IX Termination. . . . . . . . . . . . . . . . . . . . . . . . . . . .177
Section 9.01. Termination Upon Repurchase by the Company or
Liquidation of All Mortgage Loans. . . . . . . . . . . . . . .177
Section 9.02. Additional Termination Requirements. . . . . . . . . . . . . .179
Section 9.03. Trusts Irrevocable . . . . . . . . . . . . . . . . . . . . . .179
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ARTICLE X Miscellaneous Provisions . . . . . . . . . . . . . . . . . . . . .179
Section 10.01. Amendment. . . . . . . . . . . . . . . . . . . . . . . . . . .180
Section 10.02. Recordation of Agreement . . . . . . . . . . . . . . . . . . .180
Section 10.03. Limitation on Rights of Certificateholders . . . . . . . . . .181
Section 10.04. Access to List of Certificateholders . . . . . . . . . . . . .182
Section 10.05. Governing Law. . . . . . . . . . . . . . . . . . . . . . . . .182
Section 10.06. Notices. . . . . . . . . . . . . . . . . . . . . . . . . . . .182
Section 10.07. Severability of Provisions . . . . . . . . . . . . . . . . . .183
Section 10.08. Counterpart Signatures . . . . . . . . . . . . . . . . . . . .183
Section 10.09. Benefits of Agreement. . . . . . . . . . . . . . . . . . . . .183
Section 10.10. Notices and Copies to Rating Agencies. . . . . . . . . . . . .183
Section 10.11. Certificate Insurance. . . . . . . . . . . . . . . . . . . . .184
Schedule I Covered Loan Schedule
Exhibit I Form of Group I Certificates
Exhibit II Form of Group II Certificates
Exhibit III Form of Group III Certificates
Exhibit IV Form of Group IV Certificates
Exhibit V Form of Group V Certificates
Exhibit A [Reserved]
Exhibit B Form of Residual Certificates
Exhibit C [Reserved]
Exhibit D Mortgage Loan Schedule
Exhibit E Selling And Servicing Contract
Exhibit F Form Of Transferor Certificate Forjunior Subordinate Certificates
Exhibit G Form Of Transferee's Agreement For Junior Subordinate Certificates
Exhibit H Form Of Additional Matter Incorporated Into The Form Of The Mortgage
Trust Certificates
Exhibit I Transferor Certificate
Exhibit J Transferee Affidavit And Agreement
Exhibit K Form Of Additional Matter Incorporated Into The Form Of The
Certificate Trust Certificates
Exhibit L Form Of Investment Letter
Exhibit M Form of Trustee's Certification Pursuation to Section 2.02
Exhibit N List Of Delinquent Mortgage Loans Pursuant To Section 2.03(Iv)
Exhibit O Form Of Additional Matter Incorporated Into The Form Of The Group V
Trust Certificates
Exhibit P Planned Principal Balances
Exhibit Q Targeted Principal Balances
</TABLE>
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<PAGE>
This Pooling and Servicing Agreement, dated and effective as of January
1, 1998 (this "Agreement"), is executed by and among PNC Mortgage Securities
Corp., as Depositor, Certificate Administrator and Master Servicer (the
"Company"), IndyMac, Inc., as Master Servicer ("IndyMac") 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
Group V Trust Fund and the Mortgage Trust Fund. On the Closing Date, the
Company will acquire the Group V Trust Certificates and the Class R-2
Certificates from the Group V Trust Fund as consideration for its transfer to
the Group V Trust Fund of the Group V Loans and certain other assets and will
be the owner of the Group V Trust Certificates and the Class R-2
Certificates. Thereafter on the Closing Date, the Company will acquire the
Mortgage Trust Certificates and the Class R-1 Certificates from the Mortgage
Trust Fund as consideration for its transfer to the Mortgage Trust Fund of
the Mortgage Loans (other than the Group V Loans), the Group V Trust
Certificates and certain other assets and will be the owner of the Mortgage
Trust Certificates and the Class R-1 Certificates. Thereafter, on the Closing
Date, the Company will acquire the Certificate Trust Certificates and the
Class R Certificates from the Certificate Trust Fund as consideration for its
transfer to the Certificate Trust Fund of the Mortgage Trust Certificates and
will be the owner of the Certificate Trust Certificates and the Class R
Certificates. The Company has duly authorized the execution and delivery of
this Agreement to provide for (i) the conveyance to the Trustee of the Group
V Loans and the issuance to the Company of the Group V Trust Certificates
representing in the aggregate the entire beneficial ownership of the Group V
Trust Fund (except for that portion represented by the Class R-2
Certificates), (ii) the conveyance to the Trustee of the Mortgage Loans
(other than the Group V Loans) and the Group V Trust Certificates and the
issuance to the Company of the Mortgage Trust Certificates representing in
the aggregate the entire beneficial ownership of the Mortgage Trust Fund
(except for that portion represented by the Class R-1 Certificates) and (iii)
the conveyance to the Trustee by the Company of the Mortgage Trust
Certificates and the issuance of the Certificate Trust Certificates
representing in the aggregate the entire beneficial interest in the
Certificate Trust Fund (except for that portion represented by the Class R
Certificates). All covenants and agreements made by the Company and the
Trustee herein with respect to the Group V Loans and the other property
constituting the Group V Trust Fund are for the benefit of the Holders from
time to time of the Group V Trust Certificates and the Class R-2
Certificates. All covenants and agreements made by the Company and the
Trustee herein with respect to the Mortgage Loans (other than the Group V
Loans) and the Group V Trust Certificates and the other property constituting
the Mortgage Trust Fund are for the benefit of the Holders from time to time
of the Mortgage Trust Certificates and the Class R-1 Certificates. All
covenants and agreements made by the Company and the Trustee herein with
respect to the Mortgage Trust Certificates and the other property
constituting the Certificate Trust Fund are for the benefit of the Holders
from time to time of the Certificate Trust Certificates and the Class R
Certificates. The Company is entering into this Agreement, and the Trustee is
accepting the three separate trusts created hereby, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged.
1
<PAGE>
The Certificate Trust Certificates issued hereunder, other than the
Class II-A-1 and Junior Subordinate Certificates, have been offered for sale
pursuant to a Prospectus, dated November 24, 1997, and a Prospectus
Supplement, dated January 28, 1998, of the Company (together, the
"Prospectus"). The Class II-A-1 and Junior Subordinate Certificates have been
offered for sale pursuant to a Private Placement Memorandum, dated January
30, 1998. The Group V Trust Fund, the Mortgage Trust Fund and the
Certificate Trust Fund created hereunder are intended to be the "Group V
Trust", the "Mortgage Trust" and the "Certificate Trust," respectively, as
described in the Prospectus and the Private Placement Memorandum and the
Certificate Trust Certificates and the Residual Certificates are intended to
be the "Certificates" described therein. The following tables set forth the
designation, type of interest, initial Remittance Rate, initial Class
Principal Balance, initial Class Notional Amount, initial Component Principal
Balance, initial Component Notional Amount and last scheduled Distribution
Date for each Class of Certificates comprising the interests in the Group V
Trust Fund, the Mortgage Trust Fund and the Certificate Trust Fund created
hereunder:
GROUP V TRUST FUND
<TABLE>
<CAPTION>
Initial Class
Type of Remittance Principal Last Scheduled
Designation Interest Rate(1) Balance Distribution Date*
- --------------- ---------- ------------ --------------- ------------------
<S> <C> <C> <C> <C>
Class V-1 Regular (2) 235,195,234.25 February, 2028
Class V-2 Regular (3) 50,622.12 February, 2028
Class V-3 Regular (4) 184,859.22 February, 2028
Class V-4 Regular (5) 50,622.12 February, 2028
Class R-2+ Residual (6) 50.00 February, 2028
</TABLE>
* The Distribution Date in the month after the maturity date for the
latest maturing Mortgage Loan in Loan Group V.
+ The Class R-2 Certificates are entitled to receive the applicable
Residual Distribution Amount and the applicable Excess Liquidation
Proceeds.
(1) Interest distributed to the Group V Trust Certificates and Class R-2
Certificates on each Distribution Date will have accrued during the Prior
Period.
(2) The Remittance Rate on the Class V-1 Certificates will equal the Group V
Weighted Average Rate.
(3) The Remittance Rate on the Class V-2 Certificates will equal the Group V
Weighted Average Rate plus 2% per annum.
(4) The Remittance Rate on the Class V-3 Certificates will equal the Group V
Weighted Average Rate.
(5) The Remittance Rate on the Class V-4 Certificates will equal the Group V
Weighted Average Rate minus 2% per annum.
(6) The Remittance Rate on the Class R-2 Certificates for any Distribution
Date will equal the Group V Weighted Average Rate for such Distribution
Date.
As provided herein, with respect to the Group V Trust Fund, the Company
will cause an election to be made on behalf of the Group V Trust Fund to be
treated for federal income tax purposes as a REMIC. The Class V-1, Class V-2,
Class V-3 and Class V-4 Certificates will be designated regular interests in
the Group V Trust Fund and the Class R-2 Certificates will be designated the
sole class of residual interest in the Group V Trust Fund, for purposes of
the REMIC Provisions.
2
<PAGE>
MORTGAGE TRUST FUND
<TABLE>
<CAPTION>
Initial Class
Type of Remittance Principal Last Scheduled
Designation Interest Rate(1) Balance Distribution Date*
- --------------- ---------- ----------- -------------- ------------------
<S> <C> <C> <C> <C>
Class I-A-1-L Regular 7.000% 378,000,000.00 February, 2028
Class I-A-2-L Regular 7.000% 36,876,000.00 February, 2028
Class I-A-3-L Regular 7.000% 27,339,558.00 February, 2028
Class II-A-1-L (2) (2) 75,918,826.00 February, 2028
Class II-A-3-L Regular 7.150% 14,650,000.00 February, 2028
Class II-A-4-L Regular 7.150% 31,213,733.00 February, 2028
Class II-A-5-L Regular 6.750% 10,630,000.00 February, 2028
Class II-A-6-L Regular 6.500% 21,969,000.00 February, 2028
Class II-A-7-L Regular 7.150%(3) 8,500,000.00 February, 2028
Class II-A-8-L Regular 6.500% 3,472,000.00 February, 2028
Class II-A-9-L Regular 6.500% 46,123,000.00 February, 2028
Class II-A-10-L Regular 6.500% 3,649,000.00 February, 2028
Class III-A-1-L Regular 7.000% 122,441,779.00 January, 2028
Class IV-A-1-L Regular 6.750% 144,382,781.00 March, 2013
Class V-A-1-L Regular (4) 27,152,000.00 February, 2028
Class V-A-2-L Regular (5) 20,100,000.00 February, 2028
Class V-A-3-L Regular (6) 119,000,785.00 February, 2028
Class V-A-4-L Regular (7) 29,399,000.00 February, 2028
Class V-A-7-L Regular (8) 20,500,000.00 February, 2028
Class V-A-9-L Regular Variable (9) 10,499,000.00 February, 2028
Class I-X-L Regular 7.000%(10) --- February, 2028
Class II-X-L Regular 7.000%(11) --- February, 2028
Class III-X-L Regular 7.000%(12) --- January, 2028
Class IV-X-L Regular 6.750%(13) --- March, 2013
Class I-P-L Regular (14) 514,812.80 February, 2028
Class III-P-L Regular (14) 306,989.77 January, 2028
Class IV-P-L Regular (14) 87,050.03 March, 2013
Class I-B-1-L Regular 7.000% 11,376,214.00 February, 2028
Class I-B-2-L Regular 7.000% 4,356,848.00 February, 2028
Class I-B-3-L Regular 7.000% 1,936,377.00 February, 2028
Class I-B-4-L Regular 7.000% 1,694,329.00 February, 2028
Class I-B-5-L Regular 7.000% 1,210,235.00 February, 2028
Class I-B-6-L Regular 7.000% 1,210,238.56 February, 2028
Class II-B-1-L Regular 7.000% 5,704,501.00 February, 2028
Class II-B-2-L Regular 7.000% 2,074,364.00 February, 2028
Class II-B-3-L Regular 7.000% 1,140,900.00 February, 2028
Class II-B-4-L Regular 7.000% 726,027.00 February, 2028
Class II-B-5-L Regular 7.000% 622,309.00 February, 2028
Class II-B-6-L Regular 7.000% 622,312.18 February, 2028
Class III-B-1-L Regular 7.000% 2,570,654.00 January, 2028
Class III-B-2-L Regular 7.000% 1,349,593.00 January, 2028
Class III-B-3-L Regular 7.000% 642,663.00 January, 2028
Class III-B-4-L Regular 7.000% 385,598.00 January, 2028
Class III-B-5-L Regular 7.000% 385,598.00 January, 2028
Class III-B-6-L Regular 7.000% 449,868.06 January, 2028
Class IV-B-1-L Regular 6.750% 3,377,216.00 March, 2013
Class IV-B-2-L Regular 6.750% 750,492.00 March, 2013
Class IV-B-3-L Regular 6.750% 450,295.00 March, 2013
3
<PAGE>
Class IV-B-4-L Regular 6.750% 375,246.00 March, 2013
Class IV-B-5-L Regular 6.750% 375,246.00 March, 2013
Class IV-B-6-L Regular 6.750% 300,200.68 March, 2013
Class V-B-1-L Regular (15) 4,356,405.00 February, 2028
Class V-B-2-L Regular (15) 1,883,851.00 February, 2028
Class V-B-3-L Regular (15) 941,925.00 February, 2028
Class V-B-4-L Regular (15) 588,703.00 February, 2028
Class V-B-5-L Regular (15) 235,481.00 February, 2028
Class V-B-6-L Regular (15) 824,187.71 February, 2028
Class R-L Regular 7.000% 50.00 February, 2028
Class R-1+ Residual 7.000% 50.00 February, 2028
</TABLE>
* The Distribution Date in the month after the maturity date for the
latest maturing Mortgage Loan in the related Loan Group.
+ The Class R-1 Certificates are entitled to receive the applicable
Residual Distribution Amount and applicable Excess Liquidation Proceeds.
(1) Interest distributed to the Mortgage Trust Certificates and Class R-1
Certificates on each Distribution Date will have accrued during the Prior
Period, except for the Class P Certificates and Component II-A-1-1-L and
Component II-A-1-4-L of the Class II-A-1-L Certificates which will not be
entitled to receive interest.
(2) For purposes of calculating distributions, the Class II-A-1-L
Certificates will be comprised of five Components having the
designations, initial Component Principal Balances and Remittance Rates
set forth below:
<TABLE>
<CAPTION>
INITIAL COMPONENT
DESIGNATION PRINCIPAL BALANCE REMITTANCE RATE
-------------------- ----------------- ---------------
<S> <C> <C>
Component II-A-1-1-L $4,118,716 (A)
Component II-A-1-2-L 52,000,000 7.150%(B)
Component II-A-1-4-L 220,570 (C)
Component II-A-1-5-L 19,579,540 7.000%
Component II-A-1-6-L -- 7.000%(D)
</TABLE>
Each of the Components listed here will be a regular interest in the
REMIC comprising the Mortgage Trust.
(A) Component II-A-1-1-L will not be entitled to distributions of
interest.
(B) On each Distribution Date on or before the Component II-A-1-2
Accretion Termination Date, an amount equal to the
Component II-A-1-2 Accrual Amount will be added to the
Component II-A-1-2-L Principal Balance, and such amount will be
distributed as principal to other Components and Classes of
Certificates as set forth herein and will not be distributed as
interest to Component II-A-1-2-L.
(C) Component II-A-1-4-L will not be entitled to distributions of
interest and will receive principal only in respect of those
Mortgage Loans with Pass-Through Rates that are less than 7.000%.
(D) Component II-A-1-6-L will accrue interest on the Component II-A-1-6
Notional Amount.
(3) On each Distribution Date on or before the Class II-A-7 Accretion
Termination Date, an amount equal to the Class II-A-7 Accrual Amount
will be added to the Class II-A-7-L Principal Balance, and such amount
will be distributed as principal to Components and certain Classes of
Certificates as set forth herein and will not be distributed as
interest to the Class II-A-7-L Certificates.
(4) The Remittance Rate on the Class V-A-1-L Certificates will equal the
Group V Weighted Average Rate minus 0.053015% per annum.
(5) The Remittance Rate on the Class V-A-2-L Certificates will equal the
Group V Weighted Average Rate minus 0.053015% per annum.
(6) The Remittance Rate on the Class V-A-3-L Certificates will equal the
Group V Weighted Average Rate minus 0.053015% per annum.
(7) The Remittance Rate on the Class V-A-4-L Certificates will equal the
Group V Weighted Average Rate.
(8) The Remittance Rate on the Class V-A-7-L Certificates will equal the
weighted average of the Remittance Rates for the Class V-2 and Class
V-3 Certificates weighted on the basis of their
4
<PAGE>
respective Class Principal Balances.
(9) The Remittance Rate for the Class V-A-9-L Certificates for any
Distribution Date will equal the Group V Weighted Average Rate for
such Distribution Date
(10) The Class I-X-L Certificates will accrue interest on the Class I-X
Notional Amount.
(11) The Class II-X-L Certificates will accrue interest on the Class II-X
Notional Amount.
(12) The Class III-X-L Certificates will accrue interest on the Class III-X
Notional Amount.
(13) The Class IV-X-L Certificates will accrue interest on the Class IV-X
Notional Amount.
(14) The Class I-P-L, Class II-P-L and Class III-P-L Certificates will not
be entitled to receive distributions of interest.
(15) The Remittance Rate on the Class V-B-1-L, Class V-B-2-L, Class
V-B-3-L, Class V-B-4-L, Class V-B-5-L and Class V-B-6-L Certificates
will each equal the Group V Weighted Average Rate.
As provided herein, with respect to the Mortgage Trust Fund, the Company
will cause an election to be made on behalf of the Mortgage Trust Fund to be
treated for federal income tax purposes as a REMIC. The Class I-L, Class II-L
(other than Class II-A-1-L), Class III-L, Class IV-L, Class V-L and Class R-L
Certificates and Component II-A-1-1-L, Component II-A-1-2-L, Component
II-A-1-4-L, Component II-A-1-5-L and Component II-A-1-6-L will be designated
regular interests in the Mortgage Trust Fund and the Class R-1 Certificates
will be designated the sole class of residual interest in the Mortgage Trust
Fund, for purposes of the REMIC Provisions.
5
<PAGE>
CERTIFICATE TRUST FUND
<TABLE>
<CAPTION>
Initial Class
Type of Remittance Principal Last Scheduled
Designation Interest Rate (1) Balance Distribution Date*
- -------------- --------- ----------- ---------------- ------------------
<S> <C> <C> <C> <C>
Class I-A-1 Regular 7.000% 378,000,000.00 February, 2028
Class I-A-2 Regular 7.000% 36,876,000.00 February, 2028
Class I-A-3 Regular 7.000% 27,339,558.00 February, 2028
Class II-A-1 (2) (2) 75,918,826.00 February, 2028
Class II-A-2 Regular 6.950% (3) ---------- February, 2028
Class II-A-3 Regular 7.150% 14,650,000.00 February, 2028
Class II-A-4 Regular 7.150% 31,213,733.00 February, 2028
Class II-A-5 Regular 6.750% 10,630,000.00 February, 2028
Class II-A-6 Regular 6.500% 21,969,000.00 February, 2028
Class II-A-7 Regular 7.150% (4) 8,500,000.00 February, 2028
Class II-A-8 Regular 6.500% 3,472,000.00 February, 2028
Class II-A-9 Regular 6.500% 46,123,000.00 February, 2028
Class II-A-10 Regular 6.500% 3,649,000.00 February, 2028
Class II-A-11 Regular 6.750%(5) ---------- February, 2028
Class III-A-1 Regular 7.000% 122,441,779.00 January, 2028
Class IV-A-1 Regular 6.750% 144,382,781.00 March, 2013
Class V-A-1 Regular Variable (6) 27,152,000.00 February, 2028
Class V-A-2 Regular Variable (7) 20,100,000.00 February, 2028
Class V-A-3 Regular Variable (8) 119,000,785.00 February, 2028
Class V-A-4 Regular Variable (9) 29,399,000.00 February, 2028
Class V-A-5 Regular 0.190805% (10) ---------- February, 2028
Class V-A-6 Regular 0.200% (11) ---------- February, 2028
Class V-A-7 Regular Variable (12) 20,500,000.00 February, 2028
Class V-A-8 Regular 0.459194% (13) ---------- February, 2028
Class V-A-9 Regular Variable (14) 10,499,000.00 February, 2028
Class I-X Regular 7.000% (15) ---------- February, 2028
Class II-X Regular 7.000% (16) ---------- February, 2028
Class III-X Regular 7.000% (17) ---------- January, 2028
Class IV-X Regular 6.750% (18) ---------- March, 2013
Class I-P Regular (19) 514,812.80 February, 2028
Class III-P Regular (19) 306,989.77 January, 2028
Class IV-P Regular (19) 87,050.03 March, 2013
Class I-B-1 Regular 7.000% 11,376,214.00 February, 2028
Class I-B-2 Regular 7.000% 4,356,848.00 February, 2028
Class I-B-3 Regular 7.000% 1,936,377.00 February, 2028
Class I-B-4 Regular 7.000% 1,694,329.00 February, 2028
Class I-B-5 Regular 7.000% 1,210,235.00 February, 2028
Class I-B-6 Regular 7.000% 1,210,238.56 February, 2028
Class II-B-1 Regular 7.000% 5,704,501.00 February, 2028
Class II-B-2 Regular 7.000% 2,074,364.00 February, 2028
Class II-B-3 Regular 7.000% 1,140,900.00 February, 2028
Class II-B-4 Regular 7.000% 726,027.00 February, 2028
Class II-B-5 Regular 7.000% 622,309.00 February, 2028
Class II-B-6 Regular 7.000% 622,312.18 February, 2028
Class III-B-1 Regular 7.000% 2,570,654.00 January, 2028
Class III-B-2 Regular 7.000% 1,349,593.00 January, 2028
Class III-B-3 Regular 7.000% 642,663.00 January, 2028
Class III-B-4 Regular 7.000% 385,598.00 January, 2028
6
<PAGE>
Class III-B-5 Regular 7.000% 385,598.00 January, 2028
Class III-B-6 Regular 7.000% 449,868.06 January, 2028
Class IV-B-1 Regular 6.750% 3,377,216.00 March, 2013
Class IV-B-2 Regular 6.750% 750,492.00 March, 2013
Class IV-B-3 Regular 6.750% 450,295.00 March, 2013
Class IV-B-4 Regular 6.750% 375,246.00 March, 2013
Class IV-B-5 Regular 6.750% 375,246.00 March, 2013
Class IV-B-6 Regular 6.750% 300,200.68 March, 2013
Class V-B-1 Regular Variable (20) 4,356,405.00 February, 2028
Class V-B-2 Regular Variable (20) 1,883,851.00 February, 2028
Class V-B-3 Regular Variable (20) 941,925.00 February, 2028
Class V-B-IO Regular 0.200% (21) ---------- February, 2028
Class V-B-4 Regular Variable (22) 588,703.00 February, 2028
Class V-B-5 Regular Variable (22) 235,481.00 February, 2028
Class V-B-6 Regular Variable (22) 824,187.71 February, 2028
Class R+ Residual 7.000% 50.00 February, 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 applicable
Residual Distribution Amount.
(1) Interest distributed to the Certificate Trust Certificates and Class R
Certificates on each Distribution Date will have accrued during the
Prior Period, except for the Class P Certificates and Component
II-A-1-1 and Component II-A-1-4 of the Class II-A-1 Certificates which
will not be entitled to receive interest.
(2) For purposes of calculating distributions, the Class II-A-1
Certificates will be comprised of six Components having the
designations, initial Component Principal Balances and Remittance Rates
set forth below:
<TABLE>
<CAPTION>
INITIAL COMPONENT
DESIGNATION PRINCIPAL BALANCE REMITTANCE RATE
----------- ----------------- ---------------
<S> <C> <C>
Component II-A-1-1 $4,118,716 (A)
Component II-A-1-2 52,000,000 7.150%(B)
Component II-A-1-3 -- 7.150%(C)
Component II-A-1-4 220,570 (D)
Component II-A-1-5 19,579,540 7.000%
Component II-A-1-6 -- 7.000%(E)
</TABLE>
Each of the Components listed here will be a regular interest in the
REMIC comprising the Certificate Trust.
(A) Component II-A-1-1 will not be entitled to distributions of
interest.
(B) On each Distribution Date on or before the Component II-A-1-2
Accretion Termination Date, an amount equal to the Component
II-A-1-2 Accrual Amount will be added to the Component II-A-1-2
Principal Balance, and such amount will be distributed as
principal to a Component and Classes of Certificates as set forth
herein and will not be distributed as interest to Component
II-A-1-2.
(C) Component II-A-1-3 will accrue interest on the Component II-A-1-3
Notional Amount.
(D) Component II-A-1-4 will not be entitled to distributions of
interest and will receive principal only in respect of those
Group II Loans with Pass-Through Rates that are less than 7.000%.
(E) Component II-A-1-6 will accrue interest on the Component II-A-1-6
Notional Amount.
(3) The Class II-A-2 Certificates will accrue interest on the Class II-A-2
Notional Amount. The Class II-A-2 Notional Amount for any Distribution
Date will equal the aggregate Class Principal Balance of the Class
II-A-5, Class II-A-6, Class II-A-8, Class II-A-9 and Class II-A-10
Certificates immediately prior to such Distribution Date divided by
34.75.
(4) On each Distribution Date on or before the Class II-A-7 Accretion
Termination Date, an amount equal to the Class II-A-7 Accrual
Amount will be added to the Class II-A-7 Principal Balance, and
such amount will be distributed as principal to Component
II-A-1-2 and certain Classes of Certificates as set forth herein
and will not be distributed as interest to the Class II-A-7
Certificates.
7
<PAGE>
(5) The Class II-A-11 Certificates will accrue interest on the Class
II-A-11 Notional Amount. The Class II-A-11 Notional Amount for
any Distribution Date will equal the aggregate Class Principal of
the Class II-A-6, Class II-A-8, Class II-A-9 and Class II-A-10
Certificates immediately prior to such Distribution Date divided
by 27.
(6) The Remittance Rate on the Class V-A-1 Certificates will equal the
Group V Weighted Average Rate minus 0.243820% per annum.
(7) The Remittance Rate on the Class V-A-2 Certificates will equal the
Group V Weighted Average Rate minus 0. 243820% per annum.
(8) The Remittance Rate on the Class V-A-3 Certificates will equal the
Group V Weighted Average Rate minus 0.703014% per annum.
(9) The Remittance Rate on the Class V-A-4 Certificates will equal the
Group V Weighted Average Rate minus 0.200% per annum.
(10) The Class V-A-5 Certificates will accrue interest on the Class V-A-5
Notional Amount. The "Class V-A-5 Notional Amount" for any
Distribution Date will equal the aggregate Class Principal Balance of
the Class V-A-1, Class V-A-2 and Class V-A-3 Certificates immediately
prior to such Distribution Date.
(11) The Class V-A-6 Certificates will accrue interest on the Class V-A-6
Notional Amount. The "Class V-A-6 Notional Amount" for any Distribution
Date will equal the aggregate Class Principal Balance of the Class
V-A-4 and Class V-A-9 Certificates immediately prior to such
Distribution Date.
(12) The Remittance Rate on the Class V-A-7 Certificates will equal the
weighted average of the Remittance Rates for the Class V-2 and Class
V-3 Certificates weighted on the basis of their respective Class
Principal Balances.
(13) The Class V-A-8 Certificates will accrue interest on the Class V-A-8
Notional Amount. The "Class V-A-8 Notional Amount" for any Distribution
Date will equal the Class V-A-3 Principal Balance immediately prior to
such Distribution Date.
(14) The Remittance Rate for the Class V-A-9 Certificates will equal the
Group V Weighted Average Rate for such Distribution Date minus 0.200%
per annum.
(15) The Class I-X Certificates will accrue interest on the Class I-X
Notional Amount.
(16) The Class II-X Certificates will accrue interest on the Class II-X
Notional Amount.
(17) The Class III-X Certificates will accrue interest on the Class III-X
Notional Amount.
(18) The Class IV-X Certificates will accrue interest on the Class IV-X
Notional Amount.
(19) The Class I-P, Class III-P and Class IV-P Certificates will not be
entitled to receive distributions of interest.
(20) The Remittance Rate on the Class V-B-1, Class V-B-2 and Class V-B-3
Certificates will each equal the Group V Weighted Average Rate for such
Distribution Date minus 0.200% per annum.
(21) The Class V-B-IO Certificates will accrue interest on the Class V-B-IO
Notional Amount. The Class V-B-IO Notional Amount for any Distribution
Date will equal the aggregate Class Principal Balance of the Class
V-B-1, Class V-B-2 and Class V-B-3 Certificates immediately prior to
such Distribution Date. The Class V-B-IO Certificates will receive
interest distributions in three portions concurrently with the interest
distributions to each of the Class V-B-1, Class V-B-2 and Class V-B-3
Certificates, each such portion being equal to the product of the Class
V-B-IO Remittance Rate and the portion of the Class V-B-IO Notional
Amount represented by the Class V-B-1 Principal Balance, the Class
V-B-2 Principal Balance and the Class V-B-3 Principal Balance,
respectively.
(22) The Remittance Rate on the Class V-B-4, Class V-B-5 and Class V-B-6
Certificates will each equal the Group V Weighted Average Rate for such
Distribution Date.
As provided herein, with respect to the Certificate Trust Fund, the
Company will cause an election to be made on behalf of the Certificate Trust
Fund to be treated for federal income tax purposes as a REMIC. The Group I,
Group II (other than Class II-A-1), Group III, Group IV and Group V
Certificates and Component II-A-1-1, Component II-A-1-2, Component II-A-1-3,
Component II-A-1-4, Component II-A-1-5 and Component II-A-1-6 will be
designated regular interests in the Certificate Trust Fund and the Class R
Certificates will be designated the sole class of residual interest in the
Certificate Trust Fund, for purposes of the REMIC Provisions. As of the
Cut-Off Date, the Mortgage Loans have an aggregate Principal Balance of
$1,205,643,341.83, the Group V Trust Certificates and the Class R-2
Certificates have an aggregate Certificate Principal Balance of
$235,481,387.71, the Mortgage Trust Certificates and the Class R-1
Certificates have an Aggregate Certificate Principal Balance of
$1,205,643,341.83 and the
8
<PAGE>
Certificate Trust Certificates and the Class R Certificates have an Aggregate
Certificate Principal Balance of $1,205,643,341.83.
W I T N E S S E T H :
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 a trust (the
"Group V Trust") to (i) hold the Group V Trust Fund, consisting of the Group
V Loans and certain other property and (ii) sell undivided beneficial
ownership interests in such Group V Trust and in order to do so is selling
the Group V Trust Certificates and Class R-2 Certificates issued hereunder as
hereinafter provided;
WHEREAS, the Company has been duly authorized to create a trust (the
"Mortgage Trust") to (i) hold the Mortgage Trust Fund, consisting of the
Mortgage Loans (other than the Group V Loans) and the Group V Trust
Certificates and certain other property and (ii) sell undivided beneficial
ownership interests in such Mortgage Trust and in order to do so is selling
the Mortgage Trust Certificates and Class R-1 Certificates issued hereunder
as hereinafter provided;
WHEREAS, the Company has been duly authorized to create a trust (the
"Certificate Trust") to (i) hold the Certificate Trust Fund consisting of the
Mortgage Trust Certificates and (ii) sell undivided beneficial ownership
interests in such Certificate Trust and in order to do so is selling the
Certificate Trust Certificates and Class R 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 and IndyMac, Inc. covenant
and agree with the Trustee, for the equal and proportionate benefit of the
respective Holders from time to time of the Certificates, as follows:
9
<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:
ACCRETION DIRECTED CLASSES: With respect to the Group II Certificates,
the Class II-A-3, Class II-A-4 and Class II-A-7 Certificates, as applicable,
and the Corresponding Classes of the Group II-L Certificates and with respect
to the Group V Certificates, the Class V-A-1, Class V-A-2, Class V-A-3 and
Class V-A-7 Certificates, as applicable, and the Corresponding Classes of the
Group V-L Certificates.
AGGREGATE CERTIFICATE PRINCIPAL BALANCE: At any given time, (a) the sum
of the then current Class Principal Balances of the Certificate Trust
Certificates and Class R Certificates, (b) the sum of the then current Class
Principal Balances of the Mortgage Trust Certificates and Class R-1
Certificates or (c) the sum of the then current Class Principal Balances of
the Group V Trust Certificates and Class R-2 Certificates, as applicable.
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 or mortgage 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 I-A-1, Class I-A-1-L, Class I-A-2, Class I-A-2-L, Class II-A-2,
Class II-A-11, Class V-A-5, Class V-A-6, Class V-A-8, Class V-B-IO, Class X,
Class X-L, Residual and Class R-L Certificates), an initial Certificate
Principal Balance equal to $25,000 and integral multiples of $1 in excess
thereof, except that one Class I-P, Class I-P-L, Class III-P, Class III-P-L,
Class IV-P and Class IV-P-L Certificate may be issued in a different amount.
With respect to the Class I-A-1, Class I-A-1-L, Class I-A-2 and Class I-A-2-L
Certificates, an initial Certificate Principal Balance equal to $1,000 and
integral multiples of $1 in excess thereof. With respect to the Class X,
Class X-L, Class II-A-2, Class II-A-11, Class V-B-IO, Class V-A-5, Class
V-A-6 and Class V-A-8 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 each of the Residual Certificates, one Certificate with a
Percentage Interest equal to 0.01% and one Certificate with a Percentage
Interest equal to 99.99%. With respect to the Class R-L Certificates, one
Certificate with an initial Certificate Principal Balance equal to $50.
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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 Agencies that such reduction will not adversely
affect the then current ratings assigned to the Certificates by the Rating
Agencies.
BANKRUPTCY COVERAGE INITIAL AMOUNT: With respect to the Group I
Certificates, $166,816, with respect to the Group II Certificates, $100,000,
with respect to the Group III Certificates, $100,000, with respect to the
Group IV Certificates, $100,000, and with respect to the Group V
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 that are Certificate
Trust Certificates (except the Class II-A-1 Certificates, Class II-A-2, Class
II-A-11, Class V-A-5, Class V-A-6, Class V-A-8 and Class V-A-9
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.
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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 Agencies) created,
maintained and monitored by a Servicer or (c) in a separate non-trust account
without FDIC or other insurance in an Eligible Institution. Such account or
accounts may be non-interest bearing or may bear interest. In the event that
a Buydown Fund Account is established pursuant to clause (b) of the preceding
sentence, amounts held in such Buydown Fund Account shall not exceed the
level of deposit insurance coverage on such account; accordingly, more than
one Buydown Fund Account may be established.
BUYDOWN LOAN: A Mortgage Loan for which the Mortgage Interest Rate has
been subsidized through a Buydown Fund provided at the time of origination of
such Mortgage Loan.
CERTIFICATE: Any one of the Mortgage Trust Certificates, the Certificate
Trust Certificates, the Group V Trust Certificates or the Residual
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 I, II, III, IV, V and B hereto. The
additional matters appearing in Exhibits K, H and O shall be deemed
incorporated into Exhibits I, II, III, IV, V and B as though set forth at the
end of such exhibits, 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 Agencies 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 Agencies. Funds in the Certificate Account in
respect of the Mortgage Loans in each of the Loan Groups 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 the
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, Section 4.01, Section 4.05 and Section 4.07.
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, 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 or a Master Servicer.
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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 GROUP: Any of the Group I, Group I-L, Group II, Group II-L,
Group III, Group III-L, Group IV, Group IV-L, Group V, Group V-L and the
Residual Certificates. With respect to the Mortgage Trust Certificates, the
"related Certificate Group" for Loan Group I is the Group I-L Certificates,
and so forth. With respect to the Certificate Trust Certificates, the
"related Certificate Group" for the Group I-L Certificates is the Group I
Certificates, and so forth.
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.
CERTIFICATE TRUST: As defined in Section 2.05.
CERTIFICATE TRUST AVAILABLE DISTRIBUTION AMOUNT: With respect to each
Certificate Group of Certificate Trust Certificates, on any Distribution
Date, the aggregate of all distributions with respect to the related
Certificate Group of Mortgage Trust Certificates.
CERTIFICATE TRUST CERTIFICATE DISTRIBUTION AMOUNT: The Certificate
Trust Available Distribution Amount for the related Certificate Group of
Certificate Trust Certificates shall be distributed to the Certificate Trust
Certificates of the related Certificate Group in the following amounts and
priorities:
(a) With respect to the Group I Certificates, Component II-A-1-5 of
the Class II-A-1 Certificates and the Class R Certificates, to the extent of
the Certificate Trust Available Distribution Amount for the Group I
Certificates:
(i) to each Class of Group I Certificates and Component
II-A-1-5 of the Class II-A-1 Certificates, the amounts distributed to
its Corresponding Class (or Corresponding Component) on such
Distribution Date;
(ii) to the Class R Certificates, the sum of (a) the amounts
distributed to its Corresponding Class on such Distribution Date, and
(b) the applicable Residual Distribution Amount, if any.
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(b) With respect to the Group II Certificates (other than with
respect to the Class II-A-1 Certificates, Component II-A-1-5 thereof) and the
Class R Certificates, to the extent of the Certificate Trust Available
Distribution Amount for the Group II Certificates:
(i) to each Class of Group II Certificates other than the
Class II-A-2, Class II-A-5, Class II-A-6, Class II-A-8, Class II-A-9,
Class II-A-10 and Class II-A-11 Certificates and Component II-A-1-3 of
the Class II-A-1 Certificates, the amounts distributed to its
Corresponding Class on such Distribution Date, and with respect to
Component II-A-1-1, Component II-A-1-2, Component II-A-1-4, Component
II-A-1-5 and Component II-A-1-6 of the Class II-A-2 Certificates, the
amounts distributed to the Corresponding Components on such Distribution
Date;
(ii) (A) to the Class II-A-5, Class II-A-6, Class II-A-8,
Class II-A-9 and Class II-A-10 Certificates, the amounts distributed to
the Corresponding Classes of such Certificates as principal on such
Distribution Date and (B) to the Class II-A-2, Class II-A-5, Class
II-A-6, Class II-A-8, Class II-A-9, Class II-A-10 and Class II-A-11
Certificates and Component II-A-1-3 of the Class II-A-1 Certificates,
concurrently, the amounts distributed as interest to the Class II-A-5-L,
Class II-A-6-L, Class II-A-8-L, Class II-A-9-L and Class II-A-10-L
Certificates on such Distribution Date, concurrently as follows: (I) to
the Class II-A-2 Certificates, an amount equal to the product of the
Class II-A-2 Remittance Rate and the Class II-A-2 Notional Amount; (II)
to the Class II-A-5 Certificates, an amount equal to the product of the
Class II-A-5 Remittance Rate and the Class II-A-5 Principal Balance on
such Distribution Date (before allocating Realized Losses and giving
effect to distributions of principal and interest, in each case, on such
Distribution Date); (III) to the Class II-A-6 Certificates, an amount
equal to the product of the Class II-A-6 Remittance Rate and the Class
II-A-6 Principal Balance (before allocating Realized Losses and giving
effect to distributions of principal and interest, in each case, on such
Distribution Date); (IV) to the Class II-A-8 Certificates, an amount
equal to the product of the Class II-A-8 Remittance Rate and the Class
II-A-8 Principal Balance (before allocating Realized Losses and giving
effect to distributions of principal and interest, in each case, on such
Distribution Date); (V) to the Class II-A-9 Certificates, an amount
equal to the product of the Class II-A-9 Remittance Rate and the Class
II-A-9 Principal Balance (before allocating Realized Losses and giving
effect to distributions of principal and interest, in each case, on such
Distribution Date); (VI) to the Class II-A-10 Certificates, an amount
equal to the product of the Class II-A-10 Remittance Rate and the Class
II-A-10 Principal Balance (before allocating Realized Losses and giving
effect to distributions of principal and interest, in each case, on such
Distribution Date); and (VII) to Component II-A-1-3 of the Class II-A-1
Certificates, an amount equal to the product of the Component II-A-1-3
Remittance Rate and the Component II-A-1-3 Notional Amount;
(iii) to the Class R Certificates, the sum of (a) the amounts
distributed to its Corresponding Class on such Distribution Date, and
(b) the applicable Residual Distribution Amount, if any.
(c) With respect to the Group III Certificates and the Class R
Certificates, to the extent of the Certificate Trust Available Distribution
Amount for the Group III Certificates:
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(i) to each Class of Group III Certificates, the amounts
distributed to its Corresponding Class on such Distribution Date;
(ii) to the Class R Certificates, the sum of (a) the amounts
distributed to its Corresponding Class on such Distribution Date,
and (b) the applicable Residual Distribution Amount, if any.
(d) With respect to the Group IV Certificates and the Class R
Certificates, to the extent of the Certificate Trust Available Distribution
Amount for the Group IV Certificates:
(i) to each Class of Group IV Certificates, the amounts
distributed to its Corresponding Class on such Distribution Date;
(ii) to the Class R Certificates, the sum of (a) the amounts
distributed to its Corresponding Class on such Distribution Date, and
(b) the applicable Residual Distribution Amount, if any.
(e) With respect to the Group V Certificates and the Class R
Certificates, to the extent of the Certificate Trust Available Distribution
Amount for the Group V Certificates:
(i) first, to the Class V-B-4, Class V-B-5 and Class V-B-6
Certificates, the amounts distributed to its Corresponding Class on such
Distribution Date;
(ii) second, (A) to the Class V-A-1, Class V-A-2, Class
V-A-3, Class V-A-4, Class V-A-7 and Class V-A-9 Certificates, the
amounts distributed to the Corresponding Classes of such Certificates as
principal on such Distribution Date and (B) to the Class V-A-7
Certificates, the amounts distributed, if any, to its Corresponding
Class as interest on such Distribution Date;
(iii) third to the Class V-A-1, Class V-A-2, Class V-A-3,
Class V-A-5 and Class V-A-8 Certificates, the amount distributed as
interest to the Class V-A-1-L, Class V-A-2-L and Class V-A-3-L
Certificates concurrently as follows, (x) to the Class V-A-1, Class
V-A-2 and Class V-A-3 Certificates, an amount equal to the product of
the respective Remittance Rates and the respective Class Principal
Balances for each of such Certificates on such Distribution Date before
allocating Realized Losses and giving effect to distributions of
principal and interest, in each case for such Distribution Date, and (y)
to the Class V-A-5 and Class V-A-8 Certificates, an amount equal to the
product of the respective Remittance Rates and the respective Class
Notional Amounts on such Distribution Date;
(iv) fourth, (A) to the Class V-B-1, Class V-B-2 and Class
V-B-3 Certificates, the amounts distributed as principal to the
Corresponding Class on such Distribution Date, (B) to the Class V-B-1
and Class V-B-IO Certificates, the amount distributed as interest to the
Class V-B-1-L Certificates concurrently as follows: (x) to the Class
V-B-1 Certificates, an amount equal to the product of the Class V-B-1
Remittance Rate and the Class V-B-1 Principal Balance before allocating
Realized Losses and giving effect to distributions of principal and
interest, in each case for such Distribution Date and (y) to
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the Class V-B-IO Certificates, an amount equal to the product of the
Class V-B-IO Remittance Rate and the Class V-B-1 Principal Balance
before allocating Realized Losses and giving effect to distributions of
principal and interest, in each case for such Distribution Date, (C) to
the Class V-B-2 and Class V-B-IO Certificates, the amount distributed as
interest to the Class V-B-2-L Certificates concurrently as follows: (x)
to the Class V-B-2 Certificates, an amount equal to the product of the
Class V-B-2 Remittance Rate and the Class V-B-2 Principal Balance before
allocating Realized Losses and giving effect to distributions of
principal and interest, in each case for such Distribution Date and (y)
to the Class V-B-IO Certificates, an amount equal to the product of the
Class V-B-IO Remittance Rate and the Class V-B-2 Principal Balance
before allocating Realized Losses and giving effect to distributions of
principal and interest, in each case for such Distribution Date and (D)
to the Class V-B-3 and Class V-B-IO Certificates, the amount distributed
as interest to the Class V-B-3-L Certificates concurrently as follows:
(x) to the Class V-B-3 Certificates, an amount equal to the product of
the Class V-B-3 Remittance Rate and the Class V-B-3 Principal Balance
before allocating Realized Losses and giving effect to distributions of
principal and interest, in each case for such Distribution Date and (y)
to the Class V-B-IO Certificates, an amount equal to the product of the
Class V-B-IO Remittance Rate and the Class V-B-3 Principal Balance
before allocating Realized Losses and giving effect to distributions of
principal and interest, in each case for such Distribution Date;
(v) fifth, (A) to the Class V-A-4 and Class V-A-6
Certificates, the amount distributed as interest to the Class V-A-4-L
Certificates on such Distribution Date concurrently as follows, (x) to
the Class V-A-4 Certificates, an amount equal to the product of the
Class V-A-4 Remittance Rate and the Class V-A-4-L Principal Balance on
such Distribution Date before allocating Realized Losses and giving
effect to distributions of principal and interest, in each case for such
Distribution Date, (y) to the Class V-A-6 Certificates, an amount equal
to the product of the Class V-A-6 Remittance Rate and the Class V-A-4-L
Principal Balance on such Distribution Date, before allocating Realized
Losses and giving effect to distributions of principal and interest, in
each case for such Distribution Date; and (B) to the Class V-A-9 and
Class V-A-6 Certificates, the amount distributed as interest to the
Class V-A-9-L Certificates on such Distribution Date concurrently as
follows, (x) to the Class V-A-9 Certificates, an amount equal to the
product of the Class V-A-9 Remittance Rate and the Class V-A-9 Principal
Balance on such Distribution Date before allocating Realized Losses and
giving effect to distributions of principal and interest, in each case
for such Distribution Date, (y) to the Class V-A-6 Certificates, an
amount equal to the product of the Class V-A-6 Remittance Rate and the
Class V-A-9 Principal Balance on such Distribution Date, before
allocating Realized Losses and giving effect to distributions of
principal and interest, in each case for such Distribution Date;
(iii) to the Class R Certificates, the sum of (a) the amounts
distributed to its Corresponding Class on such Distribution Date, and
(b) the applicable Residual Distribution Amount, if any.
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In each case where a distribution is required to be made concurrently to
two Classes of Certificate Trust Certificates pursuant to the preceding
sentence, if the portion of the Mortgage Trust Certificate Distribution
Amount from which such distribution is required to be made is insufficient to
make such distribution in full to both Classes of Certificate Trust
Certificates, such distribution shall be allocated between the two Classes of
Certificate Trust Certificates pro rata according to the respective amounts
to which they are otherwise entitled from such distribution.
CERTIFICATE TRUST CERTIFICATES: The Group I, Group II, Group III, Group
IV and Group V Certificates issued pursuant to this Agreement.
CERTIFICATE TRUST FUND: The Certificate Trust Fund created pursuant to
Section 2.05 of this Agreement. The Certificate Trust Fund consists of the
Mortgage Trust Certificates to be held by the Trustee for the benefit of the
Holders from time to time of the Certificate Trust Certificates and the Class
R Certificates hereunder.
CLASS: All Group V Trust Certificates or the Class R-2 Certificates
having the same priority and rights to payments on the Mortgage Loans from
the Group V Trust Available Distribution Amount, all Mortgage Trust
Certificates or the Class R-1 Certificates having the same priority and
rights to payments on the Mortgage Loans (other than the Group V Loans) and
the Group V Trust Certificates from the Mortgage Trust Available Distribution
Amount and all Certificate Trust Certificates or the Class R Certificates
having the same priority and rights to payment from distributions on the
Mortgage Trust Certificates, as applicable, which Certificates, as
applicable, shall be designated as a separate Class, as set forth in the
applicable forms of Certificates attached hereto as Exhibits I, II, III, IV
and V. Each Class of Group V Trust Certificates and the Class R-2
Certificates shall be entitled to receive the amounts allocated to such Class
pursuant to the definition of "Group V Trust Certificate Distribution Amount"
only to the extent of the Group V Trust Available Distribution Amount for
such Distribution Date remaining after distributions in accordance with prior
clauses of the definition of "Group V Trust Certificate Distribution Amount,"
each Class of Mortgage Trust Certificates and the Class R-1 Certificates
shall be entitled to receive the amounts allocated to such Class pursuant to
the definition of "Mortgage Trust Certificate Distribution Amount" only to
the extent of the Mortgage Trust Available Distribution Amount for such
Distribution Date remaining after distributions in accordance with prior
clauses of the definition of "Mortgage Trust Certificate Distribution
Amount," and each Class of Certificate Trust Certificates and the Class R
Certificates shall be entitled to receive the amounts allocated to such Class
pursuant to the definition of "Certificate Trust Certificate Distribution
Amount" only to the extent of the Certificate Trust Available Distribution
Amount for such Distribution Date remaining after distributions in accordance
with prior clauses of the definition of "Certificate Trust Certificate
Distribution Amount."
CLASS A CERTIFICATES: With respect to the Mortgage Trust Certificates,
the Group I-A-L, Group II-A-L, Class III-A-1-L, Class IV-A-1-L and Group
V-A-L Certificates, collectively. With respect to the Certificate Trust
Certificates, the Group I-A, Group II-A, Class III-A-1, Class IV-A-1 and
Group V-A Certificates, collectively.
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CLASS B CERTIFICATES: With respect to the Mortgage Trust Certificates,
the Group I-B-L, Group II-B-L, Group III-B-L, Group IV-B-L and Group V-B-L
Certificates, collectively. With respect to the Certificate Trust
Certificates, the Group I-B, Group II-B, Group III-B, Group IV-B and Group
V-B Certificates, collectively.
CLASS P CERTIFICATES: With respect to the Mortgage Trust Certificates,
the Class I-P-L, Class III-P-L and Class IV-P-L Certificates, collectively.
With respect to the Certificate Trust Certificates, the Class I-P, Class
III-P and Class IV-P Certificates, collectively.
CLASS P MORTGAGE LOAN: Any of the Class I-P, Class III-P, Class IV-P or
II-PO Mortgage Loans.
CLASS P FRACTION: Any of the Class I-P, Class III-P, Class IV-P or II-PO
Fractions, as applicable.
CLASS X CERTIFICATES: With respect to the Mortgage Trust Certificates,
the Class I-X-L, Class II-X-L, Class III-X-L and Class IV-X-L Certificates,
collectively. With respect to the Certificate Trust Certificates, the Class
I-X, Class II-X, Class III-X and Class IV-X 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
I-A-1.
CLASS I-A-1-L CERTIFICATES: The Certificates designated as "Class
I-A-1-L" on the face thereof in substantially the form attached hereto as
Exhibit I-A-1-L.
CLASS I-A-2 CERTIFICATES: The Certificates designated as "Class I-A-2"
on the face thereof in substantially the form attached hereto as Exhibit
I-A-2.
CLASS I-A-2-L CERTIFICATES: The Certificates designated as "Class
I-A-2-L" on the face thereof in substantially the form attached hereto as
Exhibit I-A-2-L .
CLASS I-A-3 CERTIFICATES: The Certificates designated as "Class I-A-3"
on the face thereof in substantially the form attached hereto as Exhibit
I-A-3.
CLASS I-A-3-L CERTIFICATES: The Certificates designated as "Class
I-A-3-L" on the face thereof in substantially the form attached hereto as
Exhibit I-A-3-L.
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
I-B-1.
CLASS I-B-1-L CERTIFICATES: The Certificates designated as "Class
I-B-1-L" on the face thereof in substantially the form attached hereto as
Exhibit I-B-1-L.
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
I-B-2.
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CLASS I-B-2-L CERTIFICATES: The Certificates designated as "Class
I-B-2-L" on the face thereof in substantially the form attached hereto as
Exhibit I-B-2-L.
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
I-B-3.
CLASS I-B-3-L CERTIFICATES: The Certificates designated as "Class
I-B-3-L" on the face thereof in substantially the form attached hereto as
Exhibit I-B-3-L.
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
I-B-4.
CLASS I-B-4-L CERTIFICATES: The Certificates designated as "Class
I-B-4-L" on the face thereof in substantially the form attached hereto as
Exhibit I-B-4-L.
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
I-B-5.
CLASS I-B-5-L CERTIFICATES: The Certificates designated as "Class
I-B-5-L" on the face thereof in substantially the form attached hereto as
Exhibit I-B-5-L.
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
I-B-6.
CLASS I-B-6-L CERTIFICATES: The Certificates designated as "Class
I-B-6-L" on the face thereof in substantially the form attached hereto as
Exhibit I-B-6-L.
CLASS I-P CERTIFICATES: The Certificates designated as "Class I-P" on
the face thereof in substantially the form attached hereto as Exhibit I-P.
CLASS I-P FRACTION: For each Class I-P Mortgage Loan, a fraction, the
numerator of which is 7.000% less the Pass-Through Rate on such Class I-P
Mortgage Loan and the denominator of which is 7.000%.
CLASS I-P-L CERTIFICATES: The Certificates designated as "Class I-P-L"
on the face thereof in substantially the form attached hereto as Exhibit
I-P-L.
CLASS I-P MORTGAGE LOAN: Any Group I Loan with a Pass-Through Rate of
less than 7.000% per annum.
CLASS I-X CERTIFICATES: The Certificates designated as "Class I-X" on
the face thereof in substantially the form attached hereto as Exhibit I-X.
CLASS I-X-L CERTIFICATES: The Certificates designated as "Class I-X-L"
on the face thereof in substantially the form attached hereto as Exhibit
I-X-L.
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
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<PAGE>
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 7.000%.
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
II-A-1.
CLASS II-A-1-L CERTIFICATES: The Certificates designated as "Class
II-A-1-L" on the face thereof in substantially the form attached hereto as
Exhibit II-A-1-L.
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
II-A-2.
CLASS II-A-2 NOTIONAL AMOUNT: For any Distribution Date, the aggregate
Class Principal Balance of the Class II-A-5, Class II-A-6, Class II-A-8,
Class II-A-9 and Class II-A-10 Certificates immediately prior to such
Distribution Date divided by 34.75.
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
II-A-3.
CLASS II-A-3-L CERTIFICATES: The Certificates designated as "Class
II-A-3-L" on the face thereof in substantially the form attached hereto as
Exhibit II-A-3-L.
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
II-A-4.
CLASS II-A-4-L CERTIFICATES: The Certificates designated as "Class
II-A-4-L" on the face thereof in substantially the form attached hereto as
Exhibit II-A-4-L.
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
II-A-5.
CLASS II-A-5-L CERTIFICATES: The Certificates designated as "Class
II-A-5-L" on the face thereof in substantially the form attached hereto as
Exhibit II-A-5-L.
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
II-A-6.
CLASS II-A-6-L CERTIFICATES: The Certificates designated as "Class
II-A-6-L" on the face thereof in substantially the form attached hereto as
Exhibit II-A-6-L.
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 II-A-7.
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<PAGE>
CLASS II-A-7 ACCRETION TERMINATION DATE: The earlier to occur of (i)
the Distribution Date on which the Component II-A-1-2 Principal Balance has
been reduced to zero and (ii) the Group II Credit Support Depletion Date.
CLASS II-A-7 ACCRUAL AMOUNT: On any Distribution Date, an amount equal
to the amount allocable to the Class II-A-7-L Certificates on such
Distribution Date pursuant to the definition of "Interest Distribution
Amount", 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-7 Accretion Termination Date, the Class II-A-7 Accrual
Amount shall be zero.
CLASS II-A-7-L CERTIFICATES: The Certificates designated as "Class
II-A-7-L" on the face thereof in substantially the form attached hereto as
Exhibit II-A-7-L.
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
II-A-9.
CLASS II-A-9-L CERTIFICATES: The Certificates designated as "Class
II-A-9-L" on the face thereof in substantially the form attached hereto as
Exhibit II-A-9-L.
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 II-A-10.
CLASS II-A-10-L CERTIFICATES: The Certificates designated as "Class
II-A-10-L" on the face thereof in substantially the form attached hereto as
Exhibit II-A-10-L.
CLASS II-A-11 CERTIFICATES: The Certificates designated as "Class
II-A-11" on the face thereof in substantially the form attached hereto as
Exhibit II-A-11.
CLASS II-A-11 NOTIONAL AMOUNT: For any Distribution Date, the aggregate
Class Principal Balance of the Class II-A-6, Class II-A-8, Class II-A-9 and
Class II-A-10 Certificates immediately prior to such Distribution Date
divided by 27.
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
II-A-B-1.
CLASS II-B-1-L CERTIFICATES: The Certificates designated as "Class
II-B-1-L" on the face thereof in substantially the form attached hereto as
Exhibit II-A-B-1-L.
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
II-B-2.
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<PAGE>
CLASS II-B-2-L CERTIFICATES: The Certificates designated as "Class
II-B-2-L" on the face thereof in substantially the form attached hereto as
Exhibit II-B-2-L.
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 II-B-3.
CLASS II-B-3-L CERTIFICATES: The Certificates designated as "Class
II-B-3-L" on the face thereof in substantially the form attached hereto as
Exhibit II-B-3-L.
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 II-B-4.
CLASS II-B-4-L CERTIFICATES: The Certificates designated as "Class
II-B-4-L" on the face thereof in substantially the form attached hereto as
Exhibit II-B-4-L.
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 II-B-5.
CLASS II-B-5-L CERTIFICATES: The Certificates designated as "Class
II-B-5-L" on the face thereof in substantially the form attached hereto as
Exhibit II-B-5-L.
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 II-B-6.
CLASS II-B-6-L CERTIFICATES: The Certificates designated as "Class
II-B-6-L" on the face thereof in substantially the form attached hereto as
Exhibit II-B-6-L.
CLASS II-X CERTIFICATES: The Certificates designated as "Class II-X" on
the face thereof in substantially the form attached hereto as Exhibit II-X.
CLASS II-X-L CERTIFICATES: The Certificates designated as "Class II-X-L"
on the face thereof in substantially the form attached hereto as Exhibit II-X-L.
CLASS II-X NOTIONAL AMOUNT: 46.00% of the Group II WAC IO Notional
Amount.
CLASS III-A-1 CERTIFICATES: The Certificates designated as "Class
III-A-1" on the face thereof in substantially the form attached hereto as
Exhibit III-A-1.
CLASS III-A-1-L CERTIFICATES: The Certificates designated as "Class
III-A-1-L" on the face thereof in substantially the form attached hereto as
Exhibit III-A-1-L.
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 III-B-1.
CLASS III-B-1-L CERTIFICATES: The Certificates designated as "Class
III-B-1-L" on the face thereof in substantially the form attached hereto as
Exhibit III-B-1-L.
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<PAGE>
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 III-B-2.
CLASS III-B-2-L CERTIFICATES: The Certificates designated as "Class
III-B-2-L" on the face thereof in substantially the form attached hereto as
Exhibit III-B-2-L.
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 III-B-3.
CLASS III-B-3-L CERTIFICATES: The Certificates designated as "Class
III-B-3-L" on the face thereof in substantially the form attached hereto as
Exhibit III-B-3-L.
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 III-B-4.
CLASS III-B-4-L CERTIFICATES: The Certificates designated as "Class
III-B-4-L" on the face thereof in substantially the form attached hereto as
Exhibit III-B-4-L.
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 III-B-5.
CLASS III-B-5-L CERTIFICATES: The Certificates designated as "Class
III-B-5-L" on the face thereof in substantially the form attached hereto as
Exhibit III-B-5-L.
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 III-B-6.
CLASS III-B-6-L CERTIFICATES: The Certificates designated as "Class
III-B-6-L" on the face thereof in substantially the form attached hereto as
Exhibit III-B-6-L.
CLASS III-P CERTIFICATES: The Certificates designated as "Class III-P"
on the face thereof in substantially the form attached hereto as Exhibit III-P.
CLASS III-P FRACTION: For each Class III-P Mortgage Loan, a fraction,
the numerator of which is 7.000% less the Pass-Through Rate on such Class III-P
Mortgage Loan and the denominator of which is 7.000%.
CLASS III-P MORTGAGE LOAN: Any Group III Loan with a Pass-Through Rate
of less than 7.000% per annum.
CLASS III-P-L CERTIFICATES: The Certificates designated as "Class III-P-L"
on the face thereof in substantially the form attached hereto as
Exhibit III-P-L.
CLASS III-X CERTIFICATES: The Certificates designated as "Class III-X"
on the face thereof in substantially the form attached hereto as Exhibit III-X.
CLASS III-X-L CERTIFICATES: The Certificates designated as "Class
III-X-L" on the face thereof in substantially the form attached hereto as
Exhibit III-X-L.
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<PAGE>
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 7.000%.
CLASS IV-A-1 CERTIFICATES: The Certificates designated as "Class IV-A-1"
on the face thereof in substantially the form attached hereto as Exhibit IV-A-1.
CLASS IV-A-1-L CERTIFICATES: The Certificates designated as "Class
IV-A-1-L" on the face thereof in substantially the form attached hereto as
Exhibit IV-A-1-L.
CLASS IV-B-1 CERTIFICATES: The Certificates designated as "Class IV-B-1"
on the face thereof in substantially the form attached hereto as Exhibit IV-B-1.
CLASS IV-B-1-L CERTIFICATES: The Certificates designated as "Class
IV-B-1-L" on the face thereof in substantially the form attached hereto as
Exhibit IV-B-1-L.
CLASS IV-B-2 CERTIFICATES: The Certificates designated as "Class IV-B-2"
on the face thereof in substantially the form attached hereto as Exhibit IV-B-2.
CLASS IV-B-2-L CERTIFICATES: The Certificates designated as "Class
IV-B-2-L" on the face thereof in substantially the form attached hereto as
Exhibit IV-B-2-L.
CLASS IV-B-3 CERTIFICATES: The Certificates designated as "Class IV-B-3"
on the face thereof in substantially the form attached hereto as Exhibit IV-B-3.
CLASS IV-B-3-L CERTIFICATES: The Certificates designated as "Class
IV-B-3-L" on the face thereof in substantially the form attached hereto as
Exhibit IV-B-3-L.
CLASS IV-B-4 CERTIFICATES: The Certificates designated as "Class IV-B-4"
on the face thereof in substantially the form attached hereto as Exhibit IV-B-4.
CLASS IV-B-4-L CERTIFICATES: The Certificates designated as "Class
IV-B-4-L" on the face thereof in substantially the form attached hereto as
Exhibit IV-B-4-L.
CLASS IV-B-5 CERTIFICATES: The Certificates designated as "Class IV-B-5"
on the face thereof in substantially the form attached hereto as Exhibit IV-B-5.
CLASS IV-B-5-L CERTIFICATES: The Certificates designated as "Class
IV-B-5-L" on the face thereof in substantially the form attached hereto as
Exhibit IV-B-5-L.
CLASS IV-B-6 CERTIFICATES: The Certificates designated as "Class IV-B-6"
on the face thereof in substantially the form attached hereto as Exhibit IV-B-6.
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<PAGE>
CLASS IV-B-6-L CERTIFICATES: The Certificates designated as "Class
IV-B-6-L" on the face thereof in substantially the form attached hereto as
Exhibit IV-B-6-L.
CLASS IV-P CERTIFICATES: The Certificates designated as "Class IV-P" on
the face thereof in substantially the form attached hereto as Exhibit IV-P.
CLASS IV-P-L CERTIFICATES: The Certificates designated as "Class IV-P-L"
on the face thereof in substantially the form attached hereto as Exhibit IV-P-L.
CLASS IV-P FRACTION: For each Class IV-P Mortgage Loan, a fraction, the
numerator of which is 6.750% less the Pass-Through Rate on such Class IV-P
Mortgage Loan and the denominator of which is 6.750%.
CLASS IV-P MORTGAGE LOAN: Any Group IV Loan with a Pass-Through Rate of
less than 6.750% per annum.
CLASS IV-X CERTIFICATES: The Certificates designated as "Class IV-X" on
the face thereof in substantially the form attached hereto as Exhibit IV-X.
CLASS IV-X-L CERTIFICATES: The Certificates designated as "Class IV-X-L"
on the face thereof in substantially the form attached hereto as Exhibit IV-X-L.
CLASS IV-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 IV Premium Rate
Mortgage Loans and (y) a fraction, the numerator of which is the weighted
average of the Stripped Interest Rates for the Group IV Premium Rate Mortgage
Loans as of such Due Date and the denominator of which is 6.750%.
CLASS V-A-1 CERTIFICATES: The Certificates designated as "Class V-A-1"
on the face thereof in substantially the form attached hereto as Exhibit V-A-1.
CLASS V-A-1-L CERTIFICATES: The Certificates designated as "Class
V-A-1-L" on the face thereof in substantially the form attached hereto as
Exhibit V-A-1-L.
CLASS V-A-2 CERTIFICATES: The Certificates designated as "Class V-A-2"
on the face thereof in substantially the form attached hereto as Exhibit V-A-2.
CLASS V-A-2-L CERTIFICATES: The Certificates designated as "Class
V-A-2-L" on the face thereof in substantially the form attached hereto as
Exhibit V-A-2-L.
CLASS V-A-3 CERTIFICATES: The Certificates designated as "Class V-A-3"
on the face thereof in substantially the form attached hereto as Exhibit V-A-3.
CLASS V-A-3-L CERTIFICATES: The Certificates designated as "Class
V-A-3-L" on the face thereof in substantially the form attached hereto as
Exhibit V-A-3-L.
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<PAGE>
CLASS V-A-4 CERTIFICATES: The Certificates designated as "Class V-A-4"
on the face thereof in substantially the form attached hereto as Exhibit V-A-4.
CLASS V-A-4-L CERTIFICATES: The Certificates designated as "Class
V-A-4-L" on the face thereof in substantially the form attached hereto as
Exhibit V-A-4-L.
CLASS V-A-4 LIQUIDATION AMOUNT: The aggregate, for each Group V Loan
which became a Liquidated Mortgage Loan during the Prior Period, of the
lesser of (i) the Class V-A-4 Percentage of the principal balance of such
Mortgage Loan and (ii) the Class V-A-4 Percentage on any Distribution Date
occurring prior to the fifth anniversary of the first Distribution Date, and
the Class V-A-4 Prepayment Percentage on any Distribution Date thereafter, in
each case, of the Liquidation Principal with respect to such Mortgage Loan.
CLASS V-A-4 LOCKOUT PRINCIPAL DISTRIBUTION AMOUNT: For any Distribution
Date, the sum of (i) the Class V-A-4 Percentage of the Principal Payment
Amount for Loan Group V, (ii) the Class V-A-4 Prepayment Amount and (iii)
the Class V-A-4 Liquidation Amount.
CLASS V-A-4 PERCENTAGE: For any Distribution Date, the Class V-A-4
Principal Balance divided by the aggregate Class Principal Balance of the
Group V Certificates, in each case immediately prior to the Distribution Date.
CLASS V-A-4 PREPAYMENT AMOUNT: For any Distribution Date, the sum of
(i) the Class V-A-4 Prepayment Percentage of the Principal Prepayment Amount
for Loan Group V for such date and (ii) the product of (x) the Class V-A-4
Pro Rata Factor and (y) the excess of (a) the sum of the Group V Subordinate
Percentage and the Class V-A-9 Percentage for such date multiplied by the
Principal Prepayment Amount for Loan Group V for such date over (b) the sum
of the Subordinate Prepayment Percentage and the Class V-A-9 Prepayment
Percentage of the Principal Prepayment Amount for Loan Group V for such date.
CLASS V-A-4 PREPAYMENT PERCENTAGE: For any Distribution Date, the
product of (a) the Class V-A-4 Percentage and (b) the Step Down Percentage.
CLASS V-A-4 PRO RATA FACTOR: For any Distribution Date, the product of
(a) the Step Down Percentage and (b) the Class V-A-4-L Principal Balance
divided by the aggregate Class Principal Balance of the Group V-A-L
Certificates (less the Class V-A-9-L Principal Balance), in each case
immediately prior to such Distribution Date.
CLASS V-A-5 CERTIFICATES: The Certificates designated as "Class V-A-5"
on the face thereof in substantially the form attached hereto as Exhibit V-A-5.
CLASS V-A-5 NOTIONAL AMOUNT: For any Distribution Date, the aggregate
Class Principal Balance of the Class V-A-1, Class V-A-2 and Class V-A-3
Certificates immediately prior to such Distribution Date.
CLASS V-A-6 CERTIFICATES: The Certificates designated as "Class V-A-6"
on the face thereof in substantially the form attached hereto as Exhibit V-A-6.
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<PAGE>
CLASS V-A-6 NOTIONAL AMOUNT: For any Distribution Date, the aggregate
Class Principal Balance of the Class V-A-4 and Class V-A-9 Certificates
immediately prior to such Distribution Date.
CLASS V-A-7 CERTIFICATES: The Certificates designated as "Class V-A-7"
on the face thereof in substantially the form attached hereto as Exhibit V-A-7.
CLASS V-A-7-L CERTIFICATES: The Certificates designated as "Class
V-A-7-L" on the face thereof in substantially the form attached hereto as
Exhibit V-A-7-L.
CLASS V-A-7 ACCRETION TERMINATION DATE: The earlier to occur of (i) the
Distribution Date on which the Class V-A-2 Principal Balance has been reduced
to zero and (ii) the Group V Credit Support Depletion Date.
CLASS V-A-7 ACCRUAL AMOUNT: On any Distribution Date, an amount equal
to the amount allocable to the Class V-A-7-L Certificates on such
Distribution Date pursuant to the definition of "Interest Distribution
Amount", 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 V-A-7 Accretion Termination Date, the Class V-A-7 Accrual
Amount shall be zero.
CLASS V-A-8 CERTIFICATES: The Certificates designated as "Class V-A-8"
on the face thereof in substantially the form attached hereto as Exhibit V-A-8.
CLASS V-A-8 NOTIONAL AMOUNT: For any Distribution Date, the Class V-A-3
Principal Balance immediately prior to such Distribution Date.
CLASS V-A-9 CERTIFICATES: The Certificates designated as "Class V-A-9"
on the face thereof in substantially the form attached hereto as Exhibit V-A-9.
CLASS V-A-9 LIQUIDATION AMOUNT: The aggregate, for each Group V Loan
which became a Liquidated Mortgage Loan during the calendar month preceding
the month of the Distribution Date, of the lesser of (i) the Class V-A-9
Percentage of the principal balance of such Mortgage Loan and (ii) the Class
V-A-9 Percentage on any Distribution Date occurring prior to the fifth
anniversary of the first Distribution Date, and the Class V-A-9 Prepayment
Percentage on any Distribution Date thereafter, in each case, of the
Liquidation Principal with respect to such Mortgage Loan.
CLASS V-A-9 PERCENTAGE: For any Distribution Date, the Class V-A-9-L
Principal Balance divided by the aggregate Class Principal Balance of the
Group V-L Certificates, in each case immediately prior to such Distribution
Date.
CLASS V-A-9 PREPAYMENT PERCENTAGE: For any Distribution Date, the
product of the Class V-A-9 Percentage and the Step Down Percentage.
CLASS V-A-9 LOCKOUT PRINCIPAL DISTRIBUTION AMOUNT: For any Distribution
Date, the sum of (i) the Class V-A-9 Percentage of the Principal Payment
Amount for Loan Group V, (ii) the
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<PAGE>
Class V-A-9 Prepayment Percentage of the Principal Prepayment Amount for Loan
Group V and (iii) the Class V-A-9 Liquidation Amount.
CLASS V-A-9-L CERTIFICATES: The Certificates designated as "Class
V-A-9-L" on the face thereof in substantially the form attached hereto as
Exhibit V-A-9-L.
CLASS V-B-1 CERTIFICATES: The Certificates designated as "Class V-B-1"
on the face thereof in substantially the form attached hereto as Exhibit V-B-1.
CLASS V-B-1-L CERTIFICATES: The Certificates designated as "Class
V-B-1-L" on the face thereof in substantially the form attached hereto as
Exhibit V-B-1-L.
CLASS V-B-2 CERTIFICATES: The Certificates designated as "Class V-B-2"
on the face thereof in substantially the form attached hereto as Exhibit V-B-2.
CLASS V-B-2-L CERTIFICATES: The Certificates designated as "Class
V-B-2-L" on the face thereof in substantially the form attached hereto as
Exhibit V-B-2-L.
CLASS V-B-3 CERTIFICATES: The Certificates designated as "Class V-B-3"
on the face thereof in substantially the form attached hereto as Exhibit V-B-3.
CLASS V-B-3-L CERTIFICATES: The Certificates designated as "Class
V-B-3-L" on the face thereof in substantially the form attached hereto as
Exhibit V-B-3-L.
CLASS V-B-4 CERTIFICATES: The Certificates designated as "Class V-B-4"
on the face thereof in substantially the form attached hereto as Exhibit V-B-4.
CLASS V-B-4-L CERTIFICATES: The Certificates designated as "Class
V-B-4-L" on the face thereof in substantially the form attached hereto as
Exhibit V-B-4-L.
CLASS V-B-5 CERTIFICATES: The Certificates designated as "Class V-B-5"
on the face thereof in substantially the form attached hereto as Exhibit V-B-5.
CLASS V-B-5-L CERTIFICATES: The Certificates designated as "Class
V-B-5-L" on the face thereof in substantially the form attached hereto as
Exhibit V-B-5-L.
CLASS V-B-6 CERTIFICATES: The Certificates designated as "Class V-B-6"
on the face thereof in substantially the form attached hereto as Exhibit V-B-6.
CLASS V-B-6-L CERTIFICATES: The Certificates designated as "Class
V-B-6-L" on the face thereof in substantially the form attached hereto as
Exhibit V-B-6-L.
CLASS V-B-IO CERTIFICATES: The Certificates designated as "Class V-B-IO"
on the face thereof in substantially the form attached hereto as Exhibit V-B-IO.
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<PAGE>
CLASS V-B-IO NOTIONAL AMOUNT: For any Distribution Date, the aggregate
Class Principal Balance of the Class V-B-1, Class V-B-2 and Class V-B-3
Certificates immediately prior to such Distribution Date.
CLASS V-1 CERTIFICATES: The Certificates designated as "Class V-1" on
the face thereof in substantially the form attached hereto as Exhibit V-1.
CLASS V-2 CERTIFICATES: The Certificates designated as "Class V-2" on
the face thereof in substantially the form attached hereto as Exhibit V-2.
CLASS V-3 CERTIFICATES: The Certificates designated as "Class V-3" on
the face thereof in substantially the form attached hereto as Exhibit V-3.
CLASS V-4 CERTIFICATES: The Certificates designated as "Class V-4" on
the face thereof in substantially the form attached hereto as Exhibit V-4.
CLASS V PRINCIPAL REDUCTION AMOUNTS: For any Distribution Date, the
amounts by which the principal balances of the Class V-1, Class V-2, Class
V-3 and Class V-4 Certificates respectively will be reduced on such
Distribution Date by the allocation of Realized Losses and the distribution
of principal, determined as follows:
For purposes of the succeeding formulas the following symbols shall have
the meanings set forth below:
Y(1) = the principal balance of the Class V-1 Certificates after
distributions on the prior Distribution Date.
Y(2) = the principal balance of the Class V-2 Certificates after
distributions on the prior Distribution Date.
Y(3) = the principal balance of the Class V-3 Certificates after
distributions on the prior Distribution Date.
Y(4) = the principal balance of the Class V-4 Certificates
after distributions on the prior Distribution Date
(note: Y(2) = Y(4)).
Delta Y(1) = the Class V-1 Principal Reduction Amount.
Delta Y(2) = the Class V-2 Principal Reduction Amount.
Delta Y(3) = the Class V-3 Principal Reduction Amount.
Delta Y(4) = the Class V-4 Principal Reduction Amount.
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<PAGE>
P(0) = the aggregate principal balance of the Class V-1,
Class V-2, Class V-3, and Class V-4 Certificates after
distributions and the allocation of Realized Losses on the
prior Distribution Date.
P(1) = the aggregate principal balance of the Class V-1,
Class V-2, Class V-3 and Class V-4 Certificates after
distributions and the allocation of Realized Losses to be
made on such Distribution Date.
Delta P = P(0) - P(1) = the aggregate of the Class V-1, Class V-2,
Class V-3 and Class V-4 Principal Reduction Amounts.
= the aggregate of the principal portions of Realized
Losses to be allocated, and the principal distributions
to be made, on such Distribution Date in respect of the
Group V Loans net of such amounts to be allocated or
paid to the Class R-2 Certificates.
R(0) = the Class Principal Balance of the Class V-A-7
Certificates after giving effect to amounts distributed
and Realized Losses allocated on the Prior Distribution
Date.
R(1) = the Class Principal Balance of the Class V-A-7
Certificates after giving effect to amounts to be
distributed and Realized Losses to be allocated on such
Distribution Date.
Alpha = (Y(2) + Y(3))/P(0). The initial value of Alpha for Loan
Group V on the Closing Date for use on the first
Distribution Date shall be .001.
Gamma (0) = the sum of the Class Principal Balances of the Class
V-A-1, Class V-A-2 and Class V-A-3 Certificates after
giving effect to distributions of principal and
allocations of Realized Losses on the prior Distribution
Date.
Gamma (1) = the sum of the Class Principal Balances of the Class
V-A-1, Class V-A-2 and Class V-A-3 Certificates after
giving effect to distributions of principal and
allocations of Realized Losses to be made on such
Distribution Date
r = .053015% per annum.
x = 2% per annum.
Then, based on the foregoing definitions:
Delta Y(1) = Delta P - Delta Y(2) - Delta Y(3) - Delta Y(4);
Delta Y(2) = (Alpha r/x){(Gamma (0) P(0) R(1) - Gamma (1) P(1)
R(0))/R(0)R(1)};
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Delta Y(3) = Alpha Delta P - Delta Y(2); and
Delta Y(4) = Delta Y(2).
CLASS V-1 PRINCIPAL DISTRIBUTION AMOUNT: For any Distribution Date, the
excess, if any, of the Class V-1 Principal Reduction Amount for such
Distribution Date over the Principal Realized Losses allocated to the Class V-1
Certificates on such Distribution Date.
CLASS V-2 PRINCIPAL DISTRIBUTION AMOUNT: For any Distribution Date, the
excess, if any, of the Class V-2 Principal Reduction Amount for such
Distribution Date over the Principal Realized Losses allocated to the Class V-2
Certificates on such Distribution Date.
CLASS V-3 PRINCIPAL DISTRIBUTION AMOUNT: For any Distribution Date, the
excess, if any, of the Class V-3 Principal Reduction Amount for such
Distribution Date over the Principal Realized Losses allocated to the Class V-3
Certificates on such Distribution Date.
CLASS V-4 PRINCIPAL DISTRIBUTION AMOUNT: For any Distribution Date, the
excess, if any, of the Class V-4 Principal Reduction Amount for such
Distribution Date over the Principal Realized Losses allocated to the Class V-4
Certificates on such Distribution Date.
CLASS NOTIONAL AMOUNT: With respect to any of the Class II-A-2, Class
II-A-11, Class V-A-5, Class V-A-6, Class V-A-8, Class V-B-IO, Class X and
Class X-L Certificates, the related notional amount for any such Class, as
specified herein (i.e. the "Class Notional Amount" for the Class I-X and
Class I-X-L Certificates is the Class I-X Notional Amount).
CLASS PRINCIPAL BALANCE: For any Class of Certificates, other than the
Class II-A-1 and Class II-A-1-L 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, the Mortgage Trust Certificates or the Group V Trust Certificates, as
applicable, as reduced from time to time by (x) distributions of principal to
Certificateholders of such Class (including, with respect to the Accretion
Directed Classes, the portions of the Component II-A-1-2 Accrual Amount, the
Class II-A-7 Accrual Amount and the Class V-A-7 Accrual Amount distributed to
such Classes 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 "Mortgage Trust Certificate
Distribution Amount" and "Group V Trust Certificate Distribution Amount". In
addition to the foregoing, on each Distribution Date (i) on or before the
Class II-A-7 Accretion Termination Date, the Class II-A-7-L and Class II-A-7
Principal Balance will be increased by the Class II-A-7 Accrual Amount for
such Distribution Date and (ii) on or before the Class V-A-7 Accretion
Termination Date, the Class V-A-7-L and Class V-A-7 Principal Balance will be
increased by the Class V-A-7 Accrual Amount for such Distribution Date.
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Notwithstanding the foregoing, any amounts distributed in respect of losses
pursuant to paragraphs (I)(a)(vi), (I)(b)(vi), (I)(c)(vi) or (I)(d)(vi) of
the definition of "Mortgage Trust Certificate Distribution Amount" shall not
cause a further reduction in the Class I-P-L, Component II-A-1-4-L of the
Class II-A-1-L Certificates, Class III-P-L or the Class IV-P-L Principal
Balance or the principal balance of the Corresponding Class. The Class
Principal Balance for the Class I-A-1-L Certificates shall be referred to as
the "Class I-A-1-L Principal Balance," the Class Principal Balance for the
Class I-A-2-L Certificates shall be referred to as the "Class I-A-2-L
Principal Balance" and so on. The Class II-A-1-L Principal Balance and the
Class II-A-1 Principal Balance shall equal the sum of the Component
II-A-1-1-L Principal Balance, Component II-A-1-2-L Principal Balance,
Component II-A-1-4-L Principal Balance, Component II-A-1-5-L Principal
Balance and the Component II-A-1-6-L Principal Balance. The Class Principal
Balance for the Class X, Class X-L, Class II-A-2, Class II-A-11, Class V-A-5,
Class V-A-6, Class V-A-8 and Class V-B-IO Certificates 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-3, which
have been designated as the single class of "residual interest" in the
Certificate Trust Fund pursuant to Section 2.05.
CLASS R-L CERTIFICATES: The Certificates designated as "Class R-L" on
the face thereof in substantially the form attached hereto as Exhibit B-4.
CLASS R-1 CERTIFICATES: The Certificates designated as "Class R-1" on
the face thereof in substantially the form attached hereto as Exhibit B-2,
which have been designated as the single class of "residual interest" in the
Mortgage Trust Fund pursuant to Section 2.01.
CLASS R-2 CERTIFICATES: The Certificates designated as "Class R-2" on
the face thereof in substantially the form attached hereto as Exhibit B-1,
which have been designated as the single class of "residual interest" in the
Group V Trust Fund pursuant to Section 2.09.
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: January 30, 1998, which is the date of settlement of the
sale of the Certificates to the original purchasers thereof.
CODE: The Internal Revenue Code of 1986, as amended.
COMPANY: PNC Mortgage Securities Corp., a Delaware corporation, or its
successor-in-interest.
COMPENSATING INTEREST: For any Distribution Date with respect to 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
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IndyMac on such Distribution Date and (ii) the sum of (a) the aggregate
Uncollected Interest and (b) the aggregate Curtailment Shortfall.
COMPONENT: A portion of the Class II-A-1 or Class II-A-1-L 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-1-1: A portion of the Class II-A-1 Certificates
representing part of the entitlement of such Class to principal as described
in the Preliminary Statement hereto and the remainder of the Agreement.
COMPONENT II-A-1-1-L: A portion of the Class II-A-1-L Certificates
representing part of the entitlement of such Class to principal as described
in the Preliminary Statement hereto and the remainder of the Agreement.
COMPONENT II-A-1-2: A portion of the Class II-A-1 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-1-2-L: A portion of the Class II-A-1-L 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-1-2 ACCRETION TERMINATION DATE: The earlier to occur of
(i) the Distribution Date on which the aggregate Class Principal Balance of
the Class II-A-3-L and Class II-A-4-L Certificates have been reduced to zero
and (ii) the Group II Credit Support Depletion Date.
COMPONENT II-A-1-2 ACCRUAL AMOUNT: On any Distribution Date, an amount
equal to the amount allocable to Component II-A-1-2-L on such Distribution
Date pursuant to the definition of "Interest Distribution Amount", without
regard to the proviso at the end of the first sentence of such definition.
Notwithstanding the foregoing, for any Distribution Date after the Component
II-A-1-2 Accretion Termination Date, the Component II-A-1-2 Accrual Amount
shall be zero.
COMPONENT II-A-1-3: A portion of the Class II-A-1 Certificates
representing part of the entitlement of such Class to principal as described
in the Preliminary Statement hereto and the remainder of the Agreement.
COMPONENT II-A-1-3 NOTIONAL AMOUNT: For any Distribution Date, the
aggregate Class Principal Balance of the Class II-A-5, Class II-A-6, Class
II-A-8, Class II-A-9 and Class II-A-10 Certificates immediately prior to such
Distribution Date divided by 35.75.
COMPONENT II-A-1-4: A portion of the Class II-A-1 Certificates
representing part of the entitlement of such Class to principal as described
in the Preliminary Statement hereto and the remainder of the Agreement.
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<PAGE>
COMPONENT II-A-1-4-L: A portion of the Class II-A-1-L Certificates
representing part of the entitlement of such Class to principal as described
in the Preliminary Statement hereto and the remainder of the Agreement.
COMPONENT II-A-1-5: A portion of the Class II-A-1 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-1-5-L: A portion of the Class II-A-1-L 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-1-6: A portion of the Class II-A-1 Certificates
representing part of the entitlement of such Class to interest as described
in the Preliminary Statement hereto and the remainder of the Agreement.
COMPONENT II-A-1-6-L: A portion of the Class II-A-1-L Certificates
representing part of the entitlement of such Class to interest as described
in the Preliminary Statement hereto and the remainder of the Agreement.
COMPONENT II-A-1-6 NOTIONAL AMOUNT: With respect to any Distribution
Date, 54.00% of the Group II WAC IO Notional Amount.
COMPONENT NOTIONAL AMOUNT: With respect to Component II-A-1-3, the
Component II-A-1-3 Notional Amount, and with respect to Component II-A-1-6
and Component II-A-1-6-L, the Component II-A-1-6 Notional Amount.
COMPONENT PRINCIPAL BALANCE: For any Component of the Class II-A-1 and
Class II-A-1-L Certificates, the applicable Initial Component Principal
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 or
Mortgage Trust Certificates, as applicable, as reduced from time to time by
(x) distributions of principal to the Class II-A-1 or Class II-A-1-L
Certificates, as applicable, in respect of such Component (including, with
respect to Component II-A-1-2-L, the portion of the Class II-A-7 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 on
or before the Component II-A-1-2 Accretion Termination Date, the Component
II-A-1-2 Principal Balance and Component II-A-1-2-L Principal Balance will be
increased by the Component II-A-1-2 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 "Mortgage Trust Certificate
Distribution Amount" or "Certificate Trust Certificate Distribution Amount."
The Component Principal Balance for Component II-A-1-1 of the Class II-A-1
Certificates shall be referred to as the "Component II-A-1-1 Principal
Balance," the Component
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<PAGE>
Principal Balance for Component II-A-1-2 of the Class II-A-1 Certificates
shall be referred to as the "Component II-A-1-2 Principal Balance" and so on.
The Component II-A-1-3 Principal Balance, the Component II-A-1-6 Principal
Balance and the Component II-A-1-6-L Principal Balance shall be zero.
COOPERATIVE: A private, cooperative housing corporation organized under
the laws of, and headquartered in, the States of New York, California or
Hawaii which owns or leases land and all or part of a building or buildings
located in such states, 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 or mortgage 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 or Section 2.09 and are from time to time held as
part of the trust funds created hereunder.
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
1998-1.
CORRESPONDING CLASS: With respect to the Group I and Group I-L
Certificates, the "Corresponding Class" for the Class R-L, Class I-A-1-L,
Class I-A-2-L, Class I-A-3-L, Class I-B-1-L, Class I-B-2-L, Class I-B-3-L,
Class I-B-4-L, Class I-B-5-L, Class I-B-6-L, Class I-P-L and Class I-X-L
Certificates shall be the Class R, Class I-A-1, Class I-A-2, Class I-A-3,
Class I-B-1, Class I-B-2, Class I-B-3, Class I-B-4, Class I-B-5, Class I-B-6,
Class I-P and Class I-X Certificates, respectively, and vice-versa.
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With respect to the Group II and Group II-L Certificates, the
"Corresponding Class" for the Class II-A-1-L, Class II-A-3-L, Class II-A-4-L,
Class II-A-5-L, Class II-A-6-L, Class II-A-7-L, Class II-A-8-L, Class
II-A-9-L, Class II-A-10-L, Class II-B-1-L, Class II-B-2-L, Class II-B-3-L,
Class II-B-4-L, Class II-B-5-L, Class II-B-6-L and Class II-X-L Certificates
shall be the Class II-A-1, 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, Class
II-B-1, Class II-B-2, Class II-B-3, Class II-B-4, Class II-B-5, Class II-B-6
and Class II-X Certificates, respectively, and vice-versa.
With respect to the Group III and Group III-L Certificates, the
"Corresponding Class" for the Class III-A-1-L, Class III-B-1-L, Class
III-B-2-L, Class III-B-3-L, Class III-B-4-L, Class III-B-5-L, Class
III-B-6-L, Class III-P-L and Class III-X-L Certificates shall be the Class
III-A-1, Class III-B-1, Class III-B-2, Class III-B-3, Class III-B-4, Class
III-B-5, Class III-B-6, Class III-P and Class III-X Certificates,
respectively, and vice-versa.
With respect to the Group IV and Group IV-L Certificates, the
"Corresponding Class" for the Class IV-A-1-L, Class IV-B-1-L, Class IV-B-2-L,
Class IV-B-3-L, Class IV-B-4-L, Class IV-B-5-L, Class IV-B-6-L, Class IV-X-L
and Class IV-P-L Certificates shall be the Class IV-A-1, Class IV-B-1, Class
IV-B-2, Class IV-B-3, Class IV-B-4, Class IV-B-5, Class IV-B-6, Class IV-X
and Class IV-P Certificates, respectively, and vice-versa.
With respect to the Group V and Group V-L Certificates, the
"Corresponding Class" for the Class V-A-1-L, Class V-A-2-L, Class V-A-3-L,
Class V-A-4-L, Class V-A-7-L, Class V-A-9-L, Class V-B-1-L, Class V-B-2-L,
Class V-B-3-L, Class V-B-4-L, Class V-B-5-L and Class V-B-6-L Certificates
shall be the Class V-A-1, Class V-A-2, Class V-A-3, Class V-A-4, Class V-A-7,
Class V-A-9, Class V-B-1, Class V-B-2, Class V-B-3, Class V-B-4, Class V-B-5
and Class V-B-6 Certificates, respectively, and vice-versa.
CORRESPONDING COMPONENT: With respect to each of Component II-A-1-1-L,
Component II-A-1-2-L, Component II-A-1-4-L, Component II-A-1-5-L and
Component II-A-1-6-L, the following shall be the "Corresponding Component",
respectively: Component II-A-1-1, Component II-A-1-2, Component II-A-1-4,
Component II-A-1-5 and Component II-A-1-6, and vice-versa.
COVERED LOAN : Any of the Group V Loans identified on schedule I
attached hereto which are designated as being a "Covered Loan".
COVERED LOSS : Realized Losses on the Covered Loans following the Group
V Credit Support Depletion Date or Special Hazard Losses, Fraud Losses and
Bankruptcy Losses in excess of the Group V Special Hazard Coverage, Group V
Fraud Coverage and Group V Bankruptcy Coverage, respectively.
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.
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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 Agencies) 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 Agencies) 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
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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.
CUT-OFF DATE: January 1, 1998.
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 January 28,
1998 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 Group V Trust
Certificates, the Certificate Trust Certificates, the Mortgage Trust
Certificates or the Residual 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 February 25, 1998.
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
Agencies, (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
Agencies, (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 Agencies, or (iv) the approval of the Rating
Agencies. 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
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Account, the Custodial Account for P&I and the Custodial Account for Reserves
may be invested:
(i) Obligations of, or guaranteed as to principal and
interest by, the United States or any agency or instrumentality thereof
when such obligations are backed by the full faith and credit of the
United States;
(ii) Repurchase agreements 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 Agencies and provided that such repurchaser's unsecured long term
debt has one of the two highest unsecured long term debt ratings of the
Rating Agencies;
(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 Agencies
and unsecured long term debt has one of the two highest unsecured long
term debt ratings of the Rating Agencies;
(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
Agencies;
(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
Agencies, provided that the corporation has unsecured long term debt
that has one of the two highest unsecured long term debt ratings of the
Rating Agencies;
(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 Agencies; 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 Agencies or which have been designated in writing by the Rating
Agencies as Eligible Investments; and
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(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 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 the Class R-2 Certificates
on 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
Group V Loan which became a Liquidated Mortgage Loan during such month and
with respect to the Class R-1 Certificates on 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 (other than a Group
V Loan) which became a Liquidated Mortgage Loan during such month.
FDIC: Federal Deposit Insurance Corporation, or any successor thereto.
FHA: Federal Housing Administration, or any successor thereto.
FHLB: Federal Home Loan Bank of San Francisco, or any successor thereto.
FHLMC: Federal Home Loan Mortgage Corporation, or any successor thereto.
FNMA: Federal National Mortgage Association, or any successor thereto.
FRAUD COVERAGE: 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 for a Loan Group shall be reduced to the lesser of (i)
(a) with respect to Loan Group I, Loan Group II, Loan Group III and Loan
Group V, on the first, second, third, and fourth anniversaries of the Cut-Off
Date, 1.0% of the aggregate principal balance of the Mortgage Loans in the
related Loan Group as of the Due
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Date in the preceding month and (b) with respect to Loan Group IV, on the
first anniversary of the Cut-Off Date, 1.0%, and on the second, third and
fourth anniversaries of the Cut-Off Date, 0.50%, of the aggregate principal
balance of the Group IV Loans as of the Due Date in the preceding month and
(ii) the excess of the Fraud Coverage Initial Amount for such Loan Group over
cumulative Fraud Losses allocated to the Certificates in the related
Certificate Group to date. Fraud Coverage may be reduced upon written
confirmation from the Rating Agencies that such reduction will not adversely
affect the then current ratings assigned to the Certificates in the related
Certificate Group by the Rating Agencies.
FRAUD COVERAGE INITIAL AMOUNT: With respect to the Group I
Certificates, $9,681,885, with respect to the Group II Certificates,
$4,148,729, with respect to the Group III Certificates, $2,570,655, with
respect to the Group IV Certificates, $1,500,985 and with respect to the
Group V Certificates, $4,709,628.
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 Group I-A, Group I-B, Class I-P and Class I-X
Certificates.
GROUP I-A CERTIFICATES: The Class I-A-1, Class I-A-2 and Class I-A-3
Certificates.
GROUP I-A-L CERTIFICATES: The Class I-A-1-L, Class I-A-2-L, Class
I-A-3-L and Class R-L Certificates.
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.
GROUP I-B-L CERTIFICATES: The Class I-B-1-L, Class I-B-2-L, Class
I-B-3-L, Class I-B-4-L, Class I-B-5-L and Class I-B-6-L Certificates.
GROUP I-L CERTIFICATES: The Group I-A-L, Group I-B-L, Class I-P-L and
Class I-X-L Certificates.
GROUP I-L SENIOR CERTIFICATES: The Group I-A-L, Class I-X-L and Class
I-P-L 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.
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GROUP I LOANS: The Mortgage Loans designated on the Mortgage Loan
Schedule as Group I Loans.
GROUP I LOCKOUT 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 Lockout Percentage of the Principal Balance of such
Mortgage Loan (exclusive of the Class I-P Fraction thereof, if applicable)
and (ii) the Group I Lockout Percentage on any Distribution Date occurring
prior to the fifth anniversary of the first Distribution Date, and the Group
I Lockout Prepayment Percentage on any Distribution Date thereafter, in each
case, of the Liquidation Principal with respect to such Mortgage Loan.
GROUP I LOCKOUT PERCENTAGE: For any Distribution Date, the sum of the
Class I-A-3-L Principal Balance and the Component II-A-1-5-L Principal
Balance divided by the sum of (a) the aggregate Class Principal Balance of
the Group I-L Certificates (less the Class I-P-L Principal Balance) and the
Class R and Class R-1 Certificates and (b) the Component II-A-1-5-L Principal
Balance, in each case immediately prior to the Distribution Date.
GROUP I LOCKOUT PREPAYMENT PERCENTAGE: For any Distribution Date, the
product of (a) the Group I Lockout Percentage for such Distribution Date and
(b) the applicable Step Down Percentage.
GROUP I LOCKOUT PRINCIPAL DISTRIBUTION AMOUNT: For any Distribution
Date, an amount equal to the sum of (i) the Group I Lockout Percentage of the
Principal Payment Amount for Loan Group I (exclusive of the portion thereof
attributable to principal distributions to the Class I-P-L Certificates
pursuant to clause (I)(a)(i) of the definition of "Mortgage Trust Certificate
Distribution Amount"), (ii) the Group I Lockout 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-L
Certificates pursuant to clause (I)(a)(i) of the definition of "Mortgage
Trust Certificate Distribution Amount"), and (iii) the Group I Lockout
Liquidation Amount.
GROUP I PREMIUM RATE MORTGAGE LOANS: The Group I Loans having
Pass-Through Rates in excess of 7.000% per annum.
GROUP I SENIOR CERTIFICATES: The Group I-A, Class I-X 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
quotient of (i) the sum of (a) the aggregate Class Principal Balance of the
Group I-A-L Certificates, the Class R Certificates, the Class R-1
Certificates and the Component II-A-1-5-L Principal Balance divided
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by (ii) the sum of (a) the aggregate Class Principal Balance of the Group I-L
Certificates (less the Class I-P-L Principal Balance), the Class R
Certificates, the Class R-1 Certificates and the Component II-A-1-5-L
Principal Balance, in each case immediately prior to the 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 Mortgage 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
(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
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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-L Certificates) and Component
II-A-1-5-L of the Class II-A-1-L 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-L Certificates) and
the Class II-A-5-L 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-L 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-L Certificates
pursuant to clause (I)(a)(i) of the definition of "Mortgage Trust 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-L
Certificates pursuant to clause (I)(a)(i) of the definition of "Mortgage
Trust 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 Principal Balances for the Group I-A, Class R and
Class R-1 Certificates and the Component II-A-1-5 Principal Balance have 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 Group I Subordinate Percentage of
the Principal Payment Amount for Loan Group I (exclusive of the portion
thereof attributable to principal distributions to the Class I-P-L
Certificates pursuant to clause (I)(a)(i) of the definition of "Mortgage
Trust 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
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distributed to the Class I-P-L Certificates pursuant to clauses (I)(a)(v) and
(I)(a)(vi) of the definition of "Mortgage Trust 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-L Certificates and paid in the order of
distribution to such Classes pursuant to clause (I)(a) of the definition of
"Mortgage Trust Certificate Distribution Amount", 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-L 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-L 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-L
Certificates shall be as follows: Class I-B-1-L, Class I-B-2-L, Class
I-B-3-L, Class I-B-4-L, Class I-B-5-L and Class I-B-6-L.
GROUP I SUBORDINATE PRINCIPAL PREPAYMENTS DISTRIBUTION AMOUNT: On any
Distribution Date, the Group I Subordinate 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-L
Certificates pursuant to clause (I)(a)(i) of the definition of "Mortgage
Trust Certificate Distribution Amount").
GROUP II CERTIFICATES: The Group II-A, Group II-B and Class II-X
Certificates.
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, Class II-A-10 and Class II-A-11 Certificates.
GROUP II-A-L CERTIFICATES: The Class II-A-1-L, Class II-A-3-L, Class
II-A-4-L, Class II-A-5-L, Class II-A-6-L, Class II-A-7-L, Class II-A-8-L,
Class II-A-9-L and Class II-A-10-L Certificates.
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.
GROUP II-B-L CERTIFICATES: The Class II-B-1-L, Class II-B-2-L, Class
II-B-3-L, Class II-B-4-L, Class II-B-5-L and Class II-B-6-L Certificates.
GROUP II-L CERTIFICATES: The Group II-A-L, Group II-B-L and Class II-X-L
Certificates.
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GROUP II-L SENIOR CERTIFICATES: The Group II-A-L and Class II-X-L
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 LOANS: 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 and Class II-X
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 II-PO 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 (a) the aggregate Class Principal Balances of the Group II-A-L
Certificates and with respect to the Class II-A-1-L Certificates, the
Component Principal Balances of Component II-A-1-1 and Component II-A-1-2
divided by the sum of (a) the aggregate Class Principal Balances of the Group
II-L Certificates and with respect to the Class II-A-1-L Certificates, the
Component Principal Balances of Component II-A-1-1 and Component II-A-1-2, in
each case immediately prior to the 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 Mortgage 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
(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
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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 to the Class II-A-5-L Certificates and Component
II-A-1-4-L of the Class II-A-1-L Certificates) of Principal Prepayments in
the percentage required would reduce the sum of the Class Principal Balances
of such Group II Senior 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, Component II-A-1-4-L will
receive the II-PO Fraction of all principal payments, including, without
limitation, Principal Prepayments, received in respect of each II-PO 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 Component II-A-1-4-L pursuant to
clause (I)(b)(i) of the definition of "Mortgage Trust Certificate
Distribution Amount"), (b) the Group II Senior Prepayment Percentage of the
Principal Prepayment Amount
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for Loan Group II (exclusive of the portion thereof attributable to principal
distributions to Component II-A-1-4-L pursuant to clause (I)(b)(i) of the
definition of "Mortgage Trust 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 for the Group II-A Certificates
(other than, with respect to the Class II-A-1 Certificates, Component
II-A-1-4 and Component II-A-1-5) has 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 Group II Subordinate Percentage of
the Principal Payment Amount for Loan Group II (exclusive of the portion
thereof attributable to principal distributions to Component II-A-1-4-L
pursuant to clause (I)(b)(i) of the definition of "Mortgage Trust 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 Component II-A-1-4-L
pursuant to clause (I)(b)(v) and (I)(b)(vi) of the definition of "Mortgage
Trust 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-L Certificates and
paid in the order of distribution to such Classes pursuant to clause (I)(b)
of the definition of "Mortgage Trust Certificate Distribution Amount", 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-L 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-L 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-L
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-L,
Class II-B-2-L, Class II-B-3-L, Class II-B-4-L, Class II-B-5-L and Class
II-B-6-L.
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GROUP II SUBORDINATE PRINCIPAL PREPAYMENTS DISTRIBUTION AMOUNT: On any
Distribution Date, the Group II Subordinate Prepayment Percentage of the
Principal Prepayment Amount for Loan Group II (exclusive of the portion
thereof attributable to principal distributions to Component II-A-1-4-L
pursuant to clause (I)(b)(i) of the definition of "Mortgage Trust Certificate
Distribution Amount").
GROUP II WAC IO 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%.
GROUP III CERTIFICATES: The Class III-A-1, Group III-B, Class III-P and
Class III-X Certificates.
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.
GROUP III-B-L CERTIFICATES: The Class III-B-1-L, Class III-B-2-L,
Class III-B-3-L, Class III-B-4-L, Class III-B-5-L and Class III-B-6-L
Certificates.
GROUP III-L CERTIFICATES: The Class III-A-1-L, Group III-B-L, Class III-P-L
and Class III-X-L Certificates.
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 LOANS: The Mortgage Loans designated on the Mortgage Loan
Schedule as Group III Loans.
GROUP III SENIOR CERTIFICATES: The Class III-A-1, Class III-X and
Class III-P Certificates, collectively.
GROUP III-L SENIOR CERTIFICATES: The Class III-A-1-L, Class III-X-L and
Class III-P-L Certificates, collectively.
GROUP III PREMIUM RATE MORTGAGE LOANS: The Group III Loans having
Pass-Through Rates in excess of 7.000% per annum.
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
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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-A-1-L Principal Balance divided by the aggregate Class Principal
Balance of the Group III-L Certificates (less the Class III-P-L Principal
Balance), in each case immediately prior to the 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 IV Loans which are
60 or more days delinquent (including loans in foreclosure and
property held by the Mortgage 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 IV-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
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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-L 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-L 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-L 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.
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-L
Certificates pursuant to clause (I)(a)(i) of the definition of "Mortgage
Trust 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-L Certificates pursuant to clause (I)(c)(i) of the definition of
"Mortgage Trust 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 Class
III-A-1 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 Group III Subordinate Percentage
of the Principal Payment Amount for Loan Group III (exclusive of the portion
thereof attributable to principal distributions
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to the Class III-P-L Certificates pursuant to clause (I)(a)(i) of the
definition of "Mortgage Trust 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-L Certificates pursuant to clauses (I)(c)(v)
and (I)(c)(vi) of the definition of "Mortgage Trust 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-L Certificates and
paid in the order of distribution to such Classes pursuant to clause (I)(c)
of the definition of "Mortgage Trust Certificate Distribution Amount", 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-L 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-L 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-L, Class III-B-2-L, Class III-B-3-L, Class III-B-4-L, Class III-B-5-L
and Class III-B-6-L.
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-L
Certificates pursuant to clause (I)(c)(i) of the definition of "Mortgage
Trust Certificate Distribution Amount").
GROUP IV CERTIFICATES: The Class IV-A-1, Class IV-B-1, Class IV-B-2,
Class IV-B-3, Class IV-B-4, Class IV-B-5, Class IV-B-6, Class IV-P and
Class IV-X Certificates.
GROUP IV-B CERTIFICATES: The Class IV-B-1, Class IV-B-2, Class IV-B-3,
Class IV-B-4, Class IV-B-5 and Class IV-B-6 Certificates.
GROUP IV-B-L CERTIFICATES: The Class IV-B-1-L, Class IV-B-2-L,
Class IV-B-3-L, Class IV-B-4-L, Class IV-B-5-L and Class IV-B-6-L Certificates.
GROUP IV-L CERTIFICATES: The Class IV-A-1-L, Group IV-B-L, Class IV-P-L
and Class IV-X-L Certificates.
GROUP IV-L SENIOR CERTIFICATES: The Class IV-A-1-L, Class IV-X-L and
Class IV-P-L Certificates, collectively.
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GROUP IV CREDIT SUPPORT DEPLETION DATE: The first Distribution Date on
which the aggregate of the Class Principal Balances of the Group IV-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 IV LOANS: The Mortgage Loans designated on the Mortgage Loan
Schedule as Group IV Loans.
GROUP IV PREMIUM RATE MORTGAGE LOANS: The Group IV Loans having
Pass-Through Rates in excess of 6.750% per annum.
GROUP IV SENIOR CERTIFICATES: The Class IV-A-1, Class IV-X and Class
IV-P Certificates, collectively.
GROUP IV SENIOR LIQUIDATION AMOUNT: The aggregate, for each Group IV
Loan which became a Liquidated Mortgage Loan during the Prior Period, of the
lesser of: (i) the Group IV Senior Percentage of the Principal Balance of
such Mortgage Loan (exclusive of the Class IV-P Fraction thereof, if
applicable), and (ii) the Group IV Senior Prepayment Percentage of the
Liquidation Principal with respect to such Mortgage Loan.
GROUP IV SENIOR PERCENTAGE: With respect to any Distribution Date, the
Class IV-A-1-L Principal Balance divided by the aggregate Class Principal
Balance of the Group IV-L Certificates (less the Class IV-P-L Principal
Balance), in each case immediately prior to the Distribution Date.
GROUP IV 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 IV Senior Percentage for such Distribution Date exceeds the
initial Group IV 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 IV Loans which are
60 or more days delinquent (including loans in foreclosure and
property held by the Mortgage 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 IV-B Certificates as of such Distribution Date, and
(b) cumulative Realized Losses on the Group IV Loans allocated to
the Group IV-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 IV-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 IV-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
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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 IV-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 IV-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 IV-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 IV Senior Percentage for such Distribution Date plus 70% of the
Subordinate Percentage for Loan Group IV 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 IV Senior Percentage
for such Distribution Date plus 60% of the Subordinate Percentage for Loan
Group IV 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 IV Senior Percentage for such Distribution Date
plus 40% of the Subordinate Percentage for Loan Group IV 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 IV Senior Percentage for such Distribution Date plus 20% of the
Subordinate Percentage for Loan Group IV for such Distribution Date; and (5)
for any such Distribution Date thereafter, the Group IV Senior Percentage for
such Distribution Date.
If on any Distribution Date the allocation to the Group IV Senior
Certificates (other than the Class IV-P-L Certificates) of Principal
Prepayments in the percentage required would reduce the sum of the Class
Principal Balances of the Group IV Senior Certificates (other than the Class
IV-P-L Certificates) below zero, the Group IV 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 IV-P-L Certificates will receive the Class IV-P
Fraction of all principal payments, including, without limitation, Principal
Prepayments, received in respect of each Class IV-P Mortgage Loan.
GROUP IV SENIOR PRINCIPAL DISTRIBUTION AMOUNT: For any Distribution
Date, an amount equal to the sum of (a) the Group IV Senior Percentage of the
Principal Payment Amount for Loan Group IV (exclusive of the portion thereof
attributable to principal distributions to the Class IV-P-L Certificates
pursuant to clause (I)(a)(i) of the definition of "Mortgage Trust Certificate
Distribution Amount"), (b) the Group IV Senior Prepayment Percentage of the
Principal Prepayment Amount for Loan Group IV (exclusive of the portion
thereof attributable to principal distributions to the Class IV-P-L
Certificates pursuant to clause (I)(d)(i) of the definition of "Mortgage
Trust Certificate Distribution Amount") and (c) the Group IV Senior
Liquidation Amount.
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GROUP IV SUBORDINATE LIQUIDATION AMOUNT: The excess, if any, of the
aggregate of Liquidation Principal for all Group IV Loans which became
Liquidated Mortgage Loans during the Prior Period, over the related Group IV
Senior Liquidation Amount for such Distribution Date.
GROUP IV SUBORDINATE PERCENTAGE: With respect to any Distribution Date,
the excess of 100% over the Group IV Senior Percentage for such date.
GROUP IV SUBORDINATE PREPAYMENT PERCENTAGE: On any Distribution Date for
Loan Group IV, the excess of 100% over the Group IV Senior Prepayment
Percentage for such Distribution Date; provided, however, that if the Class
IV-A-1 Principal Balance has been reduced to zero, then the Group IV
Subordinate Prepayment Percentage shall equal 100%.
GROUP IV SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT: On any Distribution
Date, the excess of (A) the sum of (i) the Group IV Subordinate Percentage of
the Principal Payment Amount for Loan Group IV (exclusive of the portion
thereof attributable to principal distributions to the Class IV-P-L
Certificates pursuant to clause (I)(d)(i) of the definition of "Mortgage
Trust Certificate Distribution Amount"), (ii) the Group IV Subordinate
Principal Prepayments Distribution Amount and (iii) the Group IV Subordinate
Liquidation Amount over (B) the amounts required to be distributed to the
Class IV-P-L Certificates pursuant to clauses (I)(d)(v) and (I)(d)(vi) of the
definition of "Mortgage Trust Certificate Distribution Amount" on such
Distribution Date. Any reduction in the Group IV 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 IV Subordinate Principal Distribution Amount
shall be allocated pro rata, by Class Principal Balance, among the Classes of
Group IV-B-L Certificates and paid in the order of distribution to such
Classes pursuant to clause (I)(d) of the definition of "Mortgage Trust
Certificate Distribution Amount", 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
IV-B-L Certificates is less than such percentage as of the Cut-Off Date, the
pro rata portion of the Group IV 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 IV-B-L
Certificates for which the Subordination Level is less than such percentage
as of the Cut-Off Date, and to the Classes of Group IV-B-L 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 IV-B Certificates shall be as follows: Class IV-B-1-L, Class IV-B-2-L,
Class IV-B-3-L, Class IV-B-4-L, Class IV-B-5-L and Class IV-B-6-L.
GROUP IV SUBORDINATE PRINCIPAL PREPAYMENTS DISTRIBUTION AMOUNT: On any
Distribution Date, the Group IV Subordinate Prepayment Percentage of the
Principal Prepayment Amount for Loan Group IV (exclusive of the portion
thereof attributable to principal distributions to the Class IV-P-L
Certificates pursuant to clause (I)(d)(i) of the definition of "Mortgage
Trust Certificate Distribution Amount").
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GROUP V CERTIFICATES: The Group V-A and Group V-B Certificates.
GROUP V-A CERTIFICATES: The Class V-A-1, Class V-A-2, Class V-A-3, Class
V-A-4, Class V-A-5, Class V-A-6, Class V-A-7, Class V-A-8 and Class V-A-9
Certificates.
GROUP V-A-L CERTIFICATES: The Class V-A-1-L, Class V-A-2-L, Class
V-A-3-L, Class V-A-4-L and Class V-A-7-L and Class V-A-9-L Certificates.
GROUP V-B CERTIFICATES: The Class V-B-IO, Class V-B-1, Class V-B-2,
Class V-B-3, Class V-B-4, Class V-B-5 and Class V-B-6 Certificates.
GROUP V-B-L CERTIFICATES: The Class V-B-1-L, Class V-B-2-L, Class
V-B-3-L, Class V-B-4-L, Class V-B-5-L and Class V-B-6-L Certificates.
GROUP V-L CERTIFICATES: The Group V-A-L and Group V-B-L Certificates.
GROUP V CREDIT SUPPORT DEPLETION DATE: The first Distribution Date on
which the aggregate of the Class Principal Balances of the Group V-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 V LOANS: The Mortgage Loans designated on the Mortgage Loan
Schedule as Group V Loans.
GROUP V SENIOR LIQUIDATION AMOUNT: The aggregate, for each Group V Loan
which became a Liquidated Mortgage Loan during the Prior Period, of the
lesser of: (i) the Group V Senior Percentage of the Principal Balance of such
Mortgage Loan, and (ii) the Group V Senior Prepayment Percentage of the
Liquidation Principal with respect to such Mortgage Loan.
GROUP V SENIOR PERCENTAGE: With respect to any Distribution Date, the
Class Principal Balance of the Group V-A-L and Class R-2 Certificates divided
by the aggregate Class Principal Balance of the Group V-L and Class R-2
Certificates, in each case immediately prior to the Distribution Date.
GROUP V 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 V Senior Percentage for such Distribution Date exceeds the
initial Group V 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 V Loans which are
60 or more days delinquent (including loans in foreclosure and
property held by the Group V 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 V-B Certificates as of such Distribution Date, and
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(b) cumulative Realized Losses on the Group V Loans allocated to the
Group V-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 V-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 V-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 V-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 V-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 V-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 V Senior Percentage for such Distribution Date plus 70% of the
Subordinate Percentage for Loan Group V 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 V Senior Percentage
for such Distribution Date plus 60% of the Subordinate Percentage for Loan
Group V 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 V Senior Percentage for such Distribution Date
plus 40% of the Subordinate Percentage for Loan Group V 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 V Senior
Percentage for such Distribution Date plus 20% of the Subordinate Percentage
for Loan Group V for such Distribution Date; and (5) for any such
Distribution Date thereafter, the Group V Senior Percentage for such
Distribution Date.
If on any Distribution Date the allocation to the Group V-A
Certificates of Principal Prepayments in the percentage required would reduce
the sum of the Class Principal Balances of the Group V-A Certificates below
zero, the Group V Senior Prepayment Percentage for such Distribution Date
shall be limited to the percentage necessary to reduce such sum to zero.
GROUP V SENIOR PRINCIPAL DISTRIBUTION AMOUNT: For any
Distribution Date, an amount equal to the sum of (a) the Group V Senior
Percentage of the Principal Payment Amount for Loan Group V, (b) the Group V
Senior Prepayment Percentage of the Principal Prepayment Amount for Loan
Group V and (c) the Group V Senior Liquidation Amount.
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GROUP V SUBORDINATE LIQUIDATION AMOUNT: The excess, if any, of the
aggregate of Liquidation Principal for all Group V Loans which became
Liquidated Mortgage Loans during the Prior Period, over the Group V Senior
Liquidation Amount for such Distribution Date.
GROUP V SUBORDINATE PERCENTAGE: With respect to any Distribution Date,
the excess of 100% over the Group V Senior Percentage for such Distribution
Date.
GROUP V SUBORDINATE PREPAYMENT PERCENTAGE: On any Distribution Date for
Loan Group V, the excess of 100% over the Group V Senior Prepayment
Percentage for such Distribution Date; provided, however, that if the
aggregate of the Class Principal Balances for the Group V-A-L Certificates
has been reduced to zero, then the Group V Subordinate Prepayment Percentage
shall equal 100%.
GROUP V SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT: On any Distribution
Date, the sum of (i) the Group V Subordinate Percentage of the Principal
Payment Amount for Loan Group V, (ii) the Group V Subordinate Principal
Prepayments Distribution Amount and (iii) the Group V Subordinate Liquidation
Amount. On any Distribution Date, the Group V Subordinate Principal
Distribution Amount shall be allocated pro rata, by Class Principal Balance,
among the Classes of Group V-B-L Certificates and paid in the order of
distribution to such Classes pursuant to clause (I)(e) of the definition of
"Mortgage Trust Certificate Distribution Amount", 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 V-B-L Certificates is less than such percentage as of the Cut-Off
Date, the pro rata portion of the Group V 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 V-B-L
Certificates for which the Subordination Level is less than such percentage
as of the Cut-Off Date, and to the Classes of Group V-B-L 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 V-B-L
Certificates shall be as follows: Class V-B-1-L, Class V-B-2-L, Class
V-B-3-L, Class V-B-4-L, Class V-B-5-L and Class V-B-6-L.
GROUP V SUBORDINATE PRINCIPAL PREPAYMENTS DISTRIBUTION AMOUNT: On any
Distribution Date, the Group V Subordinate Prepayment Percentage of the
Principal Prepayment Amount for Loan Group V.
GROUP V TRUST: As defined in Section 2.09.
GROUP V TRUST AVAILABLE DISTRIBUTION AMOUNT: On any Distribution Date,
the sum of the following amounts with respect to the Group V Loans:
(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
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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;
(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 Mortgage Trust 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.
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GROUP V TRUST CERTIFICATE DISTRIBUTION AMOUNT: With respect to the
Group V Trust Certificates and Class R-2 Certificates, to the extent of the
Group V Trust Available Distribution Amount remaining following prior
distributions, if any, on such Distribution Date:
(i) first, to the Group V Trust Certificates and the Class
R-2 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;
(ii) second, to the Group V Trust Certificates and the Class
R-2 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;
(iii) third, from the Group V Trust Available Distribution
Amount remaining after the distributions above, to the Class R-2
Certificates, until the Class R-2 Principal Balance has been reduced to
zero;
(iv) fourth, from the Group V Trust Available Distribution
Amount remaining after the distributions above, concurrently, as
follows, (A) to the Class V-2 Certificates, the Class V-2 Principal
Distribution Amount, (B) to the Class V-3 Certificates, the Class V-3
Principal Distribution Amount and (C) to the Class V-4 Certificates, the
Class V-4 Principal Distribution Amount;
(v) fifth, from the Group V Trust Available Distribution
Amount remaining after the distributions above, to the Class V-1
Certificates, the Class V-1 Principal Distribution Amount; and
(vi) sixth, from the Group V Trust Available Distribution
Amount remaining after the distributions above, to the Class R-2
Certificates, the applicable Residual Distribution Amount.
GROUP V TRUST CERTIFICATES: The Class V-1, Class V-2, Class V-3 and
Class V-4 Certificates.
GROUP V TRUST FUND: The Group V Trust Fund created pursuant to Section
2.09 of this Agreement. The Group V Trust Fund consists of (i) the Group V
Loans and all rights pertaining thereto; (ii) the portion of such assets as
from time to time may be held by the Trustee (or its duly appointed agent) in
the Certificate Account or the Investment Account (except amounts
representing the Master Servicing Fee or the Servicing Fee) as they relate to
the Group V Loans; (iii) such assets as from time to time may be held by
Servicers in a Custodial Account for P&I or Custodial Account for Reserves
related to the Group V Loans (except amounts representing the Master
Servicing Fee or the Servicing Fee); (iv) property which secured a Group V
Loan and which has been acquired by foreclosure or deed in lieu of
foreclosure or, in the case of any Cooperative Loan that is a Group V Loan, a
similar form of conversion, after the Cut-Off Date; and (v) amounts paid or
payable by the insurer under any FHA insurance policy or any Primary
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Insurance Policy and proceeds of any VA guaranty and any other insurance
policy related to any Group V Loan or the portion of the Mortgage Pool
relating to the Group V Loans. The Reserve Fund shall not be an asset of the
Group V Trust Fund.
GROUP V WEIGHTED AVERAGE RATE: On any Distribution Date, the average of
the Pass-Through Rates on the Group V Loans as of the second preceding Due
Date, or with respect to the Distribution Date occurring on February 25,
1998, as of the Cut-off Date, with such average weighted by the Principal
Balances of each Group V Loan.
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
Group V Trust Certificates, Mortgage Trust Certificates (other than the Class
II-A-1-L Certificates), the Class R-1 Certificates, the Class R-2
Certificates or Component of the Mortgage Trust Certificates, the amount of
interest accrued on the respective Class Principal Balance, Component
Principal Balance, Class Notional Amount or Component Notional Amount, as
applicable, at 1/12th of the related Remittance Rate for such Class or
Component during the Prior Period, in each case 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
Component II-A-1-2-L of the Class II-A-1-L Certificates on or before the
Component II-A-1-2 Accretion Termination Date, such amount shall be reduced
by the Component II-A-1-2 Accrual Amount and (b) in the case of the Class
II-A-7-L Certificates on the before the Class II-A-7 Accretion Termination
Date, such amount shall be reduced by the Class II-A-7 Accrual Amount and (c)
in the case of the Class V-A-7-L Certificates on or before the Class V-A-7
Accretion Termination Date, such amount shall be reduced by the Class V-A-7
Accrual Amount. The Interest Distribution Amount for the Class P-L
Certificates and for Component II-A-1-1-L and Component II-A-1-4-L of the
Class II-A-1-L Certificates 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
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Servicer in the trust department of the Investment Depository pursuant to
Section 3.03 and which bears a designation acceptable to the Rating Agencies.
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 CERTIFICATE : 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, Class III-B-6, Class IV-B-4, Class IV-B-5, Class IV-B-6, Class
V-B-4, Class V-B-5 and Class V-B-6 Certificates, collectively.
LENDER: An institution from which the Company purchased any Mortgage
Loans pursuant to a Selling and Servicing Contract.
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 Mortgage Trust
Fund or Group V Trust Fund, as applicable, 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 distributions to
the Class P-L Certificates and Component II-A-1-4-L of the Class II-A-1-L
Certificates pursuant to clauses (I)(a)(i), (I)(b)(i), (I)(c)(i), and
(I)(d)(i) of the definition of "Mortgage Trust Certificate Distribution
Amount") 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, Loan Group III, Loan Group IV
or Loan Group V, 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 GROUP IV: The group of Mortgage Loans comprised of the Group IV
Loans.
LOAN GROUP V: The group of Mortgage Loans comprised of the Group V Loans.
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LOAN-TO-VALUE RATIO: The original principal amount of a Mortgage Loan
divided by the Original Value; however, references to "current Loan-to-Value
Ratio" shall mean the then current Principal Balance of a Mortgage Loan
divided by the Original Value.
MASTER SERVICER: 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 or the Custodial Account for P&I.
MONTHLY P&I ADVANCE: An advance of funds by the 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.
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.
MORTGAGE FILE: The following documents or instruments with respect to
each Mortgage Loan transferred and assigned pursuant to Section 2.01 or
Section 2.09, (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 1998-1, 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
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Note, together with an original lost note affidavit from the originator
of the related Mortgage Loan or the Company stating that the original
Mortgage Note was lost, misplaced or destroyed, together with a copy of
the related Mortgage Note; in the event the Mortgage Notes or the
assignments referred to in Section (iii)(2) of this definition of
"Mortgage File" are endorsed or executed in blank as of the Closing
Date, the Company shall, within 45 days of the Closing Date, cause such
Mortgage Notes or assignments to be endorsed or executed pursuant to the
terms set forth herein;
(ii) The Buydown Agreement, if applicable;
(iii) A Mortgage that is either
(1) the original recorded Mortgage with recording
information thereon for the jurisdiction in which the Mortgaged Property
is located, together with a Mortgage assignment thereof in recordable
form to "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
1998-1" 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 1998-1" 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 Trustee for the Holders of PNC Mortgage Securities Corp.
Mortgage Pass-Through Certificates, Series 1998-1" 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
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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:
(i) its loan number,
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(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, and
(ix) the Servicing Fee, the Master Servicing Fee and the
Certificate Administrator Fee, and
(x) its Loan Group.
In addition, the Mortgage Loan Schedule will separately set forth, with
respect to each Loan Group other than Loan Group II and Loan Group III, a
listing of the IndyMac Mortgage Loans and the PNC Mortgage Loans. All of the
Mortgage Loans described in the Mortgage Loan Schedule relating to Loan Group
II and Loan Group III are PNC Mortgage Loans other than Mortgage Loan number
600105205 with respect to Loan Group II and Mortgage Loan number 600105225
with respect to Loan Group III, which are IndyMac Mortgage Loans.
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 Group V
Trust Fund or Mortgage 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.
MORTGAGE TRUST: As defined in Section 2.01.
MORTGAGE TRUST AVAILABLE DISTRIBUTION AMOUNT: With respect to each Loan
Group other than Loan Group V, 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
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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;
(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 Mortgage Trust 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.
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With respect to Loan Group V, the "Mortgage Trust Available Distribution
Amount" on any Distribution Date shall be the aggregate of all distributions
with respect to the Group V Trust Certificates.
MORTGAGE TRUST CERTIFICATE DISTRIBUTION AMOUNT: (I) For any Distribution
Date prior to the Group I, Group II, Group III, Group IV or Group V Credit
Support Depletion Date, as applicable, the Mortgage Trust Available
Distribution Amount for the related Loan Group shall be distributed to the
Mortgage Trust Certificates of the related Certificate Group in the following
amounts and priority:
(a) With respect to the Group I-L Certificates, the Class R-1
Certificates and Component II-A-1-5-L of the Class II-A-1-L Certificates, on
any Distribution Date prior to the Group I Credit Support Depletion Date, to
the extent of the Mortgage Trust Available Distribution Amount for Loan Group
I remaining following prior distributions, if any, on such Distribution Date:
(i) first, to the Class I-P-L 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 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 Group I-A-L, Class I-X-L and Class R-1
Certificates and to Component II-A-1-5-L, concurrently, the sum of the
Interest Distribution Amounts for such Classes and Component of
Certificates remaining unpaid from previous Distribution Dates, pro rata
according to their respective shares of such unpaid amounts;
(iii) third, to the Group I-A-L, Class I-X-L and Class R-1
Certificates and to Component II-A-1-5-L, concurrently, the sum of the
Interest Distribution Amounts for such Classes and Component of
Certificates for the current Distribution Date, pro rata according to
their respective Interest Distribution Amounts;
(iv) fourth, to the Group I-A-L and Class R-1 Certificates
and to Component II-A-1-5-L, as principal, the Group I Senior Principal
Distribution Amount as follows;
(a) first, to the Class I-A-3-L Certificates and
Component II-A-1-5-L, pro rata, an amount, up to the amount of
the Group I Lockout Principal Distribution Amount for such
Distribution Date, until the Class I-A-3-L Principal
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Balance and the Component II-A-1-5-L Principal Balance have been
reduced to zero;
(b) second, to the Class R-L and Class R-1
Certificates, pro rata, the portion of the Group I Senior
Principal Distribution Amount remaining after the distribution
in paragraph I(a)(iv)(a) above, until the Class R-L and Class
R-1 Principal Balances have been reduced to zero;
(c) third, to the Class I-A-1-L Certificates, the
portion of the Group I Senior Principal Distribution Amount
remaining after the distributions in paragraphs I(a)(iv)(a) and
(b) above, until the Class I-A-1-L Principal Balance has been
reduced to zero;
(d) fourth, to the Class I-A-2-L Certificates, the
portion of the Group I Senior Principal Distribution Amount
remaining after the distributions in paragraphs I(a)(iv)(a), (b)
and (c) above, until the Class I-A-2-L Principal Balance has
been reduced to zero; and
(e) fifth, to the Class I-A-3-L Certificates and
Component II-A-1-5-L, pro rata, the portion of the Group I
Senior Principal Distribution Amount remaining after the
distributions in paragraphs I(a)(iv)(a), (b), (c) and (d) above,
until the Class I-A-3 Principal Balance and the Component
II-A-1-5 Principal Balance have been reduced to zero.
(v) fifth, to the Class I-P-L 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-L Certificates on previous Distribution Dates pursuant to clause
(I)(a)(vi) of this definition of "Mortgage Trust Certificate
Distribution Amount" and remaining unpaid from such previous
Distribution Dates;
(vi) sixth, to the Class I-P-L 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, 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 "Mortgage Trust Certificate
Distribution Amount" shall not cause a further reduction in the Class
I-P-L Principal Balance;
(vii) seventh, to the Class I-B-1-L Certificates, the Interest
Distribution Amount for such Class of Certificates remaining unpaid from
previous Distribution Dates;
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(viii) eighth, to the Class I-B-1-L Certificates, the Interest
Distribution Amount for such Class of Certificates for the current
Distribution Date;
(ix) ninth, to the Class I-B-1-L 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", until the Class I-B-1-L
Principal Balance has been reduced to zero;
(x) tenth, to the Class I-B-2-L Certificates, the Interest
Distribution Amount for such Class of Certificates remaining unpaid from
previous Distribution Dates;
(xi) eleventh, to the Class I-B-2-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xii) twelfth, to the Class I-B-2-L 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", until the Class I-B-2-L
Principal Balance has been reduced to zero;
(xiii) thirteenth, to the Class I-B-3-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xiv) fourteenth, to the Class I-B-3-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xv) fifteenth, to the Class I-B-3-L 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", until the Class
I-B-3-L Principal Balance has been reduced to zero;
(xvi) sixteenth, to the Class I-B-4-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xvii) seventeenth, to the Class I-B-4-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xviii) eighteenth, to the Class I-B-4-L 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", until the Class
I-B-4-L Principal Balance has been reduced to zero;
(xix) nineteenth, to the Class I-B-5-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xx) twentieth, to the Class I-B-5-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
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(xxi) twenty-first, to the Class I-B-5-L 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", until the Class
I-B-5-L Principal Balance has been reduced to zero;
(xxii) twenty-second, to the Class I-B-6-L 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-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xxiv) twenty-fourth, to the Class I-B-6-L 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", until the Class
I-B-6-L Principal Balance has been reduced to zero;
(xxv) twenty-fifth, to each Class of Group I-B-L Certificates
in the order of seniority, the remaining portion, if any, of the
Mortgage Trust 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
"Mortgage Trust Certificate Distribution Amount" shall not cause a
further reduction in the Class Principal Balances of the Group I-B-L
Certificates; and
(xxvi) twenty-sixth, to the Class R-1 Certificates, the
Residual Distribution Amount for Loan Group I for such Distribution Date;
(b) With respect to the Group II-L Certificates (other than
Component II-A-1-5-L of the Class II-A-1-L Certificates) and Class R-1
Certificates, on any Distribution Date prior to the Group II Credit Support
Depletion Date, to the extent of the Mortgage Trust Available Distribution
Amount for Loan Group II remaining following prior distributions, if any, on
such Distribution Date:
(i) first, to Component II-A-1-4-L, the aggregate for all
II-PO Mortgage Loans of the product for each II-PO Mortgage Loan of the
applicable II-PO Fraction and the sum of (x) scheduled payments of
principal on such II-PO 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 II-PO 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 II-PO Mortgage Loan during the applicable Prepayment Period;
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(ii) second, to the Group II-A-L Certificates (other than the
Class II-A-1-L Certificates), the Class II-X-L Certificates and the
Class II-A-1-L Certificates in respect of Component II-A-1-2-L and
Component II-A-1-6-L, 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-7 Accretion Termination Date, the amount that would
otherwise be payable to the Class II-A-7-L Certificates pursuant to this
clause (I)(b)(ii) will be paid instead as principal as set forth in
clause (I)(b)(iii)(c) of this definition of Mortgage Trust Certificate
Distribution Amount, (ii) on or before the Component II-A-1-2 Accretion
Termination Date, the amount that would otherwise be payable to
Component II-A-1-2-L 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 Mortgage Trust Certificate Distribution Amount;
(iii) third,
(a) to the Group II-A-L Certificates (other than the Class
II-A-1-L Certificates), Class II-X and the Class II-A-1-L Certificates
in respect of Component II-A-1-2-L and Component II-A-1-6-L,
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;
provided, however, that (i) on or before the Class II-A-7 Accretion
Termination Date, the amount that would otherwise be payable to the
Class II-A-7-L Certificates pursuant to this clause (I)(b)(iii)(a) will
be paid instead as principal as set forth in clause (I)(b)(iii)(c) of
this definition of Mortgage Trust Certificate Distribution Amount, (ii)
on or before the Component II-A-1-2 Accretion Termination Date, the
amount that would otherwise be payable to Component II-A-1-2-L pursuant
to this clause (I)(b)(iii)(a) will be paid instead as principal as
described in clause (I)(b)(iii)(b) of this definition of Mortgage Trust
Certificate Distribution Amount;
(b) on or before the Component II-A-1-2 Accretion
Termination Date, the Component II-A-1-2 Accrual Amount, as principal,
as follows:
(1) first, to the extent of the amount necessary to
reduce the aggregate Class Principal Balance of the Class
II-A-3-L and Class II-A-4-L Certificates to their combined
Targeted Principal Balance for such Distribution Date,
sequentially as follows:
(A) to the Class II-A-3-L Certificates to
the extent necessary to reduce the Class II-A-3-L
Principal Balance to its Targeted Principal Balance for
such date;
(B) to the Class II-A-4-L Certificates,
until the Class II-A-4-L Principal Balance has been
reduced to zero; and
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(C) to the Class II-A-3-L Certificates,
until the Class II-A-3-L Principal Balance has been
reduced to zero;
(2) second, to Component II-A-1-2-L to the extent
necessary to reduce the Component II-A-1-2-L Principal Balance
to its Targeted Principal Balance for such Distribution Date;
(3) third, to the Class II-A-7-L Certificates, until
the Class II-A-7-L Principal Balance has been reduced to zero;
(4) fourth, until either the aggregate Class
Principal Balance of the Class II-A-3-L and Class II-A-4-L
Certificates or the Component II-A-1-2-L Principal Balance has
been reduced to zero, concurrently, as follows:
(A) 90.0000000000% sequentially as follows:
(i) to the Class II-A-3-L
Certificates, to the extent necessary to reduce
the Class II-A-3-L Principal Balance to its
Targeted Principal Balance for such Distribution
Date;
(ii) to the Class II-A-4-L
Certificates, until the Class II-A-4-L Principal
Balance has been reduced to zero; and
(iii) to the Class II-A-3-L
Certificates, until the Class II-A-3-L Principal
Balance has been reduced to zero; and
(B) 10.0000000000% to Component II-A-1-2-L,
until the Component II-A-1-2-L Principal Balance has
been reduced to zero;
(5) fifth, until the aggregate Class Principal
Balance of the Class II-A-3-L and Class II-A-4-L Certificates
has been reduced to zero, sequentially as follows:
(A) to the Class II-A-3-L Certificates, to
the extent necessary to reduce the Class II-A-3-L
Principal Balance to its Targeted Principal Balance for
such Distribution Date;
(B) to the Class II-A-4-L Certificates,
until the Class II-A-4-L Principal Balance has been
reduced to zero;
(C) to the Class II-A-3-L Certificates,
until the Class II-A-3-L Principal Balance has been
reduced to zero; and
(6) sixth, to Component II-A-1-2-L, until the
Component II-A-1-2-L Principal Balance has been reduced to zero;
and
(c) on or before the Class II-A-7 Accretion Termination
Date, the Class II-A-7 Accrual Amount, as principal, as follows:
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(1) first, to the extent necessary to reduce the
aggregate Class Principal Balance of the Class II-A-3-L and Class
II-A-4-L Certificates to their combined Targeted Principal Balance
for such Distribution Date, sequentially as follows:
(A) to the Class II-A-3-L Certificates to the
extent necessary to reduce the Class II-A-3-L Principal
Balance to its Targeted Principal Balance for such date;
(B) to the Class II-A-4-L Certificates, until
the Class II-A-4-L Principal Balance has been reduced to
zero; and
(C) to the Class II-A-3-L Certificates, until
the Class II-A-3-L Principal Balance has been reduced to
zero;
(2) second, to Component II-A-1-2-L to the extent
necessary to reduce the Component II-A-1-2-L Principal Balance
to its Targeted Principal Balance for such Distribution Date; and
(3) third, to the Class II-A-7-L Certificates, until
the Class II-A-7-L Principal Balance has been reduced to zero.
(iv) fourth, to the Group II-A-L Certificates (other than
Component II-A-1-4-L, Component II-A-1-5-L and Component II-A-1-6-L of the
Class II-A-1-L Certificates), as principal, the Group II Senior Principal
Distribution Amount concurrently as follows:
(a) 2.0979022439% to Component II-A-1-1-L, until the Component
II-A-1-1-L Principal Balance has been reduced to zero; and
(b) 97.9020977561% sequentially as follows:
(1) first, to the Class II-A-5-L Certificates, to
the extent necessary to reduce the Class II-A-5-L Principal
Balance to its Planned Principal Balance for such Distribution
Date;
(2) second, to the Class II-A-6-L Certificates, to
the extent necessary to reduce the Class II-A-6-L Principal
Balance to its Planned Principal Balance for such Distribution
Date;
(3) third, to the Class II-A-8-L Certificates, to
the extent necessary to reduce the Class II-A-8-L Principal
Balance to its Planned Principal Balance for such Distribution
Date;
(4) fourth, to the Class II-A-9-L Certificates, to
the extent necessary to reduce the Class II-A-9-L Principal
Balance to its Planned Principal Balance for such Distribution
Date;
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(5) fifth, to the Class II-A-10-L Certificates, to
the extent necessary to reduce the Class II-A-10-L Principal
Balance to its Planned Principal Balance for such Distribution
Date;
(6) sixth, to the extent necessary to reduce the
aggregate Class Principal Balance of the Class II-A-3-L and
Class II-A-4-L Certificates to its combined Targeted Principal
Balance for such Distribution Date, sequentially as follows:
(A) to the Class II-A-3-L Certificates, to the
extent necessary to reduce the Class II-A-3-L Principal
Balance to its Targeted Principal Balance for such
Distribution Date;
(B) to the Class II-A-4-L Certificates, until
the Class II-A-4-L Principal Balance has been reduced to
zero; and
(C) to the Class II-A-3-L Certificates, until
the Class II-A-3-L Principal Balance has been reduced to
zero;
(7) seventh, to Component II-A-1-2-L, to the extent
necessary to reduce the Component II-A-1-2-L Principal Balance
to its Targeted Principal Balance for such Distribution Date;
(8) eighth, to the Class II-A-7-L Certificates,
until the Class II-A-7-L Principal Balance has been reduced to
zero;
(9) ninth, until either the aggregate Class
Principal Balance of the Class II-A-3-L and Class II-A-4-L
Certificates or the Component II-A-1-2-L Principal Balance has
been reduced to zero, concurrently, as follows:
(A) 90.0000000000% sequentially as follows:
(i) to the Class II-A-3-L Certificates,
to the extent necessary to reduce the Class II-A-3
Principal Balance to its Targeted Principal Balance
for such Distribution Date;
(ii) to the Class II-A-4-L Certificates,
until the Class II-A-4-L Principal Balance has been
reduced to zero; and
(iii) to the Class II-A-3-L Certificates,
until the Class II-A-3-L Principal Balance has been
reduced to zero; and
(B) 10.0000000000% to Component II-A-1-2-L,
until the Component II-A-1-2-L Principal Balance has been
reduced to zero;
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(10) tenth, until the aggregate Class Principal
Balance of the Class II-A-3-L and Class II-A-4-L Certificates
has been reduced to zero, sequentially as follows:
(A) to the Class II-A-3-L Certificates, to the
extent necessary to reduce the Class II-A-3-L Principal
Balance to its Targeted Principal Balance for such
Distribution Date;
(B) to the Class II-A-4-L Certificates, until
the Class II-A-4-L Principal Balance has been reduced to
zero; and
(C) to the Class II-A-3-L Certificates, until
the Class II-A-3-L Principal Balance has been reduced to
zero;
(11) eleventh, to Component II-A-1-2-L, until the
Component II-A-1-2-L Principal Balance has been reduced to zero;
(12) twelfth, to the Class II-A-5-L Certificates,
until the Class II-A-5-L Principal Balance has been reduced to
zero;
(13) thirteenth, to the Class II-A-6-L Certificates,
until the Class II-A-6-L Principal Balance has been reduced to
zero;
(14) fourteenth, to the Class II-A-8-L Certificates,
until the Class II-A-8-L Principal Balance has been reduced to
zero;
(15) fifteenth, to the Class II-A-9-L Certificates,
until the Class II-A-9-L Principal Balance has been reduced to
zero;
(16) sixteenth, to the Class II-A-10-L Certificates,
until the Class II-A-10-L Principal Balance has been reduced to
zero;
(v) fifth, to Component II-A-1-4-L, 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 Component
II-A-1-4-L on previous Distribution Dates pursuant to clause (I)(b)(vi)
of this definition of "Mortgage Trust Certificate Distribution Amount"
and remaining unpaid from such previous Distribution Dates;
(vi) sixth, to Component II-A-1-4-L, 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 II-PO
Fraction of any Realized Loss on a II-PO 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)
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<PAGE>
or this paragraph (I)(b)(vi) of this definition of "Mortgage Trust
Certificate Distribution Amount" shall not cause a further reduction in
the Class II-A-1-4-L Principal Balance;
(vii) seventh, to the Class II-B-1-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(viii) eighth, to the Class II-B-1-L Certificates, the Interest
Distribution Amount for such Class of Certificates for the current
Distribution Date;
(ix) ninth, to the Class II-B-1-L 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", until the Class II-B-1-L
Principal Balance has been reduced to zero;
(x) tenth, to the Class II-B-2-L Certificates, the Interest
Distribution Amount for such Class of Certificates remaining unpaid from
previous Distribution Dates;
(xi) eleventh, to the Class II-B-2-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xii) twelfth, to the Class II-B-2-L 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", until the Class II-B-2-L
Principal Balance has been reduced to zero;
(xiii) thirteenth, to the Class II-B-3-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xiv) fourteenth, to the Class II-B-3-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xv) fifteenth, to the Class II-B-3-L 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", until the Class
II-B-3-L Principal Balance has been reduced to zero;
(xvi) sixteenth, to the Class II-B-4-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xvii) seventeenth, to the Class II-B-4-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xviii) eighteenth, to the Class II-B-4-L 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", until the Class
II-B-4-L Principal Balance has been reduced to zero;
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(xix) nineteenth, to the Class II-B-5-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xx) twentieth, to the Class II-B-5-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xxi) twenty-first, to the Class II-B-5-L 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", until the Class
II-B-5-L Principal Balance has been reduced to zero;
(xxii) twenty-second, to the Class II-B-6-L 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-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xxiv) twenty-fourth, to the Class II-B-6-L 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", until the Class
II-B-6-L Principal Balance has been reduced to zero;
(xxv) twenty-fifth, to each Class of Group II-B-L Certificates
in the order of seniority, the remaining portion, if any, of the
Mortgage Trust 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
"Mortgage Trust Certificate Distribution Amount" shall not cause a
further reduction in the Class Principal Balances of the Group II-B-L
Certificates; and
(xxvi) twenty-sixth, to the Class R-1 Certificates, the
Residual Distribution Amount for Loan Group II for such Distribution
Date;
(c) With respect to the Group III-L and Class R-1 Certificates, on
any Distribution Date prior to the Group III Credit t Depletion Date, to the
extent of the Mortgage Trust Available Distribution Amount for Loan Group III
remaining following prior butions, if any, on such Distribution Date:
(i) first, to the Class III-P-L 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
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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
applicable Prepayment Period;
(ii) second, to the Class III-A-1-L and Class III-X-L
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-A-1-L and Class III-X-L
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-A-1-L Certificates, as
principal, the Group III Senior Principal Distribution Amount;
(v) fifth, to the Class III-P-L 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-L Certificates on previous Distribution Dates pursuant to
clause (I)(c)(vi) of this definition of "Mortgage Trust Certificate
Distribution Amount" and remaining unpaid from such previous
Distribution Dates;
(vi) sixth, to the Class III-P-L 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, 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 "Mortgage
Trust Certificate Distribution Amount" shall not cause a further
reduction in the Class III-P-L Principal Balance;
(vii) seventh, to the Class III-B-1-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(viii) eighth, to the Class III-B-1-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(ix) ninth, to the Class III-B-1-L 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", until the Class III-B-1-L
Principal Balance has been reduced to zero;
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(x) tenth, to the Class III-B-2-L Certificates, the Interest
Distribution Amount for such Class of Certificates remaining unpaid from
previous Distribution Dates;
(xi) eleventh, to the Class III-B-2-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xii) twelfth, to the Class III-B-2-L 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", until the Class
III-B-2-L Principal Balance has been reduced to zero;
(xiii) thirteenth, to the Class III-B-3-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xiv) fourteenth, to the Class III-B-3-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xv) fifteenth, to the Class III-B-3-L 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", until the Class
III-B-3-L Principal Balance has been reduced to zero;
(xvi) sixteenth, to the Class III-B-4-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xvii) seventeenth, to the Class III-B-4-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xviii) eighteenth, to the Class III-B-4-L 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", until the Class
III-B-4-L Principal Balance has been reduced to zero;
(xix) nineteenth, to the Class III-B-5-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xx) twentieth, to the Class III-B-5-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xxi) twenty-first, to the Class III-B-5-L 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", until the Class
III-B-5-L Principal Balance has been reduced to zero;
(xxii) twenty-second, to the Class III-B-6-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
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(xxiii) twenty-third, to the Class III-B-6-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xxiv) twenty-fourth, to the Class III-B-6-L 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", until the Class
III-B-6-L Principal Balance has been reduced to zero;
(xxv) twenty-fifth, to each Class of Group III-B-L
Certificates in the order of seniority, the remaining portion, if any,
of the Mortgage Trust 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
"Mortgage Trust Certificate Distribution Amount" shall not cause a
further reduction in the Class Principal Balances of the Group III-B-L
Certificates; and
(xxvi) twenty-sixth, to the Class R-1 Certificates, the
Residual Distribution Amount for Loan Group III for such Distribution
Date;
(d) With respect to the Group IV-L and Class R-1 Certificates, on
any Distribution Date prior to the Group IV Credit Support Depletion Date, to
the extent of the Mortgage Trust Available Distribution Amount for Loan Group
IV remaining following prior distributions, if any, on such Distribution Date:
(i) first, to the Class IV-P-L Certificates, the aggregate
for all Class IV-P Mortgage Loans of the product for each Class IV-P
Mortgage Loan of the applicable Class IV-P Fraction and the sum of (x)
scheduled payments of principal on such Class IV-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 IV-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 IV-P Mortgage Loan during the
applicable Prepayment Period;
(ii) second, to the Class IV-A-1-L and Class IV-X-L
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 IV-A-1-L and Class IV-X-L
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;
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(iv) fourth, to the Class IV-A-1-L Certificates, as
principal, the Group IV Senior Principal Distribution Amount;
(v) fifth, to the Class IV-P-L Certificates, to the extent
of amounts otherwise available to pay the Group IV Subordinate Principal
Distribution Amount (without regard to clause (B) of the definition
thereof) on such Distribution Date, the amount payable to the Class
IV-P-L Certificates on previous Distribution Dates pursuant to clause
(I)(d)(vi) of this definition of "Mortgage Trust Certificate
Distribution Amount" and remaining unpaid from such previous
Distribution Dates;
(vi) sixth, to the Class IV-P-L Certificates, to the extent
of amounts otherwise available to pay the Group IV Subordinate Principal
Distribution Amount (without regard to clause (B) of the definition
thereof) on such Distribution Date, an amount equal to the Class IV-P
Fraction of any Realized Loss on a Class IV-P Mortgage Loan, other than
a Special Hazard Loss, Fraud Loss or Bankruptcy Loss in excess of the
Group IV Special Hazard Coverage, Group IV Fraud Coverage or Group IV
Bankruptcy Coverage, as applicable, provided that any amounts
distributed in respect of losses pursuant to paragraph (I)(d)(v) or this
paragraph (I)(d)(vi) of this definition of "Mortgage Trust Certificate
Distribution Amount" shall not cause a further reduction in the Class
IV-P-L Principal Balance;
(vii) seventh, to the Class IV-B-1-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(viii) eighth, to the Class IV-B-1-L Certificates, the Interest
Distribution Amount for such Class of Certificates for the current
Distribution Date;
(ix) ninth, to the Class IV-B-1-L Certificates, the portion
of the Group IV Subordinate Principal Distribution Amount allocable to
such Class of Certificates pursuant to the definition of "Group IV
Subordinate Principal Distribution Amount", until the Class IV-B-1-L
Principal Balance has been reduced to zero;
(x) tenth, to the Class IV-B-2-L Certificates, the Interest
Distribution Amount for such Class of Certificates remaining unpaid from
previous Distribution Dates;
(xi) eleventh, to the Class IV-B-2-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xii) twelfth, to the Class IV-B-2-L Certificates, the portion
of the Group IV Subordinate Principal Distribution Amount allocable to
such Class of Certificates pursuant to the definition of "Group IV
Subordinate Principal Distribution Amount", until the Class IV-B-2-L
Principal Balance has been reduced to zero;
(xiii) thirteenth, to the Class IV-B-3-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
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(xiv) fourteenth, to the Class IV-B-3-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xv) fifteenth, to the Class IV-B-3-L Certificates, the
portion of the Group IV Subordinate Principal Distribution Amount
allocable to such Class of Certificates pursuant to the definition of
"Group IV Subordinate Principal Distribution Amount", until the Class
IV-B-3-L Principal Balance has been reduced to zero;
(xvi) sixteenth, to the Class IV-B-4-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xvii) seventeenth, to the Class IV-B-4-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xviii) eighteenth, to the Class IV-B-4-L Certificates, the
portion of the Group IV Subordinate Principal Distribution Amount
allocable to such Class of Certificates pursuant to the definition of
"Group IV Subordinate Principal Distribution Amount", until the Class
IV-B-4-L Principal Balance has been reduced to zero;
(xix) nineteenth, to the Class IV-B-5-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xx) twentieth, to the Class IV-B-5-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xxi) twenty-first, to the Class IV-B-5-L Certificates, the
portion of the Group IV Subordinate Principal Distribution Amount
allocable to such Class of Certificates pursuant to the definition of
"Group IV Subordinate Principal Distribution Amount", until the Class
IV-B-5-L Principal Balance has been reduced to zero;
(xxii) twenty-second, to the Class IV-B-6-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xxiii) twenty-third, to the Class IV-B-6-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xxiv) twenty-fourth, to the Class IV-B-6-L Certificates, the
portion of the Group IV Subordinate Principal Distribution Amount
allocable to such Class of Certificates pursuant to the definition of
"Group IV Subordinate Principal Distribution Amount", until the Class
IV-B-6-L Principal Balance has been reduced to zero;
(xxv) twenty-fifth, to each Class of Group IV-B-L Certificates
in the order of seniority, the remaining portion, if any, of the
Mortgage Trust Available Distribution Amount for Loan Group IV, 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)(d)(xxv) of this definition of
"Mortgage Trust
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Certificate Distribution Amount" shall not cause a further reduction in
the Class Principal Balances of the Group IV-B-L Certificates; and
(xxvi) twenty-sixth, to the Class R-1 Certificates, the
Residual Distribution Amount for Loan Group IV for such Distribution
Date;
(e) With respect to the Group V-L and Class R-1 Certificates, on any
Distribution Date prior to the Group V Credit Support Depletion Date, to the
extent of the Mortgage Trust Available Distribution Amount remaining
following prior distributions, if any, on such Distribution Date:
(i) first, to the Group V-A-L Certificates, the sum of
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; provided, however, that on or
before the Class V-A-7 Accretion Termination Date, the amount that would
otherwise be payable to the Class V-A-7-L Certificates pursuant to this
clause (I)(e)(i) will be paid instead as principal as set forth in
clause (I)(b)(ii)(b) of this definition of Mortgage Trust Certificate
Distribution Amount;
(ii) second,
(a) to the Group V-A-L 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;
provided, however, that on or before the Class V-A-7 Accretion
Termination Date, the amount that would otherwise be payable to
the Class V-A-7-L Certificates pursuant to this clause
(I)(e)(ii)(a) will be paid instead as principal as set forth in
clause (I)(b)(ii)(b) of this definition of Mortgage Trust
Certificate Distribution Amount;
(b) on or before the Class V-A-7 Accretion
Termination Date, the Class V-A-7 Accrual Amount, as principal,
as follows:
(1) first, concurrently, until the Class
V-A-2-L Principal Balance has been reduced to zero:
(A) 12.0900230300% to the Class V-A-2-L
Certificates; and
(B) 87.9099769700% sequentially as
follows:
(i) first, until the Class
V-A-1-L Principal Balance has been reduced
to zero, concurrently:
(A) 27.7109294500% to
the Class V-A-1-L Certificates;
and
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(B) 72.2890705500% to
the Class V-A-3-L Certificates;
and
(ii) second, to the Class
V-A-3-L Certificates, until the Class
V-A-3-L Principal Balance has been
reduced to zero; and
(2) second, to the Class V-A-7-L
Certificates, until the Class V-A-7-L Principal Balance
has been reduced to zero;
(iii) third, to the Group V-A-L Certificates, as principal,
the Group V Senior Principal Distribution Amount, as follows:
(a) first, to the Class V-A-4-L Certificates, an
amount, up to the amount of the Class V-A-4 Lockout Principal
Distribution Amount for such Distribution Date, until the Class
V-A-4-L Principal Balance has been reduced to zero;
(b) second, to the Class V-A-9-L Certificates, the
portion of the Group V Senior Principal Distribution Amount
remaining after the distributions described above, an amount, up
to the amount of the Class V-A-9 Lockout Principal Distribution
Amount for such Distribution Date, until the Class V-A-9-L
Principal Balance has been reduced to zero;
(c) third, the portion of the Group V Senior Principal
Distribution Amount remaining after the distributions described
above, concurrently, until the Class V-A-2-L Principal Balance has
been reduced to zero:
(1) 12.0900230300% to the Class V-A-2-L
Certificates; and
(2) 87.9099769700% sequentially as follows:
A) first, until the Class V-A-1-L
Principal Balance has been reduced to zero,
concurrently:
(i) 27.7109294500% to the
Class V-A-1-L Certificates; and
(ii) 72.2890705500% to the
Class V-A-3-L Certificates; and
(B) second, to the Class V-A-3-L
Certificates, until the Class V-A-3-L Principal
Balance has been reduced to zero;
(d) fourth, to the Class V-A-7-L Certificates, the
portion of the Group V Senior Principal Distribution Amount
remaining after the distributions described above, until the
Class V-A-7-L Principal Balance has been reduced to zero;
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(e) fifth, to the Class V-A-4-L Certificates, the
portion of the Group V Senior Principal Distribution Amount
remaining after the distributions described above, until the
Class V-A-4-L Principal Balance has been reduced to zero; and
(f) sixth, to the Class V-A-9-L Certificates, the
portion of the Group V Senior Principal Distribution Amount
remaining after the distributions described above, until the
Class V-A-9-L Principal Balance has been reduced to zero;
(iv) fourth, to the Class V-B-1-L Certificates, the Interest
Distribution Amount for such Class of Certificates remaining unpaid from
previous Distribution Dates;
(v) fifth, to the Class V-B-1-L Certificates, the Interest
Distribution Amount for such Class of Certificates for the current
Distribution Date;
(vi) sixth, to the Class V-B-1-L Certificates, the portion of
the Group V Subordinate Principal Distribution Amount allocable to such
Class of Certificates pursuant to the definition of "Group V Subordinate
Principal Distribution Amount", until the Class V-B-1-L Principal
Balance has been reduced to zero;
(vii) seventh, to the Class V-B-2-L Certificates, the Interest
Distribution Amount for such Class of Certificates remaining unpaid from
previous Distribution Dates;
(viii) eighth, to the Class V-B-2-L Certificates, the Interest
Distribution Amount for such Class of Certificates for the current
Distribution Date;
(ix) ninth, to the Class V-B-2-L Certificates, the portion of
the Group V Subordinate Principal Distribution Amount allocable to such
Class of Certificates pursuant to the definition of "Group V Subordinate
Principal Distribution Amount", until the Class V-B-2-L Principal
Balance has been reduced to zero;
(x) tenth, to the Class V-B-3-L Certificates, the Interest
Distribution Amount for such Class of Certificates remaining unpaid from
previous Distribution Dates;
(xi) eleventh, to the Class V-B-3-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xii) twelfth, to the Class V-B-3-L Certificates, the portion
of the Group V Subordinate Principal Distribution Amount allocable to
such Class of Certificates pursuant to the definition of "Group V
Subordinate Principal Distribution Amount", until the Class V-B-3-L
Principal Balance has been reduced to zero;
(xiii) thirteenth, to the Class V-B-4-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xiv) fourteenth, to the Class V-B-4-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
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(xv) fifteenth, to the Class V-B-4-L Certificates, the
portion of the Group V Subordinate Principal Distribution Amount
allocable to such Class of Certificates pursuant to the definition of
"Group V Subordinate Principal Distribution Amount", until the Class
V-B-4-L Principal Balance has been reduced to zero;
(xvi) sixteenth, to the Class V-B-5-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xvii) seventeenth, to the Class V-B-5-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xviii) eighteenth, to the Class V-B-5-L Certificates, the
portion of the Group V Subordinate Principal Distribution Amount
allocable to such Class of Certificates pursuant to the definition of
"Group V Subordinate Principal Distribution Amount", until the Class
V-B-5-L Principal Balance has been reduced to zero;
(xix) nineteenth, to the Class V-B-6-L Certificates, the
Interest Distribution Amount for such Class of Certificates remaining
unpaid from previous Distribution Dates;
(xx) twentieth, to the Class V-B-6-L Certificates, the
Interest Distribution Amount for such Class of Certificates for the
current Distribution Date;
(xxi) twenty-first, to the Class V-B-6-L Certificates, the
portion of the Group V Subordinate Principal Distribution Amount
allocable to such Class of Certificates pursuant to the definition of
"Group V Subordinate Principal Distribution Amount", until the Class
V-B-6-L Principal Balance has been reduced to zero;
(xxii) twenty-second, to each Class of Group V-B-L Certificates
in the order of seniority, the remaining portion, if any, of the
Mortgage Trust Available Distribution Amount for Loan Group V, 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)(e)(xxii) of this definition of
"Mortgage Trust Certificate Distribution Amount" shall not cause a
further reduction in the Class Principal Balances of the Group V-B-L
Certificates; and
(xxiii) twenty-third, to the Class R-1 Certificates, the
Residual Distribution Amount for Loan Group V for such Distribution Date;
(II) For any Distribution Date on or after the Group I, Group II,
Group III, Group IV or Group V Credit Support Depletion Date, as applicable,
the Mortgage Trust 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 Group I-L and Class R-1 Certificates and
Component II-A-1-5-L of the Class II-A-1-L Certificates, on any Distribution
Date on or after the Group I Credit Support Depletion Date, to the extent of
the Mortgage Trust Available Distribution Amount for Loan Group I remaining
following prior distributions, if any, on such Distribution Date:
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(i) First, to the Class I-P-L 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
"Mortgage Trust Certificate Distribution Amount";
(ii) Second, to the Group I-A-L, Class I-X-L and Class R-1
Certificates and to Component II-A-1-5-L, 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 "Mortgage Trust
Certificate Distribution Amount," and remaining unpaid, pro rata
according to such amount payable to the extent of amounts available;
(iii) Third, to the Group I-A-L, Class I-X-L and Class R-1
Certificates and to Component II-A-1-5-L 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 Group I-A-L and Class R-1 Certificates
and to Component II-A-1-5-L, the Group I 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
(v) Fifth, to the Class R-1 Certificates, the Residual
Distribution Amount for Loan Group I for such Distribution Date;
(b) With respect to the Group II-L and Class R-1 Certificates, on any
Distribution Date on or after the Group II Credit Support Depletion Date, to
the extent of the Mortgage Trust Available Distribution Amount for Loan Group
II remaining following prior distributions, if any, on such Distribution Date:
(i) First, to Component II-A-1-4-L, principal in the amount
that would otherwise be distributed to such Component on such
Distribution Date pursuant to clause (I)(b)(i) of this definition of
"Mortgage Trust Certificate Distribution Amount";
(ii) Second, to the Group II-A-L (other than Component
II-A-1-1-L, Component II-A-1-4-L and Component II-A-1-5-L of the Class
II-A-1-L Certificates) and Class II-X-L Certificates, 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 "Mortgage Trust 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-L (other than Component
II-A-1-1-L, Component II-A-1-4-L and Component II-A-1-5-L of the Class
II-A-1-L Certificates) and Class II-X-L 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-L Certificates (other than
Component II-A-1-4-L, Component II-A-1-5-L and Component II-A-1-6-L of
the Class II-A-1-L Certificates),
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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
(v) Fifth, to the Class R-1 Certificates, the Residual
Distribution Amount for Loan Group II for such Distribution Date; and
(c) With respect to the Group III-L and Class R-1 Certificates, on any
Distribution Date on or after the Group III Credit Support Depletion Date, to
the extent of the Mortgage Trust Available Distribution Amount for Loan Group
III remaining following prior distributions, if any, on such Distribution
Date:
(i) First, to the Class III-P-L 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
"Mortgage Trust Certificate Distribution Amount";
(ii) Second, to the Class III-A-1-L and Class III-X-L
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 "Mortgage Trust 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-A-1-L Certificates, the Interest
Distribution Amount for such Class of Certificates for the current
Distribution Date;
(iv) Fourth, to the Class III-A-1-L Certificates, the Group
III Senior Principal Distribution Amount until the Class III-A-1-L
Principal Balance has been reduced to zero; and
(v) Fifth, to the Class R-1 Certificates, the Residual
Distribution Amount for Loan Group III for such Distribution Date.
(d) With respect to the Group IV-L and Class R-1 Certificates, on
any Distribution Date on or after the Group IV Credit Support Depletion Date,
to the extent of the Mortgage Trust Available Distribution Amount for Loan
Group IV remaining following prior distributions, if any, on such
Distribution Date:
(i) First, to the Class IV-P-L Certificates, principal in
the amount that would otherwise be distributed to such Class on such
Distribution Date pursuant to clause (I)(d)(i) of this definition of
"Mortgage Trust Certificate Distribution Amount";
(ii) Second, to the Class IV-A-1-L and Class IV-X-L
Certificates, the amount payable to each such Class of Certificates on
prior Distribution Dates pursuant to clause (I)(d)(ii) or (II)(d)(iii)
of this definition of "Mortgage Trust Certificate Distribution Amount,"
and remaining unpaid, pro rata according to such amount payable to the
extent of amounts available;
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(iii) Third, to the Class IV-A-1-L and Class IV-X-L
Certificates, the Interest Distribution Amount for such Class of
Certificates for the current Distribution Date;
(iv) Fourth, to the Class IV-A-1-L Certificates, the Group IV
Senior Principal Distribution Amount until the Class IV-A-1-L Principal
Balance has been reduced to zero; and
(v) Fifth, to the Class R-1 Certificates, the Residual
Distribution Amount for Loan Group IV for such Distribution Date.
(e) With respect to the Group V-L and Class R-1 Certificates, on any
Distribution Date on or after the Group V Credit Support Depletion Date, to
the extent of the Mortgage Trust Available Distribution Amount for Loan Group V
remaining following prior distributions, if any, on such Distribution Date:
(i) First, to the Group V-A-L Certificates, the amount
payable to each such Class of Certificates on prior Distribution
Dates pursuant to clause (I)(e)(i) or (II)(e)(ii) of this definition of
"Mortgage Trust Certificate Distribution Amount," and remaining
unpaid, pro rata according to such amount payable to the extent of
amounts available;
(ii) Second, to the Class V-A-L Certificates, the Interest
Distribution Amount for each such Class of Certificates for the current
Distribution Date;
(iii) Third, to the Group Class V-A-L Certificates, the Group V
Senior Principal Distribution Amount until the Class Principal Balances
of such Certificates have been reduced to zero; and
(iv) Fourth, to the Class R-1 Certificates, the Residual
Distribution Amount for Loan Group V for such Distribution Date.
MORTGAGE TRUST CERTIFICATES: The Group I-L, Group II-L, Group III-L,
Group IV-L, Group V-L and Class R-L Certificates issued pursuant to this
Agreement.
MORTGAGE TRUST FUND: The corpus of the trust created pursuant to Section
2.01 of this Agreement. The Mortgage Trust Fund consists of (i) the Mortgage
Loans (other than the Group V Loans) and all rights pertaining thereto; (ii)
the portion of such assets as from time to time may be held by the Trustee
(or its duly appointed agent) in the Certificate Account or the Investment
Account (except amounts representing the Master Servicing Fee or the
Servicing Fee) as they relate to the Mortgage Loans other than the Group V
Loans; (iii) such assets as from time to time may be held by Servicers in a
Custodial Account for P&I or Custodial Account for Reserves related to the
Mortgage Loans (other than the Group V Loans and except amounts representing
the Master Servicing Fee or the Servicing Fee); (iv) property which secured a
Mortgage Loan (other than a Group V 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 conversion, after the Cut-Off Date; (v) amounts paid
or payable by the insurer under any FHA insurance policy or any Primary
Insurance Policy and proceeds of any VA guaranty and any other insurance
policy related to any Mortgage Loan (other than the Group V Loans) or the
Mortgage Pool (other than the portion
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thereof relating to the Group V loans); and (vi) the Group V Trust
Certificates. The Reserve Fund shall not be an asset of the Mortgage Trust
Fund.
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.
OTS: The Office of Thrift Supervision, or any successor thereto.
OFFICER'S CERTIFICATE: A certificate signed by the Chairman of the
Board, the President, a Vice President, or the Treasurer of the Master
Servicer and delivered to the Trustee.
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, the Master Servicing Fee and the
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.
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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).
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 February 14, 1998, 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 Certificate (other than the
Residual, Class X, Class X-L, Class II-A-2, Class II-A-11, Class V-A-5,
Class V-A-6, Class V-A-7 and Class V-A-8 Certificates), its Certificate
Principal Balance divided by the applicable Class Principal Balance or,
with respect to any Class II-A-1 or Class II-A-1-L Certificate if the
Class Principal Balance for such Class has been reduced to zero but the
Component II-A-1-3 Notional Amount or Component II-A-1-6 Notional Amount
is greater than zero, its Certificate Principal Balance immediately
prior to the Distribution Date on which such Class Principal Balance was
reduced to zero divided by the Class Principal Balance for such Class as
of such time;
(ii) with respect to the Class X, Class X-L, Class II-A-2,
Class II-A-11, Class V-A-5, Class V-A-6, Class V-A-7, Class V-A-8 and
Class V-B-IO Certificates, the portion of the respective Class Notional
Amount evidenced by such Certificate divided by the respective Class
Notional Amount; and
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(iii) with respect to the Residual 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 Certificate Trust Fund, which for purposes of such
rights only shall equal:
(i) if the Class II-A-1 Principal Balance is greater than
zero or the Class II-A-1 Principal Balance and both of the Component
II-A-1-3 Notional Amount and Component II-A-1-6 Notional Amount have
been reduced to zero,
(a) with respect to any Certificate (other than the
Class X, Class II-A-2, Class II-A-11, Class V-A-5, Class V-A-6,
Class V-A-8 and Class V-B-IO Certificates), the product of (x)
ninety percent (90%) and (y) the percentage calculated by
dividing its Certificate Principal Balance by the Aggregate
Certificate Principal Balance of the Certificate Trust
Certificates; provided, however, that the percentage in (x)
above shall be increased by one percent (1%) upon each
retirement of the Certificates referenced in the parenthetical
above; and
(b) with respect to any of the Class X, Class
II-A-2, Class II-A-11, Class V-A-5, Class V-A-6, Class V-A-8 and
Class V-B-IO Certificates, one percent (1%) of such
Certificate's Percentage Interest as calculated by paragraph
(a)(ii) of this definition;
(c) with respect to the Class R Certificates, zero;
and
(ii) if the Class II-A-1 Principal Balance has been reduced
to zero but the Component II-A-1-3 Notional Amount or Component II-A-1-6
Notional Amount is greater than zero,
(a) with respect to any Certificate (other than the
Class X, Class II-A-1, Class II-A-2, Class II-A-11, Class V-A-5,
Class V-A-6, Class V-A-8 and Class V-B-IO Certificates), the
product of (x) eighty-nine percent (89%) and (y) the percentage
calculated by dividing its Certificate Principal Balance by the
Aggregate Certificate Principal Balance of the Certificate Trust
Certificates; provided, however, that the percentage in (x)
above shall be increased by one percent (1%) upon each
retirement of the Certificates referenced in the parenthetical
above;
(b) with respect to any Class X, Class II-A-1, Class
II-A-2, Class II-A-11, Class V-A-5, Class V-A-6, Class V-A-7,
Class V-A-8 and Class V-B-IO Certificates, one percent (1%) of
such Certificate's Percentage Interest as calculated by
paragraph (a)(ii) of this definition; and
(c) with respect to the Class R Certificates, zero.
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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 Group V Trust Fund, the Mortgage
Trust Fund or the Certificate Trust Fund, as applicable, 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 P, for the applicable Distribution Date, for each of the
Class II-A-5-L, Class II-A-6-L, Class II-A-8-L, Class II-A-9-L and Class
II-A-10-L Certificates, as applicable.
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
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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.
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 Mortgage Trust Fund or Group V
Trust Fund, as applicable, 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 interest and principal
portions of Realized Losses relating to a Mortgage Loan in a given Loan Group
among or between specified Classes of Mortgage Trust Certificates (or
Components of the Mortgage Trust Certificates) in the related Certificate
Group as follows: (a) the principal portion of such losses to the outstanding
Classes of Mortgage Trust Certificates in the related Certificate Group (or
Components of the Mortgage Trust Certificates, in the case of the Class
II-A-1-1-L Certificates) other than the Class P-L
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Certificates and Component II-A-1-4-L of the Class II-A-1-L Certificates, pro
rata according to their respective Class Principal Balances (or Component
Principal Balances, in the case of Components of the Class II-A-1-1-L
Certificates), in reduction of their respective Class Principal Balances 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 related Class P-L Certificates or
Component II-A-1-4-L, as applicable, and then the remainder of such loss will
be allocated as described above to the other outstanding Classes of Mortgage
Trust Certificates (or Components thereof) in the related Certificate Group;
and for the interest portion of such losses, pro rata according to the amount
of interest accrued on each such Class of Mortgage Trust Certificates (or
each Component thereof, in the case of the Class II-A-1-L Certificates),
other than the Class P-L Certificates and Component II-A-1-4-L of the Class
II-A-1-L Certificates, in reduction thereof, and then pro rata according to
the respective Class Principal Balances (or Component Principal Balances, as
the case may be) of each such Class or Component of Mortgage Trust
Certificates in the related Certificate Group in reduction of their
respective Class Principal Balances or Component Principal Balances;
provided, however, that for purposes of the above allocations of the interest
and principal portion of Realized Losses, Component II-A-1-5-L of the Class
II-A-1-L Certificates shall be treated as part of the Group I Certificates.
Any losses allocated among all Classes of Mortgage Trust Certificates
pursuant to this definition of "Pro Rata Allocation" shall also be allocated
to the Corresponding Class of Certificate Trust Certificates in the same
manner and amounts as they reduce such attributes of the Corresponding Class
of Mortgage Trust Certificates; provided, however, that the interest portion
of such losses allocated (i) to the Class V-A-4-L and Class V-A-9-L
Certificates and applied to reduce the Interest Distribution Amount thereof
shall be allocated to the Class V-A-4 and Class V-A-6 Certificates in
reduction of the distribution to such Certificates pursuant to clause (e)(v)
of the definition of "Certificate Trust Certificate Distribution Amount," pro
rata according to the allocation set forth in such definition, (ii) to the
Class V-A-1-L, Class V-A-2-L and Class V-A-3-L Certificates and applied to
reduce the Interest Distribution Amount thereof shall be allocated to the
Class V-A-1, Class V-A-2, Class V-A-3, Class V-A-5 and Class V-A-8
Certificates in reduction of the distribution to such Certificates pursuant
to clause (e)(iii) of the definition of "Certificate Trust Certificate
Distribution Amount," pro rata according to the allocation set forth in such
definition, (iii) to the Class II-A-5-L, Class II-A-6-L, Class II-A-8-L,
Class II-A-9-L and Class II-A-10-L Certificates and applied to reduce the
Interest Distribution Amount thereof shall be allocated to the Class II-A-2,
Class II-A-5, Class II-A-6, Class II-A-8, Class II-A-9, Class II-A-10 and
Class II-A-11 Certificates and Component II-A-1-3 of the Class II-A-1
Certificates in reduction of the distribution to such Certificates pursuant
to clause (b)(ii) of the definition of "Certificate Trust Certificate
Distribution Amount," pro rata according to the allocation set forth in such
definition, (iv) to the Class V-B-1-L Certificates and applied to reduce the
Interest Distribution Amount thereof shall be allocated to the Class V-B-1
and Class V-B-IO Certificates in reduction of the distribution to such
Certificates pursuant to clause (e)(iv) of the definition of "Certificate
Trust Certificate Distribution Amount," pro rata according to the allocation
set forth in such definition, (v) to the Class V-B-2-L Certificates and
applied to reduce the Interest Distribution Amount thereof shall be allocated
to the Class V-B-2 and Class V-B-IO Certificates in reduction of the
distribution to such Certificates pursuant to clause (e)(iv) of the
definition of "Certificate Trust Certificate Distribution Amount," pro rata
according to the allocation set forth in such definition, and (vi) to the
Class V-B-3-L Certificates and applied to
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reduce the Interest Distribution Amount thereof shall be allocated to the
Class V-B-3 and Class V-B-IO Certificates in reduction of the distribution to
such Certificates pursuant to clause (e)(iv) of the definition of
"Certificate Trust Certificate Distribution Amount," pro rata according to
the allocation set forth in such definition.
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 Agencies.
RATING AGENCY: Initially, each of S&P and Fitch and DCR, thereafter,
each nationally recognized statistical rating organization that has rated the
Certificate Trust Certificates and Residual 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
Certificate Trust Certificates and the Residual Certificates as assigned by
the Rating Agencies.
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.
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Realized Losses, Special Hazard Losses, Fraud Losses and Bankruptcy
Losses on the Group V Loans shall be allocated to the Group V Trust
Certificates as follows: the interest portion of such losses shall be
allocated to the Group V Trust Certificates pro rata according to the amount
of interest accrued but unpaid thereon, in reduction thereof, and then in
reduction of the Principal Balance of the Group V Trust Certificates; and the
principal portion of such losses shall be allocated to the Group V Trust
Certificates pro rata according to the Class Principal Balances of the Group
V Trust Certificates in reduction thereof.
Realized Losses, Special Hazard Losses, Fraud Losses and Bankruptcy
Losses allocated to any Class of Mortgage Trust Certificates shall also be
allocated to the Corresponding Class of Certificate Trust Certificates and
applied to reduce the Class Principal Balance for such Class of Certificate
Trust Certificates in the same manner and amounts as they reduce such
attributes of the Corresponding Class of Mortgage Trust Certificates;
provided, however, that the allocation of the interest portion of such losses
is subject to the proviso contained in the definition of "Pro Rata
Allocation" herein.
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-L and Class R-1
Certificates and Component II-A-1-5-L of the Class II-A-1-L Certificates (i)
for Realized Losses allocable to principal (a) first, to the Class I-B-6-L
Certificates, until the Class I-B-6-L Principal Balance has been reduced to
zero, (b) second, to the Class I-B-5-L Certificates, until the Class I-B-5-L
Principal Balance has been reduced to zero, (c) third, to the Class I-B-4-L
Certificates, until the Class I-B-4-L Principal Balance has been reduced to
zero, (d) fourth, to the Class I-B-3-L Certificates, until the Class I-B-3-L
Principal Balance has been reduced to zero, (e) fifth, to the Class I-B-2-L
Certificates, until the Class I-B-2-L Principal Balance has been reduced to
zero, (f) sixth, to the Class I-B-1-L Certificates, until the Class I-B-1-L
Principal Balance has been reduced to zero and (g) seventh, to the Group
I-A-L Certificates, the Class R-1 Certificates and Component II-A-1-5-L of
the Class II-A-1-L Certificates, pro rata, according to their Class Principal
Balances (or Component Principal Balances) in reduction of their respective
Class or Component Principal Balances, as applicable; 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-L
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-L Certificates, in reduction of accrued but
unpaid interest thereon and then in reduction of the Class I-B-6-L Principal
Balance, (b) second, to the Class I-B-5-L Certificates, in reduction of
accrued but unpaid interest thereon and then in reduction of the Class
I-B-5-L Principal Balance, (c) third, to the Class I-B-4-L Certificates, in
reduction of accrued but unpaid interest thereon and then in reduction of the
Class I-B-4-L Principal Balance, (d) fourth, to the Class I-B-3-L
Certificates, in reduction of accrued but unpaid interest thereon and then in
reduction of the Class I-B-3-L Principal Balance, (e) fifth, to the Class
I-B-2-L Certificates, in reduction of accrued but unpaid interest thereon and
then in reduction of the Class I-B-2-L Principal Balance, (f) sixth, to the
Class I-B-1-L Certificates, in reduction of accrued but unpaid interest
thereon and then in reduction of the Class I-B-1-L Principal Balance, and (g)
seventh, to the Group I-A-L, Class R-1 and Class I-X-L Certificates and
Component II-A-1-5-L pro rata according to accrued but unpaid interest on
such Classes or Component of Certificates and then in
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reduction of the Principal Balance of the Group I-A-L and Class R-1
Certificates and the Component II-A-1-5-L 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-L
Certificates (other than with respect to the Class II-A-1-L Certificates,
Component II-A-1-5-L thereof) (i) for Realized Losses allocable to principal
(a) first, to the Class II-B-6-L Certificates, until the Class II-B-6-L
Principal Balance has been reduced to zero, (b) second, to the Class II-B-5-L
Certificates, until the Class II-B-5-L Principal Balance has been reduced to
zero, (c) third, to the Class II-B-4-L Certificates, until the Class II-B-4-L
Principal Balance has been reduced to zero, (d) fourth, to the Class II-B-3-L
Certificates, until the Class II-B-3-L Principal Balance has been reduced to
zero, (e) fifth, to the Class II-B-2-L Certificates, until the Class II-B-2-L
Principal Balance has been reduced to zero, (f) sixth, to the Class II-B-1-L
Certificates, until the Class II-B-1-L Principal Balance has been reduced to
zero, and (g) seventh, to the Group II-A-L Certificates (and the Components
of the Class II-A-1-L Certificates other than Component II-A-1-4-L, Component
II-A-1-5-L and Component II-A-1-6-L) pro rata, according to their Class
Principal Balances (or Component Principal Balances) in reduction of their
respective Class or Component Principal Balances, as applicable; provided,
however, that if the loss is recognized with respect to a II-PO Mortgage
Loan, the II-PO Fraction of such loss will first be allocated to Component
II-A-1-4-L 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 II-B-6-L Certificates, in reduction of accrued but
unpaid interest thereon and then in reduction of the Class II-B-6-L Principal
Balance, (b) second, to the Class II-B-5-L Certificates, in reduction of
accrued but unpaid interest thereon and then in reduction of the Class
II-B-5-L Principal Balance, (c) third, to the Class II-B-4-L Certificates, in
reduction of accrued but unpaid interest thereon and then in reduction of the
Class II-B-4-L Principal Balance, (d) fourth, to the Class II-B-3-L
Certificates, in reduction of accrued but unpaid interest thereon and then in
reduction of the Class II-B-3-L Principal Balance, (e) fifth, to the Class
II-B-2-L Certificates, in reduction of accrued but unpaid interest thereon
and then in reduction of the Class II-B-2-L Principal Balance, (f) sixth, to
the Class II-B-1-L Certificates, in reduction of accrued but unpaid interest
thereon and then in reduction of the Class II-B-1-L Principal Balance, and
(g) seventh, to the Group II-A-L and Class II-X Certificates pro rata
according to accrued but unpaid interest on such Classes of Certificates (and
the Components of the Class II-A-1-L Certificates other than Component
II-A-1-5-L, Component II-A-1-1-L and Component II-A-1-4-L) and then pro rata
according to their respective Class Principal Balances (or Component
Principal Balances, as applicable) in reduction thereof.
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-L
Certificates (i) for Realized Losses allocable to principal (a) first, to the
Class III-B-6-L Certificates, until the Class III-B-6-L Principal Balance has
been reduced to zero, (b) second, to the Class III-B-5-L Certificates, until
the Class III-B-5-L Principal Balance has been reduced to zero, (c) third, to
the Class III-B-4-L Certificates, until the Class III-B-4-L Principal Balance
has been reduced to zero, (d) fourth, to the Class III-B-3-L Certificates,
until
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the Class III-B-3-L Principal Balance has been reduced to zero, (e) fifth, to
the Class III-B-2-L Certificates, until the Class III-B-2-L Principal Balance
has been reduced to zero, (f) sixth, to the Class III-B-1-L Certificates,
until the Class III-B-1-L Principal Balance has been reduced to zero, and (g)
seventh, to the Class III-A-1-L 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-L 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-L Certificates, in
reduction of accrued but unpaid interest thereon and then in reduction of the
Class III-B-6-L Principal Balance, (b) second, to the Class III-B-5-L
Certificates, in reduction of accrued but unpaid interest thereon and then in
reduction of the Class III-B-5-L Principal Balance, (c) third, to the Class
III-B-4-L Certificates, in reduction of accrued but unpaid interest thereon
and then in reduction of the Class III-B-4-L Principal Balance, (d) fourth,
to the Class III-B-3-L Certificates, in reduction of accrued but unpaid
interest thereon and then in reduction of the Class III-B-3-L Principal
Balance, (e) fifth, to the Class III-B-2-L Certificates, in reduction of
accrued but unpaid interest thereon and then in reduction of the Class
III-B-2-L Principal Balance, (f) sixth, to the Class III-B-1-L Certificates,
in reduction of accrued but unpaid interest thereon and then in reduction of
the Class III-B-1-L Principal Balance, and (g) seventh, to the Class
III-A-1-L and Class III-X-L Certificates pro rata according to accrued but
unpaid interest on such Classes of Certificates and then in reduction of the
Class III-A-1-L Principal Balance.
Except for Special Hazard Losses in excess of Group IV Special Hazard
Coverage, Fraud Losses in excess of Group IV Fraud Coverage and Bankruptcy
Losses in excess of Group IV Bankruptcy Coverage, Realized Losses with
respect to the Group IV Loans shall be allocated among the Group IV-L
Certificates (i) for Realized Losses allocable to principal (a) first, to the
Class IV-B-6-L Certificates, until the Class IV-B-6-L Principal Balance has
been reduced to zero, (b) second, to the Class IV-B-5-L Certificates, until
the Class IV-B-5-L Principal Balance has been reduced to zero, (c) third, to
the Class IV-B-4-L Certificates, until the Class IV-B-4-L Principal Balance
has been reduced to zero, (d) fourth, to the Class IV-B-3-L Certificates,
until the Class IV-B-3-L Principal Balance has been reduced to zero, (e)
fifth, to the Class IV-B-2-L Certificates, until the Class IV-B-2-L Principal
Balance has been reduced to zero, (f) sixth, to the Class IV-B-1-L
Certificates, until the Class IV-B-1-L Principal Balance has been reduced to
zero, and (g) seventh, to the Class IV-A-1-L Certificates in reduction
thereof; provided, however, that if the loss is recognized with respect to a
Class IV-P Mortgage Loan, the Class IV-P Fraction of such loss will first be
allocated to the Class IV-P-L 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 IV-B-6-L
Certificates, in reduction of accrued but unpaid interest thereon and then in
reduction of the Class IV-B-6-L Principal Balance, (b) second, to the Class
IV-B-5-L Certificates, in reduction of accrued but unpaid interest thereon
and then in reduction of the Class IV-B-5-L Principal Balance, (c) third, to
the Class IV-B-4-L Certificates, in reduction of accrued but unpaid interest
thereon and then in reduction of the Class IV-B-4-L Principal Balance, (d)
fourth, to the Class IV-B-3-L Certificates, in reduction of accrued but
unpaid interest thereon and then in reduction of the Class IV-B-3-L Principal
Balance, (e) fifth, to the Class IV-B-2-L Certificates, in reduction of
accrued but unpaid interest thereon and then in reduction of the Class
IV-B-2-L Principal Balance, (f) sixth, to the Class IV-B-1-L Certificates, in
reduction of accrued
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but unpaid interest thereon and then in reduction of the Class IV-B-1-L
Principal Balance, and (g) seventh, to the Class IV-A-1-L and Class IV-X-L
Certificates pro rata according to accrued but unpaid interest on such
Classes of Certificates and then in reduction of the Class IV-A-1-L Principal
Balance.
Except for Special Hazard Losses in excess of Group V Special Hazard
Coverage, Fraud Losses in excess of Group V Fraud Coverage and Bankruptcy
Losses in excess of Group V Bankruptcy Coverage, Realized Losses with respect
to the Group V Loans shall be allocated among the Group V-L Certificates (i)
for Realized Losses allocable to principal (a) first, to the Class V-B-6-L
Certificates, until the Class V-B-6-L Principal Balance has been reduced to
zero, (b) second, to the Class V-B-5-L Certificates, until the Class V-B-5-L
Principal Balance has been reduced to zero, (c) third, to the Class V-B-4-L
Certificates, until the Class V-B-4-L Principal Balance has been reduced to
zero, (d) fourth, to the Class V-B-3-L Certificates, until the Class V-B-3-L
Principal Balance has been reduced to zero, (e) fifth, to the Class V-B-2-L
Certificates, until the Class V-B-2-L Principal Balance has been reduced to
zero, (f) sixth, to the Class V-B-1-L Certificates, until the Class V-B-1-L
Principal Balance has been reduced to zero, (g) seventh, to the Class V-A-9-L
Certificates, until the Class V-A-9-L Principal Balance has been reduced to
zero and (h) eighth, to the Group V-A-L Certificates (other than the Class
V-A-9-L Certificates) pro rata, according to their Class Principal Balances
in reduction of their respective Class Principal Balances; and (ii) for
Realized Losses allocable to interest (a) first, to the Class V-B-6-L
Certificates, in reduction of accrued but unpaid interest thereon and then in
reduction of the Class V-B-6-L Principal Balance, (b) second, to the Class
V-B-5-L Certificates, in reduction of accrued but unpaid interest thereon and
then in reduction of the Class V-B-5-L Principal Balance, (c) third, to the
Class V-B-4-L Certificates, in reduction of accrued but unpaid interest
thereon and then in reduction of the Class V-B-4-L Principal Balance, (d)
fourth, to the Class V-B-3-L Certificates, in reduction of accrued but unpaid
interest thereon and then in reduction of the Class V-B-3-L Principal
Balance, (e) fifth, to the Class V-B-2-L Certificates, in reduction of
accrued but unpaid interest thereon and then in reduction of the Class
V-B-2-L Principal Balance, (f) sixth, to the Class V-B-1-L Certificates, in
reduction of accrued but unpaid interest thereon and then in reduction of the
Class V-B-1-L Principal Balance, (g) seventh, to the Class V-A-9-L
Certificates in reduction of accrued but unpaid interest thereon and then in
reduction of the Class V-A-9-L Principal Balance and (h) eighth, to the Group
V-A-L Certificates (other than the Class V-A-9-L Certificates) pro rata
according to accrued but unpaid interest on such Classes of Certificates and
then in reduction of the Principal Balances of the Group V-A-L Certificates
(other than the Class V-A-9-L Certificates).
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-L 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-L Certificates by
Pro Rata Allocation.
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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 Group III Loans in excess of the Group III
Bankruptcy Coverage shall be allocated among the Group III-L Certificates by
Pro Rata Allocation.
Special Hazard Losses on Group IV Loans in excess of the Special Hazard
Coverage, Fraud Losses on Group IV Loans in excess of the Group IV Fraud
Coverage, and Bankruptcy Losses on Group IV Loans in excess of the Group IV
Bankruptcy Coverage shall be allocated among the Group IV-L Certificates by
Pro Rata Allocation.
Special Hazard Losses on Group V Loans in excess of the Special Hazard
Coverage, Fraud Losses on Group V Loans in excess of the Group V Fraud
Coverage, and Bankruptcy Losses on Group V Loans in excess of the Group V
Bankruptcy Coverage shall be allocated among the Group V-L 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-L and the Class R-1 Certificates and
Component II-A-1-5-L Principal Balance 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 Mortgage Trust
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-L Certificates, in reduction of the Class Principal Balances
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-L Certificates (other than Component
II-A-1-5-L of the Class II-A-1-L 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
Mortgage Trust 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-L Certificates, in reduction of the Class
Principal Balances 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-L 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
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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 Mortgage Trust 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-L Certificates, in
reduction of the Class Principal Balances 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 IV-L Certificates exceeds the aggregate
principal balance of the Group IV 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
Mortgage Trust Available Distribution Amount for Loan Group IV, 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 IV-B-L Certificates, in reduction of the Class
Principal Balances 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 V-L Certificates exceeds the aggregate
principal balance of the Group V 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
Mortgage Trust Available Distribution Amount for Loan Group V, 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 V-B-L Certificates, in reduction of the Class Principal
Balances 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
Company from time to time for the purpose of providing quotations for
one-month United States dollar-denominated deposits.
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REGULAR INTEREST CERTIFICATES: (i) With respect to the Group V Trust
Fund, the Group V Trust Certificates, (ii) with respect to the Mortgage Trust
Fund, the Mortgage Trust Certificates, and (ii) with respect to the
Certificate Trust Fund, the Certificate Trust 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-1 and Class II-A-1-L Certificates, the per annum rate set forth
as the Remittance Rate for such Class or Component in the Preliminary
Statement hereto.
RESERVE FUND: The separate trust account maintained by the Certificate
Administrator and held by the Trustee, which account shall bear a designation
clearly indicating that the funds deposited therein are held in trust for the
benefit of the Trustee on behalf of the Class V-A-7 Certificateholders, or
any other account serving a similar function acceptable to the Rating
Agencies and the Trustee, and which account provides that the Trustee may
make, or cause to be made, withdrawals with respect to Covered Losses
allocable to the Class V-A-7 Certificates on a Distribution Date, to the
extent of the amount then remaining in the Reserve Fund.
RESERVE FUND INITIAL AMOUNT: $28,000.00.
RESIDUAL CERTIFICATES: (i) With respect to the Group V Trust Fund, the
Class R-2 Certificates, which are being issued in a single class, (i) with
respect to the Mortgage Trust Fund, the Class R-1 Certificates, which are
being issued in a single class, and (ii) with respect to the Certificate
Trust Fund, the Class R Certificates, which are being issued in a single
class. The Class R, Class R-1 and Class R-2 Certificates are hereby
designated the sole Class of "residual interests" in the REMIC related to the
Certificate Trust Fund, the Mortgage Trust Fund and the Group V Trust Fund,
respectively, for purposes of Section 860G(a)(2) of the Code.
RESIDUAL DISTRIBUTION AMOUNT: On any Distribution Date, with respect to
the Class R-2 Certificates, any portion of the Group V Trust Available
Distribution Amount remaining after all distributions to the Group V Trust
Certificates and Class R-2 Certificates, or with respect to the Class R-1
Certificates, any portion of the Mortgage Trust Available Distribution Amount
remaining after all distributions to the Mortgage Trust Certificates and
Class R-1 Certificates, or, with respect to the Class R Certificates, any
portion of the Certificate Trust Available Distribution Amount remaining
after all distributions to the Certificate Trust Certificates and Class R
Certificates. Upon termination of the obligations created by this Agreement
and the Mortgage Trust Fund, the Group V Trust Fund and Certificate Trust
Fund created hereby, the amounts which remain on deposit in the Certificate
Account after payment to the Holders of the Mortgage Trust Certificates and
Group V Trust Certificates of the amounts set forth in Section 9.01 of this
Agreement, and subject to the conditions set forth therein, shall be
distributed to the Class R-1 and Class R-2 Certificates in accordance with
the preceding sentence of this definition as if the date of such distribution
were a Distribution Date.
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RESPONSIBLE OFFICER: When used with respect to the Trustee, any officer
assigned to and working in its Corporate Trust Department or similar group
and also, with respect to a particular matter, any other officer to whom such
matter is referred because of such officer's knowledge of and familiarity
with the particular subject.
S&P: Standard & Poor's Ratings Services, a division of The McGraw-Hill
Companies, Inc., provided that at any time it be a Rating Agency.
SECURITIES ACT: The Securities Act of 1933, as amended.
SECURITY AGREEMENT: With respect to a Cooperative Loan, the agreement or
mortgage creating a security interest in favor of the originator of the
Cooperative Loan in the related Cooperative Stock.
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: With respect to the Mortgage Trust Certificates,
the Group I-L Senior Certificates, the Group II-L Senior Certificates, the
Group III-L Senior Certificates, the Group IV-L Senior Certificates, the
Group V-A-L Certificates and the Class R-1 Certificates, collectively. With
respect to the Certificate Trust Certificates, the Group I Senior
Certificates, the Group II Senior Certificates, the Group III Senior
Certificates, the Group IV Senior Certificates, the Group V-A Certificates
and the Class R Certificates, collectively.
SENIOR SUBORDINATE CERTIFICATES: The Subordinate Certificates other
than the Junior Subordinate Certificates.
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.
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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 Agencies that such reduction will not adversely affect the then
current ratings assigned to the Certificates by the Rating Agencies.
SPECIAL HAZARD COVERAGE INITIAL AMOUNT: With respect to Loan Group I,
$4,820,797, with respect to Loan Group II, $4,036,105, with respect to Loan
Group III, $1,285,005, with respect to Loan Group IV, $1,500,985 and with
respect to Loan Group V, $3,811,158.
SPECIAL HAZARD LOSS: The occurrence of any direct physical loss or
damage to a Mortgaged Property not covered by a standard hazard maintenance
policy with extended coverage which is caused by or results from any cause
except: (i) fire, lightning, windstorm, hail, explosion, riot, riot attending
a strike, civil commotion, vandalism, aircraft, vehicles, smoke, sprinkler
leakage, except to the extent of that portion of the loss which was uninsured
because of the application of a co-insurance clause of any insurance policy
covering these perils; (ii) normal wear and tear, gradual deterioration,
inherent vice or inadequate maintenance of all or part thereof; (iii) errors
in design, faulty workmanship or materials, unless the collapse of the
property or a part thereof ensues and then only for the ensuing loss; (iv)
nuclear reaction or nuclear radiation or radioactive contamination, all
whether controlled or uncontrolled and whether such loss be direct or
indirect, proximate or remote or be in whole or in part caused by,
contributed to or aggravated by a peril covered by this definition of Special
Hazard Loss; (v) hostile or warlike action in time of peace or war, including
action in hindering, combating or defending against an actual, impending or
expected attack (a) by any government of sovereign power (de jure or de
facto), or by an authority maintaining or using military, naval or air
forces, (b) by military, naval or air forces, or (c) by an agent of any such
government, power, authority or forces; (vi) any
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weapon of war employing atomic fission or radioactive force whether in time
of peace or war; (vii) insurrection, rebellion, revolution, civil war,
usurped power or action taken by governmental authority in hindering,
combating or defending against such occurrence; or (viii) seizure or
destruction under quarantine or customs regulations, or confiscation by order
of any government or public authority.
STEP DOWN PERCENTAGE: For any Distribution Date, the percentage
indicated below:
<TABLE>
<CAPTION>
Distribution Date Occurring In Step Down Percentage
------------------------------ --------------------
<S> <C>
February 1998 through January 2003 0%
February 2003 through January 2004 30%
February 2004 through January 2005 40%
February 2005 through January 2006 60%
February 2006 through January 2007 80%
February 2007 and thereafter 100%
</TABLE>
STRIPPED INTEREST RATE: For each Group I Loan, Group II Loan or Group
III Loan, the excess, if any, of the Pass-Through Rate for such Mortgage Loan
over 7.000% and for each Group IV Loan, the excess, if any, of the
Pass-Through Rate for such Mortgage Loan over 6.750%.
SUBORDINATE CERTIFICATES: The Group I-B-L, Group II-B-L, Group III-B-L,
Group IV-B-L and Group V-B-L 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 Mortgage Trust Certificates which
are subordinate in right of payment to such Class (provided that no Class of
Group I-B-L Certificates shall be subordinate in right of payment to the
Class I-B-6-L Certificates) by the aggregate of the Class Principal Balances
of the Group I-L and Class R-1 Certificates and the Component II-A-1-5-L
Principal Balance as of such 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 Mortgage Trust Certificates which are
subordinate in right of payment to such Class (provided that no Class of
Group II-B-L Certificates shall be subordinate in right of payment to the
Class II-B-6-L Certificates) by the aggregate of the Class Principal Balances
of the Group II-L Certificates (other than with respect to the Class II-A-1-L
Certificates, Component II-A-1-4-L and Component II-A-1-5-L) 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 Mortgage Trust Certificates which are subordinate in right of
payment to such Class (provided that no Class of Group III-B-L Certificates
shall be subordinate in right of payment to the Class III-B-6-L Certificates)
by the
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aggregate of the Class Principal Balances of the Group III-L 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. On any
specified date, with respect to any of the Group IV-B Certificates, the
percentage obtained by dividing the sum of the Class Principal Balances of
the Classes of Mortgage Trust Certificates which are subordinate in right of
payment to such Class (provided that no Class of Group IV-B-L Certificates
shall be subordinate in right of payment to the Class IV-B-6-L Certificates)
by the aggregate of the Class Principal Balances of the Group IV-L
Certificates as of such date prior to giving effect to distributions of
principal or interest or allocations of Realized Losses on the Group IV Loans
on such date. On any specified date, with respect to any of the Group V-B
Certificates, the percentage obtained by dividing the sum of the Class
Principal Balances of the Classes of Mortgage Trust Certificates which are
subordinate in right of payment to such Class (provided that no Class of
Group V-B-L Certificates shall be subordinate in right of payment to the
Class V-B-6-L Certificates) by the aggregate of the Class Principal Balances
of the Group V-L Certificates as of such date prior to giving effect to
distributions of principal or interest or allocations of Realized Losses on
the Group V 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 Q, for the applicable Distribution Date, for Component
II-A-1-2-L, the Class II-A-3-L Certificates, and the combined targeted
principal balances with respect to the Class II-A-3-L and Class II-A-4-L
Certificates, as applicable.
TAX MATTERS PERSON: The Company, as (i) a Holder of the Class R-2
Certificate, with respect to the Group V Trust Fund, (ii) a Holder of the
Class R-1 Certificate, with respect to the Mortgage Trust Fund, and (iii) a
Holder of the Class R Certificate, with respect to the Certificate Trust
Fund, in each case holding a Certificate having an Authorized Denomination of
at least 0.01% or any Permitted Transferee of such Class R-2, Class R-1 or
Class R Certificateholder designated as succeeding to the position of Tax
Matters Person with respect to the applicable trust fund in a notice to the
Trustee signed by authorized representatives of the transferor and transferee
of such Class R-2, Class R-2 or Class R Certificate. If the Tax Matters
Person for the Group V Trust Fund, Mortgage Trust Fund or the Certificate
Trust Fund becomes a Disqualified Organization, the last preceding Holder of
such Authorized Denomination of the Class R-2, Class R-1 and Class R
Certificate, as applicable, that is not a Disqualified Organization shall be
Tax Matters Person for such trust 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).
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TRANSFEREE AFFIDAVIT AND AGREEMENT: As defined in Section 5.01(c)(i)(B).
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.
II-P FRACTION: For each II-PO Mortgage Loan, a fraction, the numerator
of which is 7.000% less the Pass-Through Rate on such II-PO Mortgage Loan and
the denominator of which is 7.000%.
II-PO MORTGAGE LOAN: Any Group II Loan with a Pass-Through Rate of less
than 7.000% per annum.
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.
UNDERWRITING STANDARDS: The underwriting standards of the Company, Old
Kent Mortgage Co., Chase Manhattan Mortgage Corporation, Headlands Mortgage
Company, National City Mortgage, Western Financial Savings Bank, GMAC
Mortgage Corporation, IndyMac, Inc., SunAmerica Life Insurance Company, PHH
Mortgage Services Corporation, Countrywide Home Loans, Inc. and Washington
Mutual Bank.
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, any state thereof or the District of Columbia, or an estate or
trust that is subject to U.S. federal income tax regardless of the source of
its income.
VA: The Department of Veterans Affairs, formerly known as the Veterans
Administration, or any successor thereto.
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WITHDRAWAL DATE: Any day during the period commencing on the 18th day of
the month of the related Distribution Date (or if such day is not a Business
Day, the immediately preceding Business Day) and ending on the last Business
Day prior to the 21st day of the month of such Distribution Date.
ARTICLE II
CONVEYANCE OF THE TRUST FUNDS; REMIC ELECTION AND DESIGNATIONS; ORIGINAL
ISSUANCE OF CERTIFICATES
Section 2.01. CONVEYANCE OF THE MORTGAGE TRUST FUND; REMIC ELECTION AND
DESIGNATIONS. A trust (the "Mortgage 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 Mortgage Trust Certificates and the Class R-1
Certificates. The purpose of the Mortgage Trust is to hold the Mortgage
Trust Fund and provide for the issuance, execution and delivery of the
Mortgage Trust Certificates and the Class R-1 Certificates. The assets of
the Mortgage Trust shall consist of the Mortgage Trust Fund. The Mortgage
Trust shall be irrevocable.
The assets of the Mortgage Trust shall remain in the custody of the
Trustee, on behalf of the Mortgage Trust, and shall be kept in the Mortgage
Trust. Moneys to the credit of the Mortgage Trust shall be held by the
Trustee and invested as provided herein. All assets received and held in the
Mortgage 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
Mortgage Trust, shall not have the power or authority to transfer, assign,
hypothecate, pledge or otherwise dispose of any of the assets of the Mortgage
Trust to any Person, except as permitted herein. No creditor of a
beneficiary of the Mortgage 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 Mortgage 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 Holders of the Mortgage Trust
Certificates and the Class R-1 Certificates, without recourse, all the
Company's right, title and interest in and to the Mortgage Trust Fund,
including but not limited to (i) all interest or principal received by the
Company on or with respect to the Group V Trust Certificates after the
Cut-Off Date and (ii) all scheduled payments of principal and interest due
after the Cut-Off Date and received by the Company with respect to the
Mortgage Loans (other than the Group V Loans) at any time, and all Principal
Prepayments received by the Company after the Cut-Off Date with respect to
the Mortgage Loans (other than the Group V Loans) (such transfer and
assignment by the Company to be referred to herein as the "Conveyance"). The
Trustee hereby accepts the Mortgage Trust created hereby and accepts delivery
of the Mortgage Trust Fund on behalf of the Mortgage Trust and acknowledges
that it holds the Mortgage Loans and the Group V Trust Certificates for the
benefit of the Holders of the Mortgage Trust Certificates and the Class R-1
Certificates issued pursuant to this Agreement. It is the express intent of
the parties hereto that the Conveyance of the Mortgage Trust Fund to the
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Trustee by the Company as provided in this Section 2.01 be, and be construed
as, an absolute sale of the Mortgage Trust Fund. It is, further, not the
intention of the parties that such Conveyance be deemed a pledge of the
Mortgage 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 Mortgage 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 Mortgage 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, general intangibles, chattel paper, instruments,
documents, money, deposit accounts, certificates of deposit, goods, letters
of credit, advices of credit and investment property consisting of, arising
from or relating to any of the property described in (i), (ii) and (iii)
below: (i) the Mortgage Loans (other than the Group V Loans) identified on
the Mortgage Loan Schedule, including the related Mortgage Notes, Mortgages,
Cooperative Stock Certificates, and Cooperative Leases, all Substitute
Mortgage Loans (other than those related to a Group V Loan) and all
distributions with respect to such Mortgage Loans and Substitute Mortgage
Loans payable on and after the Cut-Off Date; (ii) the Certificate Account,
the Investment Account, the Custodial Accounts for P&I, the Custodial
Account for Reserves (except for amounts therein related to the Group V
Loans), and all money or other property held therein; and (iii) 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 (other than Group V Loans) or the
Mortgage Pool (other than the portion thereof relating to the relating to the
Group V Loans);
(II) All accounts, general intangibles, chattel paper, instruments,
documents, money, deposit accounts, certificates of deposit, goods, letters
of credit, advices of credit, investment property, 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;
(IV) All accounts, general intangibles, chattel paper, instruments,
documents, money, deposit accounts, certificates of deposit, goods, letters
of credit, advices of credit and investment property consisting of, arising
from or relating to any of the property described below: the Group V Trust
Certificates, including, without limitation, all rights represented thereby
in and to the property described in (i), (ii) and (iii) below: (i) the Group
V Loans identified on the Mortgage Loan Schedule, including the related
Mortgage Notes, Mortgages, Cooperative Stock Certificates, and Cooperative
Leases, all Substitute Mortgage Loans relating to the Group V Loans, and all
distributions with respect to such Group V Loans and Substitute Mortgage Loans
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payable on and after the Cut-Off Date; and (ii) the Certificate Account, the
Investment Account, the Custodial Accounts for P&I, the Custodial Account for
Reserves, and all money or other property held therein related to the Group V
Loans; and (iii) 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 Group V Loan or the
portion of the Mortgage Pool relating to the Group V Loans;
(V) All accounts, general intangibles, chattel paper, instruments,
documents, money, deposit accounts, certificates of deposit, goods, letters
of credit, advices of credit, investment property, 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 (IV) above
(including any accrued discount realized on liquidation of any investment
purchased at a discount); and
(VI) All cash and non-cash proceeds of the collateral described in
(IV) and (V) above;
(c) the possession by the Trustee of the Group V Trust Certificates,
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 for purposes of
perfecting the security interest pursuant to the Uniform Commercial Code
(including, without limitation, Sections 9-305 and 9-115 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, securities intermediaries, bailees or agents
of, or persons holding for, the Trustee, as applicable 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 Mortgage Trust Fund, such security interest would be deemed
to be a perfected security interest of first priority under applicable law
and will be maintained as such throughout the term of the Agreement. In
connection herewith, the Trustee shall have all of the rights and remedies of
a secured party and creditor under the Uniform Commercial Code as in force in
the relevant jurisdiction.
In connection with the sale, transfer and assignment referred to in the
first paragraph of this Section 2.01, the Company, concurrently with the
execution and delivery hereof, does deliver to, and deposit with, or cause to
be delivered to and deposited with, the Trustee or Custodian the Mortgage
Files for the Mortgage Loans other than the Group V Loans and the Group V
Trust Certificates, which shall on original issuance thereof and at all times
be registered in the name of the Trustee.
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Concurrently with the execution and delivery hereof, the Company shall
cause assignments of the Mortgage Loans (other than the Group V 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 Agencies submitted in lieu of such recording or
filing, such recording or filing is not required to protect the Trustee's
interest in such 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) relating to a Mortgage
Loan (other than a Group V Loan) 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 (other than
with respect to the Group V loans) 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.
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For Mortgage Loans (other than Group V 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 Mortgage Trust Fund, elect to treat
the Mortgage 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 Mortgage Trust Fund for its first
taxable year.
The Closing Date is hereby designated as the "startup day"
of the REMIC constituted by the Mortgage 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 Mortgage Trust Fund are hereby
designated as "regular interests" for purposes of Section 860G(a)(1) of the
Code. The Class R-1 Certificates are being issued in a single Class, which is
hereby designated as the sole class of "residual interest" in the Mortgage
Trust Fund for purposes of Section 860G(a)(2) of the Code.
The parties intend that the affairs of the Mortgage Trust Fund formed
hereunder shall constitute, and that the affairs of the Mortgage Trust Fund
shall be conducted so as to qualify the Mortgage 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 Mortgage 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 Mortgage 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
Mortgage Trust Fund to be treated as a REMIC on the federal tax return of the
Mortgage 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 Mortgage Trust Certificates and the Class R-1
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 Mortgage Trust Fund at all times
that any Mortgage Trust Certificates are outstanding so as to maintain the
status of the Mortgage 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 Mortgage Trust
Fund; and (f) pay the amount of any federal prohibited transaction penalty
taxes
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imposed on the Mortgage 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 Company shall be entitled to be indemnified by the Mortgage 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 (other than a Group V Loan) is
discovered to have a defect which, had such defect been discovered before the
startup day, would have prevented such 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 the 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 Mortgage Trust
Fund as a REMIC for federal income tax purposes.
In the event that any tax is imposed on "prohibited transactions" of the
Mortgage 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-1
Certificateholders. Notwithstanding anything to the contrary contained
herein, the Trustee is hereby authorized to retain from amounts otherwise
distributable to the Class R-1 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 Mortgage 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 Mortgage Trust Certificates and Class R-1
Certificates. The Trustee agrees, for the benefit of the Holders of the
Mortgage Trust Certificates and Class R-1 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)
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pursuant to the third paragraph of Section 2.01 have been executed and
received, and that such documents relate to the Mortgage Loans identified in
the Mortgage Loan Schedule. In performing such review, the Trustee may rely
upon the purported genuineness and due execution of any such document, and on
the purported genuineness of any signature thereon. The Trustee shall not be
required to make any independent examination of any documents contained in
each Mortgage File beyond the review specifically required herein. The
Trustee makes no representations as to: (i) the validity, legality,
enforceability or genuineness of any of the Mortgage Loans identified on the
Mortgage Loan Schedule, or (ii) the collectability, insurability,
effectiveness or suitability of any Mortgage Loan. If the Trustee finds any
document or documents constituting a part of a Mortgage File not to have been
executed or received, or to be unrelated to the Mortgage Loans identified in
the Mortgage Loan Schedule, the Trustee shall promptly so notify the Company.
The Company hereby covenants and agrees that, if any such defect cannot be
corrected or cured, the Company shall, not later than 60 days after the
Trustee's notice to it respecting such defect, within the three-month period
commencing on the Closing Date (or within the two-year period commencing on
the Closing Date if the related Mortgage Loan is a "defective obligation"
within the meaning of Section 860G(a)(4)(B)(ii) of the Code and Treasury
Regulation Section 1.860G-2(f)), either (i) repurchase the related Mortgage
Loan from the Trustee at the Purchase Price, or (ii) substitute for any
Mortgage Loan to which such defect relates a different mortgage loan (a
"Substitute Mortgage Loan") which is a "qualified replacement mortgage" (as
defined in the Code) and, (iii) after such three-month or two-year period, as
applicable, the Company shall repurchase the Mortgage Loan from the Trustee
at the Purchase Price but only if the Mortgage Loan is in default or default
is, in the judgment of the Company, reasonably imminent. If such defect would
cause the Mortgage Loan to be other than a "qualified mortgage" (as defined
in the Code), then notwithstanding the previous sentence, repurchase or
substitution must occur within the sooner of (i) 90 days from the date the
defect was discovered or (ii) in the case of substitution, two years from the
Closing Date.
Such Substitute Mortgage Loan shall 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
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title to any Mortgage Loan released pursuant hereto. The
obligation of the Company to repurchase or substitute any Mortgage Loan
(other than a Group V Loan) as to which such a defect in a constituent
document exists shall constitute the sole remedy respecting such defect
available to the Mortgage Trust Certificateholders or the Class R-1
Certificateholders or the Trustee on behalf of the Mortgage Trust
Certificateholders or the Class R-1 Certificateholders.
Section 2.03. REPRESENTATIONS AND WARRANTIES OF THE COMPANY CONCERNING
THE MORTGAGE LOANS. With respect to the conveyance of the Mortgage Loans
provided for in Sections 2.01 and 2.09 herein, 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;
provided, however, that the Mortgage Loans described in Exhibit N attached
hereto may have been delinquent as many as two times during the preceding 12
months and any such delinquency may have lasted for as long as 59 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
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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 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 Group V Trust Certificateholders and Class R-2
Certificateholders or the Mortgage Trust Certificateholders and Class R-1
Certificateholders, as applicable, 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 on 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
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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 Agencies;
(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 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) Approximately 1.1% (by Principal Balance) of the Group I
Loans and approximately 1.1% (by Principal Balance) of the Group II Loans are
Buydown Loans, and none of the Group III, Group IV and Group V 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 96.7% (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 2.7% (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 0.6% (by Principal Balance) of the Group I Loans will be
secured by Mortgaged Properties which were investor properties of the related
Mortgagors; approximately 98.4% (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 1.4% (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 0.2% (by Principal Balance) of the Group II Loans will be
secured by Mortgaged Properties which were investor properties of the related
Mortgagors; approximately 88.1% (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 2.7% (by Principal
Balance) of the Group III Loans
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will be secured by owner occupied Mortgaged Properties which were second or
vacation homes of the Mortgagors and approximately 9.2% (by Principal
Balance) of the Group III Loans will be secured by Mortgaged Properties which
were investor properties of the related Mortgagors; approximately 71.9% (by
Principal Balance) of the Group IV Loans will be secured by owner occupied
Mortgaged Properties which are the primary residences of the related
Mortgagors, approximately 3.4% (by Principal Balance) of the Group IV Loans
will be secured by owner occupied Mortgaged Properties which were second or
vacation homes of the Mortgagors and approximately 24.7% (by Principal
Balance) of the Group IV Loans will be secured by Mortgaged Properties which
were investor properties of the related Mortgagors; approximately 97.1% (by
Principal Balance) of the Group V Loans will be secured by owner occupied
Mortgaged Properties which are the primary residences of the related
Mortgagors, approximately 2.5% (by Principal Balance) of the Group V Loans
will be secured by owner occupied Mortgaged Properties which were second or
vacation homes of the Mortgagors and approximately 0.3% (by Principal
Balance) of the Group V Loans will be secured by Mortgaged Properties which
were investor properties of the related Mortgagors; and as of the Cut-Off
Date, 9 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, 6 of the Group II Loans, representing approximately 1.4% (by
Principal Balance) of the Group II Loans will be secured by interests in
Cooperative Apartments, and 19 of the Group III Loans representing
approximately 1.2% (by Principal Balance) of the Group III Loans will be
secured by interests in Cooperative Apartments, and 9 of the Group IV Loans
representing approximately 0.4% (by Principal Balance) of the Group IV Loans
will be secured by interests in Cooperative Apartments, and none of the Group
V 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;
(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);
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(xxv) Each Cooperative Loan is secured by a valid, subsisting
and enforceable (except as such enforcement may be limited by laws
affecting the enforcement of creditors' rights generally and principles
of equity) 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
88.6% (by Principal Balance) of the Group I Loans had a Loan-to-Value
Ratio less than or equal to 80%, approximately 11.4% (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 88.3% (by Principal
Balance) of the Group II Loans had a Loan-to-Value Ratio less than or
equal to 80%, approximately 11.7% (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 84.8% (by Principal Balance) of the
Group III Loans had a Loan-to-Value Ratio less than or equal to 80%,
approximately 15.1% (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%; approximately 91.7% (by Principal Balance) of the Group IV Loans
had a Loan-to-Value Ratio less than or equal to 80%, approximately 8.3%
(by Principal Balance) of the Group IV Loans had a Loan-to-Value Ratio
greater than 80% but less than or equal to 95% and no Group IV Loan had
a Loan-to-Value Ratio at origination greater than 95%; approximately
81.3% (by Principal Balance) of the Group V Loans had a Loan-to-Value
Ratio less than or equal to 80%, approximately 18.7% (by Principal
Balance) of the Group V Loans had a Loan-to-Value Ratio greater than 80%
but less than or equal to 95% and no Group V Loan had a Loan-to-Value
Ratio at origination greater than 95%;
(xxviii) Approximately 51.8% (by Principal Balance) of the Group
I Loans, approximately 54.9% (by Principal Balance) of the Group II
Loans, approximately 48.2% (by Principal Balance) of the Group III
Loans, approximately 62.8% (by Principal Balance) of the Group IV Loans
and approximately 49.5 % (by Principal Balance) of the Group V Loans
were originated for the purpose of refinancing existing mortgage debt,
including cash-out refinancings and approximately 48.2% (by Principal
Balance) of the
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Group I Loans, approximately 45.1% (by Principal Balance) of the Group II
Loans, approximately 51.8% (by Principal Balance) of the Group III Loans,
approximately 37.2% (by Principal Balance) of the Group IV Loans and
approximately 50.5% (by Principal Balance) of the Group V Loans were
originated for the purpose of purchasing the Mortgaged Property;
(xxix) Not less than approximately 88.9%, 85.7%, 70.3%, 55.2%
and 99.5% (by Principal Balance) of the Group I Loans, Group II Loans,
Group III Loans, Group IV Loans and Group V Loans, respectively, were
originated under full documentation programs;
(xxx) 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, such 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 Mortgage Trust Certificateholders and Class R-1 Certificateholders or
the Trustee on behalf of the Mortgage Trust Certificateholders and Class R-1
Certificateholders.
Section 2.04. AUTHENTICATION OF THE MORTGAGE TRUST CERTIFICATES AND THE
CLASS R-1 CERTIFICATES. The Trustee acknowledges the transfer and assignment
to it of the property constituting the Mortgage 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 Mortgage Trust Fund, the Mortgage Trust Certificates and the
Class R-1
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Certificates in Authorized Denominations evidencing the entire
beneficial ownership interest in the Mortgage Trust Fund and relating to the
Mortgage Loans (other than the Group V Loans).
Section 2.05. CONVEYANCE OF THE CERTIFICATE TRUST FUND; REMIC ELECTION
AND DESIGNATIONS. A trust (the "Certificate 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 Certificate Trust Certificates and the Class R
Certificates. The purpose of the Certificate Trust is to hold the
Certificate Trust Fund and provide for the issuance, execution and delivery
of the Certificate Trust Certificates and the Class R Certificates. The
assets of the Certificate Trust shall consist of the Certificate Trust Fund.
The Certificate Trust shall be irrevocable.
The assets of the Certificate Trust shall remain in the custody of the
Trustee, on behalf of the Certificate Trust, and shall be kept in the
Certificate Trust. Moneys to the credit of the Certificate Trust shall be
held by the Trustee and invested as provided herein. All assets received and
held in the Certificate 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 Certificate Trust, shall not have the power or
authority to transfer, assign, hypothecate, pledge or otherwise dispose of
any of the assets of the Certificate Trust to any Person, except as permitted
herein. No creditor of a beneficiary of the Certificate 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 Certificate
Trust, except in accordance with the terms of this Agreement.
Concurrently with the execution and delivery hereof, the Company does
hereby agree to irrevocably sell, transfer, assign, set over, and otherwise
convey to the Trustee in trust for the benefit of the Certificate Trust
Certificateholders and the Class R Certificateholders, without recourse, all
the Company's right, title and interest in and to the Certificate Trust Fund,
including all interest and principal received by the Company on or with
respect to the Mortgage Trust Certificates after the Cut-Off Date. The
Trustee hereby accepts the Certificate Trust created hereby and accepts
delivery of the Certificate Trust Fund on behalf of the Certificate Trust and
acknowledges that it holds the Mortgage Trust Certificates for the benefit of
the holders of the Certificate Trust Certificates and the Class R
Certificates issued pursuant to this Agreement. It is the express intent of
the parties hereto that the conveyance of the Certificate Trust Fund to the
Trustee by the Company as provided in this Section 2.05 be, and be construed
as, an absolute sale of the Certificate Trust Fund. It is, further, not the
intention of the parties that such conveyance be deemed a pledge of the
Certificate 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 Certificate 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 Certificate Trust Fund, then
(a) this Agreement shall be deemed to be a security agreement;
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(b) the conveyance provided for in this Section 2.05 shall be deemed
to be a grant by the Company to the Trustee of a security interest in all of
the Company's right, title, and interest, whether now owned or hereafter
acquired, in and to:
(I) All accounts, contract rights, general intangibles,
chattel paper, instruments, documents, money, deposit accounts,
certificates of deposit, goods, letters of credit, advices of credit and
investment property consisting of, arising from or relating to any of
the property described below: The Mortgage Trust Certificates, including
without limitation all rights represented thereby in and to (i) the
Mortgage Loans identified on the Mortgage Loan Schedule, including the
related Mortgage Notes, Mortgages, Cooperative Stock Certificates, and
Cooperative Leases, all Substitute Mortgage Loans and all distributions
with respect to such Mortgage Loans and Substitute Mortgage Loans
payable on and after the Cut-Off Date, (ii) the Certificate Account, the
Investment Accounts, the Custodial Accounts for P&I, the Custodial
Accounts for Reserves, the Reserve Fund, and all money or other property
held therein; (iii) 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; (iv) all property or 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)-(iii)
above (including any accrued discount realized on liquidation of any
investment purchased at a discount), and (v) all cash and non-cash
proceeds of the collateral described in (i)-(iv) above;
(II) All accounts, general intangibles, chattel paper,
instruments, documents, money, deposit accounts, certificates of
deposit, goods, letters of credit, advices of credit, investment
property 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 Trust
Certificates, 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
for purposes of perfecting the security interest pursuant to the Uniform
Commercial Code (including, without limitation, Sections 9-305 and 9-115
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 notifications to, or acknowledgments, receipts or
confirmations from, securities intermediaries, bailees or agents of,
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or persons holding for, the Trustee, as applicable for the purpose of
perfecting such security interest under applicable law.
The Company and the Trustee 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 Certificate 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 this 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 transfer and assignment described in the first
paragraph of this Section 2.05, the Company shall, concurrently with the
execution and delivery hereof, deliver to, and deposit with, the Trustee the
Mortgage Trust Certificates, which shall on original issuance thereof and at
all times be registered in the name of the Trustee.
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
2.05, and to enter into a Custodial Agreement for such purpose; provided,
however, that the Trustee shall be and remain liable for actions of any such
Custodian only to the extent it would otherwise be responsible for such acts
hereunder.
The Company and the Trustee agree that the Company, on behalf of the
Certificate Trust Fund, shall elect to treat the Certificate 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 Certificate Trust Fund for its first taxable year.
The Closing Date is hereby designated as the "startup day" of the REMIC
constituted by the Certificate 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 Certificate 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
Certificate Trust Fund for purposes of Section 860G(a)(2) of the Code.
The parties intend that the affairs of the Certificate Trust Fund formed
hereunder shall constitute, and that the affairs of the Certificate Trust
Fund shall be conducted so as to qualify it 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 Tax
Matters Person) on behalf of the Certificate 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 for the
Certificate 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
Certificate Trust Fund,
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to be treated as a REMIC on the federal tax return of the Certificate 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
Certificate Trust Certificateholders and the Class R Certificateholders all
information reports as and when required to be provided to them in accordance
with the REMIC provisions; (d) conduct the affairs of the Certificate Trust
Fund at all times that any Certificate Trust Certificates are outstanding so
as to maintain the status of the Certificate 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 Certificate Trust Fund; and (f) pay the amount of any federal prohibited
transaction penalty taxes imposed on the Certificate 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 Company shall be entitled to be indemnified
from the Certificate 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.
In the event that any tax is imposed on "prohibited transactions" of the
Certificate Trust Fund as defined in Section 860F of the Code and not paid by
the Company pursuant to clause (f) of the preceding paragraph, such tax shall
be charged against amounts otherwise distributable to the Holders of the
Class R Certificates. Notwithstanding anything to the contrary contained
herein, the Company is hereby authorized to retain from amounts otherwise
distributable to the Holders of the Class R Certificates on any Distribution
Date sufficient funds to reimburse the Company for the payment of such tax
(to the extent that the Company has not been previously reimbursed therefor).
Section 2.06. ACCEPTANCE BY TRUSTEE. The Trustee acknowledges receipt
of the Mortgage Trust Certificates referred to in Section 2.05 above and
declares that as of the Closing Date it holds and shall hold such documents,
and the Certificate Trust Fund, as Trustee in trust, upon the trusts herein
set forth, for the use and benefit of all present and future Certificate
Trust Certificateholders and the Class R Certificateholders.
Section 2.07. REPRESENTATIONS AND WARRANTIES OF THE COMPANY CONCERNING
THE MORTGAGE TRUST CERTIFICATES. The Company hereby represents and warrants
to the Trustee that:
(i) immediately prior to the transfer and assignment of the
Mortgage Trust Certificates to the Trustee herein contemplated, the
Company had good title to, and was the sole owner and holder of, each
Mortgage Trust Certificate, free and clear of all liens, pledges,
charges or security interests of any nature, and there had been no other
sale or assignment thereof; the Company had full right and authority,
subject to no interest or participation of, or agreement with, any other
party, to sell and assign the same; and immediately upon such transfer
and assignment, the Trustee will have good title thereto and will be the
sole legal owner thereof;
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(ii) as of the date of the transfer of the Mortgage Trust
Certificates to the Trustee there is no valid offset, defense or
counterclaim to any Mortgage Trust Certificates;
(iii) each Mortgage Trust Certificate complies in all material
respects with applicable state or federal laws, regulations and other
requirements pertaining to usury; and
(iv) as of the date of the initial issuance of the Mortgage
Trust Certificates, all taxes and government assessments due and owing
in connection with such issuance have been paid.
It is understood and agreed that the representations and warranties set
forth in this Section 2.07 shall survive delivery of the Mortgage Trust
Certificates to the Trustee, or to a Custodian, as the case may be. Upon
discovery by the Company, the Trustee or any Custodian of a breach of any of
the foregoing representations and warranties (referred to herein as a
"breach"), which breach materially and adversely affects the interests of the
Certificate Trust Certificateholders in the related Mortgage Trust
Certificate, the party discovering such breach shall give prompt written
notice to the others and to the Rating Agencies.
Section 2.08. AUTHENTICATION OF CERTIFICATE TRUST CERTIFICATES AND THE
CLASS R CERTIFICATES. The Trustee acknowledges the transfer and assignment to
it of the property constituting the Certificate Trust Fund 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
Certificate Trust Fund, Certificate Trust Certificates and the Class R
Certificates in Authorized Denominations evidencing the entire ownership of
the Certificate Trust Fund.
Section 2.09. CONVEYANCE OF THE GROUP V TRUST FUND; REMIC ELECTION AND
DESIGNATIONS. A trust (the "Group V 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 Group V Trust Certificates and the Class R-2
Certificates. The purpose of the Group V Trust is to hold the Group V Trust
Fund and provide for the issuance, execution and delivery of the Group V
Trust Certificates and the Class R-2 Certificates. The assets of the Group V
Trust shall consist of the Group V Trust Fund. The Group V Trust shall be
irrevocable.
The assets of the Group V Trust shall remain in the custody of the
Trustee, on behalf of the Group V Trust, and shall be kept in the Group V
Trust. Moneys to the credit of the Group V Trust shall be held by the
Trustee and invested as provided herein. All assets received and held in the
Group V 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
Group V Trust, shall not have the power or authority to transfer, assign,
hypothecate, pledge or otherwise dispose of any of the assets of the Group V
Trust to any Person, except as permitted herein. No creditor of a
beneficiary of the Group V 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 Group V Trust, except in accordance with the
terms of this Agreement.
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Concurrently with the execution and delivery hereof, the Company does
hereby irrevocably sell, transfer, assigns set over, and otherwise convey to
the Trustee in trust for the benefit of the Group V Trust Certificateholders
and the Class R-2 Certificateholders, without recourse, all the Company's
right, title and interest in and to the Group V Trust Fund, including all
scheduled payments of principal and interest due after the Cut-Off Date and
received by the Company with respect to the Group V Loans at any time, and
all Principal Prepayments with respect to the Group V Loans received by the
Company after the Cut-Off Date (such transfer and assignment by the Company
to be referred to herein as the "Group V Conveyance"). The Trustee hereby
accepts the Group V Trust created hereby and accepts delivery of the Group V
Trust Fund on behalf of the Group V Trust and acknowledges that it holds the
Group V Loans for the benefit of the holders of the Group V Trust
Certificates and the Class R-2 Certificates issued pursuant to this
Agreement. It is the express intent of the parties hereto that the
conveyance of the Group V Trust Fund to the Trustee by the Company as
provided in this Section 2.09 be, and be construed as, an absolute sale of
the Group V Trust Fund. It is, further, not the intention of the parties
that such conveyance be deemed a pledge of the Group V 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
Group V 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 Group V Trust Fund, then
(a) This Agreement shall be deemed to be a security agreement;
(b) the conveyance provided for in this Section 2.09 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, general intangibles, chattel paper,
instruments, documents, money, deposit accounts, certificates of
deposit, goods, letters of credit, advices of credit and investment
property consisting of, arising from or relating to any of the
property described below: (i) the Group V Loans identified on the
Mortgage Loan Schedule, including the related Mortgage Notes,
Mortgages, Cooperative Stock Certificates, Cooperative Leases, and all
Substitute Mortgage Loans relating to the Group V Loans, and all
distributions with respect to such Group V Loans and Substitute Mortgage
Loans payable on and after the Cut-Off Date, (ii) the Certificate
Account, the Investment Accounts, the Custodial Accounts for P&I, the
Custodial Accounts for Reserves, and all money or other property held
therein related to the Group V Loans; (iii) 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 Group V Loan or the portion of the Mortgage Pool
relating to the Group V Loans; (iv) all property or 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)-(iii) above (including any accrued discount realized on
liquidation of any investment purchased at a discount), and (v) all
cash and non-cash proceeds of the collateral described in (i)-(iv) above;
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(II) All accounts, general intangibles, chattel paper,
instruments, documents, money, deposit accounts, certificates of
deposit, goods, letters of credit, advices of credit, investment
property 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 Group V Loans, 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 for purposes of
perfecting the security interest pursuant to the Uniform Commercial Code
(including, without limitation, Sections 9-305 and 9-115 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 notifications to, or acknowledgments, receipts or
confirmations from, securities intermediaries, bailees or agents of, or
persons holding for, the Trustee, as applicable for the purpose of perfecting
such security interest under applicable law.
The Company and the Trustee 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 Group V 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 this 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 transfer and assignment described in the first
paragraph of this Section 2.09, the Company shall, concurrently with the
execution and delivery hereof, deliver to, and deposit with, or cause to be
delivered to and deposited with, the Trustee or Custodian, the Mortgage Files
as they relate to the Group V Loans.
Concurrently with the execution and delivery hereof, the Company shall
cause assignments of the Group V Loans to the Trustee to be recorded or
filed, except in states where, in the opinion of counsel admitted to practice
in such state and acceptable to the Company, the Trustee and the Rating
Agencies, submitted in lieu of such recording or filing, such recording or
filing is not required to protect the Trustee's interest in such 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
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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 Group V 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.
For Group V 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 2.09, and to enter into a Custodial Agreement for such purpose;
provided,
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however, that the Trustee shall be and remain liable for actions of any such
Custodian only to the extent it would otherwise be responsible for such acts
hereunder.
The Company and the Trustee agree that the Company, on behalf of the
Group V Trust Fund, shall elect to treat the Group V 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 Group V Trust Fund for its first taxable year.
The Closing Date is hereby designated as the "startup day" of the REMIC
constituted by the Group V 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 Group V Trust Fund are hereby
designated as "regular interests" for purposes of Section 860G(a)(1) of the
Code. The Class R-2 Certificates are being issued in a single Class, which is
hereby designated as the sole class of "residual interest" in the Group V
Trust Fund for purposes of Section 860G(a)(2) of the Code.
The parties intend that the affairs of the Group V Trust Fund formed
hereunder shall constitute, and that the affairs of the Group V Trust Fund
shall be conducted so as to qualify it 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 Tax
Matters Person) on behalf of the Group V 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 for the Group V 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 Group V Trust
Fund, to be treated as a REMIC on the federal tax return of the Group V 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 Group V
Trust Certificateholders and the Class R-2 Certificateholders all information
reports as and when required to be provided to them in accordance with the
REMIC provisions; (d) conduct the affairs of the Group V Trust Fund at all
times that any Group V Trust Certificates are outstanding so as to maintain
the status of the Group V 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 Group V Trust
Fund; and (f) pay the amount of any federal prohibited transaction penalty
taxes imposed on the Group V 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 Company shall be entitled to be indemnified from the Group V 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.
In the event that a Group V Loan is discovered to have a defect which,
had such defect been discovered before the startup day, would have prevented
such Mortgage Loan from being a "qualified mortgage" within the meaning of
Section 860G(a)(3) of the Code, and the Company
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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 Group V Trust Fund as a
REMIC for federal income tax purposes.
In the event that any tax is imposed on "prohibited transactions" of the
Group V Trust Fund as defined in Section 860F of the Code and not paid by the
Company pursuant to clause (f) of the preceding paragraph, such tax shall be
charged against amounts otherwise distributable to the Holders of the
Class R-2 Certificates. Notwithstanding anything to the contrary contained
herein, the Company is hereby authorized to retain from amounts otherwise
distributable to the Holders of the Class R-2 Certificates on any
Distribution Date sufficient funds to reimburse the Company for the payment
of such tax (to the extent that the Company has not been previously
reimbursed therefor).
Section 2.10. REPRESENTATIONS AND WARRANTIES OF THE COMPANY CONCERNING
THE GROUP V TRUST CERTIFICATES. The Company hereby represents and warrants
to the Trustee that:
(i) immediately prior to the transfer and assignment of the
Group V Trust Certificates to the Trustee herein contemplated, the
Company had good title to, and was the sole owner and holder of, each
Group V Trust Certificate, free and clear of all liens, pledges,
charges or security interests of any nature, and there had been no other
sale or assignment thereof; the Company had full right and
authority, subject to no interest or participation of, or agreement
with, any other party, to sell and assign the same; and immediately
upon such transfer and assignment, the Trustee will have good title
thereto and will be the sole legal owner thereof;
(ii) as of the date of the transfer of the Group V Trust
Certificates to the Trustee there is no valid offset, defense or
counterclaim to any Group V Trust Certificates;
(iii) each Group V Trust Certificate complies in all material
respects with applicable state or federal laws, regulations and other
requirements pertaining to usury; and
(iv) as of the date of the initial issuance of the Group V
Trust Certificates, all taxes and government assessments due and owing in
connection with such issuance have been paid.
It is understood and agreed that the representations and warranties set
forth in this Section 2.10 shall survive delivery of the Group V Trust
Certificates to the Trustee, or to a Custodian, as the case may be. Upon
discovery by the Company, the Trustee or any Custodian of a breach of any of
the foregoing representations and warranties (referred to herein as a
"breach"), which breach materially and adversely affects the interests of the
Mortgage Trust Certificateholders in
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the related Group V Trust Certificate, the party discovering such breach
shall give prompt written notice to the others and to the Rating Agencies.
Section 2.11. 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 2.09) referred to in Section 2.09 above, but
without having made the review required to be made within 45 days pursuant to
this Section 2.11, 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 Group V 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 Group V Trust Certificates and Class R-2
Certificates. The Trustee agrees, for the benefit of the Holders of the
Group V Trust Certificates and Class R-2 Certificates, to review or cause the
Custodian to review each Mortgage File related to the Group V Loans 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)(v) and (Y)(x)
of the definition of "Mortgage File," known by the Trustee to be required)
pursuant to the third paragraph of Section 2.09 have been executed and
received, and that such documents relate to the Group V 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 Group V Loans identified on the
Mortgage Loan Schedule, or (ii) the collectability, insurability,
effectiveness or suitability of any Group V 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 Group V 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 Group V 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 Group V
Loan from the Trustee at the Purchase Price, or (ii) substitute for any
Group V 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 Group V Loan from the Trustee at
the Purchase Price but only if such Mortgage Loan is in default or default
is, in the judgment of the Company, reasonably imminent. If such defect would
cause the Group V 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 meet the criteria set forth in
Section 2.02 above. If the aggregate of the principal balances of the
Substitute Mortgage Loans substituted for a Group V Loan is less than the
Principal Balance of such Mortgage Loan, the Company shall pay the
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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 Group V Loan pursuant to this
Section 2.10. 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 Group V Loan. A Substitute
Mortgage Loan may be substituted for a defective Group V Loan whether or not
such defective Group V Loan is itself a Substitute Mortgage Loan.
The Purchase Price for each repurchased Group V 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 Group V Loan released pursuant hereto. The
obligation of the Company to repurchase or substitute any Group V Loan as to
which such a defect in a constituent document exists shall constitute the
sole remedy respecting such defect available to the Group V Trust
Certificateholders or the Class R-2 Certificateholders or the Trustee on
behalf of the Group V Trust Certificateholders or the Class R-2
Certificateholders.
Section 2.12. AUTHENTICATION OF GROUP V TRUST CERTIFICATES AND THE
CLASS R-2 CERTIFICATES. The Trustee acknowledges the transfer and assignment
to it of the property constituting the Group V Trust Fund, but without having
made the review required to be made within 45 days pursuant to Section 2.11,
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 Group V Trust Fund, the Group V Trust Certificates and the Class R-2
Certificates in Authorized Denominations evidencing the entire beneficial
ownership interest in the Group V Trust Fund and relating to the Group V
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
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 Group V
Trust Fund, the Mortgage Trust Fund or the Certificate Trust Fund, as
applicable, on behalf of the Trustee in order to enforce the terms of the
Mortgage Notes. Each Master Servicer may perform its
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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
Group V Certificateholders and Class R-2 Certificateholders or the Mortgage
Trust Certificateholders and the Class R-1 Certificateholders, as applicable,
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,
as applicable, shall establish escrow accounts for, or pay when due (by means
of an advance), any
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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 any of the REMICs 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 applicable 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:
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(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
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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
Group V Trust Certificateholders, Class R-2 Certificateholders, Mortgage Trust
Certificateholders and Class R-1 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
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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;
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(ii) In the event of a Payoff of any Mortgage Loan having a
related Buydown Fund, to apply amounts remaining in Buydown Fund Accounts
to reduce the required amount of such principal Payoff (or, if the
Mortgagor has made a Payoff, to refund such remaining Buydown Fund amounts
to the Person entitled thereto);
(iii) In the event of foreclosure or liquidation of any Mortgage
Loan having a Buydown Fund, to deposit remaining Buydown Fund amounts in
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.
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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 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
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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 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
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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 (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 Mortgage Trust Fund and Group V 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 Mortgage Trust Fund or Group V 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 Mortgage Trust Fund or Group V
Trust Fund, unless such Master Servicer provides to the Trustee an Opinion of
Counsel to the effect that the holding by the Mortgage Trust Fund or Group V
Trust Fund, as applicable, of such Mortgaged Property subsequent to two years
after its acquisition will not result in the imposition of taxes on
"prohibited transactions" of the Mortgage Trust Fund or Group V Trust Fund as
defined in Section 860F of the Code or cause the Mortgage Trust Fund or Group
V 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
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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 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
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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.
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
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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 Mortgage Trust Fund or Group
V Trust Fund through foreclosure, deed in lieu of foreclosure or other
exercise of the Mortgage Trust Fund's or Group V Trust Fund's security
interest in the Mortgaged Property.
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.
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Section 3.16. [RESERVED]
Section 3.17. MAINTENANCE OF THE RESERVE FUND; COLLECTIONS THEREUNDER.
On or prior to the Closing Date, the Certificate Administrator shall cause to
be established and maintained the Reserve Fund in the Reserve Fund Initial
Amount to provide coverage to the Class V-A-7 Certificates with respect to
Covered Losses allocable to the Class V-A-7 Certificates. With respect to
any Distribution Date where the Certificate Administrator determines that a
Covered Loss exists, the Certificate Administrator shall determine the amount
of the Covered Loss allocable to the Class V-A-7 Certificates on such
Distribution Date and shall notify the Trustee by Noon New York City time on
the Business Day prior to the Distribution Date of such amount. In
accordance with Section 4.03(b), the Trustee shall then withdraw from the
Reserve Fund, to the extent funds are available therein, any amounts needed
to cover such amount of Covered Losses allocable to the Class V-A-7
Certificates.
Any amounts withdrawn by the Trustee from the Reserve Fund shall be
deposited in the Certificate Account for distribution to the Class V-A-7
Certificateholders as described in the immediately preceding paragraph.
Upon termination of the Certificate Trust Fund, the Certificate
Administrator shall promptly remit to Greenwich Financial, LLP ("Greenwich")
any amounts at the time remaining in the Reserve Fund.
Amounts on deposit in the Reserve Fund shall not be invested.
The Reserve Fund established hereunder, to the extent that it
constitutes a "reserve fund" for purposes of the REMIC Provisions, shall be
an "outside reserve fund" as defined in Treasury Regulation 1.860G-2(h), and
in that regard (i) such fund shall be an outside reserve fund and not an
asset of either REMIC, and (ii) such fund shall be owned for federal tax
purposes by the Greenwich and Greenwich shall report all amounts of income,
deduction, gain or loss accruing therefrom, and (iii) amounts transferred by
the REMIC to the Reserve Fund shall be treated as distributed by the REMIC to
Greenwich.
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 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
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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 MORTGAGE TRUST AND CLASS R-1
CERTIFICATEHOLDERS.
(a) On each Distribution Date, the Trustee (or any duly appointed
paying agent) (i) shall be deemed to have distributed from the Certificate
Account the Mortgage Trust Certificate Distribution Amount to the Mortgage
Trust Certificateholders and to have deposited such amount for their benefit
into the Certificate Account and (ii) from the Certificate Account shall
distribute to the Class R-1 Certificateholders the sum of (a) the applicable
Excess Liquidation Proceeds and (b) the amounts to be distributed to the
Class R-1 Certificateholders pursuant to the definition of "Mortgage Trust
Certificate Distribution Amount" for such Distribution Date, all 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 Mortgage Trust 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. Notwithstanding any other provision of this Agreement,
no actual distributions pursuant to clause (i) of this Section 4.01(a) shall
be made on account of the deemed distributions described in this paragraph
except in the event of a liquidation of the Certificate Trust Fund and not
the Mortgage Trust Fund.
(b) All reductions in the Certificate Principal Balance of a Mortgage
Trust 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 Mortgage Trust Certificate and of
any Mortgage Trust Certificate issued upon the registration of transfer or
exchange therefor or in lieu thereof, whether or not such distribution is
noted on such Mortgage Trust Certificate. The final distribution of principal
of each Mortgage Trust Certificate (and the final distribution with respect
to the Class R-1 Certificates upon termination of the Mortgage Trust Fund)
shall be payable in the manner provided above only upon presentation and
surrender
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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 Trustee
that it believes that the entire remaining unpaid Class Principal Balance of
any Class of Mortgage Trust 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 Mortgage Trust Certificate to be so retired is registered at the
close of business on the Record Date and to the Rating Agencies 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 Mortgage Trust 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 Mortgage Certificate after such Distribution Date.
Section 4.02. STATEMENTS TO MORTGAGE TRUST 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 upon 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 Mortgage Trust 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;
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(c) The amount of Group I Special Hazard Coverage, Group II
Special Hazard Coverage, Group III Special Hazard Coverage, Group IV
Special Hazard Coverage and Group V 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, Group III Bankruptcy Coverage, Group IV Bankruptcy Coverage
and Group V Bankruptcy Coverage available to the Senior Certificates
remaining as of the close of business on the applicable Determination
Date;
(e) The amount of Group I Fraud Coverage, Group II Fraud Coverage,
Group III Fraud Coverage, Group IV Fraud Coverage and Group V 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 SERVICER; 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
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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 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 Noon 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, if any, to be withdrawn from the
Reserve Fund with respect to Covered Losses and the amount of principal and
interest, the Residual Distribution Amount and the Excess Liquidation
Proceeds to be distributed to each Class of Group V Trust Certificates, each
Class of Mortgage Trust Certificates, each Class of Certificate Trust
Certificates and each Class of Residual Certificates on such Distribution
Date (such amounts to be determined in accordance with the definitions of
"Group V Trust Certificate Distribution Amount", "Mortgage Trust Certificate
Distribution Amount" and "Certificate Trust Certificate Distribution Amount,"
Section 4.01, Section 4.05 and Section 4.07 hereof and other related
definitions set forth in Article I hereof).
(c) If, for any Distribution Date, the Certificate Administrator has
determined that there will be Covered Losses allocable to the Class V-A-7
Certificates, upon notice from the Certificate Administrator to the Trustee
as described in paragraph (b) above, on the applicable Withdrawal Date, the
Trustee shall make or cause to be made, as applicable, a withdrawal from the
Reserve
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Fund and deposit in the Certificate Account the amount of such Covered Losses
allocable to the Class V-A-7 Certificates, to the extent of the amounts
remaining in the Reserve Fund.
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.
Section 4.05. CERTIFICATE TRUST DISTRIBUTIONS.
(a) On each Distribution Date, the Trustee (or any duly appointed
paying agent) shall (i) withdraw from the Certificate Account, the
Certificate Trust Available Distribution Amount for such Distribution Date
and shall distribute, from the amount so withdrawn, to the extent of the
Certificate Trust Available Distribution Amount, the Certificate Trust
Certificate Distribution Amount to the Certificate Trust Certificates and
Class R Certificates and (ii) withdraw from the Reserve Fund the amounts
specified in Section 3.17 and distribute the amounts so withdrawn to the
Class V-A-7 Certificates in accordance with such Section 3.17, in either case
by wire transfer in immediately available funds for the account of, or by
check mailed to, each Certificate Trust 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 Certificate
Trust Certificateholder and at the address of such Holder appearing in the
Certificate Register.
(b) All reductions in the Certificate Principal Balance of a
Certificate Trust Certificate effected by distributions of principal and all
allocations of Realized Losses made on any Distribution Date shall be binding
upon all Holders of such Certificate Trust Certificate and of any Certificate
Trust 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
Trust Certificate (and the final distribution upon the Class R Certificates
upon the termination of the Certificate 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
4.05(c)(ii) and Section 9.01(b).
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(c) Whenever, on the basis of Curtailments, Payoffs and Monthly
Payments on the Mortgage Loans and Insurance Proceeds or Liquidation Proceeds
received and expected to be received during applicable Prepayment Period, the
Certificate Administrator has notified the Trustee that it believes that the
entire remaining unpaid Class Principal Balance of any Class of Certificate
Trust 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 Trust Certificate to be so retired is registered at the close of
business on the Record Date and to the Rating Agencies 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 Trust 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 Trust Certificate after such Distribution
Date.
Section 4.06. STATEMENTS TO CERTIFICATE TRUST CERTIFICATEHOLDERS. With
each distribution from the Certificate Account on a Distribution Date, the
Certificate Administrator shall, based upon the 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 Certificate
Trust Certificateholder and Class R 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, Group III Special Hazard Coverage, Group IV
Special Hazard Coverage and Group V Special Hazard Coverage available to
the Senior Certificates remaining as of the close of business on the
applicable Determination Date;
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(d) The amount of Group I Bankruptcy Coverage, Group II Bankruptcy
Coverage, Group III Bankruptcy Coverage, Group IV Bankruptcy Coverage
and Group V Bankruptcy Coverage available to the Senior Certificates
remaining as of the close of business on the applicable Determination
Date;
(e) The amount of Group I Fraud Coverage, Group II Fraud Coverage,
Group III Fraud Coverage, Group IV Fraud Coverage and Group V Fraud
Coverage available to the Senior Certificates remaining as of the close
of business on the applicable Determination Date;
(f) The amount of coverage available to the Class V-A-7
Certificates under the Reserve Fund as of the close of business on the
applicable Determination Date; and
(g) 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 4.07. DISTRIBUTIONS TO GROUP V TRUST CERTIFICATEHOLDERS.
(a) On each Distribution Date, the Trustee (or any duly appointed
paying agent) (i) shall be deemed to have distributed from the Certificate
Account the Group V Trust Certificate Distribution Amount to the Group V
Trust Certificateholders and to have deposited such amount for their benefit
into the Certificate Account and (ii) from the Certificate Account shall
distribute to the Class R-2 Certificateholders the sum of (a) the applicable
Excess Liquidation Proceeds and (b) the amounts to be distributed to the
Class R-2 Certificateholders pursuant to the definition of "Group V Trust
Certificate Distribution Amount" for such Distribution Date, all 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 Group V Trust 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. Notwithstanding any other provision of this Agreement,
no actual distributions pursuant to clause (i) of this Section 4.07(a) shall
be made on account of the deemed distributions described in this paragraph
except in the event of a liquidation of the Mortgage Trust Fund and the
Certificate Trust Fund and not the Group V Trust Fund.
(b) All reductions in the Certificate Principal Balance of a Group V
Trust Certificate effected by distributions of principal or allocations of
Realized Losses with respect to Group V Loans made on any Distribution Date
shall be binding upon all Holders of such Group V Trust Certificate and of
any Group V Trust Certificate issued upon the registration of transfer or
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exchange therefor or in lieu thereof, whether or not such distribution is
noted on such Group V Trust Certificate. The final distribution of principal
of each Group V Trust Certificate (and the final distribution with respect to
the Class R-2 Certificates upon termination of the Group V 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 4.07(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 Trustee
that it believes that the entire remaining unpaid Class Principal Balance of
any Class of Group V Trust 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 Group V Trust Certificate to be so retired is registered at the close
of business on the Record Date and to the Rating Agencies 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 Group V Trust 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 Group V Trust Certificate after such Distribution Date.
Section 4.08. STATEMENTS TO GROUP V TRUST 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 upon the 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 Group V Trust 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 Group V Loans:
(a) The number and aggregate Principal Balance of the Group V
Loans delinquent one, two and three months or more;
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(b) The (i) number and aggregate Principal Balance of Group V
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
Group V Loans;
(c) The amount of the Group V Special Hazard Coverage remaining as
of the close of business on the applicable Determination Date;
(d) The amount of the Group V Bankruptcy Coverage remaining as of
the close of business on the applicable Determination Date;
(e) The amount of the Group V Fraud Coverage remaining as of the
close of business on the applicable Determination Date; and
(f) The amount of Realized Losses incurred in respect of Loan
Group V allocable to the Group V Certificates on the related
Distribution Date and the cumulative amount of Realized Losses incurred
in respect of Loan Group V 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.
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 I, II, III, IV, V
and B with the appropriate insertions from Exhibits H, K and O 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 Sections 2.01 and 2.09. 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,
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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:
(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
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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 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
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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 liminated, provided that there
shall have been delivered to the Trustee the following:
(A) written notification from each Rating Agencies to the
effect that the modification, addition to or elimination of such
provisions will not cause such Rating Agencies to downgrade its
then-current Ratings of the Certificates; and
(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 Group V Trust Fund, the Mortgage
Trust Fund or the Certificate Trust Fund to cease to qualify as a
REMIC and will not create a risk that (1) the Group V Trust Fund,
the Mortgage Trust Fund or Certificate 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.
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(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] [R-1] [R-2] 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] [R-1]
[R-2] CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL BE DEEMED TO
HAVE CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH.
(vii) The Tax Matters Person for each of the Group V Trust,
the Mortgage Trust or the Certificate Trust, while not a Disqualified
Organization, shall be the tax matters person for the related REMIC
within the meaning of Section 6231(a)(7) of the Code and Treasury
Regulation Section 1.860F-4(d).
(d) In the case of any Class B, Class V-A-6 or Class V-A-9 Certificates
or Residual Certificates 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 B, Class V-A-6, Class
V-A-9 or Residual Certificate is permissible under applicable law, will not
constitute or result in a non-exempt prohibited transaction under Section 406
of ERISA or
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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 B, Class
V-A-6 or Class V-A-9 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 the Class B, Class V-A-6 or Class V-A-9 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 Mortgage 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 Agencies.
Notwithstanding the foregoing, any Junior Subordinate Certificate may be
transferred, sold, pledged or otherwise disposed of in accordance with the
requirements set forth in Section 5.01(f).
(f) No transfer of a Class II-A-1 Certificate may be made unless in
accordance with this Section 5.01(f). In addition, transfers of 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
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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 the Group V Trust Certificates, Mortgage Trust Certificates or
Certificate Trust Certificates, as applicable, 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: Tom Bowen, 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
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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 Group V Trust Fund, the Mortgage Trust Fund or
the Certificate Trust Fund, as applicable, 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 I, II, III, IV, V and H, K, and P hereto
as the Trustee's officers executing such Certificates may
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determine, as evidenced by their execution of the Certificates.
Notwithstanding the foregoing, the Certificates may remain in the form set
forth in this definition of "Temporary Certificates."
If temporary Certificates are issued, the Trustee shall cause definitive
Certificates to be prepared within ten Business Days of the Closing Date or
as soon as practicable thereafter. After preparation of definitive
Certificates, the temporary Certificates shall be exchangeable for definitive
Certificates upon surrender of the temporary Certificates at the office or
agency of the Trustee to be maintained as provided in Section 5.10 hereof,
without charge to the holder. Any tax or governmental charge that may be
imposed in connection with any such exchange shall be borne by the
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;
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(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
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
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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.
ARTICLE VI
THE COMPANY, THE MASTER SERVICERS AND THE CERTIFICATE ADMINISTRATOR
Section 6.01. LIABILITY OF THE COMPANY AND THE MASTER SERVICES 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 Mortgage Trust
Fund, the Certificate Trust Fund, the Group V 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
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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 Mortgage Trust Fund, the Certificate Trust Fund and the Group V 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 action and any liability resulting therefrom shall be expenses, costs
and liabilities of the Certificate Trust Fund, the Mortgage Trust Fund and
the Group V 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:
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(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 Certificate
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 Certificate 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 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 Certificate 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
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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 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
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the Trustee by the Holders of Certificates evidencing Percentage Interests
aggregating not less than 25% of the Certificate 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 Certificate Trust Fund, by
notice in writing to the Company and the Trustee, may direct the Trustee in
accordance with Section 10.03 to institute an action, suit or proceeding in
its own name as Trustee hereunder to enforce the Company's obligations
hereunder.
(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 Certificate 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 Certificate Trust Fund; or
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(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 Certificate 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 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 Certificate Trust Fund may take certain action,
such action shall be taken by the Trustee, but only if the requisite
percentage of Certificate Trust 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.
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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.
(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
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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.
(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 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
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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 Certificate 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 Agencies
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 Agencies) 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 Agencies 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;
(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,
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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 Certificate 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.
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
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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 Group V Trust Fund, the
Mortgage Trust Fund or the Certificate 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 Agencies. 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 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 Certificate 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.
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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 Agencies.
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.
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
Group V Trust Fund, Mortgage Trust Fund or Certificate 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 Group V Trust Fund, Mortgage Trust Fund
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or Certificate Trust Fund and to vest in such Person or Persons, in such
capacity, such title to the Group V Trust Fund, Mortgage Trust Fund or
Certificate 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 Group V Trust Fund, the
Mortgage Trust Fund or the Certificate 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.
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
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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 and place of
business in New York, New York, having a combined
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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 Mortgage
Trust Fund and the Group V Trust Fund, as applicable, 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
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such Mortgage Loan as of the date of such repurchase by the Company to the
extent that the Principal Balance of such Mortgage Loan has not been
previously reduced by such Bankruptcy Loss, and (y) the appraised fair market
value as of the effective date of the termination of the trust created hereby
of (A) all property in the Mortgage Trust Fund and the Group V 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 Mortgage Trust Fund (other than
the Group V Trust Certificates) and Group V 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
Mortgage Trust Fund and Group V 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 Mortgage Trust Fund or Group V 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
Services) 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
Mortgage Trust Fund or Group V 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 Mortgage Trust Fund and Group V 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 Services'
obligation to hold all amounts payable to Certificateholders in trust without
interest pending such payment.
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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.
Section 9.02. ADDITIONAL TERMINATION REQUIREMENTS.
(a) In the event the Company exercises its purchase option as provided
in Section 9.01, the Group V Trust Fund and Mortgage Trust Fund and the
Certificate 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 Group
V Trust Fund, Mortgage Trust Fund and Certificate 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 Group V Trust Fund, the Mortgage
Trust Fund and the Certificate Trust Fund as described in Section 860F of the
Code, or (ii) cause the Group V Trust Fund, the Mortgage Trust Fund or the
Certificate Trust Fund to fail to qualify as a REMIC at any time that any
Certificates are outstanding:
(i) Within 90 days prior to the final Distribution Date 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 Group V Trust Fund, the Mortgage Trust Fund and the Certificate
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 Group V Trust Fund, Mortgage Trust Fund and the Certificate Trust
Fund; and
(ii) At or after the time of adoption of such a plan of
complete liquidation and at or prior to the final Distribution Date, the
Certificate Administrator as agent of the Trustee shall sell all of the
assets of the Group V Trust Fund, the Mortgage Trust Fund and the
Certificate 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 Group V Trust Fund, the Mortgage
Trust Fund and the Certificate Trust Fund prior to the close of that
calendar quarter.
(b) By its acceptance of any Residual Certificate, the Holder thereof
hereby agrees to authorize the Company to adopt such a plan of complete
liquidation upon the written request of the Company and to take such other
action in connection therewith as may be reasonably requested by the Company.
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Section 9.03. TRUSTS IRREVOCABLE. Except as expressly provided herein,
the trusts created hereby are 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, 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
Group V Trust Fund, the Mortgage Trust Fund or the Certificate Trust Fund, or
to assure the conveyance to the Trustee of any property included in the
Group V Trust Fund, the Mortgage Trust Fund or the Certificate Trust Fund;
and (v) pursuant to Section 5.01(c)(v). No such amendment (other than one
entered into pursuant to clause (iii) of the preceding sentence) shall
adversely affect in any material respect the interest of any
Certificateholder. Prior to entering into any amendment without the consent
of Certificateholders pursuant to this paragraph, the Trustee may require an
Opinion of Counsel to the effect that such amendment is permitted under this
paragraph. The placement of an "original issue discount" legend on, or any
change required to 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 Certificate 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 Group V Trust Fund, the Mortgage Trust Fund or
the Certificate 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.
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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, the Group V Trust Fund, the Mortgage Trust Fund or Certificate
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 Group V Trust Fund, the Mortgage Trust
Fund or Certificate Trust Fund, nor otherwise affect the rights, obligations
and liabilities of the parties hereto or any of them.
No Certificateholder shall have any right to vote or in any manner
otherwise to control the operation and management of the Group V Trust Fund,
the Mortgage Trust Fund or Certificate 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 Certificate 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
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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 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
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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 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 (f) 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 Agencies 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 Agencies. 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.
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 AGENCIES.
(a) The Trustee shall notify the Rating Agencies 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 Agencies 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:
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(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
(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 Agencies 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 Agencies in respect of each Distribution
Date, without regard to whether any Certificateholder or the Trustee has
requested such report for such Distribution Date.
Section 10.11. CERTIFICATE INSURANCE. In the event that a certificate
insurance policy (the "Certificate Insurance Policy") is issued by a
certificate insurer (the "Certificate Insurer") with respect to the Class
II-A-1 Certificates (the "Insured Certificates"), and provided that the
related insurance agreement (the "Insurance Agreement") so provides, the
following provisions shall be in effect:
(a) For so long as no Certificate Insurer Default (as such term is
defined in the Insurance Agreement) exists, the Certificate Insurer shall be
deemed to be the sole Holder of all outstanding Insured Certificates;
provided, that the Certificate Insurer shall have no power without the
consent of the Owner of each Certificate affected thereby to: (i) reduce in
any manner the amount
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of, or delay the timing of, distributions of principal or interest required
to be made hereunder or reduce the Insured Certificateholder's Percentage
Interest, the Remittance Rate or the Termination Payment with respect to any
of the Insured Certificates, (ii) reduce the percentage of Percentage
Interests specified in Section 10.01 which are required to amend this
Agreement, (iii) create or permit the creation of any lien against any part
of the Mortgage Trust Fund, the Certificate Trust Fund or the Group V Trust
Fund, (iv) modify any provision in any way which would permit an earlier
retirement of the Certificates, or (v) amend this section;
(b) The Trustee shall (i) receive as attorney-in-fact of each Insured
Certificateholder any Insured Payment (as such term is defined in the
Insurance Agreement) from the Certificate Insurer and (ii) distribute such
Insured Payment to such Insured Certificateholders in accordance with the
terms of the Insurance Agreement. Insured Payments disbursed by the Trustee
from proceeds of the Certificate Insurance Policy shall not be considered
payment by the Certificate Trust Fund with respect to the Insured
Certificates, nor shall such disbursement of such Insured Payments discharge
the obligations of the Certificate Trust Fund with respect to the amounts
thereof, and the Certificate Insurer shall become owner of such amounts to
the extent covered by such Insured Payments as the deemed assignee of such
Insured Certificateholders. The Trustee hereby agrees on behalf of each
Insured Certificateholder (and each Insured Certificateholder, by its
acceptance of its Insured Certificates, hereby agrees) for the benefit of the
Certificate Insurer that the Trustee shall recognize that to the extent the
Certificate Insurer makes Insured Payments, either directly or indirectly (as
by paying through the Trustee), to the Insured Certificateholders, the
Certificate Insurer will be entitled to be subrogated to the rights of the
Insured Certificateholders to the extent of such payments. Exclusively for
the purpose of determining any subrogation rights of the Certificate Insurer
arising hereunder, "Class Principal Balance" of the Insured Certificates
shall not be reduced by the amount of any payments made by the Certificate
Insurer in respect of principal on the Insured Certificates under the
Certificate Insurance Policy, except to the extent such payments have been
reimbursed to the Certificate Insurer pursuant to the provisions of the
Insurance Agreement;
(c) For so long as no Certificate Insurer Default exists, any reports,
compliance certificates or other officer's certificates, and any Opinions of
Counsel required to be delivered to the Trustee by either Master Servicer or
the Certificate Administrator shall be delivered at the same time to the
Certificate Insurer;
(d) For so long as no Certificate Insurer Default exists, upon the
occurrence of any Event of Default with respect to a Master Servicer, the
Certificate Administrator or the Company, then in each such case, the
Certificate Insurer will have the same rights to terminate the rights and
obligations of the defaulting party as the Trustee has pursuant to
Section 7.01 hereof; and
(e) For so long as no Certificate Insurer Default exists, any reduction
in the Bankruptcy Coverage, Special Hazard Coverage and Fraud Coverage with
respect to Loan Group II shall require the prior written consent of the
Certificate Insurer.
188
<PAGE>
IN WITNESS WHEREOF, the Company, IndyMac, Inc. 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/ Daniel P. Hoffman
-------------------------------------
Daniel P. Hoffman
Its: Second Vice President
INDYMAC, INC.
(SEAL)
By:
-------------------------------------
Its:
-------------------------------------
U.S. BANK NATIONAL ASSOCIATION, as Trustee
(SEAL)
By:
-------------------------------------
Its:
-------------------------------------
<PAGE>
IN WITNESS WHEREOF, the Company, IndyMac, Inc. 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:
-------------------------------------
Daniel P. Hoffman
Its: Second Vice President
INDYMAC, INC.
(SEAL)
No Seal
By: /s/ Shannon Smith
-------------------------------------
Its: 1st VP
-------------------------------------
U.S. BANK NATIONAL ASSOCIATION, as Trustee
(SEAL)
By:
-------------------------------------
Its:
-------------------------------------
<PAGE>
IN WITNESS WHEREOF, the Company, IndyMac, Inc. 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:
-------------------------------------
Daniel P. Hoffman
Its: Second Vice President
INDYMAC, INC.
(SEAL)
By:
-------------------------------------
Its:
-------------------------------------
U.S. BANK NATIONAL ASSOCIATION, as Trustee
(SEAL)
By: /s/ C. Hatfield
-------------------------------------
No Corporate Seal Its: C. Hatfield Vice President
-------------------------------------
<PAGE>
ACKNOWLEDGEMENT OF CORPORATION
STATE OF ILLINOIS )
) SS.
COUNTY OF LAKE )
On this 30th day of September, 1997 before me, a Notary Public in and for
said State, personally appeared , known to me to be the of PNC MORTGAGE
SECURITIES CORP., one of the corporations that executed the within interest,
and also known to me to be the person who executed it on behalf of said
Corporation, and acknowledged to me that such corporation executed the within
instrument pursuant to its By-Laws or a resolution of its Board of Directors.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in the certificate first above written.
/s/ Julie A. Lucas
-------------------------------------
Notary Public
(SEAL)
<PAGE>
CERTIFICATE OF ACKNOWLEDGEMENT
STATE OF CALIFORNIA )
)SS.
COUNTY OF Los Angeles )
On this 27th 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)
--------------------------------
<PAGE>
CERTIFICATE OF ACKNOWLEDGEMENT
STATE OF MINNESOTA )
) SS.
COUNTY OF RAMSEY )
On this 30th day of January, 1998, before me, a Notary Public in and for
said State, personally appeared Christina Hatfield known to me to be the Vice
President of U.S. BANK NATIONAL ASSOCIATION, a national banking association,
one of the corporations that executed the within instrument, 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 this certificate first above written.
/s/ Deborah J. Franco
-------------------------------------
Notary Public
(SEAL)
<PAGE>
SCHEDULE I
<TABLE>
<CAPTION>
All CA Loans Current In
Loan ID Balance Reserve
<S> <C> <C>
600120089 499,769.53
600119829 486,950.89
600119673 379,308.41
600119959 423,414.49
600120041 249,670.52 yes
600119982 348,931.30
600119814 236,345.29 yes
600119684 291,575.97 yes
600119624 608,168.78 yes
600119783 279,407.58 yes
600119844 557,169.17 yes
600120045 355,700.91
600119957 393,677.49
600119738 479,302.95 yes
600119882 342,289.59 yes
600119641 237,627.56 yes
600119541 427,220.35
600119629 226,487.79 yes
600119769 332,528.41 yes
600119856 249,504.97 yes
600119685 260,657.38 yes
600119841 590,782.74 yes
600119627 662,855.98
600120112 318,402.72
600120134 299,783.54
600119897 366,695.35 yes
600119879 264,639.58 yes
600119763 270,616.22 yes
600119754 595,080.19
600120140 244,808.87
600119773 250,644.54
600119758 251,643.13 yes
600119822 394,397.02
600119739 546,322.22
600119802 549,160.41 yes
600119803 259,593.12 yes
600120223 392,243.73
600119847 983,940.86
600120033 335,238.27 yes
600118852 289,542.04
600119780 398,725.41 yes
600119580 304,756.09 yes
600120126 323,477.23 yes
600119816 557,609.22
600119868 455,678.16
600119616 311,806.07 yes
<PAGE>
600119885 547,583.02 yes
600119842 242,629.04 yes
600119790 524,233.54 yes
600119869 399,389.37 yes
600119964 535,259.82
600119953 329,772.90
600120132 318,627.97 yes
600120137 237,414.64 yes
600119807 238,812.63
600120047 259,736.55
600119901 483,151.56 yes
600120030 231,823.46 yes
600119720 292,105.41 yes
600119747 279,603.47
600120248 385,860.42
600120222 268,409.66 yes
600119988 274,800.96 yes
600119735 392,400.06 yes
600119824 280,806.61 yes
600119945 511,120.73 yes
600119838 282,784.65 yes
600119902 308,662.02 yes
600119658 314,132.73
600119942 279,776.08 yes
600120214 646,982.80 yes
600120202 356,728.34 yes
600119536 305,610.34
600120231 394,492.01
600120208 294,560.75
600119748 307,563.81
600120178 232,284.49
600120193 336,772.39
600120188 274,103.75
600119771 281,119.93 yes
600119859 254,407.34 yes
600120053 253,811.50 yes
600119615 234,317.69 yes
600119984 279,792.20 yes
600119953 299,782.86 yes
600119755 289,500.63 yes
600119820 430,541.75 yes
600119969 273,602.10 yes
600120051 438,457.69 yes
600119836 259,151.32 yes
600119813 417,112.76 yes
600120062 246,307.70 yes
600119683 227,254.19 yes
600119985 478,518.25
<PAGE>
600119710 232,036.11 yes
600119577 232,297.35
600120170 233,430.92 yes
600120172 284,893.05 yes
600119808 258,333.64 yes
600120239 303,778.77 yes
600119881 374,333.97
600119575 354,848.22 yes
600119850 282,899.83 yes
600119888 298,605.35
600119812 360,924.86
600119767 443,371.22
600119919 307,277.44
600118804 389,447.70 yes
600120056 249,360.00
600119809 379,461.86 yes
600119523 284,864.46 yes
600119876 299,771.72
600120065 384,714.27 yes
600119951 302,969.29 yes
600119950 358,933.42
600119736 254,609.43
600120198 260,720.96
600120184 264,013.52 yes
600119555 228,244.68
600120267 314,728.66 yes
600119659 277,838.42 yes
600119958 306,249.09
600120300 228,511.96 yes
600119661 314,672.08 yes
600120187 304,578.82 yes
600120128 225,431.24 yes
600119688 247,595.19
600120179 289,478.55
600120120 253,170.69
600120276 282,019.55 yes
600120191 404,029.77
600120141 319,768.39 yes
600120014 256,123.61 yes
600120113 368,114.19 yes
600120105 487,291.34 yes
600119798 335,024.87
600120255 378,875.51 yes
600119672 283,021.79 yes
600119533 249,827.95
600120016 274,301.32
600119979 256,219.03
600120173 291,844.70 yes
<PAGE>
600120230 383,495.92
600120274 641,113.46 yes
600119867 270,007.33 yes
600119840 254,001.88 yes
600119932 295,555.06 yes
600119603 399,717.68 yes
600119543 226,883.25 yes
600120186 403,339.67 yes
600120185 309,010.07 yes
600119538 808,455.50
600119544 474,209.78
600119825 357,632.68
600119762 649,517.60 yes
600119785 334,769.45 yes
600119869 306,983.18
600120279 649,563.86
600120213 368,694.30
600119775 307,030.59 yes
600119776 297,245.55 yes
600119682 245,624.45
600119675 241,273.27 yes
600120256 399,636.24
600120265 358,665.17
600120228 241,333.79 yes
600120219 263,326.56 yes
600120200 302,780.69
600120180 496,029.71 yes
600120236 339,747.67 yes
600120235 374,441.64
600120226 229,737.67
600120266 242,470.66
600120233 231,501.06 yes
600120217 281,555.28
600120258 227,522.82 yes
600120183 306,597.00 yes
600120229 296,767.95 yes
600119729 229,566.15 yes
600120232 464,124.22 yes
600120269 246,821.22
600120152 432,850.07
600120215 283,597.80 yes
600120227 255,546.61 yes
600120262 254,610.90 yes
600119955 262,232.55 yes
600119764 420,818.07
600119643 315,595.59
600120273 483,113.35 yes
600120247 351,273.90
<PAGE>
600120243 265,137.80 yes
600119980 293,402.89
600120006 418,204.82 yes
600119900 628,033.89 yes
600119926 228,995.37 yes
600119904 294,775.52
600119700 271,808.02 yes
600119883 498,387.85 yes
600120121 256,645.10
600120064 278,787.70 yes
600119800 263,813.67 yes
600120225 322,991.25 yes
600120009 391,730.22 yes
600119557 579,178.62 yes
600119547 227,103.18
600119961 599,485.82 yes
600119872 525,072.26 yes
600119873 550,219.69 yes
600119721 414,270.06 yes
600120034 436,691.56 yes
600119816 327,826.49 yes
600119983 599,587.08 yes
600120027 599,576.52 yes
600119639 422,012.66 yes
600119679 452,946.70 yes
600119967 730,892.61 yes
600119843 473,727.33
600119725 449,313.06 yes
600120052 439,689.46 yes
600119645 256,981.13 yes
600119733 506,392.34
600119724 274,804.14
600120138 265,730.44 yes
600120018 403,714.86
600120177 273,730.89 yes
600119640 271,563.67 yes
600120038 256,614.13 yes
600119863 284,596.39 yes
600119981 359,570.44 yes
600119996 288,051.63 yes
600119875 295,861.11 yes
600119772 229,829.30 yes
600119897 383,798.48
600120135 258,821.06 yes
600119962 301,092.44 yes
600120013 281,046.44 yes
600119796 292,793.20
600119837 279,002.95 yes
<PAGE>
600120044 247,223.49
600120138 238,373.78 yes
600119975 296,484.67 yes
600119631 322,342.87 yes
600119855 325,775.65
600120104 303,691.30 yes
600120142 258,441.75
600120139 522,162.37 yes
600120035 291,483.91
600119781 301,881.61
600120040 298,812.50 yes
600120109 484,295.71
600119831 249,645.94 yes
600119757 327,535.49
600119758 347,735.20 yes
600120129 399,447.63
600120115 259,473.13
600120103 488,876.44
600119911 355,269.66 yes
600120108 448,689.19
600120107 479,385.74 yes
600120122 291,766.49
600119761 382,682.58 yes
600120102 299,166.00 yes
600119753 244,487.18
600120131 237,853.15 yes
600120031 265,412.53 yes
600119999 281,513.75
600120032 233,335.20 yes
600120130 340,447.30 yes
600120124 345,755.79 yes
600119752 316,382.53
600119671 230,181.70 yes
600119891 249,419.34 yes
600120125 249,788.54
600119826 619,121.99 yes
600118871 459,348.57
600120004 599,576.53 yes
600119806 469,668.28 yes
600119973 294,796.99 yes
600119760 607,570.88
600119743 383,869.18 yes
600119887 427,685.11 yes
600119744 444,389.81 yes
600119715 303,547.35 yes
600120001 287,796.73 yes
600119768 359,490.18
600120154 349,425.86 yes
<PAGE>
600120158 229,072.62 yes
600120210 476,214.46 yes
600120201 265,297.97 yes
600120205 431,403.45
600119993 238,304.50
600120218 298,294.57
600120082 226,802.07
600119778 299,175.71
600119853 334,525.57 yes
600119797 362,367.15 yes
600119728 384,195.08 yes
600119706 378,739.17
600119637 231,687.62
600119648 284,596.39 yes
600119770 300,584.34
600119530 228,075.22 yes
600120048 372,480.21 yes
600119810 437,682.99
600119792 323,151.79
600120003 319,041.75 yes
600120216 579,590.63 yes
600120207 329,033.38 yes
600119795 424,707.51 yes
600119794 302,136.64 yes
600120022 307,090.04
600119788 610,783.18 yes
600119954 534,533.50 yes
600120221 573,145.34 yes
600119805 259,593.12 yes
600120241 239,610.39
600119585 264,651.36 yes
600119811 359,675.00 yes
600120281 331,741.00 yes
600119817 307,505.92 yes
600120289 234,909.79 yes
600119737 331,953.29
600119628 317,088.14 yes
600120268 328,243.74 yes
600120224 299,113.67
600119860 292,241.94
600119582 229,122.85
600120190 257,225.92 yes
600120234 231,197.29
600119789 259,557.87 yes
600120220 375,467.53 yes
600119647 299,575.15 yes
600119815 249,455.03 yes
600119645 283,608.74
<PAGE>
600120039 329,772.90 yes
600120005 364,742.39 yes
600119851 263,827.30
600119878 282,589.04
600119716 333,908.20 yes
600119751 367,561.67
600119857 630,066.09
600119719 492,301.83 yes
600119726 244,184.69 yes
600119578 253,621.82 yes
600119767 388,756.14 yes
600119723 455,255.09
600119722 639,116.21 yes
600119584 298,066.87 yes
600120025 321,349.12 yes
600119865 369,352.07 yes
600119750 371,473.18 yes
600120028 296,890.30 yes
600119553 498,731.63
600119971 349,752.97
600119653 246,120.72 yes
600120271 448,433.07 yes
600119834 517,817.20 yes
600119864 417,186.13 yes
600120237 411,355.25
600119784 447,365.56 yes
600119861 359,745.91 yes
600119537 484,130.53 yes
600119749 279,435.47
600119998 249,766.67 yes
600120156 227,333.60
600120204 441,190.23
600119786 374,260.94 yes
600120042 309,761.20 yes
600119664 381,723.67
600120029 369,689.58 yes
600119974 359,450.44 yes
600119566 267,810.84 yes
600119642 238,513.76 yes
600119546 229,555.81
600119745 399,695.62
600120123 239,830.61
600119793 295,591.24 yes
600120097 304,656.95 yes
600120206 295,548.15 yes
600119666 305,067.37 yes
600119777 292,257.17
600120189 316,800.65 yes
<PAGE>
600119660 252,627.97
600119732 399,419.14
600119766 299,575.15
600120169 249,819.05 yes
600119972 549,611.81 yes
600119846 399,687.96 yes
600120117 291,777.80 yes
600120110 229,277.87 yes
600120244 326,145.37 yes
600119638 281,303.91 yes
600119862 274,600.65
600119551 428,583.40
600120017 309,775.63
600119734 269,577.47 yes
600120293 355,956.54
600120095 274,580.20
600120101 267,016.11
600119759 239,830.61
600120054 274,790.74 yes
600120049 363,523.17 yes
600119791 290,799.73
600119827 337,022.04 yes
600119995 399,703.14 yes
600119774 238,031.17
600119691 229,666.00
600119801 288,395.56
600119895 246,825.67 yes
600119799 334,525.57 yes
600120026 264,798.36 yes
600120080 329,944.05 yes
600120012 279,608.33
600119823 319,145.55 yes
600119651 454,271.68
600119896 363,466.24 yes
600119727 498,293.34
600119892 392,729.54 yes
600119741 263,626.14 yes
600119898 299,575.15 yes
600119952 391,572.50
600119740 387,262.23 yes
600119906 266,991.55 yes
600119927 324,764.77 yes
600119654 331,912.86 yes
600119889 242,864.44
600120036 299,771.72 yes
600119765 254,344.45 yes
600119535 229,682.40 yes
600119708 448,226.03 yes
<PAGE>
600119730 629,107.83 yes
600119626 238,651.49 yes
600119819 251,826.57 yes
600119731 504,322.96 yes
600119858 399,717.68
600120058 300,363.14
</TABLE>
<PAGE>
Exhibit I-A-1
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-A-1
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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 Assumption 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 1998-1 Portion of the Class I-A-1 Principal Balance as of the
Cut-Off Date Evidenced by this Certificate:
$__________________________________________
Class I-A-1 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-A-1 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
I-1
<PAGE>
Exhibit I-A-1-L
MORTGAGE TRUST CERTIFICATE
Class I-A-1-L
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 January 30, 1998.
Series 1998-1 Portion of the Class I-A-1-L Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$__________________________________________
Class I-A-1-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-A-1-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
I-2
<PAGE>
Exhibit I-A-2
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-A-2
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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 Assumption 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 1998-1 Portion of the Class I-A-2 Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$__________________________________________
Class I-A-2 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-A-2 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
Certificate No. 1
I-3
<PAGE>
Exhibit I-A-2-L
MORTGAGE TRUST CERTIFICATE
Class I-A-2-L
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 January 30,
1998.
Series 1998-1 Portion of the Class I-A-2-L Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$__________________________________________
Class I-A-2-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-A-2-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
I-4
<PAGE>
Exhibit I-A-3
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-A-3
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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 Assumption 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 1998-1 Portion of the Class I-A-3 Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$__________________________________________
Class I-A-3 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-A-3 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Certificate No. 1
I-5
<PAGE>
Exhibit I-A-3-L
MORTGAGE TRUST CERTIFICATE
Class I-A-3-L
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 January 30,
1998.
Series 1998-1 Portion of the Class I-A-3-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$__________________________________________
Class I-A-3-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-A-3-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
I-6
<PAGE>
Exhibit I-B-1
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-B-1
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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
January 30, 1998. The rate at which interest is payable as of the Issue Date
with respect to this Certificate is 7.000% per annum.
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 1998-1 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: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-B-1 Principal Balance
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
I-7
<PAGE>
Exhibit I-B-1-L
MORTGAGE TRUST CERTIFICATE
Class I-B-1-L
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
January 30, 1998.
Series 1998-1 Portion of the Class I-B-1-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class I-B-1-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-B-1-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
I-8
<PAGE>
Exhibit I-B-2
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-B-2
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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
January 30, 1998. 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
Assumption 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 1998-1 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: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-B-2 Principal Balance
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
I-9
<PAGE>
Exhibit I-B-2-L
MORTGAGE TRUST CERTIFICATE
Class I-B-2-L
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
January 30, 1998.
Series 1998-1 Portion of the Class I-B-2-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class I-B-2-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-B-2-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
I-10
<PAGE>
Exhibit I-B-3
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-B-3
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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 Assumption 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 1998-1 Portion of the Class I-B-3 Principal Balance
as of the Cut-Off Date Evidenced by this
Certificate:
$_________________________________________
Class I-B-3 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-B-3 Principal Balance
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
I-11
<PAGE>
Exhibit I-B-3-L
MORTGAGE TRUST CERTIFICATE
Class I-B-3-L
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 January 30,
1998.
Series 1998-1 Portion of the Class I-B-3-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class I-B-3-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-B-3-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
I-12
<PAGE>
Exhibit I-B-4
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-B-4
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 "Date") of this Certificate is January 30, 1998.
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 Assumption 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 SECURITIES
REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR
THE AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT OF 1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE
POOLING AGREEMENT.
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 1998-1 Portion of the Class I-B-4 Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$___________________________________
Class I-B-4 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-B-4 Principal Balance
as of the Cut-Off Date: $[ ]
____________________
I-13
<PAGE>
Registered Owner Certificate No._____________
I-14
<PAGE>
Exhibit I-B-4-L
MORTGAGE TRUST CERTIFICATE
Class I-B-4-L
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 "Date") of this Certificate is January 30, 1998.
Series 1998-1 Portion of the Class I-B-4-L Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$_____________________________________
Class I-B-4-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-B-4-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
I-15
<PAGE>
Exhibit I-B-5
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-B-5
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 "Date") of this Certificate is January 30,
1998. 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 Assumption 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
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE POOLING AGREEMENT.
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 1998-1 Portion of the Class I-B-5 Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$_________________________________
Class I-B-5 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-B-5 Principal Balance
as of the Cut-Off Date: $[ ]
____________________
I-16
<PAGE>
Registered Owner Certificate No.___________
I-17
<PAGE>
Exhibit I-B-5-L
MORTGAGE TRUST CERTIFICATE
Class I-B-5-L
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 "Date") of this Certificate is January 30,
1998.
Series 1998-1 Portion of the Class I-B-5-L Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$_________________________________
Class I-B-5-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-B-5-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
I-18
<PAGE>
Exhibit I-B-6
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-B-6
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 "Date") of this Certificate is January 30,
1998. 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 Assumption 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
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE POOLING AGREEMENT.
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 1998-1 Portion of the Class I-B-6 Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$_____________________________________
Class I-B-6 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-B-6 Principal Balance
as of the Cut-Off Date: $[ ]
____________________
I-19
<PAGE>
Registered Owner Certificate No.____________
I-20
<PAGE>
Exhibit I-B-6-L
MORTGAGE TRUST CERTIFICATE
Class I-B-6-L
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 "Date") of this Certificate is January 30, 1998.
Series 1998-1 Portion of the Class I-B-6-L Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$______________________________________
Class I-B-6-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-B-6-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
I-21
<PAGE>
Exhibit I-X
CUSIP
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-X
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 January 30, 1998. 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 1998-1 Portion of the Class I-X Notional Amount as
of the
Cut-Off Date Evidenced by this Certificate:
$_________________________________________
Class I-X Remittance Rate: 7.000% applied
to the Class I-X Notional Amount
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-X Principal Balance
as of the Cut-Off Date: $0.00
Class I-X Notional Amount
as of the Cut-Off Date: $[ ]
________________ Certificate No. ____________
Registered Owner
I-22
<PAGE>
Exhibit I-X-L
MORTGAGE TRUST CERTIFICATE
Class I-X-L
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 January 30, 1998.
Series 1998-1 Portion of the Class I-X-L Notional Amount
as of the Cut-Off Date Evidenced by this
Certificate:
$_________________________________________
Class I-X-L Remittance Rate: 7.000%
applied to the Class I-X-L Notional Amount
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-X-L Principal Balance
as of the Cut-Off Date: $0.00
Class I-X-L Notional Amount
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
I-23
<PAGE>
Exhibit I-P
CUSIP
MORTGAGE PASS-THROUGH CERTIFICATE
Class I-P
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 January 30, 1998. 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 1998-1 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: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-P Principal Balance as of the Cut-Off Date:
________________ Certificate No. _______________
Registered Owner
I-24
<PAGE>
Exhibit I-P-L
MORTGAGE TRUST CERTIFICATE
Class I-P-L
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 January 30, 1998. Interest is
not payable with respect to this Certificate.
Series 1998-1 Portion of the Class I-P-L Principal Balance as
of the Cut-Off Date evidenced by this
Certificate:
$_______________________________________________
Class I-P-L Remittance Rate: 0.00%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class I-P-L Principal Balance as of the Cut-Off Date:
U.S. Bank National Association
Certificate No. 1
I-25
<PAGE>
Exhibit II-A-1
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-1
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998.
[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.]
THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE POOLING AGREEMENT.
Series 1998-1 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: Based on the following six Components: (i)
Component II-A-1-1: 0.00%; (ii) Component II-A-1-2 Remittance Rate: 7.150%
applied to the Component II-A-1-2 Principal Balance; (iii) Component II-A-1-3
Remittance Rate: 7.150% applied to the Component II-A-1-3 Notional Amount; (iv)
Component II-A-1-4 Remittance Rate: 0.00%; (v) Component II-A-1-5 Remittance
Rate: 7.000% applied to the Component II-A-1-5 Principal Balance; and (vi)
Component II-A-1-6 Remittance Rate: 7.000% applied to the Component II-A-1-6
Notional Amount
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-1 Principal Balance as of the Cut-Off Date:
__________________ Certificate No. ________
Registered Owner
II-1
<PAGE>
Exhibit II-A-1-L
MORTGAGE TRUST CERTIFICATE
Class II-A-1-L
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 January 30,
1998.
Series 1998-1 Portion of the Class II-A-1-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$__________________________________________
Class II-A-1-L Remittance Rate: Based on the following five Components: (i)
Component II-A-1-1-L: 0.00%; (ii) Component II-A-1-2-L Remittance Rate: 7.150%
applied to the Component II-A-1-2-L Principal Balance; (iii) Component II-A-1-4-
L Remittance Rate: 0.00%; (v) Component II-A-1-5-L Remittance Rate: 7.000%
applied to the Component II-A-1-5-L Principal Balance; and (vi) Component II-A-
1-6-L Remittance Rate: 7.000% applied to the Component II-A-1-6-L Notional
Amount
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-1-L Principal Balance as of the Cut-Off Date:.
U.S. Bank National Association
Certificate No. 1
II-2
<PAGE>
Exhibit II-A-2
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-2
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30, 1998. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is 6.950% 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 Assumption or any other
rate.]
Series 1998-1 Portion of the Class II-A-2 Notional Amount
as of the Cut-Off Date Evidenced by this
Certificate:
$__________________________________________
Class II-A-2 Remittance Rate: 6.950% on the Class II-A-2 Notional Amount
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-2 Principal Balance as of the Cut-Off Date: $0.00
Class II-A-2 Notional Amount as of the Cut-Off Date: $
__________________ Certificate No. ________
Registered Owner
II-3
<PAGE>
Exhibit II-A-3
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-3
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30, 1998. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is 7.150% 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 Assumption 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 1998-1 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: 7.150%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-3 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
II-4
<PAGE>
Exhibit II-A-3-L
MORTGAGE TRUST CERTIFICATE
Class II-A-3-L
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 January 30,
1998.
Series 1998-1 Portion of the Class II-A-3-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_____________________________________
Class II-A-3-L Remittance Rate: ______%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-3-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-5
<PAGE>
Exhibit II-A-4
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-4
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. The rate at which interest is payable as of the Issue Date with respect
to this Certificate is 7.150% 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 Assumption 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 1998-1 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: 7.150%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-4 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
II-6
<PAGE>
Exhibit II-A-4-L
MORTGAGE TRUST CERTIFICATE
Class II-A-4-L
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 January 30,
1998.
Series 1998-1 Portion of the Class II-A-4-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$__________________________________________
Class II-A-4-L Remittance Rate: _____%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-4-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-7
<PAGE>
Exhibit II-A-5
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-5
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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., 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 Assumption 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 1998-1 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: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-5 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
II-8
<PAGE>
Exhibit II-A-5-L
MORTGAGE TRUST CERTIFICATE
Class II-A-5-L
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 January 30, 1998.
Series 1998-1 Portion of the Class II-A-5-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$__________________________________________
Class II-A-5-L Remittance Rate: _____%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-5-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-9
<PAGE>
Exhibit II-A-6
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-6
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. The rate at which interest is payable as of the Issue Date with respect
to this Certificate is 6.500% 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 Assumption
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 1998-1 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: 6.500%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-6 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
II-10
<PAGE>
Exhibit II-A-6-L
MORTGAGE TRUST CERTIFICATE
Class II-A-6-L
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 January 30,
1998.
Series 1998-1 Portion of the Class II-A-6-L Principal
Balance as of the Cut-Off Date Evidenced
by this Certificate:
$_______________________________________
Class II-A-6-L Remittance Rate: ____%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-6-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-11
<PAGE>
Exhibit II-A-7
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-7
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. The rate at which interest is payable as of the Issue Date with respect
to this Certificate is 7.150% 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 Assumption 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 1998-1 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: 7.150%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-7 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
II-12
<PAGE>
Exhibit II-A-7-L
MORTGAGE TRUST CERTIFICATE
Class II-A-7-L
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 January 30,
1998.
Series 1998-1 Portion of the Class II-A-7-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$________________________________________
Class II-A-7-L Remittance Rate: ___%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-7-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-13
<PAGE>
Exhibit II-A-8
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-8
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. The rate at which interest is payable as of the Issue Date with respect
to this Certificate is 6.500% 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 Assumption 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 1998-1 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: 6.500%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-8 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
II-14
<PAGE>
Exhibit II-A-8-L
MORTGAGE TRUST CERTIFICATE
Class II-A-8-L
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 January 30,
1998.
Series 1998-1 Portion of the Class II-A-8-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class II-A-8-L Remittance Rate: ____%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-8-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-15
<PAGE>
Exhibit II-A-9
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-9
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. The rate at which interest is payable as of the Issue Date with respect
to this Certificate is 6.500% 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 Assumption 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 1998-1 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: 6.500%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-9 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
II-16
<PAGE>
Exhibit II-A-9-L
MORTGAGE TRUST CERTIFICATE
Class II-A-9-L
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 January 30,
1998.
Series 1998-1 Portion of the Class II-A-9-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$__________________________________________
Class II-A-9-L Remittance Rate: _____%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-9-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-17
<PAGE>
Exhibit II-A-10
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-10
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30, 1998. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is 6.500% 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 Assumption 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 1998-1 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: 6.500%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-10 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co
Registered Owner
II-18
<PAGE>
Exhibit II-A-10-L
MORTGAGE TRUST CERTIFICATE
Class II-A-10-L
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 January 30,
1998.
Series 1998-1 Portion of the Class II-A-10-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class II-A-10-L Remittance Rate: _____%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-A-10-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-19
<PAGE>
Exhibit II-A-11
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-A-11
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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., 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 Assumption or any
other rate.]
Series 1998-1 Portion of the Class II-A-11 Notional Amount
as of the Cut-Off Date Evidenced by this
Certificate:
$_________________________________________
Class II-A-11 Remittance Rate: 6.750% on the Class II-A-11 Notional Amount
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: [October 25, 2027]
Class II-A-11 Principal Balance as of the Cut-Off Date: $0.00
Class II-A-11 Notional Amount as of the Cut-Off Date: $[ ]
__________________ Certificate No. _____________
Registered Owner
II-20
<PAGE>
Exhibit II-B-1
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-B-1
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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 Assumption 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 1998-1 Portion of the Class II-B-1 Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class II-B-1 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-B-1 Principal Balance
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
II-21
<PAGE>
Exhibit II-B-1-L
MORTGAGE TRUST CERTIFICATE
Class II-B-1-L
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 January 30,
1998.
Series 1998-1 Portion of the Class II-B-1-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class II-B-1-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-B-1-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-22
<PAGE>
Exhibit II-B-2
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-B-2
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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 Assumption 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 1998-1 Portion of the Class II-B-2 Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class II-B-2 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-B-2 Principal Balance
as of the Cut-Off Date: $[ ]
_________________________ Certificate No. _________
Registered Owner
II-23
<PAGE>
Exhibit II-B-2-L
MORTGAGE TRUST CERTIFICATE
Class II-B-2-L
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 January 30,
1998.
Series 1998-1 Portion of the Class II-B-2-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class II-B-2-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-B-2-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-24
<PAGE>
Exhibit II-B-3
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-B-3
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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 Assumption 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 1998-1 Portion of the Class II-B-3 Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class II-B-3 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-B-3 Principal Balance
as of the Cut-Off Date: $[ ]
________________________ Certificate No. _________
Registered Owner
II-25
<PAGE>
Exhibit II-B-3-L
MORTGAGE TRUST CERTIFICATE
Class II-B-3-L
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
January 30, 1998.
Series 1998-1 Portion of the Class II-B-3-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class II-B-3-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-B-3-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-26
<PAGE>
Exhibit II-B-4
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-B-4
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 "Date") of this Certificate is January 30,
1998. 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
Assumption 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
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE POOLING AGREEMENT.
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 1998-1 Portion of the Class II-B-4 Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$____________________________________
Class II-B-4 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-B-4 Principal Balance
as of the Cut-Off Date: $[ ]
____________________
II-27
<PAGE>
Registered Owner Certificate No._____________
II-28
<PAGE>
Exhibit II-B-4-L
MORTGAGE TRUST CERTIFICATE
Class II-B-4-L
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 "Date") of this Certificate is January 30,
1998. The rate at which interest is payable as of the Issue Date with respect
to this Certificate is 7.000% per annum.
Series 1998-1 Portion of the Class II-B-4-L Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$____________________________________
Class II-B-4-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-B-4-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-29
<PAGE>
Exhibit II-B-5
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-B-5
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 "Date") of this Certificate is January 30,
1998. 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 Assumption 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
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE POOLING AGREEMENT.
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 1998-1 Portion of the Class II-B-5
Principal Balance as of the
Cut-Off Date Evidenced by this
Certificate: $__________________
Class II-B-5 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-B-5 Principal Balance
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _____________
Registered Owner
II-30
<PAGE>
II-31
<PAGE>
Exhibit II-B-5-L
MORTGAGE TRUST CERTIFICATE
Class II-B-5-L
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 "Date") of this Certificate is January 30, 1998.
Series 1998-1 Portion of the Class II-B-5-L Principal
Balance as of the Cut-Off Date Evidenced
by this Certificate: $__________________
Class II-B-5-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-B-5-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-32
<PAGE>
Exhibit II-B-6
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-B-6
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 "Date") of this Certificate is January 30, 1998.
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 Assumption 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
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED,
SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF
REGISTRATION OR THE AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER
THE SECURITIES ACT OF 1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e)
OF THE POOLING AGREEMENT.
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 1998-1 Portion of the Class II-B-6 Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$_____________________________________
Class II-B-6 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-B-6 Principal Balance
as of the Cut-Off Date: $[ ]
__________________
II-33
<PAGE>
Registered Owner Certificate No.__________
II-34
<PAGE>
Exhibit II-B-6-L
MORTGAGE TRUST CERTIFICATE
Class II-B-6-L
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 "Date") of this Certificate is January 30,
1998.
Series 1998-1 Portion of the Class II-B-6-L Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$______________________________________
Class II-B-6-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-B-6-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-35
<PAGE>
Exhibit II-X
CUSIP
MORTGAGE PASS-THROUGH CERTIFICATE
Class II-X
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30, 1998. 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 1998-1 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: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-X Principal Balance
as of the Cut-Off Date: $0.00
Class II-X Notional Amount
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
II-36
<PAGE>
Exhibit II-X-L
MORTGAGE TRUST CERTIFICATE
Class II-X-L
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 January 30,
1998.
Series 1998-1 Portion of the Class II-X-L Notional Amount
as of the Cut-Off Date Evidenced by this
Certificate:
$_________________________________________
Class II-X-L Remittance Rate: 7.000%
applied to the Class II-X-L Notional Amount
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class II-X-L Principal Balance
as of the Cut-Off Date: $0.00
Class II-X-L Notional Amount
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
II-37
<PAGE>
Exhibit III-A-1
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-A-1
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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., 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 Assumption 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 1998-1 Portion of the Class III-A -1Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$__________________________________________
Class III-A-1 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-A-1Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
III-1
<PAGE>
Exhibit III-A-1-L
MORTGAGE TRUST CERTIFICATE
Class III-A-1-L
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 January 30,
1998.
Series 1998-1 Portion of the Class III-A-1-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$__________________________________________
Class III-A-1-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-A-1-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
III-2
<PAGE>
Exhibit III-B-1
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-B-1
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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
January 30, 1998. 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., 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 Assumption 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 1998-1 Portion of the Class III-B-1 Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class III-B-1 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-B-1 Principal Balance
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
III-3
<PAGE>
Exhibit III-B-1-L
MORTGAGE TRUST CERTIFICATE
Class III-B-1-L
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 January 30,
1998.
Series 1998-1 Portion of the Class III-B-1-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class III-B-1-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-B-1-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
III-4
<PAGE>
Exhibit III-B-2
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-B-2
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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., 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 Assumption 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 1998-1 Portion of the Class III-B-2 Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class III-B-2 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-B-2 Principal Balance
as of the Cut-Off Date: $[ ]
_________________ Certificate No. ____________
Registered Owner
III-5
<PAGE>
Exhibit III-B-2-L
MORTGAGE TRUST CERTIFICATE
Class III-B-2-L
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 January 30,
1998.
Series 1998-1 Portion of the Class III-B-2-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class III-B-2-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-B-2-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
III-6
<PAGE>
Exhibit III-B-3
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-B-3
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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., 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 Assumption 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 1998-1 Portion of the Class III-B-3 Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class III-B-3 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-B-3 Principal Balance
as of the Cut-Off Date: $[ ]
___________________ Certificate No. ____________
Registered Owner
III-7
<PAGE>
Exhibit III-B-3-L
MORTGAGE TRUST CERTIFICATE
Class III-B-3-L
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 January 30,
1998.
Series 1998-1 Portion of the Class III-B-3-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class III-B-3-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-B-3-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
III-8
<PAGE>
Exhibit III-B-4
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-B-4
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 "Date") of this Certificate is January 30, 1998.
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., 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 Assumption 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
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE POOLING AGREEMENT.
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 1998-1 Portion of the Class III-B-4 Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$_____________________________________
Class III-B-4 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-B-4 Principal Balance
as of the Cut-Off Date: $[ ]
_________________
III-9
<PAGE>
Registered Owner Certificate No. ____________
III-10
<PAGE>
Exhibit III-B-4-L
MORTGAGE TRUST CERTIFICATE
Class III-B-4-L
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 "Date") of this Certificate is January 30,
1998.
Series 1998-1 Portion of the Class III-B-4-L
Principal Balance as of the
Cut-Off Date Evidenced by this
Certificate:
$_____________________________
Class III-B-4-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-B-4-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
III-11
<PAGE>
Exhibit III-B-5
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-B-5
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 "Date") of this Certificate is January 30, 1998.
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., 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 Assumption 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
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE POOLING AGREEMENT.
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 1998-1 Portion of the Class III-B-5
Principal Balance as of the
Cut-Off Date Evidenced by this
Certificate:
$_____________________________
Class III-B-5 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-B-5 Principal Balance
as of the Cut-Off Date: $[ ]
__________________________
III-12
<PAGE>
Registered Owner Certificate No. ____________
III-13
<PAGE>
Exhibit III-B-5-L
MORTGAGE TRUST CERTIFICATE
Class III-B-5-L
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 "Date") of this Certificate is January 30,
1998.
Series 1998-1 Portion of the Class III-B-5-L
Principal Balance as of the
Cut-Off Date Evidenced by this
Certificate:
$_____________________________
Class III-B-5-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-B-5-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
III-14
<PAGE>
Exhibit III-B-6
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-B-6
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 "Date") of this Certificate is January 30, 1998.
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., 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 Assumption 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
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE POOLING AGREEMENT.
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 1998-1 Portion of the Class III-B-6
Principal Balance as of the
Cut-Off Date Evidenced by this
Certificate:
$_____________________________
Class III-B-6 Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-B-6 Principal Balance
as of the Cut-Off Date: $[ ]
_____________________________
III-15
<PAGE>
Registered Owner Certificate No. ____________
III-16
<PAGE>
Exhibit III-B-6-L
MORTGAGE TRUST CERTIFICATE
Class III-B-6-L
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 "Date") of this Certificate is January 30,
1998.
Series 1998-1 Portion of the Class III-B-6-L
Principal Balance as of the
Cut-Off Date Evidenced by this
Certificate:
$_____________________________
Class III-B-6-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-B-6-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
III-17
<PAGE>
Exhibit III-X
CUSIP
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-X
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30, 1998. 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., 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 1998-1 Portion of the Class III-X Notional
Amount as of the Cut-Off Date
Evidenced by this Certificate:
$___________________________________
Class III-X Remittance Rate: 7.000%
applied to the Class III-X Notional Amount
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-X Principal Balance
as of the Cut-Off Date: $0.00
Class III-X Notional Amount
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
III-18
<PAGE>
Exhibit III-X-L
MORTGAGE TRUST CERTIFICATE
Class III-X-L
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 January 30,
1998.
Series 1998-1 Portion of the Class III-X-L Notional
Amount as of the Cut-Off Date
Evidenced by this Certificate:
$____________________________________
Class III-X-L Remittance Rate: 7.000%
applied to the Class III-X Notional Amount
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-X-L Principal Balance
as of the Cut-Off Date: $0.00
Class III-X-L Notional Amount
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
III-19
<PAGE>
Exhibit III-P
CUSIP
MORTGAGE PASS-THROUGH CERTIFICATE
Class III-P
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30, 1998. 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 1998-1 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: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-P Principal Balance as of the Cut-Off Date:
____________________
Registered Owner Certificate No._______
III-20
<PAGE>
Exhibit III-P-L
MORTGAGE TRUST CERTIFICATE
Class III-P-L
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 January 30,
1998.
Series 1998-1 Portion of the Class III-P-L Principal
Balance as of the Cut-Off Date
evidenced by this Certificate:
Class III-P-L Remittance Rate: 0.00% $_____________________________________
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: January 25, 2028
Class III-P-L Principal Balance as of the Cut-Off Date:
U.S. Bank National Association
Certificate No. 1
III-21
<PAGE>
Exhibit IV-A-1
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class IV-A-1
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 January 30, 1998. 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., 230% 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 Assumption 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 1998-1 Portion of the Class IV-A-1 Principal Balance as
of the Cut-Off Date Evidenced by this Certificate:
$__________________________________________
Class IV-A-1 Remittance Rate: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-A-1 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
IV-1
<PAGE>
Exhibit IV-A-1-L
MORTGAGE TRUST CERTIFICATE
Class IV-A-1-L
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 January 30, 1998.
Series 1998-1 Portion of the Class IV-A-1-L Principal Balance as
of the Cut-Off Date Evidenced by this Certificate:
$__________________________________________
Class IV-A-1-L Remittance Rate: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-A-1-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
IV-2
<PAGE>
Exhibit IV-B-1
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class IV-B-1
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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., 230% 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 Assumption or any other rate.]
IN THE CASE OF ANY CLASS IV-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 IV-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 IV-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 1998-1 Portion of the Class IV-B-1 Principal Balance as
of the Cut-Off Date Evidenced by this Certificate:
$_________________________________________
Class IV-B-1 Remittance Rate: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-B-1 Principal Balance
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
IV-3
<PAGE>
Exhibit IV-B-1-L
MORTGAGE TRUST CERTIFICATE
Class IV-B-1-L
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 January 30,
1998.
Series 1998-1 Portion of the Class IV-B-1-L Principal Balance as
of the Cut-Off Date Evidenced by this Certificate:
$_________________________________________
Class IV-B-1-L Remittance Rate: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-B-1-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
IV-4
<PAGE>
Exhibit IV-B-2
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class IV-B-2
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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., 230% 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 Assumption or any other rate.]
IN THE CASE OF ANY CLASS IV-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 IV-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 IV-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 1998-1 Portion of the Class IV-B-2 Principal Balance as
of the Cut-Off Date Evidenced by this Certificate:
$_________________________________________
Class IV-B-2 Remittance Rate: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-B-2 Principal Balance
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
IV-5
<PAGE>
Exhibit IV-B-2-L
MORTGAGE TRUST CERTIFICATE
Class IV-B-2-L
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 January 30,
1998.
Series 1998-1 Portion of the Class IV-B-2-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class IV-B-2-L Remittance Rate: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-B-2-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
IV-6
<PAGE>
Exhibit IV-B-3
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class IV-B-3
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 January 30,
1998. 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., 230% 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 Assumption or any other rate.]
IN THE CASE OF ANY CLASS IV-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 IV-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 IV-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 1998-1 Portion of the Class IV-B-3 Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class IV-B-3 Remittance Rate: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-B-3 Principal Balance
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
IV-7
<PAGE>
Exhibit IV-B-3-L
MORTGAGE TRUST CERTIFICATE
Class IV-B-3-L
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 January 30,
1998.
Series 1998-1 Portion of the Class IV-B-3-L Principal
Balance as of the Cut-Off Date Evidenced by
this Certificate:
$_________________________________________
Class IV-B-3-L Remittance Rate: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-B-3-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
IV-8
<PAGE>
Exhibit IV-B-4
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class IV-B-4
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 "Date") of this Certificate is January 30, 1998.
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., 230% 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 Assumption or any other rate.]
IN THE CASE OF ANY CLASS IV-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 IV-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
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE POOLING AGREEMENT.
The Class IV-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 1998-1 Portion of the Class IV-B-4 Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$______________________________________
Class IV-B-4 Remittance Rate: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-B-4 Principal Balance
as of the Cut-Off Date: $[ ]
___________________
IV-9
<PAGE>
Registered Owner Certificate No. ______________
IV-10
<PAGE>
Exhibit IV-B-4-L
MORTGAGE TRUST CERTIFICATE
Class IV-B-4-L
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 "Date") of this Certificate is January 30, 1998.
Series 1998-1 Portion of the Class IV-B-4-L Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$______________________________________
Class IV-B-4-L Remittance Rate: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-B-4-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
IV-11
<PAGE>
Exhibit IV-B-5
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class IV-B-5
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 "Date") of this Certificate is January 30, 1998.
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., 230% 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 Assumption or any other rate.]
IN THE CASE OF ANY CLASS IV-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 IV-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
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE POOLING AGREEMENT.
The Class IV-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 1998-1 Portion of the Class IV-B-5 Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$______________________________________
Class IV-B-5 Remittance Rate: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-B-5 Principal Balance
as of the Cut-Off Date: $[ ]
____________________
IV-12
<PAGE>
Registered Owner Certificate No.______________
IV-13
<PAGE>
Exhibit IV-B-5-L
MORTGAGE TRUST CERTIFICATE
Class IV-B-5-L
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 "Date") of this Certificate is January 30, 1998.
Series 1998-1 Portion of the Class IV-B-5-L Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$______________________________________
Class IV-B-5-L Remittance Rate: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-B-5-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
IV-14
<PAGE>
Exhibit IV-B-6
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class IV-B-6
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 "Date") of this Certificate is January 30, 1998.
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., 230% 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 Assumption or any other rate.]
IN THE CASE OF ANY CLASS IV-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 IV-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
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE POOLING AGREEMENT.
The Class IV-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 1998-1 Portion of the Class IV-B-6 Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$______________________________________
Class IV-B-6 Remittance Rate: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-B-6 Principal Balance
as of the Cut-Off Date: $[ ]
___________________
IV-15
<PAGE>
Registered Owner Certificate No. _____________
IV-16
<PAGE>
Exhibit IV-B-6-L
MORTGAGE TRUST CERTIFICATE
Class IV-B-6-L
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 "Date") of this Certificate is January 30, 1998.
Series 1998-1 Portion of the Class IV-B-6-L Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$______________________________________
Class IV-B-6-L Remittance Rate: 6.750%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-B-6-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
IV-17
<PAGE>
Exhibit IV-X
CUSIP
MORTGAGE PASS-THROUGH CERTIFICATE
Class IV-X
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in 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 January 30, 1998. 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., 230% 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 1998-1 Portion of the Class IV-X Notional Amount as of the
Cut-Off Date Evidenced by this Certificate:
$_________________________________________
Class III-X Remittance Rate: 6.750%
applied to the Class IV-X Notional Amount
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-X Principal Balance
as of the Cut-Off Date: $0.00
Class IV-X Notional Amount
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
IV-18
<PAGE>
Exhibit IV-X-L
MORTGAGE TRUST CERTIFICATE
Class IV-X-L
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 January 30,
1998.
Series 1998-1 Portion of the Class IV-X-L Notional
Amount as of the Cut-Off Date Evidenced
by this Certificate:
$______________________________________
Class III-X-L Remittance Rate: 6.750%
applied to the Class IV-X-L Notional Amount
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-X-L Principal Balance as of the
Cut-Off Date: $0.00
Class IV-X-L Notional Amount
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
IV-19
<PAGE>
Exhibit IV-P
CUSIP
MORTGAGE PASS-THROUGH CERTIFICATE
Class IV-P
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in 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 January 30, 1998. 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., 230% 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 1998-1 Portion of the Class IV-P Principal Balance
as of the Cut-Off Date evidenced by this
Certificate:
Class IV-P Remittance Rate: 0.00% $__________________________________________
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-P Principal Balance as of the Cut-Off Date:
____________________
Registered Owner Certificate No._______
IV-20
<PAGE>
Exhibit IV-P-L
MORTGAGE TRUST CERTIFICATE
Class IV-P-L
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 January 30,
1998.
Series 1998-1 Portion of the Class IV-P-L Principal
Balance as of the Cut-Off Date evidenced
by this Certificate:
Class IV-P-L Remittance Rate: 0.00% $________________________________________
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: March 25, 2013
Class IV-P-L Principal Balance as of the Cut-Off Date:
U.S. Bank National Association
Certificate No. 1
IV-21
<PAGE>
Exhibit V-A-1
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-A-1
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in a
trust fund whose assets consist of, among other things, Group V Trust
Certificates evidencing interests in 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 January 30, 1998. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is ________%. [Assuming that the Mortgage Loans underlying the Certificates
prepay at the prepayment assumption used by the issuer in pricing this
Certificate (I.E., 265% 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 1998-1 Portion of the Class V-A-1 Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$___________________________________
Class V-A-1 Remittance Rate: The Group V Weighted Average Rate minus __________
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-1 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
V-1
<PAGE>
Exhibit V-A-1-L
MORTGAGE TRUST CERTIFICATE
Class V-A-1-L
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Group V Trust Certificates evidencing interests in 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 January 30,
1998.
Series 1998-1 Portion of the Class V-A-1-L Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$_____________________________________
Class V-A-1-L Remittance Rate: ______________.
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-1-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
V-2
<PAGE>
Exhibit V-A-2
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-A-2
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in a trust fund
whose assets consist of, among other things, Group V Trust Certificates
evidencing interests in 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 January 30, 1998. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is ______________%. [Assuming that the Mortgage Loans underlying the
Certificates prepay at the prepayment assumption used by the issuer in pricing
this Certificate (I.E., 265% 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 1998-1 Portion of the Class V-A-2 Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$__________________________________________
Class V-A-2 Remittance Rate: The Group V Weighted Average Rate minus___________%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-2 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
V-3
<PAGE>
Exhibit V-A-2-L
MORTGAGE TRUST CERTIFICATE
Class V-A-2-L
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Group V Trust Certificates evidencing interests in 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 January 30, 1998.
Series 1998-1 Portion of the Class V-A-2-L Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$__________________________________________
Class V-A-2-L Remittance Rate: Variable
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-2-L Principal Balance
as of the Cut-Off Date:
U.S. Bank National Association
Certificate No. 1
V-4
<PAGE>
Exhibit V-A-3
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-A-3
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in a trust fund
whose assets consist of, among other things, Group V Trust Certificates
evidencing interests in 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 January 30, 1998. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is __________%. [Assuming that the Mortgage Loans underlying the Certificates
prepay at the prepayment assumption used by the issuer in pricing this
Certificate (I.E., 265% 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 1998-1 Portion of the Class V-A-3 Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$__________________________________________
Class V-A-3 Remittance Rate: The Group V Weighted Average Rate minus _________%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-3 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
V-5
<PAGE>
Exhibit V-A-3-L
MORTGAGE TRUST CERTIFICATE
Class V-A-3-L
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Group V Trust Certificates evidencing interests in 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 January 30, 1998.
Series 1998-1 Portion of the Class V-A-3-L Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$__________________________________________
Class V-A-3-L Remittance Rate: Variable
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-3-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
V-6
<PAGE>
Exhibit V-A-4
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-A-4
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in a trust fund
whose assets consist of, among other things, Group V Trust Certificates
evidencing interests in 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 January 30, 1998. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is _______%. [Assuming that the Mortgage Loans underlying the Certificates
prepay at the prepayment assumption used by the issuer in pricing this
Certificate (I.E., 265% 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 1998-1 Portion of the Class V-A-4 Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$__________________________________________
Class V-A-4 Remittance Rate: The Group V Weighted Average Rate minus 0.200%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-4 Principal Balance
as of the Cut-Off Date: $[ ]
Cede & Co.
Registered Owner
V-7
<PAGE>
Exhibit V-A-4-L
MORTGAGE TRUST CERTIFICATE
Class V-A-4-L
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Group V Trust Certificates evidencing interests in 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 January 30,
1998.
Series 1998-1 Portion of the Class V-A-4-L Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$_____________________________________
Class V-A-4-L Remittance Rate: The Group V Weighted Average Rate
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-4-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
V-8
<PAGE>
Exhibit V-A-5
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-A-5
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in a
trust fund whose assets consist of, among other things, Group V Trust
Certificates evidencing interests in 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 January 30, 1998. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is ____________%. [Assuming that the Mortgage Loans underlying the
Certificates prepay at the prepayment assumption used by the issuer in pricing
this Certificate (I.E., 265% 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 1998-1 Portion of the Class V-A-5 Notional
Amount as of the Cut-Off Date
Evidenced by this Certificate:
$__________________________________
Class V-A-5 Remittance Rate: _________%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-5 Notional Amount
as of the Cut-Off Date: $[ ]
Certificate No_____
Registered Owner_____________________________
V-9
<PAGE>
Exhibit V-A-6
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-A-6
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in a
trust fund whose assets consist of, among other things, Group V Trust
Certificates evidencing interests in 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 January 30,
1998. The rate at which interest is payable as of the Issue Date with respect
to this Certificate is 0.200%.
[Assuming that the Mortgage Loans underlying the Certificates prepay at the
prepayment assumption used by the issuer in pricing this Certificate (i.e.,
265% 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 Assumption or any other rate.]
IN THE CASE OF ANY CLASS V-A-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 V-A-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 V-A-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 1998-1 Portion of the Class V-A-6 Notional
Amount as of the Cut-Off Date
Evidenced by this Certificate:
$__________________________________
Class V-A-6 Remittance Rate: 0.200%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-6 Principal Balance
as of the Cut-Off Date: $0.00
Class V-A-6 Notional Amount
as of the Cut-Off Date: $[ ]
Certificate No_____
V-10
<PAGE>
Registered Owner_____________________________
V-11
<PAGE>
Exhibit V-A-7
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-A-7
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates evidencing interests in a
trust fund whose assets consist of, among other things, Group V Trust
Certificates evidencing interests in 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 January 30, 1998. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is _________. [Assuming that the Mortgage Loans underlying the Certificates
prepay at the prepayment assumption used by the issuer in pricing this
Certificate (i.e., 265% 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 Assumption 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 1998-1 Portion of the Class V-A-7 Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$___________________________________
Class V-A-7 Remittance Rate: Variable
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-7 Principal Balance
as of the Cut-Off Date:
Cede & Co.
Registered Owner
V-12
<PAGE>
Exhibit V-A-7-L
MORTGAGE TRUST CERTIFICATE
Class V-A-7-L
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Group V Trust Certificates evidencing interests in 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 January 30,
1998.
Series 1998-1 Portion of the Class V-A-7-L Principal
Balance as of the Cut-Off Date
Evidenced by this Certificate:
$_____________________________________
Class V-A-7-L Remittance Rate: ______________
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-7-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
V-13
<PAGE>
Exhibit V-A-8
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-A-8
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in a trust fund
whose assets consist of, among other things, Group V Trust Certificates
evidencing interests in 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 January 30, 1998. The rate at
which interest is payable as of the Issue Date with respect to this Certificate
is 0.459194%.
[Assuming that the Mortgage Loans underlying the Certificates prepay at the
prepayment assumption used by the issuer in pricing this Certificate (i.e.,
265% 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 Assumption or any other rate.]
Series 1998-1 Portion of the Class V-A-8 Notional Amount as of
the Cut-Off Date Evidenced by this Certificate:
$_______________________________________________
Class V-A-8 Remittance Rate: 0.459194%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-8 Principal Balance
as of the Cut-Off Date: $0.00
Class V-A-8 Notional Amount
as of the Cut-Off Date: $[ ]
Certificate No_____
Registered Owner_____________________________
V-14
<PAGE>
Exhibit V-A-9
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-A-9
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in a trust fund
whose assets consist of, among other things, Group V Trust Certificates
evidencing interests in 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 January 30,
1998. The rate at which interest is payable as of the Issue Date with respect
to this Certificate is ______% per annum. [Assuming that the Mortgage Loans
underlying the Certificates prepay at the prepayment assumption used by the
issuer in pricing this Certificate (I.E., 265% 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 V-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 V-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.
The Class V-A-9 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 1998-1 Portion of the Class V-A-9 Principal Balance as of the
Cut-Off Date Evidenced by this Certificate:
$_____________________________________________________
Class V-A-9 Remittance Rate: The Group V Weighted Average Rate minus 0.200%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-9 Principal Balance
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
V-15
<PAGE>
Exhibit V-A-9-L
MORTGAGE TRUST CERTIFICATE
Class V-A-9-L
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Group V Trust Certificates evidencing interests in 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 January 30,
1998.
Series 1998-1 Portion of the Class V-A-9-L Principal Balance as of the
Cut-Off Date Evidenced by this Certificate:
$_______________________________________________________
Class V-A-9-L Remittance Rate: The Group V Weighted Average Rate
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-A-9-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
V-16
<PAGE>
Exhibit V-B-IO
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-B-IO
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in a trust fund
whose assets consist of, among other things, Group V Trust Certificates
evidencing interests in 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 January 30,
1998. The rate at which interest is payable as of the Issue Date with respect
to this Certificate is 0.200% 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., 265% 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 V-B-IO 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 V-B-IO
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 V-B-IO 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 1998-1 Portion of the Class V-B-IO Notional Amount as of the
Cut-Off Date Evidenced by this Certificate:
$____________________________________________________
Class V-B-IO Remittance Rate: 0.200%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-B-IO Notional Amount
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
V-17
<PAGE>
Exhibit V-B-1
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-B-1
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in a trust fund
whose assets consist of, among other things, Group V Trust Certificates
evidencing interests in 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 January 30,
1998. The rate at which interest is payable as of the Issue Date with respect
to this Certificate is ______% per annum. [Assuming that the Mortgage Loans
underlying the Certificates prepay at the prepayment assumption used by the
issuer in pricing this Certificate (I.E., 265% 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 V-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 V-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 V-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 1998-1 Portion of the Class V-B-1 Principal Balance as of the
Cut-Off Date Evidenced by this Certificate:
$_____________________________________________________
Class V-B-1 Remittance Rate: The Group V Weighted Average Rate minus 0.20%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-B-1 Principal Balance
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
V-18
<PAGE>
Exhibit V-B-1-L
MORTGAGE TRUST CERTIFICATE
Class V-B-1-L
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Group V Trust Certificates evidencing interests in 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 January 30,
1998.
Series 1998-1 Portion of the Class V-B-1-L Principal Balance as of the
Cut-Off Date Evidenced by this Certificate:
$_______________________________________________________
Class V-B-1-L Remittance Rate: The Group V Weighted Average Rate
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-B-1-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
V-19
<PAGE>
Exhibit V-B-2
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-B-2
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in a trust fund
whose assets consist of, among other things, Group V Trust Certificates
evidencing interests in 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 January 30,
1998. The rate at which interest is payable as of the Issue Date with respect
to this Certificate is _____% per annum. [Assuming that the Mortgage Loans
underlying the Certificates prepay at the prepayment assumption used by the
issuer in pricing this Certificate (I.E., 265% 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 V-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 V-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 V-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 1998-1 Portion of the Class V-B-2 Principal Balance as of the
Cut-Off Date Evidenced by this Certificate:
$_____________________________________________________
Class V-B-2 Remittance Rate: The Group V Weighted Average Rate minus 0.20%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-B-2 Principal Balance
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
V-20
<PAGE>
Exhibit V-B-2-L
MORTGAGE TRUST CERTIFICATE
Class V-B-2-L
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Group V Trust Certificates evidencing interests in 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 January 30,
1998.
Series 1998-1 Portion of the Class V-B-2-L Principal Balance as of the
Cut-Off Date Evidenced by this Certificate:
$_______________________________________________________
Class V-B-2-L Remittance Rate: The Group V Weighted Average Rate
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-B-2-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
V-21
<PAGE>
Exhibit V-B-3
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-B-3
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in a trust fund
whose assets consist of, among other things, Group V Trust Certificates
evidencing interests in 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 January 30,
1998. The rate at which interest is payable as of the Issue Date with respect
to this Certificate is _____% per annum. [Assuming that the Mortgage Loans
underlying the Certificates prepay at the prepayment assumption used by the
issuer in pricing this Certificate (I.E., 265% 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 V-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 V-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 V-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 1998-1 Portion of the Class V-B-3 Principal Balance as of the
Cut-Off Date Evidenced by this Certificate:
$_________________________________________
Class V-B-3 Remittance Rate: The Group V Weighted Average Rate minus 0.20%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-B-3 Principal Balance
as of the Cut-Off Date: $[ ]
__________________ Certificate No. _________
Registered Owner
V-22
<PAGE>
Exhibit V-B-3-L
MORTGAGE TRUST CERTIFICATE
Class V-B-3-L
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Group V Trust Certificates evidencing interests in 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 January 30,
1998.
Series 1998-1 Portion of the Class V-B-3-L Principal Balance as of the
Cut-Off Date Evidenced by this Certificate:
$_______________________________________________________
Class V-B-3-L Remittance Rate: The Group V Weighted Average Rate
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-B-3-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
V-23
<PAGE>
Exhibit V-B-4
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-B-4
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in a trust fund
whose assets consist of, among other things, Group V Trust Certificates
evidencing interests in 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 "Date") of this Certificate is January 30, 1998.
The rate at which interest is payable as of the Issue Date with respect to this
Certificate is _____% per annum. [Assuming that the Mortgage Loans underlying
the Certificates prepay at the prepayment assumption used by the issuer in
pricing this Certificate (i.e., 265% 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 Assumption or any other rate.]
IN THE CASE OF ANY CLASS V-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 V-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
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE POOLING AGREEMENT.
The Class V-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 1998-1 Portion of the Class V-B-4 Principal Balance as of the
Cut-Off Date Evidenced by this Certificate:
$_____________________________________________________
Class V-B-4 Remittance Rate: Variable
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-B-4 Principal Balance
as of the Cut-Off Date: $[ ]
V-24
<PAGE>
__________________
Registered Owner Certificate No.________________
V-25
<PAGE>
Exhibit V-B-4-L
MORTGAGE TRUST CERTIFICATE
Class V-B-4-L
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Group V Trust Certificates evidencing interests in 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 "Date") of this Certificate is January 30, 1998.
Series 1998-1 Portion of the Class V-B-4-L Principal Balance as of the
Cut-Off Date Evidenced by this Certificate:
$_______________________________________________________
Class V-B-4-L Remittance Rate: Variable
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-B-4-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
V-26
<PAGE>
Exhibit V-B-5
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-B-5
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in a trust fund
whose assets consist of, among other things, Group V Trust Certificates
evidencing interests in 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 "Date") of this Certificate is January 30, 1998.
The rate at which interest is payable as of the Issue Date with respect to this
Certificate is _____% per annum. [Assuming that the Mortgage Loans underlying
the Certificates prepay at the prepayment assumption used by the issuer in
pricing this Certificate (i.e., 265% 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 Assumption or any other rate.]
IN THE CASE OF ANY CLASS V-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 V-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
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE POOLING AGREEMENT.
The Class V-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 1998-1 Portion of the Class V-B-5 Principal Balance as
of the Cut-Off Date Evidenced by this
Certificate:
$______________________________________________
Class V-B-5 Remittance Rate: Variable
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-B-5 Principal Balance
as of the Cut-Off Date: $[ ]
V-27
<PAGE>
__________________
Registered Owner Certificate No._________________
V-28
<PAGE>
Exhibit V-B-5-L
MORTGAGE TRUST CERTIFICATE
Class V-B-5-L
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Group V Trust Certificates evidencing interests in 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 "Date") of this Certificate is January 30, 1998.
Series 1998-1 Portion of the Class V-B-5-L Principal Balance
as of the Cut-Off Date Evidenced by this
Certificate:
$_____________________________________________
Class V-B-5-L Remittance Rate: Variable
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-B-5-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
V-29
<PAGE>
Exhibit V-B-6
CUSIP [ ]
MORTGAGE PASS-THROUGH CERTIFICATE
Class V-B-6
Evidencing a Percentage Interest in a trust fund whose assets consist of, among
other things, Mortgage Trust Certificates evidencing interests in a trust fund
whose assets consist of, among other things, Group V Trust Certificates
evidencing interests in 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 "Date") of this Certificate is January 30, 1998.
The rate at which interest is payable as of the Issue Date with respect to this
Certificate is _______% per annum. [Assuming that the Mortgage Loans underlying
the Certificates prepay at the prepayment assumption used by the issuer in
pricing this Certificate (i.e., 265% 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 Assumption or any other rate.]
IN THE CASE OF ANY CLASS V-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 V-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
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933. THESE SECURITIES MAY NOT BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF REGISTRATION OR THE
AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933 AND EXCEPT IN ACCORDANCE WITH SECTION 5.01(e) OF THE POOLING AGREEMENT.
The Class V-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 1998-1 Portion of the Class V-B-6 Principal Balance as
of the Cut-Off Date Evidenced by this
Certificate:
$______________________________________________
Class V-B-6 Remittance Rate: Variable
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-B-6 Principal Balance
as of the Cut-Off Date: $[ ]
V-30
<PAGE>
__________________
Registered Owner Certificate No._________________
V-31
<PAGE>
Exhibit V-B-6-L
MORTGAGE TRUST CERTIFICATE
Class V-B-6-L
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Group V Trust Certificates evidencing interests in 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 of this Certificate is January 30, 1998.
Series 1998-1 Portion of the Class V-B-6-L Principal Balance
as of the Cut-Off Date Evidenced by this
Certificate:
$ ____________________________________________
Class V-B-6-L Remittance Rate: Variable
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-B-6-L Principal Balance
as of the Cut-Off Date: $[ ]
U.S. Bank National Association
Certificate No. 1
V-32
<PAGE>
Exhibit V-1
GROUP V TRUST CERTIFICATE
Class V-1
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, 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 "Date") of this Certificate is
January 30, 1998.
Series 1998-1 Portion of the Class V-1 Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$ ______________________________________________
Class V-1 Remittance Rate:
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-1 Principal Balance
as of the Cut-Off Date: $
U.S. Bank National Association
Certificate No. 1
V-33
<PAGE>
Exhibit V-2
GROUP V TRUST CERTIFICATE
Class V-2
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, 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 "Date") of this Certificate is
January 30, 1998.
Series 1998-1 Portion of the Class V-2 Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$ ______________________________________________
Class V-2 Remittance Rate:
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-2 Principal Balance
as of the Cut-Off Date: $
U.S. Bank National Association
Certificate No. 1
V-34
<PAGE>
Exhibit V-3
GROUP V TRUST CERTIFICATE
Class V-3
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, 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 "Date") of this Certificate is
January 30, 1998.
Series 1998-1 Portion of the Class V-3 Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$ ______________________________________________
Class V-3 Remittance Rate:
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-3 Principal Balance
as of the Cut-Off Date: $
U.S. Bank National Association
Certificate No. 1
V-35
<PAGE>
Exhibit V-4
GROUP V TRUST CERTIFICATE
Class V-4
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, 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 "Date") of this Certificate is
January 30, 1998.
Series 1998-1 Portion of the Class V-4 Principal Balance as of
the Cut-Off Date Evidenced by this Certificate:
$ ______________________________________________
Class V-4 Remittance Rate:
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class V-4 Principal Balance
as of the Cut-Off Date: $
U.S. Bank National Association
Certificate No. 1
V-36
<PAGE>
Exhibit B-1
CUSIP
MORTGAGE TRUST CERTIFICATE
Class R-2
Evidencing a Percentage Interest in certain distributions with respect to a
pool of conventional one- to four-family mortgage loans in Loan Group V
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-1 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-1 CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL BE DEEMED TO
HAVE CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH.
NO TRANSFER OF ANY CLASS R-2 CERTIFICATE SHALL BE MADE UNLESS THE TRANSFEREE
PROVIDES THE COMPANY AND THE TRUSTEE WITH 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-1 CERTIFICATE IS PERMISSIBLE
UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT IN A NON-EXEMPT
PROHIBITED TRANSACTION UNDER SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR SECTION 4975 OF THE CODE AND
WILL NOT SUBJECT THE TRUSTEE, THE MASTER SERVICER OR THE COMPANY TO ANY
OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES UNDER SECTION
406 OF ERISA OR SECTION 4975 OF THE CODE) IN ADDITION TO THOSE UNDERTAKEN IN
THE POOLING AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT BE AN EXPENSE OF
THE TRUSTEE, THE MASTER SERVICER, THE CERTIFICATE TRUST FUND, THE MORTGAGE
TRUST FUND, THE GROUP V TRUST FUND 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 1998-1 Percentage Interest evidenced by this
Class R-2 Certificate in the
distributions to be made with respect
to the Class R-2 Certificate: _____%
Class R-2 Remittance Rate: 7.000%.
Additionally the Class R-1 Certificates
are entitled to Excess Liquidation
Proceeds and the Residual Distribution
Amount as defined in the Pooling
Agreement.
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class R-2 Principal Balance as of the Cut-Off Date: $50.00
Registered Owner Certificate No.____________
B-1
<PAGE>
Exhibit B-2
CUSIP
MORTGAGE TRUST CERTIFICATE
Class R-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.
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-1 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-1 CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL BE DEEMED TO
HAVE CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH.
NO TRANSFER OF ANY CLASS R-1 CERTIFICATE SHALL BE MADE UNLESS THE TRANSFEREE
PROVIDES THE COMPANY AND THE TRUSTEE WITH 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-1 CERTIFICATE IS PERMISSIBLE
UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT IN A NON-EXEMPT
PROHIBITED TRANSACTION UNDER SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR SECTION 4975 OF THE CODE AND
WILL NOT SUBJECT THE TRUSTEE, THE MASTER SERVICER OR THE COMPANY TO ANY
OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES UNDER SECTION
406 OF ERISA OR SECTION 4975 OF THE CODE) IN ADDITION TO THOSE UNDERTAKEN IN
THE POOLING AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT BE AN EXPENSE OF
THE TRUSTEE, THE MASTER SERVICER, THE CERTIFICATE TRUST FUND, THE MORTGAGE
TRUST FUND, GROUP V TRUST FUND 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 1998-1 Percentage Interest evidenced by this
Class R-1 Certificate in the
distributions to be made with respect
to the Class R-1 Certificate: ______%
Class R-1 Remittance Rate: 7.000%.
Additionally the Class R-1 Certificates
are entitled to Excess Liquidation
Proceeds and the Residual Distribution
Amount as defined in the Pooling
Agreement.
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class R-1 Principal Balance as of the Cut-Off Date: $50.00
Registered Owner Certificate No. __________
B-1
<PAGE>
Exhibit B-3
CUSIP
MORTGAGE PASS-THROUGH CERTIFICATE
Class R
Evidencing a Percentage Interest in a trust fund whose assets consist of,
among other things, Mortgage Trust Certificates, evidencing interests in 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.
NO TRANSFER OF ANY CLASS R CERTIFICATE SHALL BE MADE UNLESS THE TRANSFEREE
PROVIDES THE COMPANY AND THE TRUSTEE WITH 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 UNDER SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR SECTION 4975 OF THE CODE AND
WILL NOT SUBJECT THE TRUSTEE, THE MASTER SERVICER OR THE COMPANY TO ANY
OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES UNDER SECTION
406 OF ERISA OR SECTION 4975 OF THE CODE) IN ADDITION TO THOSE UNDERTAKEN IN
THE POOLING AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT BE AN EXPENSE OF
THE TRUSTEE, THE MASTER SERVICER, THE CERTIFICATE TRUST FUND, THE MORTGAGE
TRUST FUND, GROUP V TRUST FUND 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 1998-1 Percentage Interest evidenced by this
Class R Certificate in the
distributions to be made with respect
to the Class R Certificate: _______%
Class R Remittance Rate: 7.000%.
Additionally the Class R Certificates are
entitled to the Residual Distribution
Amount as defined in the Pooling
Agreement.
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class R Principal Balance as of the Cut-Off Date: $50.00
Registered Owner Certificate No.____________
B-1
<PAGE>
Exhibit B-4
MORTGAGE TRUST CERTIFICATE
Class R-L
Evidencing a Percentage Interest in certain distributions with respect to a
pool of conventional one- to four-family mortgage loans formed and
administered by
PNC MORTGAGE SECURITIES CORP.
This Certificate represents ownership of a regular interest "in a real estate
mortgage investment conduit," as those terms are defined in Sections 860G and
860D, respectively, of the Internal Revenue Code of 1986, as amended. The
issue date (the Issue Date") of this Certificate is September 30, 1997.
Series 1998-1 Portion of the Class R-L Principal
Amount as of the Cut-Off Date Evidenced
by this Certificate:
$_____________________________
Class R-L Remittance Rate: 7.000%
Cut-Off Date: January 1, 1998
First Distribution Date: February 25, 1998
Last Scheduled Distribution Date: February 25, 2028
Class R-L 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: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1 EXHIBIT D
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066316 HOKENSON,KENNETH J 8 HILLSIDE DRIVE KINGSTON MA 02364 $222,064.66
500066571 WEEDMAN,ANNE M. 3329 37TH AVE S., SEATTLE WA 98144 $224,196.19
500066653 FITZGERALD,RON C 28631 RANCHO DEL SOL LAGUNA NIGUEL CA 92677 $219,509.85
500066712 LEWIS,ELAINE V&GREGORY J 3100 N OCEAN BLVD #B909 FORT LAUDERDALE FL 33308 $442,247.61
500066715 CASEY, JOHN G 8155 SAN BENITO WAY DALLAS TX 75228 $370,148.06
500066718 SILBERMAN,KENT G&RANDY S 5324 EAST ANGELA DRIVE SCOTTSDALE AZ 85254 $295,384.86
500066721 MANSFIELD,RICHARD&JACQUEL 108 FOX KNOLL LN W CHESTER PA 19380 $275,568.08
500066723 WAHHAB,AKRHM & WILLIAM 1502 CITRINE PL LIVERMORE CA 94550 $335,366.97
500066724 LUMBI,PAUL N&SHEILA S 51 PARK TIMBERS DRIVE NEW ORLEANS LA 70131 $309,854.73
500066726 OAKS,FRANK,L & JAN,M 1525 GREENWOOD AVE SAN CARLOS CA 94070 $234,658.74
500066727 NORTON,A&PICKARD-NORTON,B 750 KENNEDY ROAD LAKE FOREST IL 60045 $301,471.67
500066728 RYAN,CARLETON&MARJORIE 1681 FLOURITE CT LIVERMORE CA 94550 $343,361.06
500066729 FISHMAN,ALAN R&TERRI B 17528 OAK MOUNT PLACE DALLAS TX 75287 $316,528.01
500066730 NOVIKOFF,MOSES&BARBARA 15914 WILD HOLLY LN POWAY CA 92064 $334,548.92
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066316 HOKENSON,KENNETH J 8.375 .250 8.125 .0500 8.075 09/01/2027
500066571 WEEDMAN,ANNE M. 7.750 .250 7.500 .0500 7.450 10/01/2027
500066653 FITZGERALD,RON C 8.125 .250 7.875 .0500 7.825 11/01/2027
500066712 LEWIS,ELAINE V&GREGORY J 8.375 .250 8.125 .0500 8.075 11/01/2027
500066715 CASEY, JOHN G 7.500 .250 7.250 .0500 7.200 11/01/2027
500066718 SILBERMAN,KENT G&RANDY S 7.875 .250 7.625 .0500 7.575 10/01/2027
500066721 MANSFIELD,RICHARD&JACQUEL 7.250 .250 7.000 .0500 6.950 11/01/2027
500066723 WAHHAB,AKRHM & WILLIAM 7.875 .250 7.625 .0500 7.575 11/01/2027
500066724 LUMBI,PAUL N&SHEILA S 7.875 .250 7.625 .0500 7.575 10/01/2027
500066726 OAKS,FRANK,L & JAN,M 7.625 .250 7.375 .0500 7.325 11/01/2027
500066727 NORTON,A&PICKARD-NORTON,B 7.750 .250 7.500 .0500 7.450 11/01/2027
500066728 RYAN,CARLETON&MARJORIE 7.250 .250 7.000 .0500 6.950 11/01/2027
500066729 FISHMAN,ALAN R&TERRI B 7.500 .250 7.250 .0500 7.200 11/01/2027
500066730 NOVIKOFF,MOSES&BARBARA 8.000 .250 7.750 .0500 7.700 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>
500066316 HOKENSON,KENNETH J 092445040 $1,692.11 01/01/1998 360
500066571 WEEDMAN,ANNE M. 092458073 $1,609.60 3 01/01/1998 360
500066653 FITZGERALD,RON C 092459077 $1,633.49 01/01/1998 360
500066712 LEWIS,ELAINE V&GREGORY J 8645158 $3,365.61 01/01/1998 360
500066715 CASEY, JOHN G 0950577 $2,591.99 01/01/1998 360
500066718 SILBERMAN,KENT G&RANDY S 0948866 $2,146.21 01/01/1998 360
500066721 MANSFIELD,RICHARD&JACQUEL 0950197 $1,882.81 01/01/1998 360
500066723 WAHHAB,AKRHM & WILLIAM 8653982 $2,436.24 01/01/1998 360
500066724 LUMBI,PAUL N&SHEILA S 0948914 $2,251.34 12 01/01/1998 360
500066726 OAKS,FRANK,L & JAN,M 8653912 $1,663.32 01/01/1998 360
500066727 NORTON,A&PICKARD-NORTON,B 0951031 $2,163.57 01/01/1998 360
500066728 RYAN,CARLETON&MARJORIE 8654017 $2,346.69 01/01/1998 360
500066729 FISHMAN,ALAN R&TERRI B 0950113 $2,216.51 01/01/1998 360
500066730 NOVIKOFF,MOSES&BARBARA 8654454 $2,458.12 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
500066316 HOKENSON,KENNETH J .00 .00 .00 .000 .250 .300 $279,916.00 N
500066571 WEEDMAN,ANNE M. .00 .00 .00 .000 .250 .300 $236,500.00 N
500066653 FITZGERALD,RON C .00 .00 .00 .000 .250 .300 $275,000.00 N
500066712 LEWIS,ELAINE V&GREGORY J .00 .00 .00 .000 .250 .300 $565,000.00 N
500066715 CASEY, JOHN G .00 .00 .00 .000 .250 .300 $525,000.00 N
500066718 SILBERMAN,KENT G&RANDY S .00 .00 .00 .000 .250 .300 $375,000.00 N
500066721 MANSFIELD,RICHARD&JACQUEL .00 .00 .00 .000 .250 .300 $345,000.00 N
500066723 WAHHAB,AKRHM & WILLIAM .00 .00 .00 .000 .250 .300 $420,000.00 N
500066724 LUMBI,PAUL N&SHEILA S .00 .00 .00 .000 .250 .300 $351,500.00 N
500066726 OAKS,FRANK,L & JAN,M .00 .00 .00 .000 .250 .300 $327,000.00 N
500066727 NORTON,A&PICKARD-NORTON,B .00 .00 .00 .000 .250 .300 $460,000.00 N
500066728 RYAN,CARLETON&MARJORIE .00 .00 .00 .000 .250 .300 $430,000.00 N
500066729 FISHMAN,ALAN R&TERRI B .00 .00 .00 .000 .250 .300 $520,000.00 N
500066730 NOVIKOFF,MOSES&BARBARA .00 .00 .00 .000 .250 .300 $475,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 2
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066732 STUMP,MICHAEL & LAURA 35984 FALCON CREST DR AVON OH 44011 $234,675.48
500066733 SULLENGER,CARL&DEBORAH 16016 BONNIE BANK TERR DARNESTOWN MD 20847 $250,566.60
500066746 GHAZIPOUR,A&MAZHARY,F 7202 LEAFLAND PLACE PROSPECT KY 40059 $266,821.62
500066748 MINTZ,ROBERT & KATHRYN 8661 KIM COURT PARKER CO 80134 $248,824.70
500066751 JACOB,ROBERTS,&BETH,M 7161 FOXVIEW DRIVE CINCINNATI OH 45230 $251,130.86
500066754 GRIGG,RAYMOND & PAULA N32 W23130 STONEWALL CT PEWAUKEE WI 53072 $249,228.36
500066755 STANFIELD,BARBARA,B. 4946 BRIARWOOD PL DALLAS TX 75209 $276,096.12
500066756 KLEIN,STEVEN&HOWELL,MARY 4207 PALOMINO CT MIDDLETOWN MD 21769 $367,613.50
500066757 BRUNS,DEREK C&RACHEL G 14624 SOUTH 20TH STREET PHOENIX AZ 85048 $296,499.44
500066758 ANDRABI,IMRAN A& REEMA I 2840 SQUIRREL BEND TOLEDO OH 43617 $272,562.06
500066761 JOLLY,SUZANNE & BILLIE 440 SEA VIEW CT #1012 MARCO ISLAND FL 34145 $243,404.81
500066762 PIECHNIK,PAUL E&CHRISTINE 6 WINDSOR RD SUMMIT NJ 07901 $243,298.04
500066765 GUTHRIE,BENJAMIN L&ANN T 705 FALLS CT PLEASANT HILL CA 94523 $291,586.47
500066768 ARMISTEAD,GARY & MIMSIE 109 RIDGE CREEK DR MORRISVILLE NC 27560 $239,633.62
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066732 STUMP,MICHAEL & LAURA 7.875 .250 7.625 .0500 7.575 11/01/2027
500066733 SULLENGER,CARL&DEBORAH 8.000 .250 7.750 .0500 7.700 11/01/2027
500066746 GHAZIPOUR,A&MAZHARY,F 7.750 .250 7.500 .0500 7.450 11/01/2027
500066748 MINTZ,ROBERT & KATHRYN 7.000 .250 6.750 .0500 6.700 11/01/2027
500066751 JACOB,ROBERTS,&BETH,M 7.625 .250 7.375 .0500 7.325 11/01/2027
500066754 GRIGG,RAYMOND & PAULA 7.500 .250 7.250 .0500 7.200 11/01/2027
500066755 STANFIELD,BARBARA,B. 7.625 .250 7.375 .0500 7.325 11/01/2027
500066756 KLEIN,STEVEN&HOWELL,MARY 7.500 .250 7.250 .0500 7.200 08/01/2027
500066757 BRUNS,DEREK C&RACHEL G 8.000 .250 7.750 .0500 7.700 11/01/2027
500066758 ANDRABI,IMRAN A& REEMA I 7.125 .250 6.875 .0500 6.825 11/01/2027
500066761 JOLLY,SUZANNE & BILLIE 7.750 .250 7.500 .0500 7.450 11/01/2027
500066762 PIECHNIK,PAUL E&CHRISTINE 7.750 .250 7.500 .0500 7.450 11/01/2027
500066765 GUTHRIE,BENJAMIN L&ANN T 7.750 .250 7.500 .0500 7.450 11/01/2027
500066768 ARMISTEAD,GARY & MIMSIE 7.375 .250 7.125 .0500 7.075 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>
500066732 STUMP,MICHAEL & LAURA 8665375 $1,703.92 01/01/1998 360
500066733 SULLENGER,CARL&DEBORAH 8575314 $1,841.75 01/01/1998 360
500066746 GHAZIPOUR,A&MAZHARY,F 0949700 $1,914.25 01/01/1998 360
500066748 MINTZ,ROBERT & KATHRYN 0951607 $1,663.26 01/01/1998 360
500066751 JACOB,ROBERTS,&BETH,M 0949215 $1,783.65 01/01/1998 360
500066754 GRIGG,RAYMOND & PAULA 0949112 $1,745.24 01/01/1998 360
500066755 STANFIELD,BARBARA,B. 0949736 $1,959.18 01/01/1998 360
500066756 KLEIN,STEVEN&HOWELL,MARY 8385761 $2,580.11 12 01/01/1998 360
500066757 BRUNS,DEREK C&RACHEL G 0951110 $2,179.28 01/01/1998 360
500066758 ANDRABI,IMRAN A& REEMA I 8681826 $1,839.26 01/01/1998 360
500066761 JOLLY,SUZANNE & BILLIE 8711076 $1,746.26 01/01/1998 360
500066762 PIECHNIK,PAUL E&CHRISTINE 8638976 $1,748.05 01/01/1998 360
500066765 GUTHRIE,BENJAMIN L&ANN T 8653903 $2,091.93 01/01/1998 360
500066768 ARMISTEAD,GARY & MIMSIE 8576117 $1,657.63 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
500066732 STUMP,MICHAEL & LAURA .00 .00 .00 .000 .250 .300 $312,000.00 N
500066733 SULLENGER,CARL&DEBORAH .00 .00 .00 .000 .250 .300 $335,000.00 N
500066746 GHAZIPOUR,A&MAZHARY,F .00 .00 .00 .000 .250 .300 $338,000.00 N
500066748 MINTZ,ROBERT & KATHRYN .00 .00 .00 .000 .250 .300 $650,000.00 N
500066751 JACOB,ROBERTS,&BETH,M .00 .00 .00 .000 .250 .300 $315,000.00 N
500066754 GRIGG,RAYMOND & PAULA .00 .00 .00 .000 .250 .300 $313,000.00 N
500066755 STANFIELD,BARBARA,B. .00 .00 .00 .000 .250 .300 $475,000.00 N
500066756 KLEIN,STEVEN&HOWELL,MARY .00 .00 .00 .000 .250 .300 $410,000.00 N
500066757 BRUNS,DEREK C&RACHEL G .00 .00 .00 .000 .250 .300 $400,000.00 N
500066758 ANDRABI,IMRAN A& REEMA I .00 .00 .00 .000 .250 .300 $382,000.00 N
500066761 JOLLY,SUZANNE & BILLIE .00 .00 .00 .000 .250 .300 $325,000.00 N
500066762 PIECHNIK,PAUL E&CHRISTINE .00 .00 .00 .000 .250 .300 $319,000.00 N
500066765 GUTHRIE,BENJAMIN L&ANN T .00 .00 .00 .000 .250 .300 $365,000.00 N
500066768 ARMISTEAD,GARY & MIMSIE .00 .00 .00 .000 .250 .300 $330,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 3
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066770 DRAZIN,SIDNEY & BERNICE J 6403 KIRBY ROAD BESTHESDA MD 20817 $237,679.55
500066771 KING, NATALIE M 1353 N LARKSPUR LANE PALATINE IL 60067 $253,032.03
500066779 CUELLAR ANTHONY 7 WEDGEWOOD CT PETALUMA CA 94954 $234,825.26
500066780 MOREN KAREN A 2415 FOX CREEK LANE DAVIDSONVILLE MD 21035 $378,754.44
500066781 GRANDINETTI, GAYLE 300 HOGAN'S VALLEY WAY CARY NC 27513 $353,910.60
500066786 ASSADI,MOHAMMED,REZA 3605 ROBINS ROAD AUSTIN TX 78730 $331,142.08
500066787 CAMBELL,DONALD & DIANE 334 EAST 620 SOUTH SALEM UT 84653 $239,477.12
500066827 RHODES,RICHARD J 1070 HOLLAND ROAD POWDER SPRINGS GA 30127 $224,168.67
500066855 FAAS,THOMAS H JR 118 PORTSIDE COURT BEAR DE 19701 $218,549.29
500066881 PALMER,ASHLEIGH W 19 MCCATHARN ROAD CLINTON TOWNSHI NJ 08833 $269,527.19
500066978 WILEN,ROSS D 13001 HESBY STREET SHERMAN OAKS CA 91423 $223,698.40
500066981 ESTRADA,DAVID 347 SOUTH NOTRE DAME AVEN ORANGE CA 92869 $223,690.68
500067026 STRATILATOFF,ALEX I 2170 SUGAR BOWL COURT RENO NV 89511 $223,250.00
500067087 BRANCH,MICHAEL A 102 ATLAS ROAD BERNARDS TOWNSH NJ 07920 $225,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066770 DRAZIN,SIDNEY & BERNICE J 8.000 .250 7.750 .0500 7.700 11/01/2027
500066771 KING, NATALIE M 7.625 .250 7.375 .0500 7.325 11/01/2027
500066779 CUELLAR ANTHONY 7.875 .250 7.625 .0500 7.575 11/01/2027
500066780 MOREN KAREN A 7.625 .250 7.375 .0500 7.325 11/01/2027
500066781 GRANDINETTI, GAYLE 7.875 .250 7.625 .0500 7.575 11/01/2027
500066786 ASSADI,MOHAMMED,REZA 7.875 .250 7.625 .0500 7.575 11/01/2027
500066787 CAMBELL,DONALD & DIANE 8.000 .250 7.750 .0500 7.700 11/01/2027
500066827 RHODES,RICHARD J 7.750 .150 7.600 .1000 7.500 12/01/2027
500066855 FAAS,THOMAS H JR 7.875 .150 7.725 .1000 7.625 12/01/2027
500066881 PALMER,ASHLEIGH W 7.750 .150 7.600 .1000 7.500 12/01/2017
500066978 WILEN,ROSS D 8.000 .250 7.750 .0500 7.700 11/01/2027
500066981 ESTRADA,DAVID 7.875 .250 7.625 .0500 7.575 11/01/2027
500067026 STRATILATOFF,ALEX I 7.750 .150 7.600 .1000 7.500 01/01/2028
500067087 BRANCH,MICHAEL A 7.875 .150 7.725 .1000 7.625 01/01/2028
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500066770 DRAZIN,SIDNEY & BERNICE J 8575236 $1,746.36 01/01/1998 360
500066771 KING, NATALIE M 0948988 $1,793.55 01/01/1998 360
500066779 CUELLAR ANTHONY 8653992 $1,705.01 01/01/1998 360
500066780 MOREN KAREN A 8714719 $2,689.62 01/01/1998 360
500066781 GRANDINETTI, GAYLE 0951171 $2,569.65 01/01/1998 360
500066786 ASSADI,MOHAMMED,REZA 8620126 $2,404.34 01/01/1998 360
500066787 CAMBELL,DONALD & DIANE 0951039 $1,759.57 12 01/01/1998 360
500066827 RHODES,RICHARD J 092420590 $1,607.11 12 01/01/1998 360
500066855 FAAS,THOMAS H JR 092442802 $1,587.90 2 01/01/1998 360
500066881 PALMER,ASHLEIGH W 092468934 $2,216.56 01/01/1998 240
500066978 WILEN,ROSS D 092462585 $1,643.63 01/01/1998 360
500066981 ESTRADA,DAVID 092463905 $1,624.16 01/01/1998 360
500067026 STRATILATOFF,ALEX I 092470690 $1,599.39 12 01/01/1998 360
500067087 BRANCH,MICHAEL A 092473091 $1,631.41 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
500066770 DRAZIN,SIDNEY & BERNICE J .00 .00 .00 .000 .250 .300 $340,000.00 N
500066771 KING, NATALIE M .00 .00 .00 .000 .250 .300 $340,000.00 N
500066779 CUELLAR ANTHONY .00 .00 .00 .000 .250 .300 $311,000.00 N
500066780 MOREN KAREN A .00 .00 .00 .000 .250 .300 $625,000.00 N
500066781 GRANDINETTI, GAYLE .00 .00 .00 .000 .250 .300 $450,000.00 N
500066786 ASSADI,MOHAMMED,REZA .00 .00 .00 .000 .250 .300 $450,000.00 N
500066787 CAMBELL,DONALD & DIANE .00 .00 .00 .000 .250 .300 $270,000.00 N
500066827 RHODES,RICHARD J .00 .00 .00 .000 .150 .250 $263,915.00 N
500066855 FAAS,THOMAS H JR .00 .00 .00 .000 .150 .250 $244,855.00 N
500066881 PALMER,ASHLEIGH W .00 .00 .00 .000 .150 .250 $342,000.00 N
500066978 WILEN,ROSS D .00 .00 .00 .000 .250 .300 $335,000.00 N
500066981 ESTRADA,DAVID .00 .00 .00 .000 .250 .300 $290,000.00 N
500067026 STRATILATOFF,ALEX I .00 .00 .00 .000 .150 .250 $235,000.00 N
500067087 BRANCH,MICHAEL A .00 .00 .00 .000 .150 .250 $370,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 4
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600070239 JOHN A ADAMS 24574 PARK GRANADA CALABASAS CA 91302 $635,989.55
600070364 FRED BARRON 259 S WINDSOR BLVD LOS ANGELES CA 90004 $858,648.80
600101520 KEVIN L BACHLER 2719 DE COOK AVENUE PARK RIDGE IL 60068 $219,688.44
600101530 G STEWART FRANCKE 5258 AUGRES AVE AUGRES MI 48703 $219,706.76
600103123 FOSTER RICHARD 6 STACEY LANE WOODCLIFF L NJ 7675 $321,121.46
600103128 FAVORITE JR FRED 8024 W PEBBLE CREEK LANE PONTE VEDRA FL 32082 $357,072.06
600103129 BERMAN BRENDA 70720 TAMARISK LN RANCHO MIRA CA 92270 $404,208.60
600103130 LAUTURE LIONEL 104 BROWN BLVD WHEATLEY HE NY 11798 $310,991.42
600103131 CROSBY DAVID 5333 HARWOOD ROAD SAN JOSE CA 95124 $274,016.90
600103132 LONG DAVID 7 WHEELER STREET LYNNFIELD MA 1940 $238,743.45
600103133 LARSON STEVEN 8 BAYHILL ROAD DELLWOOD MN 55110 $438,427.05
600103134 JAGANNATHAN CHETLUR 105 SOUTHFIELD DRIVE MONTGOMERY NJ 8502 $245,019.75
600103135 CORSMO TIMOTHY 2102 VIZCAYA WAY CAMPBELL CA 95008 $258,499.44
600103136 PIERCE GLENN 3520 MOUNTAIN VIEW AVE LOS ANGELES CA 90066 $302,857.71
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600070239 JOHN A ADAMS 9.125 .250 8.875 .0400 8.835 01/01/2022
600070364 FRED BARRON 9.375 .250 9.125 .0400 9.085 04/01/2022
600101520 KEVIN L BACHLER 7.750 .250 7.500 .0500 7.450 11/01/2027
600101530 G STEWART FRANCKE 8.050 .250 7.800 .0500 7.750 11/01/2027
600103123 FOSTER RICHARD 8.875 .250 8.625 .0500 8.575 06/01/2024
600103128 FAVORITE JR FRED 7.375 .250 7.125 .0500 7.075 03/01/2027
600103129 BERMAN BRENDA 7.625 .250 7.375 .0500 7.325 07/01/2027
600103130 LAUTURE LIONEL 8.250 .250 8.000 .0500 7.950 08/01/2027
600103131 CROSBY DAVID 7.750 .250 7.500 .0500 7.450 08/01/2027
600103132 LONG DAVID 7.750 .250 7.500 .0500 7.450 08/01/2027
600103133 LARSON STEVEN 7.750 .250 7.500 .0500 7.450 08/01/2027
600103134 JAGANNATHAN CHETLUR 7.625 .250 7.375 .0500 7.325 08/01/2027
600103135 CORSMO TIMOTHY 7.750 .250 7.500 .0500 7.450 08/01/2027
600103136 PIERCE GLENN 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>
600070239 JOHN A ADAMS 092458518 $5,451.34 01/01/1998 360
600070364 FRED BARRON 092458596 $7,485.74 01/01/1998 360
600101520 KEVIN L BACHLER 3304649 $1,576.11 12 01/01/1998 360
600101530 G STEWART FRANCKE 3372141 $1,621.96 01/01/1998 360
600103123 FOSTER RICHARD 221464951 $2,633.47 01/01/1998 360
600103128 FAVORITE JR FRED 450652250 $2,486.44 01/01/1998 360
600103129 BERMAN BRENDA 450754098 $2,873.65 01/01/1998 360
600103130 LAUTURE LIONEL 450773247 $2,343.96 2 01/01/1998 360
600103131 CROSBY DAVID 450774039 $1,970.14 01/01/1998 360
600103132 LONG DAVID 450774492 $1,716.53 01/01/1998 360
600103133 LARSON STEVEN 450777255 $3,152.22 01/01/1998 360
600103134 JAGANNATHAN CHETLUR 450777495 $1,769.49 01/01/1998 360
600103135 CORSMO TIMOTHY 450779400 $1,869.84 01/01/1998 360
600103136 PIERCE GLENN 450781026 $2,125.62 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600070239 JOHN A ADAMS .00 .00 .00 .000 .250 .290 $900,000.00 N
600070364 FRED BARRON .00 .00 .00 .000 .250 .290 $1,200,000.00 N
600101520 KEVIN L BACHLER .00 .00 .00 .000 .250 .300 $275,000.00 N
600101530 G STEWART FRANCKE .00 .00 .00 .000 .250 .300 $300,000.00 N
600103123 FOSTER RICHARD .00 .00 .00 .000 .250 .300 $417,500.00 N
600103128 FAVORITE JR FRED .00 .00 .00 .000 .250 .300 $634,450.00 N
600103129 BERMAN BRENDA .00 .00 .00 .000 .250 .300 $700,000.00 N
600103130 LAUTURE LIONEL .00 .00 .00 .000 .250 .300 $347,000.00 N
600103131 CROSBY DAVID .00 .00 .00 .000 .250 .300 $344,000.00 N
600103132 LONG DAVID .00 .00 .00 .000 .250 .300 $305,000.00 N
600103133 LARSON STEVEN .00 .00 .00 .000 .250 .300 $575,000.00 N
600103134 JAGANNATHAN CHETLUR .00 .00 .00 .000 .250 .300 $424,000.00 N
600103135 CORSMO TIMOTHY .00 .00 .00 .000 .250 .300 $491,000.00 N
600103136 PIERCE GLENN .00 .00 .00 .000 .250 .300 $380,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 5
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103137 HEROLD JAMES 5764 OWL HILL AVENUE SANTA ROSA CA 95409 $289,959.73
600103138 NANAVATI KUMAR 17 SOUTHFIELD DRIVE MONTGOMERY NJ 8502 $348,748.78
600103139 BENT SERGIO 4188 S CLOVERDALE AVE LOS ANGELES CA 90008 $278,178.52
600103140 ZUCKER STEVEN 15 DEEPWOOD DRIVE HAMDEN CT 6517 $313,786.71
600103142 MUELLER DALE 7648 SOUTH SHORE DRIVE CHANHASSAN MN 55317 $273,020.49
600103143 TANDRUP ALAN 3309 LAKEWOOD SHORES DR HOWELL MI 48843 $410,451.92
600103144 FLADEBOE BRUCE 13 SAINT FRANCIS CIRCLE NAPA CA 94558 $271,098.21
600103145 BAKER JR JERRY 3589 DAVIES MANOR DRIVE MEMPHIS TN 38133 $282,031.95
600103146 GUNDERSON SCOTT 732 S WALNUT AVENUE SAN DIMAS CA 91773 $378,572.16
600103148 HERLAN GREGORY 1456 MUNDOCK ROAD DRESHER PA 19025 $338,657.71
600103149 CURTIN EDWARD 62 OLD NORTH TRAIL MANSFIELD MA 2048 $249,037.08
600103150 WOOLF CLIVE 1942 CRESTHAVEN DRIVE VISTA CA 92084 $256,579.45
600103151 DEAN DAVID 5218 CASSANDRA LANE SAN DIEGO CA 92109 $272,821.19
600103153 BECKSTROM JOHN 1531 HILLCREST DRIVE ARROYO GRAN CA 93420 $235,135.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103137 HEROLD JAMES 7.750 .250 7.500 .0500 7.450 08/01/2027
600103138 NANAVATI KUMAR 7.750 .250 7.500 .0500 7.450 08/01/2027
600103139 BENT SERGIO 7.750 .250 7.500 .0500 7.450 08/01/2027
600103140 ZUCKER STEVEN 7.375 .250 7.125 .0500 7.075 08/01/2027
600103142 MUELLER DALE 7.750 .250 7.500 .0500 7.450 08/01/2027
600103143 TANDRUP ALAN 7.500 .250 7.250 .0500 7.200 08/01/2027
600103144 FLADEBOE BRUCE 8.125 .250 7.875 .0500 7.825 08/01/2027
600103145 BAKER JR JERRY 7.500 .250 7.250 .0500 7.200 08/01/2027
600103146 GUNDERSON SCOTT 7.500 .250 7.250 .0500 7.200 08/01/2027
600103148 HERLAN GREGORY 7.250 .250 7.000 .0500 6.950 08/01/2027
600103149 CURTIN EDWARD 7.375 .250 7.125 .0500 7.075 08/01/2027
600103150 WOOLF CLIVE 7.750 .250 7.500 .0500 7.450 08/01/2027
600103151 DEAN DAVID 7.750 .250 7.500 .0500 7.450 08/01/2027
600103153 BECKSTROM JOHN 7.625 .250 7.375 .0500 7.325 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>
600103137 HEROLD JAMES 450781893 $2,084.76 01/01/1998 360
600103138 NANAVATI KUMAR 450783196 $2,507.45 01/01/1998 360
600103139 BENT SERGIO 450786397 $2,000.23 01/01/1998 360
600103140 ZUCKER STEVEN 450788369 $2,175.63 01/01/1998 360
600103142 MUELLER DALE 450791751 $1,962.97 3 01/01/1998 360
600103143 TANDRUP ALAN 450792403 $2,880.77 01/01/1998 360
600103144 FLADEBOE BRUCE 450793765 $2,019.60 01/01/1998 360
600103145 BAKER JR JERRY 450795240 $1,979.48 01/01/1998 360
600103146 GUNDERSON SCOTT 450795349 $2,657.02 01/01/1998 360
600103148 HERLAN GREGORY 450797030 $2,319.40 01/01/1998 360
600103149 CURTIN EDWARD 450798731 $1,726.69 01/01/1998 360
600103150 WOOLF CLIVE 450798970 $1,844.77 3 01/01/1998 360
600103151 DEAN DAVID 450799168 $1,961.54 01/01/1998 360
600103153 BECKSTROM JOHN 450802434 $1,670.40 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103137 HEROLD JAMES .00 .00 .00 .000 .250 .300 $363,800.00 N
600103138 NANAVATI KUMAR .00 .00 .00 .000 .250 .300 $470,000.00 N
600103139 BENT SERGIO .00 .00 .00 .000 .250 .300 $349,000.00 N
600103140 ZUCKER STEVEN .00 .00 .00 .000 .250 .300 $395,000.00 N
600103142 MUELLER DALE .00 .00 .00 .000 .250 .300 $305,000.00 N
600103143 TANDRUP ALAN .00 .00 .00 .000 .250 .300 $553,000.00 N
600103144 FLADEBOE BRUCE .00 .00 .00 .000 .250 .300 $340,000.00 N
600103145 BAKER JR JERRY .00 .00 .00 .000 .250 .300 $377,500.00 N
600103146 GUNDERSON SCOTT .00 .00 .00 .000 .250 .300 $475,000.00 N
600103148 HERLAN GREGORY .00 .00 .00 .000 .250 .300 $470,000.00 N
600103149 CURTIN EDWARD .00 .00 .00 .000 .250 .300 $410,925.00 N
600103150 WOOLF CLIVE .00 .00 .00 .000 .250 .300 $271,063.00 N
600103151 DEAN DAVID .00 .00 .00 .000 .250 .300 $355,000.00 N
600103153 BECKSTROM JOHN .00 .00 .00 .000 .250 .300 $295,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 6
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103154 CALABRESE JOHN 1021 PORTSMERE CT NORTHVILLE MI 48167 $247,238.17
600103156 MANN TERRY 4044 N LINDSTROM PLACE TUCSON AZ 85750 $291,664.62
600103157 RIOFSKI R. LOT 5 BROAD RUN KNOLL LANDENBERG PA 19350 $352,640.09
600103158 CRANDALL BRUCE 6170 CAMROSE LANE BROAD RUN VA 20137 $251,225.86
600103161 HARTZELL PAUL 40 GLORIA CIRCLE MENLO PARK CA 94025 $418,772.40
600103162 SMITH DEAN 5900 QUINTA REAL COURT EL PASO TX 79912 $398,859.74
600103163 THAKAR YOGENDRA 2421 W 237TH STREET TORRANCE CA 90501 $265,111.50
600103164 HEWITT JOHN 16 MARQUARD ROAD CARMEL VALL CA 93924 $376,340.37
600103165 WEISSBERG STEVEN 7 COLBURN COURT WAYNE NJ 7470 $238,406.24
600103167 YOUNG MAUREEN 1842 GRAYSLAKE ROCHESTER H MI 48306 $252,936.73
600103168 SMITH LESLIE 2202 PLUMBROOK DR AUSTIN TX 78746 $351,768.82
600103171 LOGSDON MICHAEL 7500 MORWOOD TRAIL CLIFTON VA 20124 $328,881.46
600103173 MCCANN STEVE 17750 ARVIDA DRIVE GRANADA HIL CA 91344 $285,142.97
600103174 PRADA LUIS 1823 DALTREY WAY SAN JOSE CA 95132 $265,202.89
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103154 CALABRESE JOHN 7.375 .250 7.125 .0500 7.075 09/01/2027
600103156 MANN TERRY 6.750 .250 6.500 .0500 6.450 08/01/2027
600103157 RIOFSKI R. 7.500 .250 7.250 .0500 7.200 09/01/2027
600103158 CRANDALL BRUCE 7.375 .250 7.125 .0500 7.075 09/01/2027
600103161 HARTZELL PAUL 7.625 .250 7.375 .0500 7.325 09/01/2027
600103162 SMITH DEAN 7.750 .250 7.500 .0500 7.450 09/01/2027
600103163 THAKAR YOGENDRA 7.750 .250 7.500 .0500 7.450 09/01/2017
600103164 HEWITT JOHN 7.375 .250 7.125 .0500 7.075 09/01/2027
600103165 WEISSBERG STEVEN 7.375 .250 7.125 .0500 7.075 09/01/2027
600103167 YOUNG MAUREEN 7.000 .250 6.750 .0500 6.700 09/01/2027
600103168 SMITH LESLIE 7.625 .250 7.375 .0500 7.325 09/01/2027
600103171 LOGSDON MICHAEL 6.875 .250 6.625 .0500 6.575 09/01/2027
600103173 MCCANN STEVE 7.500 .250 7.250 .0500 7.200 09/01/2027
600103174 PRADA LUIS 7.500 .250 7.250 .0500 7.200 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>
600103154 CALABRESE JOHN 450802897 $1,712.88 01/01/1998 360
600103156 MANN TERRY 450804281 $1,900.01 01/01/1998 360
600103157 RIOFSKI R. 450804976 $2,473.13 01/01/1998 360
600103158 CRANDALL BRUCE 450806260 $1,740.51 01/01/1998 360
600103161 HARTZELL PAUL 450808415 $2,972.74 01/01/1998 360
600103162 SMITH DEAN 450808472 $2,865.65 01/01/1998 360
600103163 THAKAR YOGENDRA 450809215 $2,191.94 01/01/1998 240
600103164 HEWITT JOHN 450809538 $2,607.30 01/01/1998 360
600103165 WEISSBERG STEVEN 450811385 $1,657.63 01/01/1998 360
600103167 YOUNG MAUREEN 450812912 $1,691.20 01/01/1998 360
600103168 SMITH LESLIE 450813068 $2,497.10 01/01/1998 360
600103171 LOGSDON MICHAEL 450815261 $2,167.87 01/01/1998 360
600103173 MCCANN STEVE 450816491 $1,999.76 01/01/1998 360
600103174 PRADA LUIS 450816871 $1,859.92 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103154 CALABRESE JOHN .00 .00 .00 .000 .250 .300 $310,000.00 N
600103156 MANN TERRY .00 .00 .00 .000 .250 .300 $416,500.00 N
600103157 RIOFSKI R. .00 .00 .00 .000 .250 .300 $442,165.00 N
600103158 CRANDALL BRUCE .00 .00 .00 .000 .250 .300 $315,000.00 N
600103161 HARTZELL PAUL .00 .00 .00 .000 .250 .300 $775,000.00 N
600103162 SMITH DEAN .00 .00 .00 .000 .250 .300 $684,400.00 N
600103163 THAKAR YOGENDRA .00 .00 .00 .000 .250 .300 $360,000.00 N
600103164 HEWITT JOHN .00 .00 .00 .000 .250 .300 $550,000.00 N
600103165 WEISSBERG STEVEN .00 .00 .00 .000 .250 .300 $420,000.00 N
600103167 YOUNG MAUREEN .00 .00 .00 .000 .250 .300 $317,760.00 N
600103168 SMITH LESLIE .00 .00 .00 .000 .250 .300 $441,000.00 N
600103171 LOGSDON MICHAEL .00 .00 .00 .000 .250 .300 $420,000.00 N
600103173 MCCANN STEVE .00 .00 .00 .000 .250 .300 $461,000.00 N
600103174 PRADA LUIS .00 .00 .00 .000 .250 .300 $360,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 7
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103176 BROCKETT CHARLES 7527 PENOBSCOT DRIVE LOS ANGELES CA 91304 $321,457.68
600103178 WEIST KEVIN 350 WEST DUDLEY AVE WESTFIELD NJ 7090 $292,741.83
600103179 ZAJDEL JAMES 3432 SUSSEX OAKLAND TWP MI 48308 $239,280.82
600103180 PIERCE RICHARD 2021 MADRILLON CREEK CT VIENNA VA 22182 $270,363.45
600103182 DREW CARTER 2435 FAWN LAKE CIRCLE NAPERVILLE IL 60564 $448,583.03
600103183 PEETZ MICHAEL 59 GREGORY CIRCLE BRECKENRIDG CO 80424 $246,477.47
600103185 JONES ROBERT 18 FAWNWOOD DRIVE VOORHEES NJ 8043 $238,455.31
600103186 KATZ ARNOLD 16150 EL CAMINO REAL SOLANA BEAC CA 92075 $573,360.85
600103187 MILBURN LEONARD 5714 FENWICK PLACE CLARKSTON MI 48348 $292,974.97
600103191 BRIXIUS KEITH 7103 SWALLOW WAY CARY IL 60013 $270,206.05
600103192 BROSTOFF NEAL 8241 QUIET HILLS COURT WEST HILLS CA 91304 $318,788.66
600103193 PATTERSON JULIE 596 BONITA CANYON WAY BREA CA 92821 $259,557.94
600103194 HOYT DON 11130 SUNRISE RIDGE CIRCL AUBURN CA 95603 $242,999.20
600103195 REIMERS FREDERICK 4515 WILLOWBROOK LANE WILSON WY 83014 $373,931.01
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103176 BROCKETT CHARLES 7.625 .250 7.375 .0500 7.325 09/01/2027
600103178 WEIST KEVIN 7.625 .250 7.375 .0500 7.325 09/01/2027
600103179 ZAJDEL JAMES 7.500 .250 7.250 .0500 7.200 09/01/2027
600103180 PIERCE RICHARD 7.625 .250 7.375 .0500 7.325 09/01/2027
600103182 DREW CARTER 7.250 .250 7.000 .0500 6.950 09/01/2027
600103183 PEETZ MICHAEL 7.625 .250 7.375 .0500 7.325 09/01/2027
600103185 JONES ROBERT 7.375 .250 7.125 .0500 7.075 09/01/2027
600103186 KATZ ARNOLD 7.750 .250 7.500 .0500 7.450 09/01/2027
600103187 MILBURN LEONARD 7.500 .250 7.250 .0500 7.200 09/01/2027
600103191 BRIXIUS KEITH 7.625 .250 7.375 .0500 7.325 09/01/2027
600103192 BROSTOFF NEAL 7.750 .250 7.500 .0500 7.450 09/01/2027
600103193 PATTERSON JULIE 7.750 .250 7.500 .0500 7.450 09/01/2027
600103194 HOYT DON 7.500 .250 7.250 .0500 7.200 09/01/2027
600103195 REIMERS FREDERICK 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>
600103176 BROCKETT CHARLES 450817689 $2,281.93 01/01/1998 360
600103178 WEIST KEVIN 450818547 $2,078.09 01/01/1998 360
600103179 ZAJDEL JAMES 450819032 $1,678.12 01/01/1998 360
600103180 PIERCE RICHARD 450819065 $2,017.22 01/01/1998 360
600103182 DREW CARTER 450819669 $3,069.80 01/01/1998 360
600103183 PEETZ MICHAEL 450819826 $1,749.67 01/01/1998 360
600103185 JONES ROBERT 450820048 $1,657.63 01/01/1998 360
600103186 KATZ ARNOLD 450820865 $4,119.38 01/01/1998 360
600103187 MILBURN LEONARD 450821814 $2,055.70 01/01/1998 360
600103191 BRIXIUS KEITH 450825187 $1,919.54 01/01/1998 360
600103192 BROSTOFF NEAL 450825484 $2,290.37 01/01/1998 360
600103193 PATTERSON JULIE 450827761 $1,864.83 3 01/01/1998 360
600103194 HOYT DON 450830674 $1,704.34 01/01/1998 360
600103195 REIMERS FREDERICK 450831235 $2,686.55 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103176 BROCKETT CHARLES .00 .00 .00 .000 .250 .300 $425,000.00 N
600103178 WEIST KEVIN .00 .00 .00 .000 .250 .300 $367,000.00 N
600103179 ZAJDEL JAMES .00 .00 .00 .000 .250 .300 $350,000.00 N
600103180 PIERCE RICHARD .00 .00 .00 .000 .250 .300 $390,000.00 N
600103182 DREW CARTER .00 .00 .00 .000 .250 .300 $649,900.00 N
600103183 PEETZ MICHAEL .00 .00 .00 .000 .250 .300 $309,000.00 N
600103185 JONES ROBERT .00 .00 .00 .000 .250 .300 $492,000.00 N
600103186 KATZ ARNOLD .00 .00 .00 .000 .250 .300 $950,000.00 N
600103187 MILBURN LEONARD .00 .00 .00 .000 .250 .300 $384,155.00 N
600103191 BRIXIUS KEITH .00 .00 .00 .000 .250 .300 $339,000.00 N
600103192 BROSTOFF NEAL .00 .00 .00 .000 .250 .300 $440,000.00 N
600103193 PATTERSON JULIE .00 .00 .00 .000 .250 .300 $274,000.00 N
600103194 HOYT DON .00 .00 .00 .000 .250 .300 $325,000.00 N
600103195 REIMERS FREDERICK .00 .00 .00 .000 .250 .300 $1,200,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 8
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103197 ZUNGU YELLEDTH 60 HEATHER LANE PARAMUS NJ 7652 $246,241.24
600103198 RAY HOWELL 2870 SANFORD RD NOLENSVILLE TN 37135 $259,201.31
600103199 NEWMAN ROBERT 9422 N 43RD PLACE PHOENIX AZ 85028 $430,705.49
600103201 GAINES MICHAEL 6591 KENTWOOD BLUFFS DR LOS ANGELES CA 90045 $431,669.86
600103202 WHEELER JAMES 252 L ROAD ROLLINS MT 59931 $246,395.58
600103203 PICKLE ELAINE 12923 LAKE CENTER RUN HOUSTON TX 77041 $242,374.49
600103206 ENGEL DAVID 2844 AVENIDA VALERA CARLSBAD CA 92009 $242,990.35
600103207 FLORES DAVID 265 S PERALTA WAY ANAHEIM CA 92807 $398,830.87
600103208 SILIANOFF JAMES 6207 PENFIELD AVE LOS ANGELES CA 91367 $352,861.59
600103209 AGNESS JOHN 24872 SAUSALITO ST LAGUNA HILL CA 92653 $268,831.47
600103210 DENIS MARK 40373 BEECHWOOD CT NORTHVILLE MI 48167 $259,387.84
600103211 LINDQUIST RONALD 1604 WILDHORSE PRKWY DR CHESTERFIEL MO 63005 $298,130.55
600103212 NICHOLS MICHAEL 1523 E MENDOCINO ST ALTADENA CA 91001 $329,496.30
600103214 VAUGHN KENNETH 5208 E WYNDEMERE CT FT WAYNE IN 46835 $238,319.53
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103197 ZUNGU YELLEDTH 7.375 .250 7.125 .0500 7.075 09/01/2027
600103198 RAY HOWELL 7.375 .250 7.125 .0500 7.075 09/01/2027
600103199 NEWMAN ROBERT 7.500 .250 7.250 .0500 7.200 09/01/2027
600103201 GAINES MICHAEL 7.375 .250 7.125 .0500 7.075 09/01/2027
600103202 WHEELER JAMES 7.750 .250 7.500 .0500 7.450 09/01/2027
600103203 PICKLE ELAINE 7.500 .250 7.250 .0500 7.200 09/01/2027
600103206 ENGEL DAVID 7.750 .250 7.500 .0500 7.450 09/01/2027
600103207 FLORES DAVID 7.625 .250 7.375 .0500 7.325 09/01/2027
600103208 SILIANOFF JAMES 7.625 .250 7.375 .0500 7.325 09/01/2027
600103209 AGNESS JOHN 7.750 .250 7.500 .0500 7.450 09/01/2027
600103210 DENIS MARK 7.250 .250 7.000 .0500 6.950 10/01/2027
600103211 LINDQUIST RONALD 7.500 .250 7.250 .0500 7.200 10/01/2027
600103212 NICHOLS MICHAEL 7.750 .250 7.500 .0500 7.450 10/01/2027
600103214 VAUGHN KENNETH 7.625 .250 7.375 .0500 7.325 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>
600103197 ZUNGU YELLEDTH 450833330 $1,705.97 01/01/1998 360
600103198 RAY HOWELL 450833892 $1,795.76 01/01/1998 360
600103199 NEWMAN ROBERT 450834320 $3,020.61 01/01/1998 360
600103201 GAINES MICHAEL 450834502 $2,990.63 01/01/1998 360
600103202 WHEELER JAMES 450835012 $1,770.26 01/01/1998 360
600103203 PICKLE ELAINE 450835723 $1,711.68 01/01/1998 360
600103206 ENGEL DAVID 450836796 $1,748.05 01/01/1998 360
600103207 FLORES DAVID 450836838 $2,831.18 01/01/1998 360
600103208 SILIANOFF JAMES 450836903 $2,508.43 01/01/1998 360
600103209 AGNESS JOHN 450836911 $1,931.45 01/01/1998 360
600103210 DENIS MARK 450838909 $1,773.66 01/01/1998 360
600103211 LINDQUIST RONALD 450839261 $2,089.26 2 01/01/1998 360
600103212 NICHOLS MICHAEL 450840558 $2,365.60 01/01/1998 360
600103214 VAUGHN KENNETH 450842109 $1,698.36 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103197 ZUNGU YELLEDTH .00 .00 .00 .000 .250 .300 $350,000.00 N
600103198 RAY HOWELL .00 .00 .00 .000 .250 .300 $410,000.00 N
600103199 NEWMAN ROBERT .00 .00 .00 .000 .250 .300 $760,000.00 N
600103201 GAINES MICHAEL .00 .00 .00 .000 .250 .300 $650,000.00 N
600103202 WHEELER JAMES .00 .00 .00 .000 .250 .300 $353,000.00 N
600103203 PICKLE ELAINE .00 .00 .00 .000 .250 .300 $306,000.00 N
600103206 ENGEL DAVID .00 .00 .00 .000 .250 .300 $305,000.00 N
600103207 FLORES DAVID .00 .00 .00 .000 .250 .300 $718,000.00 N
600103208 SILIANOFF JAMES .00 .00 .00 .000 .250 .300 $443,000.00 N
600103209 AGNESS JOHN .00 .00 .00 .000 .250 .300 $337,000.00 N
600103210 DENIS MARK .00 .00 .00 .000 .250 .300 $354,200.00 N
600103211 LINDQUIST RONALD .00 .00 .00 .000 .250 .300 $332,000.00 N
600103212 NICHOLS MICHAEL .00 .00 .00 .000 .250 .300 $600,000.00 N
600103214 VAUGHN KENNETH .00 .00 .00 .000 .250 .300 $370,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 9
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103218 WILLIAMSON DEREK 6 HIDDEN LAKE COURT MT. LAUREL NJ 8054 $263,393.62
600103219 RUSSELL FRANK 1175 COMSTOCK ROAD HOLLISTER CA 95023 $294,431.77
600103220 JOB RORY 2 FIERRO IRVINE CA 92614 $306,062.73
600103221 BOWDREN WILLIAM 2 DORRNEY COURT KITTERY ME 3905 $286,993.28
600103222 STEPHENS WARREN 2704 ROLLO ROAD SANTA ROSA CA 95404 $415,612.41
600103223 PRESSLER SCOTT 11 APPALOOSA TRAIL HOLLAND PA 18966 $250,005.06
600103224 GILES WILLIAM 4821 SCREECH OWL CREEK RD SHINGLE SPR CA 95682 $236,682.56
600103225 PETRO CHRISTOPHE 17 RUTGERS PLACE HILLSDALE NJ 7646 $234,499.20
600103226 SULLIVAN KEVIN 2033 DELANCEY ST PHILADELPHI PA 19103 $370,773.08
600103227 WONG MICHAEL 49 CREEKVIEW ROAD COTO DE CAZ CA 92679 $282,050.69
600103228 EBENSTEIN RICHARD 6 DARLING ROAD WALDWICK NJ 7463 $239,425.99
600103229 SUNG GENE 737 VINE STREET DENVER CO 80206 $343,320.32
600103230 CARSON STEVEN 3141 BARRY AVENUE LOS ANGELES CA 90066 $240,759.39
600103232 MIXSON FRANK 1438 WOODPOND ROUNDABOUT CARMEL IN 46033 $284,242.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103218 WILLIAMSON DEREK 7.375 .250 7.125 .0500 7.075 10/01/2027
600103219 RUSSELL FRANK 8.250 .250 8.000 .0500 7.950 10/01/2027
600103220 JOB RORY 7.500 .250 7.250 .0500 7.200 10/01/2027
600103221 BOWDREN WILLIAM 7.500 .250 7.250 .0500 7.200 10/01/2027
600103222 STEPHENS WARREN 7.750 .250 7.500 .0500 7.450 10/01/2027
600103223 PRESSLER SCOTT 8.125 .250 7.875 .0500 7.825 10/01/2027
600103224 GILES WILLIAM 7.375 .250 7.125 .0500 7.075 10/01/2017
600103225 PETRO CHRISTOPHE 7.750 .250 7.500 .0500 7.450 10/01/2027
600103226 SULLIVAN KEVIN 7.000 .250 6.750 .0500 6.700 10/01/2027
600103227 WONG MICHAEL 7.375 .250 7.125 .0500 7.075 10/01/2027
600103228 EBENSTEIN RICHARD 8.125 .250 7.875 .0500 7.825 10/01/2027
600103229 SUNG GENE 8.125 .250 7.875 .0500 7.825 10/01/2027
600103230 CARSON STEVEN 7.500 .250 7.250 .0500 7.200 10/01/2027
600103232 MIXSON FRANK 7.750 .250 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>
600103218 WILLIAMSON DEREK 450843297 $1,823.39 01/01/1998 360
600103219 RUSSELL FRANK 450843636 $2,216.24 01/01/1998 360
600103220 JOB RORY 450843685 $2,144.85 01/01/1998 360
600103221 BOWDREN WILLIAM 450844170 $2,013.74 01/01/1998 360
600103222 STEPHENS WARREN 450844550 $2,983.86 01/01/1998 360
600103223 PRESSLER SCOTT 450845730 $1,859.96 01/01/1998 360
600103224 GILES WILLIAM 450846035 $1,899.17 01/01/1998 240
600103225 PETRO CHRISTOPHE 450846076 $1,683.57 01/01/1998 360
600103226 SULLIVAN KEVIN 450846878 $2,474.93 01/01/1998 360
600103227 WONG MICHAEL 450847413 $1,952.54 01/01/1998 360
600103228 EBENSTEIN RICHARD 450847652 $1,781.26 01/01/1998 360
600103229 SUNG GENE 450848056 $2,554.20 01/01/1998 360
600103230 CARSON STEVEN 450848148 $1,687.21 01/01/1998 360
600103232 MIXSON FRANK 450848973 $2,040.71 3 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103218 WILLIAMSON DEREK .00 .00 .00 .000 .250 .300 $330,000.00 N
600103219 RUSSELL FRANK .00 .00 .00 .000 .250 .300 $405,000.00 N
600103220 JOB RORY .00 .00 .00 .000 .250 .300 $409,000.00 N
600103221 BOWDREN WILLIAM .00 .00 .00 .000 .250 .300 $360,000.00 N
600103222 STEPHENS WARREN .00 .00 .00 .000 .250 .300 $595,000.00 N
600103223 PRESSLER SCOTT .00 .00 .00 .000 .250 .300 $313,159.00 N
600103224 GILES WILLIAM .00 .00 .00 .000 .250 .300 $315,000.00 N
600103225 PETRO CHRISTOPHE .00 .00 .00 .000 .250 .300 $296,000.00 N
600103226 SULLIVAN KEVIN .00 .00 .00 .000 .250 .300 $465,000.00 N
600103227 WONG MICHAEL .00 .00 .00 .000 .250 .300 $353,429.00 N
600103228 EBENSTEIN RICHARD .00 .00 .00 .000 .250 .300 $300,000.00 N
600103229 SUNG GENE .00 .00 .00 .000 .250 .300 $430,000.00 N
600103230 CARSON STEVEN .00 .00 .00 .000 .250 .300 $330,000.00 N
600103232 MIXSON FRANK .00 .00 .00 .000 .250 .300 $316,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 10
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103233 JONES CLAY 24532 VIA DEL ORO LAGUNA NIGU CA 92677 $251,213.50
600103234 FIGUEREDO FRANCISCO 6275 NW 104TH WAY PARKLAND FL 33076 $275,062.54
600103237 ALBRIGHT CLIFTON 15195 CARRETERA DRIVE WHITTIER CA 90605 $249,467.20
600103238 STANLEY KENNETH 3 MILLERS ROAD NEWTOWN PA 18940 $243,196.97
600103239 SHREVES DOUGLAS 7 BRIDGEWATER DR PRINCETON J NJ 8550 $321,659.50
600103240 HOUTSMA JOHN 1868 GORE CREEK DRIVE VAIL CO 81657 $296,251.23
600103241 SWINGER DOUGLAS 507 PRIMROSE PATH BRECKENRIDG CO 80424 $249,068.07
600103242 HICKEY MATTHEW 5989 S OGDEN CT LITTLETON CO 80121 $358,510.19
600103244 CLAY NEAL 11 PETTEE'S POND LANE WESTWOOD MA 2090 $446,996.28
600103245 BISBEE CHARLES 25466 PACIFIC HILLS DRIVE MISSION VIE CA 92692 $297,475.17
600103249 PARRILLI JOANNE 619 W MAIN STREET ST. CHARLES IL 60174 $330,793.55
600103251 HUGHES TRAVIS 6542 HALCYON DRVE MONTGOMERY AL 36117 $261,911.90
600103252 KEITH KENNETH 62 ACORN CLUSTER CT. THE WOODLAN TX 77381 $236,194.46
600103253 MATHIOS DAVID 5 ETON RD LIVINGSTON NJ 7039 $267,353.22
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103233 JONES CLAY 7.750 .250 7.500 .0500 7.450 10/01/2027
600103234 FIGUEREDO FRANCISCO 7.750 .250 7.500 .0500 7.450 10/01/2027
600103237 ALBRIGHT CLIFTON 7.750 .250 7.500 .0500 7.450 10/01/2027
600103238 STANLEY KENNETH 7.000 .250 6.750 .0500 6.700 10/01/2027
600103239 SHREVES DOUGLAS 7.375 .250 7.125 .0500 7.075 10/01/2027
600103240 HOUTSMA JOHN 7.625 .250 7.375 .0500 7.325 10/01/2027
600103241 SWINGER DOUGLAS 7.750 .250 7.500 .0500 7.450 10/01/2027
600103242 HICKEY MATTHEW 7.750 .250 7.500 .0500 7.450 10/01/2027
600103244 CLAY NEAL 7.500 .250 7.250 .0500 7.200 10/01/2027
600103245 BISBEE CHARLES 7.375 .250 7.125 .0500 7.075 10/01/2027
600103249 PARRILLI JOANNE 7.750 .250 7.500 .0500 7.450 10/01/2027
600103251 HUGHES TRAVIS 7.500 .250 7.250 .0500 7.200 10/01/2027
600103252 KEITH KENNETH 7.750 .250 7.500 .0500 7.450 10/01/2027
600103253 MATHIOS DAVID 7.125 .250 6.875 .0500 6.825 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>
600103233 JONES CLAY 450849385 $1,803.57 3 01/01/1998 360
600103234 FIGUEREDO FRANCISCO 450849542 $1,974.80 3 01/01/1998 360
600103237 ALBRIGHT CLIFTON 450850185 $1,791.04 01/01/1998 360
600103238 STANLEY KENNETH 450850532 $1,622.01 01/01/1998 360
600103239 SHREVES DOUGLAS 450851639 $2,226.74 01/01/1998 360
600103240 HOUTSMA JOHN 450852066 $2,101.44 01/01/1998 360
600103241 SWINGER DOUGLAS 450852140 $1,788.17 01/01/1998 360
600103242 HICKEY MATTHEW 450852231 $2,579.09 01/01/1998 360
600103244 CLAY NEAL 450852686 $3,132.49 01/01/1998 360
600103245 BISBEE CHARLES 450853692 $2,059.32 2 01/01/1998 360
600103249 PARRILLI JOANNE 450854914 $2,374.91 01/01/1998 360
600103251 HUGHES TRAVIS 450856562 $1,835.44 01/01/1998 360
600103252 KEITH KENNETH 450857040 $1,702.20 01/01/1998 360
600103253 MATHIOS DAVID 450857651 $1,805.57 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103233 JONES CLAY .00 .00 .00 .000 .250 .300 $265,000.00 N
600103234 FIGUEREDO FRANCISCO .00 .00 .00 .000 .250 .300 $290,200.00 N
600103237 ALBRIGHT CLIFTON .00 .00 .00 .000 .250 .300 $440,000.00 N
600103238 STANLEY KENNETH .00 .00 .00 .000 .250 .300 $304,832.00 N
600103239 SHREVES DOUGLAS .00 .00 .00 .000 .250 .300 $403,000.00 N
600103240 HOUTSMA JOHN .00 .00 .00 .000 .250 .300 $436,000.00 N
600103241 SWINGER DOUGLAS .00 .00 .00 .000 .250 .300 $312,000.00 N
600103242 HICKEY MATTHEW .00 .00 .00 .000 .250 .300 $460,000.00 N
600103244 CLAY NEAL .00 .00 .00 .000 .250 .300 $629,000.00 N
600103245 BISBEE CHARLES .00 .00 .00 .000 .250 .300 $331,298.00 N
600103249 PARRILLI JOANNE .00 .00 .00 .000 .250 .300 $1,000,000.00 N
600103251 HUGHES TRAVIS .00 .00 .00 .000 .250 .300 $350,000.00 N
600103252 KEITH KENNETH .00 .00 .00 .000 .250 .300 $297,000.00 N
600103253 MATHIOS DAVID .00 .00 .00 .000 .250 .300 $430,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 11
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103254 HAUG WILLIAM 19827 S MT ROAD SANTA PAULA CA 93060 $452,483.98
600103255 BELL EDWARD 3112 YALE AVENUE LOS ANGELES CA 90292 $319,881.71
600103256 DEPANTE JOSEPH 10650 SW 40TH MANOR DAVIE FL 33328 $256,937.32
600103257 BUCKEY JOHN 860 COSTA BRAVA CIRCLE CORONA CA 91719 $240,735.39
600103263 POMMERENING PAUL 7511 E DAY MOUNT SPOKANE MEAD WA 99021 $279,324.24
600103264 GAHAGAN WILLIAM 1071 WHALLEY ROAD CHARLOTTE VT 5445 $259,829.61
600103265 DAUS PAUL 103 DICKENS CT NORTH WALES PA 19454 $251,734.75
600103266 TRITICO LISA 10943 OCEAN DRIVE CULVER CITY CA 90230 $249,439.89
600103267 HULICK TROY 12747 LANTANA AVENUE SARATOGA CA 95070 $268,608.23
600103271 THOMAS JOHN 2600 PORTLAND AVENUE CHARLOTTE NC 28207 $349,196.09
600103272 ANGELUCCI THOMAS 19 JAZZ WAY MOUNT LAURE NJ 8054 $307,354.63
600103273 RUPPRECHT PHILIP 8201 S PECAN GROVE CIR TEMPE AZ 85284 $293,254.54
600103274 RENNEBOHM RON 1026 FARM TO MARKET RD MOUNT VERNO WA 98273 $367,235.23
600103275 ALLEN J. 1199 COPPERWOOD BLOOMFIELD MI 48304 $399,147.56
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103254 HAUG WILLIAM 7.500 .250 7.250 .0500 7.200 10/01/2027
600103255 BELL EDWARD 7.500 .250 7.250 .0500 7.200 10/01/2027
600103256 DEPANTE JOSEPH 7.625 .250 7.375 .0500 7.325 10/01/2027
600103257 BUCKEY JOHN 8.250 .250 8.000 .0500 7.950 10/01/2027
600103263 POMMERENING PAUL 7.125 .250 6.875 .0500 6.825 10/01/2027
600103264 GAHAGAN WILLIAM 7.750 .250 7.500 .0500 7.450 10/01/2027
600103265 DAUS PAUL 7.500 .250 7.250 .0500 7.200 10/01/2027
600103266 TRITICO LISA 7.500 .250 7.250 .0500 7.200 10/01/2027
600103267 HULICK TROY 7.625 .250 7.375 .0500 7.325 10/01/2027
600103271 THOMAS JOHN 7.375 .250 7.125 .0500 7.075 10/01/2027
600103272 ANGELUCCI THOMAS 7.250 .250 7.000 .0500 6.950 10/01/2027
600103273 RUPPRECHT PHILIP 8.000 .250 7.750 .0500 7.700 10/01/2027
600103274 RENNEBOHM RON 7.875 .250 7.625 .0500 7.575 10/01/2027
600103275 ALLEN J. 7.750 .250 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>
600103254 HAUG WILLIAM 450857966 $3,170.94 01/01/1998 360
600103255 BELL EDWARD 450857974 $2,241.69 3 01/01/1998 360
600103256 DEPANTE JOSEPH 450858139 $1,822.57 01/01/1998 360
600103257 BUCKEY JOHN 450858709 $1,812.06 01/01/1998 360
600103263 POMMERENING PAUL 450860937 $1,886.42 01/01/1998 360
600103264 GAHAGAN WILLIAM 450861554 $1,880.59 01/01/1998 360
600103265 DAUS PAUL 450861638 $1,764.12 01/01/1998 360
600103266 TRITICO LISA 450862461 $1,748.04 01/01/1998 360
600103267 HULICK TROY 450864400 $1,907.51 01/01/1998 360
600103271 THOMAS JOHN 450865316 $2,417.37 01/01/1998 360
600103272 ANGELUCCI THOMAS 450865647 $2,101.65 2 01/01/1998 360
600103273 RUPPRECHT PHILIP 450865829 $2,156.17 3 01/01/1998 360
600103274 RENNEBOHM RON 450866173 $2,668.26 3 01/01/1998 360
600103275 ALLEN J. 450866553 $2,865.65 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103254 HAUG WILLIAM .00 .00 .00 .000 .250 .300 $590,000.00 N
600103255 BELL EDWARD .00 .00 .00 .000 .250 .300 $337,500.00 N
600103256 DEPANTE JOSEPH .00 .00 .00 .000 .250 .300 $400,000.00 N
600103257 BUCKEY JOHN .00 .00 .00 .000 .250 .300 $301,554.00 Y
600103263 POMMERENING PAUL .00 .00 .00 .000 .250 .300 $374,950.00 N
600103264 GAHAGAN WILLIAM .00 .00 .00 .000 .250 .300 $350,000.00 N
600103265 DAUS PAUL .00 .00 .00 .000 .250 .300 $315,425.00 N
600103266 TRITICO LISA .00 .00 .00 .000 .250 .300 $325,000.00 N
600103267 HULICK TROY .00 .00 .00 .000 .250 .300 $450,000.00 N
600103271 THOMAS JOHN .00 .00 .00 .000 .250 .300 $575,000.00 N
600103272 ANGELUCCI THOMAS .00 .00 .00 .000 .250 .300 $342,330.00 N
600103273 RUPPRECHT PHILIP .00 .00 .00 .000 .250 .300 $326,500.00 N
600103274 RENNEBOHM RON .00 .00 .00 .000 .250 .300 $436,000.00 N
600103275 ALLEN J. .00 .00 .00 .000 .250 .300 $858,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 12
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103277 PAYNE ARTHUR 16893 DRIFTWOOD PLACE HUGHESVILLE MD 20637 $265,061.79
600103279 MITCHELL JOSEPH 4058 PIER POINT COURT BYRON CA 94514 $250,677.95
600103280 HANEY MICHAEL 195 PEMBROOKE CIRCLE PHOENIXVILL PA 19460 $331,198.76
600103281 BARNETT PAUL 176 CLUB COURSE DRIVE HILTON HEAD SC 29938 $299,360.67
600103284 JARDON STEPHEN 9 WOODHAVEN LANE IRVINE CA 92620 $427,609.49
600103285 CHARRETTE JAMES 4618 VALLICITO DRIVE YORBA LINDA CA 92886 $327,221.41
600103286 ENERIO ROLANDO 2848 MOONSTONE DRIVE SIGNAL HILL CA 90804 $269,052.16
600103287 GREENE GARY 8 VOORHEES DRIVE BASKING RID NJ 7920 $275,196.60
600103288 BUECHLER CARL 684 SUNSET COURT SHOREVIEW MN 55126 $471,493.06
600103289 ENSLIN KYLE 2161 EAST PARLEYS TERR SALT LAKE C UT 84109 $246,282.08
600103291 LIPKIN REGINA 15622 TWIN VALLEY COURT SILVER SPRI MD 20906 $265,547.00
600103292 CHRISTIAN ERIC 33552 WALNUT LANE FARMINGTON MI 48331 $255,366.78
600103293 HEMPE JERRY 826 AVENUE C REDONDO BEA CA 90277 $312,565.48
600103294 GANTOS PATRICK 3130 CLAY STREET NEWPORT BEA CA 92663 $342,166.67
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103277 PAYNE ARTHUR 8.000 .250 7.750 .0500 7.700 10/01/2027
600103279 MITCHELL JOSEPH 7.875 .250 7.625 .0500 7.575 10/01/2027
600103280 HANEY MICHAEL 7.125 .250 6.875 .0500 6.825 10/01/2027
600103281 BARNETT PAUL 7.750 .250 7.500 .0500 7.450 10/01/2027
600103284 JARDON STEPHEN 7.875 .250 7.625 .0500 7.575 10/01/2027
600103285 CHARRETTE JAMES 8.125 .250 7.875 .0500 7.825 10/01/2027
600103286 ENERIO ROLANDO 7.375 .250 7.125 .0500 7.075 10/01/2027
600103287 GREENE GARY 7.000 .250 6.750 .0500 6.700 10/01/2017
600103288 BUECHLER CARL 7.750 .250 7.500 .0500 7.450 10/01/2027
600103289 ENSLIN KYLE 8.000 .250 7.750 .0500 7.700 10/01/2027
600103291 LIPKIN REGINA 7.875 .250 7.625 .0500 7.575 10/01/2027
600103292 CHRISTIAN ERIC 7.000 .250 6.750 .0500 6.700 10/01/2027
600103293 HEMPE JERRY 7.625 .250 7.375 .0500 7.325 10/01/2027
600103294 GANTOS PATRICK 7.750 .250 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>
600103277 PAYNE ARTHUR 450867585 $1,948.88 01/01/1998 360
600103279 MITCHELL JOSEPH 450868203 $1,821.38 01/01/1998 360
600103280 HANEY MICHAEL 450868377 $2,236.75 01/01/1998 360
600103281 BARNETT PAUL 450868435 $2,149.24 01/01/1998 360
600103284 JARDON STEPHEN 450869862 $3,106.93 01/01/1998 360
600103285 CHARRETTE JAMES 450870175 $2,435.40 01/01/1998 360
600103286 ENERIO ROLANDO 450870266 $1,864.83 2 01/01/1998 360
600103287 GREENE GARY 450870563 $2,146.03 01/01/1998 240
600103288 BUECHLER CARL 450870621 $3,385.05 01/01/1998 360
600103289 ENSLIN KYLE 450870811 $1,834.42 01/01/1998 360
600103291 LIPKIN REGINA 450871025 $1,929.41 2 01/01/1998 360
600103292 CHRISTIAN ERIC 450871249 $1,703.18 2 01/01/1998 360
600103293 HEMPE JERRY 450872155 $2,217.17 01/01/1998 360
600103294 GANTOS PATRICK 450872205 $2,458.73 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103277 PAYNE ARTHUR .00 .00 .00 .000 .250 .300 $332,000.00 N
600103279 MITCHELL JOSEPH .00 .00 .00 .000 .250 .300 $314,740.00 N
600103280 HANEY MICHAEL .00 .00 .00 .000 .250 .300 $415,000.00 N
600103281 BARNETT PAUL .00 .00 .00 .000 .250 .300 $375,000.00 N
600103284 JARDON STEPHEN .00 .00 .00 .000 .250 .300 $540,000.00 N
600103285 CHARRETTE JAMES .00 .00 .00 .000 .250 .300 $440,000.00 N
600103286 ENERIO ROLANDO .00 .00 .00 .000 .250 .300 $300,000.00 N
600103287 GREENE GARY .00 .00 .00 .000 .250 .300 $367,000.00 N
600103288 BUECHLER CARL .00 .00 .00 .000 .250 .300 $675,000.00 N
600103289 ENSLIN KYLE .00 .00 .00 .000 .250 .300 $502,000.00 N
600103291 LIPKIN REGINA .00 .00 .00 .000 .250 .300 $310,000.00 N
600103292 CHRISTIAN ERIC .00 .00 .00 .000 .250 .300 $269,500.00 N
600103293 HEMPE JERRY .00 .00 .00 .000 .250 .300 $400,000.00 N
600103294 GANTOS PATRICK .00 .00 .00 .000 .250 .300 $429,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 13
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103296 KOTT DON 1010 N. HILLCREST ROAD BEVERLY HIL CA 90210 $1,222,699.79
600103298 GAYNOR JAMES 2701 MCKEAG DRIVE FT. COLLINS CO 80526 $264,305.87
600103299 PELLEGRINO MICHAEL 16 MINSINK LANE WHITEHSE ST NJ 8889 $313,931.86
600103300 WHITE CLIFFORD 3029 224TH AVENUE NE REDMOND WA 98053 $237,429.40
600103306 GILROY MARK 5605 E 109TH ST S TULSA OK 74137 $253,203.14
600103307 GUDMESTAD BELINDA 10208 OVERHILL DRIVE SANTA ANA CA 92705 $453,874.57
600103309 LINEHAN BRIAN 4 N 694 MAGNOLIA LANE WAYNE IL 60184 $247,304.82
600103311 WILHELM EDWARD 46608 SOUTHVIEW LANE PLYMOUTH MI 48170 $251,984.19
600103312 TOMA JEAN 27360 GLENWOOD DRIVE MISSION VIE CA 92692 $329,695.88
600103315 WHYTE BONNIE 1105 S VINE STREET PARK RIDGE IL 60068 $291,423.68
600103316 DOHERTY GERARD 2 CROSS CREEK LANE STONY POINT NY 10980 $323,625.82
600103317 MATUSHAK STEVE 525 PEMMICAN COURT FRISCO CO 80443 $284,596.40
600103319 REILLY PATRICK 371 WEST KNIGHT LANE TEMPE AZ 85284 $321,136.92
600103323 NICASTRI KEVIN 2 BARNUM COURT BREWSTER NY 10509 $283,088.31
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103296 KOTT DON 8.375 .250 8.125 .0500 8.075 10/01/2027
600103298 GAYNOR JAMES 7.500 .250 7.250 .0500 7.200 11/01/2027
600103299 PELLEGRINO MICHAEL 7.500 .250 7.250 .0500 7.200 11/01/2027
600103300 WHITE CLIFFORD 7.875 .250 7.625 .0500 7.575 10/01/2027
600103306 GILROY MARK 7.250 .250 7.000 .0500 6.950 11/01/2027
600103307 GUDMESTAD BELINDA 7.000 .250 6.750 .0500 6.700 10/01/2027
600103309 LINEHAN BRIAN 8.125 .250 7.875 .0500 7.825 11/01/2027
600103311 WILHELM EDWARD 7.500 .250 7.250 .0500 7.200 10/01/2027
600103312 TOMA JEAN 7.750 .250 7.500 .0500 7.450 10/01/2027
600103315 WHYTE BONNIE 8.000 .250 7.750 .0500 7.700 11/01/2027
600103316 DOHERTY GERARD 8.750 .250 8.500 .0500 8.450 11/01/2027
600103317 MATUSHAK STEVE 7.750 .250 7.500 .0500 7.450 11/01/2027
600103319 REILLY PATRICK 7.875 .250 7.625 .0500 7.575 11/01/2027
600103323 NICASTRI KEVIN 7.625 .250 7.375 .0500 7.325 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>
600103296 KOTT DON 450873963 $9,310.89 01/01/1998 360
600103298 GAYNOR JAMES 450874235 $1,850.83 01/01/1998 360
600103299 PELLEGRINO MICHAEL 450874326 $2,198.34 01/01/1998 360
600103300 WHITE CLIFFORD 450874979 $1,725.67 01/01/1998 360
600103306 GILROY MARK 450876420 $1,730.00 01/01/1998 360
600103307 GUDMESTAD BELINDA 450876685 $3,027.13 01/01/1998 360
600103309 LINEHAN BRIAN 450877204 $1,856.25 01/01/1998 360
600103311 WILHELM EDWARD 450877477 $1,765.87 01/01/1998 360
600103312 TOMA JEAN 450877865 $2,367.03 01/01/1998 360
600103315 WHYTE BONNIE 450878699 $2,146.27 01/01/1998 360
600103316 DOHERTY GERARD 450878715 $2,548.91 2 01/01/1998 360
600103317 MATUSHAK STEVE 450879184 $2,041.78 01/01/1998 360
600103319 REILLY PATRICK 450880174 $2,331.69 3 01/01/1998 360
600103323 NICASTRI KEVIN 450881255 $2,006.60 2 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103296 KOTT DON .00 .00 .00 .000 .250 .300 $1,750,000.00 N
600103298 GAYNOR JAMES .00 .00 .00 .000 .250 .300 $330,875.00 N
600103299 PELLEGRINO MICHAEL .00 .00 .00 .000 .250 .300 $393,000.00 N
600103300 WHITE CLIFFORD .00 .00 .00 .000 .250 .300 $340,000.00 N
600103306 GILROY MARK .00 .00 .00 .000 .250 .300 $317,000.00 N
600103307 GUDMESTAD BELINDA .00 .00 .00 .000 .250 .300 $625,000.00 N
600103309 LINEHAN BRIAN .00 .00 .00 .000 .250 .300 $570,000.00 N
600103311 WILHELM EDWARD .00 .00 .00 .000 .250 .300 $350,000.00 N
600103312 TOMA JEAN .00 .00 .00 .000 .250 .300 $413,000.00 N
600103315 WHYTE BONNIE .00 .00 .00 .000 .250 .300 $390,000.00 N
600103316 DOHERTY GERARD .00 .00 .00 .000 .250 .300 $360,000.00 N
600103317 MATUSHAK STEVE .00 .00 .00 .000 .250 .300 $605,000.00 N
600103319 REILLY PATRICK .00 .00 .00 .000 .250 .300 $380,000.00 N
600103323 NICASTRI KEVIN .00 .00 .00 .000 .250 .300 $315,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 14
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103324 O'HALLORAN CHRIS 39125 PITKIN AVE. STEAMBOAT S CO 80477 $253,050.07
600103325 PRING JOHN 9000 WAHA ROAD LEWISTON ID 83501 $399,168.73
600103326 HERTZ CHRISTOPHE 968 MISSION LANE SHOW LOW AZ 85901 $279,603.47
600103327 WRIGHT JOHN 656 HUNTER LANE LEWISBERRY PA 17339 $239,624.41
600103328 VELEZ GEORGE 4219 BEACH DR TROY MI 48098 $314,575.87
600103330 GAUTREAU JONATHAN 780 SCHOOLHOUSE ROAD SAN JOSE CA 95138 $291,037.54
600103331 MARBUT DEBRA 13633 WHITE ROCK STATION POWAY CA 92064 $349,478.86
600103333 COSGROVE WILLIAM 1749 PASEO CASTILLE CAMARILLO CA 93010 $242,592.37
600103334 WOELFEL BRUCE 14 EGRET ANTHONY NM 88021 $349,574.43
600103339 SCHUB DOUGLAS 22 WILLIAMSBURG LANE COTO DE CAZ CA 92679 $317,050.37
600103340 ANDROKITES ALICE 46 PASCAL AVE ROCKPORT ME 4843 $259,238.32
600103341 FRASER MELISSA 7614 CEDAR CREEK LOUISVILLE KY 40291 $239,165.70
600103342 WOOTAN GERALD 4320 E 100 ST. SOUTH TULSA OK 74137 $374,441.64
600103343 JOHN GEORGE 420 LIVE OAK DRIVE DANVILLE CA 94506 $310,037.67
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103324 O'HALLORAN CHRIS 7.875 .250 7.625 .0500 7.575 11/01/2027
600103325 PRING JOHN 7.875 .250 7.625 .0500 7.575 10/01/2027
600103326 HERTZ CHRISTOPHE 7.750 .250 7.500 .0500 7.450 11/01/2027
600103327 WRIGHT JOHN 7.250 .250 7.000 .0500 6.950 11/01/2027
600103328 VELEZ GEORGE 8.000 .250 7.750 .0500 7.700 11/01/2027
600103330 GAUTREAU JONATHAN 7.875 .250 7.625 .0500 7.575 11/01/2027
600103331 MARBUT DEBRA 7.500 .250 7.250 .0500 7.200 11/01/2027
600103333 COSGROVE WILLIAM 8.000 .250 7.750 .0500 7.700 11/01/2027
600103334 WOELFEL BRUCE 8.500 .250 8.250 .0500 8.200 11/01/2027
600103339 SCHUB DOUGLAS 7.750 .250 7.500 .0500 7.450 11/01/2027
600103340 ANDROKITES ALICE 7.875 .250 7.625 .0500 7.575 11/01/2027
600103341 FRASER MELISSA 7.875 .250 7.625 .0500 7.575 10/01/2027
600103342 WOOTAN GERALD 7.500 .250 7.250 .0500 7.200 11/01/2027
600103343 JOHN GEORGE 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>
600103324 O'HALLORAN CHRIS 450881420 $1,837.33 01/01/1998 360
600103325 PRING JOHN 450881453 $2,900.28 01/01/1998 360
600103326 HERTZ CHRISTOPHE 450881925 $2,005.96 01/01/1998 360
600103327 WRIGHT JOHN 450882279 $1,637.23 01/01/1998 360
600103328 VELEZ GEORGE 450882428 $2,311.36 01/01/1998 360
600103330 GAUTREAU JONATHAN 450882972 $2,113.15 01/01/1998 360
600103331 MARBUT DEBRA 450883012 $2,447.26 01/01/1998 360
600103333 COSGROVE WILLIAM 450883061 $1,785.40 01/01/1998 360
600103334 WOELFEL BRUCE 450883566 $2,691.20 01/01/1998 360
600103339 SCHUB DOUGLAS 450886874 $2,274.61 2 01/01/1998 360
600103340 ANDROKITES ALICE 450887054 $1,885.19 01/01/1998 360
600103341 FRASER MELISSA 450887419 $1,740.17 01/01/1998 360
600103342 WOOTAN GERALD 450887450 $2,622.06 01/01/1998 360
600103343 JOHN GEORGE 450887559 $2,171.07 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103324 O'HALLORAN CHRIS .00 .00 .00 .000 .250 .300 $316,800.00 N
600103325 PRING JOHN .00 .00 .00 .000 .250 .300 $500,000.00 N
600103326 HERTZ CHRISTOPHE .00 .00 .00 .000 .250 .300 $350,000.00 N
600103327 WRIGHT JOHN .00 .00 .00 .000 .250 .300 $353,500.00 N
600103328 VELEZ GEORGE .00 .00 .00 .000 .250 .300 $396,000.00 N
600103330 GAUTREAU JONATHAN .00 .00 .00 .000 .250 .300 $364,311.00 N
600103331 MARBUT DEBRA .00 .00 .00 .000 .250 .300 $557,000.00 N
600103333 COSGROVE WILLIAM .00 .00 .00 .000 .250 .300 $304,150.00 N
600103334 WOELFEL BRUCE .00 .00 .00 .000 .250 .300 $442,291.00 N
600103339 SCHUB DOUGLAS .00 .00 .00 .000 .250 .300 $334,219.00 N
600103340 ANDROKITES ALICE .00 .00 .00 .000 .250 .300 $325,000.00 N
600103341 FRASER MELISSA .00 .00 .00 .000 .250 .300 $300,000.00 N
600103342 WOOTAN GERALD .00 .00 .00 .000 .250 .300 $520,000.00 N
600103343 JOHN GEORGE .00 .00 .00 .000 .250 .300 $471,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 15
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103345 LORIO-JORDAN ALIDA 5930 S GARTH AVENUE LOS ANGELES CA 90056 $245,795.55
600103347 MCCABE DANIEL 2429 CHELMSFORD DRIVE CROFTON MD 21114 $283,871.00
600103348 HANSEN BRUCE 461 DELASALLE AVENUE NAPERVILLE IL 60565 $264,615.17
600103349 GRAMIAN YASSMIN 1327 PENNSRIDGE COURT DOWNINGTOWN PA 19335 $259,253.64
600103351 MCKEE JOHN 1111 COUNTRY CLUB RD. SANTA TERES NM 88008 $290,566.71
600103353 MONFORE PETER 48 SILKWOOD ALISO VIEJO CA 92656 $289,987.17
600103357 RODDEL THOMAS 11611 HEATHCLIFF DRIVE SANTA ANA CA 92705 $471,813.85
600103358 EVEN LAWRENCE 2432 LARIAT LANE WALNUT CREE CA 94596 $283,497.47
600103359 HIMSWORTH DANIEL 614 WESTBOURNE ROAD HARLEYSVILL PA 19438 $245,310.77
600103362 MCFARLAND ROBERT 2257 38TH PLACE EAST SEATTLE WA 98112 $299,585.73
600103363 BOYNTON RICHARD 6 CULLEN WAY EXETER NH 3833 $249,627.76
600103366 SCHEEL ELIZABETH 53 FOREST RD GLEN ROCK NJ 7452 $267,130.59
600103367 MCMULLIN CLAUDE 10650 STOKES AVENUE CUPERTINO CA 95014 $319,446.19
600103369 CAMPBELL E. 33 BROOKSIDE ROAD WALLINGFORD PA 19086 $242,655.87
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103345 LORIO-JORDAN ALIDA 7.625 .250 7.375 .0500 7.325 11/01/2027
600103347 MCCABE DANIEL 7.750 .250 7.500 .0500 7.450 11/01/2027
600103348 HANSEN BRUCE 7.625 .250 7.375 .0500 7.325 11/01/2027
600103349 GRAMIAN YASSMIN 7.375 .250 7.125 .0500 7.075 11/01/2027
600103351 MCKEE JOHN 7.500 .250 7.250 .0500 7.200 11/01/2027
600103353 MONFORE PETER 7.750 .250 7.500 .0500 7.450 11/01/2027
600103357 RODDEL THOMAS 7.625 .250 7.375 .0500 7.325 11/01/2027
600103358 EVEN LAWRENCE 6.625 .250 6.375 .0500 6.325 11/01/2027
600103359 HIMSWORTH DANIEL 7.875 .250 7.625 .0500 7.575 11/01/2027
600103362 MCFARLAND ROBERT 7.875 .250 7.625 .0500 7.575 11/01/2027
600103363 BOYNTON RICHARD 7.500 .250 7.250 .0500 7.200 11/01/2027
600103366 SCHEEL ELIZABETH 7.875 .250 7.625 .0500 7.575 11/01/2027
600103367 MCMULLIN CLAUDE 7.750 .250 7.500 .0500 7.450 11/01/2027
600103369 CAMPBELL E. 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>
600103345 LORIO-JORDAN ALIDA 450887971 $1,742.26 01/01/1998 360
600103347 MCCABE DANIEL 450888193 $2,037.84 3 01/01/1998 360
600103348 HANSEN BRUCE 450889019 $1,875.66 2 01/01/1998 360
600103349 GRAMIAN YASSMIN 450889233 $1,793.34 2 01/01/1998 360
600103351 MCKEE JOHN 450890603 $2,034.72 01/01/1998 360
600103353 MONFORE PETER 450891684 $2,081.90 01/01/1998 360
600103357 RODDEL THOMAS 450893136 $3,344.33 01/01/1998 360
600103358 EVEN LAWRENCE 450893276 $1,818.49 01/01/1998 360
600103359 HIMSWORTH DANIEL 450893540 $1,781.14 2 01/01/1998 360
600103362 MCFARLAND ROBERT 450893813 $2,175.21 01/01/1998 360
600103363 BOYNTON RICHARD 450893995 $1,748.04 01/01/1998 360
600103366 SCHEEL ELIZABETH 450894613 $1,939.57 01/01/1998 360
600103367 MCMULLIN CLAUDE 450894654 $2,292.52 01/01/1998 360
600103369 CAMPBELL E. 450895511 $1,740.89 2 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103345 LORIO-JORDAN ALIDA .00 .00 .00 .000 .250 .300 $350,000.00 N
600103347 MCCABE DANIEL .00 .00 .00 .000 .250 .300 $299,485.00 N
600103348 HANSEN BRUCE .00 .00 .00 .000 .250 .300 $294,500.00 N
600103349 GRAMIAN YASSMIN .00 .00 .00 .000 .250 .300 $288,500.00 N
600103351 MCKEE JOHN .00 .00 .00 .000 .250 .300 $425,000.00 N
600103353 MONFORE PETER .00 .00 .00 .000 .250 .300 $363,252.00 N
600103357 RODDEL THOMAS .00 .00 .00 .000 .250 .300 $630,000.00 N
600103358 EVEN LAWRENCE .00 .00 .00 .000 .250 .300 $355,000.00 Y
600103359 HIMSWORTH DANIEL .00 .00 .00 .000 .250 .300 $272,995.00 N
600103362 MCFARLAND ROBERT .00 .00 .00 .000 .250 .300 $439,000.00 N
600103363 BOYNTON RICHARD .00 .00 .00 .000 .250 .300 $350,000.00 N
600103366 SCHEEL ELIZABETH .00 .00 .00 .000 .250 .300 $345,000.00 N
600103367 MCMULLIN CLAUDE .00 .00 .00 .000 .250 .300 $500,000.00 N
600103369 CAMPBELL E. .00 .00 .00 .000 .250 .300 $270,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 16
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103371 SANTUCCI STEVEN 19 WEISS RD. SADDLE RIVE NJ 7458 $246,876.67
600103372 WORNER RICHARD 9998 GRATON ROAD SEBASTOPOL CA 95472 $239,651.18
600103373 MAPES KEVIN 1951 MAYFIELD AVENUE SAN JOSE CA 95130 $261,579.71
600103374 MORIOKA DENNIS 4206 LENORE STREET TORRANCE CA 90503 $249,636.95
600103375 MCQUAID SUSAN 26 LAURELWOOD DRIVE FLETCHER NC 28732 $264,674.63
600103377 GOERTZ STEVEN 1666 N EAST BUTTE RD. JACKSON WY 83001 $331,529.84
600103378 SEDA ALBERT 11966 WINDOM PEAK WAY SAN DIEGO CA 92131 $239,433.94
600103382 STILLE GENE 6111 WILD HORSE VALLEY RD NAPA CA 94558 $534,261.20
600103384 WALSH KAREN 324-324A DUNCAN STREET SAN FRANCIS CA 94114 $279,593.39
600103385 OBERMAN RON 12205 VIEWCREST RD STUDIO CITY CA 91604 $353,147.49
600103387 HUFF DENNIS 600 JACQUELINNE COURT HOLLAND OH 43528 $265,160.22
600103388 SAEED HAROON 663 N HEILBRON DRIVE MEDIA PA 19063 $379,359.67
600103390 LE ROY ROBERT 1716 LAS GALLINAS SAN RAFAEL CA 94903 $267,600.96
600103391 FRANKONI STEPHAN 1962 EUCALYPTUS AVENUE SAN CARLOS CA 94070 $239,700.60
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103371 SANTUCCI STEVEN 8.250 .250 8.000 .0500 7.950 11/01/2027
600103372 WORNER RICHARD 7.625 .250 7.375 .0500 7.325 11/01/2027
600103373 MAPES KEVIN 7.125 .250 6.875 .0500 6.825 11/01/2027
600103374 MORIOKA DENNIS 7.625 .250 7.375 .0500 7.325 11/01/2027
600103375 MCQUAID SUSAN 7.750 .250 7.500 .0500 7.450 11/01/2027
600103377 GOERTZ STEVEN 7.750 .250 7.500 .0500 7.450 11/01/2027
600103378 SEDA ALBERT 7.375 .250 7.125 .0500 7.075 11/01/2027
600103382 STILLE GENE 7.875 .250 7.625 .0500 7.575 11/01/2027
600103384 WALSH KAREN 7.625 .250 7.375 .0500 7.325 11/01/2027
600103385 OBERMAN RON 8.250 .250 8.000 .0500 7.950 11/01/2027
600103387 HUFF DENNIS 8.250 .250 8.000 .0500 7.950 11/01/2027
600103388 SAEED HAROON 6.875 .250 6.625 .0500 6.575 11/01/2027
600103390 LE ROY ROBERT 7.500 .250 7.250 .0500 7.200 11/01/2027
600103391 FRANKONI STEPHAN 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>
600103371 SANTUCCI STEVEN 450896022 $1,863.15 01/01/1998 360
600103372 WORNER RICHARD 450896287 $1,698.71 01/01/1998 360
600103373 MAPES KEVIN 450896295 $1,765.15 01/01/1998 360
600103374 MORIOKA DENNIS 450896303 $1,769.49 01/01/1998 360
600103375 MCQUAID SUSAN 450897798 $1,898.86 2 01/01/1998 360
600103377 GOERTZ STEVEN 450898291 $2,378.49 01/01/1998 360
600103378 SEDA ALBERT 450900535 $1,656.24 3 01/01/1998 360
600103382 STILLE GENE 450901053 $3,879.13 01/01/1998 360
600103384 WALSH KAREN 450901376 $1,981.83 01/01/1998 360
600103385 OBERMAN RON 450901715 $2,656.48 01/01/1998 360
600103387 HUFF DENNIS 450902945 $1,994.62 2 01/01/1998 360
600103388 SAEED HAROON 450903166 $2,496.33 01/01/1998 360
600103390 LE ROY ROBERT 450904040 $1,873.90 01/01/1998 360
600103391 FRANKONI STEPHAN 450904339 $1,824.18 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103371 SANTUCCI STEVEN .00 .00 .00 .000 .250 .300 $310,000.00 N
600103372 WORNER RICHARD .00 .00 .00 .000 .250 .300 $339,500.00 N
600103373 MAPES KEVIN .00 .00 .00 .000 .250 .300 $327,500.00 N
600103374 MORIOKA DENNIS .00 .00 .00 .000 .250 .300 $315,000.00 N
600103375 MCQUAID SUSAN .00 .00 .00 .000 .250 .300 $279,000.00 N
600103377 GOERTZ STEVEN .00 .00 .00 .000 .250 .300 $415,000.00 N
600103378 SEDA ALBERT .00 .00 .00 .000 .250 .300 $284,833.00 N
600103382 STILLE GENE .00 .00 .00 .000 .250 .300 $710,000.00 N
600103384 WALSH KAREN .00 .00 .00 .000 .250 .300 $350,000.00 N
600103385 OBERMAN RON .00 .00 .00 .000 .250 .300 $620,000.00 N
600103387 HUFF DENNIS .00 .00 .00 .000 .250 .300 $295,000.00 N
600103388 SAEED HAROON .00 .00 .00 .000 .250 .300 $480,000.00 N
600103390 LE ROY ROBERT .00 .00 .00 .000 .250 .300 $400,000.00 N
600103391 FRANKONI STEPHAN .00 .00 .00 .000 .250 .300 $448,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 17
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103392 STEVENSON CRAIG 4255 WEST AVENUE LANCASTER CA 93536 $242,381.39
600103393 WALLACE RONALD 2870 MCDOWELL ROAD LAS CRUCES NM 88005 $254,638.87
600103394 BUENO FRED 3429 WOODSIDE COURT SAN JOSE CA 95121 $238,678.19
600103397 CALLAS PAUL 3385 MARTINI ROAD SPARKS NV 89434 $266,401.82
600103398 CASEY JOHN 3782 COVERT RD WATERFORD MI 48328 $284,606.44
600103399 WHITE RICHARD 0207 SPRING BEAUTY SILVERTHORN CO 80498 $276,467.69
600103400 MAXWELL JOHN 1506 BRANCH OWL PLACE SANTA ROSA CA 95409 $295,086.79
600103401 MASURET FRANCIS 27 LLOYD RD. BERNARDSVIL NJ 7924 $299,564.34
600103403 SCHNEIDER ADAM 2 VILLAGE DRIVE COLUMBUS NJ 8022 $274,536.60
600103404 LY JEAN TRAN 1651 42ND AVENUE SAN FRANCIS CA 94122 $244,752.90
600103406 WATSON IRENE 7050 BROOKSHIRE DRIVE DALLAS TX 75230 $242,029.97
600103407 SLOSBURG STANLEY 8 CREEKSIDE DRIVE RANCHO MIRA CA 92270 $372,158.78
600103408 LIN DAVID 2406 6TH STREET BURBANK CA 91504 $249,627.76
600103409 GRIFFIN WILLIAM 7411 WEST 82ND WESTCHESTER CA 90045 $292,461.42
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103392 STEVENSON CRAIG 8.125 .250 7.875 .0500 7.825 11/01/2027
600103393 WALLACE RONALD 7.750 .250 7.500 .0500 7.450 11/01/2027
600103394 BUENO FRED 8.000 .250 7.750 .0500 7.700 11/01/2027
600103397 CALLAS PAUL 7.500 .250 7.250 .0500 7.200 11/01/2027
600103398 CASEY JOHN 7.875 .250 7.625 .0500 7.575 11/01/2027
600103399 WHITE RICHARD 7.875 .250 7.625 .0500 7.575 11/01/2027
600103400 MAXWELL JOHN 7.875 .250 7.625 .0500 7.575 11/01/2027
600103401 MASURET FRANCIS 7.625 .250 7.375 .0500 7.325 11/01/2027
600103403 SCHNEIDER ADAM 6.875 .250 6.625 .0500 6.575 11/01/2027
600103404 LY JEAN TRAN 7.750 .250 7.500 .0500 7.450 11/01/2027
600103406 WATSON IRENE 7.375 .250 7.125 .0500 7.075 11/01/2027
600103407 SLOSBURG STANLEY 7.625 .250 7.375 .0500 7.325 11/01/2027
600103408 LIN DAVID 7.500 .250 7.250 .0500 7.200 11/01/2027
600103409 GRIFFIN WILLIAM 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>
600103392 STEVENSON CRAIG 450904628 $1,802.05 01/01/1998 360
600103393 WALLACE RONALD 450904958 $1,826.86 01/01/1998 360
600103394 BUENO FRED 450905179 $1,753.70 3 01/01/1998 360
600103397 CALLAS PAUL 450905955 $1,866.91 01/01/1998 360
600103398 CASEY JOHN 450906052 $2,066.45 01/01/1998 360
600103399 WHITE RICHARD 450906177 $2,007.36 01/01/1998 360
600103400 MAXWELL JOHN 450906292 $2,142.59 3 01/01/1998 360
600103401 MASURET FRANCIS 450906763 $2,123.39 01/01/1998 360
600103403 SCHNEIDER ADAM 450907126 $1,806.56 2 01/01/1998 360
600103404 LY JEAN TRAN 450907712 $1,755.93 2 01/01/1998 360
600103406 WATSON IRENE 450908546 $1,674.20 01/01/1998 360
600103407 SLOSBURG STANLEY 450908728 $2,637.95 01/01/1998 360
600103408 LIN DAVID 450908850 $1,748.04 01/01/1998 360
600103409 GRIFFIN WILLIAM 450908934 $2,103.03 3 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103392 STEVENSON CRAIG .00 .00 .00 .000 .250 .300 $350,000.00 N
600103393 WALLACE RONALD .00 .00 .00 .000 .250 .300 $369,000.00 N
600103394 BUENO FRED .00 .00 .00 .000 .250 .300 $271,000.00 N
600103397 CALLAS PAUL .00 .00 .00 .000 .250 .300 $384,000.00 N
600103398 CASEY JOHN .00 .00 .00 .000 .250 .300 $460,000.00 N
600103399 WHITE RICHARD .00 .00 .00 .000 .250 .300 $353,500.00 N
600103400 MAXWELL JOHN .00 .00 .00 .000 .250 .300 $330,000.00 N
600103401 MASURET FRANCIS .00 .00 .00 .000 .250 .300 $470,000.00 N
600103403 SCHNEIDER ADAM .00 .00 .00 .000 .250 .300 $305,600.00 N
600103404 LY JEAN TRAN .00 .00 .00 .000 .250 .300 $258,000.00 N
600103406 WATSON IRENE .00 .00 .00 .000 .250 .300 $303,000.00 N
600103407 SLOSBURG STANLEY .00 .00 .00 .000 .250 .300 $500,000.00 N
600103408 LIN DAVID .00 .00 .00 .000 .250 .300 $315,000.00 N
600103409 GRIFFIN WILLIAM .00 .00 .00 .000 .250 .300 $309,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 18
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103859 STAHURA, MICHAEL 1 PINTAIL IRVINE CA 92604 $424,997.35
600103860 BULLOCK, KATHY 4244 ELDER SEAL BEACH CA 90740 $258,422.38
600103861 JEON, DO 2239 AVALON COU BUFFALO GROVE IL 60089 $274,620.34
600103863 PETERSEN, SUSAN 12097 EAST SCOTTSDALE AZ 85259 $314,311.73
600103864 HOLTE, BARBARA 18 HENRY STREET SAN FRANCISCO CA 94114 $239,475.59
600103865 LEE, CHI-CHENG 1139 ELMSFORD D CUPERTINO CA 95014 $319,569.18
600103867 ELIASEN, RUNE 3842 PICARD AVE PLEASANTON CA 94588 $249,506.12
600103868 SHUKLA, SHYAM 44949 COUGAR CI FREMONT CA 94539 $247,657.61
600103870 LAM, JOHNSON 551 SEASTORM DR REDWOOD CITY CA 94065 $277,422.38
600103871 HORWALD, GARY 891 WINDSOR COU SANTA BARBARA CA 93111 $308,373.89
600103872 JEW, EDMOND 945 PORTOLA DRI SAN FRANCISCO CA 94127 $284,635.30
600103875 HOLLINGSWORTH, SANDRA 219 CHERYL BECK SAN JOSE CA 95119 $256,505.02
600103876 DOUGHTY, HELEN 3847 QUAIL RIDG LAFAYETTE CA 94549 $306,810.59
600103877 LILLEY, JESSE 1823 MANOR CT GREENVILLE NC 27858 $323,326.71
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103859 STAHURA, MICHAEL 7.750 .250 7.500 .0500 7.450 11/01/2027
600103860 BULLOCK, KATHY 7.625 .250 7.375 .0500 7.325 10/01/2027
600103861 JEON, DO 7.875 .250 7.625 .0500 7.575 11/01/2027
600103863 PETERSEN, SUSAN 7.625 .250 7.375 .0500 7.325 10/01/2027
600103864 HOLTE, BARBARA 7.625 .250 7.375 .0500 7.325 10/01/2027
600103865 LEE, CHI-CHENG 8.000 .250 7.750 .0500 7.700 11/01/2027
600103867 ELIASEN, RUNE 8.125 .250 7.875 .0500 7.825 10/01/2027
600103868 SHUKLA, SHYAM 7.875 .250 7.625 .0500 7.575 11/01/2027
600103870 LAM, JOHNSON 7.875 .250 7.625 .0500 7.575 10/01/2027
600103871 HORWALD, GARY 8.000 .250 7.750 .0500 7.700 10/01/2027
600103872 JEW, EDMOND 8.250 .250 8.000 .0500 7.950 11/01/2027
600103875 HOLLINGSWORTH, SANDRA 8.250 .250 8.000 .0500 7.950 10/01/2027
600103876 DOUGHTY, HELEN 8.250 .250 8.000 .0500 7.950 10/01/2027
600103877 LILLEY, JESSE 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>
600103859 STAHURA, MICHAEL 1062579 $3,049.05 01/01/1998 360
600103860 BULLOCK, KATHY 1062744 $1,840.26 01/01/1998 360
600103861 JEON, DO 1107291 $1,993.90 01/01/1998 360
600103863 PETERSEN, SUSAN 1133677 $2,229.55 01/01/1998 360
600103864 HOLTE, BARBARA 1140532 $1,698.70 01/01/1998 360
600103865 LEE, CHI-CHENG 1171008 $2,348.05 01/01/1998 360
600103867 ELIASEN, RUNE 1188291 $1,856.24 01/01/1998 360
600103868 SHUKLA, SHYAM 1195460 $1,798.17 01/01/1998 360
600103870 LAM, JOHNSON 1197284 $2,015.69 01/01/1998 360
600103871 HORWALD, GARY 1198522 $2,267.33 01/01/1998 360
600103872 JEW, EDMOND 1199223 $2,141.11 01/01/1998 360
600103875 HOLLINGSWORTH, SANDRA 1202266 $1,930.76 01/01/1998 360
600103876 DOUGHTY, HELEN 1202415 $2,366.49 01/01/1998 360
600103877 LILLEY, JESSE 1202605 $2,349.22 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103859 STAHURA, MICHAEL .00 .00 .00 .000 .250 .300 $532,000.00 N
600103860 BULLOCK, KATHY .00 .00 .00 .000 .250 .300 $325,000.00 N
600103861 JEON, DO .00 .00 .00 .000 .250 .300 $357,000.00 N
600103863 PETERSEN, SUSAN .00 .00 .00 .000 .250 .300 $565,000.00 N
600103864 HOLTE, BARBARA .00 .00 .00 .000 .250 .300 $500,000.00 N
600103865 LEE, CHI-CHENG .00 .00 .00 .000 .250 .300 $605,000.00 N
600103867 ELIASEN, RUNE .00 .00 .00 .000 .250 .300 $735,000.00 N
600103868 SHUKLA, SHYAM .00 .00 .00 .000 .250 .300 $630,000.00 N
600103870 LAM, JOHNSON .00 .00 .00 .000 .250 .300 $485,000.00 N
600103871 HORWALD, GARY .00 .00 .00 .000 .250 .300 $436,000.00 N
600103872 JEW, EDMOND .00 .00 .00 .000 .250 .300 $360,000.00 N
600103875 HOLLINGSWORTH, SANDRA .00 .00 .00 .000 .250 .300 $325,000.00 N
600103876 DOUGHTY, HELEN .00 .00 .00 .000 .250 .300 $420,000.00 N
600103877 LILLEY, JESSE .00 .00 .00 .000 .250 .300 $480,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 19
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103878 MOROS, MARCO 167 SAN PABLO A SAN FRANCISCO CA 94127 $317,148.75
600103879 HSU, DAVID 684 FONTES DRIV FREMONT CA 94539 $289,996.56
600103882 EISEL, LEO 5 LINDA ISLE NEWPORT BEACH CA 92660 $998,619.19
600103884 LEE, DAVID 19191 DAGMAR DR SARATOGA CA 95070 $299,360.71
600103886 GREER, KATHLEEN 21132 POST HUNTINGTON BEAC CA 92646 $248,664.82
600103887 BECKER, JOSEPH 430 WEST L ORANGE CA 92866 $235,698.08
600103888 LO, TERENCE 8 CRESTWOO IRVINE CA 92620 $289,037.90
600103890 SERA, BENJAMIN 1305 MOKAPU BO KAILUA HI 96734 $383,209.92
600103891 CIAMPOSSIN, PHILIPPE 841 GARY AVENUE SUNNYVALE CA 94086 $274,470.38
600103893 FLAMMER, TODD 6449 EAST HIGHT ORANGE CA 92867 $326,642.97
600103894 BALDWIN, PETER 3339 ONDULADO R PEBBLE BEACH CA 93953 $349,254.18
600103895 HENDERSON, JR., DAVID 2691 CAPELLA WA THOUSAND OAKS CA 91362 $281,713.41
600103896 DUGGAN, PATRICK 13804 MAUDE ROA VALLEY CENTER CA 92082 $235,944.75
600103897 ROMAN, PRUDENCIO 272 HIGH MEADOW SIMI VALLEY CA 93065 $306,423.56
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103878 MOROS, MARCO 7.875 .250 7.625 .0500 7.575 10/01/2027
600103879 HSU, DAVID 7.875 .250 7.625 .0500 7.575 10/01/2027
600103882 EISEL, LEO 7.875 .250 7.625 .0500 7.575 11/01/2027
600103884 LEE, DAVID 7.750 .250 7.500 .0500 7.450 10/01/2027
600103886 GREER, KATHLEEN 8.000 .250 7.750 .0500 7.700 11/01/2027
600103887 BECKER, JOSEPH 8.250 .250 8.000 .0500 7.950 11/01/2027
600103888 LO, TERENCE 7.750 .250 7.500 .0500 7.450 11/01/2027
600103890 SERA, BENJAMIN 8.000 .250 7.750 .0500 7.700 10/01/2027
600103891 CIAMPOSSIN, PHILIPPE 8.250 .250 8.000 .0500 7.950 10/01/2027
600103893 FLAMMER, TODD 7.375 .250 7.125 .0500 7.075 10/01/2027
600103894 BALDWIN, PETER 7.750 .250 7.500 .0500 7.450 10/01/2027
600103895 HENDERSON, JR., DAVID 7.875 .250 7.625 .0500 7.575 10/01/2027
600103896 DUGGAN, PATRICK 8.250 .250 8.000 .0500 7.950 10/01/2027
600103897 ROMAN, PRUDENCIO 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>
600103878 MOROS, MARCO 1203470 $2,305.72 01/01/1998 360
600103879 HSU, DAVID 1203587 $2,175.21 01/01/1998 360
600103882 EISEL, LEO 1205384 $7,250.69 01/01/1998 360
600103884 LEE, DAVID 1206432 $2,149.24 01/01/1998 360
600103886 GREER, KATHLEEN 1212596 $1,827.07 01/01/1998 360
600103887 BECKER, JOSEPH 1212653 $1,772.99 01/01/1998 360
600103888 LO, TERENCE 1212760 $2,074.01 01/01/1998 360
600103890 SERA, BENJAMIN 1215524 $2,824.99 01/01/1998 360
600103891 CIAMPOSSIN, PHILIPPE 1233683 $2,065.98 01/01/1998 360
600103893 FLAMMER, TODD 1234525 $2,265.41 01/01/1998 360
600103894 BALDWIN, PETER 1234574 $2,507.44 01/01/1998 360
600103895 HENDERSON, JR., DAVID 1234913 $2,046.87 01/01/1998 360
600103896 DUGGAN, PATRICK 1234939 $1,775.99 01/01/1998 360
600103897 ROMAN, PRUDENCIO 1235027 $2,333.42 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103878 MOROS, MARCO .00 .00 .00 .000 .250 .300 $660,000.00 N
600103879 HSU, DAVID .00 .00 .00 .000 .250 .300 $620,000.00 N
600103882 EISEL, LEO .00 .00 .00 .000 .250 .300 $1,865,000.00 N
600103884 LEE, DAVID .00 .00 .00 .000 .250 .300 $595,000.00 N
600103886 GREER, KATHLEEN .00 .00 .00 .000 .250 .300 $350,000.00 N
600103887 BECKER, JOSEPH .00 .00 .00 .000 .250 .300 $295,000.00 N
600103888 LO, TERENCE .00 .00 .00 .000 .250 .300 $361,900.00 N
600103890 SERA, BENJAMIN .00 .00 .00 .000 .250 .300 $485,000.00 N
600103891 CIAMPOSSIN, PHILIPPE .00 .00 .00 .000 .250 .300 $345,000.00 N
600103893 FLAMMER, TODD .00 .00 .00 .000 .250 .300 $410,000.00 N
600103894 BALDWIN, PETER .00 .00 .00 .000 .250 .300 $600,000.00 N
600103895 HENDERSON, JR., DAVID .00 .00 .00 .000 .250 .300 $352,888.00 N
600103896 DUGGAN, PATRICK .00 .00 .00 .000 .250 .300 $344,000.00 N
600103897 ROMAN, PRUDENCIO .00 .00 .00 .000 .250 .300 $560,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 20
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103898 PETERSON, CRISTOPHER 5213 INDEPENDEN PLEASANTON CA 94566 $292,513.07
600103899 FISHBACK, DENNIS 6122 OAKBRIDGE GRANITE BAY CA 95746 $349,215.92
600103900 SCHUSTER, PHILIP 6746 NORTH LONG LINCOLNWOOD IL 60646 $399,447.71
600103901 HALL, PAUL 31272 VIA PARRA SAN JUAN CAPIST CA 92675 $247,497.48
600103902 CHEN, YEA-JER 744 BODEGA COUR FREMONT CA 94539 $366,274.98
600103903 ROUGHLEY, DANIEL 838 SOUTH CALL ANAHEIM CA 92807 $238,503.33
600103904 LIU, CHUN-FANG 1453 CABRILLO A BURLINGAME CA 94010 $293,588.67
600103907 ERICKSON, DAVID 464 MONTORI COU PLEASANTON CA 94566 $349,342.86
600103911 GAL, UZI 2800 ANCHOR AVE LOS ANGELES CA 90064 $239,537.76
600103912 GARCIA, RAYMOND 62 ROCKWAY DRIV SAN JOSE CA 95127 $247,534.40
600103913 FRENCH, SHERRY 1628 CROSS BRID THOUSAND OAKS CA 91362 $452,308.15
600103914 HANNA, KANAAN 11225 WEST COAL LITTLETON CO 80127 $236,094.38
600103915 GUETTA, THIERRY 417 NORTH MANSF LOS ANGELES CA 90036 $367,504.57
600103916 ROSENBLATT, DONALD 221 23RD STREET MANHATTAN BEACH CA 90266 $274,428.56
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103898 PETERSON, CRISTOPHER 8.125 .250 7.875 .0500 7.825 10/01/2027
600103899 FISHBACK, DENNIS 7.500 .250 7.250 .0500 7.200 10/01/2027
600103900 SCHUSTER, PHILIP 7.875 .250 7.625 .0500 7.575 11/01/2027
600103901 HALL, PAUL 8.000 .250 7.750 .0500 7.700 10/01/2027
600103902 CHEN, YEA-JER 8.125 .250 7.875 .0500 7.825 10/01/2027
600103903 ROUGHLEY, DANIEL 7.875 .250 7.625 .0500 7.575 10/01/2027
600103904 LIU, CHUN-FANG 7.875 .250 7.625 .0500 7.575 10/01/2027
600103907 ERICKSON, DAVID 8.375 .250 8.125 .0500 8.075 10/01/2027
600103911 GAL, UZI 8.250 .250 8.000 .0500 7.950 10/01/2027
600103912 GARCIA, RAYMOND 8.375 .250 8.125 .0500 8.075 10/01/2027
600103913 FRENCH, SHERRY 7.875 .250 7.625 .0500 7.575 10/01/2027
600103914 HANNA, KANAAN 8.250 .250 8.000 .0500 7.950 10/01/2027
600103915 GUETTA, THIERRY 8.000 .250 7.750 .0500 7.700 11/01/2027
600103916 ROSENBLATT, DONALD 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>
600103898 PETERSON, CRISTOPHER 1235464 $2,182.94 01/01/1998 360
600103899 FISHBACK, DENNIS 1235514 $2,447.25 01/01/1998 360
600103900 SCHUSTER, PHILIP 1235522 $2,900.28 01/01/1998 360
600103901 HALL, PAUL 1235662 $1,819.74 01/01/1998 360
600103902 CHEN, YEA-JER 1235852 $2,724.96 01/01/1998 360
600103903 ROUGHLEY, DANIEL 1235894 $1,732.92 01/01/1998 360
600103904 LIU, CHUN-FANG 1236348 $2,133.15 01/01/1998 360
600103907 ERICKSON, DAVID 1237502 $2,660.25 01/01/1998 360
600103911 GAL, UZI 1241165 $1,803.04 01/01/1998 360
600103912 GARCIA, RAYMOND 1241827 $1,884.98 01/01/1998 360
600103913 FRENCH, SHERRY 1241983 $3,286.38 01/01/1998 360
600103914 HANNA, KANAAN 1242320 $1,777.12 1 01/01/1998 360
600103915 GUETTA, THIERRY 1243203 $2,700.25 01/01/1998 360
600103916 ROSENBLATT, DONALD 1243740 $1,993.94 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103898 PETERSON, CRISTOPHER .00 .00 .00 .000 .250 .300 $570,000.00 N
600103899 FISHBACK, DENNIS .00 .00 .00 .000 .250 .300 $590,000.00 N
600103900 SCHUSTER, PHILIP .00 .00 .00 .000 .250 .300 $510,000.00 N
600103901 HALL, PAUL .00 .00 .00 .000 .250 .300 $360,000.00 N
600103902 CHEN, YEA-JER .00 .00 .00 .000 .250 .300 $667,000.00 N
600103903 ROUGHLEY, DANIEL .00 .00 .00 .000 .250 .300 $300,000.00 N
600103904 LIU, CHUN-FANG .00 .00 .00 .000 .250 .300 $740,000.00 N
600103907 ERICKSON, DAVID .00 .00 .00 .000 .250 .300 $600,000.00 N
600103911 GAL, UZI .00 .00 .00 .000 .250 .300 $385,000.00 N
600103912 GARCIA, RAYMOND .00 .00 .00 .000 .250 .300 $310,000.00 N
600103913 FRENCH, SHERRY .00 .00 .00 .000 .250 .300 $566,573.00 N
600103914 HANNA, KANAAN .00 .00 .00 .000 .250 .300 $249,000.00 N
600103915 GUETTA, THIERRY .00 .00 .00 .000 .250 .300 $460,000.00 N
600103916 ROSENBLATT, DONALD .00 .00 .00 .000 .250 .300 $510,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 21
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103918 SWEENEY, JOSEPH 2682 ESTELLA DR SANTA CLARA CA 95051 $245,472.60
600103919 CHANG, CHEN-YOUNG 543 LOWER VINTN FREMONT CA 94539 $399,447.71
600103920 MACKINNON, W. 617 DON DRIVE ZEPHYR COVE NV 89448 $279,432.65
600103921 SWEET, JR., JIM 31 BUTTERMILK L SCOTTS VALLEY CA 95066 $285,634.66
600103922 PARK, JOHN 1806 WALNUT HOL BOULDER CO 80302 $284,616.30
600103923 PRINS, RONALD 10328 CERVEZA B ESCONDIDO CA 92026 $326,570.87
600103924 KUZMANOVIC, PETER 559 NORTH JUSTI HINSDALE IL 60521 $299,391.57
600103926 SLACK, RODNEY 8705 BELL MOUNT AUSTIN TX 78730 $237,737.53
600103927 HWANG, JYH-FUU 1595 HERON AVEN SUNNYVALE CA 94087 $299,606.28
600103928 BILBREY, REX 1900 NORTH OXFO LOS ANGELES CA 90027 $336,743.92
600103929 EOM, KI HOON 355 CASITAS AVE SAN FRANCISCO CA 94127 $385,506.12
600103930 DYKSTRA, MICHAEL 460 J AVENUE CORONADO CA 92118 $287,560.41
600103931 FALZONE, JOHN 1894 SUMMERTIME SIMI VALLEY CA 93065 $234,092.94
600103932 HEBERT, DERICK 745 SOUTH DOVE ANAHEIM CA 92808 $311,457.54
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103918 SWEENEY, JOSEPH 8.000 .250 7.750 .0500 7.700 11/01/2027
600103919 CHANG, CHEN-YOUNG 7.875 .250 7.625 .0500 7.575 11/01/2027
600103920 MACKINNON, W. 8.000 .250 7.750 .0500 7.700 10/01/2027
600103921 SWEET, JR., JIM 7.625 .250 7.375 .0500 7.325 11/01/2027
600103922 PARK, JOHN 8.000 .250 7.750 .0500 7.700 11/01/2027
600103923 PRINS, RONALD 8.125 .250 7.875 .0500 7.825 11/01/2027
600103924 KUZMANOVIC, PETER 8.000 .250 7.750 .0500 7.700 10/01/2027
600103926 SLACK, RODNEY 8.125 .250 7.875 .0500 7.825 11/01/2027
600103927 HWANG, JYH-FUU 8.125 .250 7.875 .0500 7.825 11/01/2027
600103928 BILBREY, REX 7.500 .250 7.250 .0500 7.200 10/01/2027
600103929 EOM, KI HOON 8.250 .250 8.000 .0500 7.950 11/01/2027
600103930 DYKSTRA, MICHAEL 7.375 .250 7.125 .0500 7.075 11/01/2027
600103931 FALZONE, JOHN 8.250 .250 8.000 .0500 7.950 10/01/2027
600103932 HEBERT, DERICK 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>
600103918 SWEENEY, JOSEPH 1244482 $1,805.06 01/01/1998 360
600103919 CHANG, CHEN-YOUNG 1244508 $2,900.28 01/01/1998 360
600103920 MACKINNON, W. 1244771 $2,054.54 01/01/1998 360
600103921 SWEET, JR., JIM 1244813 $2,024.64 01/01/1998 360
600103922 PARK, JOHN 1245224 $2,091.23 01/01/1998 360
600103923 PRINS, RONALD 1245281 $2,427.90 01/01/1998 360
600103924 KUZMANOVIC, PETER 1245323 $2,201.20 01/01/1998 360
600103926 SLACK, RODNEY 1245679 $1,767.51 01/01/1998 360
600103927 HWANG, JYH-FUU 1245794 $2,227.49 01/01/1998 360
600103928 BILBREY, REX 1246289 $2,359.85 01/01/1998 360
600103929 EOM, KI HOON 1246776 $2,899.89 01/01/1998 360
600103930 DYKSTRA, MICHAEL 1247121 $1,989.14 01/01/1998 360
600103931 FALZONE, JOHN 1247147 $1,766.60 01/01/1998 360
600103932 HEBERT, DERICK 1247345 $2,454.51 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103918 SWEENEY, JOSEPH .00 .00 .00 .000 .250 .300 $415,000.00 N
600103919 CHANG, CHEN-YOUNG .00 .00 .00 .000 .250 .300 $720,000.00 N
600103920 MACKINNON, W. .00 .00 .00 .000 .250 .300 $350,000.00 N
600103921 SWEET, JR., JIM .00 .00 .00 .000 .250 .300 $358,000.00 N
600103922 PARK, JOHN .00 .00 .00 .000 .250 .300 $365,000.00 N
600103923 PRINS, RONALD .00 .00 .00 .000 .250 .300 $420,000.00 N
600103924 KUZMANOVIC, PETER .00 .00 .00 .000 .250 .300 $560,000.00 N
600103926 SLACK, RODNEY .00 .00 .00 .000 .250 .300 $388,000.00 N
600103927 HWANG, JYH-FUU .00 .00 .00 .000 .250 .300 $405,000.00 N
600103928 BILBREY, REX .00 .00 .00 .000 .250 .300 $450,000.00 N
600103929 EOM, KI HOON .00 .00 .00 .000 .250 .300 $515,000.00 N
600103930 DYKSTRA, MICHAEL .00 .00 .00 .000 .250 .300 $430,000.00 N
600103931 FALZONE, JOHN .00 .00 .00 .000 .250 .300 $293,990.00 N
600103932 HEBERT, DERICK .00 .00 .00 .000 .250 .300 $418,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 22
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103933 LIANG, CHENG 1301 SCHOONER S FOSTER CITY CA 94404 $275,628.48
600103934 YICK, KARL 62 SABLE POINTE ALAMEDA CA 94502 $270,035.93
600103935 YU, JUNG-JI 20842 MAUREEN W SARATOGA CA 95070 $405,439.44
600103936 MCFADDIN, MELANIE 2505 BLUE BONNE HOUSTON TX 77030 $322,617.29
600103937 LEE, KIRK 1006 JOSHUA PLA FREMONT CA 94539 $301,619.05
600103940 HAN, ERIC 1465 MAXWELL WA SAN JOSE CA 95131 $269,645.62
600103941 LEONG, VAN 586 CLYDE COURT MILPITAS CA 95035 $297,598.78
600104490 MITCHELL 5813 SHADOW CANYON WAY BONITA CA 91902 $246,698.78
600104495 BARUCH 6506 MARYLAND DR LOS ANGELES CA 90048 $299,360.67
600104496 SAVIO SR 4074 SUNRISE LN SOUTH LAKE TAHO CA 96150 $269,627.16
600104497 SPRINGER 31932 VAI FAISAN TRABUCO CANYON CA 92679 $331,505.66
600104498 CALDWELL 31493 PASEO CHRISTINA SAN JUAN CAPO CA 92675 $303,547.35
600104499 HSIEH 1331 OAKLAWN RD ARCADIA CA 91006 $419,127.14
600104500 LEUNG 2260 LOOKOUT CIR LA VERNE CA 91750 $394,041.18
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103933 LIANG, CHENG 8.000 .250 7.750 .0500 7.700 11/01/2027
600103934 YICK, KARL 8.000 .250 7.750 .0500 7.700 11/01/2027
600103935 YU, JUNG-JI 7.875 .250 7.625 .0500 7.575 11/01/2027
600103936 MCFADDIN, MELANIE 8.625 .250 8.375 .0500 8.325 11/01/2027
600103937 LEE, KIRK 7.750 .250 7.500 .0500 7.450 11/01/2027
600103940 HAN, ERIC 8.125 .250 7.875 .0500 7.825 11/01/2027
600103941 LEONG, VAN 8.000 .250 7.750 .0500 7.700 11/01/2027
600104490 MITCHELL 8.375 .250 8.125 .0500 8.075 06/01/2027
600104495 BARUCH 7.750 .250 7.500 .0500 7.450 10/01/2027
600104496 SAVIO SR 7.875 .250 7.625 .0500 7.575 11/01/2027
600104497 SPRINGER 7.500 .250 7.250 .0500 7.200 11/01/2027
600104498 CALDWELL 7.500 .250 7.250 .0500 7.200 11/01/2027
600104499 HSIEH 7.875 .250 7.625 .0500 7.575 10/01/2027
600104500 LEUNG 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>
600103933 LIANG, CHENG 1248376 $2,025.19 01/01/1998 360
600103934 YICK, KARL 1248756 $1,984.10 01/01/1998 360
600103935 YU, JUNG-JI 1249366 $2,943.78 01/01/1998 360
600103936 MCFADDIN, MELANIE 1249820 $2,512.26 2 01/01/1998 360
600103937 LEE, KIRK 1250109 $2,170.73 01/01/1998 360
600103940 HAN, ERIC 1251743 $2,004.74 01/01/1998 360
600103941 LEONG, VAN 1252758 $2,186.62 01/01/1998 360
600104490 MITCHELL 9159786004 $1,883.46 12 01/01/1998 360
600104495 BARUCH 9159920116 $2,149.24 01/01/1998 360
600104496 SAVIO SR 9159960765 $1,957.69 01/01/1998 360
600104497 SPRINGER 9159980771 $2,321.40 01/01/1998 360
600104498 CALDWELL 9159980920 $2,125.62 01/01/1998 360
600104499 HSIEH 9169104438 $3,045.30 01/01/1998 360
600104500 LEUNG 9190010547 $2,826.97 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103933 LIANG, CHENG .00 .00 .00 .000 .250 .300 $473,000.00 N
600103934 YICK, KARL .00 .00 .00 .000 .250 .300 $358,000.00 N
600103935 YU, JUNG-JI .00 .00 .00 .000 .250 .300 $680,000.00 N
600103936 MCFADDIN, MELANIE .00 .00 .00 .000 .250 .300 $340,000.00 N
600103937 LEE, KIRK .00 .00 .00 .000 .250 .300 $600,000.00 N
600103940 HAN, ERIC .00 .00 .00 .000 .250 .300 $430,000.00 N
600103941 LEONG, VAN .00 .00 .00 .000 .250 .300 $510,000.00 N
600104490 MITCHELL .00 .00 .00 .000 .250 .300 $265,000.00 N
600104495 BARUCH .00 .00 .00 .000 .250 .300 $440,000.00 N
600104496 SAVIO SR .00 .00 .00 .000 .250 .300 $360,000.00 N
600104497 SPRINGER .00 .00 .00 .000 .250 .300 $525,000.00 N
600104498 CALDWELL .00 .00 .00 .000 .250 .300 $700,000.00 N
600104499 HSIEH .00 .00 .00 .000 .250 .300 $721,395.00 N
600104500 LEUNG .00 .00 .00 .000 .250 .300 $493,280.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 23
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104506 HONZ 3531 BRITTANY CT JAMUL CA 91935 $322,686.66
600104507 OUTCALT III 5217 FANUEL ST SAN DIEGO CA 92109 $235,484.29
600104510 GLICK SW CORNER OF 1ST CARMEL CA 93923 $306,377.89
600104512 WOODARD 75950 SARAZEN WAY PALM DESERT CA 92211 $279,403.28
600104519 GORDON 230 MARLENE DR SAN LUIS OBISPO CA 93405 $243,327.87
600104520 CAMPANA 251 PARSONS AVE SAN BUENAVENTUR CA 93003 $237,645.62
600104522 BARBER 8520 QUAIL OAKS DR GRANITE BAY CA 95746 $317,138.78
600104523 WAGNER 3961 AMERICAN RIVER DR SACRAMENTO CA 95864 $290,410.31
600104524 LANGLOIS 402 FEGHALI RD RAMONA CA 92065 $246,699.93
600104525 ALFANO 22760 CHARLEMONT PL LOS ANGELES CA 91364 $264,787.25
600104528 CARTER 9975 ELLENITA AVE LOS ANGELES CA 91356 $419,035.33
600104529 COVARRUBIAS 14541 CABINDA DR HACIENDA HEIGHT CA 91745 $350,772.75
600104533 LAZARA ONE CLARENCE PL U SAN FRANCISCO CA 94124 $269,409.54
600104534 CHRISTENSON 3023 11TH ST SANTA MONICA CA 90405 $246,486.67
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104506 HONZ 8.125 .250 7.875 .0500 7.825 07/01/2027
600104507 OUTCALT III 7.625 .250 7.375 .0500 7.325 10/01/2027
600104510 GLICK 8.000 .250 7.750 .0500 7.700 10/01/2027
600104512 WOODARD 7.750 .250 7.500 .0500 7.450 10/01/2027
600104519 GORDON 7.750 .250 7.500 .0500 7.450 10/01/2027
600104520 CAMPANA 7.500 .250 7.250 .0500 7.200 11/01/2027
600104522 BARBER 7.625 .250 7.375 .0500 7.325 11/01/2027
600104523 WAGNER 8.000 .250 7.750 .0500 7.700 10/01/2027
600104524 LANGLOIS 8.250 .250 8.000 .0500 7.950 08/01/2027
600104525 ALFANO 8.000 .250 7.750 .0500 7.700 10/01/2027
600104528 CARTER 7.375 .250 7.125 .0500 7.075 10/01/2027
600104529 COVARRUBIAS 7.875 .250 7.625 .0500 7.575 08/01/2027
600104533 LAZARA 7.625 .250 7.375 .0500 7.325 10/01/2027
600104534 CHRISTENSON 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>
600104506 HONZ 9199538522 $2,405.55 01/01/1998 360
600104507 OUTCALT III 9199540221 $1,670.40 01/01/1998 360
600104510 GLICK 9199583403 $2,252.66 01/01/1998 360
600104512 WOODARD 9199640492 $2,005.96 01/01/1998 360
600104519 GORDON 9199693004 $1,747.33 1 01/01/1998 360
600104520 CAMPANA 9199693954 $1,664.14 01/01/1998 360
600104522 BARBER 9199738544 $2,247.96 01/01/1998 360
600104523 WAGNER 9199739187 $2,135.26 01/01/1998 360
600104524 LANGLOIS 9199748139 $1,859.39 01/01/1998 360
600104525 ALFANO 9199755084 $1,948.15 2 01/01/1998 360
600104528 CARTER 9199759557 $2,900.84 01/01/1998 360
600104529 COVARRUBIAS 9199764193 $2,552.25 01/01/1998 360
600104533 LAZARA 9199798266 $1,911.05 01/01/1998 360
600104534 CHRISTENSON 9199799058 $1,790.93 2 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600104506 HONZ .00 .00 .00 .000 .250 .300 $415,995.00 N
600104507 OUTCALT III .00 .00 .00 .000 .250 .300 $295,000.00 N
600104510 GLICK .00 .00 .00 .000 .250 .300 $384,500.00 N
600104512 WOODARD .00 .00 .00 .000 .250 .300 $350,000.00 N
600104519 GORDON .00 .00 .00 .000 .250 .300 $271,000.00 N
600104520 CAMPANA .00 .00 .00 .000 .250 .300 $297,500.00 N
600104522 BARBER .00 .00 .00 .000 .250 .300 $475,000.00 N
600104523 WAGNER .00 .00 .00 .000 .250 .300 $435,000.00 N
600104524 LANGLOIS .00 .00 .00 .000 .250 .300 $315,000.00 N
600104525 ALFANO .00 .00 .00 .000 .250 .300 $295,000.00 N
600104528 CARTER .00 .00 .00 .000 .250 .300 $525,000.00 N
600104529 COVARRUBIAS .00 .00 .00 .000 .250 .300 $440,000.00 N
600104533 LAZARA .00 .00 .00 .000 .250 .300 $337,500.00 N
600104534 CHRISTENSON .00 .00 .00 .000 .250 .300 $260,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 24
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104535 DARLING 441 9TH ST MANHATTAN BEACH CA 90266 $344,227.04
600104542 BUNK 11729 SOLANA DR DUBLIN CA 94568 $254,629.69
600104543 FELLER 365 FLORENCE AVE OAKLAND CA 94618 $281,590.50
600104544 BELLINGER 1188 VIA JOSE SAN JOSE CA 95120 $350,113.60
600104545 RMOTT 194 QUAIL RUN RD APTOS CA 95003 $378,097.38
600104546 ECKHOFF 6961 LEE ST ARVADA CO 80004 $255,454.43
600104547 CLARKE 1366 HANCHETT AVE SAN JOSE CA 95126 $256,917.03
600104548 HAUSHALTER 25259 TERR GROVE RD LOS GATOS CA 95030 $430,150.04
600104549 TORCHIA 498 SILVER AVE HALF MOON BAY CA 94019 $351,211.37
600104550 RAYBURN 316 ARKANSAS ST SAN FRANCISCO CA 94107 $234,220.90
600104553 RYAN 6 WINFIELD ST SAN FRANCISCO CA 94110 $242,706.70
600104555 DZWONEK 764 ELIZABETH ST SAN FRANCISCO CA 94114 $309,322.58
600104557 CAMERON 4408 DULCINEA CT LOS ANGELES CA 91364 $413,471.57
600104559 EMME 1405 CRESSA CT CARLSBAD CA 92009 $413,428.31
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104535 DARLING 7.500 .250 7.250 .0500 7.200 10/01/2027
600104542 BUNK 7.625 .250 7.375 .0500 7.325 11/01/2027
600104543 FELLER 7.625 .250 7.375 .0500 7.325 11/01/2027
600104544 BELLINGER 8.125 .250 7.875 .0500 7.825 05/01/2027
600104545 RMOTT 8.125 .250 7.875 .0500 7.825 05/01/2027
600104546 ECKHOFF 7.750 .250 7.500 .0500 7.450 10/01/2027
600104547 CLARKE 7.875 .250 7.625 .0500 7.575 07/01/2027
600104548 HAUSHALTER 7.775 .250 7.525 .0500 7.475 07/01/2027
600104549 TORCHIA 7.500 .250 7.250 .0500 7.200 10/01/2027
600104550 RAYBURN 8.125 .250 7.875 .0500 7.825 08/01/2027
600104553 RYAN 7.625 .250 7.375 .0500 7.325 09/01/2027
600104555 DZWONEK 7.625 .250 7.375 .0500 7.325 10/01/2027
600104557 CAMERON 7.500 .250 7.250 .0500 7.200 10/01/2027
600104559 EMME 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>
600104535 DARLING 9199799918 $2,412.30 01/01/1998 360
600104542 BUNK 9199837999 $1,804.88 2 01/01/1998 360
600104543 FELLER 9199838294 $1,995.98 01/01/1998 360
600104544 BELLINGER 9199840415 $2,613.60 01/01/1998 360
600104545 RMOTT 9199841058 $2,840.06 01/01/1998 360
600104546 ECKHOFF 9199847295 $1,834.02 2 01/01/1998 360
600104547 CLARKE 9199868333 $1,870.69 01/01/1998 360
600104548 HAUSHALTER 9199868911 $3,102.37 01/01/1998 360
600104549 TORCHIA 9199911141 $2,461.24 01/01/1998 360
600104550 RAYBURN 9199911364 $1,744.87 01/01/1998 360
600104553 RYAN 9199912248 $1,725.25 01/01/1998 360
600104555 DZWONEK 9199913147 $2,194.17 01/01/1998 360
600104557 CAMERON 9199916264 $2,897.55 01/01/1998 360
600104559 EMME 9199923245 $3,001.79 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600104535 DARLING .00 .00 .00 .000 .250 .300 $740,000.00 N
600104542 BUNK .00 .00 .00 .000 .250 .300 $284,900.00 N
600104543 FELLER .00 .00 .00 .000 .250 .300 $352,500.00 N
600104544 BELLINGER .00 .00 .00 .000 .250 .300 $440,000.00 N
600104545 RMOTT .00 .00 .00 .000 .250 .300 $510,000.00 N
600104546 ECKHOFF .00 .00 .00 .000 .250 .300 $295,000.00 N
600104547 CLARKE .00 .00 .00 .000 .250 .300 $380,000.00 N
600104548 HAUSHALTER .00 .00 .00 .000 .250 .300 $540,000.00 N
600104549 TORCHIA .00 .00 .00 .000 .250 .300 $455,000.00 N
600104550 RAYBURN .00 .00 .00 .000 .250 .300 $302,000.00 N
600104553 RYAN .00 .00 .00 .000 .250 .300 $325,000.00 N
600104555 DZWONEK .00 .00 .00 .000 .250 .300 $500,000.00 N
600104557 CAMERON .00 .00 .00 .000 .250 .300 $518,000.00 N
600104559 EMME .00 .00 .00 .000 .250 .300 $540,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 25
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104560 RHODES 3062 APTOS HILLS LN APTOS CA 95003 $250,726.13
600104561 JENKINS 16715 CERRO VISTA DR MORGAN HILL CA 95037 $249,453.69
600104562 UPTON 2899 HELMSLEY DR SAN JOSE CA 95132 $266,416.56
600104563 RAMIREZ 5320 PACHECO PASS GILROY CA 95020 $234,423.18
600104564 STIDHAM 6821 PRESIDENTE DR HUNTINGTON BEAC CA 92648 $324,289.83
600104567 VERESS 16371 WIMBLEDON LN HUNTINGTON BEAC CA 92649 $265,717.94
600104570 PORTOCARRERO 2717 MIRA BELLA CIR MORGAN HILL CA 95037 $280,370.44
600104572 CHOU 4602 CADISON ST TORRANCE CA 90503 $235,657.28
600104573 STEFFLER 1319 CRANBROOK AVE TORRANCE CA 90503 $243,439.56
600104574 REDMAYNE 21701 EVALYN AVE TORRANCE CA 90503 $233,475.72
600104576 REA 2512 HERMOSA AVE HERMOSA BEACH CA 90254 $335,190.50
600104577 FONG 30340 AVENIDA DE CALMA RANCHO P V CA 90275 $347,507.17
600104578 ROTHMAN 22537 SUSANA AVE TORRANCE CA 90505 $259,612.87
600104579 CORWIN 31 8TH ST HERMOSA BEACH CA 90254 $352,474.40
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104560 RHODES 7.500 .250 7.250 .0500 7.200 11/01/2027
600104561 JENKINS 7.625 .250 7.375 .0500 7.325 10/01/2027
600104562 UPTON 7.625 .250 7.375 .0500 7.325 10/01/2027
600104563 RAMIREZ 7.500 .250 7.250 .0500 7.200 10/01/2027
600104564 STIDHAM 7.625 .250 7.375 .0500 7.325 10/01/2027
600104567 VERESS 8.125 .250 7.875 .0500 7.825 10/01/2027
600104570 PORTOCARRERO 7.500 .250 7.250 .0500 7.200 10/01/2027
600104572 CHOU 7.625 .250 7.375 .0500 7.325 11/01/2027
600104573 STEFFLER 7.375 .250 7.125 .0500 7.075 10/01/2027
600104574 REDMAYNE 7.500 .250 7.250 .0500 7.200 10/01/2027
600104576 REA 7.750 .250 7.500 .0500 7.450 10/01/2027
600104577 FONG 7.750 .250 7.500 .0500 7.450 11/01/2027
600104578 ROTHMAN 7.500 .250 7.250 .0500 7.200 11/01/2027
600104579 CORWIN 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>
600104560 RHODES 9199931339 $1,755.73 2 01/01/1998 360
600104561 JENKINS 9199931511 $1,769.49 01/01/1998 360
600104562 UPTON 9199931966 $1,889.81 2 01/01/1998 360
600104563 RAMIREZ 9199935009 $1,643.16 01/01/1998 360
600104564 STIDHAM 9199942047 $2,300.33 01/01/1998 360
600104567 VERESS 9199942724 $1,979.90 01/01/1998 360
600104570 PORTOCARRERO 9199952152 $1,964.80 01/01/1998 360
600104572 CHOU 9199955734 $1,670.40 01/01/1998 360
600104573 STEFFLER 9199962029 $1,685.25 01/01/1998 360
600104574 REDMAYNE 9199962656 $1,636.17 12 01/01/1998 360
600104576 REA 9199962979 $2,407.15 01/01/1998 360
600104577 FONG 9199963597 $2,493.12 01/01/1998 360
600104578 ROTHMAN 9199963639 $1,817.96 01/01/1998 360
600104579 CORWIN 9199963654 $2,468.23 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600104560 RHODES .00 .00 .00 .000 .250 .300 $279,000.00 N
600104561 JENKINS .00 .00 .00 .000 .250 .300 $332,000.00 N
600104562 UPTON .00 .00 .00 .000 .250 .300 $315,000.00 N
600104563 RAMIREZ .00 .00 .00 .000 .250 .300 $315,000.00 N
600104564 STIDHAM .00 .00 .00 .000 .250 .300 $470,450.00 N
600104567 VERESS .00 .00 .00 .000 .250 .300 $355,000.00 N
600104570 PORTOCARRERO .00 .00 .00 .000 .250 .300 $440,000.00 N
600104572 CHOU .00 .00 .00 .000 .250 .300 $295,000.00 N
600104573 STEFFLER .00 .00 .00 .000 .250 .300 $305,000.00 N
600104574 REDMAYNE .00 .00 .00 .000 .250 .300 $272,000.00 N
600104576 REA .00 .00 .00 .000 .250 .300 $420,000.00 N
600104577 FONG .00 .00 .00 .000 .250 .300 $580,000.00 N
600104578 ROTHMAN .00 .00 .00 .000 .250 .300 $325,000.00 N
600104579 CORWIN .00 .00 .00 .000 .250 .300 $455,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 26
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104580 CORRAL 520 N GERTRUDA AVE REDONDO BEACH CA 90277 $295,134.84
600104583 MCPHERSON 4644 FORR ROYAL PL SAN JOSE CA 95136 $290,978.57
600104585 ROSEN 416 MOUNTAIN LAUREL C MOUNTAIN VIEW CA 94043 $257,725.19
600104586 ROWETT 828 KIM ST CUPERTINO CA 95014 $349,491.75
600104587 ESTOESTA 1750 FANWOOD CT SAN JOSE CA 95133 $299,376.55
600104588 CHEN 1450 RECADO RD LA HABRA HEIGHT CA 90631 $299,360.67
600104589 MARTINEZ 169 BAY SHORE AVE LONG BEACH CA 90803 $324,448.24
600104590 LEGER 6497 TIMBER SPRINGS DR SANTA ROSA CA 95409 $246,592.88
600105192 Garth John L 0123 Penion Lane Eagle CO 81631 $242,813.98
600105193 Destefano Jr Edward J 30 Heritage Lane Saugus MA 01906 $278,893.15
600105198 Giannopoulos Eleftheria 34-19 146th Street Flushing NY 11354 $227,754.17
600105200 Aguayo Franca 1664 85th Street Brooklyn NY 11214 $253,771.24
600105204 Virtue Dwight 41852 Tucson Court Palmdale CA 93551 $247,340.18
600105206 Graul John E. 2969 Kalakaua Avenue #403 Honolulu HI 96815 $391,527.12
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104580 CORRAL 7.625 .250 7.375 .0500 7.325 09/01/2027
600104583 MCPHERSON 7.750 .250 7.500 .0500 7.450 10/01/2027
600104585 ROSEN 7.625 .250 7.375 .0500 7.325 11/01/2027
600104586 ROWETT 7.625 .250 7.375 .0500 7.325 11/01/2027
600104587 ESTOESTA 7.875 .250 7.625 .0500 7.575 10/01/2027
600104588 CHEN 7.750 .250 7.500 .0500 7.450 10/01/2027
600104589 MARTINEZ 7.375 .250 7.125 .0500 7.075 11/01/2027
600104590 LEGER 7.625 .250 7.375 .0500 7.325 08/01/2027
600105192 Garth John L 7.000 .250 6.750 .0500 6.700 09/01/2026
600105193 Destefano Jr Edward J 8.125 .250 7.875 .0500 7.825 10/01/2027
600105198 Giannopoulos Eleftheria 7.625 .250 7.375 .0500 7.325 03/01/2017
600105200 Aguayo Franca 8.500 .250 8.250 .0500 8.200 10/01/2017
600105204 Virtue Dwight 8.250 .250 8.000 .0500 7.950 07/01/2017
600105206 Graul John E. 8.250 .250 8.000 .0500 7.950 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>
600104580 CORRAL 9199964082 $2,095.07 01/01/1998 360
600104583 MCPHERSON 9199966459 $2,089.06 01/01/1998 360
600104585 ROSEN 9199967630 $1,826.82 01/01/1998 360
600104586 ROWETT 9199967895 $2,477.28 01/01/1998 360
600104587 ESTOESTA 9199974743 $2,175.21 01/01/1998 360
600104588 CHEN 9199975799 $2,149.24 01/01/1998 360
600104589 MARTINEZ 9199986572 $2,244.70 01/01/1998 360
600104590 LEGER 9199990749 $1,751.79 01/01/1998 360
600105192 Garth John L 192031 $1,637.97 01/01/1998 360
600105193 Destefano Jr Edward J 198879 $2,078.99 01/01/1998 360
600105198 Giannopoulos Eleftheria 229117 $1,886.75 01/01/1998 240
600105200 Aguayo Franca 232295 $2,212.95 01/01/1998 240
600105204 Virtue Dwight 242550 $2,128.89 1 01/01/1998 240
600105206 Graul John E. 248282 $3,369.92 01/01/1998 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>
600104580 CORRAL .00 .00 .00 .000 .250 .300 $440,000.00 N
600104583 MCPHERSON .00 .00 .00 .000 .250 .300 $364,500.00 N
600104585 ROSEN .00 .00 .00 .000 .250 .300 $325,000.00 N
600104586 ROWETT .00 .00 .00 .000 .250 .300 $460,000.00 N
600104587 ESTOESTA .00 .00 .00 .000 .250 .300 $389,000.00 N
600104588 CHEN .00 .00 .00 .000 .250 .300 $375,000.00 N
600104589 MARTINEZ .00 .00 .00 .000 .250 .300 $450,000.00 N
600104590 LEGER .00 .00 .00 .000 .250 .300 $330,000.00 N
600105192 Garth John L .00 .00 .00 .000 .250 .300 $325,000.00 N
600105193 Destefano Jr Edward J .00 .00 .00 .000 .250 .300 $385,000.00 N
600105198 Giannopoulos Eleftheria .00 .00 .00 .000 .250 .300 $290,000.00 N
600105200 Aguayo Franca .00 .00 .00 .000 .250 .300 $365,000.00 N
600105204 Virtue Dwight .00 .00 .00 .000 .250 .300 $263,000.00 N
600105206 Graul John E. .00 .00 .00 .000 .250 .300 $565,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 27
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105212 Wu Sing Chou 1147 Walnut & 665 Torro San Luis Obispo CA 93401 $262,603.19
600105214 Sharifi Jamshied 2101-2115 Broadway Unit # New York NY 10023 $259,547.95
600105215 Keurjian Michael 23320 Collins Street Woodland Hills CA 91367 $342,430.80
600105217 Vandenbergh Richard The Charter Beaver Crk 21 Avon CO 81620 $275,607.26
600105219 Van Gemert Gerald J. 435 Jasmine Street Laguna Beach CA 92651 $469,959.53
600105220 Slayyeh Daniel Has 11801 Highview Drive Santa Ana CA 92705 $465,983.02
600105221 Stanislawski Charles G. 1260 La Loma Road Pasadena CA 91105 $522,180.59
600105222 Cordova Jeffrey Q 3460 Happy Valley Avenue Santa Rosa CA 95404 $350,370.39
600105223 Stanton Patrick J. 5171 Selinda Way San Jose CA 95032 $299,327.90
600105224 Williamson Larry H. 83 Hollister Ranch Gaviota CA 93117 $494,321.41
600105226 Ceperley Tim G. 1705 Pacific Avenue Manhattan Beach CA 90266 $469,117.48
600105230 Navarro Richard A. 841 Leyland Drive Diamond Bar CA 91765 $239,475.59
600105231 Goldsmith Daniel R. 928 Redwood Avenue Sunnyvale CA 94086 $296,708.24
600105233 Perry Michael W. 1010 Rosalind Road San Marino CA 91108 $997,868.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105212 Wu Sing Chou 8.875 .250 8.625 .0500 8.575 09/01/2027
600105214 Sharifi Jamshied 8.750 .250 8.500 .0500 8.450 10/01/2027
600105215 Keurjian Michael 7.500 .250 7.250 .0500 7.200 10/01/2027
600105217 Vandenbergh Richard 8.750 .250 8.500 .0500 8.450 09/01/2027
600105219 Van Gemert Gerald J. 8.000 .250 7.750 .0500 7.700 10/01/2027
600105220 Slayyeh Daniel Has 8.000 .250 7.750 .0500 7.700 10/01/2027
600105221 Stanislawski Charles G. 8.000 .250 7.750 .0500 7.700 09/01/2027
600105222 Cordova Jeffrey Q 7.375 .250 7.125 .0500 7.075 09/01/2027
600105223 Stanton Patrick J. 7.500 .250 7.250 .0500 7.200 10/01/2027
600105224 Williamson Larry H. 8.125 .250 7.875 .0500 7.825 10/01/2027
600105226 Ceperley Tim G. 8.375 .250 8.125 .0500 8.075 10/01/2027
600105230 Navarro Richard A. 7.625 .250 7.375 .0500 7.325 10/01/2027
600105231 Goldsmith Daniel R. 7.500 .250 7.250 .0500 7.200 09/01/2027
600105233 Perry Michael W. 7.750 .250 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>
600105212 Wu Sing Chou 262331 $2,094.14 01/01/1998 360
600105214 Sharifi Jamshied 263080 $2,045.42 01/01/1998 360
600105215 Keurjian Michael 263461 $2,399.70 01/01/1998 360
600105217 Vandenbergh Richard 263974 $2,173.26 01/01/1998 360
600105219 Van Gemert Gerald J. 264337 $3,463.37 01/01/1998 360
600105220 Slayyeh Daniel Has 265017 $3,430.35 01/01/1998 360
600105221 Stanislawski Charles G. 265627 $3,841.99 01/01/1998 360
600105222 Cordova Jeffrey Q 265737 $2,427.38 01/01/1998 360
600105223 Stanton Patrick J. 266053 $2,097.64 01/01/1998 360
600105224 Williamson Larry H. 266302 $3,677.59 01/01/1998 360
600105226 Ceperley Tim G. 266441 $3,572.34 01/01/1998 360
600105230 Navarro Richard A. 267997 $1,698.70 01/01/1998 360
600105231 Goldsmith Daniel R. 268422 $2,080.86 01/01/1998 360
600105233 Perry Michael W. 269385 $7,164.12 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600105212 Wu Sing Chou .00 .00 .00 .000 .250 .300 $329,080.00 N
600105214 Sharifi Jamshied .00 .00 .00 .000 .250 .300 $411,500.00 N
600105215 Keurjian Michael .00 .00 .00 .000 .250 .300 $429,000.00 N
600105217 Vandenbergh Richard .00 .00 .00 .000 .250 .300 $425,000.00 N
600105219 Van Gemert Gerald J. .00 .00 .00 .000 .250 .300 $590,000.00 N
600105220 Slayyeh Daniel Has .00 .00 .00 .000 .250 .300 $700,000.00 N
600105221 Stanislawski Charles G. .00 .00 .00 .000 .250 .300 $700,000.00 N
600105222 Cordova Jeffrey Q .00 .00 .00 .000 .250 .300 $460,000.00 N
600105223 Stanton Patrick J. .00 .00 .00 .000 .250 .300 $489,000.00 N
600105224 Williamson Larry H. .00 .00 .00 .000 .250 .300 $762,000.00 N
600105226 Ceperley Tim G. .00 .00 .00 .000 .250 .300 $620,000.00 N
600105230 Navarro Richard A. .00 .00 .00 .000 .250 .300 $300,000.00 N
600105231 Goldsmith Daniel R. .00 .00 .00 .000 .250 .300 $372,000.00 N
600105233 Perry Michael W. .00 .00 .00 .000 .250 .300 $1,750,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 28
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105238 Gilehrist Christine 1670 Landquist Drive Encinitas CA 92024 $274,395.97
600105240 Standart Jeffrey T 1 Dapplegray Palos Verdes Pe CA 90274 $423,497.54
600105242 Faucher Clifford F 2602 Belvidere Ave S W Seattle WA 98126 $254,629.69
600105243 Glick Joseph 1058 58th Street Brooklyn NY 11219 $291,653.96
600105245 Indreboe, Jr. William L. 30 Fieldbrook Place Moraga CA 94556 $398,731.16
600105246 Campbell John G 1596 Roosevelt Altadena CA 91001 $259,326.59
600105247 Tasso Michael 89 Mills Road North Salem NY 10560 $336,839.92
600105248 Rios, Jr. Catarino 38097 Ballard Drive Fremont CA 94536 $279,623.00
600105249 Doss Robert H. 8148 Centerstone Drive Huntington Beac CA 92646 $275,271.17
600105250 Kunkel Lori A. 7060 Exeter Drive Piedmont CA 94611 $253,031.83
600105251 Shumway James M. 445 West Simmons Road Turlock CA 95380 $324,562.42
600105253 Glaze Raymond 2302 Valcourt Lane Glendora CA 91741 $336,997.49
600105255 Iskenderian Arnawood 90 Shaw Street Lahaina HI 96761 $299,585.73
600105256 Auer Curtis 26402 Modena Laguna Hills CA 92653 $268,709.24
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105238 Gilehrist Christine 8.500 .250 8.250 .0500 8.200 10/01/2027
600105240 Standart Jeffrey T 8.625 .250 8.375 .0500 8.325 11/01/2027
600105242 Faucher Clifford F 7.625 .250 7.375 .0500 7.325 11/01/2027
600105243 Glick Joseph 8.625 .250 8.375 .0500 8.325 11/01/2027
600105245 Indreboe, Jr. William L. 7.625 .250 7.375 .0500 7.325 09/01/2027
600105246 Campbell John G 7.500 .250 7.250 .0500 7.200 10/01/2027
600105247 Tasso Michael 8.500 .250 8.250 .0500 8.200 11/01/2027
600105248 Rios, Jr. Catarino 8.000 .250 7.750 .0500 7.700 11/01/2027
600105249 Doss Robert H. 8.125 .250 7.875 .0500 7.825 11/01/2027
600105250 Kunkel Lori A. 7.500 .250 7.250 .0500 7.200 10/01/2027
600105251 Shumway James M. 8.000 .250 7.750 .0500 7.700 11/01/2027
600105253 Glaze Raymond 7.500 .250 7.250 .0500 7.200 11/01/2027
600105255 Iskenderian Arnawood 7.875 .250 7.625 .0500 7.575 11/01/2027
600105256 Auer Curtis 7.625 .250 7.375 .0500 7.325 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>
600105238 Gilehrist Christine 270314 $2,114.51 01/01/1998 360
600105240 Standart Jeffrey T 270599 $3,297.83 01/01/1998 360
600105242 Faucher Clifford F 270680 $1,804.88 01/01/1998 360
600105243 Glick Joseph 270717 $2,271.15 01/01/1998 360
600105245 Indreboe, Jr. William L. 270852 $2,830.47 01/01/1998 360
600105246 Campbell John G 271308 $1,817.96 01/01/1998 360
600105247 Tasso Michael 271550 $2,593.17 12 01/01/1998 360
600105248 Rios, Jr. Catarino 271578 $2,054.54 01/01/1998 360
600105249 Doss Robert H. 271735 $2,046.57 15 01/01/1998 360
600105250 Kunkel Lori A. 271846 $1,773.21 01/01/1998 360
600105251 Shumway James M. 272320 $2,384.73 01/01/1998 360
600105253 Glaze Raymond 272635 $2,359.85 01/01/1998 360
600105255 Iskenderian Arnawood 272756 $2,175.21 01/01/1998 360
600105256 Auer Curtis 273186 $1,904.67 15 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600105238 Gilehrist Christine .00 .00 .00 .000 .250 .300 $347,000.00 N
600105240 Standart Jeffrey T .00 .00 .00 .000 .250 .300 $530,000.00 N
600105242 Faucher Clifford F .00 .00 .00 .000 .250 .300 $340,000.00 N
600105243 Glick Joseph .00 .00 .00 .000 .250 .300 $365,000.00 N
600105245 Indreboe, Jr. William L. .00 .00 .00 .000 .250 .300 $514,900.00 N
600105246 Campbell John G .00 .00 .00 .000 .250 .300 $325,000.00 N
600105247 Tasso Michael .00 .00 .00 .000 .250 .300 $355,000.00 N
600105248 Rios, Jr. Catarino .00 .00 .00 .000 .250 .300 $350,000.00 N
600105249 Doss Robert H. .00 .00 .00 .000 .250 .300 $306,859.00 N
600105250 Kunkel Lori A. .00 .00 .00 .000 .250 .300 $317,000.00 N
600105251 Shumway James M. .00 .00 .00 .000 .250 .300 $450,000.00 N
600105253 Glaze Raymond .00 .00 .00 .000 .250 .300 $451,000.00 N
600105255 Iskenderian Arnawood .00 .00 .00 .000 .250 .300 $388,000.00 N
600105256 Auer Curtis .00 .00 .00 .000 .250 .300 $299,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 29
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105257 Greening Patrick 201 Uranus Avenue Piedmont CA 94611 $380,073.75
600105258 Vuu Hai 8725 East Garden View Dri Anaheim CA 92808 $249,439.89
600105259 Davis George 2405 3rd St Santa Monica CA 90405 $530,521.04
600105260 Finnerty Martin 576 Appaloosa Drive Walnut Creek CA 94596 $266,281.78
600105262 Wolfson Ronald I 5238 Glasgow Way Los Angeles CA 90045 $275,396.87
600105266 Khatri Dilip 4104 Park Vista Drive Pasadena CA 91107 $254,442.80
600105267 Mattia Jason 544 Burns Avenue Aptos CA 95003 $374,319.65
600105268 Cheng Grace M. 2526 South Westgate Avenu Los Angeles CA 90064 $239,651.50
600105273 Khinich Valery 7939 Cowper Avenue Canoga Park CA 91304 $276,398.05
600105277 Keene Paul P. 7258 Fordham Place Goleta CA 93117 $243,903.07
600105278 Whitehouse Raymond Cl 240-2 Pualei Drive Lahaina HI 96761 $439,451.11
600105279 Robledo Jose L. 620 North Tamarisk Street Chandler AZ 85224 $337,033.94
600105280 Klein, I I Robert 147 Goya Road Portola Valley CA 94028 $1,427,870.83
600105286 Moen Daniel S. 3135 Sweetbrier Circle Lafayette CA 94549 $268,257.45
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105257 Greening Patrick 7.500 .250 7.250 .0500 7.200 10/01/2027
600105258 Vuu Hai 7.500 .250 7.250 .0500 7.200 10/01/2027
600105259 Davis George 7.875 .250 7.625 .0500 7.575 09/01/2027
600105260 Finnerty Martin 7.875 .250 7.625 .0500 7.575 11/01/2027
600105262 Wolfson Ronald I 7.625 .250 7.375 .0500 7.325 10/01/2027
600105266 Khatri Dilip 7.625 .250 7.375 .0500 7.325 10/01/2027
600105267 Mattia Jason 7.875 .250 7.625 .0500 7.575 11/01/2027
600105268 Cheng Grace M. 7.625 .250 7.375 .0500 7.325 11/01/2027
600105273 Khinich Valery 7.625 .250 7.375 .0500 7.325 11/01/2027
600105277 Keene Paul P. 8.500 .250 8.250 .0500 8.200 12/01/2027
600105278 Whitehouse Raymond Cl 8.375 .250 8.125 .0500 8.075 11/01/2027
600105279 Robledo Jose L. 7.875 .250 7.625 .0500 7.575 11/01/2027
600105280 Klein, I I Robert 7.500 .250 7.250 .0500 7.200 11/01/2027
600105286 Moen Daniel S. 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>
600105257 Greening Patrick 273243 $2,664.01 01/01/1998 360
600105258 Vuu Hai 273262 $1,748.04 01/01/1998 360
600105259 Davis George 273292 $3,857.37 01/01/1998 360
600105260 Finnerty Martin 273376 $1,933.40 01/01/1998 360
600105262 Wolfson Ronald I 273571 $1,953.52 01/01/1998 360
600105266 Khatri Dilip 274107 $1,804.87 01/01/1998 360
600105267 Mattia Jason 274180 $2,719.01 01/01/1998 360
600105268 Cheng Grace M. 274182 $1,698.70 01/01/1998 360
600105273 Khinich Valery 274536 $1,959.17 01/01/1998 360
600105277 Keene Paul P. 274831 $1,877.69 01/01/1998 360
600105278 Whitehouse Raymond Cl 275478 $3,344.32 01/01/1998 360
600105279 Robledo Jose L. 275542 $2,447.11 01/01/1998 360
600105280 Klein, I I Robert 275677 $9,998.77 01/01/1998 360
600105286 Moen Daniel S. 276154 $1,857.05 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600105257 Greening Patrick .00 .00 .00 .000 .250 .300 $500,000.00 N
600105258 Vuu Hai .00 .00 .00 .000 .250 .300 $341,990.00 N
600105259 Davis George .00 .00 .00 .000 .250 .300 $665,000.00 N
600105260 Finnerty Martin .00 .00 .00 .000 .250 .300 $360,000.00 N
600105262 Wolfson Ronald I .00 .00 .00 .000 .250 .300 $345,000.00 N
600105266 Khatri Dilip .00 .00 .00 .000 .250 .300 $362,000.00 N
600105267 Mattia Jason .00 .00 .00 .000 .250 .300 $560,000.00 N
600105268 Cheng Grace M. .00 .00 .00 .000 .250 .300 $300,000.00 N
600105273 Khinich Valery .00 .00 .00 .000 .250 .300 $346,000.00 N
600105277 Keene Paul P. .00 .00 .00 .000 .250 .300 $310,000.00 N
600105278 Whitehouse Raymond Cl .00 .00 .00 .000 .250 .300 $550,000.00 N
600105279 Robledo Jose L. .00 .00 .00 .000 .250 .300 $485,000.00 N
600105280 Klein, I I Robert .00 .00 .00 .000 .250 .300 $2,275,000.00 N
600105286 Moen Daniel S. .00 .00 .00 .000 .250 .300 $356,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 30
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105287 Reed Kathleen 737-737 1/2 Avenue C Redondo Beach CA 90277 $269,617.65
600105288 Maltese Phillippa 86 Marinero Circle Tiburon CA 94920 $279,623.00
600105289 Gatto Joseph M. 103 Dunsmuir Court Aptos CA 95003 $287,401.49
600105295 Pachman, M.D., Joseph 16 High Noon Road Weston CT 06883 $382,650.54
600105296 Crisafi Anthony W. 1664 Guizot Street San Diego CA 92107 $395,466.81
600105297 Gallanis Andreas 3039 Amigos Drive Burbank CA 91504 $345,466.38
600105299 Lloyd John T. 3261 Broadmoor Lane Fairfield CA 94533 $278,558.82
600105303 Trinity James 1629 Grandview Avenue Glendale CA 91201 $359,562.28
600105304 Nowicki Elzbieta 213 Euclid Street Santa Monica CA 90402 $429,449.71
600105305 Szemeti Zoltan 5755 Daphne drive Livermore CA 94550 $286,540.04
600105311 Paura Catherine 227 Copa De Oro Los Angeles CA 90077 $998,547.86
600105316 Sturtevant Dean L. 1703 Laurel Glen Road Soquel CA 95073 $347,481.85
600105317 Fegan Jeffrey E 505 W. Princeton Court Glenwood Spring CO 81601 $285,225.10
600105318 Gravier Robert A. 4909 Bywood West Edina MN 55436 $1,298,459.44
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105287 Reed Kathleen 7.750 .250 7.500 .0500 7.450 12/01/2027
600105288 Maltese Phillippa 8.000 .250 7.750 .0500 7.700 11/01/2027
600105289 Gatto Joseph M. 7.875 .250 7.625 .0500 7.575 10/01/2027
600105295 Pachman, M.D., Joseph 8.500 .250 8.250 .0500 8.200 11/01/2027
600105296 Crisafi Anthony W. 8.000 .250 7.750 .0500 7.700 11/01/2027
600105297 Gallanis Andreas 7.500 .250 7.250 .0500 7.200 11/01/2027
600105299 Lloyd John T. 7.250 .250 7.000 .0500 6.950 11/01/2027
600105303 Trinity James 8.500 .250 8.250 .0500 8.200 11/01/2027
600105304 Nowicki Elzbieta 8.250 .250 8.000 .0500 7.950 11/01/2027
600105305 Szemeti Zoltan 8.625 .250 8.375 .0500 8.325 12/01/2027
600105311 Paura Catherine 7.625 .250 7.375 .0500 7.325 11/01/2027
600105316 Sturtevant Dean L. 7.500 .250 7.250 .0500 7.200 11/01/2027
600105317 Fegan Jeffrey E 8.125 .250 7.875 .0500 7.825 11/01/2027
600105318 Gravier Robert A. 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>
600105287 Reed Kathleen 276221 $1,934.31 01/01/1998 360
600105288 Maltese Phillippa 276239 $2,054.54 01/01/1998 360
600105289 Gatto Joseph M. 276277 $2,088.20 01/01/1998 360
600105295 Pachman, M.D., Joseph 277003 $2,973.77 12 01/01/1998 360
600105296 Crisafi Anthony W. 277021 $2,905.71 01/01/1998 360
600105297 Gallanis Andreas 277106 $2,447.25 01/01/1998 360
600105299 Lloyd John T. 277226 $1,910.09 01/01/1998 360
600105303 Trinity James 277682 $2,768.09 01/01/1998 360
600105304 Nowicki Elzbieta 277690 $3,230.45 01/01/1998 360
600105305 Szemeti Zoltan 277750 $2,231.32 01/01/1998 360
600105311 Paura Catherine 278159 $7,077.94 01/01/1998 360
600105316 Sturtevant Dean L. 278556 $2,433.27 01/01/1998 360
600105317 Fegan Jeffrey E 278570 $2,120.57 01/01/1998 360
600105318 Gravier Robert A. 278603 ********* 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600105287 Reed Kathleen .00 .00 .00 .000 .250 .300 $370,000.00 N
600105288 Maltese Phillippa .00 .00 .00 .000 .250 .300 $350,000.00 N
600105289 Gatto Joseph M. .00 .00 .00 .000 .250 .300 $361,000.00 N
600105295 Pachman, M.D., Joseph .00 .00 .00 .000 .250 .300 $455,000.00 N
600105296 Crisafi Anthony W. .00 .00 .00 .000 .250 .300 $540,000.00 N
600105297 Gallanis Andreas .00 .00 .00 .000 .250 .300 $460,000.00 N
600105299 Lloyd John T. .00 .00 .00 .000 .250 .300 $360,000.00 N
600105303 Trinity James .00 .00 .00 .000 .250 .300 $465,000.00 N
600105304 Nowicki Elzbieta .00 .00 .00 .000 .250 .300 $775,000.00 N
600105305 Szemeti Zoltan .00 .00 .00 .000 .250 .300 $358,600.00 N
600105311 Paura Catherine .00 .00 .00 .000 .250 .300 $2,700,000.00 N
600105316 Sturtevant Dean L. .00 .00 .00 .000 .250 .300 $435,000.00 N
600105317 Fegan Jeffrey E .00 .00 .00 .000 .250 .300 $357,000.00 N
600105318 Gravier Robert A. .00 .00 .00 .000 .250 .300 $2,000,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 31
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105319 Spellacy Joseph 1540 Little Morro Creek R Morro Bay CA 93442 $367,776.68
600105321 Rodriguez Jaime 3567 Rollingside Drive San Jose CA 95148 $254,647.87
600105322 Dror Smadar Jac 859 Westbourne West Hollywood CA 90069 $332,029.14
600105323 Levy Avi 4600 Poe Avenue Woodland Hills CA 91364 $339,518.51
600105324 Pascal Andre 1519 Winterwarm Drive Fallbrook CA 92028 $255,655.31
600105325 Howell Timothy W. 2293 Stratford Drive San Jose CA 95124 $279,593.41
600105326 Burns, I I I John J. 842-844 North Genesee Ave Los Angeles CA 90046 $311,557.32
600105327 Titolo Anthony J. 20111 Glacier Circle Huntington Beac CA 92646 $269,617.65
600105328 Novak Howard 4871 Aliano Dr Agoura Hills CA 91301 $281,220.84
600105329 Czerwonka Karol 2045 West Morse Chicago IL 60645 $399,525.98
600105330 Suri Ravin 102 Alley Way Mountain View CA 94040 $284,862.02
600105333 Mete Frank J. 124 O' Connell Drive Berlin CT 06037 $312,399.71
600105334 Garg Nitin 508 Isaac Court San Jose CA 95136 $288,780.05
600105335 Keathley Hadley D. 153 Briar Place Danville CA 94526 $308,334.28
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105319 Spellacy Joseph 7.500 .250 7.250 .0500 7.200 11/01/2027
600105321 Rodriguez Jaime 7.875 .250 7.625 .0500 7.575 11/01/2027
600105322 Dror Smadar Jac 7.750 .250 7.500 .0500 7.450 11/01/2027
600105323 Levy Avi 7.750 .250 7.500 .0500 7.450 12/01/2027
600105324 Pascal Andre 8.000 .250 7.750 .0500 7.700 11/01/2027
600105325 Howell Timothy W. 7.625 .250 7.375 .0500 7.325 11/01/2027
600105326 Burns, I I I John J. 7.875 .250 7.625 .0500 7.575 11/01/2027
600105327 Titolo Anthony J. 7.750 .250 7.500 .0500 7.450 11/01/2027
600105328 Novak Howard 8.000 .250 7.750 .0500 7.700 12/01/2027
600105329 Czerwonka Karol 8.625 .250 8.375 .0500 8.325 12/01/2027
600105330 Suri Ravin 8.625 .250 8.375 .0500 8.325 12/01/2027
600105333 Mete Frank J. 8.250 .250 8.000 .0500 7.950 11/01/2027
600105334 Garg Nitin 7.625 .250 7.375 .0500 7.325 12/01/2027
600105335 Keathley Hadley D. 8.000 .250 7.750 .0500 7.700 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>
600105319 Spellacy Joseph 278783 $2,578.35 01/01/1998 360
600105321 Rodriguez Jaime 279073 $1,848.93 01/01/1998 360
600105322 Dror Smadar Jac 279270 $2,382.07 01/01/1998 360
600105323 Levy Avi 279278 $2,435.80 01/01/1998 360
600105324 Pascal Andre 279377 $1,878.44 01/01/1998 360
600105325 Howell Timothy W. 279602 $1,981.82 01/01/1998 360
600105326 Burns, I I I John J. 279657 $2,262.22 01/01/1998 360
600105327 Titolo Anthony J. 279962 $1,934.31 01/01/1998 360
600105328 Novak Howard 279983 $2,066.28 01/01/1998 360
600105329 Czerwonka Karol 280212 $3,111.16 01/01/1998 360
600105330 Suri Ravin 280365 $2,218.26 7 01/01/1998 360
600105333 Mete Frank J. 280718 $2,349.96 01/01/1998 360
600105334 Garg Nitin 280743 $2,046.94 01/01/1998 360
600105335 Keathley Hadley D. 280948 $2,265.50 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600105319 Spellacy Joseph .00 .00 .00 .000 .250 .300 $605,000.00 N
600105321 Rodriguez Jaime .00 .00 .00 .000 .250 .300 $335,000.00 N
600105322 Dror Smadar Jac .00 .00 .00 .000 .250 .300 $475,000.00 N
600105323 Levy Avi .00 .00 .00 .000 .250 .300 $425,000.00 N
600105324 Pascal Andre .00 .00 .00 .000 .250 .300 $320,000.00 N
600105325 Howell Timothy W. .00 .00 .00 .000 .250 .300 $350,000.00 N
600105326 Burns, I I I John J. .00 .00 .00 .000 .250 .300 $390,000.00 N
600105327 Titolo Anthony J. .00 .00 .00 .000 .250 .300 $338,000.00 N
600105328 Novak Howard .00 .00 .00 .000 .250 .300 $352,000.00 N
600105329 Czerwonka Karol .00 .00 .00 .000 .250 .300 $501,000.00 N
600105330 Suri Ravin .00 .00 .00 .000 .250 .300 $316,900.00 N
600105333 Mete Frank J. .00 .00 .00 .000 .250 .300 $391,000.00 N
600105334 Garg Nitin .00 .00 .00 .000 .250 .300 $361,500.00 N
600105335 Keathley Hadley D. .00 .00 .00 .000 .250 .300 $475,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 32
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105337 Muskat Michael 1079 Springfield Drive Walnut Creek CA 94598 $292,874.72
600105338 Siflinger Alan 1168 Rambling Road Simi Valley CA 93065 $236,664.37
600105339 Yoo Junsuk 19757 Falcon Crest Way No Los Angeles CA 91326 $371,486.30
600105340 Carson Gary F. 6 Tracy Court Moraga CA 94556 $423,384.29
600105343 Connor J. Eugene 6790 East Powers Avenue Greenwood Villa CO 80111 $298,576.58
600105346 Zorger John R. 1290 Hi Mountain Road Arroyo Grande CA 93420 $389,404.67
600105347 Dutton- Sells Nancy 5101 Del Moreno Drive Woodland Hills CA 91364 $335,487.09
600105349 Chun Yungja 10 Haverhill Road Laguna Niguel CA 92677 $260,639.58
600105354 Wilkinson Russell L. 740 N W Hobbs Road Cornelius OR 97113 $297,055.29
600105357 Sonn Gregory M 4444 First Street Pleasanton CA 94566 $295,486.77
600105360 Calvillo, Jr. Marcelino 3005 Butte Stree Santa Clara CA 95051 $320,068.46
600105361 Waag Kurt 2 Cross Bridge Place Danville CA 94526 $344,300.89
600105367 RIVKIN 900 LAKEMONT DRIVE NASHVILLE TN 37027 $283,517.75
600105375 KEEL 5026 THE RIVERIA TAMPA FL 33609 $358,824.96
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105337 Muskat Michael 8.250 .250 8.000 .0500 7.950 12/01/2027
600105338 Siflinger Alan 7.750 .250 7.500 .0500 7.450 11/01/2027
600105339 Yoo Junsuk 7.875 .250 7.625 .0500 7.575 11/01/2027
600105340 Carson Gary F. 7.625 .250 7.375 .0500 7.325 11/01/2027
600105343 Connor J. Eugene 7.750 .250 7.500 .0500 7.450 12/01/2027
600105346 Zorger John R. 7.375 .250 7.125 .0500 7.075 11/01/2027
600105347 Dutton- Sells Nancy 7.375 .250 7.125 .0500 7.075 11/01/2027
600105349 Chun Yungja 7.875 .250 7.625 .0500 7.575 11/01/2027
600105354 Wilkinson Russell L. 8.500 .250 8.250 .0500 8.200 10/01/2027
600105357 Sonn Gregory M 7.875 .250 7.625 .0500 7.575 11/01/2027
600105360 Calvillo, Jr. Marcelino 8.000 .250 7.750 .0500 7.700 11/01/2027
600105361 Waag Kurt 8.000 .250 7.750 .0500 7.700 10/01/2027
600105367 RIVKIN 8.000 .250 7.750 .0500 7.700 11/01/2027
600105375 KEEL 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>
600105337 Muskat Michael 281017 $2,203.09 7 01/01/1998 360
600105338 Siflinger Alan 281056 $1,697.90 01/01/1998 360
600105339 Yoo Junsuk 281195 $2,697.26 01/01/1998 360
600105340 Carson Gary F. 281203 $3,001.05 01/01/1998 360
600105343 Connor J. Eugene 281373 $2,142.07 01/01/1998 360
600105346 Zorger John R. 281686 $2,693.63 01/01/1998 360
600105347 Dutton- Sells Nancy 281731 $2,320.67 01/01/1998 360
600105349 Chun Yungja 282149 $1,892.43 01/01/1998 360
600105354 Wilkinson Russell L. 282961 $2,288.29 01/01/1998 360
600105357 Sonn Gregory M 283143 $2,146.21 01/01/1998 360
600105360 Calvillo, Jr. Marcelino 283963 $2,351.72 01/01/1998 360
600105361 Waag Kurt 283967 $2,531.49 01/01/1998 360
600105367 RIVKIN 0934163 $2,083.16 01/01/1998 360
600105375 KEEL 0942804 $2,732.46 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600105337 Muskat Michael .00 .00 .00 .000 .250 .300 $345,000.00 N
600105338 Siflinger Alan .00 .00 .00 .000 .250 .300 $300,000.00 N
600105339 Yoo Junsuk .00 .00 .00 .000 .250 .300 $465,020.00 N
600105340 Carson Gary F. .00 .00 .00 .000 .250 .300 $530,000.00 N
600105343 Connor J. Eugene .00 .00 .00 .000 .250 .300 $400,000.00 N
600105346 Zorger John R. .00 .00 .00 .000 .250 .300 $490,000.00 N
600105347 Dutton- Sells Nancy .00 .00 .00 .000 .250 .300 $420,000.00 N
600105349 Chun Yungja .00 .00 .00 .000 .250 .300 $341,000.00 N
600105354 Wilkinson Russell L. .00 .00 .00 .000 .250 .300 $372,000.00 N
600105357 Sonn Gregory M .00 .00 .00 .000 .250 .300 $370,000.00 N
600105360 Calvillo, Jr. Marcelino .00 .00 .00 .000 .250 .300 $445,000.00 N
600105361 Waag Kurt .00 .00 .00 .000 .250 .300 $431,287.00 N
600105367 RIVKIN .00 .00 .00 .000 .250 .300 $354,900.00 N
600105375 KEEL .00 .00 .00 .000 .250 .300 $740,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 33
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105452 JOHNSON 5791 HIGHLAND AVENUE YORBA LINDA CA 92886 $385,156.68
600105454 TUEROS 24801 CALLE CEDRO CALABASAS CA 91302 $311,620.64
600105483 SORENSEN 281 SOUTH MARYFIELD SALT LAKE CITY UT 84108 $399,486.09
600106288 BO 616 BOLSANA DR LAGUNA BEACH CA 92651 $533,243.79
600106293 BURSON 6 CALLE MARTA RANCHO SANTA MA CA 92688 $239,549.36
600106294 SIMISTER 1285 EAST MANFIELD WAY DRAPER UT 84020 $239,676.85
600106295 SMITH 1946 WEST 1600 NORTH H PROVO UT 84604 $299,502.62
600106301 JAFRI ASKARI 1 GOODWIVES ROAD DARIEN CT 06820 $426,924.39
600106302 BLUM ERIC 8432 PROSPECT AVE PHILADELPHI PA 19118 $365,681.42
600106303 MOORE FREIDA 29 PIERCE BOULEVARD WINDSOR CT 06095 $298,895.37
600106304 BELL,RAYMOND T 2206 HUNTINGTON LANE REDONDO BEACH CA 90278 $267,501.11
600107358 KRIPALANI SHAWNA 27 ACKERMAN DRIVE MAHWAH NJ 07430 $395,150.74
600107361 RAMSAY CHRISTOPHER LEE 10 TROTTER DRIVE NORTH SALEM NY 10560 $347,294.94
600107362 ELLSWORTH KATHRYN C 10 RUBY LANE BREWSTER NY 10509 $362,570.74
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105452 JOHNSON 8.250 .250 8.000 .0500 7.950 10/01/2027
600105454 TUEROS 8.500 .250 8.250 .0500 8.200 11/01/2027
600105483 SORENSEN 8.250 .250 8.000 .0500 7.950 11/01/2027
600106288 BO 7.750 .250 7.500 .0500 7.450 11/01/2027
600106293 BURSON 8.375 .250 8.125 .0500 8.075 10/01/2027
600106294 SIMISTER 8.000 .250 7.750 .0500 7.700 11/01/2027
600106295 SMITH 8.250 .250 8.000 .0500 7.950 11/01/2027
600106301 JAFRI ASKARI 8.000 .250 7.750 .0500 7.700 11/01/2027
600106302 BLUM ERIC 8.250 .250 8.000 .0500 7.950 11/01/2027
600106303 MOORE FREIDA 8.625 .250 8.375 .0500 8.325 11/01/2027
600106304 BELL,RAYMOND T 7.500 .250 7.250 .0500 7.200 11/01/2027
600107358 KRIPALANI SHAWNA 8.375 .250 8.125 .0400 8.085 08/01/2027
600107361 RAMSAY CHRISTOPHER LEE 7.625 .250 7.375 .0400 7.335 11/01/2027
600107362 ELLSWORTH KATHRYN C 7.625 .250 7.375 .0400 7.335 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>
600105452 JOHNSON 6217012 $2,899.14 01/01/1998 360
600105454 TUEROS 6217394 $2,399.01 01/01/1998 360
600105483 SORENSEN 7153988 $3,005.07 01/01/1998 360
600106288 BO 6313507 $3,825.64 01/01/1998 360
600106293 BURSON 7138488 $1,824.17 12 01/01/1998 360
600106294 SIMISTER 7142988 $1,761.04 01/01/1998 360
600106295 SMITH 7152388 $2,253.80 01/01/1998 360
600106301 JAFRI ASKARI 450909205 $3,136.85 01/01/1998 360
600106302 BLUM ERIC 450918743 $2,750.77 01/01/1998 360
600106303 MOORE FREIDA 450919600 $2,327.54 2 01/01/1998 360
600106304 BELL,RAYMOND T 9199963605 $1,873.20 2 01/01/1998 360
600107358 KRIPALANI SHAWNA 1500255014 $3,012.93 01/01/1998 360
600107361 RAMSAY CHRISTOPHER LEE 1106079165 $2,461.71 01/01/1998 360
600107362 ELLSWORTH KATHRYN C 1106089996 $2,576.37 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600105452 JOHNSON .00 .00 .00 .000 .250 .300 $550,000.00 N
600105454 TUEROS .00 .00 .00 .000 .250 .300 $390,000.00 N
600105483 SORENSEN .00 .00 .00 .000 .250 .300 $545,000.00 N
600106288 BO .00 .00 .00 .000 .250 .300 $825,000.00 N
600106293 BURSON .00 .00 .00 .000 .250 .300 $267,869.00 N
600106294 SIMISTER .00 .00 .00 .000 .250 .300 $335,000.00 N
600106295 SMITH .00 .00 .00 .000 .250 .300 $405,000.00 N
600106301 JAFRI ASKARI .00 .00 .00 .000 .250 .300 $570,000.00 N
600106302 BLUM ERIC .00 .00 .00 .000 .250 .300 $800,000.00 N
600106303 MOORE FREIDA .00 .00 .00 .000 .250 .300 $315,000.00 N
600106304 BELL,RAYMOND T .00 .00 .00 .000 .250 .300 $282,000.00 N
600107358 KRIPALANI SHAWNA .00 .00 .00 .000 .250 .290 $527,901.00 N
600107361 RAMSAY CHRISTOPHER LEE .00 .00 .00 .000 .250 .290 $435,000.00 N
600107362 ELLSWORTH KATHRYN C .00 .00 .00 .000 .250 .290 $455,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 34
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107363 BOWMAN DOUGLAS 408 PACIFIC OAKS ROA GOLETA CA 93117 $298,793.18
600107365 LECOCHE JACQUELINE 14 PRESCOTT STREET GARDEN CITY NY 11530 $244,653.02
600107368 NELSON ROBERT N 12 FAR HORIZON DRIV WALLINGFORD CT 06492 $246,632.23
600107369 KRISHOCK DAVID 396 NORTH STREET GREENWICH CT 06830 $998,511.06
600107370 KATZEFF DANIEL 44 RUMSON DRIVE LIVINGSTON NJ 07039 $273,611.97
600107371 MAROM JONATHAN T 54 VALLEYVIEW DRIVE STAMFORD CT 06903 $339,480.97
600107375 DOWD JOHN PETER 53 CENTER ST WESTPORT CT 06880 $379,448.18
600107376 SHORT DAVID C 9490 SW 148 STREET MIAMI FL 33176 $330,169.85
600107378 COLLINS OLIVER D 311 STERLING PARK TE FRANKLIN TN 37064 $260,501.74
600107379 GRAYBILL JEFFREY J 472 PACIFIC OAKS ROA GOLETA CA 93117 $249,618.37
600107380 WILLIAMS WILLIAM G 2805 EAST WILLOW CREE SANDY UT 84093 $311,546.93
600107381 VIETRI RICHARD 20 LONGVIEW DR EASTCHESTER NY 10709 $263,426.36
600107384 FULLER JOSEPH M 4 NORTH SHORE DR EDWARDSVILLE IL 62025 $247,438.41
600107385 SELLEW ANN 310 W 72ND ST 4C & 4 NEW YORK NY 10023 $267,470.48
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107363 BOWMAN DOUGLAS 7.375 .250 7.125 .0400 7.085 11/01/2027
600107365 LECOCHE JACQUELINE 7.750 .250 7.500 .0400 7.460 11/01/2027
600107368 NELSON ROBERT N 7.500 .250 7.250 .0400 7.210 11/01/2027
600107369 KRISHOCK DAVID 7.500 .250 7.250 .0400 7.210 11/01/2027
600107370 KATZEFF DANIEL 7.750 .250 7.500 .0400 7.460 11/01/2027
600107371 MAROM JONATHAN T 7.375 .250 7.125 .0400 7.085 11/01/2027
600107375 DOWD JOHN PETER 7.625 .250 7.375 .0400 7.335 11/01/2027
600107376 SHORT DAVID C 7.625 .250 7.375 .0400 7.335 11/01/2027
600107378 COLLINS OLIVER D 7.375 .250 7.125 .0400 7.085 11/01/2027
600107379 GRAYBILL JEFFREY J 7.375 .250 7.125 .0400 7.085 11/01/2027
600107380 WILLIAMS WILLIAM G 7.625 .250 7.375 .0400 7.335 11/01/2027
600107381 VIETRI RICHARD 7.625 .250 7.375 .0400 7.335 11/01/2027
600107384 FULLER JOSEPH M 7.625 .250 7.375 .0400 7.335 11/01/2027
600107385 SELLEW ANN 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>
600107363 BOWMAN DOUGLAS 1484008490 $2,066.85 3 01/01/1998 360
600107365 LECOCHE JACQUELINE 1106090463 $1,755.22 01/01/1998 360
600107368 NELSON ROBERT N 1580063524 $1,727.06 1 01/01/1998 360
600107369 KRISHOCK DAVID 1580064174 $6,992.15 01/01/1998 360
600107370 KATZEFF DANIEL 1587088476 $1,962.97 01/01/1998 360
600107371 MAROM JONATHAN T 1106079154 $2,348.30 01/01/1998 360
600107375 DOWD JOHN PETER 1111137307 $2,689.62 01/01/1998 360
600107376 SHORT DAVID C 1311307739 $2,340.32 3 01/01/1998 360
600107378 COLLINS OLIVER D 1341032877 $1,801.97 3 01/01/1998 360
600107379 GRAYBILL JEFFREY J 1484007396 $1,726.69 3 01/01/1998 360
600107380 WILLIAMS WILLIAM G 1497017494 $2,208.32 01/01/1998 360
600107381 VIETRI RICHARD 1500368713 $1,868.58 01/01/1998 360
600107384 FULLER JOSEPH M 1634021264 $1,762.41 3 01/01/1998 360
600107385 SELLEW ANN 1111122398 $1,989.90 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107363 BOWMAN DOUGLAS .00 .00 .00 .000 .250 .290 $315,000.00 N
600107365 LECOCHE JACQUELINE .00 .00 .00 .000 .250 .290 $327,500.00 N
600107368 NELSON ROBERT N .00 .00 .00 .000 .250 .290 $260,000.00 N
600107369 KRISHOCK DAVID .00 .00 .00 .000 .250 .290 $2,200,000.00 N
600107370 KATZEFF DANIEL .00 .00 .00 .000 .250 .290 $342,500.00 N
600107371 MAROM JONATHAN T .00 .00 .00 .000 .250 .290 $500,000.00 N
600107375 DOWD JOHN PETER .00 .00 .00 .000 .250 .290 $475,000.00 N
600107376 SHORT DAVID C .00 .00 .00 .000 .250 .290 $389,000.00 N
600107378 COLLINS OLIVER D .00 .00 .00 .000 .250 .290 $289,900.00 N
600107379 GRAYBILL JEFFREY J .00 .00 .00 .000 .250 .290 $300,000.00 N
600107380 WILLIAMS WILLIAM G .00 .00 .00 .000 .250 .290 $455,000.00 N
600107381 VIETRI RICHARD .00 .00 .00 .000 .250 .290 $330,000.00 N
600107384 FULLER JOSEPH M .00 .00 .00 .000 .250 .290 $295,000.00 N
600107385 SELLEW ANN .00 .00 .00 .000 .250 .290 $335,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 35
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107386 CARTY CHRISTOPHER 31 MILLER RD MORRISTOWN NJ 07960 $427,908.81
600107392 NILES BRIAN 70 ROCK RIDGE ROAD RYE BROOK NY 10573 $239,361.04
600107397 JONES III 62 SYCAMORE ROAD DUMONT NJ 07628 $241,759.10
600107400 SOMMER DORIS 350 HARVARD STREET U CAMBRIDGE MA 02138 $348,684.92
600107408 ALDER JOHN B 6656 SOUTH ANNE MARIE SALT LAKE CITY UT 84121 $427,053.97
600107411 CORZINE GREGORY ALLEN 250 SOUTH CHADBOURNE LOS ANGELES CA 90049 $1,098,480.99
600107413 JOHNSON EUGENE G 32716 68TH AVENUE NORT STANWOOD WA 98292 $238,153.66
600107416 WISEMAN EDWIN D 6209 53RD STREET COUR TACOMA WA 98467 $275,589.06
600107418 WU WILLIAM S 852 OAK GROVE COURT OJAI CA 93023 $244,626.01
600107420 FARLEY FRANK W 3388 HENDERSON RD MALABAR FL 32905 $250,045.40
600107421 LAWSON RUSSELL 3024 HACKBERRY ROAD OKLAHOMA CITY OK 73120 $327,499.31
600107423 GOLDSTEIN BRAHM 1337 TROON DRIVE WEST LINN OR 97068 $288,547.74
600107424 COFER DIANE 19 HILLBARN COURT SAN MATEO CA 94403 $264,585.29
600107425 STANGEL PETER F 1362 SOUTH VAN NESS A SAN FRANCISCO CA 94110 $303,497.06
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107386 CARTY CHRISTOPHER 7.625 .250 7.375 .0400 7.335 10/01/2027
600107392 NILES BRIAN 7.500 .250 7.250 .0400 7.210 10/01/2027
600107397 JONES III 8.000 .250 7.750 .0400 7.710 10/01/2027
600107400 SOMMER DORIS 7.500 .250 7.250 .0400 7.210 08/01/2027
600107408 ALDER JOHN B 7.375 .250 7.125 .0400 7.085 11/01/2027
600107411 CORZINE GREGORY ALLEN 7.875 .250 7.625 .0400 7.585 11/01/2027
600107413 JOHNSON EUGENE G 7.625 .250 7.375 .0400 7.335 11/01/2027
600107416 WISEMAN EDWIN D 7.500 .250 7.250 .0400 7.210 11/01/2027
600107418 WU WILLIAM S 7.375 .250 7.125 .0400 7.085 11/01/2027
600107420 FARLEY FRANK W 7.750 .250 7.500 .0400 7.460 11/01/2027
600107421 LAWSON RUSSELL 7.375 .250 7.125 .0400 7.085 11/01/2027
600107423 GOLDSTEIN BRAHM 7.250 .250 7.000 .0400 6.960 11/01/2027
600107424 COFER DIANE 7.250 .250 7.000 .0400 6.960 11/01/2027
600107425 STANGEL PETER F 7.500 .250 7.250 .0400 7.210 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>
600107386 CARTY CHRISTOPHER 1101218071 $3,036.44 01/01/1998 360
600107392 NILES BRIAN 1111123991 $1,678.12 01/01/1998 360
600107397 JONES III 1587085525 $1,777.55 12 01/01/1998 360
600107400 SOMMER DORIS 1811072270 $2,447.25 01/01/1998 360
600107408 ALDER JOHN B 1496004114 $2,956.09 01/01/1998 360
600107411 CORZINE GREGORY ALLEN 1596048825 $7,975.77 01/01/1998 360
600107413 JOHNSON EUGENE G 1471012269 $1,688.09 14 01/01/1998 360
600107416 WISEMAN EDWIN D 1472013052 $1,929.83 01/01/1998 360
600107418 WU WILLIAM S 1553008840 $1,692.15 01/01/1998 360
600107420 FARLEY FRANK W 1391038900 $1,793.90 01/01/1998 360
600107421 LAWSON RUSSELL 1456011624 $2,265.41 01/01/1998 360
600107423 GOLDSTEIN BRAHM 1493010970 $1,971.49 01/01/1998 360
600107424 COFER DIANE 1494003937 $1,807.77 01/01/1998 360
600107425 STANGEL PETER F 1494004124 $2,125.61 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107386 CARTY CHRISTOPHER .00 .00 .00 .000 .250 .290 $572,000.00 N
600107392 NILES BRIAN .00 .00 .00 .000 .250 .290 $320,000.00 N
600107397 JONES III .00 .00 .00 .000 .250 .290 $255,000.00 N
600107400 SOMMER DORIS .00 .00 .00 .000 .250 .290 $515,000.00 N
600107408 ALDER JOHN B .00 .00 .00 .000 .250 .290 $540,000.00 N
600107411 CORZINE GREGORY ALLEN .00 .00 .00 .000 .250 .290 $1,850,000.00 N
600107413 JOHNSON EUGENE G .00 .00 .00 .000 .250 .290 $265,000.00 N
600107416 WISEMAN EDWIN D .00 .00 .00 .000 .250 .290 $360,000.00 N
600107418 WU WILLIAM S .00 .00 .00 .000 .250 .290 $465,000.00 N
600107420 FARLEY FRANK W .00 .00 .00 .000 .250 .290 $313,000.00 N
600107421 LAWSON RUSSELL .00 .00 .00 .000 .250 .290 $410,000.00 N
600107423 GOLDSTEIN BRAHM .00 .00 .00 .000 .250 .290 $410,000.00 N
600107424 COFER DIANE .00 .00 .00 .000 .250 .290 $390,000.00 N
600107425 STANGEL PETER F .00 .00 .00 .000 .250 .290 $380,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 36
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107427 CHEEVER GENE K 4145 LAGUNITA COURT SACRAMENTO CA 95864 $295,548.15
600107428 SCHWEERS EDWARD H 232 PINELAND ROAD ATLANTA GA 30342 $318,025.77
600107431 RODWICK PAUL A 1975 BIRMINGHAM ROAD ALPHARETTA GA 30004 $439,328.32
600107434 COWAN R SCOTT 126 GREEN HILL ROAD LONGMEADOW MA 01106 $315,552.48
600107435 HOULIHAN STEPHEN P 22 ALPRILLA FARM RO HOPKINTON MA 01748 $249,645.94
600107436 ROBIOLIO PAUL A 812 CRAIG FOREST LAN SAINT LOUIS MO 63122 $356,494.44
600107437 SCHUPAK STEVEN JL 10922 LAMPLIGHTER LANE POTOMAC MD 20854 $327,499.29
600107438 TOOMEY NORMAN R 119 6TH AVENUE KIRKLAND WA 98033 $389,389.68
600107440 CREMMEN MICHAEL G 412 NORTH MARIA AVEN REDONDO BEACH CA 90277 $239,642.65
600107441 LICHTERMAN MILES 2321 HILL DRIVE LOS ANGELES CA 90041 $287,571.18
600107442 ROBINSON STEVEN D 738 WEDGEWOOD DR CRYSTAL LAKE IL 60014 $303,558.56
600107443 ELDER JONI 1053 WILLIAMSBURG GRAYSLAKE IL 60030 $267,075.25
600107444 COOPER GARY W 23284 LOCHANORA DR HAWTHORN WOODS IL 60047 $269,305.24
600107445 PALELLA THOMAS D 1403 LAWRENCE LAKE FOREST IL 60045 $438,346.36
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107427 CHEEVER GENE K 7.375 .250 7.125 .0400 7.085 11/01/2027
600107428 SCHWEERS EDWARD H 7.500 .250 7.250 .0400 7.210 11/01/2027
600107431 RODWICK PAUL A 7.375 .250 7.125 .0400 7.085 11/01/2027
600107434 COWAN R SCOTT 7.750 .250 7.500 .0400 7.460 11/01/2027
600107435 HOULIHAN STEPHEN P 7.750 .250 7.500 .0400 7.460 11/01/2027
600107436 ROBIOLIO PAUL A 7.750 .250 7.500 .0400 7.460 11/01/2027
600107437 SCHUPAK STEVEN JL 7.375 .250 7.125 .0400 7.085 11/01/2027
600107438 TOOMEY NORMAN R 7.250 .250 7.000 .0400 6.960 11/01/2027
600107440 CREMMEN MICHAEL G 7.500 .250 7.250 .0400 7.210 11/01/2027
600107441 LICHTERMAN MILES 7.500 .250 7.250 .0400 7.210 11/01/2027
600107442 ROBINSON STEVEN D 7.625 .250 7.375 .0400 7.335 11/01/2027
600107443 ELDER JONI 7.625 .250 7.375 .0400 7.335 11/01/2027
600107444 COOPER GARY W 7.625 .250 7.375 .0400 7.335 11/01/2027
600107445 PALELLA THOMAS D 7.500 .250 7.250 .0400 7.210 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>
600107427 CHEEVER GENE K 1550010223 $2,044.40 01/01/1998 360
600107428 SCHWEERS EDWARD H 1566111810 $2,227.00 01/01/1998 360
600107431 RODWICK PAUL A 1566113076 $3,038.98 01/01/1998 360
600107434 COWAN R SCOTT 1580065100 $2,263.87 01/01/1998 360
600107435 HOULIHAN STEPHEN P 1580065246 $1,791.04 01/01/1998 360
600107436 ROBIOLIO PAUL A 1583070741 $2,557.59 01/01/1998 360
600107437 SCHUPAK STEVEN JL 1587088931 $2,265.42 01/01/1998 360
600107438 TOOMEY NORMAN R 1590057517 $2,660.49 01/01/1998 360
600107440 CREMMEN MICHAEL G 1596047946 $1,678.12 01/01/1998 360
600107441 LICHTERMAN MILES 1596048440 $2,013.74 01/01/1998 360
600107442 ROBINSON STEVEN D 1605122224 $2,151.69 01/01/1998 360
600107443 ELDER JONI 1606083627 $1,896.89 01/01/1998 360
600107444 COOPER GARY W 1606085178 $1,911.75 01/01/1998 360
600107445 PALELLA THOMAS D 1614017195 $3,069.55 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107427 CHEEVER GENE K .00 .00 .00 .000 .250 .290 $370,000.00 N
600107428 SCHWEERS EDWARD H .00 .00 .00 .000 .250 .290 $490,000.00 N
600107431 RODWICK PAUL A .00 .00 .00 .000 .250 .290 $670,000.00 N
600107434 COWAN R SCOTT .00 .00 .00 .000 .250 .290 $395,000.00 N
600107435 HOULIHAN STEPHEN P .00 .00 .00 .000 .250 .290 $312,500.00 N
600107436 ROBIOLIO PAUL A .00 .00 .00 .000 .250 .290 $450,000.00 N
600107437 SCHUPAK STEVEN JL .00 .00 .00 .000 .250 .290 $509,000.00 N
600107438 TOOMEY NORMAN R .00 .00 .00 .000 .250 .290 $540,000.00 N
600107440 CREMMEN MICHAEL G .00 .00 .00 .000 .250 .290 $300,000.00 N
600107441 LICHTERMAN MILES .00 .00 .00 .000 .250 .290 $360,000.00 N
600107442 ROBINSON STEVEN D .00 .00 .00 .000 .250 .290 $450,000.00 N
600107443 ELDER JONI .00 .00 .00 .000 .250 .290 $335,000.00 N
600107444 COOPER GARY W .00 .00 .00 .000 .250 .290 $370,000.00 N
600107445 PALELLA THOMAS D .00 .00 .00 .000 .250 .290 $554,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 37
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107446 HEYRICH GEORGE P 49 BOWMANS DR W WASHINGTON CROS PA 18977 $404,510.96
600107447 YATES JAMES M 1172 BRADCLIFF DR SANTA ANA CA 92705 $338,282.23
600107448 SANDFORD MARK S 10591 SO MEADS AVE ORANGE AREA CA 92669 $337,509.18
600107450 RAMSDELL W ROBERT 3 EATON CT RANCHO MIRAGE CA 92270 $449,329.97
600107452 ASHCRAFT MARTHA J 2001 ASPEN OAK STREET LAS VEGAS NV 89134 $329,920.22
600107453 SAMLASKA CURTIS P 2069 EAGLE PATH CIRCL HENDERSON NV 89014 $285,504.76
600107456 GIAMALVA FRANK PETER 281 NEW GATE LOOP LAKE MARY FL 32746 $374,441.66
600107457 CASEY JR THOMAS 1239 NASHVILLE AVENUE NEW ORLEANS LA 70115 $259,622.45
600107458 GRABEN STEVEN D 51 FOREST RIDGE LAN SPRINGFIELD IL 62707 $249,290.83
600107460 RAY MARGARET S 5180 CAMINO FLORAL SANTA BARBARA CA 93111 $403,413.33
600107462 SUKONICK HOWARD 911 HAGYS FORD ROAD NARBERTH PA 19072 $259,631.79
600107463 BECKER CHARLES M 4482 MUIR AVENUE SAN DIEGO CA 92107 $270,366.57
600107465 LANGER FRED R 4204 DELAWARE COURT NADERVILLE IL 60564 $367,478.86
600107466 ENGELHARDT JOHN 10265 SHREWSBURY RUN W COLLIERVILLE TN 38017 $265,983.10
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107446 HEYRICH GEORGE P 7.625 .250 7.375 .0400 7.335 11/01/2027
600107447 YATES JAMES M 7.875 .250 7.625 .0400 7.585 11/01/2027
600107448 SANDFORD MARK S 7.625 .250 7.375 .0400 7.335 11/01/2027
600107450 RAMSDELL W ROBERT 7.500 .250 7.250 .0400 7.210 11/01/2027
600107452 ASHCRAFT MARTHA J 7.625 .250 7.375 .0400 7.335 11/01/2027
600107453 SAMLASKA CURTIS P 7.750 .250 7.500 .0400 7.460 11/01/2027
600107456 GIAMALVA FRANK PETER 7.500 .250 7.250 .0400 7.210 11/01/2027
600107457 CASEY JR THOMAS 7.625 .250 7.375 .0400 7.335 11/01/2027
600107458 GRABEN STEVEN D 7.250 .250 7.000 .0400 6.960 11/01/2027
600107460 RAY MARGARET S 7.625 .250 7.375 .0400 7.335 11/01/2027
600107462 SUKONICK HOWARD 7.750 .250 7.500 .0400 7.460 11/01/2027
600107463 BECKER CHARLES M 7.750 .250 7.500 .0400 7.460 11/01/2027
600107465 LANGER FRED R 7.750 .250 7.500 .0400 7.460 11/01/2027
600107466 ENGELHARDT JOHN 7.250 .250 7.000 .0400 6.960 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>
600107446 HEYRICH GEORGE P 1175039283 $2,867.98 01/01/1998 360
600107447 YATES JAMES M 1231008820 $2,456.17 01/01/1998 360
600107448 SANDFORD MARK S 1231008910 $2,392.34 01/01/1998 360
600107450 RAMSDELL W ROBERT 1233020917 $3,146.47 01/01/1998 360
600107452 ASHCRAFT MARTHA J 1251147498 $2,338.55 01/01/1998 360
600107453 SAMLASKA CURTIS P 1251148956 $2,052.52 01/01/1998 360
600107456 GIAMALVA FRANK PETER 1331165513 $2,622.05 01/01/1998 360
600107457 CASEY JR THOMAS 1435011535 $1,840.26 01/01/1998 360
600107458 GRABEN STEVEN D 1456011704 $1,705.44 01/01/1998 360
600107460 RAY MARGARET S 1484008060 $2,859.49 01/01/1998 360
600107462 SUKONICK HOWARD 1500392922 $1,862.68 01/01/1998 360
600107463 BECKER CHARLES M 1506344230 $1,939.69 14 01/01/1998 360
600107465 LANGER FRED R 1507322175 $2,636.40 01/01/1998 360
600107466 ENGELHARDT JOHN 1511196449 $1,817.32 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107446 HEYRICH GEORGE P .00 .00 .00 .000 .250 .290 $506,500.00 N
600107447 YATES JAMES M .00 .00 .00 .000 .250 .290 $435,000.00 N
600107448 SANDFORD MARK S .00 .00 .00 .000 .250 .290 $450,000.00 N
600107450 RAMSDELL W ROBERT .00 .00 .00 .000 .250 .290 $800,000.00 N
600107452 ASHCRAFT MARTHA J .00 .00 .00 .000 .250 .290 $440,581.00 N
600107453 SAMLASKA CURTIS P .00 .00 .00 .000 .250 .290 $375,000.00 N
600107456 GIAMALVA FRANK PETER .00 .00 .00 .000 .250 .290 $475,000.00 N
600107457 CASEY JR THOMAS .00 .00 .00 .000 .250 .290 $402,000.00 N
600107458 GRABEN STEVEN D .00 .00 .00 .000 .250 .290 $318,000.00 N
600107460 RAY MARGARET S .00 .00 .00 .000 .250 .290 $505,000.00 N
600107462 SUKONICK HOWARD .00 .00 .00 .000 .250 .290 $325,000.00 N
600107463 BECKER CHARLES M .00 .00 .00 .000 .250 .290 $285,000.00 N
600107465 LANGER FRED R .00 .00 .00 .000 .250 .290 $460,000.00 N
600107466 ENGELHARDT JOHN .00 .00 .00 .000 .250 .290 $333,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 38
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107468 INDIVERI JAMES B 608 NE PERSIMMON LEE'S SUMMIT MO 64064 $280,392.25
600107469 PICKREN TOM 24418 177TH AVE SE MAPLE VALLEY WA 98038 $399,447.63
600107470 COLON BRIAN H 5600 SOUTH LOCUST STR ENGLEWOOD CO 80111 $349,504.36
600107471 HERRUD JAMES E 1604 BROOKLAWN STREET MCCALL ID 83638 $279,593.41
600107475 BYLER GREGORY G 26218 135TH AVENUE SOU KENT WA 98042 $259,213.46
600107476 TOMSU MICHAEL J 7605 NEWHALL LANE AUSTIN TX 78746 $439,392.39
600107477 COOPER JEFFREY H 8345 COVENTRY COURT GRANITE BAY CA 95746 $439,311.43
600107478 WILSON ELLEN KAY 153 COLLEGE AVENUE SAN FRANCISCO CA 94112 $255,646.48
600107480 GARFIELD WILLIAM L 128 DOVER STREET LOS GATOS CA 95032 $245,660.28
600107482 VINSON JONATHAN TODD 20184 PACIFICA DRIVE CUPERTINO CA 95014 $243,663.06
600107484 KOLTOWININGER ED 310 MEADOWOOD COURT PLEASANT HILL CA 94523 $300,352.12
600107485 SCHNEIDER GARY D 2122 GILL PORT LANE WALNUT CREEK CA 94598 $261,600.05
600107487 RYLANDER MICHAEL K 137 WEST BLITHEDALE MILL VALLEY CA 94941 $439,376.89
600107488 DEL ROSARIO LA 4715 SILVERTIDE DRIVE UNION CITY CA 94587 $312,867.35
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107468 INDIVERI JAMES B 7.625 .250 7.375 .0400 7.335 11/01/2027
600107469 PICKREN TOM 7.875 .250 7.625 .0400 7.585 11/01/2027
600107470 COLON BRIAN H 7.750 .250 7.500 .0400 7.460 11/01/2027
600107471 HERRUD JAMES E 7.625 .250 7.375 .0400 7.335 11/01/2027
600107475 BYLER GREGORY G 7.500 .250 7.250 .0400 7.210 11/01/2027
600107476 TOMSU MICHAEL J 7.875 .250 7.625 .0400 7.585 11/01/2027
600107477 COOPER JEFFREY H 7.250 .250 7.000 .0400 6.960 11/01/2027
600107478 WILSON ELLEN KAY 7.875 .250 7.625 .0400 7.585 11/01/2027
600107480 GARFIELD WILLIAM L 7.875 .250 7.625 .0400 7.585 11/01/2027
600107482 VINSON JONATHAN TODD 7.875 .250 7.625 .0400 7.585 11/01/2027
600107484 KOLTOWININGER ED 7.500 .250 7.250 .0400 7.210 11/01/2027
600107485 SCHNEIDER GARY D 7.375 .250 7.125 .0400 7.085 11/01/2027
600107487 RYLANDER MICHAEL K 7.750 .250 7.500 .0400 7.460 11/01/2027
600107488 DEL ROSARIO LA 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>
600107468 INDIVERI JAMES B 1512180400 $1,987.48 01/01/1998 360
600107469 PICKREN TOM 1513196905 $2,900.28 01/01/1998 360
600107470 COLON BRIAN H 1513197318 $2,507.44 01/01/1998 360
600107471 HERRUD JAMES E 1513199867 $1,981.82 01/01/1998 360
600107475 BYLER GREGORY G 1513212863 $1,815.17 01/01/1998 360
600107476 TOMSU MICHAEL J 1520007128 $3,190.31 01/01/1998 360
600107477 COOPER JEFFREY H 1550019873 $3,001.58 01/01/1998 360
600107478 WILSON ELLEN KAY 1561370606 $1,856.18 01/01/1998 360
600107480 GARFIELD WILLIAM L 1561374232 $1,783.68 01/01/1998 360
600107482 VINSON JONATHAN TODD 1561374470 $1,769.17 01/01/1998 360
600107484 KOLTOWININGER ED 1561375825 $2,103.24 01/01/1998 360
600107485 SCHNEIDER GARY D 1561375858 $1,809.57 01/01/1998 360
600107487 RYLANDER MICHAEL K 1561376012 $3,152.22 01/01/1998 360
600107488 DEL ROSARIO LA 1561377354 $2,271.65 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107468 INDIVERI JAMES B .00 .00 .00 .000 .250 .290 $351,000.00 N
600107469 PICKREN TOM .00 .00 .00 .000 .250 .290 $540,000.00 N
600107470 COLON BRIAN H .00 .00 .00 .000 .250 .290 $490,000.00 N
600107471 HERRUD JAMES E .00 .00 .00 .000 .250 .290 $375,000.00 N
600107475 BYLER GREGORY G .00 .00 .00 .000 .250 .290 $324,500.00 N
600107476 TOMSU MICHAEL J .00 .00 .00 .000 .250 .290 $600,000.00 N
600107477 COOPER JEFFREY H .00 .00 .00 .000 .250 .290 $550,000.00 N
600107478 WILSON ELLEN KAY .00 .00 .00 .000 .250 .290 $320,000.00 N
600107480 GARFIELD WILLIAM L .00 .00 .00 .000 .250 .290 $640,000.00 N
600107482 VINSON JONATHAN TODD .00 .00 .00 .000 .250 .290 $312,000.00 N
600107484 KOLTOWININGER ED .00 .00 .00 .000 .250 .290 $376,000.00 N
600107485 SCHNEIDER GARY D .00 .00 .00 .000 .250 .290 $327,500.00 N
600107487 RYLANDER MICHAEL K .00 .00 .00 .000 .250 .290 $550,000.00 N
600107488 DEL ROSARIO LA .00 .00 .00 .000 .250 .290 $413,376.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 39
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107490 AXT KENNETH R 3167 NW TALON TERRACE PORTLAND OR 97229 $281,151.28
600107491 SHEETS EDWARD W 3055 NW CUMBERLAND RD PORTLAND OR 97210 $369,462.70
600107492 BUCHANAN G GLENN 13720 229TH DR SE ISSAQUAH WA 98027 $419,420.00
600107493 BANHOLZER RICHARD T 27133 SE 25TH PL ISSAQUAH WA 98029 $357,825.93
600107496 WAIT JAMES D 14226 MORNING AIR ROAD POWAY CA 92064 $324,528.05
600107499 BEECHER SHERRELL LEE 13139 SEAGROVE STREET SAN DIEGO CA 92130 $442,188.54
600107500 BRUNSON DOUGLAS C 3355 TULAMENE WAY RENO NV 89509 $289,529.51
600107501 BAILY ROBERT BEN 3915 EAST RANCHO DRIV PARADISE VALLEY AZ 85253 $399,433.54
600107502 LABARBERA GEORGE H 593 NORTH TATUM LANE GILBERT AZ 85234 $269,607.90
600107504 AMIRFATHI KARIM 7150 S BOULDER RD BOULDER CO 80303 $409,604.33
600107505 FRITSCH SHERRI J 881 WOLVERINE COURT CASTLE ROCK CO 80104 $435,350.82
600107506 JOHNSTONE III CHARLES 13415 49TH STREET NORT BAYTOWN TOWNSHI MN 55082 $279,603.47
600107507 WOLFSON KENNETH 26111 GLEN CANYON DRIV LAGUNA HILLS CA 92653 $434,368.30
600107508 HANSON NOEL R 1051 LA LOMA ROAD PASADENA CA 91105 $411,915.82
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107490 AXT KENNETH R 7.750 .250 7.500 .0400 7.460 11/01/2027
600107491 SHEETS EDWARD W 7.625 .250 7.375 .0400 7.335 11/01/2027
600107492 BUCHANAN G GLENN 7.875 .250 7.625 .0400 7.585 11/01/2027
600107493 BANHOLZER RICHARD T 7.625 .250 7.375 .0400 7.335 11/01/2027
600107496 WAIT JAMES D 7.625 .250 7.375 .0400 7.335 11/01/2027
600107499 BEECHER SHERRELL LEE 7.875 .250 7.625 .0400 7.585 11/01/2027
600107500 BRUNSON DOUGLAS C 7.875 .250 7.625 .0400 7.585 11/01/2027
600107501 BAILY ROBERT BEN 7.750 .250 7.500 .0400 7.460 11/01/2027
600107502 LABARBERA GEORGE H 7.625 .250 7.375 .0400 7.335 11/01/2027
600107504 AMIRFATHI KARIM 7.625 .250 7.375 .0400 7.335 11/01/2027
600107505 FRITSCH SHERRI J 7.500 .250 7.250 .0400 7.210 11/01/2027
600107506 JOHNSTONE III CHARLES 7.750 .250 7.500 .0400 7.460 11/01/2027
600107507 WOLFSON KENNETH 7.625 .250 7.375 .0400 7.335 11/01/2027
600107508 HANSON NOEL 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>
600107490 AXT KENNETH R 1565172127 $2,017.06 01/01/1998 360
600107491 SHEETS EDWARD W 1565173108 $2,618.84 01/01/1998 360
600107492 BUCHANAN G GLENN 1565175974 $3,045.30 01/01/1998 360
600107493 BANHOLZER RICHARD T 1565176230 $2,536.38 01/01/1998 360
600107496 WAIT JAMES D 1567206150 $2,300.33 01/01/1998 360
600107499 BEECHER SHERRELL LEE 1567208600 $3,210.61 01/01/1998 360
600107500 BRUNSON DOUGLAS C 1567209385 $2,102.71 01/01/1998 360
600107501 BAILY ROBERT BEN 1569183522 $2,865.65 01/01/1998 360
600107502 LABARBERA GEORGE H 1569184161 $1,911.05 01/01/1998 360
600107504 AMIRFATHI KARIM 1579063662 $2,903.37 01/01/1998 360
600107505 FRITSCH SHERRI J 1581140234 $3,048.58 01/01/1998 360
600107506 JOHNSTONE III CHARLES 1583073761 $2,005.96 01/01/1998 360
600107507 WOLFSON KENNETH 1595039830 $3,078.91 01/01/1998 360
600107508 HANSON NOEL R 1595058244 $2,955.21 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107490 AXT KENNETH R .00 .00 .00 .000 .250 .290 $359,900.00 N
600107491 SHEETS EDWARD W .00 .00 .00 .000 .250 .290 $615,000.00 N
600107492 BUCHANAN G GLENN .00 .00 .00 .000 .250 .290 $525,000.00 N
600107493 BANHOLZER RICHARD T .00 .00 .00 .000 .250 .290 $447,990.00 N
600107496 WAIT JAMES D .00 .00 .00 .000 .250 .290 $440,000.00 N
600107499 BEECHER SHERRELL LEE .00 .00 .00 .000 .250 .290 $553,536.00 N
600107500 BRUNSON DOUGLAS C .00 .00 .00 .000 .250 .290 $400,000.00 N
600107501 BAILY ROBERT BEN .00 .00 .00 .000 .250 .290 $540,000.00 N
600107502 LABARBERA GEORGE H .00 .00 .00 .000 .250 .290 $367,702.00 N
600107504 AMIRFATHI KARIM .00 .00 .00 .000 .250 .290 $512,750.00 N
600107505 FRITSCH SHERRI J .00 .00 .00 .000 .250 .290 $545,000.00 N
600107506 JOHNSTONE III CHARLES .00 .00 .00 .000 .250 .290 $350,000.00 N
600107507 WOLFSON KENNETH .00 .00 .00 .000 .250 .290 $545,000.00 N
600107508 HANSON NOEL R .00 .00 .00 .000 .250 .290 $550,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 40
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107509 THOMAS NANCY JO 10615 EQUESTRIAN DRIVE SANTA ANA AREA CA 92705 $344,499.01
600107510 RYERSON BERNADETTE 22271 BUTTERFIELD MISSION VIEJO CA 92692 $261,170.00
600107511 KAUFMAN RON I 2072 BORDEAUX LANE HALF MOON BAY CA 94019 $264,134.75
600107512 PERSICHETTI JOHN 2240 RANCH VIEW PLACE THOUSAND OAKS CA 91362 $398,834.38
600107513 VALDEZ ARMANDO JAVIER 20360 HERBSHEY CIRCLE YORBA LINDA CA 92887 $243,454.73
600107515 FRIEDMAN PHILLIP C 624 NORTH BUNDY DRIV LOS ANGELES CA 90049 $529,268.12
600107517 MCCARTHYHUDSON PAMELA 1622 NORTH ORANGE GRO LOS ANGELES CA 90046 $274,580.20
600107518 DUBIN MITCH 3507 MOORE STREET LOS ANGELES CA 90066 $299,553.31
600107519 HERMAN ROBERT 1314 SUMMITRIDGE PLAC BEVERLY HILLS CA 90210 $431,403.45
600107521 HUTCHINS GREGGORY J 11224 BROADVIEW DRIVE MOORPARK CA 93021 $347,507.17
600107522 EASTIN RICHARD V 1036 ARMADA DRIVE PASADENA CA 91103 $379,448.18
600107523 GEE CHRISTOPHER W 19 NORTH MEDEA CREE AGOURA CA 91301 $261,228.66
600107528 GALENTINE RODNEY E 2 AUTUMNWOOD DR NEWARK DE 19711 $270,696.36
600107532 PLATISHA RONALD 4925 FAIRWOOD CIR YORBA LINDA CA 92687 $447,316.11
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107509 THOMAS NANCY JO 7.625 .250 7.375 .0400 7.335 11/01/2027
600107510 RYERSON BERNADETTE 7.375 .250 7.125 .0400 7.085 11/01/2027
600107511 KAUFMAN RON I 7.875 .250 7.625 .0400 7.585 11/01/2027
600107512 PERSICHETTI JOHN 7.750 .250 7.500 .0400 7.460 11/01/2027
600107513 VALDEZ ARMANDO JAVIER 7.750 .250 7.500 .0400 7.460 11/01/2027
600107515 FRIEDMAN PHILLIP C 7.875 .250 7.625 .0400 7.585 11/01/2027
600107517 MCCARTHYHUDSON PAMELA 7.375 .250 7.125 .0400 7.085 11/01/2027
600107518 DUBIN MITCH 7.500 .250 7.250 .0400 7.210 11/01/2027
600107519 HERMAN ROBERT 7.875 .250 7.625 .0400 7.585 11/01/2027
600107521 HUTCHINS GREGGORY J 7.750 .250 7.500 .0400 7.460 11/01/2027
600107522 EASTIN RICHARD V 7.625 .250 7.375 .0400 7.335 11/01/2027
600107523 GEE CHRISTOPHER W 7.750 .250 7.500 .0400 7.460 11/01/2027
600107528 GALENTINE RODNEY E 7.500 .250 7.250 .0400 7.210 11/01/2027
600107532 PLATISHA RONALD 7.375 .250 7.125 .0400 7.085 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>
600107509 THOMAS NANCY JO 1595060097 $2,441.89 01/01/1998 360
600107510 RYERSON BERNADETTE 1595061056 $1,834.44 01/01/1998 360
600107511 KAUFMAN RON I 1595061090 $1,917.81 01/01/1998 360
600107512 PERSICHETTI JOHN 1595061147 $2,861.36 14 01/01/1998 360
600107513 VALDEZ ARMANDO JAVIER 1595061839 $1,746.62 12 01/01/1998 360
600107515 FRIEDMAN PHILLIP C 1596048621 $3,842.87 01/01/1998 360
600107517 MCCARTHYHUDSON PAMELA 1596048905 $1,899.36 01/01/1998 360
600107518 DUBIN MITCH 1596048938 $2,097.65 01/01/1998 360
600107519 HERMAN ROBERT 1596049158 $3,132.30 01/01/1998 360
600107521 HUTCHINS GREGGORY J 1596049759 $2,493.12 01/01/1998 360
600107522 EASTIN RICHARD V 1596050000 $2,689.62 01/01/1998 360
600107523 GEE CHRISTOPHER W 1596050044 $1,874.14 01/01/1998 360
600107528 GALENTINE RODNEY E 1181080474 $1,895.57 01/01/1998 360
600107532 PLATISHA RONALD 1231008896 $3,094.23 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107509 THOMAS NANCY JO .00 .00 .00 .000 .250 .290 $440,000.00 N
600107510 RYERSON BERNADETTE .00 .00 .00 .000 .250 .290 $430,000.00 N
600107511 KAUFMAN RON I .00 .00 .00 .000 .250 .290 $375,000.00 N
600107512 PERSICHETTI JOHN .00 .00 .00 .000 .250 .290 $460,000.00 N
600107513 VALDEZ ARMANDO JAVIER .00 .00 .00 .000 .250 .290 $270,900.00 N
600107515 FRIEDMAN PHILLIP C .00 .00 .00 .000 .250 .290 $1,150,000.00 N
600107517 MCCARTHYHUDSON PAMELA .00 .00 .00 .000 .250 .290 $600,000.00 N
600107518 DUBIN MITCH .00 .00 .00 .000 .250 .290 $375,000.00 N
600107519 HERMAN ROBERT .00 .00 .00 .000 .250 .290 $682,000.00 N
600107521 HUTCHINS GREGGORY J .00 .00 .00 .000 .250 .290 $435,000.00 N
600107522 EASTIN RICHARD V .00 .00 .00 .000 .250 .290 $770,000.00 N
600107523 GEE CHRISTOPHER W .00 .00 .00 .000 .250 .290 $327,000.00 N
600107528 GALENTINE RODNEY E .00 .00 .00 .000 .250 .290 $338,919.00 N
600107532 PLATISHA RONALD .00 .00 .00 .000 .250 .290 $560,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 41
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107533 KIM DOUGLAS H 2740 KENNINGTON DR GLENDALE CA 91206 $236,147.88
600107534 LE DONE CLARK 2560 SCHOOLEY DR TUSTIN CA 92782 $279,583.10
600107535 CHEN FA CHUNG 12831 CORBETT CT SAN DIEGO CA 92130 $321,483.48
600107536 BROOKMAN MARK L 5993 SEACREST VIEW RD SAN DIEGO CA 92121 $252,284.52
600107538 WILMOT BRADLEY C 2223 GLEN CANYON RD ALTADENA CA 91001 $273,592.03
600107539 LENHART DAVID M 7145 S VALLEY CIRCLE LAMBERTVILLE MI 48144 $263,606.92
600107540 FABER MICHAEL A 6684 32ND PLACE NW WASHINGTON DC 20015 $374,641.36
600107541 DOWIS FRANKLIN M 75 CHILDE DR COLORADO SPRING CO 80906 $248,320.36
600107542 ALLEN LARRY M 15779 W MAPLE DR GOLDEN CO 80401 $398,898.14
600107543 THEOBALD KENNETH W 5740 BIG CANON DRIVE GREENWOOD VILLA CO 80111 $311,112.37
600107545 GRAND KENNETH 23 EAST PUEBLO STRE SANTA BARBARA CA 93105 $298,369.10
600107546 BLACK BRUCE L 2442 IRON CANYON DRIV PARK CITY UT 84060 $997,218.08
600107547 MOFFITT SUZANNE S 6758 S VISTA GRANDE SALT LAKE CITY UT 84121 $294,560.77
600107551 LYNN ROBERT KENNETH 164 MANNING GIN ROAD BETHLEHEM GA 30620 $259,612.87
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107533 KIM DOUGLAS H 7.500 .250 7.250 .0400 7.210 11/01/2027
600107534 LE DONE CLARK 7.500 .250 7.250 .0400 7.210 11/01/2027
600107535 CHEN FA CHUNG 7.125 .250 6.875 .0400 6.835 11/01/2027
600107536 BROOKMAN MARK L 7.000 .250 6.750 .0400 6.710 11/01/2027
600107538 WILMOT BRADLEY C 7.500 .250 7.250 .0400 7.210 11/01/2027
600107539 LENHART DAVID M 7.500 .250 7.250 .0400 7.210 11/01/2027
600107540 FABER MICHAEL A 7.500 .250 7.250 .0400 7.210 11/01/2027
600107541 DOWIS FRANKLIN M 7.375 .250 7.125 .0400 7.085 11/01/2027
600107542 ALLEN LARRY M 7.500 .250 7.250 .0400 7.210 11/01/2027
600107543 THEOBALD KENNETH W 7.250 .250 7.000 .0400 6.960 11/01/2027
600107545 GRAND KENNETH 7.250 .250 7.000 .0400 6.960 11/01/2027
600107546 BLACK BRUCE L 7.625 .250 7.375 .0400 7.335 11/01/2027
600107547 MOFFITT SUZANNE S 7.500 .250 7.250 .0400 7.210 11/01/2027
600107551 LYNN ROBERT KENNETH 7.500 .250 7.250 .0400 7.210 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>
600107533 KIM DOUGLAS H 1233017286 $1,653.64 01/01/1998 360
600107534 LE DONE CLARK 1233019940 $1,957.80 01/01/1998 360
600107535 CHEN FA CHUNG 1235005197 $2,169.37 01/01/1998 360
600107536 BROOKMAN MARK L 1243007620 $1,681.22 01/01/1998 360
600107538 WILMOT BRADLEY C 1246024273 $1,915.85 01/01/1998 360
600107539 LENHART DAVID M 1412018127 $1,845.93 01/01/1998 360
600107540 FABER MICHAEL A 1456010494 $2,623.45 01/01/1998 360
600107541 DOWIS FRANKLIN M 1461113780 $1,717.71 01/01/1998 360
600107542 ALLEN LARRY M 1461114116 $2,796.86 01/01/1998 360
600107543 THEOBALD KENNETH W 1463010440 $2,125.66 01/01/1998 360
600107545 GRAND KENNETH 1484009890 $2,039.71 01/01/1998 360
600107546 BLACK BRUCE L 1497016152 $7,070.86 01/01/1998 360
600107547 MOFFITT SUZANNE S 1497017600 $2,062.68 01/01/1998 360
600107551 LYNN ROBERT KENNETH 1511192528 $1,817.96 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107533 KIM DOUGLAS H .00 .00 .00 .000 .250 .290 $375,000.00 N
600107534 LE DONE CLARK .00 .00 .00 .000 .250 .290 $350,237.00 N
600107535 CHEN FA CHUNG .00 .00 .00 .000 .250 .290 $450,000.00 N
600107536 BROOKMAN MARK L .00 .00 .00 .000 .250 .290 $315,885.00 N
600107538 WILMOT BRADLEY C .00 .00 .00 .000 .250 .290 $345,000.00 N
600107539 LENHART DAVID M .00 .00 .00 .000 .250 .290 $330,000.00 N
600107540 FABER MICHAEL A .00 .00 .00 .000 .250 .290 $472,000.00 N
600107541 DOWIS FRANKLIN M .00 .00 .00 .000 .250 .290 $349,500.00 N
600107542 ALLEN LARRY M .00 .00 .00 .000 .250 .290 $680,000.00 N
600107543 THEOBALD KENNETH W .00 .00 .00 .000 .250 .290 $389,500.00 N
600107545 GRAND KENNETH .00 .00 .00 .000 .250 .290 $560,000.00 N
600107546 BLACK BRUCE L .00 .00 .00 .000 .250 .290 $1,700,000.00 N
600107547 MOFFITT SUZANNE S .00 .00 .00 .000 .250 .290 $460,000.00 N
600107551 LYNN ROBERT KENNETH .00 .00 .00 .000 .250 .290 $325,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 42
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107553 BACHMAN STEVE 6445 RIVER CHASE CIRC ATLANTA GA 30328 $349,478.88
600107554 CABANO MICHAEL R 7470 E JOURNEY LANE SCOTTSDALE AZ 85255 $277,176.25
600107559 AITKEN JR JOHN 3300 ARBOR VISTA DRIV PLANO TX 75093 $247,730.60
600107560 VAUGHN P BYON 107 SANDY OAKS DRIVE BOERNE TX 78015 $308,539.93
600107562 SCHON MARK S 826 SKYWOOD ROAD LAFAYETTE CA 94549 $346,483.35
600107563 LOGAN MICHAEL L 3692 ASBURY STREET UNIVERSITY PARK TX 75205 $313,628.32
600107564 LUCKWALD MARGARET E 107 KENDALL RIDGE BOERNE TX 78015 $310,475.32
600107565 KUDLAC RUDENA S 1504 ROYAL LANE COLLEYVILLE TX 76034 $267,600.96
600107566 ELBEL TIM J 495 NW SKYLINE BLVD PORTLAND OR 97229 $294,571.60
600107568 PEYTON RONALD G 1640 MID BROADWELL RO ALPHARETTA GA 30004 $301,538.99
600107571 KENNAN NADAV 72 HIGH STREET SOUTHAMPTON MA 01073 $369,462.70
600107573 LOPIANO MICHAEL F 125 PARTRIDGE DRIVE WESTWOOD MA 02090 $434,352.30
600107575 DUNGEY TIMOTHY I 800 NAVAHO ROAD MEDINA MN 55340 $439,344.86
600107576 RICKEY MICHAEL 2036 WEST WABANSIA CHICAGO IL 60647 $264,115.90
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107553 BACHMAN STEVE 7.500 .250 7.250 .0400 7.210 11/01/2027
600107554 CABANO MICHAEL R 7.375 .250 7.125 .0400 7.085 11/01/2027
600107559 AITKEN JR JOHN 7.500 .250 7.250 .0400 7.210 11/01/2027
600107560 VAUGHN P BYON 7.500 .250 7.250 .0400 7.210 11/01/2027
600107562 SCHON MARK S 7.500 .250 7.250 .0400 7.210 11/01/2027
600107563 LOGAN MICHAEL L 7.500 .250 7.250 .0400 7.210 11/01/2027
600107564 LUCKWALD MARGARET E 7.375 .250 7.125 .0400 7.085 11/01/2027
600107565 KUDLAC RUDENA S 7.500 .250 7.250 .0400 7.210 11/01/2027
600107566 ELBEL TIM J 7.625 .250 7.375 .0400 7.335 11/01/2027
600107568 PEYTON RONALD G 7.375 .250 7.125 .0400 7.085 11/01/2027
600107571 KENNAN NADAV 7.625 .250 7.375 .0400 7.335 11/01/2027
600107573 LOPIANO MICHAEL F 7.500 .250 7.250 .0400 7.210 11/01/2027
600107575 DUNGEY TIMOTHY I 7.500 .250 7.250 .0400 7.210 11/01/2027
600107576 RICKEY MICHAEL 7.625 .250 7.375 .0400 7.335 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>
600107553 BACHMAN STEVE 1511203114 $2,447.25 01/01/1998 360
600107554 CABANO MICHAEL R 1512184263 $1,917.31 01/01/1998 360
600107559 AITKEN JR JOHN 1524007265 $1,734.75 01/01/1998 360
600107560 VAUGHN P BYON 1526011070 $2,160.57 01/01/1998 360
600107562 SCHON MARK S 1550020453 $2,426.27 01/01/1998 360
600107563 LOGAN MICHAEL L 1563173730 $2,198.34 01/01/1998 360
600107564 LUCKWALD MARGARET E 1563174391 $2,147.66 01/01/1998 360
600107565 KUDLAC RUDENA S 1563174449 $1,873.90 01/01/1998 360
600107566 ELBEL TIM J 1565175475 $2,088.00 01/01/1998 360
600107568 PEYTON RONALD G 1566112029 $2,085.84 01/01/1998 360
600107571 KENNAN NADAV 1580060537 $2,618.84 01/01/1998 360
600107573 LOPIANO MICHAEL F 1580065596 $3,041.59 01/01/1998 360
600107575 DUNGEY TIMOTHY I 1583071813 $3,076.55 01/01/1998 360
600107576 RICKEY MICHAEL 1583072180 $1,872.12 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107553 BACHMAN STEVE .00 .00 .00 .000 .250 .290 $446,500.00 N
600107554 CABANO MICHAEL R .00 .00 .00 .000 .250 .290 $347,000.00 N
600107559 AITKEN JR JOHN .00 .00 .00 .000 .250 .290 $310,126.00 N
600107560 VAUGHN P BYON .00 .00 .00 .000 .250 .290 $388,000.00 N
600107562 SCHON MARK S .00 .00 .00 .000 .250 .290 $700,000.00 N
600107563 LOGAN MICHAEL L .00 .00 .00 .000 .250 .290 $393,000.00 N
600107564 LUCKWALD MARGARET E .00 .00 .00 .000 .250 .290 $389,486.00 N
600107565 KUDLAC RUDENA S .00 .00 .00 .000 .250 .290 $335,000.00 N
600107566 ELBEL TIM J .00 .00 .00 .000 .250 .290 $376,000.00 N
600107568 PEYTON RONALD G .00 .00 .00 .000 .250 .290 $500,000.00 N
600107571 KENNAN NADAV .00 .00 .00 .000 .250 .290 $470,000.00 N
600107573 LOPIANO MICHAEL F .00 .00 .00 .000 .250 .290 $629,000.00 N
600107575 DUNGEY TIMOTHY I .00 .00 .00 .000 .250 .290 $550,000.00 N
600107576 RICKEY MICHAEL .00 .00 .00 .000 .250 .290 $454,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 43
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107577 MILDENHALL STEPHEN JM 1010 WOODBINE AVENUE OAK PARK IL 60302 $237,254.97
600107578 GRIGSBY M TODD 4 KINGSLEY COURT STAFFORD VA 22405 $243,411.94
600107579 MCCOY JOHN L 11965 SIMPSON ROAD CLARKSVILLE MD 21029 $314,530.98
600107580 CASE CORY F 4530 TULIP WAY ELLICOTT CITY MD 21043 $273,116.35
600107582 SCHOLL MICHAEL R N17 W34215 DAVIES STRE OCONOMOWOC WI 53066 $317,526.50
600107583 TAYLOR ROB R 6 PIEDMONT DOVE CANYON ARE CA 92679 $332,291.97
600107584 GOLDBERG HARRY 4236 WHISPERING PINE LOS ANGELES CA 91316 $439,344.86
600107585 HARDY SCOTT 16552 GRAHAM PLACE HUNTINGTON BEAC CA 92649 $381,916.09
600107586 CARROLL MARK S 7906 BELAND AVENUE LOS ANGELES CA 90045 $288,569.70
600107587 SUCHSLAND KEVIN M 650 TREETOP LANE GURNEE IL 60031 $239,651.48
600107588 GUIDOTTI ALESSANDRO 859 N DEARBORN CHICAGO IL 60610 $319,523.54
600107590 RICHTER RANDALL 355 FIRST ST ELMHURST IL 60126 $254,620.32
600107591 DU BOSE JAMES 1205 JUDSON AVE EVANSTON IL 60202 $335,487.09
600107593 BODELL TANYA L 1708 P STREET NW WASHINGTON DC 20009 $396,893.22
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107577 MILDENHALL STEPHEN JM 7.625 .250 7.375 .0400 7.335 11/01/2027
600107578 GRIGSBY M TODD 7.250 .250 7.000 .0400 6.960 11/01/2027
600107579 MCCOY JOHN L 7.500 .250 7.250 .0400 7.210 11/01/2027
600107580 CASE CORY F 7.375 .250 7.125 .0400 7.085 11/01/2027
600107582 SCHOLL MICHAEL R 7.500 .250 7.250 .0400 7.210 11/01/2027
600107583 TAYLOR ROB R 7.375 .250 7.125 .0400 7.085 11/01/2027
600107584 GOLDBERG HARRY 7.500 .250 7.250 .0400 7.210 11/01/2027
600107585 HARDY SCOTT 7.375 .250 7.125 .0400 7.085 11/01/2027
600107586 CARROLL MARK S 7.500 .250 7.250 .0400 7.210 11/01/2027
600107587 SUCHSLAND KEVIN M 7.625 .250 7.375 .0400 7.335 11/01/2027
600107588 GUIDOTTI ALESSANDRO 7.500 .250 7.250 .0400 7.210 11/01/2027
600107590 RICHTER RANDALL 7.500 .250 7.250 .0400 7.210 11/01/2027
600107591 DU BOSE JAMES 7.375 .250 7.125 .0400 7.085 11/01/2027
600107593 BODELL TANYA L 7.375 .250 7.125 .0400 7.085 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>
600107577 MILDENHALL STEPHEN JM 1583072452 $1,681.72 01/01/1998 360
600107578 GRIGSBY M TODD 1587088705 $1,664.52 01/01/1998 360
600107579 MCCOY JOHN L 1587090730 $2,202.53 01/01/1998 360
600107580 CASE CORY F 1587091561 $1,890.04 01/01/1998 360
600107582 SCHOLL MICHAEL R 1590057765 $2,223.51 01/01/1998 360
600107583 TAYLOR ROB R 1595061704 $2,298.57 01/01/1998 360
600107584 GOLDBERG HARRY 1595062106 $3,076.55 01/01/1998 360
600107585 HARDY SCOTT 1595062536 $2,641.84 01/01/1998 360
600107586 CARROLL MARK S 1596051976 $2,020.73 01/01/1998 360
600107587 SUCHSLAND KEVIN M 1606085316 $1,698.71 01/01/1998 360
600107588 GUIDOTTI ALESSANDRO 1610005117 $2,237.49 01/01/1998 360
600107590 RICHTER RANDALL 1613024413 $1,783.00 01/01/1998 360
600107591 DU BOSE JAMES 1614016024 $2,320.67 01/01/1998 360
600107593 BODELL TANYA L 1731155404 $2,745.43 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107577 MILDENHALL STEPHEN JM .00 .00 .00 .000 .250 .290 $330,000.00 N
600107578 GRIGSBY M TODD .00 .00 .00 .000 .250 .290 $305,000.00 N
600107579 MCCOY JOHN L .00 .00 .00 .000 .250 .290 $422,000.00 N
600107580 CASE CORY F .00 .00 .00 .000 .250 .290 $342,084.00 N
600107582 SCHOLL MICHAEL R .00 .00 .00 .000 .250 .290 $465,000.00 N
600107583 TAYLOR ROB R .00 .00 .00 .000 .250 .290 $416,025.00 N
600107584 GOLDBERG HARRY .00 .00 .00 .000 .250 .290 $550,000.00 N
600107585 HARDY SCOTT .00 .00 .00 .000 .250 .290 $584,000.00 N
600107586 CARROLL MARK S .00 .00 .00 .000 .250 .290 $389,000.00 N
600107587 SUCHSLAND KEVIN M .00 .00 .00 .000 .250 .290 $311,000.00 N
600107588 GUIDOTTI ALESSANDRO .00 .00 .00 .000 .250 .290 $630,000.00 N
600107590 RICHTER RANDALL .00 .00 .00 .000 .250 .290 $359,284.00 N
600107591 DU BOSE JAMES .00 .00 .00 .000 .250 .290 $420,000.00 N
600107593 BODELL TANYA L .00 .00 .00 .000 .250 .290 $530,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 44
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107594 DIXON JAMES K 2605 LEMONTREE LN VIENNA VA 22181 $275,589.06
600107596 IRELAND ROBERT T 246 KIRKLEY ROAD ANNAPOLIS MD 21401 $444,137.72
600107598 TIMBERLAKE WILLIAM DAV 1720 RIVER COURT VIRGINIA BEACH VA 23454 $275,589.06
600107599 SATTERFIELD ANTHONY R 1680 KINGS LANDING RO HAMPSTEAD NC 28443 $307,515.13
600107600 CHILTON JAMES 13967 DODDER COURT POWAY CA 92064 $397,917.26
600107603 GELLER ANDREW 2270 HUTTON DRIVE BEVERLY HILLS CA 90210 $998,024.24
600107604 HAHN MARK RT 2 BOX 160 PR 4377 DECATUR TX 76234 $246,985.65
600107605 HULL JAMES 5755 S KANAN DUME RD MALIBU CA 90265 $448,991.81
600107607 DIGITALE MELVYN 2530 PADDOCK DRIVE SAN RAMONE CA 94583 $327,318.36
600107610 LOPEZ STEPHEN R 19511 SACRAMENTO LANE HUNTINGTON BEAC CA 92646 $314,328.70
600107611 SCHMIDT CARL 6320 GOLDEN GATE DR YORBA LINDA CA 92886 $291,860.83
600107612 TOISTER DROR 4711 ROSITA PL TARZANA CA 91356 $423,073.49
600107615 MINASIAN ARAM 7571 VISTA RANCHO COU RANCHO SANTA FE CA 92067 $1,317,392.01
600107616 KENT SUSAN 3 MENDEL ROAD COHASSET MA 02025 $249,054.89
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107594 DIXON JAMES K 7.500 .250 7.250 .0400 7.210 11/01/2027
600107596 IRELAND ROBERT T 7.500 .250 7.250 .0400 7.210 11/01/2027
600107598 TIMBERLAKE WILLIAM DAV 7.500 .250 7.250 .0400 7.210 11/01/2027
600107599 SATTERFIELD ANTHONY R 7.625 .250 7.375 .0400 7.335 11/01/2027
600107600 CHILTON JAMES 7.875 .250 7.625 .0400 7.585 10/01/2017
600107603 GELLER ANDREW 8.125 .250 7.875 .0400 7.835 10/01/2027
600107604 HAHN MARK 7.875 .250 7.625 .0400 7.585 10/01/2027
600107605 HULL JAMES 7.500 .250 7.250 .0400 7.210 10/01/2027
600107607 DIGITALE MELVYN 7.875 .250 7.625 .0400 7.585 10/01/2027
600107610 LOPEZ STEPHEN R 7.750 .250 7.500 .0400 7.460 10/01/2027
600107611 SCHMIDT CARL 7.625 .250 7.375 .0400 7.335 10/01/2027
600107612 TOISTER DROR 7.625 .250 7.375 .0400 7.335 10/01/2027
600107615 MINASIAN ARAM 8.125 .250 7.875 .0400 7.835 10/01/2027
600107616 KENT SUSAN 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>
600107594 DIXON JAMES K 1731155925 $1,929.83 01/01/1998 360
600107596 IRELAND ROBERT T 1751107084 $3,110.11 01/01/1998 360
600107598 TIMBERLAKE WILLIAM DAV 1781066882 $1,929.83 01/01/1998 360
600107599 SATTERFIELD ANTHONY R 1841117447 $2,208.32 01/01/1998 360
600107600 CHILTON JAMES 1506363950 $3,314.71 01/01/1998 240
600107603 GELLER ANDREW 1596044471 $7,424.98 01/01/1998 360
600107604 HAHN MARK 1563168286 $1,794.55 01/01/1998 360
600107605 HULL JAMES 1246004072 $3,146.47 01/01/1998 360
600107607 DIGITALE MELVYN 1506294904 $2,378.23 01/01/1998 360
600107610 LOPEZ STEPHEN R 1506337494 $2,256.70 12 01/01/1998 360
600107611 SCHMIDT CARL 1506355598 $2,070.30 1 01/01/1998 360
600107612 TOISTER DROR 1506361251 $3,001.05 01/01/1998 360
600107615 MINASIAN ARAM 1567204111 $9,800.97 01/01/1998 360
600107616 KENT SUSAN 1580060399 $1,940.59 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107594 DIXON JAMES K .00 .00 .00 .000 .250 .290 $345,000.00 N
600107596 IRELAND ROBERT T .00 .00 .00 .000 .250 .290 $556,000.00 N
600107598 TIMBERLAKE WILLIAM DAV .00 .00 .00 .000 .250 .290 $470,000.00 N
600107599 SATTERFIELD ANTHONY R .00 .00 .00 .000 .250 .290 $390,000.00 N
600107600 CHILTON JAMES .00 .00 .00 .000 .250 .290 $580,000.00 N
600107603 GELLER ANDREW .00 .00 .00 .000 .250 .290 $1,450,000.00 N
600107604 HAHN MARK .00 .00 .00 .000 .250 .290 $330,000.00 N
600107605 HULL JAMES .00 .00 .00 .000 .250 .290 $655,000.00 N
600107607 DIGITALE MELVYN .00 .00 .00 .000 .250 .290 $410,000.00 N
600107610 LOPEZ STEPHEN R .00 .00 .00 .000 .250 .290 $350,000.00 N
600107611 SCHMIDT CARL .00 .00 .00 .000 .250 .290 $325,000.00 N
600107612 TOISTER DROR .00 .00 .00 .000 .250 .290 $530,000.00 N
600107615 MINASIAN ARAM .00 .00 .00 .000 .250 .290 $1,650,000.00 N
600107616 KENT SUSAN .00 .00 .00 .000 .250 .290 $333,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 45
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107618 KAEMERLE J PATRICIA 30339 VIA RIVERA RANCHO PALOS VE CA 90275 $249,480.45
600107621 MEADOWCROFT THOMAS A 48851 NORTH VIEW DR PALM DESERT CA 92260 $298,980.40
600107624 HARKNESS LAURENCE P 5338 SPLIT RAIL CENTERVILLE OH 45459 $374,717.73
600107625 FOISY GERALD P 440 SUMMERHILL DR GAINESVILLE GA 30506 $254,365.46
600107626 DUBSKY JAMES A 1464 PEBBLE CREEK RD MARIETTA GA 30067 $306,033.92
600107628 BADER ELIZABETH 6711 EAST CAMELBACK R SCOTTSDALE AZ 85251 $311,351.60
600107634 MYERS GREGORY 2525 CROSS STREET RIVERSIDE CA 92503 $245,381.95
600107635 BROWN JR 101 NOB HILL LN OVILLA TX 75154 $269,030.91
600107639 BEAL RICHARD 43300 DRESSMAKER LANE SOUTH RIDDING VA 20152 $301,787.26
600107651 HATHAWAY JEFFRY LANCE 10585 SOUTH BEUTEL ROA OREGON CITY OR 97045 $238,655.35
600107652 DRESSLER DAVID S 11030 173RD AVENUE SOU RENTON WA 98059 $325,272.37
600107653 DUONG QUAN V 837 HENDERSON AVE SUNNYVALE CA 94086 $346,957.20
600107656 BODDEN MICHAEL P 67 ETTL CR PRINCETON NJ 08540 $314,276.49
600107658 SMITH CHRISTIAN M 35 EDGEWOOD AVENUE LITTLE SILVER NJ 07739 $383,118.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107618 KAEMERLE J PATRICIA 7.875 .250 7.625 .0400 7.585 10/01/2027
600107621 MEADOWCROFT THOMAS A 7.875 .250 7.625 .0400 7.585 10/01/2027
600107624 HARKNESS LAURENCE P 7.875 .250 7.625 .0400 7.585 10/01/2027
600107625 FOISY GERALD P 7.750 .250 7.500 .0400 7.460 10/01/2027
600107626 DUBSKY JAMES A 7.750 .250 7.500 .0400 7.460 10/01/2027
600107628 BADER ELIZABETH 7.875 .250 7.625 .0400 7.585 10/01/2027
600107634 MYERS GREGORY 8.375 .250 8.125 .0400 8.085 09/01/2027
600107635 BROWN JR 7.750 .250 7.500 .0400 7.460 09/01/2027
600107639 BEAL RICHARD 7.750 .250 7.500 .0400 7.460 09/01/2027
600107651 HATHAWAY JEFFRY LANCE 7.375 .250 7.125 .0400 7.085 09/01/2027
600107652 DRESSLER DAVID S 7.500 .250 7.250 .0400 7.210 09/01/2027
600107653 DUONG QUAN V 7.500 .250 7.250 .0400 7.210 09/01/2027
600107656 BODDEN MICHAEL P 7.375 .250 7.125 .0400 7.085 10/01/2027
600107658 SMITH CHRISTIAN M 7.375 .250 7.125 .0400 7.085 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>
600107618 KAEMERLE J PATRICIA 1506355995 $1,812.68 01/01/1998 360
600107621 MEADOWCROFT THOMAS A 1506350029 $2,175.21 01/01/1998 360
600107624 HARKNESS LAURENCE P 1507316762 $2,726.26 01/01/1998 360
600107625 FOISY GERALD P 1511190668 $1,826.85 01/01/1998 360
600107626 DUBSKY JAMES A 1511190883 $2,200.82 01/01/1998 360
600107628 BADER ELIZABETH 1569182585 $2,262.22 01/01/1998 360
600107634 MYERS GREGORY 1506315210 $1,869.78 01/01/1998 360
600107635 BROWN JR 1507246022 $1,932.88 19 01/01/1998 360
600107639 BEAL RICHARD 1507308811 $2,168.22 1 01/01/1998 360
600107651 HATHAWAY JEFFRY LANCE 1513178018 $1,657.62 01/01/1998 360
600107652 DRESSLER DAVID S 1513179702 $2,281.19 01/01/1998 360
600107653 DUONG QUAN V 1513194568 $2,433.27 01/01/1998 360
600107656 BODDEN MICHAEL P 1101221021 $2,175.63 01/01/1998 360
600107658 SMITH CHRISTIAN M 1106067111 $2,652.20 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107618 KAEMERLE J PATRICIA .00 .00 .00 .000 .250 .290 $620,000.00 N
600107621 MEADOWCROFT THOMAS A .00 .00 .00 .000 .250 .290 $420,000.00 N
600107624 HARKNESS LAURENCE P .00 .00 .00 .000 .250 .290 $470,000.00 N
600107625 FOISY GERALD P .00 .00 .00 .000 .250 .290 $320,000.00 N
600107626 DUBSKY JAMES A .00 .00 .00 .000 .250 .290 $384,000.00 N
600107628 BADER ELIZABETH .00 .00 .00 .000 .250 .290 $515,000.00 N
600107634 MYERS GREGORY .00 .00 .00 .000 .250 .290 $307,500.00 N
600107635 BROWN JR .00 .00 .00 .000 .250 .290 $284,000.00 N
600107639 BEAL RICHARD .00 .00 .00 .000 .250 .290 $336,600.00 N
600107651 HATHAWAY JEFFRY LANCE .00 .00 .00 .000 .250 .290 $300,000.00 N
600107652 DRESSLER DAVID S .00 .00 .00 .000 .250 .290 $435,000.00 N
600107653 DUONG QUAN V .00 .00 .00 .000 .250 .290 $435,000.00 N
600107656 BODDEN MICHAEL P .00 .00 .00 .000 .250 .290 $562,950.00 N
600107658 SMITH CHRISTIAN M .00 .00 .00 .000 .250 .290 $480,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 46
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107659 AMBOS JONATHAN J 39 FISHERMANS DRIVE PORT WASHINGTON NY 11050 $330,237.44
600107660 PLOSKY LEWIS 11 HUNTERS LANE ROSLYN NY 11576 $352,787.84
600107662 KLADIAS OREANTHI 111 ANDOVER ROAD ROCKVILLE CENTR NY 11570 $299,310.95
600107665 MOGIELNICKI ALEXANDER 76 HERON STREET LONG BEACH NY 11561 $248,643.09
600107666 CASTANO GREGG 83 OLD KINGS HWY WILTON CT 06897 $244,437.26
600107670 ROBBINS BRIAN D 16 MONMOUTH AVE RUMSON NJ 07760 $352,887.61
600107671 OEHLBERG KURT R 21 CALAIS ROAD MENDHAM NJ 07945 $448,966.42
600107672 ROSS ROBIN E 66 ANGELUS DR GREENWICH CT 06831 $243,738.89
600107675 COMBER JR BERNARD 103 PEREGRINE LN DOWNINGTOWN PA 19335 $267,505.02
600107677 RICCIO JOHN M 10 MILLERS LN NEWTOWN PA 18940 $239,448.77
600107678 GANLEY ROBERT P 16 ROQUEDO RANCHO SANTA MA CA 92688 $251,406.69
600107679 CHOI DOMINIC K 3087 PROMENADE COSTA MESA CA 92626 $238,839.93
600107682 JORDAN RODNEY W 17995 33RD PLACE NORTH PLYMOUTH MN 55447 $281,057.58
600107683 STEIN ARTHUR O 956 REDMOND AVE SAN JOSE CA 95120 $319,351.54
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107659 AMBOS JONATHAN J 7.375 .250 7.125 .0400 7.085 10/01/2027
600107660 PLOSKY LEWIS 7.375 .250 7.125 .0400 7.085 10/01/2027
600107662 KLADIAS OREANTHI 7.375 .250 7.125 .0400 7.085 10/01/2027
600107665 MOGIELNICKI ALEXANDER 7.250 .250 7.000 .0400 6.960 10/01/2027
600107666 CASTANO GREGG 7.375 .250 7.125 .0400 7.085 10/01/2027
600107670 ROBBINS BRIAN D 7.375 .250 7.125 .0400 7.085 10/01/2027
600107671 OEHLBERG KURT R 7.375 .250 7.125 .0400 7.085 10/01/2027
600107672 ROSS ROBIN E 7.375 .250 7.125 .0400 7.085 10/01/2027
600107675 COMBER JR BERNARD 7.250 .250 7.000 .0400 6.960 10/01/2027
600107677 RICCIO JOHN M 7.375 .250 7.125 .0400 7.085 10/01/2027
600107678 GANLEY ROBERT P 7.250 .250 7.000 .0400 6.960 10/01/2027
600107679 CHOI DOMINIC K 7.750 .250 7.500 .0400 7.460 10/01/2027
600107682 JORDAN RODNEY W 8.250 .250 8.000 .0400 7.960 10/01/2027
600107683 STEIN ARTHUR O 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>
600107659 AMBOS JONATHAN J 1106074117 $2,287.52 01/01/1998 360
600107660 PLOSKY LEWIS 1106077658 $2,442.23 01/01/1998 360
600107662 KLADIAS OREANTHI 1106079052 $2,072.03 01/01/1998 360
600107665 MOGIELNICKI ALEXANDER 1106083901 $1,705.45 01/01/1998 360
600107666 CASTANO GREGG 1106085146 $1,692.16 01/01/1998 360
600107670 ROBBINS BRIAN D 1114021615 $2,442.92 01/01/1998 360
600107671 OEHLBERG KURT R 1114022800 $3,108.04 01/01/1998 360
600107672 ROSS ROBIN E 1114704505 $1,687.32 01/01/1998 360
600107675 COMBER JR BERNARD 1171164603 $1,830.62 01/01/1998 360
600107677 RICCIO JOHN M 1175039942 $1,657.62 01/01/1998 360
600107678 GANLEY ROBERT P 1236005374 $1,719.08 12 01/01/1998 360
600107679 CHOI DOMINIC K 1472012515 $1,714.73 01/01/1998 360
600107682 JORDAN RODNEY W 1504171980 $2,115.57 01/01/1998 360
600107683 STEIN ARTHUR O 1506343056 $2,348.05 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107659 AMBOS JONATHAN J .00 .00 .00 .000 .250 .290 $414,000.00 N
600107660 PLOSKY LEWIS .00 .00 .00 .000 .250 .290 $442,000.00 N
600107662 KLADIAS OREANTHI .00 .00 .00 .000 .250 .290 $545,000.00 N
600107665 MOGIELNICKI ALEXANDER .00 .00 .00 .000 .250 .290 $370,000.00 N
600107666 CASTANO GREGG .00 .00 .00 .000 .250 .290 $500,000.00 N
600107670 ROBBINS BRIAN D .00 .00 .00 .000 .250 .290 $450,000.00 N
600107671 OEHLBERG KURT R .00 .00 .00 .000 .250 .290 $585,000.00 N
600107672 ROSS ROBIN E .00 .00 .00 .000 .250 .290 $322,000.00 N
600107675 COMBER JR BERNARD .00 .00 .00 .000 .250 .290 $335,458.00 N
600107677 RICCIO JOHN M .00 .00 .00 .000 .250 .290 $377,405.00 N
600107678 GANLEY ROBERT P .00 .00 .00 .000 .250 .290 $280,000.00 N
600107679 CHOI DOMINIC K .00 .00 .00 .000 .250 .290 $300,000.00 N
600107682 JORDAN RODNEY W .00 .00 .00 .000 .250 .290 $369,000.00 N
600107683 STEIN ARTHUR O .00 .00 .00 .000 .250 .290 $425,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 47
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107685 MERKHOFER JAMES A 1758 BRANDYWINE BLOOMFIELD TWN MI 48304 $287,386.25
600107686 WEDDLE RICKY L 4715 E MARIPOSA ST PHOENIX AZ 85018 $299,376.55
600107687 ELSNER SCOTT L 6486 CHEROKEE RD INDIAN HEAD PAR IL 60525 $264,185.80
600107688 DUELL JR GARY 6055 SW 85TH AVENUE MIAMI FL 33143 $299,327.90
600107689 GRANTHUM OLIN 2600 LUCERNE DR TALLAHASSEE FL 32303 $289,381.97
600107690 ROZEBOOM LOREN C 3870 ST ELIZABETH SQU DULUTH GA 30096 $399,147.56
600107693 O BRIEN DAVID 4205 LONESOME VALLEY AUSTIN TX 78731 $387,579.72
600107696 ALLEN PAUL J 2215 SCHIRM LOOP RD N OLYMPIA WA 98502 $290,824.68
600107697 ANDERSEN DONALD K 606 278TH AVE NE REDMOND WA 98053 $339,238.27
600107699 DILLON PATRICK J 1055 SNIPE CT CARLSBAD CA 92009 $374,737.30
600107700 KAPLAN ANDREW J 4302 N 56TH PL PHOENIX AZ 85018 $423,096.42
600107701 DOWNS DANIEL J 6339 NIWOT RD LONGMONT CO 80503 $246,261.28
600107704 HWANG YUWEN EUGENE 13507 BROADFIELD DR POTOMAC MD 20854 $389,104.22
600107705 LOCKWOOD ROBIN R 18 ALLAMANDA TER KEY WEST FL 33040 $422,696.29
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107685 MERKHOFER JAMES A 7.750 .250 7.500 .0400 7.460 10/01/2027
600107686 WEDDLE RICKY L 7.875 .250 7.625 .0400 7.585 10/01/2027
600107687 ELSNER SCOTT L 7.750 .250 7.500 .0400 7.460 10/01/2027
600107688 DUELL JR GARY 7.500 .250 7.250 .0400 7.210 10/01/2027
600107689 GRANTHUM OLIN 7.750 .250 7.500 .0400 7.460 10/01/2027
600107690 ROZEBOOM LOREN C 7.750 .250 7.500 .0400 7.460 10/01/2027
600107693 O BRIEN DAVID 7.500 .250 7.250 .0400 7.210 10/01/2027
600107696 ALLEN PAUL J 7.375 .250 7.125 .0400 7.085 10/01/2027
600107697 ANDERSEN DONALD K 7.500 .250 7.250 .0400 7.210 10/01/2027
600107699 DILLON PATRICK J 7.375 .250 7.125 .0400 7.085 10/01/2027
600107700 KAPLAN ANDREW J 7.750 .250 7.500 .0400 7.460 10/01/2027
600107701 DOWNS DANIEL J 7.500 .250 7.250 .0400 7.210 10/01/2027
600107704 HWANG YUWEN EUGENE 7.375 .250 7.125 .0400 7.085 10/01/2027
600107705 LOCKWOOD ROBIN R 7.500 .250 7.250 .0400 7.210 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>
600107685 MERKHOFER JAMES A 1507320715 $2,063.27 2 01/01/1998 360
600107686 WEDDLE RICKY L 1507323123 $2,175.21 01/01/1998 360
600107687 ELSNER SCOTT L 1507326530 $1,896.70 01/01/1998 360
600107688 DUELL JR GARY 1511172860 $2,097.64 01/01/1998 360
600107689 GRANTHUM OLIN 1511192051 $2,077.60 01/01/1998 360
600107690 ROZEBOOM LOREN C 1511192313 $2,865.65 01/01/1998 360
600107693 O BRIEN DAVID 1520003794 $2,716.10 01/01/1998 360
600107696 ALLEN PAUL J 1565169392 $2,016.78 01/01/1998 360
600107697 ANDERSEN DONALD K 1565170937 $2,377.33 01/01/1998 360
600107699 DILLON PATRICK J 1567204803 $2,594.18 01/01/1998 360
600107700 KAPLAN ANDREW J 1569179649 $3,037.59 01/01/1998 360
600107701 DOWNS DANIEL J 1579059610 $1,734.06 01/01/1998 360
600107704 HWANG YUWEN EUGENE 1587085285 $2,693.64 01/01/1998 360
600107705 LOCKWOOD ROBIN R 1589127783 $2,964.67 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107685 MERKHOFER JAMES A .00 .00 .00 .000 .250 .290 $320,000.00 N
600107686 WEDDLE RICKY L .00 .00 .00 .000 .250 .290 $470,000.00 N
600107687 ELSNER SCOTT L .00 .00 .00 .000 .250 .290 $375,000.00 N
600107688 DUELL JR GARY .00 .00 .00 .000 .250 .290 $425,000.00 N
600107689 GRANTHUM OLIN .00 .00 .00 .000 .250 .290 $420,000.00 N
600107690 ROZEBOOM LOREN C .00 .00 .00 .000 .250 .290 $620,000.00 N
600107693 O BRIEN DAVID .00 .00 .00 .000 .250 .290 $495,000.00 N
600107696 ALLEN PAUL J .00 .00 .00 .000 .250 .290 $365,000.00 N
600107697 ANDERSEN DONALD K .00 .00 .00 .000 .250 .290 $425,000.00 N
600107699 DILLON PATRICK J .00 .00 .00 .000 .250 .290 $469,548.00 N
600107700 KAPLAN ANDREW J .00 .00 .00 .000 .250 .290 $530,000.00 N
600107701 DOWNS DANIEL J .00 .00 .00 .000 .250 .290 $310,000.00 N
600107704 HWANG YUWEN EUGENE .00 .00 .00 .000 .250 .290 $491,094.00 N
600107705 LOCKWOOD ROBIN R .00 .00 .00 .000 .250 .290 $530,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 48
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107710 SUNDQUIST CARL S 328 ST ANDREWS GURNEE IL 60031 $374,138.70
600107715 PIPE DAVID S 20 JEFFREY LN GREAT NECK NY 11020 $299,358.90
600107717 LOUCAS PAUL G 120 BROOK FARM ROAD POUND RIDGE NY 10576 $384,426.75
600107719 PILCHER SUSAN L 2046 PINE ST SOUTH PASADENA CA 91030 $268,409.66
600107728 HOWLAND VAUGHAN A 1528 LA CORONILLA DRI SANTA BARBARA CA 93109 $299,542.04
600107729 KOLOZSVARI IVAN 409 EAST MEADOW DRIV PALO ALTO CA 94306 $319,535.31
600107731 GARTRELL ALAN D 3600 EAST MILLCREEK R SALT LAKE CITY UT 84109 $349,491.75
600107736 HIRSCHHORN GERRI S 11 MILLS RD MONTEBELLO NY 10901 $261,238.76
600107737 FEINSTEIN ROBERT J 132 BRITE AVE SCARSDALE NY 10583 $436,980.30
600107738 MILLINGER DONALD M 493 TARPON WALK FIRE ISLAND PIN NY 11782 $301,960.87
600107741 WILLIAMS ANNETTE 86 16 108TH ST RICHMOND HILL NY 11418 $293,932.88
600107742 ENCARNACION RENE L 2 STONINGHAM DR WARREN NJ 07059 $390,460.07
600107743 IBRAHIM MAJEED M 52 PIERSON DR BELLE MEAD NJ 08502 $244,678.38
600107744 MURPHY DOLORES M 209 CALLE PALO COLOR SANTA BARBARA CA 93105 $239,608.35
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107710 SUNDQUIST CARL S 7.375 .250 7.125 .0400 7.085 10/01/2027
600107715 PIPE DAVID S 7.625 .250 7.375 .0400 7.335 11/01/2027
600107717 LOUCAS PAUL G 7.500 .250 7.250 .0400 7.210 11/01/2027
600107719 PILCHER SUSAN L 7.625 .250 7.375 .0400 7.335 11/01/2027
600107728 HOWLAND VAUGHAN A 7.375 .250 7.125 .0400 7.085 11/01/2027
600107729 KOLOZSVARI IVAN 7.625 .250 7.375 .0400 7.335 11/01/2027
600107731 GARTRELL ALAN D 7.625 .250 7.375 .0400 7.335 11/01/2027
600107736 HIRSCHHORN GERRI S 7.875 .250 7.625 .0400 7.585 11/01/2027
600107737 FEINSTEIN ROBERT J 7.750 .250 7.500 .0400 7.460 11/01/2027
600107738 MILLINGER DONALD M 7.625 .250 7.375 .0400 7.335 11/01/2027
600107741 WILLIAMS ANNETTE 8.375 .250 8.125 .0400 8.085 11/01/2027
600107742 ENCARNACION RENE L 7.875 .250 7.625 .0400 7.585 11/01/2027
600107743 IBRAHIM MAJEED M 8.125 .250 7.875 .0400 7.835 11/01/2027
600107744 MURPHY DOLORES 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>
600107710 SUNDQUIST CARL S 1614015983 $2,590.03 01/01/1998 360
600107715 PIPE DAVID S 1111138194 $2,123.39 01/01/1998 360
600107717 LOUCAS PAUL G 1115004360 $2,691.98 01/01/1998 360
600107719 PILCHER SUSAN L 1230014372 $1,902.55 01/01/1998 360
600107728 HOWLAND VAUGHAN A 1484010029 $2,072.03 01/01/1998 360
600107729 KOLOZSVARI IVAN 1489009130 $2,264.94 01/01/1998 360
600107731 GARTRELL ALAN D 1497017042 $2,477.28 01/01/1998 360
600107736 HIRSCHHORN GERRI S 1500384800 $1,896.78 01/01/1998 360
600107737 FEINSTEIN ROBERT J 1500385177 $3,135.02 01/01/1998 360
600107738 MILLINGER DONALD M 1500385745 $2,140.37 01/01/1998 360
600107741 WILLIAMS ANNETTE 1500397573 $2,236.89 2 01/01/1998 360
600107742 ENCARNACION RENE L 1500398612 $2,835.02 2 01/01/1998 360
600107743 IBRAHIM MAJEED M 1500399262 $1,819.12 01/01/1998 360
600107744 MURPHY DOLORES M 1504172178 $1,740.17 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107710 SUNDQUIST CARL S .00 .00 .00 .000 .250 .290 $468,750.00 N
600107715 PIPE DAVID S .00 .00 .00 .000 .250 .290 $385,000.00 N
600107717 LOUCAS PAUL G .00 .00 .00 .000 .250 .290 $485,000.00 N
600107719 PILCHER SUSAN L .00 .00 .00 .000 .250 .290 $336,000.00 N
600107728 HOWLAND VAUGHAN A .00 .00 .00 .000 .250 .290 $555,000.00 N
600107729 KOLOZSVARI IVAN .00 .00 .00 .000 .250 .290 $485,000.00 N
600107731 GARTRELL ALAN D .00 .00 .00 .000 .250 .290 $480,000.00 N
600107736 HIRSCHHORN GERRI S .00 .00 .00 .000 .250 .290 $327,000.00 N
600107737 FEINSTEIN ROBERT J .00 .00 .00 .000 .250 .290 $547,000.00 N
600107738 MILLINGER DONALD M .00 .00 .00 .000 .250 .290 $378,000.00 N
600107741 WILLIAMS ANNETTE .00 .00 .00 .000 .250 .290 $327,000.00 N
600107742 ENCARNACION RENE L .00 .00 .00 .000 .250 .290 $460,000.00 N
600107743 IBRAHIM MAJEED M .00 .00 .00 .000 .250 .290 $377,390.00 N
600107744 MURPHY DOLORES M .00 .00 .00 .000 .250 .290 $415,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 49
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107745 MARKS M JAY 2222 AVENUE OF THE ST LOS ANGELES CA 90067 $294,781.95
600107750 SCHAFER MARK CHARLES 23250 CUESTPORT DRIVE SANTA CLARITA CA 91354 $347,494.66
600107751 VAN BUREN KEITH 25 LA FOND LANE ORINDA CA 94563 $242,655.89
600107752 BHATIA R N 5316 WAUPACA RD RANCHO PALOS VE CA 90275 $294,571.62
600107756 BIGGS FAYE N 1452 ALAMEDA DE LAS P SAN MATEO CA 94402 $373,982.86
600107757 FORD TREVOR R 4088 NORMAN CT VACAVILLE CA 95688 $300,405.14
600107758 KIM JOUNG M 11848 MADERA BAY LANE NORTHRIDGE CA 91326 $246,168.10
600107759 JENEST MARK 23704 HATHEWAY DR VALENCIA AREA CA 91354 $252,292.86
600107762 KLEIN ROGER 6750 ALTA VISTA CT WEST BLOOMFIELD MI 48322 $311,569.15
600107764 RIDDELL DANIELLE S 789 N SHADY HOLLOW C BLOOMFIELD MI 48304 $233,427.21
600107765 KULLANDER DENNIS W 10200 EAGLE LANDING CO BURKE VA 22015 $244,217.21
600107766 KIM DANIEL 12870 WILLIAMS MEADOW HERNDON VA 20171 $263,635.43
600107768 RIBBLE JUDITH G 1611 DON GASPER SANTA FE NM 87501 $268,628.53
600107770 MAHONE MICHAEL L 767 GREENWAY DR COPPELL TX 75019 $238,250.40
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107745 MARKS M JAY 7.750 .250 7.500 .0400 7.460 11/01/2027
600107750 SCHAFER MARK CHARLES 7.625 .250 7.375 .0400 7.335 11/01/2027
600107751 VAN BUREN KEITH 7.750 .250 7.500 .0400 7.460 11/01/2027
600107752 BHATIA R N 7.625 .250 7.375 .0400 7.335 11/01/2027
600107756 BIGGS FAYE N 7.875 .250 7.625 .0400 7.585 11/01/2027
600107757 FORD TREVOR R 8.125 .250 7.875 .0400 7.835 11/01/2027
600107758 KIM JOUNG M 8.000 .250 7.750 .0400 7.710 11/01/2027
600107759 JENEST MARK 8.500 .250 8.250 .0400 8.210 11/01/2027
600107762 KLEIN ROGER 7.875 .250 7.625 .0400 7.585 11/01/2027
600107764 RIDDELL DANIELLE S 7.875 .250 7.625 .0400 7.585 11/01/2027
600107765 KULLANDER DENNIS W 7.250 .250 7.000 .0400 6.960 11/01/2027
600107766 KIM DANIEL 7.875 .250 7.625 .0400 7.585 11/01/2027
600107768 RIBBLE JUDITH G 7.875 .250 7.625 .0400 7.585 11/01/2027
600107770 MAHONE MICHAEL L 7.625 .250 7.375 .0400 7.335 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>
600107745 MARKS M JAY 1506341232 $2,114.85 01/01/1998 360
600107750 SCHAFER MARK CHARLES 1506349609 $2,463.12 01/01/1998 360
600107751 VAN BUREN KEITH 1506350765 $1,740.88 12 01/01/1998 360
600107752 BHATIA R N 1506352487 $2,087.99 01/01/1998 360
600107756 BIGGS FAYE N 1506357436 $2,715.38 01/01/1998 360
600107757 FORD TREVOR R 1506357753 $2,233.43 01/01/1998 360
600107758 KIM JOUNG M 1506364045 $1,808.73 01/01/1998 360
600107759 JENEST MARK 1506365660 $1,942.28 12 01/01/1998 360
600107762 KLEIN ROGER 1507321897 $2,262.22 01/01/1998 360
600107764 RIDDELL DANIELLE S 1507328284 $1,694.85 1 01/01/1998 360
600107765 KULLANDER DENNIS W 1507329571 $1,668.61 2 01/01/1998 360
600107766 KIM DANIEL 1507331959 $1,914.19 01/01/1998 360
600107768 RIBBLE JUDITH G 1512176061 $1,950.44 01/01/1998 360
600107770 MAHONE MICHAEL L 1512181243 $1,691.63 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107745 MARKS M JAY .00 .00 .00 .000 .250 .290 $369,000.00 N
600107750 SCHAFER MARK CHARLES .00 .00 .00 .000 .250 .290 $440,000.00 N
600107751 VAN BUREN KEITH .00 .00 .00 .000 .250 .290 $270,000.00 N
600107752 BHATIA R N .00 .00 .00 .000 .250 .290 $445,000.00 N
600107756 BIGGS FAYE N .00 .00 .00 .000 .250 .290 $535,000.00 N
600107757 FORD TREVOR R .00 .00 .00 .000 .250 .290 $376,000.00 N
600107758 KIM JOUNG M .00 .00 .00 .000 .250 .290 $308,196.00 N
600107759 JENEST MARK .00 .00 .00 .000 .250 .290 $265,900.00 N
600107762 KLEIN ROGER .00 .00 .00 .000 .250 .290 $390,000.00 N
600107764 RIDDELL DANIELLE S .00 .00 .00 .000 .250 .290 $275,000.00 N
600107765 KULLANDER DENNIS W .00 .00 .00 .000 .250 .290 $257,500.00 N
600107766 KIM DANIEL .00 .00 .00 .000 .250 .290 $330,000.00 N
600107768 RIBBLE JUDITH G .00 .00 .00 .000 .250 .290 $368,000.00 N
600107770 MAHONE MICHAEL L .00 .00 .00 .000 .250 .290 $310,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 50
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107772 KEITH WILLIAM H 6025 MINK STREET NW OLYMPIA WA 98502 $244,678.38
600107773 VOLLMER ROBERT A 26636 SE 31ST ST ISSAQUAH WA 98029 $324,516.09
600107774 DONAHOE KEVIN J 950 LOWELL AVENUE PARK CITY UT 84060 $251,634.06
600107775 BALBOA MARCELLO L 1565 SOUTH PITKIN AVE SUPERIOR CO 80027 $266,392.71
600107777 DAY JR ARTHUR 6523 50TH AVE NE SEATTLE WA 98115 $289,578.88
600107778 FUNCANNON JOHN J 21704 NORTHEAST 105TH REDMOND WA 98053 $329,577.69
600107779 CLARK RICK 4773 S BRON BRECK ST SALT LAKE CITY UT 84117 $257,634.64
600107782 SWERLAND SCOTT J 6203 SE 30TH STREET MERCER ISLAND WA 98040 $271,605.01
600107783 LEVI GARY L 603 LAKE WILHAGGIN D SACRAMENTO CA 95864 $349,491.75
600107784 BARDO J BARRY 1615 SAN RAFAEL WAY CAMARILLO CA 93012 $418,360.38
600107785 KELKAR KRIS 2274 STACY LANE CAMARILLO CA 93012 $329,508.65
600107787 COLICCHIO DAVID F 1091 VALLEY FORGE DRI SUNNYVALE CA 94087 $234,658.74
600107788 SWITKY ANDREW 767 NASH AVENUE MENLO PARK CA 94025 $323,064.43
600107789 MURRAY JAMES P 5344 ALAN AVENUE SAN JOSE CA 95124 $281,170.12
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107772 KEITH WILLIAM H 8.125 .250 7.875 .0400 7.835 11/01/2027
600107773 VOLLMER ROBERT A 7.500 .250 7.250 .0400 7.210 11/01/2027
600107774 DONAHOE KEVIN J 7.625 .250 7.375 .0400 7.335 11/01/2027
600107775 BALBOA MARCELLO L 7.375 .250 7.125 .0400 7.085 11/01/2027
600107777 DAY JR ARTHUR 7.625 .250 7.375 .0400 7.335 11/01/2027
600107778 FUNCANNON JOHN J 8.250 .250 8.000 .0400 7.960 11/01/2027
600107779 CLARK RICK 7.750 .250 7.500 .0400 7.460 11/01/2027
600107782 SWERLAND SCOTT J 7.625 .250 7.375 .0400 7.335 11/01/2027
600107783 LEVI GARY L 7.625 .250 7.375 .0400 7.335 11/01/2027
600107784 BARDO J BARRY 7.375 .250 7.125 .0400 7.085 11/01/2027
600107785 KELKAR KRIS 7.500 .250 7.250 .0400 7.210 11/01/2027
600107787 COLICCHIO DAVID F 7.625 .250 7.375 .0400 7.335 11/01/2027
600107788 SWITKY ANDREW 8.000 .250 7.750 .0400 7.710 11/01/2027
600107789 MURRAY JAMES P 7.375 .250 7.125 .0400 7.085 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>
600107772 KEITH WILLIAM H 1513184826 $1,819.12 01/01/1998 360
600107773 VOLLMER ROBERT A 1513203024 $2,272.45 01/01/1998 360
600107774 DONAHOE KEVIN J 1513204344 $1,783.64 01/01/1998 360
600107775 BALBOA MARCELLO L 1513205391 $1,842.73 01/01/1998 360
600107777 DAY JR ARTHUR 1513208083 $2,052.60 01/01/1998 360
600107778 FUNCANNON JOHN J 1513208469 $2,479.18 01/01/1998 360
600107779 CLARK RICK 1513210551 $1,848.34 01/01/1998 360
600107782 SWERLAND SCOTT J 1513214031 $1,925.20 01/01/1998 360
600107783 LEVI GARY L 1550010256 $2,477.28 01/01/1998 360
600107784 BARDO J BARRY 1553008750 $2,893.93 01/01/1998 360
600107785 KELKAR KRIS 1553009130 $2,307.41 01/01/1998 360
600107787 COLICCHIO DAVID F 1561372510 $1,663.32 01/01/1998 360
600107788 SWITKY ANDREW 1561372769 $2,373.73 01/01/1998 360
600107789 MURRAY JAMES P 1561373364 $1,944.95 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107772 KEITH WILLIAM H .00 .00 .00 .000 .250 .290 $425,000.00 N
600107773 VOLLMER ROBERT A .00 .00 .00 .000 .250 .290 $410,000.00 N
600107774 DONAHOE KEVIN J .00 .00 .00 .000 .250 .290 $315,000.00 N
600107775 BALBOA MARCELLO L .00 .00 .00 .000 .250 .290 $333,500.00 N
600107777 DAY JR ARTHUR .00 .00 .00 .000 .250 .290 $380,000.00 N
600107778 FUNCANNON JOHN J .00 .00 .00 .000 .250 .290 $480,000.00 N
600107779 CLARK RICK .00 .00 .00 .000 .250 .290 $358,000.00 N
600107782 SWERLAND SCOTT J .00 .00 .00 .000 .250 .290 $340,000.00 N
600107783 LEVI GARY L .00 .00 .00 .000 .250 .290 $635,000.00 N
600107784 BARDO J BARRY .00 .00 .00 .000 .250 .290 $530,000.00 N
600107785 KELKAR KRIS .00 .00 .00 .000 .250 .290 $415,000.00 N
600107787 COLICCHIO DAVID F .00 .00 .00 .000 .250 .290 $430,000.00 N
600107788 SWITKY ANDREW .00 .00 .00 .000 .250 .290 $430,000.00 N
600107789 MURRAY JAMES P .00 .00 .00 .000 .250 .290 $352,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 51
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107790 ERICKSON MARK R 2703 SOUTH COURT PALO ALTO CA 94306 $399,374.03
600107791 HERRERA MARGARITA G 1083 GOLDEN ACRES COU SAN JOSE CA 95136 $318,559.48
600107792 CARSTENS LORI A 1540 PEREZ DR PACIFICA CA 94044 $374,468.94
600107793 SKIBO THOMAS 277 COLLEGE AVENUE PALO ALTO CA 94306 $291,586.47
600107794 SEMENIUK GEORGE BORIS 725 BOONEWOOD COURT SAN JOSE CA 95120 $275,628.37
600107796 PETRERA JR JOHN 1307 CERRO VERDE SAN JOSE CA 95120 $371,473.18
600107797 MC DONALD PATRICK 2807 NORBURT LANE SAN CARLOS CA 94070 $259,603.10
600107798 FOULGER BRADLEY T 825 VAL VISTA WAY AUBURN CA 95603 $269,607.91
600107799 HODESS BRETT 5 GLEN ALPINE ROAD PIEDMONT CA 94611 $998,583.85
600107800 GUTIERREZ RAYMOND 72 AYAMONTE COURT SAN RAMON CA 94583 $252,540.27
600107801 KRATEN KEITH A 2720 MIRA BELLA CIRCL MORGAN HILL CA 95037 $304,568.07
600107802 STOUT ROBERT T 3611 VIREO AVENUE SANTA CLARA CA 95051 $391,485.42
600107803 WONG DOUGLAS K 604 FAWN RIDGE COURT SAN RAMON CA 94583 $341,464.79
600107804 JEW DANTON JUNELIM 1070 HATTERAS COURT FOSTER CITY CA 94404 $299,542.04
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107790 ERICKSON MARK R 7.250 .250 7.000 .0400 6.960 11/01/2027
600107791 HERRERA MARGARITA G 7.875 .250 7.625 .0400 7.585 11/01/2027
600107792 CARSTENS LORI A 7.750 .250 7.500 .0400 7.460 11/01/2027
600107793 SKIBO THOMAS 7.750 .250 7.500 .0400 7.460 11/01/2027
600107794 SEMENIUK GEORGE BORIS 8.000 .250 7.750 .0400 7.710 11/01/2027
600107796 PETRERA JR JOHN 7.750 .250 7.500 .0400 7.460 11/01/2027
600107797 MC DONALD PATRICK 7.375 .250 7.125 .0400 7.085 11/01/2027
600107798 FOULGER BRADLEY T 7.625 .250 7.375 .0400 7.335 11/01/2027
600107799 HODESS BRETT 7.750 .250 7.500 .0400 7.460 11/01/2027
600107800 GUTIERREZ RAYMOND 7.875 .250 7.625 .0400 7.585 11/01/2027
600107801 KRATEN KEITH A 7.750 .250 7.500 .0400 7.460 11/01/2027
600107802 STOUT ROBERT T 8.125 .250 7.875 .0400 7.835 11/01/2027
600107803 WONG DOUGLAS K 7.250 .250 7.000 .0400 6.960 11/01/2027
600107804 JEW DANTON JUNELIM 7.375 .250 7.125 .0400 7.085 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>
600107790 ERICKSON MARK R 1561374538 $2,728.71 01/01/1998 360
600107791 HERRERA MARGARITA G 1561374651 $2,312.98 01/01/1998 360
600107792 CARSTENS LORI A 1561374720 $2,686.55 01/01/1998 360
600107793 SKIBO THOMAS 1561374731 $2,091.93 01/01/1998 360
600107794 SEMENIUK GEORGE BORIS 1561374797 $2,025.20 01/01/1998 360
600107796 PETRERA JR JOHN 1561374833 $2,665.06 01/01/1998 360
600107797 MC DONALD PATRICK 1561374866 $1,795.76 01/01/1998 360
600107798 FOULGER BRADLEY T 1561374899 $1,911.05 01/01/1998 360
600107799 HODESS BRETT 1561374979 $7,164.13 01/01/1998 360
600107800 GUTIERREZ RAYMOND 1561375133 $1,834.43 2 01/01/1998 360
600107801 KRATEN KEITH A 1561375188 $2,185.06 01/01/1998 360
600107802 STOUT ROBERT T 1561375224 $2,910.59 01/01/1998 360
600107803 WONG DOUGLAS K 1561375520 $2,333.05 01/01/1998 360
600107804 JEW DANTON JUNELIM 1561375847 $2,072.03 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107790 ERICKSON MARK R .00 .00 .00 .000 .250 .290 $580,000.00 N
600107791 HERRERA MARGARITA G .00 .00 .00 .000 .250 .290 $399,000.00 N
600107792 CARSTENS LORI A .00 .00 .00 .000 .250 .290 $595,000.00 N
600107793 SKIBO THOMAS .00 .00 .00 .000 .250 .290 $367,000.00 N
600107794 SEMENIUK GEORGE BORIS .00 .00 .00 .000 .250 .290 $400,000.00 N
600107796 PETRERA JR JOHN .00 .00 .00 .000 .250 .290 $475,000.00 N
600107797 MC DONALD PATRICK .00 .00 .00 .000 .250 .290 $535,000.00 N
600107798 FOULGER BRADLEY T .00 .00 .00 .000 .250 .290 $345,000.00 N
600107799 HODESS BRETT .00 .00 .00 .000 .250 .290 $2,143,500.00 N
600107800 GUTIERREZ RAYMOND .00 .00 .00 .000 .250 .290 $297,000.00 N
600107801 KRATEN KEITH A .00 .00 .00 .000 .250 .290 $429,500.00 N
600107802 STOUT ROBERT T .00 .00 .00 .000 .250 .290 $537,500.00 N
600107803 WONG DOUGLAS K .00 .00 .00 .000 .250 .290 $527,000.00 N
600107804 JEW DANTON JUNELIM .00 .00 .00 .000 .250 .290 $425,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 52
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107805 SMITH BARRY RAY 23221 SUMMIT ROAD LOS GATOS CA 95030 $373,470.35
600107806 NORDGREN JON 18641 CLEMENT DRIVE CASTRO VALLEY CA 94552 $249,636.95
600107807 ACOSTA ALLAN R 5703 ROTTERDAM LANE SAN JOSE CA 95118 $233,668.61
600107808 ABLER MICHAEL W 1384 MARTIN AVENUE SAN JOSE CA 95126 $258,842.07
600107809 ROBINSON PATRICK JOHN 822 FIFE WAY SUNNYVALE CA 94087 $259,649.92
600107810 GATES DAVID L 1008 APOLLO WAY INCLINE VILLAGE NV 89451 $293,573.05
600107811 WHELAN KATHLEEN S 3820 DONNER STREET SAN MATEO CA 94403 $271,605.01
600107813 DEBONI THOMAS M 350 ELYSIAN FIELDS D OAKLAND CA 94605 $239,660.13
600107814 APEL GREGORY L 4507 AMBLE OAK COURT HOUSTON TX 77059 $349,504.34
600107818 SYRIOS WILLIAM L 2110 E 17TH AVE EUGENE OR 97403 $286,772.37
600107819 NELSON DAVID C 6039 HAZELWOOD LANE S BELLEVUE WA 98006 $319,523.54
600107821 CLARK PAUL M 20806 NE 237TH AVE BATTLE GROUND WA 98604 $251,624.77
600107822 CRAWFORD MARK H 3110 W LAKE SAMMAMISH BELLEVUE WA 98008 $284,586.13
600107825 MARSHALL STEVEN G 753 VININGS ESTATES SMYRNA GA 30059 $339,493.76
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107805 SMITH BARRY RAY 7.750 .250 7.500 .0400 7.460 11/01/2027
600107806 NORDGREN JON 7.625 .250 7.375 .0400 7.335 11/01/2027
600107807 ACOSTA ALLAN R 7.750 .250 7.500 .0400 7.460 11/01/2027
600107808 ABLER MICHAEL W 7.875 .250 7.625 .0400 7.585 11/01/2027
600107809 ROBINSON PATRICK JOHN 8.000 .250 7.750 .0400 7.710 11/01/2027
600107810 GATES DAVID L 7.625 .250 7.375 .0400 7.335 11/01/2027
600107811 WHELAN KATHLEEN S 7.625 .250 7.375 .0400 7.335 11/01/2027
600107813 DEBONI THOMAS M 7.750 .250 7.500 .0400 7.460 11/01/2027
600107814 APEL GREGORY L 7.750 .250 7.500 .0400 7.460 11/01/2027
600107818 SYRIOS WILLIAM L 7.500 .250 7.250 .0400 7.210 11/01/2027
600107819 NELSON DAVID C 7.500 .250 7.250 .0400 7.210 11/01/2027
600107821 CLARK PAUL M 7.500 .250 7.250 .0400 7.210 11/01/2027
600107822 CRAWFORD MARK H 7.625 .250 7.375 .0400 7.335 11/01/2027
600107825 MARSHALL STEVEN G 7.500 .250 7.250 .0400 7.210 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>
600107805 SMITH BARRY RAY 1561376726 $2,679.39 01/01/1998 360
600107806 NORDGREN JON 1561376737 $1,769.49 01/01/1998 360
600107807 ACOSTA ALLAN R 1561376872 $1,676.41 01/01/1998 360
600107808 ABLER MICHAEL W 1561377037 $1,879.38 01/01/1998 360
600107809 ROBINSON PATRICK JOHN 1561377048 $1,907.79 01/01/1998 360
600107810 GATES DAVID L 1561377172 $2,080.92 01/01/1998 360
600107811 WHELAN KATHLEEN S 1561377536 $1,925.20 01/01/1998 360
600107813 DEBONI THOMAS M 1561378368 $1,719.39 01/01/1998 360
600107814 APEL GREGORY L 1563170890 $2,507.45 01/01/1998 360
600107818 SYRIOS WILLIAM L 1565163170 $2,008.15 01/01/1998 360
600107819 NELSON DAVID C 1565174734 $2,237.49 01/01/1998 360
600107821 CLARK PAUL M 1565175602 $1,762.03 01/01/1998 360
600107822 CRAWFORD MARK H 1565176161 $2,017.22 01/01/1998 360
600107825 MARSHALL STEVEN G 1566112324 $2,377.33 12 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107805 SMITH BARRY RAY .00 .00 .00 .000 .250 .290 $467,500.00 N
600107806 NORDGREN JON .00 .00 .00 .000 .250 .290 $360,000.00 N
600107807 ACOSTA ALLAN R .00 .00 .00 .000 .250 .290 $312,000.00 N
600107808 ABLER MICHAEL W .00 .00 .00 .000 .250 .290 $324,000.00 N
600107809 ROBINSON PATRICK JOHN .00 .00 .00 .000 .250 .290 $387,000.00 N
600107810 GATES DAVID L .00 .00 .00 .000 .250 .290 $420,000.00 N
600107811 WHELAN KATHLEEN S .00 .00 .00 .000 .250 .290 $360,000.00 N
600107813 DEBONI THOMAS M .00 .00 .00 .000 .250 .290 $300,000.00 N
600107814 APEL GREGORY L .00 .00 .00 .000 .250 .290 $530,000.00 N
600107818 SYRIOS WILLIAM L .00 .00 .00 .000 .250 .290 $359,000.00 N
600107819 NELSON DAVID C .00 .00 .00 .000 .250 .290 $500,000.00 N
600107821 CLARK PAUL M .00 .00 .00 .000 .250 .290 $315,000.00 N
600107822 CRAWFORD MARK H .00 .00 .00 .000 .250 .290 $395,000.00 N
600107825 MARSHALL STEVEN G .00 .00 .00 .000 .250 .290 $401,174.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 53
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107828 MOORE DOUGLAS A 2488 MUIRFIELD WAY BIG CANOE GA 30143 $256,526.93
600107830 DACOSTA DAVID N 1431 ARBOR COURT ENCINITAS CA 92024 $323,729.21
600107831 FORSTER DONALD W 3404 CROWN POINT DRIV SAN DIEGO CA 92109 $449,346.53
600107833 TREACCAR THOMAS H 9810 EAST DESERT COVE SCOTTSDALE AZ 85260 $299,575.15
600107834 WESTFALL BRIAN T 37217 NORTH LAZY BURRO CAREFREE AZ 85331 $274,600.65
600107836 ROCK RICHARD T 4035 EAST VIA MONTOYA PHOENIX AZ 85024 $236,347.56
600107837 MOLL ROBERT F 9213 NORTH ROCKNE ROA SCOTTSDALE AZ 85258 $234,650.09
600107839 MCGINNIS KENNETH H MICHAEL COURT CHESNEE SC 29323 $335,524.17
600107843 GOUIN DEAN M 3728 CAYMAN PL BOULDER CO 80301 $287,592.15
600107845 COCKRIEL CHARLES T 6431 S JAMAICA CIR ENGLEWOOD CO 80111 $291,554.24
600107847 SORENSON C THOMAS 4 WHITE OAK DR LITTLETON CO 80127 $291,565.23
600107851 SIEGAL JEFFREY S 124 SYCOMORE DRIVE WESTWOOD MA 02090 $235,149.34
600107853 JACOBS WENDY B 2 CHAUNCY LANE CAMBRIDGE MA 02138 $259,622.43
600107854 NANNERY WILLIAM M 40 ABBEY LANE CANTON MA 02021 $285,594.98
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107828 MOORE DOUGLAS A 7.625 .250 7.375 .0400 7.335 11/01/2027
600107830 DACOSTA DAVID N 7.625 .250 7.375 .0400 7.335 11/01/2027
600107831 FORSTER DONALD W 7.625 .250 7.375 .0400 7.335 11/01/2027
600107833 TREACCAR THOMAS H 7.750 .250 7.500 .0400 7.460 11/01/2027
600107834 WESTFALL BRIAN T 7.625 .250 7.375 .0400 7.335 11/01/2027
600107836 ROCK RICHARD T 7.500 .250 7.250 .0400 7.210 11/01/2027
600107837 MOLL ROBERT F 7.500 .250 7.250 .0400 7.210 11/01/2027
600107839 MCGINNIS KENNETH H 7.750 .250 7.500 .0400 7.460 11/01/2027
600107843 GOUIN DEAN M 7.750 .250 7.500 .0400 7.460 11/01/2027
600107845 COCKRIEL CHARLES T 7.375 .250 7.125 .0400 7.085 11/01/2027
600107847 SORENSON C THOMAS 7.500 .250 7.250 .0400 7.210 11/01/2027
600107851 SIEGAL JEFFREY S 7.500 .250 7.250 .0400 7.210 11/01/2027
600107853 JACOBS WENDY B 7.625 .250 7.375 .0400 7.335 11/01/2027
600107854 NANNERY WILLIAM M 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>
600107828 MOORE DOUGLAS A 1566113327 $1,818.33 01/01/1998 360
600107830 DACOSTA DAVID N 1567205420 $2,294.67 01/01/1998 360
600107831 FORSTER DONALD W 1567207266 $3,185.08 01/01/1998 360
600107833 TREACCAR THOMAS H 1569183908 $2,149.24 01/01/1998 360
600107834 WESTFALL BRIAN T 1569183941 $1,946.44 01/01/1998 360
600107836 ROCK RICHARD T 1569185335 $1,655.05 12 01/01/1998 360
600107837 MOLL ROBERT F 1569185426 $1,643.16 01/01/1998 360
600107839 MCGINNIS KENNETH H 1577097197 $2,407.15 01/01/1998 360
600107843 GOUIN DEAN M 1579063505 $2,063.27 01/01/1998 360
600107845 COCKRIEL CHARLES T 1579063582 $2,016.78 1 01/01/1998 360
600107847 SORENSON C THOMAS 1579064596 $2,041.71 01/01/1998 360
600107851 SIEGAL JEFFREY S 1580065508 $1,646.66 01/01/1998 360
600107853 JACOBS WENDY B 1580065585 $1,840.27 01/01/1998 360
600107854 NANNERY WILLIAM M 1580065600 $2,048.94 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107828 MOORE DOUGLAS A .00 .00 .00 .000 .250 .290 $367,000.00 N
600107830 DACOSTA DAVID N .00 .00 .00 .000 .250 .290 $405,307.00 N
600107831 FORSTER DONALD W .00 .00 .00 .000 .250 .290 $600,000.00 N
600107833 TREACCAR THOMAS H .00 .00 .00 .000 .250 .290 $375,000.00 N
600107834 WESTFALL BRIAN T .00 .00 .00 .000 .250 .290 $450,000.00 N
600107836 ROCK RICHARD T .00 .00 .00 .000 .250 .290 $263,000.00 N
600107837 MOLL ROBERT F .00 .00 .00 .000 .250 .290 $320,000.00 N
600107839 MCGINNIS KENNETH H .00 .00 .00 .000 .250 .290 $420,000.00 N
600107843 GOUIN DEAN M .00 .00 .00 .000 .250 .290 $360,000.00 N
600107845 COCKRIEL CHARLES T .00 .00 .00 .000 .250 .290 $347,000.00 N
600107847 SORENSON C THOMAS .00 .00 .00 .000 .250 .290 $375,000.00 N
600107851 SIEGAL JEFFREY S .00 .00 .00 .000 .250 .290 $345,000.00 N
600107853 JACOBS WENDY B .00 .00 .00 .000 .250 .290 $435,000.00 N
600107854 NANNERY WILLIAM M .00 .00 .00 .000 .250 .290 $370,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 54
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107855 SHEEHAN MAURA J 25 ADAMS STREET LEXINGTON MA 02173 $349,516.66
600107856 COLEMAN DANIEL E 8 WHITTIER PLACE U BOSTON MA 02114 $237,321.82
600107857 DAVIS ROY M 11 AMELIA DRIVE NANTUCKET MA 02554 $402,443.50
600107859 HATEM PAULA J 3 BUTTERNUT PLACE WILTON CT 06897 $249,536.96
600107860 ROBERTS BARBARA H 312 LAUREL AVENUE PROVIDENCE RI 02906 $374,507.72
600107861 MEUSE ROBERT F 68 SEAFLOWER LANE MARSHFIELD MA 02050 $235,674.09
600107863 BOCHENEK ANDRZEJ 2176 SOUTH SHORE COUR ROCHESTER HILLS MI 48037 $292,116.02
600107868 BILLINGTON PAUL R 25880 WEST 104TH TOM OLATHE KS 66061 $252,432.90
600107869 EARLL MARLENE L 720 STONEWOOD ROAD EAGAN MN 55123 $272,583.25
600107870 TASSI JOSEPH A 20676 WALLINGFORD LANE BARRINGTON IL 60010 $349,478.86
600107872 NAIMON JEFFREY P 7510 BYBROOK LANE CHEVY CHASE MD 20815 $329,496.25
600107873 BROOKS RONALD S 13100 FARMSTED COURT HERNDON VA 22071 $251,660.69
600107874 BORZELLINO PAUL A 6053 GENERAL HUDSON R BROAD RUN VA 20137 $282,578.63
600107881 TOUCHARD CHARLES ANTOI 19346 MAIDSTONE LANE HUNTINGTON BEAC CA 92648 $262,137.51
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107855 SHEEHAN MAURA J 7.875 .250 7.625 .0400 7.585 11/01/2027
600107856 COLEMAN DANIEL E 7.875 .250 7.625 .0400 7.585 11/01/2027
600107857 DAVIS ROY M 7.875 .250 7.625 .0400 7.585 11/01/2027
600107859 HATEM PAULA J 7.625 .250 7.375 .0400 7.335 11/01/2027
600107860 ROBERTS BARBARA H 8.125 .250 7.875 .0400 7.835 11/01/2027
600107861 MEUSE ROBERT F 7.875 .250 7.625 .0400 7.585 11/01/2027
600107863 BOCHENEK ANDRZEJ 8.125 .250 7.875 .0400 7.835 11/01/2027
600107868 BILLINGTON PAUL R 7.625 .250 7.375 .0400 7.335 11/01/2027
600107869 EARLL MARLENE L 7.375 .250 7.125 .0400 7.085 11/01/2027
600107870 TASSI JOSEPH A 7.500 .250 7.250 .0400 7.210 11/01/2027
600107872 NAIMON JEFFREY P 7.375 .250 7.125 .0400 7.085 11/01/2027
600107873 BROOKS RONALD S 8.000 .250 7.750 .0400 7.710 11/01/2027
600107874 BORZELLINO PAUL A 7.500 .250 7.250 .0400 7.210 11/01/2027
600107881 TOUCHARD CHARLES ANTOI 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>
600107855 SHEEHAN MAURA J 1580065698 $2,537.75 01/01/1998 360
600107856 COLEMAN DANIEL E 1580066001 $1,723.13 01/01/1998 360
600107857 DAVIS ROY M 1580066023 $2,922.03 01/01/1998 360
600107859 HATEM PAULA J 1580066180 $1,769.49 01/01/1998 360
600107860 ROBERTS BARBARA H 1580066373 $2,784.37 01/01/1998 360
600107861 MEUSE ROBERT F 1580066920 $1,711.17 01/01/1998 360
600107863 BOCHENEK ANDRZEJ 1581133614 $2,171.81 01/01/1998 360
600107868 BILLINGTON PAUL R 1583070333 $1,789.30 01/01/1998 360
600107869 EARLL MARLENE L 1583071493 $1,885.55 1 01/01/1998 360
600107870 TASSI JOSEPH A 1583071610 $2,447.26 01/01/1998 360
600107872 NAIMON JEFFREY P 1587088341 $2,279.23 01/01/1998 360
600107873 BROOKS RONALD S 1587088534 $1,849.09 01/01/1998 360
600107874 BORZELLINO PAUL A 1587089107 $1,978.78 2 01/01/1998 360
600107881 TOUCHARD CHARLES ANTOI 1595060202 $1,903.31 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107855 SHEEHAN MAURA J .00 .00 .00 .000 .250 .290 $611,000.00 N
600107856 COLEMAN DANIEL E .00 .00 .00 .000 .250 .290 $305,000.00 N
600107857 DAVIS ROY M .00 .00 .00 .000 .250 .290 $555,000.00 N
600107859 HATEM PAULA J .00 .00 .00 .000 .250 .290 $385,000.00 N
600107860 ROBERTS BARBARA H .00 .00 .00 .000 .250 .290 $500,000.00 N
600107861 MEUSE ROBERT F .00 .00 .00 .000 .250 .290 $295,000.00 N
600107863 BOCHENEK ANDRZEJ .00 .00 .00 .000 .250 .290 $450,000.00 N
600107868 BILLINGTON PAUL R .00 .00 .00 .000 .250 .290 $316,014.00 N
600107869 EARLL MARLENE L .00 .00 .00 .000 .250 .290 $330,000.00 N
600107870 TASSI JOSEPH A .00 .00 .00 .000 .250 .290 $466,000.00 N
600107872 NAIMON JEFFREY P .00 .00 .00 .000 .250 .290 $420,000.00 N
600107873 BROOKS RONALD S .00 .00 .00 .000 .250 .290 $320,000.00 N
600107874 BORZELLINO PAUL A .00 .00 .00 .000 .250 .290 $335,000.00 N
600107881 TOUCHARD CHARLES ANTOI .00 .00 .00 .000 .250 .290 $350,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 55
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107884 BAKER ATANAS C 1026 POPPY CIRCLE COSTA MESA CA 92626 $253,612.25
600107885 SANTY JOHN E 619 21ST STREET HUNTINGTON BEAC CA 92648 $319,147.39
600107887 MANKER WILLIAM J 10102 MEREDITH DRIVE HUNTINGTON BEAC CA 92646 $277,806.03
600107888 MUNJAL ASHOK K 4222 MESA STREET TORRANCE CA 90505 $359,477.22
600107889 MILLER DOUGLAS S 113 22ND STREET HUNTINGTON BEAC CA 92648 $302,570.90
600107890 DELEO LEONARD 29108 WARNICK ROAD RANCHO PALOS VE CA 90275 $339,506.27
600107891 MARLOW STEPHEN D 4 WINCHESTER IRVINE CA 92620 $319,558.09
600107892 FLORES SORIANO ANA 6171 WESTBRIDGE AVENU WESTMINSTER CA 92683 $281,640.41
600107893 TEMPKIN JERRY M 2343 GILLINGHAM CIRCL THOUSAND OAKS CA 91362 $254,620.32
600107896 WHITTAKER ROBERT W 23870 WASHINGTON AVENU MURRIETA CA 92562 $324,528.05
600107897 WILCZEK JAMES M 5 PACIFIC CREST LAGUNA NIGUEL CA 92677 $371,432.12
600107898 HOGAN JAMES B 2855 CHATEAU WAY LAGUNA BEACH CA 92651 $371,748.79
600107900 LEW TERRI ANN 17737 PORTO MARINA WAY PACIFIC PALISAD CA 90272 $239,660.13
600107902 NEIDORF MICHAEL ALAN 5515 CALVIN AVENUE TARZANA CA 91356 $399,433.54
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107884 BAKER ATANAS C 7.375 .250 7.125 .0400 7.085 11/01/2027
600107885 SANTY JOHN E 7.750 .250 7.500 .0400 7.460 11/01/2027
600107887 MANKER WILLIAM J 7.750 .250 7.500 .0400 7.460 11/01/2027
600107888 MUNJAL ASHOK K 7.625 .250 7.375 .0400 7.335 11/01/2027
600107889 MILLER DOUGLAS S 7.750 .250 7.500 .0400 7.460 11/01/2027
600107890 DELEO LEONARD 7.625 .250 7.375 .0400 7.335 11/01/2027
600107891 MARLOW STEPHEN D 7.875 .250 7.625 .0400 7.585 11/01/2027
600107892 FLORES SORIANO ANA 7.625 .250 7.375 .0400 7.335 11/01/2027
600107893 TEMPKIN JERRY M 7.500 .250 7.250 .0400 7.210 11/01/2027
600107896 WHITTAKER ROBERT W 7.625 .250 7.375 .0400 7.335 11/01/2027
600107897 WILCZEK JAMES M 7.375 .250 7.125 .0400 7.085 11/01/2027
600107898 HOGAN JAMES B 8.000 .250 7.750 .0400 7.710 11/01/2027
600107900 LEW TERRI ANN 7.750 .250 7.500 .0400 7.460 11/01/2027
600107902 NEIDORF MICHAEL ALAN 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>
600107884 BAKER ATANAS C 1595061045 $1,754.32 01/01/1998 360
600107885 SANTY JOHN E 1595061103 $2,289.66 01/01/1998 360
600107887 MANKER WILLIAM J 1595061260 $1,993.06 14 01/01/1998 360
600107888 MUNJAL ASHOK K 1595061271 $2,548.06 01/01/1998 360
600107889 MILLER DOUGLAS S 1595061330 $2,170.73 01/01/1998 360
600107890 DELEO LEONARD 1595061373 $2,406.50 01/01/1998 360
600107891 MARLOW STEPHEN D 1595061410 $2,320.23 12 01/01/1998 360
600107892 FLORES SORIANO ANA 1595061464 $1,996.34 14 01/01/1998 360
600107893 TEMPKIN JERRY M 1595061566 $1,783.00 01/01/1998 360
600107896 WHITTAKER ROBERT W 1595062172 $2,300.33 01/01/1998 360
600107897 WILCZEK JAMES M 1595062718 $2,569.32 01/01/1998 360
600107898 HOGAN JAMES B 1595063969 $2,731.44 01/01/1998 360
600107900 LEW TERRI ANN 1596047403 $1,719.39 01/01/1998 360
600107902 NEIDORF MICHAEL ALAN 1596048643 $2,865.65 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107884 BAKER ATANAS C .00 .00 .00 .000 .250 .290 $320,000.00 N
600107885 SANTY JOHN E .00 .00 .00 .000 .250 .290 $410,000.00 N
600107887 MANKER WILLIAM J .00 .00 .00 .000 .250 .290 $335,000.00 N
600107888 MUNJAL ASHOK K .00 .00 .00 .000 .250 .290 $450,000.00 N
600107889 MILLER DOUGLAS S .00 .00 .00 .000 .250 .290 $410,000.00 N
600107890 DELEO LEONARD .00 .00 .00 .000 .250 .290 $425,000.00 N
600107891 MARLOW STEPHEN D .00 .00 .00 .000 .250 .290 $370,000.00 N
600107892 FLORES SORIANO ANA .00 .00 .00 .000 .250 .290 $296,900.00 N
600107893 TEMPKIN JERRY M .00 .00 .00 .000 .250 .290 $325,000.00 N
600107896 WHITTAKER ROBERT W .00 .00 .00 .000 .250 .290 $435,000.00 N
600107897 WILCZEK JAMES M .00 .00 .00 .000 .250 .290 $465,000.00 N
600107898 HOGAN JAMES B .00 .00 .00 .000 .250 .290 $561,000.00 N
600107900 LEW TERRI ANN .00 .00 .00 .000 .250 .290 $460,000.00 N
600107902 NEIDORF MICHAEL ALAN .00 .00 .00 .000 .250 .290 $700,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 56
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107903 HELD ROBERT D 300 21ST PLACE SANTA MONICA CA 90402 $333,003.43
600107906 CASARES ROBERT A 6852 TURF DRIVE HUNTINGTON BEAC CA 92648 $449,346.53
600107907 BLUME JEFFERY ALAN 4083 DEERVALE DRIVE SHERMAN OAKS CA 91403 $256,866.97
600107908 FOX KAREN P 1709 SOUTH DURANGO AV LOS ANGELES CA 90035 $263,097.76
600107909 STERN ADRIAN BRADLEY 5754 MIDDLE CREST DRI AGOURA HILLS CA 91301 $385,938.74
600107910 ZIMMERMAN DAN 8732 SHOREHAM DRIVE WEST HOLLYWOOD CA 90069 $366,992.50
600107912 WALKER DONALD L 2525 SCHOOL STREET SOLVANG CA 93463 $399,347.26
600107913 MIRZAYAN ARA 3141 GRANGEMONT ROAD GLENDALE CA 91206 $254,629.69
600107914 MC CRACKEN ROBERT 5035 AMBROSE AVENUE LOS ANGELES CA 90027 $249,654.77
600107915 NOGUCHI STEVE H 2522 WEST 232ND STREE TORRANCE CA 90505 $307,373.36
600107918 SCHNEIDER LARS 655 VIA SANTA YNEZ PACIFIC PALISAD CA 90272 $439,361.04
600107919 DOMINO JAMES J 2408 FREY AVE VENICE CA 90291 $275,109.85
600107920 DAMAN ARTHUR C 1535 FILAREE WAY ARROYO GRANDE CA 93420 $338,020.63
600107921 MARDIROSSIAN ALEC 659 ROBIN GLEN DRIVE GLENDALE CA 91202 $370,660.95
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107903 HELD ROBERT D 7.500 .250 7.250 .0400 7.210 11/01/2027
600107906 CASARES ROBERT A 7.625 .250 7.375 .0400 7.335 11/01/2027
600107907 BLUME JEFFERY ALAN 7.500 .250 7.250 .0400 7.210 11/01/2027
600107908 FOX KAREN P 7.375 .250 7.125 .0400 7.085 11/01/2027
600107909 STERN ADRIAN BRADLEY 7.625 .250 7.375 .0400 7.335 11/01/2027
600107910 ZIMMERMAN DAN 7.875 .250 7.625 .0400 7.585 11/01/2027
600107912 WALKER DONALD L 7.875 .250 7.625 .0400 7.585 11/01/2027
600107913 MIRZAYAN ARA 7.625 .250 7.375 .0400 7.335 11/01/2027
600107914 MC CRACKEN ROBERT 7.875 .250 7.625 .0400 7.585 11/01/2027
600107915 NOGUCHI STEVE H 7.875 .250 7.625 .0400 7.585 11/01/2027
600107918 SCHNEIDER LARS 7.625 .250 7.375 .0400 7.335 11/01/2027
600107919 DOMINO JAMES J 7.750 .250 7.500 .0400 7.460 11/01/2027
600107920 DAMAN ARTHUR C 7.750 .250 7.500 .0400 7.460 11/01/2027
600107921 MARDIROSSIAN ALEC 7.625 .250 7.375 .0400 7.335 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>
600107903 HELD ROBERT D 1596048712 $2,331.89 01/01/1998 360
600107906 CASARES ROBERT A 1596049169 $3,185.08 01/01/1998 360
600107907 BLUME JEFFERY ALAN 1596049216 $1,798.73 01/01/1998 360
600107908 FOX KAREN P 1596049238 $1,819.93 01/01/1998 360
600107909 STERN ADRIAN BRADLEY 1596049475 $2,735.63 01/01/1998 360
600107910 ZIMMERMAN DAN 1596049635 $2,664.64 01/01/1998 360
600107912 WALKER DONALD L 1596050113 $2,900.28 01/01/1998 360
600107913 MIRZAYAN ARA 1596050532 $1,804.88 01/01/1998 360
600107914 MC CRACKEN ROBERT 1596050634 $1,812.68 01/01/1998 360
600107915 NOGUCHI STEVE H 1596050871 $2,233.22 01/01/1998 360
600107918 SCHNEIDER LARS 1596051182 $3,114.30 01/01/1998 360
600107919 DOMINO JAMES J 1596051320 $1,973.72 14 01/01/1998 360
600107920 DAMAN ARTHUR C 1596051546 $2,425.06 01/01/1998 360
600107921 MARDIROSSIAN ALEC 1596051557 $2,627.34 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107903 HELD ROBERT D .00 .00 .00 .000 .250 .290 $1,550,000.00 N
600107906 CASARES ROBERT A .00 .00 .00 .000 .250 .290 $695,000.00 N
600107907 BLUME JEFFERY ALAN .00 .00 .00 .000 .250 .290 $343,000.00 N
600107908 FOX KAREN P .00 .00 .00 .000 .250 .290 $385,000.00 N
600107909 STERN ADRIAN BRADLEY .00 .00 .00 .000 .250 .290 $485,000.00 N
600107910 ZIMMERMAN DAN .00 .00 .00 .000 .250 .290 $525,000.00 N
600107912 WALKER DONALD L .00 .00 .00 .000 .250 .290 $500,000.00 N
600107913 MIRZAYAN ARA .00 .00 .00 .000 .250 .290 $400,000.00 N
600107914 MC CRACKEN ROBERT .00 .00 .00 .000 .250 .290 $450,000.00 N
600107915 NOGUCHI STEVE H .00 .00 .00 .000 .250 .290 $385,000.00 N
600107918 SCHNEIDER LARS .00 .00 .00 .000 .250 .290 $606,000.00 N
600107919 DOMINO JAMES J .00 .00 .00 .000 .250 .290 $290,000.00 N
600107920 DAMAN ARTHUR C .00 .00 .00 .000 .250 .290 $925,000.00 N
600107921 MARDIROSSIAN ALEC .00 .00 .00 .000 .250 .290 $464,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 57
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107922 BOWMAN BRIAN P 6126 OSAGE AVE DOWNERS GROVE IL 60516 $245,234.32
600107923 HEINY MARK EUGENE 8724 ADMIRALS WOODS D INDIANAPOLIS IN 46236 $315,563.63
600107924 LENSKOLD WILLIAM 5321 LYNN LANE ELLICOTT CITY MD 21043 $264,415.47
600107925 CARTER ARTHUR A 12310 POINT FIELD DRIV FULTON MD 20759 $254,629.71
600107926 KUCHINSKY DORI ANNE 654 SPRINGVALE ROAD GREAT FALLS VA 22066 $440,642.95
600107927 BURGARD PETER J 52 ROBBINS ROAD ARLINGTON MA 02174 $299,553.33
600107928 SPITZER MIRIAM 2102 79TH STREET BROOKLYN NY 11214 $283,778.44
600107929 RUDMAN ROBERT 26 ROLLING HILLS DR NESCONSET NY 11767 $309,281.55
600107930 HUNTERMCKENZIE VICTORI 518 E 11TH ST NEW YORK NY 10003 $290,789.38
600107936 HIRSCH ROBERT H 51 ROBERTS RD NEW CITY NY 10956 $349,765.15
600107937 BUCKLEY TIMOTHY F 9 READ AVE YONKERS NY 10707 $263,813.67
600107940 DAWSONSMITH JUDITH 209 GAIR ST PIERMONT NY 10968 $270,099.40
600107941 MILLER JOHN R 11662 DUQUE DR LOS ANGELES CA 91604 $427,690.22
600107942 ALVARE CHARLES DAGUERR 7219 PACIFIC VW LOS ANGELES CA 90068 $279,797.35
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107922 BOWMAN BRIAN P 7.500 .250 7.250 .0400 7.210 11/01/2027
600107923 HEINY MARK EUGENE 7.875 .250 7.625 .0400 7.585 11/01/2027
600107924 LENSKOLD WILLIAM 7.625 .250 7.375 .0400 7.335 11/01/2027
600107925 CARTER ARTHUR A 7.625 .250 7.375 .0400 7.335 11/01/2027
600107926 KUCHINSKY DORI ANNE 7.500 .250 7.250 .0400 7.210 11/01/2027
600107927 BURGARD PETER J 7.500 .250 7.250 .0400 7.210 11/01/2027
600107928 SPITZER MIRIAM 7.250 .250 7.000 .0400 6.960 12/01/2027
600107929 RUDMAN ROBERT 7.750 .250 7.500 .0400 7.460 12/01/2027
600107930 HUNTERMCKENZIE VICTORI 7.625 .250 7.375 .0400 7.335 12/01/2027
600107936 HIRSCH ROBERT H 8.000 .250 7.750 .0400 7.710 12/01/2027
600107937 BUCKLEY TIMOTHY F 7.750 .250 7.500 .0400 7.460 12/01/2027
600107940 DAWSONSMITH JUDITH 7.500 .250 7.250 .0400 7.210 12/01/2027
600107941 MILLER JOHN R 7.625 .250 7.375 .0400 7.335 12/01/2027
600107942 ALVARE CHARLES DAGUERR 7.625 .250 7.375 .0400 7.335 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>
600107922 BOWMAN BRIAN P 1602100510 $1,717.27 01/01/1998 360
600107923 HEINY MARK EUGENE 1621156760 $2,291.22 01/01/1998 360
600107924 LENSKOLD WILLIAM 1721180198 $1,874.24 01/01/1998 360
600107925 CARTER ARTHUR A 1721180234 $1,804.87 01/01/1998 360
600107926 KUCHINSKY DORI ANNE 1761117970 $3,085.63 01/01/1998 360
600107927 BURGARD PETER J 1811074006 $2,097.64 01/01/1998 360
600107928 SPITZER MIRIAM 1106082002 $1,937.39 01/01/1998 360
600107929 RUDMAN ROBERT 1106092593 $2,217.30 2 01/01/1998 360
600107930 HUNTERMCKENZIE VICTORI 1111122671 $2,059.68 01/01/1998 360
600107936 HIRSCH ROBERT H 1111138139 $2,568.18 01/01/1998 360
600107937 BUCKLEY TIMOTHY F 1111138343 $1,891.33 01/01/1998 360
600107940 DAWSONSMITH JUDITH 1111143864 $1,889.98 01/01/1998 360
600107941 MILLER JOHN R 1230015218 $3,029.36 01/01/1998 360
600107942 ALVARE CHARLES DAGUERR 1230015681 $1,981.82 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107922 BOWMAN BRIAN P .00 .00 .00 .000 .250 .290 $307,000.00 N
600107923 HEINY MARK EUGENE .00 .00 .00 .000 .250 .290 $395,000.00 N
600107924 LENSKOLD WILLIAM .00 .00 .00 .000 .250 .290 $331,000.00 N
600107925 CARTER ARTHUR A .00 .00 .00 .000 .250 .290 $350,000.00 N
600107926 KUCHINSKY DORI ANNE .00 .00 .00 .000 .250 .290 $650,000.00 N
600107927 BURGARD PETER J .00 .00 .00 .000 .250 .290 $421,000.00 N
600107928 SPITZER MIRIAM .00 .00 .00 .000 .250 .290 $355,000.00 N
600107929 RUDMAN ROBERT .00 .00 .00 .000 .250 .290 $343,900.00 N
600107930 HUNTERMCKENZIE VICTORI .00 .00 .00 .000 .250 .290 $390,000.00 N
600107936 HIRSCH ROBERT H .00 .00 .00 .000 .250 .290 $504,000.00 N
600107937 BUCKLEY TIMOTHY F .00 .00 .00 .000 .250 .290 $330,000.00 N
600107940 DAWSONSMITH JUDITH .00 .00 .00 .000 .250 .290 $337,900.00 N
600107941 MILLER JOHN R .00 .00 .00 .000 .250 .290 $740,000.00 N
600107942 ALVARE CHARLES DAGUERR .00 .00 .00 .000 .250 .290 $350,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 58
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107948 REID RUSSELL L 4321 BEVERLY DRIVE HIGHLAND PARK TX 75205 $427,674.33
600107950 FRENCH ROBERT F 16095 WOODBRIDGE COURT TRUCKEE CA 96161 $291,793.90
600107953 PFEIFER CARANO MICHELE 307 WEST FRANCIS STR ASPEN CO 81611 $999,394.19
600107954 SIMMONS ROBERT W 230 RIVERSIDE DRIVE GREENVILLE SC 29605 $389,724.74
600107955 RICHEY STEPHEN L 4281 EDGEHILL DR OGDEN UT 84403 $322,172.45
600107961 TOMBACK MICHAEL S 767 WILLIAMS WAY VERNON HILLS IL 60061 $242,828.49
600107964 OROURKE JAMES F 3637 DUNSMUIR CIRCLE PLEASANTON CA 94588 $249,135.05
600107965 CHAFFINS DOUGLAS H 1190 VALLEY RESERVE D KENNESAW GA 30152 $274,984.61
600108049 SMITH BARRY T 202 ULTRA DRIVE HENDERSON NV 89014 $272,347.00
600108052 POTRUCH CAROL M 70 RIVERSIDE DR NEW YORK NY 10023 $249,663.38
600108054 FELDMAN ARNOLD 302 W 12TH ST NEW YORK NY 10014 $263,644.54
600108056 SCHRYVER MARK 35 SHERRILL RD EAST HAMPTON NY 11937 $239,530.12
600108057 WILKINSON ANGELIKA A 2278 PARNELL AVENUE LOS ANGELES CA 90064 $397,464.12
600108060 TEITSCHEID DAN A 3808 RIVER AVE NEWPORT BEACH CA 92663 $402,614.51
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107948 REID RUSSELL L 7.375 .250 7.125 .0400 7.085 12/01/2027
600107950 FRENCH ROBERT F 7.750 .250 7.500 .0400 7.460 12/01/2027
600107953 PFEIFER CARANO MICHELE 8.500 .250 8.250 .0400 8.210 12/01/2027
600107954 SIMMONS ROBERT W 7.750 .250 7.500 .0400 7.460 12/01/2027
600107955 RICHEY STEPHEN L 7.750 .250 7.500 .0400 7.460 12/01/2027
600107961 TOMBACK MICHAEL S 7.750 .250 7.500 .0400 7.460 12/01/2027
600107964 OROURKE JAMES F 7.875 .250 7.625 .0400 7.585 11/01/2017
600107965 CHAFFINS DOUGLAS H 7.375 .250 7.125 .0400 7.085 11/01/2017
600108049 SMITH BARRY T 8.000 .250 7.750 .0400 7.710 10/01/2027
600108052 POTRUCH CAROL M 8.000 .250 7.750 .0400 7.710 11/01/2027
600108054 FELDMAN ARNOLD 8.000 .250 7.750 .0400 7.710 11/01/2027
600108056 SCHRYVER MARK 8.000 .250 7.750 .0400 7.710 11/01/2027
600108057 WILKINSON ANGELIKA A 8.000 .250 7.750 .0400 7.710 11/01/2027
600108060 TEITSCHEID DAN A 7.625 .250 7.375 .0400 7.335 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>
600107948 REID RUSSELL L 1521041610 $2,956.09 01/01/1998 360
600107950 FRENCH ROBERT F 1561377015 $2,091.93 01/01/1998 360
600107953 PFEIFER CARANO MICHELE 1569186101 $7,689.14 01/01/1998 360
600107954 SIMMONS ROBERT W 1577103008 $2,794.01 01/01/1998 360
600107955 RICHEY STEPHEN L 1579065158 $2,309.72 01/01/1998 360
600107961 TOMBACK MICHAEL S 1583071835 $1,740.89 01/01/1998 360
600107964 OROURKE JAMES F 1506350776 $2,071.69 01/01/1998 240
600107965 CHAFFINS DOUGLAS H 1566112051 $2,202.39 01/01/1998 240
600108049 SMITH BARRY T 1513196643 $2,002.44 12 01/01/1998 360
600108052 POTRUCH CAROL M 1111126763 $1,834.42 01/01/1998 360
600108054 FELDMAN ARNOLD 1111128496 $1,937.14 01/01/1998 360
600108056 SCHRYVER MARK 1111136392 $1,761.04 01/01/1998 360
600108057 WILKINSON ANGELIKA A 1113060724 $2,920.38 01/01/1998 360
600108060 TEITSCHEID DAN A 1231008998 $2,853.82 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107948 REID RUSSELL L .00 .00 .00 .000 .250 .290 $535,000.00 N
600107950 FRENCH ROBERT F .00 .00 .00 .000 .250 .290 $365,000.00 N
600107953 PFEIFER CARANO MICHELE .00 .00 .00 .000 .250 .290 $1,750,000.00 N
600107954 SIMMONS ROBERT W .00 .00 .00 .000 .250 .290 $800,000.00 N
600107955 RICHEY STEPHEN L .00 .00 .00 .000 .250 .290 $403,000.00 N
600107961 TOMBACK MICHAEL S .00 .00 .00 .000 .250 .290 $304,000.00 N
600107964 OROURKE JAMES F .00 .00 .00 .000 .250 .290 $355,000.00 N
600107965 CHAFFINS DOUGLAS H .00 .00 .00 .000 .250 .290 $365,000.00 N
600108049 SMITH BARRY T .00 .00 .00 .000 .250 .290 $303,250.00 N
600108052 POTRUCH CAROL M .00 .00 .00 .000 .250 .290 $350,000.00 N
600108054 FELDMAN ARNOLD .00 .00 .00 .000 .250 .290 $330,000.00 N
600108056 SCHRYVER MARK .00 .00 .00 .000 .250 .290 $300,000.00 N
600108057 WILKINSON ANGELIKA A .00 .00 .00 .000 .250 .290 $520,000.00 N
600108060 TEITSCHEID DAN A .00 .00 .00 .000 .250 .290 $504,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 59
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600108065 YELLIN DONALD 13771 LE BATEAU LANE PALM BEACH GARD FL 33410 $299,542.04
600108066 CASSIDY TERRENCE S 400 NORTH FLAGLER DR WEST PALM BEACH FL 33401 $287,592.15
600108068 JOHNSON CLAY L 4902 226TH PLACE NE ARLINGTON WA 98223 $322,043.29
600108077 JUN ASHLEY HEAYUN 12650 MEADOWLARK AVE LOS ANGELES GRA CA 91344 $238,678.19
600108078 CHEN PHILIP 326 ALSTER AVENUE ARCADIA CA 91006 $265,863.37
600108080 COLLIER NORMAN G 33 BROWNSBORO HILL LOUISVILLE KY 40207 $374,455.44
600108088 YATES JR WORTH 5308 TORTUGA TRAIL AUSTIN TX 78731 $372,371.90
600108090 LAINE JR EDWARD 27143 SE 27TH ST ISSAQUAH WA 98029 $349,928.19
600108092 NELSON JR NED 670 NW EVERWOOD DR ISSAQUAH WA 98027 $246,467.68
600108093 KINNEY SR ALVIN 24125 NE WAPATO SCHOOL GASTON OR 97119 $271,633.77
600108099 ASCHAUER ARTHUR 6711 EAST CAMELBACK R SCOTTSDALE AZ 85251 $419,390.09
600108103 RUMFOLA DEAN R 545 DESPERADO CT BAILEY CO 80421 $355,483.03
600108109 BROSEY DANIEL C 2889 CONSTELLATION WA FINKSBURG MD 21048 $296,589.86
600108115 HALVORSEN JEFFREY T 2849 SPANISH RIVER RD BOCA RATON FL 33432 $349,491.75
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600108065 YELLIN DONALD 7.375 .250 7.125 .0400 7.085 11/01/2027
600108066 CASSIDY TERRENCE S 7.750 .250 7.500 .0400 7.460 11/01/2027
600108068 JOHNSON CLAY L 7.750 .250 7.500 .0400 7.460 11/01/2027
600108077 JUN ASHLEY HEAYUN 8.000 .250 7.750 .0400 7.710 11/01/2027
600108078 CHEN PHILIP 7.625 .250 7.375 .0400 7.335 11/01/2027
600108080 COLLIER NORMAN G 7.625 .250 7.375 .0400 7.335 11/01/2027
600108088 YATES JR WORTH 7.750 .250 7.500 .0400 7.460 11/01/2027
600108090 LAINE JR EDWARD 8.000 .250 7.750 .0400 7.710 11/01/2027
600108092 NELSON JR NED 8.000 .250 7.750 .0400 7.710 11/01/2027
600108093 KINNEY SR ALVIN 8.000 .250 7.750 .0400 7.710 11/01/2027
600108099 ASCHAUER ARTHUR 7.625 .250 7.375 .0400 7.335 11/01/2027
600108103 RUMFOLA DEAN R 7.625 .250 7.375 .0400 7.335 11/01/2027
600108109 BROSEY DANIEL C 7.875 .250 7.625 .0400 7.585 11/01/2027
600108115 HALVORSEN JEFFREY T 7.625 .250 7.375 .0400 7.335 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>
600108065 YELLIN DONALD 1301130724 $2,072.03 01/01/1998 360
600108066 CASSIDY TERRENCE S 1303019295 $2,063.27 2 01/01/1998 360
600108068 JOHNSON CLAY L 1471011266 $2,310.43 01/01/1998 360
600108077 JUN ASHLEY HEAYUN 1506355099 $1,753.70 12 01/01/1998 360
600108078 CHEN PHILIP 1506355113 $1,884.50 01/01/1998 360
600108080 COLLIER NORMAN G 1511201550 $2,654.23 01/01/1998 360
600108088 YATES JR WORTH 1563174165 $2,671.51 01/01/1998 360
600108090 LAINE JR EDWARD 1565172342 $2,571.12 01/01/1998 360
600108092 NELSON JR NED 1565174520 $1,810.94 01/01/1998 360
600108093 KINNEY SR ALVIN 1565176015 $1,995.84 01/01/1998 360
600108099 ASCHAUER ARTHUR 1569183952 $2,972.74 01/01/1998 360
600108103 RUMFOLA DEAN R 1579061554 $2,519.75 01/01/1998 360
600108109 BROSEY DANIEL C 1587088545 $2,153.46 01/01/1998 360
600108115 HALVORSEN JEFFREY T 1589143010 $2,477.28 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600108065 YELLIN DONALD .00 .00 .00 .000 .250 .290 $884,000.00 N
600108066 CASSIDY TERRENCE S .00 .00 .00 .000 .250 .290 $320,000.00 N
600108068 JOHNSON CLAY L .00 .00 .00 .000 .250 .290 $430,000.00 N
600108077 JUN ASHLEY HEAYUN .00 .00 .00 .000 .250 .290 $290,000.00 N
600108078 CHEN PHILIP .00 .00 .00 .000 .250 .290 $355,000.00 N
600108080 COLLIER NORMAN G .00 .00 .00 .000 .250 .290 $502,000.00 N
600108088 YATES JR WORTH .00 .00 .00 .000 .250 .290 $490,000.00 N
600108090 LAINE JR EDWARD .00 .00 .00 .000 .250 .290 $438,000.00 N
600108092 NELSON JR NED .00 .00 .00 .000 .250 .290 $355,000.00 N
600108093 KINNEY SR ALVIN .00 .00 .00 .000 .250 .290 $340,000.00 N
600108099 ASCHAUER ARTHUR .00 .00 .00 .000 .250 .290 $525,000.00 N
600108103 RUMFOLA DEAN R .00 .00 .00 .000 .250 .290 $445,000.00 N
600108109 BROSEY DANIEL C .00 .00 .00 .000 .250 .290 $420,000.00 N
600108115 HALVORSEN JEFFREY T .00 .00 .00 .000 .250 .290 $790,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 60
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600108117 DANYLUK MARK 710 NORTH IRENA AVEN REDONDO BEACH CA 90277 $319,024.27
600108180 JEFF ST LOUIS 4019 QUARTON BLOOMFIELD HILL MI 48302 $214,843.60
600109167 Goldseker 7 Hurlingham Court Baltimore MD 21208 $346,183.75
600109168 Fackler 318 Overhill Road Baltimore MD 21210 $340,303.33
600109169 Becker 11914 Minor Jones Drive Owings Mills MD 21117 $988,866.85
600109171 Washbourne 1102 Rolandvue Road Ruxton MD 21204 $271,711.06
600109174 Canzoniero 27157 Anchorage Road Easton MD 21601 $371,893.01
600109177 Berkeley 110 Castlewood Road Baltimore MD 21210 $245,229.53
600109183 Rieger 1015 Ivy Hill Road Cockeysville MD 21030 $323,362.91
600109405 BERGER 132 PASEO DEL RIO SEGUIN TX 78155 $287,312.63
600109407 HEFNER 30317 LAQUINTA DR GEORGETOWN TX 78628 $249,819.06
600109410 CAGNEY 626 ELLINGTON COURT FOX RIVER GROVE IL 60021 $237,109.22
600109411 STRONCEK 10309 CAVANAUGH CT ROCKVILLE MD 20850 $359,271.73
600109412 NOWICKI 6531 BURGUNDY LANE CLARKSVILLE MD 21029 $263,254.76
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600108117 DANYLUK MARK 7.500 .250 7.250 .0400 7.210 11/01/2027
600108180 JEFF ST LOUIS 7.600 .250 7.350 .0500 7.300 12/01/2027
600109167 Goldseker 8.500 .250 8.250 .0500 8.200 08/01/2026
600109168 Fackler 8.250 .250 8.000 .0500 7.950 09/01/2026
600109169 Becker 8.500 .250 8.250 .0500 8.200 11/01/2026
600109171 Washbourne 8.000 .250 7.750 .0500 7.700 01/01/2027
600109174 Canzoniero 7.875 .375 7.500 .0500 7.450 05/01/2027
600109177 Berkeley 7.125 .250 6.875 .0500 6.825 03/01/2026
600109183 Rieger 7.750 .250 7.500 .0500 7.450 06/01/2027
600109405 BERGER 8.000 .250 7.750 .0500 7.700 11/01/2027
600109407 HEFNER 7.625 .250 7.375 .0500 7.325 12/01/2027
600109410 CAGNEY 7.875 .250 7.625 .0500 7.575 10/01/2027
600109411 STRONCEK 8.000 .250 7.750 .0500 7.700 09/01/2027
600109412 NOWICKI 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>
600108117 DANYLUK MARK 1595062048 $2,234.00 12 01/01/1998 360
600108180 JEFF ST LOUIS 3418159 $1,518.07 01/01/1998 360
600109167 Goldseker 39039516 $2,691.20 01/01/1998 360
600109168 Fackler 39040381 $2,584.36 01/01/1998 360
600109169 Becker 39040993 $7,689.14 01/01/1998 360
600109171 Washbourne 39046727 $2,010.52 01/01/1998 360
600109174 Canzoniero 39050604 $2,711.76 01/01/1998 360
600109177 Berkeley 39027958 $1,684.30 01/01/1998 360
600109183 Rieger 39051933 $2,328.34 01/01/1998 360
600109405 BERGER 0913219 $2,111.04 01/01/1998 360
600109407 HEFNER 0919363 $1,769.48 01/01/1998 360
600109410 CAGNEY 0924380 $1,723.49 01/01/1998 360
600109411 STRONCEK 0925533 $2,645.22 01/01/1998 360
600109412 NOWICKI 0927959 $2,004.69 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600108117 DANYLUK MARK .00 .00 .00 .000 .250 .290 $355,000.00 N
600108180 JEFF ST LOUIS .00 .00 .00 .000 .250 .300 $290,000.00 N
600109167 Goldseker .00 .00 .00 .000 .250 .300 $630,000.00 N
600109168 Fackler .00 .00 .00 .000 .250 .300 $430,000.00 N
600109169 Becker .00 .00 .00 .000 .250 .300 $2,000,000.00 N
600109171 Washbourne .00 .00 .00 .000 .250 .300 $342,500.00 N
600109174 Canzoniero .00 .00 .00 .000 .375 .425 $467,500.00 N
600109177 Berkeley .00 .00 .00 .000 .250 .300 $315,000.00 N
600109183 Rieger .00 .00 .00 .000 .250 .300 $410,000.00 N
600109405 BERGER .00 .00 .00 .000 .250 .300 $361,000.00 N
600109407 HEFNER .00 .00 .00 .000 .250 .300 $390,000.00 N
600109410 CAGNEY .00 .00 .00 .000 .250 .300 $297,143.00 N
600109411 STRONCEK .00 .00 .00 .000 .250 .300 $450,701.00 N
600109412 NOWICKI .00 .00 .00 .000 .250 .300 $277,683.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 61
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109413 JONES 4527 HIGH COURT CIRCLE BIRMINGHAM AL 35242 $431,695.10
600109414 CAMPBELL 1108 FOX PATH WEST DUNDEE IL 60118 $244,896.68
600109416 CORNELL 6908 BERRYWOOD CT COLUMBIA MD 21044 $261,548.80
600109418 BECHARD 702 PRESTIGE POINTE PEACHTREE CITY GA 30269 $434,787.93
600109419 ROGOZE 11 OLD FARM RD HOPKINTON MA 01748 $393,033.69
600109420 ROEHRI 808 PLEASANT STREET FOX RIVER GROVE IL 60021 $263,635.45
600109421 HO 8 BAKER LANE HOPKINTON MA 01748 $239,834.83
600109423 AARANSON 1334 BENTLEY PLACE CHESTERFIELD MO 63005 $371,936.71
600109427 MURRELL 29 WINTHROP DOWNS SAN ANTONIO TX 78257 $307,262.14
600109428 KHEDER 240 VICTORIAN HILLS DRIV OKEMOS MI 48864 $425,962.54
600109429 SCHIAVON 12235 FREDERICK ROAD ELLICOTT CITY MD 21042 $288,714.73
600109433 METRO 85 PATCH HILL RD BOXBORO MA 01719 $309,339.36
600109437 GOLOB 10820 HOB NAIL COURT POTOMAC MD 20854 $377,266.10
600109439 NEELY 2210 CAMBRIDGE BLVD COLUMBUS OH 43221 $249,506.08
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109413 JONES 7.750 .250 7.500 .0500 7.450 12/01/2027
600109414 CAMPBELL 7.000 .250 6.750 .0500 6.700 11/01/2027
600109416 CORNELL 7.875 .250 7.625 .0500 7.575 08/01/2027
600109418 BECHARD 7.875 .250 7.625 .0500 7.575 09/01/2027
600109419 ROGOZE 8.625 .250 8.375 .0500 8.325 11/01/2027
600109420 ROEHRI 7.875 .250 7.625 .0500 7.575 11/01/2027
600109421 HO 7.875 .250 7.625 .0500 7.575 12/01/2027
600109423 AARANSON 7.750 .250 7.500 .0500 7.450 09/01/2027
600109427 MURRELL 8.000 .250 7.750 .0500 7.700 10/01/2027
600109428 KHEDER 7.875 .250 7.625 .0500 7.575 09/01/2027
600109429 SCHIAVON 7.500 .250 7.250 .0500 7.200 09/01/2027
600109433 METRO 7.750 .250 7.500 .0500 7.450 10/01/2027
600109437 GOLOB 7.500 .250 7.250 .0500 7.200 09/01/2027
600109439 NEELY 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>
600109413 JONES 0928382 $3,094.90 01/01/1998 360
600109414 CAMPBELL 0929557 $1,631.99 01/01/1998 360
600109416 CORNELL 0930784 $1,903.74 01/01/1998 360
600109418 BECHARD 0932011 $3,161.30 01/01/1998 360
600109419 ROGOZE 0932644 $3,060.60 01/01/1998 360
600109420 ROEHRI 0933230 $1,914.18 01/01/1998 360
600109421 HO 0934138 $1,740.17 01/01/1998 360
600109423 AARANSON 0938271 $2,672.22 01/01/1998 360
600109427 MURRELL 0939368 $2,259.99 01/01/1998 360
600109428 KHEDER 0939408 $3,097.13 01/01/1998 360
600109429 SCHIAVON 0939591 $2,024.93 01/01/1998 360
600109433 METRO 0940626 $2,220.88 01/01/1998 360
600109437 GOLOB 0941463 $2,645.83 01/01/1998 360
600109439 NEELY 0943384 $1,856.24 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109413 JONES .00 .00 .00 .000 .250 .300 $540,000.00 N
600109414 CAMPBELL .00 .00 .00 .000 .250 .300 $306,650.00 N
600109416 CORNELL .00 .00 .00 .000 .250 .300 $328,200.00 N
600109418 BECHARD .00 .00 .00 .000 .250 .300 $545,000.00 N
600109419 ROGOZE .00 .00 .00 .000 .250 .300 $530,000.00 N
600109420 ROEHRI .00 .00 .00 .000 .250 .300 $330,107.00 N
600109421 HO .00 .00 .00 .000 .250 .300 $310,650.00 N
600109423 AARANSON .00 .00 .00 .000 .250 .300 $492,000.00 N
600109427 MURRELL .00 .00 .00 .000 .250 .300 $419,500.00 N
600109428 KHEDER .00 .00 .00 .000 .250 .300 $725,000.00 N
600109429 SCHIAVON .00 .00 .00 .000 .250 .300 $362,000.00 N
600109433 METRO .00 .00 .00 .000 .250 .300 $430,000.00 N
600109437 GOLOB .00 .00 .00 .000 .250 .300 $473,000.00 N
600109439 NEELY .00 .00 .00 .000 .250 .300 $350,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 62
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109444 THOLE 7376 BEECH KNOLLS TR ONEKAMA MI 49660 $299,585.73
600109446 MEZA 14080 CAMDEN DRIVE ORLAND PARK IL 60462 $254,520.12
600109447 SCOTT 8738 N ELMORE NILES IL 60714 $252,850.35
600109451 MARTIN 77 SQUAM RD NANTUCKET MA 02554 $399,447.63
600109452 EVERETT 1309 UPPER SASSAFRAS PARK JASPAR GA 30143 $254,170.70
600109458 TUTHILL- 3622 S BAY BLUFFS DR CEDAR MI 49621 $249,654.79
600109463 BATTY 34 DOWNING ROAD LEXINGTON MA 02173 $307,098.07
600109466 MCPIKE 2770 GARRISON AVE EVANSTON IL 60201 $334,786.39
600109469 SCHWARTZ 1784 OLD BRIAR RD HIGHLAND PARK IL 60035 $297,577.98
600109471 RUHL JR 54 FOREST ROAD BILTMORE FOREST NC 28803 $289,568.21
600109472 WHICHARD 25 ALTIMIRA COTO DE CAZA CA 92679 $302,737.16
600109473 PURDY 217 S HEBERTA AVENUE REDONDO BEACH CA 90277 $314,519.14
600109478 LANGE 2741 VAN DAM DR NE BELMONT MI 49306 $250,223.27
600109480 HAJJAR 24 MYOBER LANE EDGERTOWN MA 02539 $594,630.17
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109444 THOLE 7.875 .250 7.625 .0500 7.575 11/01/2027
600109446 MEZA 8.375 .250 8.125 .0500 8.075 10/01/2027
600109447 SCOTT 7.875 .250 7.625 .0500 7.575 11/01/2027
600109451 MARTIN 7.875 .250 7.625 .0500 7.575 11/01/2027
600109452 EVERETT 7.875 .250 7.625 .0500 7.575 10/01/2027
600109458 TUTHILL- 7.875 .250 7.625 .0500 7.575 11/01/2027
600109463 BATTY 7.875 .250 7.625 .0500 7.575 11/01/2027
600109466 MCPIKE 8.250 .250 8.000 .0500 7.950 12/01/2027
600109469 SCHWARTZ 7.750 .250 7.500 .0500 7.450 11/01/2027
600109471 RUHL JR 7.500 .250 7.250 .0500 7.200 11/01/2027
600109472 WHICHARD 7.375 .250 7.125 .0500 7.075 11/01/2027
600109473 PURDY 7.375 .250 7.125 .0500 7.075 11/01/2027
600109478 LANGE 7.750 .250 7.500 .0500 7.450 12/01/2027
600109480 HAJJAR 8.375 .250 8.125 .0500 8.075 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>
600109444 THOLE 0944132 $2,175.21 01/01/1998 360
600109446 MEZA 0945236 $1,939.70 12 01/01/1998 360
600109447 SCOTT 0945422 $1,835.88 01/01/1998 360
600109451 MARTIN 0946485 $2,900.28 01/01/1998 360
600109452 EVERETT 0946490 $1,846.75 2 01/01/1998 360
600109458 TUTHILL- 0947691 $1,812.67 01/01/1998 360
600109463 BATTY 0948488 $2,233.21 01/01/1998 360
600109466 MCPIKE 0948709 $2,516.74 01/01/1998 360
600109469 SCHWARTZ 0948822 $2,134.91 01/01/1998 360
600109471 RUHL JR 0949217 $2,027.72 01/01/1998 360
600109472 WHICHARD 0949310 $2,094.13 01/01/1998 360
600109473 PURDY 0949340 $2,175.63 12 01/01/1998 360
600109478 LANGE 0949590 $1,793.90 01/01/1998 360
600109480 HAJJAR 0949813 $4,522.43 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109444 THOLE .00 .00 .00 .000 .250 .300 $425,000.00 N
600109446 MEZA .00 .00 .00 .000 .250 .300 $280,327.00 N
600109447 SCOTT .00 .00 .00 .000 .250 .300 $316,500.00 N
600109451 MARTIN .00 .00 .00 .000 .250 .300 $851,000.00 N
600109452 EVERETT .00 .00 .00 .000 .250 .300 $283,000.00 N
600109458 TUTHILL- .00 .00 .00 .000 .250 .300 $415,000.00 N
600109463 BATTY .00 .00 .00 .000 .250 .300 $385,000.00 N
600109466 MCPIKE .00 .00 .00 .000 .250 .300 $429,000.00 N
600109469 SCHWARTZ .00 .00 .00 .000 .250 .300 $372,500.00 N
600109471 RUHL JR .00 .00 .00 .000 .250 .300 $425,000.00 N
600109472 WHICHARD .00 .00 .00 .000 .250 .300 $379,000.00 N
600109473 PURDY .00 .00 .00 .000 .250 .300 $350,000.00 N
600109478 LANGE .00 .00 .00 .000 .250 .300 $313,000.00 N
600109480 HAJJAR .00 .00 .00 .000 .250 .300 $950,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 63
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109481 ADAMIK 34 ROBBINS ROAD LEXINGTON MA 02173 $364,483.12
600109483 BEROWITZ 25 CAPTAIN JOSHUA LANE NORWELL MA 02061 $300,768.86
600109488 LAZARUS 4235 CLEARWATER LANE NAPERVILLE IL 60564 $268,104.44
600109491 DODDS 306 WOODBRIGE WAY SIMPSONVILLE SC 29681 $253,640.30
600109492 LINSON 3941 LOCH BEND COMMERCE TWP MI 48382 $268,654.79
600109493 MIKULA 2280 TUNNEL BREEZE COURT HOLLAND MI 49424 $324,551.19
600109496 ESCOBEDO 10 SHERBORNE LANE SAN ANTONIO TX 78257 $253,621.91
600109497 CHANEY 172 MAPLEWOOD RIVERSIDE IL 60546 $439,344.88
600109498 ASTBURY 516 FOREST EDGE LANE OVILLA TX 75154 $307,588.18
600109503 DRABEK 406 KENMARE DRIVE BURR RIDGE IL 60521 $359,502.87
600109505 CARLOS 720 CASTLERIA LANE DES PLAINES IL 60016 $355,578.13
600109506 KOEPSELL 800 COOPER SANDY COVE ALPHARETTA GA 30201 $369,732.20
600109509 DAUGHERT 4313 HOLLY HARBOR RD OXFORD MD 21654 $299,616.08
600109512 CAMBATA 21898 HYDE PARK DRIVE ASHBURN VA 20147 $340,759.32
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109481 ADAMIK 7.750 .250 7.500 .0500 7.450 11/01/2027
600109483 BEROWITZ 7.250 .250 7.000 .0500 6.950 11/01/2027
600109488 LAZARUS 7.875 .250 7.625 .0500 7.575 11/01/2027
600109491 DODDS 7.750 .250 7.500 .0500 7.450 11/01/2027
600109492 LINSON 8.250 .250 8.000 .0500 7.950 11/01/2027
600109493 MIKULA 7.875 .250 7.625 .0500 7.575 11/01/2027
600109496 ESCOBEDO 7.625 .250 7.375 .0500 7.325 11/01/2027
600109497 CHANEY 7.500 .250 7.250 .0500 7.200 11/01/2027
600109498 ASTBURY 7.875 .250 7.625 .0500 7.575 12/01/2027
600109503 DRABEK 7.875 .250 7.625 .0500 7.575 11/01/2027
600109505 CARLOS 8.625 .250 8.375 .0500 8.325 11/01/2027
600109506 KOEPSELL 7.625 .250 7.375 .0500 7.325 12/01/2027
600109509 DAUGHERT 8.250 .250 8.000 .0500 7.950 11/01/2027
600109512 CAMBATA 7.750 .250 7.500 .0500 7.450 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>
600109481 ADAMIK 0949814 $2,614.90 01/01/1998 360
600109483 BEROWITZ 0950128 $2,060.17 01/01/1998 360
600109488 LAZARUS 0950527 $1,972.19 01/01/1998 360
600109491 DODDS 0950943 $1,819.69 01/01/1998 360
600109492 LINSON 0950960 $2,020.91 01/01/1998 360
600109493 MIKULA 0951064 $2,356.48 01/01/1998 360
600109496 ESCOBEDO 0951302 $1,811.95 01/01/1998 360
600109497 CHANEY 0951362 $3,076.54 01/01/1998 360
600109498 ASTBURY 0951370 $2,231.76 2 01/01/1998 360
600109503 DRABEK 0951628 $2,610.25 01/01/1998 360
600109505 CARLOS 0951687 $2,768.93 01/01/1998 360
600109506 KOEPSELL 0951717 $2,618.84 01/01/1998 360
600109509 DAUGHERT 0951927 $2,253.80 01/01/1998 360
600109512 CAMBATA 0952030 $2,442.97 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109481 ADAMIK .00 .00 .00 .000 .250 .300 $460,000.00 N
600109483 BEROWITZ .00 .00 .00 .000 .250 .300 $377,500.00 N
600109488 LAZARUS .00 .00 .00 .000 .250 .300 $420,000.00 N
600109491 DODDS .00 .00 .00 .000 .250 .300 $340,000.00 N
600109492 LINSON .00 .00 .00 .000 .250 .300 $390,000.00 N
600109493 MIKULA .00 .00 .00 .000 .250 .300 $415,000.00 N
600109496 ESCOBEDO .00 .00 .00 .000 .250 .300 $405,000.00 N
600109497 CHANEY .00 .00 .00 .000 .250 .300 $550,000.00 N
600109498 ASTBURY .00 .00 .00 .000 .250 .300 $342,000.00 N
600109503 DRABEK .00 .00 .00 .000 .250 .300 $555,000.00 N
600109505 CARLOS .00 .00 .00 .000 .250 .300 $445,000.00 N
600109506 KOEPSELL .00 .00 .00 .000 .250 .300 $737,900.00 N
600109509 DAUGHERT .00 .00 .00 .000 .250 .300 $525,000.00 N
600109512 CAMBATA .00 .00 .00 .000 .250 .300 $426,865.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 64
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109517 CHATERJI 437 BUSHY HILL ROAD SIMSBURY CT 06070 $241,690.30
600109518 WINKEL 21-2 LIBRARY LANE OLD LYME CT 06371 $254,039.74
600109519 WINKEL 4 BILLOW RD OLD LYME CT 06371 $256,145.80
600109523 RAITA 316 GREENWOOD ST BIRMINGHAM AL 35209 $234,479.36
600109525 HEIBERGE 13635 VALLEY OAK CIRCLE ROCKVILLE MD 20850 $264,615.17
600109526 SCHIEBLE 216 53RD STREET VIRGINIA BEACH VA 23451 $237,314.73
600109528 KESLER 9300 HONEYMOON COTTAGE WA MECHANICSVILLE VA 23116 $251,826.58
600109530 ABRAMS 14418 SENECA RD DARNESTOWN MD 20874 $299,782.87
600109536 WISBEY 6627 STEEPLECHASE LANE BARRIEN SPRINGS MI 49103 $240,834.14
600109544 WORKINGE 13901 FAIRWAY LANE GOSHEN KY 40026 $256,145.80
600109558 BOWMAN 593 PRESTWORTH DRIVE COLLIERVILLE TN 38017 $290,778.58
600109561 HALPERN 2432 NW 67TH ST BOCA RATON FL 33496 $287,806.76
600109564 BRIGHT 125 APACHE TRAIL SANTA FE NM 87505 $296,713.63
600109571 BAIR 5627 W MELINDA LANE GLENDALE AZ 85308 $234,199.91
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109517 CHATERJI 8.250 .250 8.000 .0500 7.950 11/01/2027
600109518 WINKEL 7.750 .250 7.500 .0500 7.450 11/01/2027
600109519 WINKEL 7.875 .250 7.625 .0500 7.575 11/01/2027
600109523 RAITA 7.625 .250 7.375 .0500 7.325 11/01/2027
600109525 HEIBERGE 7.625 .250 7.375 .0500 7.325 11/01/2027
600109526 SCHIEBLE 7.250 .250 7.000 .0500 6.950 12/01/2027
600109528 KESLER 7.875 .250 7.625 .0500 7.575 12/01/2027
600109530 ABRAMS 7.625 .250 7.375 .0500 7.325 12/01/2027
600109536 WISBEY 7.875 .250 7.625 .0500 7.575 12/01/2027
600109544 WORKINGE 7.875 .250 7.625 .0500 7.575 11/01/2027
600109558 BOWMAN 7.375 .250 7.125 .0500 7.075 12/01/2027
600109561 HALPERN 8.000 .250 7.750 .0500 7.700 12/01/2027
600109564 BRIGHT 8.125 .250 7.875 .0500 7.825 09/01/2027
600109571 BAIR 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>
600109517 CHATERJI 0953360 $1,818.07 01/01/1998 360
600109518 WINKEL 0953365 $1,822.55 01/01/1998 360
600109519 WINKEL 0953366 $1,859.80 01/01/1998 360
600109523 RAITA 0953576 $1,663.32 01/01/1998 360
600109525 HEIBERGE 0954205 $1,875.66 01/01/1998 360
600109526 SCHIEBLE 0954242 $1,620.17 01/01/1998 360
600109528 KESLER 0954322 $1,827.17 01/01/1998 360
600109530 ABRAMS 0954457 $2,123.38 01/01/1998 360
600109536 WISBEY 0954850 $1,747.42 01/01/1998 360
600109544 WORKINGE 0955440 $1,859.80 01/01/1998 360
600109558 BOWMAN 0957631 $2,009.86 12 01/01/1998 360
600109561 HALPERN 0958491 $2,113.24 7 01/01/1998 360
600109564 BRIGHT 6211100 $2,208.93 01/01/1998 360
600109571 BAIR 6212985 $1,761.72 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109517 CHATERJI .00 .00 .00 .000 .250 .300 $332,000.00 N
600109518 WINKEL .00 .00 .00 .000 .250 .300 $318,000.00 N
600109519 WINKEL .00 .00 .00 .000 .250 .300 $342,000.00 N
600109523 RAITA .00 .00 .00 .000 .250 .300 $315,000.00 N
600109525 HEIBERGE .00 .00 .00 .000 .250 .300 $350,000.00 N
600109526 SCHIEBLE .00 .00 .00 .000 .250 .300 $340,000.00 N
600109528 KESLER .00 .00 .00 .000 .250 .300 $315,000.00 N
600109530 ABRAMS .00 .00 .00 .000 .250 .300 $450,000.00 N
600109536 WISBEY .00 .00 .00 .000 .250 .300 $335,000.00 N
600109544 WORKINGE .00 .00 .00 .000 .250 .300 $370,000.00 N
600109558 BOWMAN .00 .00 .00 .000 .250 .300 $325,000.00 N
600109561 HALPERN .00 .00 .00 .000 .250 .300 $320,000.00 N
600109564 BRIGHT .00 .00 .00 .000 .250 .300 $425,000.00 N
600109571 BAIR .00 .00 .00 .000 .250 .300 $335,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 65
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109572 DAVIS 13 BRANDON OAKS PLACE WALNUT CREEK CA 94596 $352,497.43
600109574 HILL 2657 W TENAYA AVE FRESNO CA 93711 $294,560.75
600109575 ANDRE 1506 N KINGS ROAD LOS ANGELES CA 90069 $386,978.25
600109577 BRUNETTE 4422 PROSPECT AVE YORBA LINDA CA 92886 $399,209.70
600109583 VILLAS-B 2719 STUART STREET BERKELEY CA 94705 $299,596.06
600109584 FALK 6625 MT. WELLINGTON DR SAN JOSE CA 95120 $337,045.57
600109585 HIPPLER 9287 SILVER BRIDGE RD PALO CEDRO CA 96073 $315,552.50
600109586 SWITZER 1340 OAK KNOLL ROAD UKIAH CA 95482 $264,808.19
600109587 PERL 27890 MOUNT RAINIER WAY YORBA LINDA CA 92887 $407,257.74
600109588 NASH 9817 FONTE ROAD CYPRESS CA 90630 $269,597.99
600109594 MAHONEY 1812 OLIVE AVENUE SOUTH PASADENA CA 91030 $279,812.13
600109595 YOUNG 14 LITTLE POND LAGUNA NIGUEL CA 92677 $649,168.19
600109596 LEWIS 255 LA PALOMA SAN CLEMENTE CA 92672 $339,518.51
600109597 BLUM 2803 LA VENTANA SAN CLEMENTE CA 92672 $264,615.17
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109572 DAVIS 8.000 .250 7.750 .0500 7.700 08/01/2027
600109574 HILL 7.500 .250 7.250 .0500 7.200 11/01/2027
600109575 ANDRE 8.000 .250 7.750 .0500 7.700 11/01/2027
600109577 BRUNETTE 8.125 .250 7.875 .0500 7.825 10/01/2027
600109583 VILLAS-B 8.000 .250 7.750 .0500 7.700 11/01/2027
600109584 FALK 8.000 .250 7.750 .0500 7.700 11/01/2027
600109585 HIPPLER 7.750 .250 7.500 .0500 7.450 11/01/2027
600109586 SWITZER 7.625 .250 7.375 .0500 7.325 12/01/2027
600109587 PERL 7.625 .250 7.375 .0500 7.325 11/01/2027
600109588 NASH 7.500 .250 7.250 .0500 7.200 11/01/2027
600109594 MAHONEY 8.000 .250 7.750 .0500 7.700 12/01/2027
600109595 YOUNG 8.250 .250 8.000 .0500 7.950 11/01/2027
600109596 LEWIS 7.750 .250 7.500 .0500 7.450 11/01/2027
600109597 BLUM 7.625 .250 7.375 .0500 7.325 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>
600109572 DAVIS 6213557 $2,595.33 12 01/01/1998 360
600109574 HILL 6214083 $2,062.69 7 01/01/1998 360
600109575 ANDRE 6214175 $2,843.34 01/01/1998 360
600109577 BRUNETTE 6215362 $2,969.99 01/01/1998 360
600109583 VILLAS-B 6216109 $2,201.30 01/01/1998 360
600109584 FALK 6216219 $2,476.46 01/01/1998 360
600109585 HIPPLER 6216238 $2,263.86 01/01/1998 360
600109586 SWITZER 6216274 $1,875.66 01/01/1998 360
600109587 PERL 6217032 $2,886.74 01/01/1998 360
600109588 NASH 6217139 $1,887.88 01/01/1998 360
600109594 MAHONEY 6217508 $2,054.54 01/01/1998 360
600109595 YOUNG 6217624 $4,883.23 01/01/1998 360
600109596 LEWIS 6217727 $2,435.80 01/01/1998 360
600109597 BLUM 6217779 $1,875.66 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109572 DAVIS .00 .00 .00 .000 .250 .300 $400,000.00 N
600109574 HILL .00 .00 .00 .000 .250 .300 $330,000.00 N
600109575 ANDRE .00 .00 .00 .000 .250 .300 $500,000.00 N
600109577 BRUNETTE .00 .00 .00 .000 .250 .300 $500,000.00 N
600109583 VILLAS-B .00 .00 .00 .000 .250 .300 $375,000.00 N
600109584 FALK .00 .00 .00 .000 .250 .300 $450,000.00 N
600109585 HIPPLER .00 .00 .00 .000 .250 .300 $395,000.00 N
600109586 SWITZER .00 .00 .00 .000 .250 .300 $390,000.00 N
600109587 PERL .00 .00 .00 .000 .250 .300 $509,862.00 N
600109588 NASH .00 .00 .00 .000 .250 .300 $370,000.00 N
600109594 MAHONEY .00 .00 .00 .000 .250 .300 $350,000.00 N
600109595 YOUNG .00 .00 .00 .000 .250 .300 $1,000,000.00 N
600109596 LEWIS .00 .00 .00 .000 .250 .300 $545,000.00 N
600109597 BLUM .00 .00 .00 .000 .250 .300 $475,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 66
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109598 HANSON 17928 VIA CASITAS CHINO HILLS CA 91709 $252,378.20
600109600 WATSON 17301 SE 31ST STREET VANCOUVER WA 98683 $244,470.38
600109601 MARSH 4665 NW SEBLAR TERRACE PORTLAND OR 97210 $269,799.62
600109602 LINDSAY 3403 NE 19TH AVENUE PORTLAND OR 97212 $244,618.32
600109607 SALE 30922 STEEPLECHASE DRIVE SAN JUAN CAPIST CA 92675 $997,814.89
600109614 COWAN 2760 GLENCOE AVE SIMI VALLEY CA 93063 $238,902.56
600109616 PETERSSO 2045 NAPOLI DRIVE OXNARD CA 93035 $437,150.28
600109617 SANCHEZ 1095 BANCROFT COURT WALNUT CREEK CA 94598 $233,974.63
600109619 MASAKO S 1084 VIA LA PAZ LOS ANGELES CA 90732 $239,660.13
600109620 MURRAY 34 BERMUDA COURT MANHATTAN BEACH CA 90266 $338,295.55
600109621 LOWE 3526 ST ELIZABETH ROAD GLENDALE CA 91206 $254,021.20
600109622 FLORIO 4723 CASTLE ROAD LOS ANGELES CA 91011 $537,520.13
600109623 CHIDESTE 11430 N STANFORD LN CLOVIS CA 93611 $329,492.06
600109625 CAMARA 301 MOKELUMNE RIVER DRIV LODI CA 95242 $235,665.80
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109598 HANSON 7.625 .250 7.375 .0500 7.325 11/01/2027
600109600 WATSON 8.000 .250 7.750 .0500 7.700 11/01/2027
600109601 MARSH 7.500 .250 7.250 .0500 7.200 12/01/2027
600109602 LINDSAY 7.500 .250 7.250 .0500 7.200 12/01/2027
600109607 SALE 7.625 .250 7.375 .0500 7.325 10/01/2027
600109614 COWAN 7.625 .250 7.375 .0500 7.325 11/01/2027
600109616 PETERSSO 7.750 .250 7.500 .0500 7.450 09/01/2027
600109617 SANCHEZ 7.500 .250 7.250 .0500 7.200 10/01/2027
600109619 MASAKO S 7.750 .250 7.500 .0500 7.450 11/01/2027
600109620 MURRAY 7.500 .250 7.250 .0500 7.200 11/01/2027
600109621 LOWE 7.500 .250 7.250 .0500 7.200 11/01/2027
600109622 FLORIO 7.375 .250 7.125 .0500 7.075 09/01/2027
600109623 CHIDESTE 7.750 .250 7.500 .0500 7.450 11/01/2027
600109625 CAMARA 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>
600109598 HANSON 6217827 $1,796.38 12 01/01/1998 360
600109600 WATSON 6220033 $1,796.26 01/01/1998 360
600109601 MARSH 6220052 $1,887.88 01/01/1998 360
600109602 LINDSAY 6220071 $1,711.68 01/01/1998 360
600109607 SALE 6221056 $7,077.93 01/01/1998 360
600109614 COWAN 6222138 $1,693.40 01/01/1998 360
600109616 PETERSSO 6225385 $3,140.75 01/01/1998 360
600109617 SANCHEZ 6233522 $1,639.66 01/01/1998 360
600109619 MASAKO S 6263132 $1,719.39 01/01/1998 360
600109620 MURRAY 6263141 $2,368.94 01/01/1998 360
600109621 LOWE 6274139 $1,778.81 01/01/1998 360
600109622 FLORIO 6274161 $3,729.64 01/01/1998 360
600109623 CHIDESTE 6274719 $2,366.31 7 01/01/1998 360
600109625 CAMARA 6284690 $1,690.73 12 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109598 HANSON .00 .00 .00 .000 .250 .300 $297,000.00 N
600109600 WATSON .00 .00 .00 .000 .250 .300 $306,000.00 N
600109601 MARSH .00 .00 .00 .000 .250 .300 $425,000.00 N
600109602 LINDSAY .00 .00 .00 .000 .250 .300 $306,000.00 N
600109607 SALE .00 .00 .00 .000 .250 .300 $1,450,000.00 N
600109614 COWAN .00 .00 .00 .000 .250 .300 $319,000.00 N
600109616 PETERSSO .00 .00 .00 .000 .250 .300 $705,000.00 N
600109617 SANCHEZ .00 .00 .00 .000 .250 .300 $335,000.00 N
600109619 MASAKO S .00 .00 .00 .000 .250 .300 $319,000.00 N
600109620 MURRAY .00 .00 .00 .000 .250 .300 $484,000.00 N
600109621 LOWE .00 .00 .00 .000 .250 .300 $318,000.00 N
600109622 FLORIO .00 .00 .00 .000 .250 .300 $675,000.00 N
600109623 CHIDESTE .00 .00 .00 .000 .250 .300 $367,000.00 N
600109625 CAMARA .00 .00 .00 .000 .250 .300 $270,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 67
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109627 WALKER 1543 SEE CANYON RD SAN LUIS OBISPO CA 93405 $268,344.44
600109628 REHMANN 726 & 728 MOLINO AVE LONG BEACH CA 90804 $254,647.87
600109630 BELL 10867 EAST BAHIA DRIVE SCOTTSDALE AZ 85259 $299,346.40
600109632 CONRAD 3260 LILLY AVENUE LONG BEACH CA 90808 $279,792.20
600109633 HEITZMAN 18480 BERNARDO TRAILS DRI SAN DIEGO CA 92128 $376,035.21
600109636 MC CARTY 1617 W SELBY LANE REDWOOD CITY CA 94061 $282,578.63
600109638 KEOWN 319 CLEVELAND AVENUE SANTA CRUZ CA 95060 $315,552.50
600109642 CLARK 470 SILVER SHADOW DRIVE SAN MARCOS CA 92069 $280,316.51
600109647 KAPPAUF 22680 CREST VIEW LANE BEND OR 97702 $233,418.97
600109648 LOGSDON 12950 SW GLEN ROAD PORTLAND OR 97219 $279,603.47
600109651 JENSEN 5780 E CIELO RUN NORTH CAVE CREE AZ 85331 $349,308.49
600109652 CHIPMAN 3 SOUTH HARSHAW ROAD PATAGONIA AZ 85624 $348,147.80
600109654 SCOTT 133 LA SENDA RD LOS ALAMOS NM 87544 $323,552.60
600109656 STONER 24590 AVENIDA DE MARCIA YORBA LINDA CA 92887 $287,471.34
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109627 WALKER 7.750 .250 7.500 .0500 7.450 11/01/2027
600109628 REHMANN 7.875 .250 7.625 .0500 7.575 11/01/2027
600109630 BELL 8.000 .250 7.750 .0500 7.700 11/01/2027
600109632 CONRAD 7.500 .250 7.250 .0500 7.200 12/01/2027
600109633 HEITZMAN 7.750 .250 7.500 .0500 7.450 09/01/2027
600109636 MC CARTY 7.500 .250 7.250 .0500 7.200 11/01/2027
600109638 KEOWN 7.750 .250 7.500 .0500 7.450 11/01/2027
600109642 CLARK 8.125 .250 7.875 .0500 7.825 12/01/2027
600109647 KAPPAUF 7.750 .250 7.500 .0500 7.450 11/01/2027
600109648 LOGSDON 7.750 .250 7.500 .0500 7.450 11/01/2027
600109651 JENSEN 8.125 .250 7.875 .0500 7.825 10/01/2027
600109652 CHIPMAN 7.750 .250 7.500 .0500 7.450 09/01/2027
600109654 SCOTT 7.875 .250 7.625 .0500 7.575 11/01/2027
600109656 STONER 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>
600109627 WALKER 6285958 $1,927.15 01/01/1998 360
600109628 REHMANN 6294860 $1,848.93 01/01/1998 360
600109630 BELL 6297802 $2,199.46 01/01/1998 360
600109632 CONRAD 6299743 $1,957.80 01/01/1998 360
600109633 HEITZMAN 6310115 $2,708.04 01/01/1998 360
600109636 MC CARTY 6310572 $1,978.78 01/01/1998 360
600109638 KEOWN 6310612 $2,263.86 01/01/1998 360
600109642 CLARK 6310762 $2,082.71 01/01/1998 360
600109647 KAPPAUF 6311940 $1,674.62 01/01/1998 360
600109648 LOGSDON 6311948 $2,005.96 01/01/1998 360
600109651 JENSEN 6312218 $2,598.74 01/01/1998 360
600109652 CHIPMAN 6312425 $2,507.44 01/01/1998 360
600109654 SCOTT 6313197 $2,349.22 01/01/1998 360
600109656 STONER 6313535 $2,013.04 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109627 WALKER .00 .00 .00 .000 .250 .300 $365,000.00 N
600109628 REHMANN .00 .00 .00 .000 .250 .300 $340,000.00 N
600109630 BELL .00 .00 .00 .000 .250 .300 $374,692.00 N
600109632 CONRAD .00 .00 .00 .000 .250 .300 $350,000.00 N
600109633 HEITZMAN .00 .00 .00 .000 .250 .300 $610,000.00 N
600109636 MC CARTY .00 .00 .00 .000 .250 .300 $380,000.00 N
600109638 KEOWN .00 .00 .00 .000 .250 .300 $425,000.00 N
600109642 CLARK .00 .00 .00 .000 .250 .300 $355,000.00 N
600109647 KAPPAUF .00 .00 .00 .000 .250 .300 $292,222.00 N
600109648 LOGSDON .00 .00 .00 .000 .250 .300 $455,000.00 N
600109651 JENSEN .00 .00 .00 .000 .250 .300 $530,000.00 N
600109652 CHIPMAN .00 .00 .00 .000 .250 .300 $500,000.00 N
600109654 SCOTT .00 .00 .00 .000 .250 .300 $435,000.00 N
600109656 STONER .00 .00 .00 .000 .250 .300 $359,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 68
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109657 ARRIGONI 10256 N PAGE AVENUE FRESNO CA 93720 $265,247.60
600109658 WIENS 14049 OAK RIDGE LANE CLOVIS CA 93611 $420,227.61
600109662 FRENCH 19 SURREY COURT DANVILLE CA 94526 $265,104.56
600109663 THOMAS 5415 WILLOW VALLEY ROAD CLIFTON VA 20124 $268,180.11
600109666 WHITE 1782 REMINGTON LANE PARK CITY UT 84060 $339,328.25
600109669 HADLEY 220 NORTH 2400 EAST LAYTON UT 84040 $177,934.35
600109676 NISH 851 EAST OSMOND LANE PROVO UT 84604 $329,544.30
600109677 BARGER 5456 N HICKORY GLEN PLACE BOISE ID 83713 $282,565.51
600109678 BAGLEY 1503 E FREMONT ROAD BOUNTIFUL UT 84010 $319,274.95
600109679 PEROG 7370 NORTH BUCKBOARD DRIV PARK CITY UT 84098 $259,730.15
600109681 LUCERO 8716 CASTLE HILL AVENUE LAS VEGAS NV 89129 $269,729.44
600109682 TOBLER 8700 CASTLE HILL AVENUE LAS VEGAS NV 89129 $263,845.74
600109686 HYDE 1439 E PERRY'S HOLLOW DRI SALT LAKE CITY UT 84103 $307,064.54
600109687 ROBISON 29 NORTH FOXHILL ROAD NO SALT LAKE UT 84054 $259,631.81
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109657 ARRIGONI 7.875 .250 7.625 .0500 7.575 10/01/2027
600109658 WIENS 7.625 .250 7.375 .0500 7.325 11/01/2027
600109662 FRENCH 7.500 .250 7.250 .0500 7.200 11/01/2027
600109663 THOMAS 7.500 .250 7.250 .0500 7.200 11/01/2027
600109666 WHITE 8.125 .250 7.875 .0500 7.825 10/01/2027
600109669 HADLEY 7.875 .250 7.625 .0500 7.575 10/01/2027
600109676 NISH 7.875 .250 7.625 .0500 7.575 11/01/2027
600109677 BARGER 7.500 .250 7.250 .0500 7.200 10/01/2027
600109678 BAGLEY 8.000 .250 7.750 .0500 7.700 10/01/2027
600109679 PEROG 8.000 .250 7.750 .0500 7.700 12/01/2027
600109681 LUCERO 8.250 .250 8.000 .0500 7.950 10/01/2027
600109682 TOBLER 7.750 .250 7.500 .0500 7.450 09/01/2027
600109686 HYDE 7.750 .250 7.500 .0500 7.450 11/01/2027
600109687 ROBISON 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>
600109657 ARRIGONI 6314099 $1,927.24 7 01/01/1998 360
600109658 WIENS 6314132 $2,986.89 01/01/1998 360
600109662 FRENCH 6395558 $1,856.42 12 01/01/1998 360
600109663 THOMAS 7031240 $1,877.95 2 01/01/1998 360
600109666 WHITE 7135988 $2,524.49 01/01/1998 360
600109669 HADLEY 7142688 $2,338.35 01/01/1998 360
600109676 NISH 7170988 $2,392.73 01/01/1998 360
600109677 BARGER 7209131 $1,980.18 01/01/1998 360
600109678 BAGLEY 7230828 $2,348.05 01/01/1998 360
600109679 PEROG 7247824 $1,907.79 01/01/1998 360
600109681 LUCERO 7311420 $2,030.30 2 01/01/1998 360
600109682 TOBLER 7321020 $1,895.62 2 01/01/1998 360
600109686 HYDE 7392513 $2,202.97 01/01/1998 360
600109687 ROBISON 7392713 $1,862.67 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109657 ARRIGONI .00 .00 .00 .000 .250 .300 $312,750.00 N
600109658 WIENS .00 .00 .00 .000 .250 .300 $530,000.00 N
600109662 FRENCH .00 .00 .00 .000 .250 .300 $295,000.00 N
600109663 THOMAS .00 .00 .00 .000 .250 .300 $298,426.00 N
600109666 WHITE .00 .00 .00 .000 .250 .300 $425,000.00 N
600109669 HADLEY .00 .00 .00 .000 .250 .300 $432,500.00 N
600109676 NISH .00 .00 .00 .000 .250 .300 $585,000.00 N
600109677 BARGER .00 .00 .00 .000 .250 .300 $354,000.00 N
600109678 BAGLEY .00 .00 .00 .000 .250 .300 $400,000.00 N
600109679 PEROG .00 .00 .00 .000 .250 .300 $325,000.00 N
600109681 LUCERO .00 .00 .00 .000 .250 .300 $300,300.00 N
600109682 TOBLER .00 .00 .00 .000 .250 .300 $295,000.00 N
600109686 HYDE .00 .00 .00 .000 .250 .300 $605,000.00 N
600109687 ROBISON .00 .00 .00 .000 .250 .300 $590,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 69
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119923 MCKIE,MICHAEL P. 1204 HAMILTON DR. WEST CHESTER PA 19380 $225,883.54
600120133 PETERSON,GREGORY M. 25 PROSPECT STREET NEWTON MA 02156 $226,144.37
600120875 GUSTAFSSON,BO 2 ENGLISH LN PRINCETON NJ 08540 $240,667.19
600120876 LACHER,ROBERT 1375 CABERNET CT DOVER NJ 08753 $303,790.79
600120878 MANDERS,STEVEN 108 RENIASSANCE DR CHERRY HILL NJ 08003 $253,416.53
600120879 DAVEY,CATHLEEN 10 MEADOW LAKE DR MAHWAH NJ 07430 $249,832.26
600120880 INZERILLO,MICHAEL 27 LISA DR CHATHAM NJ 07928 $300,782.14
600120881 MASCH,VICTOR 94 OLD SMALLEYTOWN WARREN NJ 07059 $399,710.49
600120882 THOMPSON,JOHN 2 WAGON WAY HOLMDEL NJ 07733 $431,702.70
600120883 GALLAGHER,ROBERT 6 ROMARY COURT GLEN ROCK NJ 07452 $379,696.11
600120884 MILLER,ERIC 47 ORCHARD STREET GLEN HEAD NY 11545 $249,827.94
600120885 ORNER,HERSCH 1 ROLLING HILL LAN LAWRENCE NY 11559 $399,687.96
600120887 BLOOM,KENNETH WEST CREEK FARMS ROAD SANDS POINT NY 11050 $324,764.77
600120889 THAU,CLIFFORD 6 CAROLYN LANE CHAPPAQUA NY 10514 $399,325.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119923 MCKIE,MICHAEL P. 7.375 .200 7.175 .0400 7.135 08/01/2017
600120133 PETERSON,GREGORY M. 7.500 .200 7.300 .0400 7.260 09/01/2017
600120875 GUSTAFSSON,BO 7.875 .250 7.625 .0400 7.585 11/01/2027
600120876 LACHER,ROBERT 7.875 .250 7.625 .0400 7.585 12/01/2027
600120878 MANDERS,STEVEN 7.125 .250 6.875 .0400 6.835 12/01/2027
600120879 DAVEY,CATHLEEN 8.000 .250 7.750 .0400 7.710 12/01/2027
600120880 INZERILLO,MICHAEL 7.625 .250 7.375 .0400 7.335 12/01/2027
600120881 MASCH,VICTOR 7.625 .250 7.375 .0400 7.335 12/01/2027
600120882 THOMPSON,JOHN 7.875 .250 7.625 .0400 7.585 12/01/2027
600120883 GALLAGHER,ROBERT 7.125 .250 6.875 .0400 6.835 12/01/2027
600120884 MILLER,ERIC 7.875 .250 7.625 .0400 7.585 12/01/2027
600120885 ORNER,HERSCH 7.250 .250 7.000 .0400 6.960 12/01/2027
600120887 BLOOM,KENNETH 7.625 .250 7.375 .0400 7.335 12/01/2027
600120889 THAU,CLIFFORD 7.875 .250 7.625 .0400 7.585 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>
600119923 MCKIE,MICHAEL P. 6110696 $1,819.37 01/01/1998 240
600120133 PETERSON,GREGORY M. 6184212 $1,836.76 19 01/01/1998 240
600120875 GUSTAFSSON,BO 1101212133 $1,747.42 01/01/1998 360
600120876 LACHER,ROBERT 1101215109 $2,204.21 01/01/1998 360
600120878 MANDERS,STEVEN 1101220380 $1,724.72 01/01/1998 360
600120879 DAVEY,CATHLEEN 1101223093 $1,834.41 01/01/1998 360
600120880 INZERILLO,MICHAEL 1101224777 $2,130.46 01/01/1998 360
600120881 MASCH,VICTOR 1101224813 $2,831.18 01/01/1998 360
600120882 THOMPSON,JOHN 1101225168 $3,132.30 01/01/1998 360
600120883 GALLAGHER,ROBERT 1106071684 $2,560.14 01/01/1998 360
600120884 MILLER,ERIC 1106075652 $1,812.68 01/01/1998 360
600120885 ORNER,HERSCH 1106082590 $2,728.71 01/01/1998 360
600120887 BLOOM,KENNETH 1106084700 $2,300.33 01/01/1998 360
600120889 THAU,CLIFFORD 1106085805 $2,897.38 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119923 MCKIE,MICHAEL P. $285,000.00 N
600120133 PETERSON,GREGORY M. $240,000.00 N
600120875 GUSTAFSSON,BO $309,000.00 N
600120876 LACHER,ROBERT $380,000.00 N
600120878 MANDERS,STEVEN $320,000.00 N
600120879 DAVEY,CATHLEEN $312,500.00 N
600120880 INZERILLO,MICHAEL $390,000.00 N
600120881 MASCH,VICTOR $580,000.00 N
600120882 THOMPSON,JOHN $720,000.00 N
600120883 GALLAGHER,ROBERT $524,835.00 N
600120884 MILLER,ERIC $315,000.00 N
600120885 ORNER,HERSCH $720,000.00 N
600120887 BLOOM,KENNETH $615,000.00 N
600120889 THAU,CLIFFORD $540,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 70
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120890 RAGO,GEORGE 3090 CHEN COURT YORKTOWN HEIGHT NY 10598 $239,812.77
600120891 HERZ,KENNETH 7 ELLERY LANE WESTPORT CT 06880 $325,745.68
600120892 MEHRGUT,FABIO 456 GOLF COURT NORTH WOODMERE NY 11581 $265,816.94
600120893 TINGLEY,SAMUEL 133 1/2 HOLMES AVENU DARIEN CT 06820 $244,799.17
600120894 DIPAOLO,BARRETT 436 MANOR RIDGE ROAD PELHAM MANOR NY 10803 $319,737.70
600120896 COHEN,YUVAL 98 HICKORY ROAD BRIARCLIFF MANO NY 10510 $262,200.33
600120898 REGAN,PAUL 5586 HUNTINGTON DR CAZENOVIA NY 13035 $249,827.94
600120899 BRASINGTON,ALAN 181 LIBERTYVILLE RD NEW PALTZ NY 12561 $346,010.96
600120901 HOVER,JOHN 757 CHASE RD HILTON NY 14468 $259,530.45
600120907 SILVER,JOSEPH 132 HILAND CT COMMACK NY 11725 $274,805.90
600120908 LAZZARO,RANDALL 10 78TH ST BROOKLYN NY 11209 $295,785.76
600120909 LEDERER,WAYNE 200 GRANADA ST ATLANTIC BEACH NY 11509 $299,765.97
600120912 JENNEMANN,LESLIE 351 BRICK KILN RD BRIDGEHAMPTON NY 11932 $274,824.64
600120913 PUCCIA,VINCENT 603 161ST ST WHITESTONE NY 11357 $327,768.56
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120890 RAGO,GEORGE 7.250 .250 7.000 .0400 6.960 12/01/2027
600120891 HERZ,KENNETH 7.250 .250 7.000 .0400 6.960 12/01/2027
600120892 MEHRGUT,FABIO 7.875 .250 7.625 .0400 7.585 12/01/2027
600120893 TINGLEY,SAMUEL 7.000 .250 6.750 .0400 6.710 12/01/2027
600120894 DIPAOLO,BARRETT 7.000 .250 6.750 .0400 6.710 12/01/2027
600120896 COHEN,YUVAL 7.375 .250 7.125 .0400 7.085 12/01/2027
600120898 REGAN,PAUL 7.875 .250 7.625 .0400 7.585 12/01/2027
600120899 BRASINGTON,ALAN 8.000 .250 7.750 .0400 7.710 12/01/2027
600120901 HOVER,JOHN 7.500 .250 7.250 .0400 7.210 12/01/2017
600120907 SILVER,JOSEPH 7.750 .250 7.500 .0400 7.460 12/01/2027
600120908 LAZZARO,RANDALL 7.625 .250 7.375 .0400 7.335 12/01/2027
600120909 LEDERER,WAYNE 7.250 .250 7.000 .0400 6.960 12/01/2027
600120912 JENNEMANN,LESLIE 8.250 .250 8.000 .0400 7.960 12/01/2027
600120913 PUCCIA,VINCENT 8.500 .250 8.250 .0400 8.210 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>
600120890 RAGO,GEORGE 1106095252 $1,637.23 01/01/1998 360
600120891 HERZ,KENNETH 1106095300 $2,223.90 01/01/1998 360
600120892 MEHRGUT,FABIO 1106095514 $1,928.69 01/01/1998 360
600120893 TINGLEY,SAMUEL 1106096834 $1,630.00 01/01/1998 360
600120894 DIPAOLO,BARRETT 1106096878 $2,128.97 01/01/1998 360
600120896 COHEN,YUVAL 1106101537 $1,812.34 01/01/1998 360
600120898 REGAN,PAUL 1107024715 $1,812.68 01/01/1998 360
600120899 BRASINGTON,ALAN 1107025445 $2,614.04 01/01/1998 360
600120901 HOVER,JOHN 1107026890 $2,094.55 01/01/1998 240
600120907 SILVER,JOSEPH 1111126639 $1,970.14 01/01/1998 360
600120908 LAZZARO,RANDALL 1111137613 $2,095.07 01/01/1998 360
600120909 LEDERER,WAYNE 1111138004 $2,046.53 01/01/1998 360
600120912 JENNEMANN,LESLIE 1111141009 $2,065.99 01/01/1998 360
600120913 PUCCIA,VINCENT 1111141949 $2,522.04 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120890 RAGO,GEORGE $385,000.00 N
600120891 HERZ,KENNETH $515,000.00 N
600120892 MEHRGUT,FABIO $355,000.00 N
600120893 TINGLEY,SAMUEL $510,000.00 N
600120894 DIPAOLO,BARRETT $400,000.00 N
600120896 COHEN,YUVAL $328,000.00 N
600120898 REGAN,PAUL $357,000.00 N
600120899 BRASINGTON,ALAN $475,000.00 N
600120901 HOVER,JOHN $325,000.00 N
600120907 SILVER,JOSEPH $515,000.00 N
600120908 LAZZARO,RANDALL $370,000.00 N
600120909 LEDERER,WAYNE $450,000.00 N
600120912 JENNEMANN,LESLIE $385,000.00 N
600120913 PUCCIA,VINCENT $410,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 71
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120914 ORFEI,FRANK 43 HIGH ST W HARRISON NY 10604 $238,818.13
600120916 SMITH,BARBARA 2719 168TH ST FLUSHING NY 11358 $246,221.66
600120920 ROSSI,RICHARD 3133 O ST NW WASHINGTON DC 20007 $424,707.51
600120921 CONRAD,BILL 5415 WIDGEON CT COLORADO SPRING CO 80918 $249,827.96
600120922 PONT,JORGE 2158 CEDAR AVE MENLO PARK CA 94025 $249,819.06
600120923 LEVENSTEIN,EARLE 4570 PROVINCE LINE RO PRINCETON NJ 08540 $301,089.69
600120925 JOHNSON,FORREST 18610 DECATUR RD LOS GATOS CA 95030 $437,698.58
600120928 WILDE,JEFFREY 5314 EAST ORCHID LANE PARADISE VALLEY AZ 85253 $318,390.22
600120929 BIESER,ARTHUR 4105 VILLANOVA HOUSTON TX 77005 $382,451.42
600120930 KOPP,PETER 37 COLONIAL DRIVE HUNTINGTON NY 11743 $274,785.48
600120931 SCHWAB,JOHN 325 RHOADS AVE HADDONFIELD NJ 08033 $239,808.08
600120938 PICKARD,ROBERT 6 RUSTLER LN ROLLING HILLS E CA 90274 $439,175.62
600120941 WHALEN,TIMOTHY 3108 18TH ST SANTA MONICA CA 90405 $283,689.23
600120945 MACCOBY,MATTHEW 602 10TH ST SANTA MONICA CA 90402 $416,690.53
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120914 ORFEI,FRANK 7.375 .250 7.125 .0400 7.085 12/01/2027
600120916 SMITH,BARBARA 7.625 .250 7.375 .0400 7.335 12/01/2027
600120920 ROSSI,RICHARD 7.875 .250 7.625 .0400 7.585 12/01/2027
600120921 CONRAD,BILL 7.875 .250 7.625 .0400 7.585 12/01/2027
600120922 PONT,JORGE 7.625 .250 7.375 .0400 7.335 12/01/2027
600120923 LEVENSTEIN,EARLE 7.750 .250 7.500 .0400 7.460 12/01/2027
600120925 JOHNSON,FORREST 7.875 .250 7.625 .0400 7.585 12/01/2027
600120928 WILDE,JEFFREY 7.000 .250 6.750 .0400 6.710 12/01/2027
600120929 BIESER,ARTHUR 7.250 .250 7.000 .0400 6.960 12/01/2027
600120930 KOPP,PETER 7.250 .250 7.000 .0400 6.960 12/01/2027
600120931 SCHWAB,JOHN 7.125 .250 6.875 .0400 6.835 12/01/2027
600120938 PICKARD,ROBERT 7.750 .250 7.500 .0400 7.460 11/01/2027
600120941 WHALEN,TIMOTHY 7.500 .250 7.250 .0400 7.210 12/01/2027
600120945 MACCOBY,MATTHEW 7.500 .250 7.250 .0400 7.210 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>
600120914 ORFEI,FRANK 1111142555 $1,650.72 01/01/1998 360
600120916 SMITH,BARBARA 1111148722 $1,744.01 01/01/1998 360
600120920 ROSSI,RICHARD 1113064394 $3,081.55 01/01/1998 360
600120921 CONRAD,BILL 1113066040 $1,812.67 01/01/1998 360
600120922 PONT,JORGE 1113066549 $1,769.48 01/01/1998 360
600120923 LEVENSTEIN,EARLE 1113067010 $2,170.01 01/01/1998 360
600120925 JOHNSON,FORREST 1113069434 $3,175.80 01/01/1998 360
600120928 WILDE,JEFFREY 1114027804 $2,122.32 01/01/1998 360
600120929 BIESER,ARTHUR 1114705596 $2,611.03 01/01/1998 360
600120930 KOPP,PETER 1115003991 $1,875.98 01/01/1998 360
600120931 SCHWAB,JOHN 1161229848 $1,616.92 01/01/1998 360
600120938 PICKARD,ROBERT 1233016691 $3,152.21 01/01/1998 360
600120941 WHALEN,TIMOTHY 1233019215 $1,985.77 01/01/1998 360
600120945 MACCOBY,MATTHEW 1233020622 $2,915.72 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120914 ORFEI,FRANK $370,000.00 N
600120916 SMITH,BARBARA $308,000.00 N
600120920 ROSSI,RICHARD $536,000.00 N
600120921 CONRAD,BILL $420,000.00 N
600120922 PONT,JORGE $420,000.00 N
600120923 LEVENSTEIN,EARLE $580,000.00 N
600120925 JOHNSON,FORREST $1,100,000.00 N
600120928 WILDE,JEFFREY $420,000.00 N
600120929 BIESER,ARTHUR $515,000.00 N
600120930 KOPP,PETER $525,000.00 N
600120931 SCHWAB,JOHN $300,000.00 N
600120938 PICKARD,ROBERT $550,000.00 N
600120941 WHALEN,TIMOTHY $355,000.00 N
600120945 MACCOBY,MATTHEW $725,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 72
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120949 KYMN,THOMAS 28323 ELLA RD RANCHO PALOS VE CA 90274 $424,689.06
600120954 PAPKIN,JANET 19237 CALADERO ST TARZANA AREA CA 91356 $393,450.39
600120955 KING,MATHEW 1127 ASHLAND AVE SANTA MONICA CA 90405 $296,779.58
600120956 SINHA,SHANTANU 4047 ALBRIGHT AVE LOS ANGELES CA 90066 $244,818.17
600120960 LANG,DARREN 1806 BERYL LN NEWPORT BEACH CA 92660 $423,700.74
600120961 MOYER,ROBERT 5810 RANCH VIEW RD OCEANSIDE CA 92057 $253,811.50
600120966 CORRY,STEVEN 1623 INDIAN WELLS DRI BOULDER CITY NV 89005 $255,819.31
600120970 WONG,ANTONIO 6523 CHAMPLAIN TERRAC DAVIE FL 33331 $254,820.02
600120971 SINACOLA,DAVID 22386 WORCESTER NOVI MI 48374 $295,791.09
600120976 SHIRLEY,SYLVIA 1504 GLENWOOD OKLAHOMA CITY OK 73116 $241,815.86
600120987 MILEWSKI,EDWARD 1884 N CALLE SALTO THOUSAND OAKS CA 91360 $312,561.99
600120990 MOKLER,RICHARD 645 EAST MICHELTOREN SANTA BARBARA CA 93103 $374,454.69
600120991 ABRAMS,DARYL 257 MORADA LANE SANTA BARBARA CA 93105 $399,695.63
600120992 BUCK,VERONICA 486 ALAN ROAD SANTA BARBARA CA 93109 $349,740.25
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120949 KYMN,THOMAS 7.875 .250 7.625 .0400 7.585 12/01/2027
600120954 PAPKIN,JANET 7.375 .250 7.125 .0400 7.085 12/01/2027
600120955 KING,MATHEW 7.500 .250 7.250 .0400 7.210 12/01/2027
600120956 SINHA,SHANTANU 7.500 .250 7.250 .0400 7.210 12/01/2027
600120960 LANG,DARREN 7.750 .250 7.500 .0400 7.460 12/01/2027
600120961 MOYER,ROBERT 7.500 .250 7.250 .0400 7.210 12/01/2027
600120966 CORRY,STEVEN 7.750 .250 7.500 .0400 7.460 12/01/2027
600120970 WONG,ANTONIO 7.750 .250 7.500 .0400 7.460 12/01/2027
600120971 SINACOLA,DAVID 7.750 .250 7.500 .0400 7.460 12/01/2027
600120976 SHIRLEY,SYLVIA 7.375 .250 7.125 .0400 7.085 12/01/2027
600120987 MILEWSKI,EDWARD 7.375 .250 7.125 .0400 7.085 12/01/2027
600120990 MOKLER,RICHARD 7.375 .250 7.125 .0400 7.085 12/01/2027
600120991 ABRAMS,DARYL 7.375 .250 7.125 .0400 7.085 12/01/2027
600120992 BUCK,VERONICA 7.500 .250 7.250 .0400 7.210 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>
600120949 KYMN,THOMAS 1233021385 $3,081.55 01/01/1998 360
600120954 PAPKIN,JANET 1234009294 $2,719.53 01/01/1998 360
600120955 KING,MATHEW 1234010045 $2,076.67 01/01/1998 360
600120956 SINHA,SHANTANU 1234010726 $1,713.08 01/01/1998 360
600120960 LANG,DARREN 1236006537 $3,037.59 01/01/1998 360
600120961 MOYER,ROBERT 1243006297 $1,776.00 01/01/1998 360
600120966 CORRY,STEVEN 1251154904 $1,834.02 01/01/1998 360
600120970 WONG,ANTONIO 1311309075 $1,826.85 01/01/1998 360
600120971 SINACOLA,DAVID 1412018499 $2,120.58 01/01/1998 360
600120976 SHIRLEY,SYLVIA 1456011679 $1,671.43 01/01/1998 360
600120987 MILEWSKI,EDWARD 1482017140 $2,160.43 01/01/1998 360
600120990 MOKLER,RICHARD 1484008720 $2,590.03 01/01/1998 360
600120991 ABRAMS,DARYL 1484009187 $2,762.70 01/01/1998 360
600120992 BUCK,VERONICA 1484009610 $2,447.25 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120949 KYMN,THOMAS $540,000.00 N
600120954 PAPKIN,JANET $525,000.00 N
600120955 KING,MATHEW $425,000.00 N
600120956 SINHA,SHANTANU $325,000.00 N
600120960 LANG,DARREN $530,000.00 N
600120961 MOYER,ROBERT $317,500.00 N
600120966 CORRY,STEVEN $340,000.00 N
600120970 WONG,ANTONIO $340,000.00 N
600120971 SINACOLA,DAVID $450,000.00 N
600120976 SHIRLEY,SYLVIA $495,000.00 N
600120987 MILEWSKI,EDWARD $391,000.00 N
600120990 MOKLER,RICHARD $575,000.00 N
600120991 ABRAMS,DARYL $510,000.00 N
600120992 BUCK,VERONICA $470,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 73
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120993 BERWAGER,BRUCE 335 SIERRA VISTA ROA SANTA BARBARA CA 93108 $399,695.63
600120995 HADEN,MICHAEL 1126 PORTESUELLO AVEN SANTA BARBARA CA 93105 $307,771.42
600120999 BENOIT,JOHN 1059 WEST MCKINLEY AV SUNNYVALE CA 94086 $283,778.45
600121003 CHILDS,EDWARD 137 LAUREL DRIVE CARMEL VALLEY CA 93924 $271,288.20
600121010 SELIGSON,MARTIN 1235 EAST MOUNTAIN DR SANTA BARBARA CA 93108 $292,793.20
600121012 YARVIS,RICHARD 4486 GLEN CANNON DRIV SUISON CITY CA 94585 $291,777.81
600121014 MARSHALL,GARY 574 PANORAMIC HIGHWA MILL VALLEY CA 94941 $331,753.61
600121020 PEARCE,RICHARD 2726 EAST BRIDGEPORT SALT LAKE CITY UT 84121 $305,789.42
600121023 KNEZEVIC,ROBERT 5 S BROADWAY DOBBS FERRY NY 10522 $351,750.86
600121027 ASMAR,AMER 7265 10 HILL DRIVE WEST BLOOMFIELD MI 48322 $285,466.81
600121028 GIELLA,JOHN 8 WEDGE WAY MONTEBELLO NY 10901 $384,714.27
600121033 GINOTT,DAVID 650 LAKE AVE GREENWICH CT 06830 $999,311.81
600121034 KAY,KENNETH 22 FAIRWAY DRIVE WEST WINDSOR TW NJ 08512 $239,651.50
600121035 KRYLA,STANLEY 133 ROYAL DRIVE BRICK NJ 08723 $269,304.95
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120993 BERWAGER,BRUCE 7.375 .250 7.125 .0400 7.085 12/01/2027
600120995 HADEN,MICHAEL 7.500 .250 7.250 .0400 7.210 12/01/2027
600120999 BENOIT,JOHN 7.250 .250 7.000 .0400 6.960 12/01/2027
600121003 CHILDS,EDWARD 7.250 .250 7.000 .0400 6.960 12/01/2027
600121010 SELIGSON,MARTIN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121012 YARVIS,RICHARD 7.375 .250 7.125 .0400 7.085 12/01/2027
600121014 MARSHALL,GARY 7.500 .250 7.250 .0400 7.210 12/01/2027
600121020 PEARCE,RICHARD 7.875 .250 7.625 .0400 7.585 12/01/2027
600121023 KNEZEVIC,ROBERT 8.125 .250 7.875 .0400 7.835 10/01/2027
600121027 ASMAR,AMER 8.500 .250 8.250 .0400 8.210 09/01/2027
600121028 GIELLA,JOHN 7.500 .250 7.250 .0400 7.210 12/01/2027
600121033 GINOTT,DAVID 7.875 .250 7.625 .0400 7.585 12/01/2027
600121034 KAY,KENNETH 7.625 .250 7.375 .0400 7.335 11/01/2027
600121035 KRYLA,STANLEY 7.625 .250 7.375 .0400 7.335 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>
600120993 BERWAGER,BRUCE 1484009824 $2,762.70 01/01/1998 360
600120995 HADEN,MICHAEL 1484010823 $2,153.58 01/01/1998 360
600120999 BENOIT,JOHN 1489008206 $1,937.38 01/01/1998 360
600121003 CHILDS,EDWARD 1489009490 $1,852.11 01/01/1998 360
600121010 SELIGSON,MARTIN 1494003438 $2,099.09 01/01/1998 360
600121012 YARVIS,RICHARD 1494004179 $2,016.77 01/01/1998 360
600121014 MARSHALL,GARY 1495005155 $2,321.39 01/01/1998 360
600121020 PEARCE,RICHARD 1497018318 $2,218.71 01/01/1998 360
600121023 KNEZEVIC,ROBERT 1500367460 $2,617.30 01/01/1998 360
600121027 ASMAR,AMER 1500375220 $2,203.71 01/01/1998 360
600121028 GIELLA,JOHN 1500385756 $2,691.98 01/01/1998 360
600121033 GINOTT,DAVID 1500393765 $7,250.69 01/01/1998 360
600121034 KAY,KENNETH 1500393889 $1,698.70 01/01/1998 360
600121035 KRYLA,STANLEY 1500394000 $1,907.50 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120993 BERWAGER,BRUCE $560,000.00 N
600120995 HADEN,MICHAEL $385,000.00 N
600120999 BENOIT,JOHN $359,000.00 N
600121003 CHILDS,EDWARD $460,000.00 N
600121010 SELIGSON,MARTIN $1,400,000.00 N
600121012 YARVIS,RICHARD $670,000.00 N
600121014 MARSHALL,GARY $415,000.00 N
600121020 PEARCE,RICHARD $430,000.00 N
600121023 KNEZEVIC,ROBERT $470,000.00 N
600121027 ASMAR,AMER $441,000.00 N
600121028 GIELLA,JOHN $530,000.00 N
600121033 GINOTT,DAVID $1,555,000.00 N
600121034 KAY,KENNETH $300,000.00 N
600121035 KRYLA,STANLEY $368,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 74
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121037 DAMTY,AMNON 4 MAGNOLIA DR GREAT NECK NY 11021 $374,507.74
600121038 FITZSIMMONS,BRIAN 91 POST OFFICE RD SOUTH SALEM NY 10590 $321,943.45
600121039 MORRIS,GREGORY 201 HAMILTON RD RIDGEWOOD NJ 07450 $325,973.12
600121040 ARMENIO,JOHN 10 SHERWOOD CRESENT DIX HILLS NY 11746 $299,575.15
600121045 GRUNDSET,RONNIE 3556 NW 21ST PLACE GAINESVILLE FL 32606 $304,046.43
600121046 KNUDSEN,LEESA 11164 THE STRAND TRUCKEE CA 96161 $241,174.70
600121048 DILMAGHANI,ASSADOLLAH 23 SHERWOOD GATE OYSTER BAY NY 11771 $369,709.44
600121051 BRUH,MICHAEL 63 TURF LANE ROSYLN HEIGHTS NY 11577 $344,591.17
600121052 GARTMAN,CHARLES 21 WENDT AVENUE LARCHMONT NY 10538 $377,733.21
600121055 PROPP,WILLIAM 596 DON PROPP RD AZLE TX 76020 $289,589.31
600121057 GIERADA,DAVID 8019 CRESCENT DR CLAYTON MO 63105 $287,796.73
600121059 GARCIA,PHIL 9400 BALCOM AVENUE NORTHRIDGE CA 91325 $246,131.08
600121060 HARRIS,ALAN 4425 ARCADY AVE HIGHLAND PARK TX 75205 $449,346.53
600121062 GAYDOS,EDMUND 2821 CLAYTON FOREST C ST LOUIS MO 63131 $401,716.27
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121037 DAMTY,AMNON 8.125 .250 7.875 .0400 7.835 11/01/2027
600121038 FITZSIMMONS,BRIAN 7.750 .250 7.500 .0400 7.460 11/01/2027
600121039 MORRIS,GREGORY 7.625 .250 7.375 .0400 7.335 11/01/2027
600121040 ARMENIO,JOHN 7.750 .250 7.500 .0400 7.460 11/01/2027
600121045 GRUNDSET,RONNIE 7.500 .250 7.250 .0400 7.210 11/01/2027
600121046 KNUDSEN,LEESA 8.000 .250 7.750 .0400 7.710 11/01/2027
600121048 DILMAGHANI,ASSADOLLAH 7.625 .250 7.375 .0400 7.335 12/01/2027
600121051 BRUH,MICHAEL 8.625 .250 8.375 .0400 8.335 11/01/2027
600121052 GARTMAN,CHARLES 7.750 .250 7.500 .0400 7.460 12/01/2027
600121055 PROPP,WILLIAM 7.750 .250 7.500 .0400 7.460 11/01/2027
600121057 GIERADA,DAVID 7.750 .250 7.500 .0400 7.460 12/01/2027
600121059 GARCIA,PHIL 7.750 .250 7.500 .0400 7.460 10/01/2027
600121060 HARRIS,ALAN 7.625 .250 7.375 .0400 7.335 11/01/2027
600121062 GAYDOS,EDMUND 7.750 .250 7.500 .0400 7.460 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>
600121037 DAMTY,AMNON 1500394928 $2,784.36 01/01/1998 360
600121038 FITZSIMMONS,BRIAN 1500394950 $2,309.71 01/01/1998 360
600121039 MORRIS,GREGORY 1500395953 $2,335.72 01/01/1998 360
600121040 ARMENIO,JOHN 1500397212 $2,149.24 01/01/1998 360
600121045 GRUNDSET,RONNIE 1500400500 $2,129.11 01/01/1998 360
600121046 KNUDSEN,LEESA 1500400747 $1,772.78 01/01/1998 360
600121048 DILMAGHANI,ASSADOLLAH 1500401138 $2,618.84 01/01/1998 360
600121051 BRUH,MICHAEL 1500402130 $2,683.37 01/01/1998 360
600121052 GARTMAN,CHARLES 1500403155 $2,708.04 01/01/1998 360
600121055 PROPP,WILLIAM 1504080080 $2,077.60 01/01/1998 360
600121057 GIERADA,DAVID 1504169617 $2,063.27 01/01/1998 360
600121059 GARCIA,PHIL 1504171765 $1,776.70 01/01/1998 360
600121060 HARRIS,ALAN 1504174253 $3,185.08 01/01/1998 360
600121062 GAYDOS,EDMUND 1504178276 $2,879.98 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121037 DAMTY,AMNON $500,005.00 N
600121038 FITZSIMMONS,BRIAN $403,000.00 N
600121039 MORRIS,GREGORY $485,000.00 N
600121040 ARMENIO,JOHN $430,000.00 N
600121045 GRUNDSET,RONNIE $390,000.00 N
600121046 KNUDSEN,LEESA $302,000.00 N
600121048 DILMAGHANI,ASSADOLLAH $592,000.00 N
600121051 BRUH,MICHAEL $442,000.00 N
600121052 GARTMAN,CHARLES $765,000.00 N
600121055 PROPP,WILLIAM $370,000.00 N
600121057 GIERADA,DAVID $367,000.00 N
600121059 GARCIA,PHIL $340,000.00 N
600121060 HARRIS,ALAN $700,000.00 N
600121062 GAYDOS,EDMUND $790,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 75
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121068 MCDONALD,CAROL 1238 VISTA DEL MONTE EL CAJON CA 92020 $339,493.76
600121069 KOLLMYER,WILLIAM 7047 OROZCO DR RIVERSIDE CA 92506 $361,762.26
600121072 ANDRADE,NICHOLAS 3136 JOANNE CIRCLE PLEASANTON CA 94588 $361,500.12
600121073 MINKOVICH,ALEX 2337 MAXIMILIAN DRIVE CAMPBELL CA 95008 $236,089.66
600121075 WYNN,RONALD 100 SYCAMORE AVE MILL VALLEY CA 94941 $449,346.55
600121076 MCCLELLAN,JAMES 2665 PARK AVENUE LAGONA BEACH CA 92651 $239,642.65
600121077 CARNE,JAMES 3807 SHAD DR LOS ANGELES CA 90732 $255,655.31
600121080 MONTGOMERY,MARK 20 SENTRY HILL LAGUNA NIGUEL CA 92677 $446,891.39
600121082 RIFE,MICHELLE 1166 BENT DR CAMPBELL CA 95008 $364,495.97
600121083 WILSON,WALTER 9211 N EGRET CT GILROY CA 95020 $240,388.54
600121084 LEDERMAN,ROBERT 24804 PARCHMAN AVE SANTA CLARITA CA 91321 $243,627.52
600121085 SCHROCK,LAURA 4259 WILKINSON AVENUE STUDIO CITY CA 91604 $256,427.10
600121086 CHIU,KWOK 5544 OAK PARK DRIVE SAN JOSE CA 95129 $279,577.24
600121091 POSADA,JIMMY 1909 SHADYWOOD CT CONCORD CA 94521 $289,415.62
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121068 MCDONALD,CAROL 7.500 .250 7.250 .0400 7.210 11/01/2027
600121069 KOLLMYER,WILLIAM 8.000 .250 7.750 .0400 7.710 11/01/2027
600121072 ANDRADE,NICHOLAS 7.875 .250 7.625 .0400 7.585 11/01/2027
600121073 MINKOVICH,ALEX 8.125 .250 7.875 .0400 7.835 11/01/2027
600121075 WYNN,RONALD 7.625 .250 7.375 .0400 7.335 11/01/2027
600121076 MCCLELLAN,JAMES 7.500 .250 7.250 .0400 7.210 11/01/2027
600121077 CARNE,JAMES 8.000 .250 7.750 .0400 7.710 11/01/2027
600121080 MONTGOMERY,MARK 7.625 .250 7.375 .0400 7.335 11/01/2027
600121082 RIFE,MICHELLE 7.875 .250 7.625 .0400 7.585 11/01/2027
600121083 WILSON,WALTER 7.500 .250 7.250 .0400 7.210 11/01/2027
600121084 LEDERMAN,ROBERT 7.375 .250 7.125 .0400 7.085 11/01/2027
600121085 SCHROCK,LAURA 7.625 .250 7.375 .0400 7.335 11/01/2027
600121086 CHIU,KWOK 8.000 .250 7.750 .0400 7.710 11/01/2027
600121091 POSADA,JIMMY 7.375 .250 7.125 .0400 7.085 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>
600121068 MCDONALD,CAROL 1506321494 $2,377.33 01/01/1998 360
600121069 KOLLMYER,WILLIAM 1506325790 $2,658.06 01/01/1998 360
600121072 ANDRADE,NICHOLAS 1506338646 $2,624.75 01/01/1998 360
600121073 MINKOVICH,ALEX 1506339354 $1,755.27 01/01/1998 360
600121075 WYNN,RONALD 1506339627 $3,185.07 01/01/1998 360
600121076 MCCLELLAN,JAMES 1506339922 $1,678.12 01/01/1998 360
600121077 CARNE,JAMES 1506346087 $1,878.44 01/01/1998 360
600121080 MONTGOMERY,MARK 1506348901 $3,170.92 01/01/1998 360
600121082 RIFE,MICHELLE 1506351575 $2,646.50 01/01/1998 360
600121083 WILSON,WALTER 1506351597 $1,683.36 01/01/1998 360
600121084 LEDERMAN,ROBERT 1506352352 $1,685.25 01/01/1998 360
600121085 SCHROCK,LAURA 1506352396 $1,817.61 01/01/1998 360
600121086 CHIU,KWOK 1506352578 $2,054.54 01/01/1998 360
600121091 POSADA,JIMMY 1506354507 $2,002.96 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121068 MCDONALD,CAROL $425,000.00 N
600121069 KOLLMYER,WILLIAM $483,000.00 N
600121072 ANDRADE,NICHOLAS $495,000.00 N
600121073 MINKOVICH,ALEX $300,000.00 N
600121075 WYNN,RONALD $600,000.00 N
600121076 MCCLELLAN,JAMES $400,000.00 N
600121077 CARNE,JAMES $320,000.00 N
600121080 MONTGOMERY,MARK $560,000.00 N
600121082 RIFE,MICHELLE $522,000.00 N
600121083 WILSON,WALTER $300,970.00 N
600121084 LEDERMAN,ROBERT $305,000.00 N
600121085 SCHROCK,LAURA $321,000.00 N
600121086 CHIU,KWOK $470,000.00 N
600121091 POSADA,JIMMY $415,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 76
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121092 KAYICHIAN,HRATCH 4605 LEIR DR LA CANADA FLINT CA 91011 $395,706.11
600121094 RYSER,MARK 702 HARDELL LN VISTA CA 92084 $264,595.47
600121096 WONG,STEPHEN 101 S HELBERTA AV REDONDO BEACH CA 90277 $353,721.84
600121099 TAORMINA,ROBERT 14520 SHADOWLANE COURT MORGAN HILL CA 95037 $304,545.89
600121101 ROHRENBACH,SHERAL 6381 RASPBERRY CT GILROY CA 95020 $239,592.72
600121103 NAKANISHI,GARY 21592 COLUMBUS AVE CUPERTINO CA 95014 $380,931.99
600121104 NOLIN,FORREST 4999 PUESTA DEL SOL MALIBU CA 90265 $567,195.63
600121105 ORTIZ,DAVID 206 8TH STREET HUNTINGTON BEAC CA 92648 $371,511.67
600121107 RIVERA,JOSE 352 CORBETT CANYON D ARROYO GRANDE CA 93420 $287,592.15
600121108 CARVER,JOHN 7635 W ZAYANTE RD FELTON CA 95018 $299,575.15
600121109 LUND,RUSSELL 8406 LOYOLA BLVD LOS ANGELES CA 90045 $279,593.41
600121112 BUEHLER,DAVID 21779 YBARRA RD WOODLAND HILLS CA 91364 $351,767.45
600121115 ELERICK,PAUL 2120 HUNTINGTON DR APTOS CA 95003 $279,613.36
600121116 AVILES,MARIO 2775 VENADO CAMINO WALNUT CREEK CA 94598 $267,472.57
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121092 KAYICHIAN,HRATCH 7.500 .250 7.250 .0400 7.210 12/01/2027
600121094 RYSER,MARK 7.375 .250 7.125 .0400 7.085 11/01/2027
600121096 WONG,STEPHEN 7.875 .250 7.625 .0400 7.585 11/01/2027
600121099 TAORMINA,ROBERT 7.500 .250 7.250 .0400 7.210 11/01/2027
600121101 ROHRENBACH,SHERAL 7.500 .250 7.250 .0400 7.210 11/01/2027
600121103 NAKANISHI,GARY 7.500 .250 7.250 .0400 7.210 11/01/2027
600121104 NOLIN,FORREST 7.750 .250 7.500 .0400 7.460 11/01/2027
600121105 ORTIZ,DAVID 8.125 .250 7.875 .0400 7.835 11/01/2027
600121107 RIVERA,JOSE 7.750 .250 7.500 .0400 7.460 11/01/2027
600121108 CARVER,JOHN 7.750 .250 7.500 .0400 7.460 11/01/2027
600121109 LUND,RUSSELL 7.625 .250 7.375 .0400 7.335 11/01/2027
600121112 BUEHLER,DAVID 7.875 .250 7.625 .0400 7.585 10/01/2027
600121115 ELERICK,PAUL 7.875 .250 7.625 .0400 7.585 11/01/2027
600121116 AVILES,MARIO 7.500 .250 7.250 .0400 7.210 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>
600121092 KAYICHIAN,HRATCH 1506354540 $2,768.89 01/01/1998 360
600121094 RYSER,MARK 1506355102 $1,830.29 01/01/1998 360
600121096 WONG,STEPHEN 1506355838 $2,574.00 01/01/1998 360
600121099 TAORMINA,ROBERT 1506356331 $2,132.60 01/01/1998 360
600121101 ROHRENBACH,SHERAL 1506357469 $1,677.77 01/01/1998 360
600121103 NAKANISHI,GARY 1506358188 $2,667.50 01/01/1998 360
600121104 NOLIN,FORREST 1506359894 $4,069.22 01/01/1998 360
600121105 ORTIZ,DAVID 1506360099 $2,762.09 01/01/1998 360
600121107 RIVERA,JOSE 1506361885 $2,063.27 01/01/1998 360
600121108 CARVER,JOHN 1506362301 $2,149.24 01/01/1998 360
600121109 LUND,RUSSELL 1506362720 $1,981.82 01/01/1998 360
600121112 BUEHLER,DAVID 1506363905 $2,555.87 01/01/1998 360
600121115 ELERICK,PAUL 1506365740 $2,030.19 01/01/1998 360
600121116 AVILES,MARIO 1506366743 $1,873.89 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121092 KAYICHIAN,HRATCH $495,000.00 N
600121094 RYSER,MARK $393,000.00 N
600121096 WONG,STEPHEN $460,000.00 N
600121099 TAORMINA,ROBERT $440,000.00 N
600121101 ROHRENBACH,SHERAL $299,955.00 N
600121103 NAKANISHI,GARY $615,000.00 N
600121104 NOLIN,FORREST $710,000.00 N
600121105 ORTIZ,DAVID $465,000.00 N
600121107 RIVERA,JOSE $375,000.00 N
600121108 CARVER,JOHN $500,000.00 N
600121109 LUND,RUSSELL $379,000.00 N
600121112 BUEHLER,DAVID $470,000.00 N
600121115 ELERICK,PAUL $358,000.00 N
600121116 AVILES,MARIO $335,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 77
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121117 ALLEN,PATRICK 2488 MARBURY ROAD LIVERMORE CA 94550 $283,607.82
600121118 NISHIYAMA,ROBERT 4047 W 178TH ST TORRANCE CA 90504 $249,654.77
600121119 COPE,LARRY 3 BLUECOAT IRVINE CA 92620 $259,649.92
600121122 ABOOTORABI,ABBAS 3015 MCKINLEY DR SANTA CLARA CA 95051 $258,060.80
600121123 NG,ALBERT 23329 HENRY CT TORRANCE CA 90505 $367,005.20
600121128 KIM,CHONG 5132 ROSE WAY UNION CITY CA 94587 $268,419.33
600121130 KANDT,RICHARD 7527 AGNEW AVE LOS ANGELES CA 90046 $403,700.17
600121132 NAHRSTEDT,DONALD 158 SUNNYHILL CT VENTURA CA 93003 $243,818.91
600121135 GUARIENTO,CARLO 350 WARWICK DR WALNUT CREEK CA 94598 $265,802.59
600121137 WILLIAMS,LLOYD 24546 APPLE STREET NEWHALL CA 91321 $239,642.67
600121138 WEINER,DAVID 2519 WHITNEY HILL RD CHARLOTTE NC 28226 $345,013.67
600121139 REDISH,MARTIN 810 BOB-O-LINK RD HIGHLAND PARK IL 60035 $354,484.49
600121140 DELIE,DALE 1746 SKYLINE DRIVE ROCHESTER HILLS MI 48306 $303,972.92
600121142 MARUSHIN,JOHN 202 S GUADALUPE RADONDO BEACH CA 90277 $349,233.47
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121117 ALLEN,PATRICK 7.875 .250 7.625 .0400 7.585 11/01/2027
600121118 NISHIYAMA,ROBERT 7.875 .250 7.625 .0400 7.585 11/01/2027
600121119 COPE,LARRY 8.000 .250 7.750 .0400 7.710 11/01/2027
600121122 ABOOTORABI,ABBAS 8.125 .250 7.875 .0400 7.835 11/01/2027
600121123 NG,ALBERT 8.000 .250 7.750 .0400 7.710 11/01/2027
600121128 KIM,CHONG 7.750 .250 7.500 .0400 7.460 11/01/2027
600121130 KANDT,RICHARD 7.500 .250 7.250 .0400 7.210 12/01/2027
600121132 NAHRSTEDT,DONALD 7.500 .250 7.250 .0400 7.210 12/01/2027
600121135 GUARIENTO,CARLO 7.500 .250 7.250 .0400 7.210 12/01/2027
600121137 WILLIAMS,LLOYD 7.500 .250 7.250 .0400 7.210 11/01/2027
600121138 WEINER,DAVID 7.750 .250 7.500 .0400 7.460 09/01/2027
600121139 REDISH,MARTIN 7.625 .250 7.375 .0400 7.335 11/01/2027
600121140 DELIE,DALE 8.000 .250 7.750 .0400 7.710 09/01/2027
600121142 MARUSHIN,JOHN 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>
600121117 ALLEN,PATRICK 1506366936 $2,059.20 01/01/1998 360
600121118 NISHIYAMA,ROBERT 1506368035 $1,812.68 01/01/1998 360
600121119 COPE,LARRY 1506368283 $1,907.79 01/01/1998 360
600121122 ABOOTORABI,ABBAS 1506369082 $1,918.61 01/01/1998 360
600121123 NG,ALBERT 1506370128 $2,696.58 01/01/1998 360
600121128 KIM,CHONG 1506370729 $1,925.72 01/01/1998 360
600121130 KANDT,RICHARD 1506371380 $2,824.83 01/01/1998 360
600121132 NAHRSTEDT,DONALD 1506374275 $1,706.09 01/01/1998 360
600121135 GUARIENTO,CARLO 1506376791 $1,859.91 01/01/1998 360
600121137 WILLIAMS,LLOYD 1506378888 $1,678.11 01/01/1998 360
600121138 WEINER,DAVID 1507290498 $2,478.79 01/01/1998 360
600121139 REDISH,MARTIN 1507299368 $2,512.67 01/01/1998 360
600121140 DELIE,DALE 1507302961 $2,236.51 01/01/1998 360
600121142 MARUSHIN,JOHN 1507306736 $2,477.28 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121117 ALLEN,PATRICK $357,000.00 N
600121118 NISHIYAMA,ROBERT $330,000.00 N
600121119 COPE,LARRY $325,000.00 N
600121122 ABOOTORABI,ABBAS $323,000.00 N
600121123 NG,ALBERT $460,000.00 N
600121128 KIM,CHONG $336,000.00 N
600121130 KANDT,RICHARD $505,000.00 N
600121132 NAHRSTEDT,DONALD $305,000.00 N
600121135 GUARIENTO,CARLO $335,000.00 N
600121137 WILLIAMS,LLOYD $300,000.00 N
600121138 WEINER,DAVID $436,000.00 N
600121139 REDISH,MARTIN $480,000.00 N
600121140 DELIE,DALE $390,000.00 N
600121142 MARUSHIN,JOHN $456,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 78
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121143 BOLGER,EDWARD 29821 NW 8TH ST JAMES WAULESHA WI 53188 $311,351.60
600121144 CHRISTOFFERSON,JEFFRY 5044 NITTA YUMA ROAD HARRODS CREEK KY 40027 $973,687.19
600121148 BARRINGTON,MICHAEL 52 WESTOVER TERRACE FORT WORTH TX 76107 $956,284.76
600121152 BANZ,MARK 6377 BRIGANTINE LN ROCKFORD IL 61114 $299,585.73
600121157 HOOVER,MARK 2112 JORDAN TERRACE BUFFALO GROVE IL 60089 $274,580.20
600121159 VOELKER,CRAIG 1440 WILMETTE STREET WHEATON IL 60187 $327,511.64
600121160 JOHNSON,TODD 9253 THORNHILL DR CLARKSTON MI 48348 $370,931.34
600121162 KALFAYAN,VAHE 4818 DON JUAN PLACE LOS ANGELES CA 91364 $297,109.47
600121166 WALLY,ROBERT 13254 ENID BLVD FENTON MI 48430 $239,684.94
600121169 STATLER,JEAN 4273 N VACATION LN ARLINGTON VA 22207 $365,840.69
600121170 MURAD,DALE 6131 TOMKINS DR MCLEAN VA 22101 $243,627.51
600121177 HO,JOHN 1789 MORGAN LANE COLLEGEVILLE PA 19426 $286,197.86
600121179 SCHERMERHORN,GARY 1038 RIVERSIDE DR LAGRANGE GA 30240 $269,617.63
600121181 BARNES,ROBERT 510 VICKSBURG LANE LEBANON TN 37087 $276,627.04
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121143 BOLGER,EDWARD 7.875 .250 7.625 .0400 7.585 10/01/2027
600121144 CHRISTOFFERSON,JEFFRY 8.000 .250 7.750 .0400 7.710 11/01/2027
600121148 BARRINGTON,MICHAEL 7.750 .250 7.500 .0400 7.460 11/01/2027
600121152 BANZ,MARK 7.875 .250 7.625 .0400 7.585 11/01/2027
600121157 HOOVER,MARK 7.375 .250 7.125 .0400 7.085 11/01/2027
600121159 VOELKER,CRAIG 7.500 .250 7.250 .0400 7.210 11/01/2027
600121160 JOHNSON,TODD 7.625 .250 7.375 .0400 7.335 12/01/2027
600121162 KALFAYAN,VAHE 8.125 .250 7.875 .0400 7.835 11/01/2027
600121166 WALLY,ROBERT 8.125 .250 7.875 .0400 7.835 11/01/2027
600121169 STATLER,JEAN 7.375 .250 7.125 .0400 7.085 11/01/2027
600121170 MURAD,DALE 7.375 .250 7.125 .0400 7.085 11/01/2027
600121177 HO,JOHN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121179 SCHERMERHORN,GARY 7.750 .250 7.500 .0400 7.460 11/01/2027
600121181 BARNES,ROBERT 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>
600121143 BOLGER,EDWARD 1507308797 $2,262.22 01/01/1998 360
600121144 CHRISTOFFERSON,JEFFRY 1507313593 $7,154.24 01/01/1998 360
600121148 BARRINGTON,MICHAEL 1507320318 $6,866.82 01/01/1998 360
600121152 BANZ,MARK 1507322357 $2,175.21 01/01/1998 360
600121157 HOOVER,MARK 1507330752 $1,899.36 01/01/1998 360
600121159 VOELKER,CRAIG 1507331121 $2,293.42 01/01/1998 360
600121160 JOHNSON,TODD 1507331450 $2,627.33 01/01/1998 360
600121162 KALFAYAN,VAHE 1507332215 $2,208.93 01/01/1998 360
600121166 WALLY,ROBERT 1507334786 $1,782.00 01/01/1998 360
600121169 STATLER,JEAN 1507337015 $2,530.63 01/01/1998 360
600121170 MURAD,DALE 1507337762 $1,685.25 01/01/1998 360
600121177 HO,JOHN 1507347187 $2,051.81 01/01/1998 360
600121179 SCHERMERHORN,GARY 1511178298 $1,934.32 01/01/1998 360
600121181 BARNES,ROBERT 1511185158 $2,032.53 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121143 BOLGER,EDWARD $390,000.00 N
600121144 CHRISTOFFERSON,JEFFRY $1,300,000.00 N
600121148 BARRINGTON,MICHAEL $1,700,000.00 N
600121152 BANZ,MARK $460,000.00 N
600121157 HOOVER,MARK $575,000.00 N
600121159 VOELKER,CRAIG $410,000.00 N
600121160 JOHNSON,TODD $464,000.00 N
600121162 KALFAYAN,VAHE $400,000.00 N
600121166 WALLY,ROBERT $320,000.00 N
600121169 STATLER,JEAN $458,000.00 N
600121170 MURAD,DALE $305,000.00 N
600121177 HO,JOHN $358,000.00 N
600121179 SCHERMERHORN,GARY $337,500.00 N
600121181 BARNES,ROBERT $352,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 79
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121182 OLIVER,HAROLD LOT 1 HORSE POINT S/D BLUE RIDGE GA 30513 $249,663.40
600121183 LEONARD,MALCOLM 33 N BOUNTY LANE KEY LARGO FL 33037 $374,259.77
600121184 DALLENBACH,MARY 517 AIKEN RD SHELBYVILLE KY 40065 $391,444.87
600121185 FUNSTEN,JAMES 1733 RUSSELL RIDGE DR HIAWASSEE GA 30546 $259,640.97
600121187 TUCK,WILLIAM 2334 SE 14TH ST OCALA FL 34470 $256,445.38
600121190 MCELROY,ROBERT 5 LANMAN RD NICEVILLE FL 32578 $347,020.13
600121192 LOPEZ,ORLANDO 6800 SW 122 AVENUE MIAMI FL 33183 $265,289.69
600121194 MOORE,JAY 3371 OAK GROVE RD LOGANVILLE GA 30052 $275,589.06
600121196 CHAVARA,JOSEPH 1611 SUMMERLAND AVE WINTER PARK FL 32789 $273,972.51
600121197 RUSSELL,KENNETH 2508 WIND CLIFF DR EADS TN 38028 $261,577.67
600121201 DONARS,RENE 4302 BETHEL CREEK DR VERO BEACH FL 32963 $339,747.67
600121205 KOSTICK,MILTON 6 BENTWOOD RD PALM BEACH GARD FL 33418 $255,577.14
600121206 HANLEY,RAYMOND 59 1 2 S ROSCO BLVD PONTA VEDRA BCH FL 32082 $305,284.38
600121210 JOSLIN,JEFFREY 4396 CLUB DRIVE ATLANTA GA 30319 $448,832.99
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121182 OLIVER,HAROLD 8.000 .250 7.750 .0400 7.710 11/01/2027
600121183 LEONARD,MALCOLM 8.000 .250 7.750 .0400 7.710 11/01/2027
600121184 DALLENBACH,MARY 7.750 .250 7.500 .0400 7.460 11/01/2027
600121185 FUNSTEN,JAMES 7.875 .250 7.625 .0400 7.585 11/01/2027
600121187 TUCK,WILLIAM 7.875 .250 7.625 .0400 7.585 11/01/2027
600121190 MCELROY,ROBERT 7.875 .250 7.625 .0400 7.585 11/01/2027
600121192 LOPEZ,ORLANDO 8.625 .250 8.375 .0400 8.335 07/01/2027
600121194 MOORE,JAY 7.500 .250 7.250 .0400 7.210 11/01/2027
600121196 CHAVARA,JOSEPH 7.250 .250 7.000 .0400 6.960 11/01/2017
600121197 RUSSELL,KENNETH 7.750 .250 7.500 .0400 7.460 11/01/2017
600121201 DONARS,RENE 7.500 .250 7.250 .0400 7.210 12/01/2027
600121205 KOSTICK,MILTON 7.375 .250 7.125 .0400 7.085 11/01/2027
600121206 HANLEY,RAYMOND 7.750 .250 7.500 .0400 7.460 12/01/2027
600121210 JOSLIN,JEFFREY 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>
600121182 OLIVER,HAROLD 1511188101 $1,834.41 01/01/1998 360
600121183 LEONARD,MALCOLM 1511190169 $2,751.62 01/01/1998 360
600121184 DALLENBACH,MARY 1511190566 $2,808.34 01/01/1998 360
600121185 FUNSTEN,JAMES 1511191285 $1,885.18 01/01/1998 360
600121187 TUCK,WILLIAM 1511193531 $1,861.98 01/01/1998 360
600121190 MCELROY,ROBERT 1511196143 $2,519.62 01/01/1998 360
600121192 LOPEZ,ORLANDO 1511196201 $2,070.87 01/01/1998 360
600121194 MOORE,JAY 1511196835 $1,929.83 01/01/1998 360
600121196 CHAVARA,JOSEPH 1511197452 $2,173.53 01/01/1998 240
600121197 RUSSELL,KENNETH 1511197543 $2,154.99 01/01/1998 240
600121201 DONARS,RENE 1511200080 $2,377.33 01/01/1998 360
600121205 KOSTICK,MILTON 1511206484 $1,768.13 01/01/1998 360
600121206 HANLEY,RAYMOND 1511206972 $2,188.64 01/01/1998 360
600121210 JOSLIN,JEFFREY 1512174033 $3,223.86 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121182 OLIVER,HAROLD $475,000.00 N
600121183 LEONARD,MALCOLM $559,500.00 N
600121184 DALLENBACH,MARY $490,000.00 N
600121185 FUNSTEN,JAMES $325,000.00 N
600121187 TUCK,WILLIAM $321,000.00 N
600121190 MCELROY,ROBERT $555,000.00 N
600121192 LOPEZ,ORLANDO $355,000.00 N
600121194 MOORE,JAY $345,000.00 N
600121196 CHAVARA,JOSEPH $405,000.00 N
600121197 RUSSELL,KENNETH $360,000.00 N
600121201 DONARS,RENE $550,000.00 N
600121205 KOSTICK,MILTON $320,000.00 N
600121206 HANLEY,RAYMOND $490,000.00 N
600121210 JOSLIN,JEFFREY $650,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 80
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121214 BAXTER,RONALD 12291 DELBERT RD PARKER CO 80134 $299,771.72
600121219 DEMPSEY,TIMOTHY 320 CANYON OAKS DR ARGYLE TX 76226 $249,255.31
600121225 SHERWOOD,LEROY 6010 EAST CHOLLA ST SCOTTSDALE AZ 85254 $307,574.69
600121228 CLYNE,JOHN 2625 KOHLER DRIVE BOULDER CO 80303 $273,829.75
600121231 MARTENS,RYAN 900 69TH ST BOULDER CO 80303 $337,123.82
600121234 DYPWICK,KURT 236 SPRING DRIVE PINE CO 80470 $264,669.41
600121237 WINDHOLZ,JAMES 2314 MAPLETON AVENUE BOULDER CO 80304 $239,830.61
600121240 MALONE,CARL 5701 SW CHARLESTOWN S SEATTLE WA 98116 $399,447.63
600121242 ARCHIBALD,CRAIG 544 CIRCLE DR DENVER CO 80206 $284,564.95
600121245 LANG,RICHARD 1038 A EAGLE DRIVE EAGLE-VAIL CO 81620 $310,548.39
600121246 CECCARELLI,JEFFREY 4405 MOUNTAINGATE DR RENO NV 89501 $356,294.72
600121248 JENSEN,JAY 3712 N 920 EAST PROVO UT 84604 $271,614.82
600121250 JONES,KIRSTEN 2598 E SHERWOOD DR SALT LAKE CITY UT 84108 $263,531.57
600121258 MACEACHERN,SCOTT 2919 NW SAVIER ST PORTLAND OR 97210 $308,440.06
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121214 BAXTER,RONALD 7.375 .250 7.125 .0400 7.085 12/01/2027
600121219 DEMPSEY,TIMOTHY 7.875 .250 7.625 .0400 7.585 11/01/2027
600121225 SHERWOOD,LEROY 7.875 .250 7.625 .0400 7.585 11/01/2027
600121228 CLYNE,JOHN 7.875 .250 7.625 .0400 7.585 10/01/2027
600121231 MARTENS,RYAN 7.875 .250 7.625 .0400 7.585 11/01/2027
600121234 DYPWICK,KURT 8.375 .250 8.125 .0400 8.085 11/01/2027
600121237 WINDHOLZ,JAMES 7.750 .250 7.500 .0400 7.460 12/01/2027
600121240 MALONE,CARL 7.875 .250 7.625 .0400 7.585 11/01/2027
600121242 ARCHIBALD,CRAIG 7.375 .250 7.125 .0400 7.085 11/01/2027
600121245 LANG,RICHARD 7.625 .250 7.375 .0400 7.335 11/01/2027
600121246 CECCARELLI,JEFFREY 7.750 .250 7.500 .0400 7.460 11/01/2027
600121248 JENSEN,JAY 7.750 .250 7.500 .0400 7.460 11/01/2027
600121250 JONES,KIRSTEN 7.750 .250 7.500 .0400 7.460 11/01/2027
600121258 MACEACHERN,SCOTT 7.500 .250 7.250 .0400 7.210 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>
600121214 BAXTER,RONALD 1512180648 $2,072.03 01/01/1998 360
600121219 DEMPSEY,TIMOTHY 1512182177 $1,809.78 01/01/1998 360
600121225 SHERWOOD,LEROY 1512191145 $2,233.21 01/01/1998 360
600121228 CLYNE,JOHN 1513192019 $1,989.59 01/01/1998 360
600121231 MARTENS,RYAN 1513199890 $2,447.83 01/01/1998 360
600121234 DYPWICK,KURT 1513204741 $2,014.20 01/01/1998 360
600121237 WINDHOLZ,JAMES 1513205369 $1,719.39 01/01/1998 360
600121240 MALONE,CARL 1513205595 $2,900.28 01/01/1998 360
600121242 ARCHIBALD,CRAIG 1513206328 $1,968.42 01/01/1998 360
600121245 LANG,RICHARD 1513206678 $2,201.24 01/01/1998 360
600121246 CECCARELLI,JEFFREY 1513207604 $2,556.16 01/01/1998 360
600121248 JENSEN,JAY 1513209767 $1,948.64 01/01/1998 360
600121250 JONES,KIRSTEN 1513209949 $1,891.33 01/01/1998 360
600121258 MACEACHERN,SCOTT 1513214075 $2,159.88 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121214 BAXTER,RONALD $400,000.00 N
600121219 DEMPSEY,TIMOTHY $312,000.00 N
600121225 SHERWOOD,LEROY $385,000.00 N
600121228 CLYNE,JOHN $343,000.00 N
600121231 MARTENS,RYAN $422,000.00 N
600121234 DYPWICK,KURT $380,000.00 N
600121237 WINDHOLZ,JAMES $304,000.00 N
600121240 MALONE,CARL $525,000.00 N
600121242 ARCHIBALD,CRAIG $665,000.00 N
600121245 LANG,RICHARD $465,000.00 N
600121246 CECCARELLI,JEFFREY $446,000.00 N
600121248 JENSEN,JAY $350,000.00 N
600121250 JONES,KIRSTEN $330,000.00 N
600121258 MACEACHERN,SCOTT $386,200.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 81
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121259 CANNON,PETER 2823 MOORELANDS DRIVE GIG HARBOR WA 98335 $289,364.55
600121260 BRUNKER,MICHAEL 12406 180TH AVE NE REDMOND WA 98052 $239,660.13
600121263 GAGE,ROBERT 4188 SW BRITTANY DR GRESHAM OR 97080 $259,811.81
600121265 KINEMAN,JOHN 1101 BISON DR BOULDER CO 80302 $240,821.14
600121273 DAVIS,WHITNEY 1200 41ST STREET SACRAMENTO CA 95819 $287,286.64
600121275 MARTINI,ERNEST 1414 46TH STREET SACRAMENTO CA 95819 $403,721.97
600121278 GROSSFELD,SHELDON 3900 DUNSTER WAY SACRAMENTO CA 95864 $336,498.24
600121279 DONOVAN,GREGORY 856 OPHIR PEAK ROAD INCLINE VILLAGE NV 89450 $319,462.51
600121284 BOSCHWITZ,KENNETH 231 CANYON DRIVE PORTOLA VALLEY CA 94028 $571,542.58
600121289 SNOOK,REED 1050 IRWIN COURT CONCORD CA 94518 $339,766.01
600121292 MERESMAN,JOSEPH 2736 PRINCE STREET BERKELEY CA 94705 $349,759.13
600121294 BUTLER,ALLAN 13 MARIPOSA AVENUE LOS GATOS CA 95030 $299,777.35
600121296 PROFACA,ROBERT 919 MARLIN AVENUE FOSTER CITY CA 94404 $347,735.20
600121300 BIANCHI,STEPHEN 1129 MCINTOSH CREEK D SAN JOSE CA 95120 $379,724.96
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121259 CANNON,PETER 8.000 .250 7.750 .0400 7.710 11/01/2027
600121260 BRUNKER,MICHAEL 7.750 .250 7.500 .0400 7.460 11/01/2027
600121263 GAGE,ROBERT 7.625 .250 7.375 .0400 7.335 12/01/2027
600121265 KINEMAN,JOHN 7.500 .250 7.250 .0400 7.210 12/01/2027
600121273 DAVIS,WHITNEY 7.500 .250 7.250 .0400 7.210 12/01/2027
600121275 MARTINI,ERNEST 7.875 .250 7.625 .0400 7.585 12/01/2027
600121278 GROSSFELD,SHELDON 7.500 .250 7.250 .0400 7.210 11/01/2027
600121279 DONOVAN,GREGORY 7.500 .250 7.250 .0400 7.210 12/01/2027
600121284 BOSCHWITZ,KENNETH 7.125 .250 6.875 .0400 6.835 12/01/2027
600121289 SNOOK,REED 7.875 .250 7.625 .0400 7.585 12/01/2027
600121292 MERESMAN,JOSEPH 7.875 .250 7.625 .0400 7.585 12/01/2027
600121294 BUTLER,ALLAN 7.500 .250 7.250 .0400 7.210 12/01/2027
600121296 PROFACA,ROBERT 7.375 .250 7.125 .0400 7.085 12/01/2027
600121300 BIANCHI,STEPHEN 7.625 .250 7.375 .0400 7.335 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>
600121259 CANNON,PETER 1513214585 $2,127.92 01/01/1998 360
600121260 BRUNKER,MICHAEL 1513214701 $1,719.39 01/01/1998 360
600121263 GAGE,ROBERT 1513217335 $1,840.27 01/01/1998 360
600121265 KINEMAN,JOHN 1513217970 $1,685.11 01/01/1998 360
600121273 DAVIS,WHITNEY 1550009020 $2,010.24 01/01/1998 360
600121275 MARTINI,ERNEST 1550010303 $2,929.28 01/01/1998 360
600121278 GROSSFELD,SHELDON 1550017357 $2,356.35 01/01/1998 360
600121279 DONOVAN,GREGORY 1550020420 $2,237.49 01/01/1998 360
600121284 BOSCHWITZ,KENNETH 1553009617 $3,853.67 01/01/1998 360
600121289 SNOOK,REED 1561374458 $2,465.24 01/01/1998 360
600121292 MERESMAN,JOSEPH 1561375213 $2,537.75 01/01/1998 360
600121294 BUTLER,ALLAN 1561375337 $2,097.65 01/01/1998 360
600121296 PROFACA,ROBERT 1561375585 $2,403.55 01/01/1998 360
600121300 BIANCHI,STEPHEN 1561375870 $2,689.62 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121259 CANNON,PETER $505,000.00 N
600121260 BRUNKER,MICHAEL $300,000.00 N
600121263 GAGE,ROBERT $325,000.00 N
600121265 KINEMAN,JOHN $510,000.00 N
600121273 DAVIS,WHITNEY $477,500.00 N
600121275 MARTINI,ERNEST $505,000.00 N
600121278 GROSSFELD,SHELDON $485,000.00 N
600121279 DONOVAN,GREGORY $400,000.00 N
600121284 BOSCHWITZ,KENNETH $715,000.00 N
600121289 SNOOK,REED $425,000.00 N
600121292 MERESMAN,JOSEPH $451,000.00 N
600121294 BUTLER,ALLAN $400,000.00 N
600121296 PROFACA,ROBERT $435,000.00 N
600121300 BIANCHI,STEPHEN $525,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 82
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121303 SULLIVAN,MARYANNE 313 DELMAR WAY SAN MATEO CA 94403 $303,385.72
600121304 CRUZ,CHRISTOPHER 706 WESSEX PLACE MILPITAS CA 95035 $407,712.03
600121306 RILEY,JAMES 138 CALVERT COURT OAKLAND CA 94611 $415,683.46
600121307 WATSON,TODD 654 CENTER STREET WALNUT CREEK CA 94595 $419,680.41
600121309 INN,ERNEST 813 PIPER AVENUE SUNNYVALE CA 94087 $399,731.61
600121310 RAPH,KEVIN 311 MELROSE AVENUE PACIFIC GROVE CA 93950 $244,318.54
600121312 GLASS,REX 3772 OLD OX ROAD SHINGLE SPRINGS CA 95682 $243,836.28
600121314 MCCALLUM,MICHAEL 1275 POLLARD ROAD CAMPBELL CA 95008 $254,220.44
600121316 STADLER,MICHAEL 270 WEST 40TH AVENUE SAN MATEO CA 94403 $359,732.82
600121317 LEE,CHERYL 4700 GERANIUM PLACE OAKLAND CA 94619 $235,820.42
600121318 PAULSEN,BARBARA 2900 FOREST AVENUE BERKELEY CA 94705 $399,695.62
600121319 CORPUZ,ARMANDO 6406 ASPENWOOD WAY LIVERMORE CA 94550 $235,733.50
600121322 OTT,JEFFERY 3106 PEPITA COURT SAN JOSE CA 95132 $261,405.85
600121324 GOLDEN,MATTHEW 8276 ST HELENA HIGHWA NAPA CA 94558 $391,716.27
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121303 SULLIVAN,MARYANNE 7.750 .250 7.500 .0400 7.460 12/01/2027
600121304 CRUZ,CHRISTOPHER 7.750 .250 7.500 .0400 7.460 12/01/2027
600121306 RILEY,JAMES 7.375 .250 7.125 .0400 7.085 12/01/2027
600121307 WATSON,TODD 7.375 .250 7.125 .0400 7.085 12/01/2027
600121309 INN,ERNEST 8.000 .250 7.750 .0400 7.710 12/01/2027
600121310 RAPH,KEVIN 7.500 .250 7.250 .0400 7.210 12/01/2027
600121312 GLASS,REX 8.000 .250 7.750 .0400 7.710 12/01/2027
600121314 MCCALLUM,MICHAEL 7.750 .250 7.500 .0400 7.460 12/01/2027
600121316 STADLER,MICHAEL 7.500 .250 7.250 .0400 7.210 12/01/2027
600121317 LEE,CHERYL 7.375 .250 7.125 .0400 7.085 12/01/2027
600121318 PAULSEN,BARBARA 7.375 .250 7.125 .0400 7.085 12/01/2027
600121319 CORPUZ,ARMANDO 7.750 .250 7.500 .0400 7.460 12/01/2027
600121322 OTT,JEFFERY 7.500 .250 7.250 .0400 7.210 12/01/2027
600121324 GOLDEN,MATTHEW 7.625 .250 7.375 .0400 7.335 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>
600121303 SULLIVAN,MARYANNE 1561376158 $2,175.03 01/01/1998 360
600121304 CRUZ,CHRISTOPHER 1561376431 $2,922.97 01/01/1998 360
600121306 RILEY,JAMES 1561377285 $2,873.21 01/01/1998 360
600121307 WATSON,TODD 1561377638 $2,900.84 01/01/1998 360
600121309 INN,ERNEST 1561377988 $2,935.06 01/01/1998 360
600121310 RAPH,KEVIN 1561378018 $1,709.58 01/01/1998 360
600121312 GLASS,REX 1561378379 $1,790.39 01/01/1998 360
600121314 MCCALLUM,MICHAEL 1561378572 $1,822.56 01/01/1998 360
600121316 STADLER,MICHAEL 1561378674 $2,517.18 01/01/1998 360
600121317 LEE,CHERYL 1561378700 $1,630.00 01/01/1998 360
600121318 PAULSEN,BARBARA 1561378970 $2,762.71 01/01/1998 360
600121319 CORPUZ,ARMANDO 1561379098 $1,690.02 01/01/1998 360
600121322 OTT,JEFFERY 1561379371 $1,829.15 01/01/1998 360
600121324 GOLDEN,MATTHEW 1561380064 $2,774.56 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121303 SULLIVAN,MARYANNE $480,000.00 N
600121304 CRUZ,CHRISTOPHER $525,000.00 N
600121306 RILEY,JAMES $520,000.00 N
600121307 WATSON,TODD $525,000.00 N
600121309 INN,ERNEST $500,000.00 N
600121310 RAPH,KEVIN $340,000.00 N
600121312 GLASS,REX $305,000.00 N
600121314 MCCALLUM,MICHAEL $318,000.00 N
600121316 STADLER,MICHAEL $450,000.00 N
600121317 LEE,CHERYL $295,000.00 N
600121318 PAULSEN,BARBARA $500,000.00 N
600121319 CORPUZ,ARMANDO $294,927.00 N
600121322 OTT,JEFFERY $327,000.00 N
600121324 GOLDEN,MATTHEW $490,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 83
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121330 MCCLINTIC,VICTOR 14330 SOUTH 52ND EAST BIXBY OK 74008 $249,636.91
600121340 GOECKE,RANDALL 19701 NE 35TH CT RIDGEFIELD WA 98642 $279,807.30
600121342 LEWANDOWSKI,GORDON 2508 191ST CT SE ISSAQUAH WA 98029 $339,766.01
600121343 YOUNG,CAREY 5727 S HAWTHORN RD SEATTLE WA 98118 $314,178.09
600121345 SEDUN,PETER 17462 BLUE HERON RD LAKE OSWEGO OR 97034 $339,506.27
600121352 CAMPANILE,THOMAS 3634 72ND PL SE MERCER ISLAND WA 98040 $339,760.02
600121353 OLSEN,JAMES 3372 CONCOMLY DR S SALEM OR 97306 $292,771.43
600121354 CAMPBELL,ROBERT 17410 MARINE DR STANWOOD WA 98292 $283,885.70
600121358 GAY,TIMOTHY 8440 NE 170TH ST BOTHELL WA 98011 $351,501.50
600121361 BAILEY,ESTER 4335 91ST AVE SE MERCER ISLAND WA 98040 $247,833.59
600121369 LEWIS,KENNETH 4624 SUNNYSIDE AVE N SEATTLE WA 98103 $276,604.64
600121370 RUTTER,JOHN 15728 NE 193RD STREET WOODINVILLE WA 98072 $415,706.39
600121372 ZANETTI,SHARI 2557 11TH AVE W SEATTLE WA 98119 $407,719.21
600121373 HARVEY,JAMES 3441 W BLAINE ST SEATTLE WA 98199 $444,685.92
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121330 MCCLINTIC,VICTOR 7.625 .250 7.375 .0400 7.335 11/01/2027
600121340 GOECKE,RANDALL 7.875 .250 7.625 .0400 7.585 12/01/2027
600121342 LEWANDOWSKI,GORDON 7.875 .250 7.625 .0400 7.585 12/01/2027
600121343 YOUNG,CAREY 7.750 .250 7.500 .0400 7.460 12/01/2027
600121345 SEDUN,PETER 7.625 .250 7.375 .0400 7.335 11/01/2027
600121352 CAMPANILE,THOMAS 7.750 .250 7.500 .0400 7.460 12/01/2027
600121353 OLSEN,JAMES 7.250 .250 7.000 .0400 6.960 12/01/2027
600121354 CAMPBELL,ROBERT 7.750 .250 7.500 .0400 7.460 11/01/2027
600121358 GAY,TIMOTHY 7.750 .250 7.500 .0400 7.460 11/01/2027
600121361 BAILEY,ESTER 8.000 .250 7.750 .0400 7.710 12/01/2027
600121369 LEWIS,KENNETH 7.750 .250 7.500 .0400 7.460 12/01/2027
600121370 RUTTER,JOHN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121372 ZANETTI,SHARI 7.875 .250 7.625 .0400 7.585 12/01/2027
600121373 HARVEY,JAMES 7.750 .250 7.500 .0400 7.460 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>
600121330 MCCLINTIC,VICTOR 1563174493 $1,769.51 01/01/1998 360
600121340 GOECKE,RANDALL 1565168265 $2,030.20 01/01/1998 360
600121342 LEWANDOWSKI,GORDON 1565173979 $2,465.24 01/01/1998 360
600121343 YOUNG,CAREY 1565174519 $2,252.41 01/01/1998 360
600121345 SEDUN,PETER 1565174541 $2,406.50 01/01/1998 360
600121352 CAMPANILE,THOMAS 1565175318 $2,435.81 01/01/1998 360
600121353 OLSEN,JAMES 1565175431 $1,998.78 01/01/1998 360
600121354 CAMPBELL,ROBERT 1565175646 $2,041.78 01/01/1998 360
600121358 GAY,TIMOTHY 1565176274 $2,521.78 01/01/1998 360
600121361 BAILEY,ESTER 1565176387 $1,819.74 01/01/1998 360
600121369 LEWIS,KENNETH 1565176977 $1,983.03 01/01/1998 360
600121370 RUTTER,JOHN 1565177186 $2,980.28 01/01/1998 360
600121372 ZANETTI,SHARI 1565177710 $2,958.29 01/01/1998 360
600121373 HARVEY,JAMES 1565177798 $3,188.04 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121330 MCCLINTIC,VICTOR $380,000.00 N
600121340 GOECKE,RANDALL $350,000.00 N
600121342 LEWANDOWSKI,GORDON $425,000.00 N
600121343 YOUNG,CAREY $393,000.00 N
600121345 SEDUN,PETER $425,000.00 N
600121352 CAMPANILE,THOMAS $470,000.00 N
600121353 OLSEN,JAMES $440,000.00 N
600121354 CAMPBELL,ROBERT $475,000.00 N
600121358 GAY,TIMOTHY $440,000.00 N
600121361 BAILEY,ESTER $310,000.00 N
600121369 LEWIS,KENNETH $369,100.00 N
600121370 RUTTER,JOHN $520,000.00 N
600121372 ZANETTI,SHARI $550,000.00 N
600121373 HARVEY,JAMES $750,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 84
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121393 GAINES,JEFFREY 4835 RANCHO VIEJO DRI DEL MAR CA 92014 $573,584.55
600121394 DELINE,MATTHEW 1426 ARBOR COURT ENCINITAS CA 92024 $331,753.60
600121395 FOX,WARREN 525 NORTH RIOS AVENU SOLANA BEACH CA 92075 $243,736.34
600121399 MANUEL,LARRY 4934 VIA CINTA SAN DIEGO CA 92122 $265,402.88
600121401 GRIMMOND,T 37526 ROAD 274 BASS LAKE CA 93604 $269,814.18
600121402 WARREN,MARK 1737 HYGEIA AVENUE ENCINITAS CA 92024 $375,741.23
600121406 HUGG,RUSS 10300 ELENA DRIVE NE ALBUQUERQUE NM 87122 $290,789.38
600121413 FITZPATRICK,THOMAS 1132 EAST THOMAS ROAD PHOENIX AZ 85014 $247,845.85
600121423 TIMMS,ANTHONY 219 RIDGE ROAD MONROE NC 28110 $379,710.85
600121431 ROBISON,STEPHEN 2635 INVERNESS ROAD CHARLOTTE NC 28209 $270,204.29
600121437 BERNHARDT,DALE 5595 HWY 348 OLATHE CO 81425 $249,836.46
600121442 HERR,RAYMOND 505 WILDERNESS RD BRECKENRIDGE CO 80424 $247,770.85
600121446 HANSEN,THEODORE 4352 N IMPERIAL WY PROVO UT 84604 $419,696.01
600121459 WHITE,JOSEPH 22 CRAFTS FIELD WAY EDGARTOWN MA 02539 $239,633.62
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121393 GAINES,JEFFREY 7.625 .250 7.375 .0400 7.335 12/01/2027
600121394 DELINE,MATTHEW 7.500 .250 7.250 .0400 7.210 12/01/2027
600121395 FOX,WARREN 8.000 .250 7.750 .0400 7.710 12/01/2027
600121399 MANUEL,LARRY 7.500 .250 7.250 .0400 7.210 12/01/2027
600121401 GRIMMOND,T 7.875 .250 7.625 .0400 7.585 12/01/2027
600121402 WARREN,MARK 7.875 .250 7.625 .0400 7.585 12/01/2027
600121406 HUGG,RUSS 7.625 .250 7.375 .0400 7.335 12/01/2027
600121413 FITZPATRICK,THOMAS 8.375 .250 8.125 .0400 8.085 12/01/2027
600121423 TIMMS,ANTHONY 7.375 .250 7.125 .0400 7.085 12/01/2027
600121431 ROBISON,STEPHEN 7.625 .250 7.375 .0400 7.335 12/01/2027
600121437 BERNHARDT,DALE 8.125 .250 7.875 .0400 7.835 12/01/2027
600121442 HERR,RAYMOND 7.250 .250 7.000 .0400 6.960 12/01/2027
600121446 HANSEN,THEODORE 7.625 .250 7.375 .0400 7.335 12/01/2027
600121459 WHITE,JOSEPH 7.375 .250 7.125 .0400 7.085 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>
600121393 GAINES,JEFFREY 1567207696 $4,062.74 01/01/1998 360
600121394 DELINE,MATTHEW 1567207823 $2,321.40 01/01/1998 360
600121395 FOX,WARREN 1567208280 $1,789.66 01/01/1998 360
600121399 MANUEL,LARRY 1567209975 $1,857.12 01/01/1998 360
600121401 GRIMMOND,T 1567210511 $1,957.69 01/01/1998 360
600121402 WARREN,MARK 1567210566 $2,726.27 01/01/1998 360
600121406 HUGG,RUSS 1569183850 $2,059.68 01/01/1998 360
600121413 FITZPATRICK,THOMAS 1569186076 $1,884.98 01/01/1998 360
600121423 TIMMS,ANTHONY 1577103653 $2,624.57 01/01/1998 360
600121431 ROBISON,STEPHEN 1577105502 $1,913.88 01/01/1998 360
600121437 BERNHARDT,DALE 1579060868 $1,856.25 01/01/1998 360
600121442 HERR,RAYMOND 1579065001 $1,691.80 01/01/1998 360
600121446 HANSEN,THEODORE 1579065409 $2,972.74 01/01/1998 360
600121459 WHITE,JOSEPH 1580064710 $1,657.63 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121393 GAINES,JEFFREY $890,000.00 N
600121394 DELINE,MATTHEW $415,000.00 N
600121395 FOX,WARREN $310,000.00 N
600121399 MANUEL,LARRY $332,000.00 N
600121401 GRIMMOND,T $350,000.00 N
600121402 WARREN,MARK $470,000.00 N
600121406 HUGG,RUSS $455,000.00 N
600121413 FITZPATRICK,THOMAS $310,000.00 N
600121423 TIMMS,ANTHONY $475,000.00 N
600121431 ROBISON,STEPHEN $339,000.00 N
600121437 BERNHARDT,DALE $448,300.00 N
600121442 HERR,RAYMOND $310,000.00 N
600121446 HANSEN,THEODORE $525,000.00 N
600121459 WHITE,JOSEPH $300,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 85
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121462 BRIND,CHARLES 458 DOVER ROAD WESTWOOD MA 02090 $274,785.47
600121465 KING,JAMES 14 THACKERAY ROAD WELLESLEY MA 02181 $344,762.57
600121468 CHECKOWAY,ERIC 215 OLD CART WAY NORTH ANDOVER MA 01845 $311,874.11
600121469 CALIANOS,ANDREAS 59 HENSHAW AVENUE NORTHAMPTON MA 01060 $243,809.65
600121470 POLLARD,CHARLES 25 CRAFTSLAND ROAD BROOKLINE MA 02167 $296,568.47
600121474 CHERRY,JAMES 58 OAK CLIFF ROAD NEWTON MA 02160 $255,828.23
600121476 HARRIS,PAUL 44 SOUTHVIEW DRIVE RICHMOND VT 05477 $271,785.00
600121482 LEDERBERG,TOBIAS 92 LAUREL AVENUE PROVIDENCE RI 02906 $259,807.04
600121483 WATERMAN,DANA 20 CANTERBURY LANE EAST GREENWICH RI 02818 $319,662.58
600121485 DUTTON,MICHAEL 6 CHESTER DRIVE WEARE NH 03281 $253,132.43
600121486 BOYNTON,EDWARD 88 RANDI DRIVE MADISON CT 06443 $300,758.09
600121487 MAZZOLA,PHILIP 17 WINGAERSHEEK ROA GLOUCESTER MA 01930 $256,827.55
600121490 BROWN,DOUGLAS 45 TIPPING ROCK ROA EAST GREENWICH RI 02818 $304,779.24
600121491 PALUMBO,KENNETH 133 HARTSHORN ROAD PROVIDENCE RI 02900 $324,770.62
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121462 BRIND,CHARLES 7.250 .250 7.000 .0400 6.960 12/01/2027
600121465 KING,JAMES 7.875 .250 7.625 .0400 7.585 12/01/2027
600121468 CHECKOWAY,ERIC 7.625 .250 7.375 .0400 7.335 12/01/2027
600121469 CALIANOS,ANDREAS 7.250 .250 7.000 .0400 6.960 12/01/2027
600121470 POLLARD,CHARLES 7.250 .250 7.000 .0400 6.960 12/01/2027
600121474 CHERRY,JAMES 8.000 .250 7.750 .0400 7.710 12/01/2027
600121476 HARRIS,PAUL 7.875 .250 7.625 .0400 7.585 12/01/2027
600121482 LEDERBERG,TOBIAS 7.500 .250 7.250 .0400 7.210 12/01/2027
600121483 WATERMAN,DANA 7.500 .250 7.250 .0400 7.210 12/01/2027
600121485 DUTTON,MICHAEL 7.250 .250 7.000 .0400 6.960 12/01/2027
600121486 BOYNTON,EDWARD 8.250 .250 8.000 .0400 7.960 12/01/2027
600121487 MAZZOLA,PHILIP 8.000 .250 7.750 .0400 7.710 12/01/2027
600121490 BROWN,DOUGLAS 7.625 .250 7.375 .0400 7.335 12/01/2027
600121491 PALUMBO,KENNETH 7.750 .250 7.500 .0400 7.460 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>
600121462 BRIND,CHARLES 1580064924 $1,875.99 01/01/1998 360
600121465 KING,JAMES 1580065520 $2,501.49 01/01/1998 360
600121468 CHECKOWAY,ERIC 1580065825 $2,209.03 01/01/1998 360
600121469 CALIANOS,ANDREAS 1580065927 $1,664.52 01/01/1998 360
600121470 POLLARD,CHARLES 1580066034 $2,024.70 01/01/1998 360
600121474 CHERRY,JAMES 1580066646 $1,878.44 01/01/1998 360
600121476 HARRIS,PAUL 1580066781 $1,972.19 01/01/1998 360
600121482 LEDERBERG,TOBIAS 1580067412 $1,817.96 01/01/1998 360
600121483 WATERMAN,DANA 1580067434 $2,236.79 01/01/1998 360
600121485 DUTTON,MICHAEL 1580067490 $1,732.73 01/01/1998 360
600121486 BOYNTON,EDWARD 1580067570 $2,260.94 01/01/1998 360
600121487 MAZZOLA,PHILIP 1580067784 $1,885.78 01/01/1998 360
600121490 BROWN,DOUGLAS 1580067966 $2,158.78 01/01/1998 360
600121491 PALUMBO,KENNETH 1580067977 $2,328.34 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121462 BRIND,CHARLES $465,000.00 N
600121465 KING,JAMES $708,000.00 N
600121468 CHECKOWAY,ERIC $441,000.00 N
600121469 CALIANOS,ANDREAS $305,000.00 N
600121470 POLLARD,CHARLES $371,000.00 N
600121474 CHERRY,JAMES $342,000.00 N
600121476 HARRIS,PAUL $365,000.00 N
600121482 LEDERBERG,TOBIAS $335,100.00 N
600121483 WATERMAN,DANA $399,900.00 N
600121485 DUTTON,MICHAEL $325,000.00 N
600121486 BOYNTON,EDWARD $463,000.00 N
600121487 MAZZOLA,PHILIP $490,000.00 N
600121490 BROWN,DOUGLAS $402,373.00 N
600121491 PALUMBO,KENNETH $550,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 86
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121492 JAGODZINSKI,STEVEN 72 ROLLING RIDGE RO STAMFORD CT 06903 $252,303.02
600121498 HAMILTON,STEVEN 22 MOHAWK DRIVE NORTH ATTLEBORO MA 02760 $267,796.07
600121499 DILL,DANIEL 135 BASS POINT ROAD NAHANT MA 01908 $268,628.76
600121506 HARMON,CHARLES 7833 COUNTRYBROOK DRI REYNOLDSBURG OH 43068 $275,618.85
600121508 BUNTING,GEOFFREY 100 SHIRLEY DRIVE BIRMINGHAM MI 48009 $339,771.87
600121512 GILBERT,LARRY 7259 ST IVES PLACE WEST CHESTER OH 45069 $418,934.12
600121526 CAPALDI,MARK 711 WESTVIEW BLOOMFIELD HILL MI 48304 $260,819.76
600121536 BACKUS,GREGORY 4115 FRANKLIN BLOOMFIELD TOWN MI 48302 $240,334.48
600121542 BRODAR,THOMAS 185 N 800 WEST DELPHI IN 46923 $266,816.25
600121548 KLEIN,BRUCE 3442 BUCKINGHAM TRAIL WEST BLOOMFIELD MI 48323 $241,833.46
600121550 NEWMAN,T 1756 BAYBROOK LOT 401 NAPERVILLE IL 60564 $299,782.86
600121551 WANSING,ALLAN 09 WINDCASTLE PLACE SAINT CHARLES MO 63304 $391,734.93
600121553 CLARK,TIMOTHY 17408 NORTHERN LIGHTS EDEN PRAIRIE MN 55347 $449,682.39
600121554 LARSON,RICHARD 8373 SENECA POINTE EDEN PRAIRIE MN 55347 $279,792.20
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121492 JAGODZINSKI,STEVEN 7.250 .250 7.000 .0400 6.960 12/01/2027
600121498 HAMILTON,STEVEN 7.375 .250 7.125 .0400 7.085 12/01/2027
600121499 DILL,DANIEL 7.750 .250 7.500 .0400 7.460 12/01/2017
600121506 HARMON,CHARLES 7.875 .250 7.625 .0400 7.585 11/01/2027
600121508 BUNTING,GEOFFREY 8.000 .250 7.750 .0400 7.710 12/01/2027
600121512 GILBERT,LARRY 7.625 .250 7.375 .0400 7.335 11/01/2027
600121526 CAPALDI,MARK 7.875 .250 7.625 .0400 7.585 12/01/2027
600121536 BACKUS,GREGORY 7.875 .250 7.625 .0400 7.585 12/01/2027
600121542 BRODAR,THOMAS 7.875 .250 7.625 .0400 7.585 12/01/2027
600121548 KLEIN,BRUCE 7.875 .250 7.625 .0400 7.585 12/01/2027
600121550 NEWMAN,T 7.625 .250 7.375 .0400 7.335 12/01/2027
600121551 WANSING,ALLAN 8.000 .250 7.750 .0400 7.710 12/01/2027
600121553 CLARK,TIMOTHY 7.750 .250 7.500 .0400 7.460 12/01/2027
600121554 LARSON,RICHARD 7.500 .250 7.250 .0400 7.210 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>
600121492 JAGODZINSKI,STEVEN 1580067988 $1,722.50 01/01/1998 360
600121498 HAMILTON,STEVEN 1580068528 $1,851.01 01/01/1998 360
600121499 DILL,DANIEL 1580068641 $2,209.18 01/01/1998 240
600121506 HARMON,CHARLES 1581130900 $2,001.20 01/01/1998 360
600121508 BUNTING,GEOFFREY 1581132065 $2,494.80 01/01/1998 360
600121512 GILBERT,LARRY 1581135370 $2,972.74 01/01/1998 360
600121526 CAPALDI,MARK 1581139698 $1,902.59 01/01/1998 360
600121536 BACKUS,GREGORY 1581142047 $1,743.80 01/01/1998 360
600121542 BRODAR,THOMAS 1581143516 $1,935.94 01/01/1998 360
600121548 KLEIN,BRUCE 1581145464 $1,754.67 01/01/1998 360
600121550 NEWMAN,T 1583064975 $2,123.39 01/01/1998 360
600121551 WANSING,ALLAN 1583066937 $2,876.36 01/01/1998 360
600121553 CLARK,TIMOTHY 1583069582 $3,223.86 01/01/1998 360
600121554 LARSON,RICHARD 1583069957 $1,957.80 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121492 JAGODZINSKI,STEVEN $315,625.00 N
600121498 HAMILTON,STEVEN $335,000.00 N
600121499 DILL,DANIEL $414,000.00 N
600121506 HARMON,CHARLES $345,000.00 N
600121508 BUNTING,GEOFFREY $600,000.00 N
600121512 GILBERT,LARRY $660,000.00 N
600121526 CAPALDI,MARK $349,900.00 N
600121536 BACKUS,GREGORY $370,000.00 N
600121542 BRODAR,THOMAS $335,000.00 N
600121548 KLEIN,BRUCE $310,000.00 N
600121550 NEWMAN,T $425,000.00 N
600121551 WANSING,ALLAN $490,000.00 N
600121553 CLARK,TIMOTHY $645,000.00 N
600121554 LARSON,RICHARD $480,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 87
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121557 FELDMAN,LAWRENCE 121 HILL ROAD WILLOWBROOK IL 60521 $279,793.70
600121559 FARMER,DAVIS 10214 DELMAN OVERLAND PARK KS 66207 $307,563.83
600121565 TIERNEY,JOSEPH 9568 57TH STREET NORT LAKE ELMO MN 55042 $248,615.35
600121568 GASKILL,ROBERT 4624 ARDEN AVENUE EDINA MN 55424 $238,822.62
600121570 LILJA,DEAN OTTERTAIL LAKE OTTERTAIL MN 56571 $339,771.87
600121572 GLYNN,PAUL 1217 HICKORY CIRCLE WACONIA MN 55387 $284,439.55
600121574 GADZIA,CHRISTOPHER 12013 SOUTH BEAR HILL DRAPER UT 84020 $337,267.73
600121580 VACCARELLA,STEVEN 351 HILRAY AVENUE WYCKOFF NJ 07481 $332,770.82
600121581 STIO,JAMES 30 FRANKLIN ST MAHWAH NJ 07430 $249,328.29
600121588 WARD,GREGG 12 PARK AVENUE REHOBOTH BEACH DE 19971 $359,726.06
600121589 SARISKY,TERESA 21 BELLINGHAM SHIRE NEW HOPE PA 18938 $492,241.86
600121597 MARCH,JEFFERY 109 PEREGRINE LANE UPPER UWCHLAN T PA 19335 $256,614.13
600121599 HOLMES,BRADLEY 1813 PARKSIDE DRIVE N WASHINGTON DC 20012 $431,695.09
600121604 YEADON,LORIA 43 HIGHWOOD AVENUE WEST ORANGE NJ 07052 $419,718.18
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121557 FELDMAN,LAWRENCE 7.625 .250 7.375 .0400 7.335 12/01/2027
600121559 FARMER,DAVIS 7.750 .250 7.500 .0400 7.460 11/01/2027
600121565 TIERNEY,JOSEPH 7.500 .250 7.250 .0400 7.210 12/01/2027
600121568 GASKILL,ROBERT 7.500 .250 7.250 .0400 7.210 12/01/2027
600121570 LILJA,DEAN 8.000 .250 7.750 .0400 7.710 12/01/2027
600121572 GLYNN,PAUL 7.375 .250 7.125 .0400 7.085 12/01/2027
600121574 GADZIA,CHRISTOPHER 7.875 .250 7.625 .0400 7.585 12/01/2027
600121580 VACCARELLA,STEVEN 7.875 .250 7.625 .0400 7.585 12/01/2027
600121581 STIO,JAMES 7.875 .250 7.625 .0400 7.585 12/01/2027
600121588 WARD,GREGG 7.375 .250 7.125 .0400 7.085 12/01/2027
600121589 SARISKY,TERESA 7.125 .250 6.875 .0400 6.835 12/01/2027
600121597 MARCH,JEFFERY 7.625 .250 7.375 .0400 7.335 12/01/2027
600121599 HOLMES,BRADLEY 7.750 .250 7.500 .0400 7.460 12/01/2027
600121604 YEADON,LORIA 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>
600121557 FELDMAN,LAWRENCE 1583070865 $1,981.83 01/01/1998 360
600121559 FARMER,DAVIS 1583071110 $2,206.55 01/01/1998 360
600121565 TIERNEY,JOSEPH 1583073477 $1,739.65 01/01/1998 360
600121568 GASKILL,ROBERT 1583074458 $1,671.13 01/01/1998 360
600121570 LILJA,DEAN 1583075574 $2,494.80 01/01/1998 360
600121572 GLYNN,PAUL 1583075723 $1,968.43 01/01/1998 360
600121574 GADZIA,CHRISTOPHER 1583077230 $2,447.11 01/01/1998 360
600121580 VACCARELLA,STEVEN 1587086007 $2,414.49 01/01/1998 360
600121581 STIO,JAMES 1587086776 $1,809.05 01/01/1998 360
600121588 WARD,GREGG 1587088909 $2,486.44 01/01/1998 360
600121589 SARISKY,TERESA 1587089005 $3,341.65 01/01/1998 360
600121597 MARCH,JEFFERY 1587090886 $1,817.62 01/01/1998 360
600121599 HOLMES,BRADLEY 1587091095 $3,094.91 01/01/1998 360
600121604 YEADON,LORIA 1587091889 $3,081.82 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121557 FELDMAN,LAWRENCE $350,000.00 N
600121559 FARMER,DAVIS $385,000.00 N
600121565 TIERNEY,JOSEPH $340,000.00 N
600121568 GASKILL,ROBERT $300,000.00 N
600121570 LILJA,DEAN $458,000.00 N
600121572 GLYNN,PAUL $367,000.00 N
600121574 GADZIA,CHRISTOPHER $450,000.00 N
600121580 VACCARELLA,STEVEN $420,000.00 N
600121581 STIO,JAMES $313,000.00 N
600121588 WARD,GREGG $460,000.00 N
600121589 SARISKY,TERESA $620,000.00 N
600121597 MARCH,JEFFERY $321,100.00 N
600121599 HOLMES,BRADLEY $540,000.00 N
600121604 YEADON,LORIA $560,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 88
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121609 CARTER,RICHARD 3416 SHARON CHAPEL RO ALEXANDRIA VA 22310 $265,003.18
600121611 ZANGRILLI,TODD 97 POINT VIEW PARKW WAYNE NJ 07470 $279,797.34
600121614 BROOKS,STEPHEN 4011 NE 27 AVENUE LIGHTHOUSE POIN FL 33064 $247,815.94
600121617 DIAMOND,DAVID 6015 PINETREE DR MIAMI BEACH FL 33140 $449,674.30
600121624 COFFEY,KENDALL 1639 S BAYSHORE DR MIAMI FL 33133 $439,344.88
600121636 BUCHANAN,FRANK 8280 SE 61ST STREET MERCER ISLAND WA 98040 $324,758.80
600121646 JOHNSON,GEORGE 7341 EAST STONE CREEK ANAHEIM CA 92808 $299,777.35
600121647 BLACK,BENJAMIN 213 VIA ALAMEDA TORRANCE CA 90277 $273,569.58
600121648 RHODES,CARL 2310 PIER AVENUE SANTA MONICA CA 90405 $316,552.86
600121649 KALMANOWITZ,STUART 730 WEST VALENCIA ME FULLERTON CA 92835 $399,461.43
600121650 COOKE,ANTONY 10525 WOODBRIDGE STREE LOS ANGELES CA 92602 $441,374.05
600121655 LEE,DALE 1956 FLUME DRIVE EL CAJON CA 92021 $359,739.44
600121657 REDGATE,THOMAS 5851 MIDWAY DRIVE HUNTINGTON BEAC CA 92648 $275,395.46
600121662 SALES,CARLOS 9344 VISTA SERENA CYPRESS CA 90630 $247,811.29
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121609 CARTER,RICHARD 7.500 .250 7.250 .0400 7.210 12/01/2027
600121611 ZANGRILLI,TODD 7.625 .250 7.375 .0400 7.335 12/01/2027
600121614 BROOKS,STEPHEN 7.500 .250 7.250 .0400 7.210 12/01/2027
600121617 DIAMOND,DAVID 7.625 .250 7.375 .0400 7.335 12/01/2027
600121624 COFFEY,KENDALL 7.500 .250 7.250 .0400 7.210 11/01/2027
600121636 BUCHANAN,FRANK 7.500 .250 7.250 .0400 7.210 12/01/2027
600121646 JOHNSON,GEORGE 7.500 .250 7.250 .0400 7.210 12/01/2027
600121647 BLACK,BENJAMIN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121648 RHODES,CARL 7.250 .250 7.000 .0400 6.960 12/01/2027
600121649 KALMANOWITZ,STUART 8.000 .250 7.750 .0400 7.710 11/01/2027
600121650 COOKE,ANTONY 7.750 .250 7.500 .0400 7.460 11/01/2027
600121655 LEE,DALE 7.625 .250 7.375 .0400 7.335 12/01/2027
600121657 REDGATE,THOMAS 7.500 .250 7.250 .0400 7.210 12/01/2027
600121662 SALES,CARLOS 7.375 .250 7.125 .0400 7.085 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>
600121609 CARTER,RICHARD 1587093873 $1,854.32 01/01/1998 360
600121611 ZANGRILLI,TODD 1587094515 $1,981.83 01/01/1998 360
600121614 BROOKS,STEPHEN 1589126260 $1,734.06 01/01/1998 360
600121617 DIAMOND,DAVID 1589138189 $3,185.08 01/01/1998 360
600121624 COFFEY,KENDALL 1589144454 $3,076.54 01/01/1998 360
600121636 BUCHANAN,FRANK 1590057608 $2,272.45 01/01/1998 360
600121646 JOHNSON,GEORGE 1595060814 $2,097.65 01/01/1998 360
600121647 BLACK,BENJAMIN 1595061216 $1,962.97 01/01/1998 360
600121648 RHODES,CARL 1595061941 $2,161.14 01/01/1998 360
600121649 KALMANOWITZ,STUART 1595062015 $2,935.06 01/01/1998 360
600121650 COOKE,ANTONY 1595062332 $3,166.55 01/01/1998 360
600121655 LEE,DALE 1595063890 $2,548.06 01/01/1998 360
600121657 REDGATE,THOMAS 1595064407 $1,927.04 01/01/1998 360
600121662 SALES,CARLOS 1595065410 $1,712.88 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121609 CARTER,RICHARD $331,500.00 N
600121611 ZANGRILLI,TODD $365,000.00 N
600121614 BROOKS,STEPHEN $310,000.00 N
600121617 DIAMOND,DAVID $670,000.00 N
600121624 COFFEY,KENDALL $550,000.00 N
600121636 BUCHANAN,FRANK $615,000.00 N
600121646 JOHNSON,GEORGE $400,000.00 N
600121647 BLACK,BENJAMIN $345,000.00 N
600121648 RHODES,CARL $396,000.00 N
600121649 KALMANOWITZ,STUART $520,000.00 N
600121650 COOKE,ANTONY $575,000.00 N
600121655 LEE,DALE $450,000.00 N
600121657 REDGATE,THOMAS $367,500.00 N
600121662 SALES,CARLOS $340,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 89
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121663 FODOR,BARRY 1410 DIAMOND STREET REDONDO BEACH CA 90277 $335,768.76
600121677 NELSON,MARIA 1725 PINE AVENUE MANHATTAN BEACH CA 90266 $399,447.63
600121679 COKELY,VINCENT 6351 RIGGS PLACE LOS ANGELES CA 90045 $409,710.62
600121682 MESGHALI,KAMRAN 4636 BREWSTER DRIVE TARZANA CA 91356 $371,737.44
600121684 MIMICA-GEZZAN,SERGIO 10129 BRIDLEVALE DRIVE LOS ANGELES CA 90064 $339,753.92
600121687 GINDY,TODD 20551 DE FOREST STREET WOODLAND HILLS CA 91364 $339,747.67
600121688 DEFEO,GUY 339 28TH AVENUE VENICE CA 90291 $275,810.05
600121689 PAPPI,GEORGE 5728 VIA DE MANSION LA VERNE CA 91750 $275,800.23
600121691 PADORR,ROBIN 704 OXFORD AVENUE MARINA DEL REY CA 90292 $239,817.37
600121696 STEWART,TERESA 7685 LAKEVILLE HIGHWA PETALUMA CA 94954 $407,712.03
600121701 LESSEM,MARK 3863 SHERWOOD PLACE SHERMAN OAKS CA 91423 $399,717.68
600121708 FAGELBAUM,JEROLD 2594 GREENVALLEY ROAD LOS ANGELES CA 90046 $408,703.97
600121720 VALDES,ROBERT 734 STUART COURT ELMHURST IL 60126 $314,766.22
600121730 LEWIS,EDWARD 11525 ATTINGHAM COURT MANASSAS VA 20111 $355,495.85
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121663 FODOR,BARRY 7.875 .250 7.625 .0400 7.585 12/01/2027
600121677 NELSON,MARIA 7.875 .250 7.625 .0400 7.585 11/01/2027
600121679 COKELY,VINCENT 7.750 .250 7.500 .0400 7.460 12/01/2027
600121682 MESGHALI,KAMRAN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121684 MIMICA-GEZZAN,SERGIO 7.625 .250 7.375 .0400 7.335 12/01/2027
600121687 GINDY,TODD 7.500 .250 7.250 .0400 7.210 12/01/2027
600121688 DEFEO,GUY 7.875 .250 7.625 .0400 7.585 12/01/2027
600121689 PAPPI,GEORGE 7.625 .250 7.375 .0400 7.335 12/01/2027
600121691 PADORR,ROBIN 7.375 .250 7.125 .0400 7.085 12/01/2027
600121696 STEWART,TERESA 7.750 .250 7.500 .0400 7.460 12/01/2027
600121701 LESSEM,MARK 7.750 .250 7.500 .0400 7.460 12/01/2027
600121708 FAGELBAUM,JEROLD 7.625 .250 7.375 .0400 7.335 12/01/2027
600121720 VALDES,ROBERT 7.500 .250 7.250 .0400 7.210 12/01/2027
600121730 LEWIS,EDWARD 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>
600121663 FODOR,BARRY 1595065432 $2,436.24 01/01/1998 360
600121677 NELSON,MARIA 1596049056 $2,900.28 01/01/1998 360
600121679 COKELY,VINCENT 1596049668 $2,937.30 01/01/1998 360
600121682 MESGHALI,KAMRAN 1596050689 $2,665.06 01/01/1998 360
600121684 MIMICA-GEZZAN,SERGIO 1596050838 $2,406.50 01/01/1998 360
600121687 GINDY,TODD 1596051207 $2,377.33 01/01/1998 360
600121688 DEFEO,GUY 1596051218 $2,001.20 01/01/1998 360
600121689 PAPPI,GEORGE 1596051579 $1,953.52 01/01/1998 360
600121691 PADORR,ROBIN 1596051739 $1,657.63 01/01/1998 360
600121696 STEWART,TERESA 1596052414 $2,922.97 01/01/1998 360
600121701 LESSEM,MARK 1596052731 $2,865.65 01/01/1998 360
600121708 FAGELBAUM,JEROLD 1596054500 $2,894.88 01/01/1998 360
600121720 VALDES,ROBERT 1613029789 $2,202.53 01/01/1998 360
600121730 LEWIS,EDWARD 1761113710 $2,550.43 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121663 FODOR,BARRY $420,000.00 N
600121677 NELSON,MARIA $550,000.00 N
600121679 COKELY,VINCENT $550,000.00 N
600121682 MESGHALI,KAMRAN $465,000.00 N
600121684 MIMICA-GEZZAN,SERGIO $825,500.00 N
600121687 GINDY,TODD $425,000.00 N
600121688 DEFEO,GUY $345,000.00 N
600121689 PAPPI,GEORGE $345,000.00 N
600121691 PADORR,ROBIN $479,900.00 N
600121696 STEWART,TERESA $510,000.00 N
600121701 LESSEM,MARK $547,000.00 N
600121708 FAGELBAUM,JEROLD $515,000.00 N
600121720 VALDES,ROBERT $430,000.00 N
600121730 LEWIS,EDWARD $450,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 90
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121733 BROWN,GEORGE 2523 HUNTER MILL ROAD OAKTON VA 22124 $272,816.82
600121736 REINHOLD,JAMES 6 CRESCENT DRIVE CHELMSFORD MA 01824 $267,820.18
600121739 GALLO,LOUIS 387 7TH ST BROOKLYN NY 11215 $339,741.28
600121741 JACOBS,SAMUEL 1880 EAST 27TH ST BROOKLYN NY 11229 $295,796.29
600121744 HIEBERT,DAVID 1706 MARSHALL COURT U LOS ALTOS CA 94024 $427,690.22
600121749 OSKVAREK,EVANGELINE 140150 11TH ST KEY COLONY BEAC FL 33050 $262,935.06
600121755 DROZANOWSKI,JAMES 275 WEST 96TH STREET NEW YORK NY 10025 $249,804.98
600121756 FILIPPELLI,MARLENE 410 S BARRINGTON AVE LOS ANGELES CA 90049 $349,726.96
600121758 FUKUMURA,MICHAEL 136 VERDI AVE ENCINITAS CA 92007 $345,056.29
600121762 JACOBY,DAVID 40 EAGLE CHASE UNIT WOODBURY NY 11797 $307,298.85
600121765 LEE,MARTIN 855 VISTA MONTARA CI PACIFICA CA 94044 $238,045.03
600121772 SOSNOWY,JOHN 2120 8TH AVE N 102 SEATTLE WA 98109 $251,660.69
600121773 SOMMER,FRED 870 ANDROMEDA LANE FOSTER CITY CA 94404 $283,409.71
600121774 ADDEO,JOHN 1650 JACKSON ST UNIT SAN FRANCISCO CA 94109 $261,800.64
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121733 BROWN,GEORGE 8.000 .250 7.750 .0400 7.710 12/01/2027
600121736 REINHOLD,JAMES 8.000 .250 7.750 .0400 7.710 12/01/2027
600121739 GALLO,LOUIS 7.375 .250 7.125 .0400 7.085 12/01/2027
600121741 JACOBS,SAMUEL 7.875 .250 7.625 .0400 7.585 12/01/2027
600121744 HIEBERT,DAVID 7.625 .250 7.375 .0400 7.335 12/01/2027
600121749 OSKVAREK,EVANGELINE 7.875 .250 7.625 .0400 7.585 12/01/2027
600121755 DROZANOWSKI,JAMES 7.250 .250 7.000 .0400 6.960 12/01/2027
600121756 FILIPPELLI,MARLENE 7.250 .250 7.000 .0400 6.960 12/01/2027
600121758 FUKUMURA,MICHAEL 7.750 .250 7.500 .0400 7.460 12/01/2027
600121762 JACOBY,DAVID 8.125 .250 7.875 .0400 7.835 12/01/2027
600121765 LEE,MARTIN 7.500 .250 7.250 .0400 7.210 11/01/2027
600121772 SOSNOWY,JOHN 8.000 .250 7.750 .0400 7.710 11/01/2027
600121773 SOMMER,FRED 8.000 .250 7.750 .0400 7.710 12/01/2027
600121774 ADDEO,JOHN 7.375 .250 7.125 .0400 7.085 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>
600121733 BROWN,GEORGE 1761121150 $2,003.18 01/01/1998 360
600121736 REINHOLD,JAMES 1813088136 $1,966.49 01/01/1998 360
600121739 GALLO,LOUIS 1111138398 $2,348.30 01/01/1998 360
600121741 JACOBS,SAMUEL 1500388040 $2,146.21 01/01/1998 360
600121744 HIEBERT,DAVID 1561377478 $3,029.36 01/01/1998 360
600121749 OSKVAREK,EVANGELINE 1589142120 $1,911.29 01/01/1998 360
600121755 DROZANOWSKI,JAMES 1117000724 $1,705.44 01/01/1998 360
600121756 FILIPPELLI,MARLENE 1230013890 $2,387.62 01/01/1998 360
600121758 FUKUMURA,MICHAEL 1243010104 $2,473.77 01/01/1998 360
600121762 JACOBY,DAVID 1500378852 $2,283.18 01/01/1998 360
600121765 LEE,MARTIN 1506357742 $1,666.93 01/01/1998 360
600121772 SOSNOWY,JOHN 1513207273 $1,849.09 01/01/1998 360
600121773 SOMMER,FRED 1561376646 $2,080.96 01/01/1998 360
600121774 ADDEO,JOHN 1561380574 $1,809.57 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121733 BROWN,GEORGE $420,000.00 N
600121736 REINHOLD,JAMES $366,000.00 N
600121739 GALLO,LOUIS $425,000.00 N
600121741 JACOBS,SAMUEL $370,000.00 N
600121744 HIEBERT,DAVID $535,000.00 N
600121749 OSKVAREK,EVANGELINE $335,000.00 N
600121755 DROZANOWSKI,JAMES $345,000.00 N
600121756 FILIPPELLI,MARLENE $437,500.00 N
600121758 FUKUMURA,MICHAEL $450,000.00 N
600121762 JACOBY,DAVID $410,000.00 N
600121765 LEE,MARTIN $298,000.00 N
600121772 SOSNOWY,JOHN $315,000.00 N
600121773 SOMMER,FRED $354,500.00 N
600121774 ADDEO,JOHN $340,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 91
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121777 LINDSAY,CINDY 770 POTATO PATCH DR VAIL CO 81657 $431,695.09
600121778 STIEFEL,LINDA 3 RIVER RUN SUNDANCE UT 84604 $431,959.97
600121789 OKIN,EUGENE 6519 SPYGLASS VILLAS FERNANDINA BEAC FL 32034 $351,732.15
600121797 TANNER,RICHARD 35 TULIP TREE LN UN MAMARONECK NY 10543 $268,610.28
600121798 PENINGTON,GREGORY 3144 234TH COURT SE ISSAQUAH WA 98027 $240,571.54
600121799 TORRES,MARGARET 5009 WATERS EDGE WAY COOPER CITY FL 33330 $333,446.08
600121802 MANOS,ANTONINUS 905 TRAIL RUN LN WEST CHESTER PA 19382 $344,717.21
600121803 TOMECHKO,EDWARD 65 DELANCY CT PHOENIXVILLE PA 19460 $362,131.05
600121805 GROSSE,JOHN 3310 S PLEASANT PL CHANDLER AZ 85248 $243,200.48
600121806 BALLE,DEE 3800 E LINCOLN DR UNI PHOENIX AZ 85018 $429,696.51
600121811 BUTANI,GIRADHAR 20335 VIA LAS VILLAS YORBA LINDA CA 92887 $409,088.48
600121814 MORGAN,DANIEL 4186 SHOREBREAK DR HUNTINGTON BEAC CA 92649 $253,816.16
600121815 LISENBEE,GARY 10 MANDALAY LAGUNA NIGUEL CA 92677 $453,363.29
600121816 SEDMAN,ERIC 28605 WAGON RD AGOURA CA 91301 $977,309.74
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121777 LINDSAY,CINDY 7.750 .250 7.500 .0400 7.460 12/01/2027
600121778 STIEFEL,LINDA 8.000 .250 7.750 .0400 7.710 12/01/2027
600121789 OKIN,EUGENE 7.375 .250 7.125 .0400 7.085 12/01/2027
600121797 TANNER,RICHARD 7.750 .250 7.500 .0400 7.460 12/01/2027
600121798 PENINGTON,GREGORY 7.875 .250 7.625 .0400 7.585 11/01/2027
600121799 TORRES,MARGARET 7.375 .250 7.125 .0400 7.085 12/01/2027
600121802 MANOS,ANTONINUS 7.000 .250 6.750 .0400 6.710 12/01/2027
600121803 TOMECHKO,EDWARD 7.500 .250 7.250 .0400 7.210 12/01/2027
600121805 GROSSE,JOHN 7.000 .250 6.750 .0400 6.710 12/01/2027
600121806 BALLE,DEE 7.750 .250 7.500 .0400 7.460 12/01/2027
600121811 BUTANI,GIRADHAR 7.375 .250 7.125 .0400 7.085 12/01/2027
600121814 MORGAN,DANIEL 7.625 .250 7.375 .0400 7.335 12/01/2027
600121815 LISENBEE,GARY 7.500 .250 7.250 .0400 7.210 12/01/2027
600121816 SEDMAN,ERIC 7.750 .250 7.500 .0400 7.460 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>
600121777 LINDSAY,CINDY 1579064009 $3,094.91 01/01/1998 360
600121778 STIEFEL,LINDA 1579064439 $3,171.70 01/01/1998 360
600121789 OKIN,EUGENE 1590059975 $2,431.18 01/01/1998 360
600121797 TANNER,RICHARD 1111139302 $1,925.72 01/01/1998 360
600121798 PENINGTON,GREGORY 1113064102 $1,754.67 01/01/1998 360
600121799 TORRES,MARGARET 1114007578 $2,304.78 01/01/1998 360
600121802 MANOS,ANTONINUS 1171163190 $2,295.29 01/01/1998 360
600121803 TOMECHKO,EDWARD 1171165490 $2,533.95 01/01/1998 360
600121805 GROSSE,JOHN 1200004584 $1,619.35 01/01/1998 360
600121806 BALLE,DEE 1200004857 $3,080.57 01/01/1998 360
600121811 BUTANI,GIRADHAR 1231009120 $2,827.62 01/01/1998 360
600121814 MORGAN,DANIEL 1233022480 $1,797.80 01/01/1998 360
600121815 LISENBEE,GARY 1236006129 $3,172.34 01/01/1998 360
600121816 SEDMAN,ERIC 1246025072 $7,006.51 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121777 LINDSAY,CINDY $545,000.00 N
600121778 STIEFEL,LINDA $665,000.00 N
600121789 OKIN,EUGENE $475,000.00 N
600121797 TANNER,RICHARD $336,000.00 N
600121798 PENINGTON,GREGORY $329,000.00 N
600121799 TORRES,MARGARET $417,170.00 N
600121802 MANOS,ANTONINUS $454,927.00 N
600121803 TOMECHKO,EDWARD $454,124.00 N
600121805 GROSSE,JOHN $304,301.00 N
600121806 BALLE,DEE $550,000.00 N
600121811 BUTANI,GIRADHAR $511,773.00 N
600121814 MORGAN,DANIEL $602,000.00 N
600121815 LISENBEE,GARY $595,000.00 N
600121816 SEDMAN,ERIC $1,550,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 92
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121825 DAUGHERTY,RICHARD 7 CANON DRIVE GREENWOOD VILLA CO 80111 $439,681.54
600121826 HJORTSVANG,DAVID 34344 EUCALYPTUS TERRA FREMONT CA 94555 $295,713.33
600121833 HUFF,GREGORY 1957 WOODMOOR RIDGE WILDWOOD MO 63011 $255,599.37
600121834 DECOTEAU,MURRY 3737 ESSEN LANE #33 BATON ROUGE LA 70809 $351,501.50
600121837 LIN,KUANG 2078 PASEO DEL ORO SAN JOSE CA 95124 $326,353.92
600121838 YI,CHUNIL 6491 BRADDOCK CIR HUNTINGTON BEAC CA 92648 $360,149.99
600121842 TRUONG,HIEP 19642 ASHWORTH CIRCLE HUNTINGTON BEAC CA 92646 $282,000.08
600121843 OTONARI,TOM 1402 SAINT KITTS LN FOSTER CITY CA 94404 $366,453.56
600121844 LEVINE,MARK 13 NEW HAVEN LAGUNA NIGUEL CA 92677 $316,551.08
600121845 BANKS,DARRYL 2219 PINARD ST MILPITAS CA 95035 $233,469.52
600121846 TROUNG,PENG 2208 EMERALD HILLS DR SAN JOSE CA 94131 $239,676.87
600121847 DEWALT,GEORGE 31761 E NINE DR LAGUNA NIGUEL CA 92677 $363,441.37
600121848 WEIR,HOWARD 1744 MIRASSOU PL SAN JOSE CA 95124 $255,646.48
600121850 YOSHIKANE,PATRICK 16292 TYPHOON LN HUNTINGTON BEAC CA 92649 $398,434.97
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121825 DAUGHERTY,RICHARD 7.625 .250 7.375 .0400 7.335 12/01/2027
600121826 HJORTSVANG,DAVID 7.125 .250 6.875 .0400 6.835 12/01/2027
600121833 HUFF,GREGORY 7.250 .250 7.000 .0400 6.960 11/01/2027
600121834 DECOTEAU,MURRY 7.750 .250 7.500 .0400 7.460 11/01/2027
600121837 LIN,KUANG 8.125 .250 7.875 .0400 7.835 10/01/2027
600121838 YI,CHUNIL 7.875 .250 7.625 .0400 7.585 10/01/2027
600121842 TRUONG,HIEP 7.750 .250 7.500 .0400 7.460 11/01/2027
600121843 OTONARI,TOM 7.500 .250 7.250 .0400 7.210 11/01/2027
600121844 LEVINE,MARK 7.750 .250 7.500 .0400 7.460 11/01/2027
600121845 BANKS,DARRYL 7.875 .250 7.625 .0400 7.585 11/01/2027
600121846 TROUNG,PENG 8.000 .250 7.750 .0400 7.710 11/01/2027
600121847 DEWALT,GEORGE 7.875 .250 7.625 .0400 7.585 11/01/2027
600121848 WEIR,HOWARD 7.875 .250 7.625 .0400 7.585 11/01/2027
600121850 YOSHIKANE,PATRICK 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>
600121825 DAUGHERTY,RICHARD 1463009564 $3,114.29 01/01/1998 360
600121826 HJORTSVANG,DAVID 1470006012 $1,993.87 01/01/1998 360
600121833 HUFF,GREGORY 1504168556 $1,746.38 01/01/1998 360
600121834 DECOTEAU,MURRY 1504174537 $2,521.78 01/01/1998 360
600121837 LIN,KUANG 1506341061 $2,427.97 01/01/1998 360
600121838 YI,CHUNIL 1506344183 $2,616.78 01/01/1998 360
600121842 TRUONG,HIEP 1506353741 $2,023.15 01/01/1998 360
600121843 OTONARI,TOM 1506354595 $2,566.12 01/01/1998 360
600121844 LEVINE,MARK 1506355930 $2,271.03 01/01/1998 360
600121845 BANKS,DARRYL 1506357720 $1,696.66 01/01/1998 360
600121846 TROUNG,PENG 1506363075 $1,761.03 01/01/1998 360
600121847 DEWALT,GEORGE 1506363982 $2,639.25 01/01/1998 360
600121848 WEIR,HOWARD 1506364001 $1,856.18 01/01/1998 360
600121850 YOSHIKANE,PATRICK 1506373181 $2,858.48 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121825 DAUGHERTY,RICHARD $555,086.00 N
600121826 HJORTSVANG,DAVID $369,950.00 N
600121833 HUFF,GREGORY $320,000.00 N
600121834 DECOTEAU,MURRY $440,000.00 N
600121837 LIN,KUANG $450,000.00 N
600121838 YI,CHUNIL $481,235.00 N
600121842 TRUONG,HIEP $353,000.00 N
600121843 OTONARI,TOM $459,000.00 N
600121844 LEVINE,MARK $605,000.00 N
600121845 BANKS,DARRYL $355,000.00 N
600121846 TROUNG,PENG $300,000.00 N
600121847 DEWALT,GEORGE $455,000.00 N
600121848 WEIR,HOWARD $320,000.00 N
600121850 YOSHIKANE,PATRICK $515,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 93
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121851 SCHMIDT,WILLIAM 5282 VIA BERNARDO YORBA LINDA CA 92887 $280,880.79
600121852 WESTLAND,JOHN 31505 PASEO CHRISTINA SAN JUAN CAPIST CA 92675 $368,527.78
600121853 COOPER,MELVIN 60 LLAMA CT RENO NV 89511 $260,593.47
600121857 SONG,THOMAS 23904 NE 69TH PLACE REDMOND WA 98053 $329,532.68
600121863 GILBERT,WILLIAM 13929 WHETSTONE MANOR CLIFTON VA 20124 $249,636.97
600121866 FITZGERALD,MICHAEL 215 TURNBERRY CIRCLE FAYETTEVILLE GA 30215 $257,534.77
600121867 TRIONE,GERALD 3717 MEADOW LAKE LN HOUSTON TX 77027 $275,411.82
600121868 NASH,ROY 10678 LAKE IAMONIA DR TALLAHASSEE FL 32312 $258,233.77
600121872 RUBIN,STEVEN 2110 KINSMON DRIVE MARIETTA GA 30062 $326,375.38
600121874 PEREZ, 10425 SW 129TH TERR MIAMI FL 33176 $259,821.07
600121875 WARREN,R 255 SOUTHERN HILL DR DULUTH GA 30097 $238,635.17
600121879 MCCASKILL,WILLIAM 1071 STONEBRIDGE PARK FRANKLIN TN 37069 $356,507.01
600121880 WHITE,BILL 6537 CALLE BONITA EL PASO TX 79932 $263,635.45
600121881 BARR,DOUGLAS 12010 CORAL DAWN ROAD ALBUQUERQUE NM 87122 $269,602.45
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121851 SCHMIDT,WILLIAM 8.125 .250 7.875 .0400 7.835 11/01/2027
600121852 WESTLAND,JOHN 8.250 .250 8.000 .0400 7.960 11/01/2027
600121853 COOPER,MELVIN 7.750 .250 7.500 .0400 7.460 10/01/2027
600121857 SONG,THOMAS 7.750 .250 7.500 .0400 7.460 11/01/2027
600121863 GILBERT,WILLIAM 7.625 .250 7.375 .0400 7.335 11/01/2027
600121866 FITZGERALD,MICHAEL 7.750 .250 7.500 .0400 7.460 11/01/2027
600121867 TRIONE,GERALD 7.750 .250 7.500 .0400 7.460 10/01/2027
600121868 NASH,ROY 7.750 .250 7.500 .0400 7.460 11/01/2027
600121872 RUBIN,STEVEN 7.625 .250 7.375 .0400 7.335 11/01/2027
600121874 PEREZ, 7.875 .250 7.625 .0400 7.585 12/01/2027
600121875 WARREN,R 7.375 .250 7.125 .0400 7.085 11/01/2027
600121879 MCCASKILL,WILLIAM 7.875 .250 7.625 .0400 7.585 11/01/2027
600121880 WHITE,BILL 7.875 .250 7.625 .0400 7.585 11/01/2027
600121881 BARR,DOUGLAS 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>
600121851 SCHMIDT,WILLIAM 1506378742 $2,088.28 01/01/1998 360
600121852 WESTLAND,JOHN 1506378764 $2,772.18 01/01/1998 360
600121853 COOPER,MELVIN 1507289660 $1,870.91 01/01/1998 360
600121857 SONG,THOMAS 1507331020 $2,364.16 01/01/1998 360
600121863 GILBERT,WILLIAM 1507342853 $1,769.48 01/01/1998 360
600121866 FITZGERALD,MICHAEL 1511177794 $1,847.63 01/01/1998 360
600121867 TRIONE,GERALD 1511184290 $1,977.30 01/01/1998 360
600121868 NASH,ROY 1511190646 $1,852.65 01/01/1998 360
600121872 RUBIN,STEVEN 1511197157 $2,313.42 01/01/1998 360
600121874 PEREZ, 1511200400 $1,885.18 01/01/1998 360
600121875 WARREN,R 1511200502 $1,650.71 01/01/1998 360
600121879 MCCASKILL,WILLIAM 1511206338 $2,588.50 01/01/1998 360
600121880 WHITE,BILL 1512164878 $1,914.18 01/01/1998 360
600121881 BARR,DOUGLAS 1512176968 $1,934.31 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121851 SCHMIDT,WILLIAM $360,000.00 N
600121852 WESTLAND,JOHN $525,000.00 N
600121853 COOPER,MELVIN $393,000.00 N
600121857 SONG,THOMAS $460,000.00 N
600121863 GILBERT,WILLIAM $318,000.00 N
600121866 FITZGERALD,MICHAEL $328,000.00 N
600121867 TRIONE,GERALD $345,000.00 N
600121868 NASH,ROY $330,000.00 N
600121872 RUBIN,STEVEN $408,573.00 N
600121874 PEREZ, $330,000.00 N
600121875 WARREN,R $489,000.00 N
600121879 MCCASKILL,WILLIAM $447,000.00 N
600121880 WHITE,BILL $352,000.00 N
600121881 BARR,DOUGLAS $360,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 94
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121888 NAIRON,BAXTER 5136 CHINA GARDEN DRI AUSTIN TX 78730 $355,495.87
600121889 RICHMOND,STEPHEN 3902 N VIA DE LA LUNA TUCSON AZ 85749 $247,815.94
600121890 HALL,MICHAEL 6301 N 4TH DR PHOENIX AZ 85013 $311,535.45
600121892 BARRY,JOHN 3322 259TH PLACE SE ISSAQUAH WA 98029 $335,536.02
600121893 TUCKER,GARY 11010 172ND PL NE REDMOND WA 98052 $313,205.83
600121894 GREIG,JAMES 3 GRAND MIRAMAR DR HENDERSON NV 89011 $389,461.45
600121898 COYLE,FRANK 1457 185TH AVE NE BELLEVUE WA 98009 $291,575.97
600121900 POOLE,BRADLEY 3888 SAINT VINCENT PL BOULDER CO 80301 $309,526.77
600121902 ALLEN,GARY 11332 125TH AVE NE LAKE STEVENS WA 98258 $389,833.08
600121905 MOHAN,JAMES 8244 DEER RUN RD LONGMONT CO 80503 $280,302.48
600121908 BRODKIN,RICHARD 31425 FORESTLAND DR EVERGREEN CO 80539 $252,309.81
600121910 PISCITELLI,RONALD 15753 CAYENNE CIRCLE MORRISON CO 80465 $252,151.30
600121911 KOENIG,ROBERT 19410 KERSHAW COURT MONUMENT CO 80132 $263,606.89
600121913 ZAGORIN,MARK 1615 RANDOLPH RIDGE T AUSTIN TX 78746 $242,220.10
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121888 NAIRON,BAXTER 7.750 .250 7.500 .0400 7.460 11/01/2027
600121889 RICHMOND,STEPHEN 7.500 .250 7.250 .0400 7.210 12/01/2027
600121890 HALL,MICHAEL 7.500 .250 7.250 .0400 7.210 11/01/2027
600121892 BARRY,JOHN 7.875 .250 7.625 .0400 7.585 11/01/2027
600121893 TUCKER,GARY 7.750 .250 7.500 .0400 7.460 11/01/2027
600121894 GREIG,JAMES 7.875 .250 7.625 .0400 7.585 11/01/2027
600121898 COYLE,FRANK 7.625 .250 7.375 .0400 7.335 11/01/2027
600121900 POOLE,BRADLEY 7.375 .250 7.125 .0400 7.085 11/01/2027
600121902 ALLEN,GARY 7.625 .250 7.375 .0400 7.335 11/01/2027
600121905 MOHAN,JAMES 7.750 .250 7.500 .0400 7.460 11/01/2027
600121908 BRODKIN,RICHARD 8.000 .250 7.750 .0400 7.710 11/01/2027
600121910 PISCITELLI,RONALD 7.875 .250 7.625 .0400 7.585 11/01/2027
600121911 KOENIG,ROBERT 7.500 .250 7.250 .0400 7.210 11/01/2027
600121913 ZAGORIN,MARK 7.500 .250 7.250 .0400 7.210 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>
600121888 NAIRON,BAXTER 1512182869 $2,550.42 01/01/1998 360
600121889 RICHMOND,STEPHEN 1512188027 $1,734.06 01/01/1998 360
600121890 HALL,MICHAEL 1512903519 $2,181.55 01/01/1998 360
600121892 BARRY,JOHN 1513193940 $2,436.23 01/01/1998 360
600121893 TUCKER,GARY 1513196280 $2,247.03 01/01/1998 360
600121894 GREIG,JAMES 1513199357 $2,827.77 01/01/1998 360
600121898 COYLE,FRANK 1513205100 $2,066.76 01/01/1998 360
600121900 POOLE,BRADLEY 1513206500 $2,141.10 01/01/1998 360
600121902 ALLEN,GARY 1513207783 $2,763.23 01/01/1998 360
600121905 MOHAN,JAMES 1513209756 $2,010.97 01/01/1998 360
600121908 BRODKIN,RICHARD 1513211951 $1,853.86 01/01/1998 360
600121910 PISCITELLI,RONALD 1513214552 $1,830.81 01/01/1998 360
600121911 KOENIG,ROBERT 1513214869 $1,845.93 01/01/1998 360
600121913 ZAGORIN,MARK 1520016049 $1,694.90 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121888 NAIRON,BAXTER $445,000.00 N
600121889 RICHMOND,STEPHEN $312,000.00 N
600121890 HALL,MICHAEL $412,000.00 N
600121892 BARRY,JOHN $420,000.00 N
600121893 TUCKER,GARY $392,100.00 N
600121894 GREIG,JAMES $800,000.00 N
600121898 COYLE,FRANK $380,000.00 N
600121900 POOLE,BRADLEY $467,000.00 N
600121902 ALLEN,GARY $520,000.00 N
600121905 MOHAN,JAMES $490,000.00 N
600121908 BRODKIN,RICHARD $336,882.00 N
600121910 PISCITELLI,RONALD $328,000.00 N
600121911 KOENIG,ROBERT $330,000.00 N
600121913 ZAGORIN,MARK $303,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 95
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121916 REYNOLDS,RICHARD 321 MARTEL COURT COPPELL TX 75019 $291,583.44
600121918 GURWITZ,GARY 5601 N CYNTHIA COURT MCALLEN TX 78504 $422,684.59
600121923 MANDELL,THOMAS 5932 CARLILE COURT ROSEVILLE CA 95746 $347,741.73
600121924 THOMPSON,KARL 19 WATERCREST COURT SACRAMENTO CA 95831 $299,777.36
600121925 COROMINAS,EDWARD 8916 LOS POSAS COURT LOOMIS CA 95650 $351,745.24
600121926 KLETZER,KENNETH 306 DICKENS WAY SANTA CRUZ CA 95064 $249,832.25
600121927 DEAMATTSON,JORDAN 550 MINTON LANE MOUNTAIN VIEW CA 94041 $299,788.26
600121928 MILANI,CARLO 1930 HIGH RIDGE COURT WALNUT CREEK CA 94596 $255,637.46
600121930 HEDGPETH,LOIS 24 TAMARISK DRIVE MORAGA CA 94556 $370,738.15
600121931 FEBER,MARK 17470 BLUE JAY DRIVE MORGAN HILL CA 95037 $287,772.89
600121932 DUNCAN,DONNIE 4015 WEMBLEY TERRACE DALLAS TX 75220 $256,214.42
600121934 HOYL,RON 365 HEARTHSTONE LANE COPPELL TX 75019 $307,771.41
600121941 GENTSCH,DAVID 19498 SE 57TH PL ISSAQUAH WA 98027 $299,777.35
600121950 SCHMITT,WILLIAM 33 LITTLE COMFORT R SAVANNAH GA 31411 $334,251.74
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121916 REYNOLDS,RICHARD 7.500 .250 7.250 .0400 7.210 12/01/2027
600121918 GURWITZ,GARY 7.500 .250 7.250 .0400 7.210 12/01/2027
600121923 MANDELL,THOMAS 7.500 .250 7.250 .0400 7.210 12/01/2027
600121924 THOMPSON,KARL 7.500 .250 7.250 .0400 7.210 12/01/2027
600121925 COROMINAS,EDWARD 7.625 .250 7.375 .0400 7.335 12/01/2027
600121926 KLETZER,KENNETH 8.000 .250 7.750 .0400 7.710 12/01/2027
600121927 DEAMATTSON,JORDAN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121928 MILANI,CARLO 7.750 .250 7.500 .0400 7.460 11/01/2027
600121930 HEDGPETH,LOIS 7.750 .250 7.500 .0400 7.460 12/01/2027
600121931 FEBER,MARK 8.000 .250 7.750 .0400 7.710 12/01/2027
600121932 DUNCAN,DONNIE 7.625 .250 7.375 .0400 7.335 12/01/2027
600121934 HOYL,RON 7.500 .250 7.250 .0400 7.210 12/01/2027
600121941 GENTSCH,DAVID 7.500 .250 7.250 .0400 7.210 12/01/2027
600121950 SCHMITT,WILLIAM 7.500 .250 7.250 .0400 7.210 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>
600121916 REYNOLDS,RICHARD 1524011750 $2,040.31 01/01/1998 360
600121918 GURWITZ,GARY 1526011092 $2,971.66 01/01/1998 360
600121923 MANDELL,THOMAS 1550018430 $2,433.27 01/01/1998 360
600121924 THOMPSON,KARL 1550018462 $2,097.64 01/01/1998 360
600121925 COROMINAS,EDWARD 1550021070 $2,491.43 01/01/1998 360
600121926 KLETZER,KENNETH 1561375600 $1,834.42 01/01/1998 360
600121927 DEAMATTSON,JORDAN 1561376180 $2,149.24 01/01/1998 360
600121928 MILANI,CARLO 1561376409 $1,834.02 01/01/1998 360
600121930 HEDGPETH,LOIS 1561379280 $2,657.89 01/01/1998 360
600121931 FEBER,MARK 1561379860 $2,113.25 01/01/1998 360
600121932 DUNCAN,DONNIE 1563165620 $1,814.79 01/01/1998 360
600121934 HOYL,RON 1563177593 $2,153.59 01/01/1998 360
600121941 GENTSCH,DAVID 1565175760 $2,097.65 01/01/1998 360
600121950 SCHMITT,WILLIAM 1566112415 $2,338.88 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121916 REYNOLDS,RICHARD $364,782.00 N
600121918 GURWITZ,GARY $703,000.00 N
600121923 MANDELL,THOMAS $435,000.00 N
600121924 THOMPSON,KARL $430,000.00 N
600121925 COROMINAS,EDWARD $520,000.00 N
600121926 KLETZER,KENNETH $450,000.00 N
600121927 DEAMATTSON,JORDAN $400,000.00 N
600121928 MILANI,CARLO $320,000.00 N
600121930 HEDGPETH,LOIS $575,000.00 N
600121931 FEBER,MARK $360,000.00 N
600121932 DUNCAN,DONNIE $320,500.00 N
600121934 HOYL,RON $385,000.00 N
600121941 GENTSCH,DAVID $470,000.00 N
600121950 SCHMITT,WILLIAM $785,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 96
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121953 FALKENSTEIN,DAVID 9280 STONEY RIDGE LAN ALPHARETTA GA 30022 $439,681.53
600121954 GODWIN,JR 325 HURSTBOURNE LANE DULUTH GA 30097 $282,755.29
600121955 FOWLER,JOSEPH 8270 SOUTHPORT TERRAC DULUTH GA 30097 $244,818.17
600121957 TANON,ARTURO 1015 CHASEWOOD TRAIL ALPHARETTA GA 30202 $268,718.24
600121958 BARNETT,BRIAN 732 WHISPER WIND COU WOODSTOCK GA 30189 $239,817.37
600121959 BRAMLETT,DANIEL 1443 STRATFORD HALL C GRAYSON GA 30221 $256,968.50
600121963 HAGEN,DONALD 17195 WOODSON VIEW LAN RAMONA CA 92065 $295,915.95
600121964 SHAHNAZARIAN,ROGER 5525 CAMINITO MUNDANO SAN DIEGO CA 92130 $261,400.94
600121966 HOROWITZ,MICHAEL 1943 EAST EVERETT DRI PHOENIX AZ 85022 $252,500.84
600121967 WEISS,DEBORAH 7500 E MCCORMICK PARK SCOTTSDALE AZ 85258 $307,082.75
600121969 PANTZER,BARRY 19 NORTH BULLMOOSE CHANDLER AZ 85224 $298,299.71
600121973 ONEAL,GARY 5532 KESTERBROOK BOUL KNOXVILLE TN 37918 $249,814.46
600121974 HARTLEY,ROBERT 19007 HODGESTONE MEWS DAVIDSON NC 28036 $339,493.76
600121977 BROD,JAMES 7 BENCHMARK DR BOULDER CO 80303 $449,690.31
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121953 FALKENSTEIN,DAVID 7.625 .250 7.375 .0400 7.335 12/01/2027
600121954 GODWIN,JR 7.250 .250 7.000 .0400 6.960 11/01/2027
600121955 FOWLER,JOSEPH 7.500 .250 7.250 .0400 7.210 12/01/2027
600121957 TANON,ARTURO 7.125 .250 6.875 .0400 6.835 11/01/2027
600121958 BARNETT,BRIAN 7.375 .250 7.125 .0400 7.085 12/01/2027
600121959 BRAMLETT,DANIEL 7.750 .250 7.500 .0400 7.460 12/01/2027
600121963 HAGEN,DONALD 8.375 .250 8.125 .0400 8.085 12/01/2027
600121964 SHAHNAZARIAN,ROGER 7.375 .250 7.125 .0400 7.085 12/01/2027
600121966 HOROWITZ,MICHAEL 7.875 .250 7.625 .0400 7.585 11/01/2027
600121967 WEISS,DEBORAH 7.750 .250 7.500 .0400 7.460 12/01/2027
600121969 PANTZER,BARRY 8.000 .250 7.750 .0400 7.710 12/01/2027
600121973 ONEAL,GARY 7.500 .250 7.250 .0400 7.210 12/01/2027
600121974 HARTLEY,ROBERT 7.500 .250 7.250 .0400 7.210 11/01/2027
600121977 BROD,JAMES 7.875 .250 7.625 .0400 7.585 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>
600121953 FALKENSTEIN,DAVID 1566113702 $3,114.30 01/01/1998 360
600121954 GODWIN,JR 1566113940 $1,933.29 01/01/1998 360
600121955 FOWLER,JOSEPH 1566114115 $1,713.08 01/01/1998 360
600121957 TANON,ARTURO 1566114578 $1,813.32 01/01/1998 360
600121958 BARNETT,BRIAN 1566115945 $1,657.63 01/01/1998 360
600121959 BRAMLETT,DANIEL 1566116278 $1,842.26 01/01/1998 360
600121963 HAGEN,DONALD 1567210090 $2,250.58 01/01/1998 360
600121964 SHAHNAZARIAN,ROGER 1567210464 $1,806.81 01/01/1998 360
600121966 HOROWITZ,MICHAEL 1569179060 $1,833.34 01/01/1998 360
600121967 WEISS,DEBORAH 1569180105 $2,205.12 01/01/1998 360
600121969 PANTZER,BARRY 1569184310 $2,190.29 01/01/1998 360
600121973 ONEAL,GARY 1577101272 $1,748.04 01/01/1998 360
600121974 HARTLEY,ROBERT 1577105218 $2,377.33 01/01/1998 360
600121977 BROD,JAMES 1579063957 $3,262.82 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121953 FALKENSTEIN,DAVID $550,000.00 N
600121954 GODWIN,JR $360,000.00 N
600121955 FOWLER,JOSEPH $382,000.00 N
600121957 TANON,ARTURO $336,475.00 N
600121958 BARNETT,BRIAN $300,000.00 N
600121959 BRAMLETT,DANIEL $342,900.00 N
600121963 HAGEN,DONALD $381,000.00 N
600121964 SHAHNAZARIAN,ROGER $327,000.00 N
600121966 HOROWITZ,MICHAEL $316,095.00 N
600121967 WEISS,DEBORAH $390,000.00 N
600121969 PANTZER,BARRY $410,000.00 N
600121973 ONEAL,GARY $315,000.00 N
600121974 HARTLEY,ROBERT $475,000.00 N
600121977 BROD,JAMES $600,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 97
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121978 SEDEJ,JOHN 7157 WATERFORD CT LONGMONT CO 80503 $425,299.61
600121983 HEYING,STEVEN 203 WIZARD COURT SAINT CHARLES MO 63304 $374,129.02
600121984 MAHER,WILLIAM 943 LAFITE COURT TOWN & COUNTY MO 63017 $384,721.34
600121987 MCGARVEY,JAMES 7036 REDCOAT DRIVE FLOURTOWN PA 19031 $248,339.76
600121989 BALTER,SIDNEY 7399 GARDENVIEW DRIVE ELKRIDGE MD 21227 $235,320.80
600121990 HUANG,LIANGLII 12811 TERN DRIVE GAITHERSBURG MD 20878 $269,804.58
600121992 WAY,KENNETH 8608 SNOWHILL COURT ROCKVILLE MD 20854 $419,680.41
600121995 STONE,IRA 2509 POINCIANA DR FORT LAUDERDALE FL 33327 $389,724.74
600122017 VAUGHN,BRADLEY 1 SALINAS FOOTHILL RANCH CA 92610 $263,813.67
600122018 HUI,JAMES 2268 NORTH SAN MIGUEL ORANGE CA 92867 $343,757.21
600122033 GOEDKEN,DAVID 364 WOODMERE DRIVE ST CHARLES MO 63303 $255,819.31
600122042 PERCOCO,JAMES 7603 SEABROOK LANE SPRINGFIELD VA 22153 $262,210.08
600122043 PHELPS,RICHARD 104 LINKS END DRIVE CARY NC 27513 $289,546.18
600122044 SAVITZKY,YOAV 157 E 72ND ST UNIT 1 NEW YORK NY 10021 $414,676.25
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121978 SEDEJ,JOHN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121983 HEYING,STEVEN 7.625 .250 7.375 .0400 7.335 12/01/2027
600121984 MAHER,WILLIAM 7.625 .250 7.375 .0400 7.335 12/01/2027
600121987 MCGARVEY,JAMES 7.375 .250 7.125 .0400 7.085 08/01/2027
600121989 BALTER,SIDNEY 7.375 .250 7.125 .0400 7.085 12/01/2027
600121990 HUANG,LIANGLII 7.625 .250 7.375 .0400 7.335 12/01/2027
600121992 WAY,KENNETH 7.375 .250 7.125 .0400 7.085 12/01/2027
600121995 STONE,IRA 7.750 .250 7.500 .0400 7.460 12/01/2027
600122017 VAUGHN,BRADLEY 7.750 .250 7.500 .0400 7.460 12/01/2027
600122018 HUI,JAMES 7.750 .250 7.500 .0400 7.460 12/01/2027
600122033 GOEDKEN,DAVID 7.750 .250 7.500 .0400 7.460 12/01/2027
600122042 PERCOCO,JAMES 7.625 .250 7.375 .0400 7.335 12/01/2027
600122043 PHELPS,RICHARD 7.250 .250 7.000 .0400 6.960 11/01/2027
600122044 SAVITZKY,YOAV 7.250 .250 7.000 .0400 6.960 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>
600121978 SEDEJ,JOHN 1579064280 $3,049.06 01/01/1998 360
600121983 HEYING,STEVEN 1583071100 $2,649.98 01/01/1998 360
600121984 MAHER,WILLIAM 1583075337 $2,725.01 01/01/1998 360
600121987 MCGARVEY,JAMES 1587074948 $1,721.86 01/01/1998 360
600121989 BALTER,SIDNEY 1587089559 $1,626.54 01/01/1998 360
600121990 HUANG,LIANGLII 1587090820 $1,911.05 01/01/1998 360
600121992 WAY,KENNETH 1587092688 $2,900.84 01/01/1998 360
600121995 STONE,IRA 1589137550 $2,794.01 01/01/1998 360
600122017 VAUGHN,BRADLEY 1595065160 $1,891.33 01/01/1998 360
600122018 HUI,JAMES 1595065476 $2,464.46 01/01/1998 360
600122033 GOEDKEN,DAVID 1633014478 $1,834.02 01/01/1998 360
600122042 PERCOCO,JAMES 1761120307 $1,857.25 01/01/1998 360
600122043 PHELPS,RICHARD 1841117152 $1,978.31 01/01/1998 360
600122044 SAVITZKY,YOAV 1111136155 $2,831.04 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121978 SEDEJ,JOHN $532,000.00 N
600121983 HEYING,STEVEN $468,061.00 N
600121984 MAHER,WILLIAM $635,000.00 N
600121987 MCGARVEY,JAMES $311,685.00 N
600121989 BALTER,SIDNEY $300,000.00 N
600121990 HUANG,LIANGLII $337,589.00 N
600121992 WAY,KENNETH $525,000.00 N
600121995 STONE,IRA $645,000.00 N
600122017 VAUGHN,BRADLEY $330,000.00 N
600122018 HUI,JAMES $525,000.00 N
600122033 GOEDKEN,DAVID $320,000.00 N
600122042 PERCOCO,JAMES $328,000.00 N
600122043 PHELPS,RICHARD $362,500.00 N
600122044 SAVITZKY,YOAV $780,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 98
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600122046 SCHEUER,EVAN 56 WEST 71ST STREET NEW YORK NY 10023 $249,840.58
600122054 KLUGER,BARRY 425 E 79TH ST UNIT 5 NEW YORK NY 10021 $265,442.80
600122058 CHASKY,DEAN 240 W 23RD ST NEW YORK NY 10011 $295,811.25
600122066 RIELAND,SUSAN 12 PALOMINO CT #S-2 EAST HAMPTON NY 11937 $250,839.94
600122069 RONON,BARBARA 137 E 36TH ST 25F NEW YORK NY 10016 $302,748.55
600122070 KRAUS,VIRGINIA 372 CENTRAL PARK W # NEW YORK NY 10025 $321,772.54
600122074 KUHN,ARTHUR 850 S COLLIER BLVD U MARCO ISLAND FL 34145 $254,810.75
600122076 PERRINE,NICHOLAS 21 MARLPIT PLACE MIDDLETOWN NJ 07748 $251,152.02
600122077 MERCADANTE,JAMES 18 SHALLOW STREAM R CARMEL NY 10512 $304,790.09
600122078 HASSOUN,EITHAN 694 TURF RD NORTH WOODMERE NY 11581 $314,788.64
600122079 TROTMAN,ALFONSO 6109 FLEMISH BLUE CT SYKESVILLE MD 21784 $233,826.33
600122083 KITZMANN,GLEN 4478 EL CORAZON COURT CAMARILLO CA 93012 $244,813.58
600122085 CHASE,THEODORE 5231 NELCO CIRCLE WEST LINN OR 97068 $265,922.87
600122087 WADE,STEVEN 753 JACKSON RIVER FOREST IL 60305 $387,226.50
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600122046 SCHEUER,EVAN 8.250 .250 8.000 .0400 7.960 12/01/2027
600122054 KLUGER,BARRY 8.250 .250 8.000 .0400 7.960 09/01/2027
600122058 CHASKY,DEAN 8.250 .250 8.000 .0400 7.960 12/01/2027
600122066 RIELAND,SUSAN 8.250 .250 8.000 .0400 7.960 12/01/2027
600122069 RONON,BARBARA 7.500 .250 7.250 .0400 7.210 11/01/2027
600122070 KRAUS,VIRGINIA 7.750 .250 7.500 .0400 7.460 12/01/2027
600122074 KUHN,ARTHUR 7.500 .250 7.250 .0400 7.210 12/01/2027
600122076 PERRINE,NICHOLAS 7.875 .250 7.625 .0400 7.585 11/01/2027
600122077 MERCADANTE,JAMES 7.875 .250 7.625 .0400 7.585 12/01/2027
600122078 HASSOUN,EITHAN 8.000 .250 7.750 .0400 7.710 12/01/2027
600122079 TROTMAN,ALFONSO 7.500 .250 7.250 .0400 7.210 12/01/2027
600122083 KITZMANN,GLEN 7.375 .250 7.125 .0400 7.085 12/01/2027
600122085 CHASE,THEODORE 7.750 .250 7.500 .0400 7.460 11/01/2027
600122087 WADE,STEVEN 7.750 .250 7.500 .0400 7.460 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>
600122046 SCHEUER,EVAN 1106074820 $1,878.17 01/01/1998 360
600122054 KLUGER,BARRY 1111115723 $2,028.42 01/01/1998 360
600122058 CHASKY,DEAN 1111132992 $2,223.75 01/01/1998 360
600122066 RIELAND,SUSAN 1111139845 $1,885.68 01/01/1998 360
600122069 RONON,BARBARA 1500277221 $2,120.02 01/01/1998 360
600122070 KRAUS,VIRGINIA 1111135899 $2,306.85 01/01/1998 360
600122074 KUHN,ARTHUR 1589139840 $1,783.00 01/01/1998 360
600122076 PERRINE,NICHOLAS 1500393357 $1,827.17 1 01/01/1998 360
600122077 MERCADANTE,JAMES 1500395884 $2,211.47 1 01/01/1998 360
600122078 HASSOUN,EITHAN 1500402651 $2,311.36 1 01/01/1998 360
600122079 TROTMAN,ALFONSO 1500403280 $1,636.17 1 01/01/1998 360
600122083 KITZMANN,GLEN 1553007190 $1,692.15 1 01/01/1998 360
600122085 CHASE,THEODORE 1565176503 $1,907.81 1 01/01/1998 360
600122087 WADE,STEVEN 1583073182 $2,776.10 1 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600122046 SCHEUER,EVAN $380,000.00 N
600122054 KLUGER,BARRY $425,000.00 N
600122058 CHASKY,DEAN $450,000.00 N
600122066 RIELAND,SUSAN $335,000.00 N
600122069 RONON,BARBARA $380,000.00 N
600122070 KRAUS,VIRGINIA $437,000.00 N
600122074 KUHN,ARTHUR $600,000.00 N
600122076 PERRINE,NICHOLAS $280,000.00 N
600122077 MERCADANTE,JAMES $367,000.00 N
600122078 HASSOUN,EITHAN $350,000.00 N
600122079 TROTMAN,ALFONSO $260,000.00 N
600122083 KITZMANN,GLEN $283,500.00 N
600122085 CHASE,THEODORE $325,000.00 N
600122087 WADE,STEVEN $460,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 99
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600122088 JOHNSON,DAVID 2860 ABBINGTON NEW LENOX IL 60451 $237,432.30
600122089 BROWN,G 11683 PINTAIL COURT NAPLES FL 34119 $233,846.92
600122091 FREELAND,RONALD 14 FORESTON VALLEY PARKTON MD 21120 $288,285.46
600122093 YATES,MELVIN 15930 STONEMONT ROAD HUNTERSVILLE NC 28078 $250,735.35
600122095 HERBERT,CHARLES 302 FAIRMONT AVENUE CHATHAM NJ 07928 $303,363.16
600122096 HALL,BRIAN 7093 BOUGHTON HILL RD VICTOR NY 14564 $312,978.94
600122098 FELDSHEROV,JOSIF 2269 EAST 38TH STREET BROOKLYN NY 11234 $270,385.45
600122102 ROSEN,JEFFREY 21 CARDINAL LN WESTWOOD NJ 07675 $346,895.52
600122105 KANG,JONG 1319 S MISTY COURT DIAMOND BAR CA 91765 $233,684.93
600122107 STALEY,CARL 1345 E SORENSEN ST MESA AZ 85203 $233,838.96
600122117 LUCEY,SCOTT 616 SANTANDER DRIVE SAN RAMON CA 94583 $279,807.30
600122118 COLLIER,STEPHEN 7977 145TH AVE SE NEWCASTLE WA 98059 $284,349.02
600122120 JEFFERSON,MARK 6527 BURGUNDY LANE CLARKSVILLE MD 21029 $311,768.45
600122122 LAURA,RICHARD 16435 86TH ST HOWARD BEACH NY 11414 $254,824.51
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600122088 JOHNSON,DAVID 7.750 .250 7.500 .0400 7.460 12/01/2027
600122089 BROWN,G 8.125 .250 7.875 .0400 7.835 12/01/2027
600122091 FREELAND,RONALD 7.500 .250 7.250 .0400 7.210 12/01/2027
600122093 YATES,MELVIN 7.625 .250 7.375 .0400 7.335 11/01/2027
600122095 HERBERT,CHARLES 7.250 .250 7.000 .0400 6.960 12/01/2027
600122096 HALL,BRIAN 7.750 .250 7.500 .0400 7.460 12/01/2027
600122098 FELDSHEROV,JOSIF 8.000 .250 7.750 .0400 7.710 11/01/2027
600122102 ROSEN,JEFFREY 7.625 .250 7.375 .0400 7.335 11/01/2027
600122105 KANG,JONG 8.000 .250 7.750 .0400 7.710 11/01/2027
600122107 STALEY,CARL 7.875 .250 7.625 .0400 7.585 12/01/2027
600122117 LUCEY,SCOTT 7.875 .250 7.625 .0400 7.585 12/01/2027
600122118 COLLIER,STEPHEN 7.750 .250 7.500 .0400 7.460 12/01/2027
600122120 JEFFERSON,MARK 7.500 .250 7.250 .0400 7.210 12/01/2027
600122122 LAURA,RICHARD 7.875 .250 7.625 .0400 7.585 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>
600122088 JOHNSON,DAVID 1583077343 $1,702.20 1 01/01/1998 360
600122089 BROWN,G 1589140850 $1,737.45 1 01/01/1998 360
600122091 FREELAND,RONALD 1741169314 $2,017.23 1 01/01/1998 360
600122093 YATES,MELVIN 1507337332 $1,777.28 1 01/01/1998 360
600122095 HERBERT,CHARLES 1106091987 $2,071.09 2 01/01/1998 360
600122096 HALL,BRIAN 1111135710 $2,243.81 2 01/01/1998 360
600122098 FELDSHEROV,JOSIF 1500379039 $1,986.67 2 01/01/1998 360
600122102 ROSEN,JEFFREY 1500402425 $2,458.88 2 01/01/1998 360
600122105 KANG,JONG 1506365616 $1,717.01 2 01/01/1998 360
600122107 STALEY,CARL 1512194970 $1,696.66 2 01/01/1998 360
600122117 LUCEY,SCOTT 1561377955 $2,030.20 2 01/01/1998 360
600122118 COLLIER,STEPHEN 1565177460 $2,039.99 2 01/01/1998 360
600122120 JEFFERSON,MARK 1587092633 $2,181.55 2 01/01/1998 360
600122122 LAURA,RICHARD 1111137919 $1,848.93 3 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600122088 JOHNSON,DAVID $264,000.00 N
600122089 BROWN,G $260,000.00 N
600122091 FREELAND,RONALD $335,000.00 N
600122093 YATES,MELVIN $279,000.00 N
600122095 HERBERT,CHARLES $339,000.00 N
600122096 HALL,BRIAN $348,000.00 N
600122098 FELDSHEROV,JOSIF $285,000.00 N
600122102 ROSEN,JEFFREY $386,000.00 N
600122105 KANG,JONG $260,000.00 N
600122107 STALEY,CARL $260,000.00 N
600122117 LUCEY,SCOTT $320,000.00 N
600122118 COLLIER,STEPHEN $335,000.00 N
600122120 JEFFERSON,MARK $346,713.00 N
600122122 LAURA,RICHARD $285,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 100
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600122123 BRAYER,JENNIFER 77 GATES AVENUE BROOKLYN NY 11238 $245,067.98
600122124 MARSHALL,PHILLIP 3752 PESCADERO DRIVE SANTA BARBARA CA 93103 $316,581.98
600122125 PATEL,JYOTINDRA 23 ARCADIAN DRIVE SPRING VALLEY NY 10977 $284,788.49
600122126 CHANG,JULIE 3434 GARDEN AVE MIAMI BEACH FL 33140 $244,939.11
600122128 LANE,DOUGLAS 130 SOUTH 363TH PLAC FEDERAL WAY WA 98003 $263,063.54
600122129 MURRAY,WILLIAM 6338 OAKLEAF ROAD DALLAS TX 75248 $323,747.25
600122131 RICHARDSON,ALLYN 356 EASTGROVE RIVERSIDE IL 60546 $276,044.97
600122132 DAVID,RODERICK 36 COPPER PENNY ROA RARITAN TWP NJ 08822 $310,263.73
600122133 JORDAN,JAMES 1004 AUTUMN GOLD DR GAMBRILLS MD 21054 $246,659.05
600122136 DURKEE,ROBERT 590 FW HARTFORD DRIV PORTSMOUTH NH 03801 $235,625.00
600122139 MENZ,MARTIN 1136 MOUNT WHITNEY ST LIVERMORE CA 94550 $274,099.74
600122140 SMOLER,ROBERT 1724 N WINNEBAGO AVE CHICAGO IL 60647 $242,328.85
600122141 CHANDLER,WENDELL 92 WALDEN LANE FREDERICKSBURG VA 22406 $383,700.44
600122144 ZIEGLER,DANIEL 11617 NORTHVIEW DR FORT WORTH TX 76008 $359,011.23
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600122123 BRAYER,JENNIFER 7.500 .250 7.250 .0400 7.210 12/01/2027
600122124 MARSHALL,PHILLIP 7.875 .250 7.625 .0400 7.585 12/01/2027
600122125 PATEL,JYOTINDRA 7.500 .250 7.250 .0400 7.210 12/01/2027
600122126 CHANG,JULIE 7.750 .250 7.500 .0400 7.460 12/01/2027
600122128 LANE,DOUGLAS 7.375 .250 7.125 .0400 7.085 12/01/2027
600122129 MURRAY,WILLIAM 7.250 .250 7.000 .0400 6.960 12/01/2027
600122131 RICHARDSON,ALLYN 7.500 .250 7.250 .0400 7.210 12/01/2027
600122132 DAVID,RODERICK 7.375 .250 7.125 .0400 7.085 12/01/2027
600122133 JORDAN,JAMES 7.500 .250 7.250 .0400 7.210 12/01/2027
600122136 DURKEE,ROBERT 7.500 .250 7.250 .0400 7.210 12/01/2027
600122139 MENZ,MARTIN 7.625 .250 7.375 .0400 7.335 12/01/2027
600122140 SMOLER,ROBERT 7.750 .250 7.500 .0400 7.460 12/01/2027
600122141 CHANDLER,WENDELL 7.250 .250 7.000 .0400 6.960 12/01/2027
600122144 ZIEGLER,DANIEL 7.500 .250 7.250 .0400 7.210 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>
600122123 BRAYER,JENNIFER 1111141202 $1,714.83 3 01/01/1998 360
600122124 MARSHALL,PHILLIP 1113068941 $2,297.02 3 01/01/1998 360
600122125 PATEL,JYOTINDRA 1115004746 $1,992.76 3 01/01/1998 360
600122126 CHANG,JULIE 1311300922 $1,756.64 3 01/01/1998 360
600122128 LANE,DOUGLAS 1472014419 $1,819.93 3 01/01/1998 360
600122129 MURRAY,WILLIAM 1524016051 $2,210.25 3 01/01/1998 360
600122131 RICHARDSON,ALLYN 1583070617 $1,931.59 3 01/01/1998 360
600122132 DAVID,RODERICK 1587088807 $2,144.55 3 01/01/1998 360
600122133 JORDAN,JAMES 1701134904 $1,727.06 3 01/01/1998 360
600122136 DURKEE,ROBERT 1815029648 $1,648.75 3 01/01/1998 360
600122139 MENZ,MARTIN 1495005643 $1,944.31 3 01/01/1998 360
600122140 SMOLER,ROBERT 1617017089 $1,737.30 3 01/01/1998 360
600122141 CHANDLER,WENDELL 1761118178 $2,619.56 3 01/01/1998 360
600122144 ZIEGLER,DANIEL 1504125757 $2,514.03 12 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600122123 BRAYER,JENNIFER $272,500.00 N
600122124 MARSHALL,PHILLIP $352,000.00 N
600122125 PATEL,JYOTINDRA $307,000.00 N
600122126 CHANG,JULIE $272,500.00 N
600122128 LANE,DOUGLAS $310,000.00 N
600122129 MURRAY,WILLIAM $360,000.00 N
600122131 RICHARDSON,ALLYN $325,000.00 N
600122132 DAVID,RODERICK $345,000.00 N
600122133 JORDAN,JAMES $295,000.00 N
600122136 DURKEE,ROBERT $262,000.00 N
600122139 MENZ,MARTIN $289,202.00 N
600122140 SMOLER,ROBERT $255,300.00 N
600122141 CHANDLER,WENDELL $440,000.00 N
600122144 ZIEGLER,DANIEL $399,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 101
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600122146 LOWE,ROBERT 406 HOTCHKISS DRIV LEMOORE CA 93245 $237,654.41
600122147 STELLERN,JEFFREY 415 OXFORD DR ARCADIA CA 91007 $323,409.44
600122148 BROWN,DAVID 1516 MUIRFIELD RD RIVERSIDE CA 92506 $304,884.67
600122149 CAMERON,HARRIET 4221 NOBLE AVE LOS ANGELES CA 91403 $298,027.34
600122150 JOHNSON,REED 1646 ELEVADO STREET LOS ANGELAS CA 90026 $299,455.91
600122153 CURTIN,TIMOTHY 1745 TROY LANE NORTH PLYMOUTH MN 55447 $297,380.70
600122154 MILLER,ALAN 2060 HIGHWAY 354 PINE MOUNTAIN V GA 31823 $296,367.08
600122156 LY,PAPIA 3424 GREENTREE DR FALLS CHURCH VA 22041 $368,551.34
600122157 BUNN,ROBERT 2470 ABBOTT MARTIN RD NASHVILLE TN 37215 $245,334.18
600122158 GOODNIGHT,GARY 1427 TANGLEWOOD RD ABILENE TX 79605 $314,542.57
600122159 FORTNEY,JOHN 23296 NAMELESS RD LEANDER TX 78641 $341,477.92
600122160 LINDLEY,JERRY 39 MUIRFIELD ABILENE TX 79606 $239,821.88
600122161 AKMAN,SYDNEY 12533 177TH AVENUE NOR REDMOND WA 98052 $366,367.20
600122163 REEVES,TODD 1727 CRESCENT LAKE DR GIG HARBOR WA 98332 $233,126.86
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600122146 LOWE,ROBERT 7.625 .250 7.375 .0400 7.335 11/01/2027
600122147 STELLERN,JEFFREY 7.625 .250 7.375 .0400 7.335 11/01/2027
600122148 BROWN,DAVID 7.750 .250 7.500 .0400 7.460 12/01/2027
600122149 CAMERON,HARRIET 7.750 .250 7.500 .0400 7.460 11/01/2027
600122150 JOHNSON,REED 7.625 .250 7.375 .0400 7.335 12/01/2027
600122153 CURTIN,TIMOTHY 7.875 .250 7.625 .0400 7.585 10/01/2027
600122154 MILLER,ALAN 7.750 .250 7.500 .0400 7.460 10/01/2027
600122156 LY,PAPIA 8.500 .250 8.250 .0400 8.210 11/01/2027
600122157 BUNN,ROBERT 7.500 .250 7.250 .0400 7.210 11/01/2027
600122158 GOODNIGHT,GARY 7.625 .250 7.375 .0400 7.335 11/01/2027
600122159 FORTNEY,JOHN 7.375 .250 7.125 .0400 7.085 11/01/2027
600122160 LINDLEY,JERRY 7.500 .250 7.250 .0400 7.210 12/01/2027
600122161 AKMAN,SYDNEY 7.625 .250 7.375 .0400 7.335 11/01/2027
600122163 REEVES,TODD 7.500 .250 7.250 .0400 7.210 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>
600122146 LOWE,ROBERT 1506331578 $1,684.54 12 01/01/1998 360
600122147 STELLERN,JEFFREY 1506336323 $2,293.25 12 01/01/1998 360
600122148 BROWN,DAVID 1506359001 $2,185.77 12 01/01/1998 360
600122149 CAMERON,HARRIET 1506363494 $2,138.14 12 01/01/1998 360
600122150 JOHNSON,REED 1506365842 $2,123.39 12 01/01/1998 360
600122153 CURTIN,TIMOTHY 1507301914 $2,160.71 12 01/01/1998 360
600122154 MILLER,ALAN 1507323350 $2,127.74 12 01/01/1998 360
600122156 LY,PAPIA 1507339236 $2,837.29 12 01/01/1998 360
600122157 BUNN,ROBERT 1511204729 $1,717.97 12 01/01/1998 360
600122158 GOODNIGHT,GARY 1512177960 $2,229.55 12 01/01/1998 360
600122159 FORTNEY,JOHN 1512182789 $2,362.11 12 01/01/1998 360
600122160 LINDLEY,JERRY 1512195430 $1,678.12 12 01/01/1998 360
600122161 AKMAN,SYDNEY 1513197715 $2,596.90 12 01/01/1998 360
600122163 REEVES,TODD 1565177492 $1,631.27 12 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600122146 LOWE,ROBERT $280,000.00 N
600122147 STELLERN,JEFFREY $360,000.00 N
600122148 BROWN,DAVID $339,900.00 N
600122149 CAMERON,HARRIET $332,000.00 N
600122150 JOHNSON,REED $335,000.00 N
600122153 CURTIN,TIMOTHY $320,000.00 N
600122154 MILLER,ALAN $330,000.00 N
600122156 LY,PAPIA $410,000.00 N
600122157 BUNN,ROBERT $275,000.00 N
600122158 GOODNIGHT,GARY $350,000.00 N
600122159 FORTNEY,JOHN $380,000.00 N
600122160 LINDLEY,JERRY $285,000.00 N
600122161 AKMAN,SYDNEY $407,700.00 N
600122163 REEVES,TODD $245,625.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 102
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600122165 DANNAHOWER,WILLIAM 6274 N BELMONT WAY PARKER CO 80134 $385,147.89
600122166 BOBBITT,JAMES 17 JASON DRIVE LINCOLN RI 02865 $269,814.18
600122168 MCBRIDE,WAYNE 934 EAST 100 NORTH LINDON UT 84042 $264,808.19
600122170 DRAKE,KENNETH 6 FIELDSTONE PLACE RARITAN TWP. NJ 08869 $260,041.61
600122171 SEBA,FREDDY 11743 KIOWA AVE LOS ANGELES CA 90049 $280,020.21
600122176 CROWELL,ARTHUR LOT124 COMMODORE POINT DESTIN FL 32541 $243,995.18
600122178 MCLAUGHLIN,BRIAN 1111 MARINA COVE LN GREENSBORO GA 30642 $269,607.93
600122181 HILL,HENDERSON 8119 ANZACK LANE CHARLOTTE NC 28269 $283,754.58
600122184 ANDERSON,STANLEY 2000 EAGLE CREST COUR BIRMINGHAM AL 35242 $275,789.98
600122185 SHPUNTOV,VLADIMIR 2309 ROYCE ST BROOKLYN NY 11234 $321,064.51
600122186 MCKENNA,JOHN 426 PINEHURST AVE PLACENTIA CA 92870 $239,069.40
600122188 BILLS,DONALD 7420 S HOUSTOUN WARI LITTLETON CO 80120 $233,747.06
600122189 KYLES,KEVIN 25510 BRIDLE PATH LANE FARMINGTON HILL MI 48335 $265,830.38
600122190 WINKLER,GARY 13182 SUSSEX PLACE SANTA ANA AREA CA 92705 $310,112.65
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600122165 DANNAHOWER,WILLIAM 8.125 .250 7.875 .0400 7.835 12/01/2027
600122166 BOBBITT,JAMES 7.875 .250 7.625 .0400 7.585 12/01/2027
600122168 MCBRIDE,WAYNE 7.625 .250 7.375 .0400 7.335 12/01/2027
600122170 DRAKE,KENNETH 7.625 .250 7.375 .0400 7.335 11/01/2027
600122171 SEBA,FREDDY 7.625 .250 7.375 .0400 7.335 12/01/2027
600122176 CROWELL,ARTHUR 7.625 .250 7.375 .0400 7.335 11/01/2027
600122178 MCLAUGHLIN,BRIAN 7.625 .250 7.375 .0400 7.335 11/01/2027
600122181 HILL,HENDERSON 7.875 .250 7.625 .0400 7.585 12/01/2027
600122184 ANDERSON,STANLEY 7.375 .250 7.125 .0400 7.085 12/01/2027
600122185 SHPUNTOV,VLADIMIR 8.125 .250 7.875 .0400 7.835 11/01/2027
600122186 MCKENNA,JOHN 7.875 .250 7.625 .0400 7.585 11/01/2027
600122188 BILLS,DONALD 7.750 .250 7.500 .0400 7.460 11/01/2027
600122189 KYLES,KEVIN 8.250 .250 8.000 .0400 7.960 12/01/2027
600122190 WINKLER,GARY 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>
600122165 DANNAHOWER,WILLIAM 1579064723 $2,861.59 12 01/01/1998 360
600122166 BOBBITT,JAMES 1580063820 $1,957.69 12 01/01/1998 360
600122168 MCBRIDE,WAYNE 1583077285 $1,875.66 12 01/01/1998 360
600122170 DRAKE,KENNETH 1587089468 $1,849.12 12 01/01/1998 360
600122171 SEBA,FREDDY 1231009243 $1,983.59 12 01/01/1998 360
600122176 CROWELL,ARTHUR 1511108463 $1,729.49 12 01/01/1998 360
600122178 MCLAUGHLIN,BRIAN 1511206735 $1,911.04 12 01/01/1998 360
600122181 HILL,HENDERSON 1566114261 $2,058.84 12 01/01/1998 360
600122184 ANDERSON,STANLEY 1587093498 $1,906.27 12 01/01/1998 360
600122185 SHPUNTOV,VLADIMIR 1500392795 $2,405.70 14 01/01/1998 360
600122186 MCKENNA,JOHN 1506347716 $1,735.82 14 01/01/1998 360
600122188 BILLS,DONALD 1513208141 $1,677.84 14 01/01/1998 360
600122189 KYLES,KEVIN 1581142841 $1,998.37 14 01/01/1998 360
600122190 WINKLER,GARY 1595055927 $2,360.03 14 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600122165 DANNAHOWER,WILLIAM $438,000.00 N
600122166 BOBBITT,JAMES $300,000.00 N
600122168 MCBRIDE,WAYNE $295,000.00 N
600122170 DRAKE,KENNETH $275,000.00 N
600122171 SEBA,FREDDY $295,000.00 N
600122176 CROWELL,ARTHUR $283,000.00 N
600122178 MCLAUGHLIN,BRIAN $300,000.00 N
600122181 HILL,HENDERSON $298,915.00 N
600122184 ANDERSON,STANLEY $299,900.00 N
600122185 SHPUNTOV,VLADIMIR $360,000.00 N
600122186 MCKENNA,JOHN $252,000.00 N
600122188 BILLS,DONALD $246,561.00 N
600122189 KYLES,KEVIN $280,000.00 N
600122190 WINKLER,GARY $345,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 103
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600122191 GROSSENBACHER,GARY 12619 WOODBINE STREET LOS ANGELES CA 90066 $306,309.48
600122192 MILLETT,SEAN 1408 SAPPHIRE DRAGON THOUSAND OAKS CA 91320 $237,827.74
600122193 WHITTLE,MICHAEL 19841 OWL CREEK WAY LOS ANGELES CA 91326 $245,574.55
600122195 STROME,MICHAEL 27725 MOTHERLODE COURT LAGUNA NIGUEL CA 92677 $294,011.58
600122196 CHRISTIE,THOMAS 9 EL CORZO RANCHO SANTA MA CA 92688 $263,164.12
600122197 GUILLAUME,NANCY 210 BAGATELLE RD MELVILLE NY 11747 $242,856.53
600122198 KIMBALL,GLENN 1821 OAK KNOLL DR BELMONT CA 94402 $358,433.47
600122199 HAMPTON,PHILIP 1439 JUNIPER STREET N WASHINGTON DC 20012 $254,620.32
600122200 CORRALES,MAX 11228 CONSTELLATION DR EL CAJON CA 92020 $234,825.59
600122201 ALVAREZ,ROBERT 640 VALLEY VIEW ROAD LOVELAND CO 80537 $272,902.33
600122202 HARTUNG,ROBERT 2459 MALLARD DRIVE WALNUT CREEK CA 94596 $256,227.59
600122205 NEMETZ,HOWARD 6171 BARROWS DRIVE LOS ANGELES CA 90048 $346,255.44
600122206 WHITAKER,GARY 25 FLORENCE LANE PALM DESSERT CA 92211 $317,879.19
600122209 KIM,THOMAS 376 BUTTERNUT AVE WYCKOFF NJ 07481 $273,611.97
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600122191 GROSSENBACHER,GARY 8.375 .250 8.125 .0400 8.085 12/01/2027
600122192 MILLETT,SEAN 7.625 .250 7.375 .0400 7.335 12/01/2027
600122193 WHITTLE,MICHAEL 7.375 .250 7.125 .0400 7.085 11/01/2027
600122195 STROME,MICHAEL 7.500 .250 7.250 .0400 7.210 11/01/2027
600122196 CHRISTIE,THOMAS 7.750 .250 7.500 .0400 7.460 12/01/2027
600122197 GUILLAUME,NANCY 8.625 .250 8.375 .0400 8.335 12/01/2027
600122198 KIMBALL,GLENN 7.875 .250 7.625 .0400 7.585 11/01/2027
600122199 HAMPTON,PHILIP 7.500 .250 7.250 .0400 7.210 11/01/2027
600122200 CORRALES,MAX 7.500 .250 7.250 .0400 7.210 12/01/2027
600122201 ALVAREZ,ROBERT 7.625 .250 7.375 .0400 7.335 12/01/2027
600122202 HARTUNG,ROBERT 7.875 .250 7.625 .0400 7.585 12/01/2027
600122205 NEMETZ,HOWARD 7.750 .250 7.500 .0400 7.460 12/01/2027
600122206 WHITAKER,GARY 7.750 .250 7.500 .0400 7.460 11/01/2027
600122209 KIM,THOMAS 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>
600122191 GROSSENBACHER,GARY 1595064484 $2,329.63 14 01/01/1998 360
600122192 MILLETT,SEAN 1506343930 $1,684.55 14 01/01/1998 360
600122193 WHITTLE,MICHAEL 1506355565 $1,698.72 14 01/01/1998 360
600122195 STROME,MICHAEL 1595055712 $2,058.84 14 01/01/1998 360
600122196 CHRISTIE,THOMAS 1595067085 $1,886.68 14 01/01/1998 360
600122197 GUILLAUME,NANCY 1111132369 $1,890.03 19 01/01/1998 360
600122198 KIMBALL,GLENN 1506352228 $2,603.73 19 01/01/1998 360
600122199 HAMPTON,PHILIP 1507326325 $1,783.00 19 01/01/1998 360
600122200 CORRALES,MAX 1567210103 $1,643.16 19 01/01/1998 360
600122201 ALVAREZ,ROBERT 1590061274 $1,932.99 19 01/01/1998 360
600122202 HARTUNG,ROBERT 1596051309 $1,859.45 19 01/01/1998 360
600122205 NEMETZ,HOWARD 1596052152 $2,482.37 19 01/01/1998 360
600122206 WHITAKER,GARY 1506367327 $2,280.56 19 01/01/1998 360
600122209 KIM,THOMAS 1500406095 $1,962.97 15 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600122191 GROSSENBACHER,GARY $350,000.00 N
600122192 MILLETT,SEAN $264,500.00 N
600122193 WHITTLE,MICHAEL $273,300.00 N
600122195 STROME,MICHAEL $328,000.00 N
600122196 CHRISTIE,THOMAS $292,631.00 N
600122197 GUILLAUME,NANCY $270,000.00 N
600122198 KIMBALL,GLENN $399,000.00 N
600122199 HAMPTON,PHILIP $300,000.00 N
600122200 CORRALES,MAX $270,000.00 N
600122201 ALVAREZ,ROBERT $287,500.00 N
600122202 HARTUNG,ROBERT $269,950.00 N
600122205 NEMETZ,HOWARD $385,000.00 N
600122206 WHITAKER,GARY $353,700.00 N
600122209 KIM,THOMAS $293,400.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 104
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600122211 MCGAHEY,KEVIN 1033 GLENDEV0N DR HORSHAM TWP PA 19002 $257,325.77
600122212 GUNNALA,UMA 1931 E VISTA DRIVE PHEONIX AZ 85022 $295,141.88
600126809 FREEDLUND JR,ROGERS P 30 STIRRUP CUP COURT ST CHARLES IL 60174 $222,316.83
600126811 WHITING,MARK B 2535 FOREST COURT LINDENHURST IL 60046 $282,267.38
600126813 BETZ JR,D WILLIAM 10308 ROYAL ASCOT COUR ELLICOTT CITY MD 21042 $313,675.79
600126814 WRIGHT JR,LONNIE R 9041 SW 102 STREET MIAMI FL 33176 $370,466.11
600126815 COGEN,MARK Z 1457 NW 126TH DRIVE CORAL SPRINGS FL 33071 $380,546.24
610000035 CHUN/SYREETA CHAN/WON 31364 SEAPORT DRIVE UNION CITY CA 94587 $268,579.05
610000036 MARC,LORI COUVILLI 294 SAN FELIPE WAY NOVATO CA 94945 $257,596.26
610000037 WALTER,STACIE WHITMAN 384 TENNESSEE AVENUE MILL VALLEY CA 94941 $358,438.21
610000038 MICHAEL,CAROLIN MILLER 105 MC KISSICK STREET PLEASANT HILL CA 94523 $245,225.09
610000039 CONRAD TRINKS 30 CARLYLE COURT DANVILLE CA 94506 $322,979.37
610000041 RICHARD,GRACIEL FLORES 14097 PROCTOR VALLEY ROAD AREA OF JAMUL CA 91935 $284,367.27
610000042 MARY LONGFIEL 320 DAVILA COURT SONOMA CA 95476 $249,627.76
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600122211 MCGAHEY,KEVIN 7.625 .250 7.375 .0400 7.335 11/01/2027
600122212 GUNNALA,UMA 7.875 .250 7.625 .0400 7.585 11/01/2027
600126809 FREEDLUND JR,ROGERS P 9.000 .250 8.750 .0500 8.700 01/01/2017
600126811 WHITING,MARK B 8.500 .250 8.250 .0500 8.200 06/01/2024
600126813 BETZ JR,D WILLIAM 7.250 .250 7.000 .0500 6.950 03/01/2023
600126814 WRIGHT JR,LONNIE R 8.750 .250 8.500 .0500 8.450 11/01/2024
600126815 COGEN,MARK Z 7.400 .250 7.150 .0500 7.100 09/01/2023
610000035 CHUN/SYREETA CHAN/WON 7.250 .250 7.000 .0500 6.950 11/01/2027
610000036 MARC,LORI COUVILLI 7.250 .250 7.000 .0500 6.950 11/01/2027
610000037 WALTER,STACIE WHITMAN 7.250 .250 7.000 .0500 6.950 11/01/2027
610000038 MICHAEL,CAROLIN MILLER 7.375 .250 7.125 .0500 7.075 11/01/2027
610000039 CONRAD TRINKS 7.375 .250 7.125 .0500 7.075 11/01/2027
610000041 RICHARD,GRACIEL FLORES 7.500 .250 7.250 .0500 7.200 11/01/2027
610000042 MARY LONGFIEL 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>
600122211 MCGAHEY,KEVIN 1500396300 $1,823.98 15 01/01/1998 360
600122212 GUNNALA,UMA 1512173132 $2,142.94 15 01/01/1998 360
600126809 FREEDLUND JR,ROGERS P 12610 $2,038.44 01/01/1998 342
600126811 WHITING,MARK B 40940 $2,239.08 01/01/1998 360
600126813 BETZ JR,D WILLIAM 36760 $2,261.98 01/01/1998 360
600126814 WRIGHT JR,LONNIE R 44870 $2,989.48 01/01/1998 360
600126815 COGEN,MARK Z 37600 $2,762.60 01/01/1998 360
610000035 CHUN/SYREETA CHAN/WON 0092469615 $1,835.05 01/01/1998 360
610000036 MARC,LORI COUVILLI 0092469617 $1,760.01 01/01/1998 360
610000037 WALTER,STACIE WHITMAN 0092469620 $2,449.01 01/01/1998 360
610000038 MICHAEL,CAROLIN MILLER 0092469622 $1,696.30 01/01/1998 360
610000039 CONRAD TRINKS 0092469624 $2,237.79 01/01/1998 360
610000041 RICHARD,GRACIEL FLORES 0092469629 $1,991.36 01/01/1998 360
610000042 MARY LONGFIEL 0092469630 $1,748.04 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600122211 MCGAHEY,KEVIN $271,275.00 N
600122212 GUNNALA,UMA $328,500.00 N
600126809 FREEDLUND JR,ROGERS P $319,684.00 N
600126811 WHITING,MARK B $364,000.00 N
600126813 BETZ JR,D WILLIAM $417,125.00 N
600126814 WRIGHT JR,LONNIE R $475,000.00 N
600126815 COGEN,MARK Z $499,618.00 N
610000035 CHUN/SYREETA CHAN/WON .00 .00 .00 .000 .250 .300 $336,264.00 N
610000036 MARC,LORI COUVILLI .00 .00 .00 .000 .250 .300 $330,000.00 N
610000037 WALTER,STACIE WHITMAN .00 .00 .00 .000 .250 .300 $465,000.00 N
610000038 MICHAEL,CAROLIN MILLER .00 .00 .00 .000 .250 .300 $307,000.00 N
610000039 CONRAD TRINKS .00 .00 .00 .000 .250 .300 $410,000.00 N
610000041 RICHARD,GRACIEL FLORES .00 .00 .00 .000 .250 .300 $356,000.00 N
610000042 MARY LONGFIEL .00 .00 .00 .000 .250 .300 $415,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 105
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
610000044 JAMES, LOIS MINTZ 1428 HACIENDA DRIVE LA CANADA-FLINT CA 91011 $575,941.18
610000045 BRUCE, PEGGY BEAR 11971 SILVERCREST STREET MOORPARK CA 93021 $308,340.23
610000047 FLOYD/GLEN FURLONG/ 1235 WALNUT DRIVE CAMPBELL CA 95008 $299,552.44
610000048 ROB,KAREN CLARK 1060 VIA ROBLE LAFAYETTE CA 94549 $341,272.73
610000049 NINA NISENHOL 610 HARBOR STREET LOS ANGELES CA 90291 $347,481.85
610000050 JOHN,PATRICIA KENNY 1721 LANTIS LANE LOS ALTOS CA 94024 $269,597.99
610000052 SCOTT,SUSAN STEWART 4617 EAST TALMADGE DRIVE SAN DIEGO CA 92116 $310,536.94
610000053 MENDELL,FANYA WEINSTEI 1678 26TH AVENUE SAN FRANCISCO CA 94122 $280,591.95
610000055 JOHN,JOYCE IGOE 811 BOND PLACE SANTA CLARA CA 95051 $273,202.70
610000056 GREGORY ERIGERO 10 VILLA VISTA COURT NOVATO CA 94947 $309,150.42
610000061 DOUGLAS,CAROL BLOCK 6697 TANNAHILL DRIVE SAN JOSE CA 95120 $284,586.15
610000062 STEPHEN,TINA JEANMINE 146 ESTATES DRIVE DANVILLE CA 94526 $324,527.95
610000064 JOSEPH,LOUISE MCCULLOC 3733 SOUTHWEST CHEHALEM A PORTLAND OR 97201 $339,518.51
610000065 NEAL,JAN KATZ/ZEI 12458 FIORI LANE SEBASTOPOL CA 95472 $452,358.49
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
610000044 JAMES, LOIS MINTZ 7.500 .250 7.250 .0500 7.200 11/01/2027
610000045 BRUCE, PEGGY BEAR 7.500 .250 7.250 .0500 7.200 11/01/2027
610000047 FLOYD/GLEN FURLONG/ 7.500 .250 7.250 .0500 7.200 11/01/2027
610000048 ROB,KAREN CLARK 7.500 .250 7.250 .0500 7.200 11/01/2027
610000049 NINA NISENHOL 7.500 .250 7.250 .0500 7.200 11/01/2027
610000050 JOHN,PATRICIA KENNY 7.500 .250 7.250 .0500 7.200 11/01/2027
610000052 SCOTT,SUSAN STEWART 7.500 .250 7.250 .0500 7.200 11/01/2027
610000053 MENDELL,FANYA WEINSTEI 7.625 .250 7.375 .0500 7.325 11/01/2027
610000055 JOHN,JOYCE IGOE 7.625 .250 7.375 .0500 7.325 11/01/2027
610000056 GREGORY ERIGERO 7.625 .250 7.375 .0500 7.325 11/01/2027
610000061 DOUGLAS,CAROL BLOCK 7.625 .250 7.375 .0500 7.325 11/01/2027
610000062 STEPHEN,TINA JEANMINE 7.625 .250 7.375 .0500 7.325 11/01/2027
610000064 JOSEPH,LOUISE MCCULLOC 7.750 .250 7.500 .0500 7.450 11/01/2027
610000065 NEAL,JAN KATZ/ZEI 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>
610000044 JAMES, LOIS MINTZ 0092469635 $4,033.07 01/01/1998 360
610000045 BRUCE, PEGGY BEAR 0092469639 $2,159.17 01/01/1998 360
610000047 FLOYD/GLEN FURLONG/ 0092469642 $2,097.64 01/01/1998 360
610000048 ROB,KAREN CLARK 0092469643 $2,391.31 01/01/1998 360
610000049 NINA NISENHOL 0092469645 $2,433.27 01/01/1998 360
610000050 JOHN,PATRICIA KENNY 0092469646 $1,887.88 01/01/1998 360
610000052 SCOTT,SUSAN STEWART 0092469649 $2,174.56 01/01/1998 360
610000053 MENDELL,FANYA WEINSTEI 0092469650 $1,988.90 01/01/1998 360
610000055 JOHN,JOYCE IGOE 0092469652 $1,936.52 01/01/1998 360
610000056 GREGORY ERIGERO 0092469654 $2,191.33 01/01/1998 360
610000061 DOUGLAS,CAROL BLOCK 0092469662 $2,017.21 01/01/1998 360
610000062 STEPHEN,TINA JEANMINE 0092469664 $2,300.33 01/01/1998 360
610000064 JOSEPH,LOUISE MCCULLOC 0092469666 $2,435.80 01/01/1998 360
610000065 NEAL,JAN KATZ/ZEI 0092469667 $3,245.35 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
610000044 JAMES, LOIS MINTZ .00 .00 .00 .000 .250 .300 $721,000.00 N
610000045 BRUCE, PEGGY BEAR .00 .00 .00 .000 .250 .300 $386,000.00 N
610000047 FLOYD/GLEN FURLONG/ .00 .00 .00 .000 .250 .300 $375,000.00 N
610000048 ROB,KAREN CLARK .00 .00 .00 .000 .250 .300 $427,500.00 N
610000049 NINA NISENHOL .00 .00 .00 .000 .250 .300 $435,000.00 N
610000050 JOHN,PATRICIA KENNY .00 .00 .00 .000 .250 .300 $635,000.00 N
610000052 SCOTT,SUSAN STEWART .00 .00 .00 .000 .250 .300 $390,000.00 N
610000053 MENDELL,FANYA WEINSTEI .00 .00 .00 .000 .250 .300 $415,000.00 N
610000055 JOHN,JOYCE IGOE .00 .00 .00 .000 .250 .300 $342,000.00 N
610000056 GREGORY ERIGERO .00 .00 .00 .000 .250 .300 $387,000.00 N
610000061 DOUGLAS,CAROL BLOCK .00 .00 .00 .000 .250 .300 $500,000.00 N
610000062 STEPHEN,TINA JEANMINE .00 .00 .00 .000 .250 .300 $410,000.00 N
610000064 JOSEPH,LOUISE MCCULLOC .00 .00 .00 .000 .250 .300 $540,000.00 N
610000065 NEAL,JAN KATZ/ZEI .00 .00 .00 .000 .250 .300 $575,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 106
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
610000066 DENNIS,LESLIE HALL 3875 MELISSA LANE CASTRO VALLEY CA 94546 $316,147.72
610000067 KURT,ELIZABETH CHISMARK 13732 QUAKER HILL CROSS R NEVADA CITY CA 95959 $339,218.95
610000068 STEWART,JAYNE FURMAN 9510 VISTA ALETA VALLEY CENTER CA 92082 $263,626.14
610000069 KEITH,LAURA MATSUTSU 5 FOXCREST IRVINE CA 92620 $284,846.04
610000070 TZYY-YANG,MEDEL HWANG 13321 RED PLUM STREET CERRITOS CA 90703 $299,575.15
610000073 MARK,LAURA CARTIER 307 TAMARRON WAY SAN RAMON CA 94583 $255,637.46
610000074 THOMAS,DEBRA HODGENS 530 ABBIE STREET PLEASANTON CA 94566 $381,958.32
610000075 KUMAR,AARTI ASAR 7079 WILDERNESS CIRCLE SAN JOSE CA 95135 $354,497.28
610000076 ELISE,STEPHEN LUSK/GOD 252 AMHERST AVENUE KENSINGTON CA 94708 $278,603.68
610000077 LOUIS,LINDA KRONE 4033 RAPATEE DRIVE LA MESA CA 91941 $247,579.69
610000080 MARIANNE LANGHOLF 1742 SANTA BARBARA DRIVE SAN JOSE CA 95125 $399,447.63
610000081 BARRY,MELINDA FLANDERS GUADALUPE ST 4TH SW OF OC CARMEL CA 93921 $448,379.97
610000082 JEFF,KRISTINA KERRIN 101 BELLA VISTA AVENUE BELVEDERE CA 94920 $349,516.69
610000086 MARK,MARIE MICKELSO 1325 WOODRUFF AVENUE LOS ANGELES CA 90024 $567,115.78
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
610000066 DENNIS,LESLIE HALL 7.750 .250 7.500 .0500 7.450 11/01/2027
610000067 KURT,ELIZABETH CHISMARK 7.750 .250 7.500 .0500 7.450 11/01/2027
610000068 STEWART,JAYNE FURMAN 7.750 .250 7.500 .0500 7.450 11/01/2027
610000069 KEITH,LAURA MATSUTSU 7.750 .250 7.500 .0500 7.450 11/01/2027
610000070 TZYY-YANG,MEDEL HWANG 7.750 .250 7.500 .0500 7.450 11/01/2027
610000073 MARK,LAURA CARTIER 7.750 .250 7.500 .0500 7.450 11/01/2027
610000074 THOMAS,DEBRA HODGENS 7.750 .250 7.500 .0500 7.450 11/01/2027
610000075 KUMAR,AARTI ASAR 7.750 .250 7.500 .0500 7.450 11/01/2027
610000076 ELISE,STEPHEN LUSK/GOD 7.750 .250 7.500 .0500 7.450 11/01/2027
610000077 LOUIS,LINDA KRONE 7.750 .250 7.500 .0500 7.450 11/01/2027
610000080 MARIANNE LANGHOLF 7.875 .250 7.625 .0500 7.575 11/01/2027
610000081 BARRY,MELINDA FLANDERS 7.875 .250 7.625 .0500 7.575 11/01/2027
610000082 JEFF,KRISTINA KERRIN 7.875 .250 7.625 .0500 7.575 11/01/2027
610000086 MARK,MARIE MICKELSO 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>
610000066 DENNIS,LESLIE HALL 0092469668 $2,271.74 01/01/1998 360
610000067 KURT,ELIZABETH CHISMARK 0092469670 $2,433.65 01/01/1998 360
610000068 STEWART,JAYNE FURMAN 0092469672 $1,891.33 01/01/1998 360
610000069 KEITH,LAURA MATSUTSU 0092469673 $2,043.57 01/01/1998 360
610000070 TZYY-YANG,MEDEL HWANG 0092469675 $2,149.24 01/01/1998 360
610000073 MARK,LAURA CARTIER 0092469626 $1,834.02 01/01/1998 360
610000074 THOMAS,DEBRA HODGENS 0092469627 $2,740.28 01/01/1998 360
610000075 KUMAR,AARTI ASAR 0092469628 $2,543.26 01/01/1998 360
610000076 ELISE,STEPHEN LUSK/GOD 0092469631 $1,998.79 01/01/1998 360
610000077 LOUIS,LINDA KRONE 0092469634 $1,776.70 01/01/1998 360
610000080 MARIANNE LANGHOLF 0092469659 $2,900.28 01/01/1998 360
610000081 BARRY,MELINDA FLANDERS 0092469671 $3,255.56 01/01/1998 360
610000082 JEFF,KRISTINA KERRIN 0092469674 $2,537.74 01/01/1998 360
610000086 MARK,MARIE MICKELSO 0092469685 $4,117.67 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
610000066 DENNIS,LESLIE HALL .00 .00 .00 .000 .250 .300 $600,000.00 N
610000067 KURT,ELIZABETH CHISMARK .00 .00 .00 .000 .250 .300 $450,000.00 N
610000068 STEWART,JAYNE FURMAN .00 .00 .00 .000 .250 .300 $330,000.00 N
610000069 KEITH,LAURA MATSUTSU .00 .00 .00 .000 .250 .300 $356,624.00 N
610000070 TZYY-YANG,MEDEL HWANG .00 .00 .00 .000 .250 .300 $380,000.00 N
610000073 MARK,LAURA CARTIER .00 .00 .00 .000 .250 .300 $320,000.00 N
610000074 THOMAS,DEBRA HODGENS .00 .00 .00 .000 .250 .300 $515,000.00 N
610000075 KUMAR,AARTI ASAR .00 .00 .00 .000 .250 .300 $499,000.00 N
610000076 ELISE,STEPHEN LUSK/GOD .00 .00 .00 .000 .250 .300 $370,000.00 N
610000077 LOUIS,LINDA KRONE .00 .00 .00 .000 .250 .300 $310,000.00 N
610000080 MARIANNE LANGHOLF .00 .00 .00 .000 .250 .300 $540,000.00 N
610000081 BARRY,MELINDA FLANDERS .00 .00 .00 .000 .250 .300 $625,000.00 N
610000082 JEFF,KRISTINA KERRIN .00 .00 .00 .000 .250 .300 $550,000.00 N
610000086 MARK,MARIE MICKELSO .00 .00 .00 .000 .250 .300 $709,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 107
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
610000087 PHILIP GREIDER 7428 MULHOLLAND DRIVE LOS ANGELES CA 90046 $384,468.34
610000088 MARK,DIANNE BENNETT 31454 WILDWOOD CREEK ROAD EUGENE OR 97405 $381,225.93
610000089 CRAIG,JANET RESNICK 5465 EAST NAPOLEON AVENUE AGOURA AREA CA 91301 $423,839.38
610000090 DON,SUSAN THOMAS 2586 AMHERST STREET LA VERNE CA 91750 $233,185.61
610000093 PO-WEN,CHIU-SON LI 9961 SOUTH CENTER DRIVE VILLA PARK CA 92861 $346,532.79
610000094 DAVID/TERESA CRON 144 LOWELL AVENUE SAN RAFAEL CA 94903 $261,647.24
610000097 ROBERT/TERESA SHOVLOWS 3316 PINE VALLEY ROAD SAN RAMON CA 94583 $288,370.96
610000098 STEPHEN/NANCY BILLIAS/ 36 EL CERRITO AVENUE SAN RAFAEL CA 94901 $268,446.87
610000100 MATTHEW,LAURA KLEIN 572 GERARD COURT PLEASANTON CA 94566 $294,622.48
610000101 RAJENDRA/SUBHAS CHOWKWAL 10537 MILLER AVENUE CUPERTINO CA 95014 $534,315.35
610000105 KEVIN CHENG 1033-1037 WASHINGTON STRE SAN FRANCISCO CA 94108 $407,491.05
610000114 SAMUEL,AIDA CRUZ 609 SOUTH MORNINGSTAR DRI ANAHEIM CA 92808 $235,713.04
610000115 GRAHAM/JOANN/LE BENNETT/ 156-158-158A NOE STREET SAN FRANCISCO CA 94114 $399,286.41
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
610000087 PHILIP GREIDER 7.875 .250 7.625 .0500 7.575 11/01/2027
610000088 MARK,DIANNE BENNETT 8.000 .250 7.750 .0500 7.700 10/01/2027
610000089 CRAIG,JANET RESNICK 8.000 .250 7.750 .0500 7.700 10/01/2027
610000090 DON,SUSAN THOMAS 8.000 .250 7.750 .0500 7.700 11/01/2027
610000093 PO-WEN,CHIU-SON LI 8.000 .250 7.750 .0500 7.700 11/01/2027
610000094 DAVID/TERESA CRON 8.000 .250 7.750 .0500 7.700 11/01/2027
610000097 ROBERT/TERESA SHOVLOWS 8.125 .250 7.875 .0500 7.825 11/01/2027
610000098 STEPHEN/NANCY BILLIAS/ 8.125 .250 7.875 .0500 7.825 11/01/2027
610000100 MATTHEW,LAURA KLEIN 8.250 .250 8.000 .0500 7.950 11/01/2027
610000101 RAJENDRA/SUBHAS CHOWKWAL 8.250 .250 8.000 .0500 7.950 11/01/2027
610000105 KEVIN CHENG 8.375 .250 8.125 .0500 8.075 11/01/2027
610000114 SAMUEL,AIDA CRUZ 8.500 .250 8.250 .0500 8.200 11/01/2027
610000115 GRAHAM/JOANN/LE BENNETT/ 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>
610000087 PHILIP GREIDER 0092469687 $2,791.52 01/01/1998 360
610000088 MARK,DIANNE BENNETT 0092469689 $2,802.98 01/01/1998 360
610000089 CRAIG,JANET RESNICK 0092469692 $3,116.30 01/01/1998 360
610000090 DON,SUSAN THOMAS 0092469694 $1,713.34 01/01/1998 360
610000093 PO-WEN,CHIU-SON LI 0092469706 $2,546.16 01/01/1998 360
610000094 DAVID/TERESA CRON 0092469713 $1,922.46 01/01/1998 360
610000097 ROBERT/TERESA SHOVLOWS 0092469721 $2,143.96 01/01/1998 360
610000098 STEPHEN/NANCY BILLIAS/ 0092469727 $1,997.32 01/01/1998 360
610000100 MATTHEW,LAURA KLEIN 0092469733 $2,216.24 01/01/1998 360
610000101 RAJENDRA/SUBHAS CHOWKWAL 0092469736 $4,019.28 01/01/1998 360
610000105 KEVIN CHENG 0092469742 $3,101.09 01/01/1998 360
610000114 SAMUEL,AIDA CRUZ 0092469756 $1,814.64 01/01/1998 360
610000115 GRAHAM/JOANN/LE BENNETT/ 0092469758 $3,111.16 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
610000087 PHILIP GREIDER .00 .00 .00 .000 .250 .300 $560,000.00 N
610000088 MARK,DIANNE BENNETT .00 .00 .00 .000 .250 .300 $485,000.00 N
610000089 CRAIG,JANET RESNICK .00 .00 .00 .000 .250 .300 $645,000.00 N
610000090 DON,SUSAN THOMAS .00 .00 .00 .000 .250 .300 $300,000.00 N
610000093 PO-WEN,CHIU-SON LI .00 .00 .00 .000 .250 .300 $527,000.00 N
610000094 DAVID/TERESA CRON .00 .00 .00 .000 .250 .300 $330,000.00 N
610000097 ROBERT/TERESA SHOVLOWS .00 .00 .00 .000 .250 .300 $385,000.00 N
610000098 STEPHEN/NANCY BILLIAS/ .00 .00 .00 .000 .250 .300 $360,000.00 N
610000100 MATTHEW,LAURA KLEIN .00 .00 .00 .000 .250 .300 $380,000.00 N
610000101 RAJENDRA/SUBHAS CHOWKWAL .00 .00 .00 .000 .250 .300 $668,950.00 N
610000105 KEVIN CHENG .00 .00 .00 .000 .250 .300 $510,000.00 N
610000114 SAMUEL,AIDA CRUZ .00 .00 .00 .000 .250 .300 $302,000.00 N
610000115 GRAHAM/JOANN/LE BENNETT/ .00 .00 .00 .000 .250 .300 $500,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 108
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:50:48 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group 1
<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
----- ------- ------- --------- --------- -----
<S> <C> <C> <C> <C> <C> <C>
** POOL
** TOTAL 1497 2 476,784,935.03 661,223,839.00 478,030,451.82 3,424,323.51
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 1
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:07:47 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105194 Roffman Howard L. 233 & 253 Buena Vista Eas San Francisco CA 94117 $1,090,207.77
600105199 Glaser Barney 1350 Pine Trail Tahoe City CA 96145 $317,255.41
600105201 Billings, Jr., Edmund 2019-2021 Lake Street San Francisco CA 94121 $463,648.52
600105208 Levy Gary A. Seasons # T-5 Handle Road West Dover VT 05356 $255,543.31
600105210 Gabriel Hani Elias 8 Bramblewood Irvine CA 92620 $274,312.78
600105213 Wanke, III Fred W 4264-4266-4268 Montalvo S San Diego CA 92107 $279,182.66
600105241 Royland Carsten O 9722 S E 43rd Avenue Portland OR 97222 $238,040.61
600105263 Solari Camden D. 999 Lakeshore Boulevard # Incline Village NV 89450 $282,967.68
600105264 Mcdermott Patrick S 1626-1630 Broderick Stre San Francisco CA 94115 $398,514.87
600105265 Manoogian Michael E 1499 Reynolds Court Thousand Oaks CA 91362 $259,023.06
600105270 Lagergren Thomas J. 18 Foxcrest Irvine CA 92620 $290,631.99
600105272 Nervo Frederick 20824 Pamela Way Saratoga CA 95070 $359,193.47
600105274 Skordilis Nicholas 1186 Starling Ridge Court San Jose CA 95120 $399,058.20
600105275 Brant George M 3425 Dove Hollow Road Encinitas CA 92024 $307,053.88
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105194 Roffman Howard L. 8.100 .250 7.850 .0500 7.800 12/01/2026
600105199 Glaser Barney 8.625 .250 8.375 .0500 8.325 04/01/2027
600105201 Billings, Jr., Edmund 8.250 .250 8.000 .0500 7.950 04/01/2027
600105208 Levy Gary A. 8.625 .250 8.375 .0500 8.325 10/01/2027
600105210 Gabriel Hani Elias 7.250 .250 7.000 .0500 6.950 08/01/2027
600105213 Wanke, III Fred W 8.750 .250 8.500 .0500 8.450 08/01/2027
600105241 Royland Carsten O 8.250 .250 8.000 .0500 7.950 10/01/2027
600105263 Solari Camden D. 8.375 .250 8.125 .0500 8.075 10/01/2027
600105264 Mcdermott Patrick S 8.500 .250 8.250 .0500 8.200 11/01/2027
600105265 Manoogian Michael E 7.500 .250 7.250 .0500 7.200 08/01/2027
600105270 Lagergren Thomas J. 7.250 .250 7.000 .0500 6.950 09/01/2027
600105272 Nervo Frederick 7.500 .250 7.250 .0500 7.200 10/01/2027
600105274 Skordilis Nicholas 7.250 .250 7.000 .0500 6.950 10/01/2027
600105275 Brant George M 7.375 .250 7.125 .0500 7.075 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>
600105194 Roffman Howard L. 206977 $8,148.22 01/01/1998 360
600105199 Glaser Barney 230595 $2,481.15 01/01/1998 360
600105201 Billings, Jr., Edmund 232967 $3,503.91 01/01/1998 360
600105208 Levy Gary A. 256844 $1,991.14 01/01/1998 360
600105210 Gabriel Hani Elias 259225 $1,878.71 01/01/1998 360
600105213 Wanke, III Fred W 262924 $2,202.77 01/01/1998 360
600105241 Royland Carsten O 270663 $1,791.77 01/01/1998 360
600105263 Solari Camden D. 273618 $2,154.80 01/01/1998 360
600105264 Mcdermott Patrick S 273878 $3,067.96 12 01/01/1998 360
600105265 Manoogian Michael E 273901 $1,817.96 01/01/1998 360
600105270 Lagergren Thomas J. 274302 $1,988.88 01/01/1998 360
600105272 Nervo Frederick 274532 $2,517.17 01/01/1998 360
600105274 Skordilis Nicholas 274538 $2,728.71 01/01/1998 360
600105275 Brant George M 274540 $2,127.28 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600105194 Roffman Howard L. $1,425,000.00 N
600105199 Glaser Barney $399,000.00 N
600105201 Billings, Jr., Edmund $583,000.00 N
600105208 Levy Gary A. $339,000.00 N
600105210 Gabriel Hani Elias $367,200.00 N
600105213 Wanke, III Fred W $350,000.00 N
600105241 Royland Carsten O $300,000.00 N
600105263 Solari Camden D. $378,000.00 N
600105264 Mcdermott Patrick S $420,000.00 N
600105265 Manoogian Michael E $450,000.00 N
600105270 Lagergren Thomas J. $364,486.00 N
600105272 Nervo Frederick $715,000.00 N
600105274 Skordilis Nicholas $647,000.00 N
600105275 Brant George M $565,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 2
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:07:47 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105290 Student Eugene 25505 Gaylord Court Calabasas CA 91302 $453,943.12
600105315 Adlam John S 3550 Santoro Way San Diego CA 92130 $269,263.69
600105320 Woods John Bradl 15104 Donner Pass Road Truckee CA 96161 $299,293.66
600105331 Cetti, Jr. Fred Rober 31 Green Turtle Road Coronado CA 92118 $249,608.78
600105341 Cohen Judith 1542 Le Roy Avenue Berkeley CA 94708 $259,609.01
600105348 Garrett Carol A. 120 Coral Drive Orinda CA 94563 $303,547.37
600105359 Martino Samuel S 4222 Olympiad Drive Los Angeles CA 90043 $259,417.49
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105290 Student Eugene 7.500 .250 7.250 .0500 7.200 10/01/2027
600105315 Adlam John S 8.375 .250 8.125 .0500 8.075 11/01/2027
600105320 Woods John Bradl 7.250 .250 7.000 .0500 6.950 10/01/2027
600105331 Cetti, Jr. Fred Rober 7.250 .250 7.000 .0500 6.950 11/01/2027
600105341 Cohen Judith 7.450 .250 7.200 .0500 7.150 11/01/2027
600105348 Garrett Carol A. 7.500 .250 7.250 .0500 7.200 11/01/2027
600105359 Martino Samuel S 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>
600105290 Student Eugene 276428 $3,181.43 01/01/1998 360
600105315 Adlam John S 278551 $2,049.15 01/01/1998 360
600105320 Woods John Bradl 278847 $2,046.53 01/01/1998 360
600105331 Cetti, Jr. Fred Rober 280478 $1,705.44 01/01/1998 360
600105341 Cohen Judith 281249 $1,809.06 01/01/1998 360
600105348 Garrett Carol A. 282138 $2,125.61 01/01/1998 360
600105359 Martino Samuel S 283941 $1,817.96 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600105290 Student Eugene $760,000.00 N
600105315 Adlam John S $337,000.00 N
600105320 Woods John Bradl $455,000.00 N
600105331 Cetti, Jr. Fred Rober $595,000.00 N
600105341 Cohen Judith $755,000.00 N
600105348 Garrett Carol A. $380,000.00 N
600105359 Martino Samuel S $325,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 3
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:07:47 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 1 POOL NAME: 1998-1 Group I
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
</TABLE>
<TABLE>
<CAPTION>
LOAN # OF CURRENT PROPERTY ORIG LOAN
COUNT BUYDOWN BALANCE VALUE AMOUNT P & I
----- ------- ------- --------- --------- -----
<S> <C> <C> <C> <C> <C> <C>
** POOL
** TOTAL 21 0 7,309,317.33 10,909,686.00 7,335,950.00 53,135.61
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 1
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500064459 FLOYD,JAMES A 3805 STREAMWOOD HAZEL CREST IL 60429 $277,808.96
500065509 KLONDARIS,MICHAEL J&FERMB 117 WOODLAWN DR WARSAW IN 46580 $249,106.11
500066243 HERNANDEZ,MANUEL 9473 SW 125 TERRACE MIAMI FL 33176 $250,530.21
500066315 YOVANOVICH,JAY D 4 ROCKHILL DRIVE BETHLEHEM TOWNS NJ 08827 $329,364.36
500066319 ANDREANO,SAL R 21 ARBOR WAY MORRIS TOWNSHIP NJ 07961 $229,545.59
500066323 CHONG,NYUK CHOY 2715 MADRILLO COURT PASADENA CA 91107 $272,296.45
500066327 ZIMBLE,LESLIE L 65 WEDGEWOOD DRIVE EASTON MA 02356 $296,312.78
500066330 SEEDS,PATRICK A 6481 HALF DOME COURT LIVERMORE CA 94550 $254,409.20
500066344 COOKE,JOSEPH P 3418 WATERVIEW WAY WALL NJ 07719 $231,553.12
500066360 HUBBART,MICHAEL 26831 VALPARISO DRIVE MISSION VIEJO CA 92691 $300,933.86
500066374 SORENSON,DONALD R 13837 SOUTH 4000 WEST BLUFFDALE UT 84065 $232,490.86
500066393 KOUMOULIS,CHRISTOPHER 3 TULLER COURT TOWNSHIP OF MID NJ 07738 $249,680.06
500066394 ALDORT,HENRY A 1508 W. SALTSAGE DRIVE PHOENIX AZ 85045 $229,372.26
500066415 KEPRTA,DANIEL J 20081 MIDLAND LANE HUNTINGTON BEAC CA 92646 $269,423.33
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500064459 FLOYD,JAMES A 8.250 .150 8.100 .1000 8.000 04/01/2027
500065509 KLONDARIS,MICHAEL J&FERMB 7.875 .250 7.625 .0500 7.575 08/01/2027
500066243 HERNANDEZ,MANUEL 8.375 .250 8.125 .0500 8.075 09/01/2027
500066315 YOVANOVICH,JAY D 8.250 .150 8.100 .1000 8.000 10/01/2027
500066319 ANDREANO,SAL R 8.125 .150 7.975 .1000 7.875 10/01/2027
500066323 CHONG,NYUK CHOY 8.250 .250 8.000 .0500 7.950 09/01/2027
500066327 ZIMBLE,LESLIE L 8.125 .150 7.975 .1000 7.875 10/01/2027
500066330 SEEDS,PATRICK A 8.375 .250 8.125 .0500 8.075 09/01/2027
500066344 COOKE,JOSEPH P 8.250 .250 8.000 .0500 7.950 10/01/2027
500066360 HUBBART,MICHAEL 8.375 .250 8.125 .0500 8.075 10/01/2027
500066374 SORENSON,DONALD R 7.625 .150 7.475 .1000 7.375 10/01/2027
500066393 KOUMOULIS,CHRISTOPHER 8.250 .150 8.100 .1000 8.000 11/01/2027
500066394 ALDORT,HENRY A 7.000 .150 6.850 .1000 6.750 11/01/2027
500066415 KEPRTA,DANIEL J 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>
500064459 FLOYD,JAMES A 092407156 $2,100.54 3 01/01/1998 360
500065509 KLONDARIS,MICHAEL J&FERMB 110140178 $1,812.67 01/01/1998 360
500066243 HERNANDEZ,MANUEL 092455073 $1,915.39 01/01/1998 360
500066315 YOVANOVICH,JAY D 092418794 $2,479.18 3 01/01/1998 360
500066319 ANDREANO,SAL R 092446769 $1,707.74 01/01/1998 360
500066323 CHONG,NYUK CHOY 092449470 $2,050.96 01/01/1998 360
500066327 ZIMBLE,LESLIE L 092451418 $2,204.85 3 01/01/1998 360
500066330 SEEDS,PATRICK A 092451656 $1,938.57 2 01/01/1998 360
500066344 COOKE,JOSEPH P 092455958 $1,742.94 01/01/1998 360
500066360 HUBBART,MICHAEL 092455134 $2,291.62 12 01/01/1998 360
500066374 SORENSON,DONALD R 092450913 $1,649.16 01/01/1998 360
500066393 KOUMOULIS,CHRISTOPHER 092427061 $1,878.17 01/01/1998 360
500066394 ALDORT,HENRY A 092429894 $1,528.53 01/01/1998 360
500066415 KEPRTA,DANIEL J 092457796 $2,004.74 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
500064459 FLOYD,JAMES A .00 .00 .00 .000 .150 .250 $310,695.16 N
500065509 KLONDARIS,MICHAEL J&FERMB .00 .00 .00 .000 .250 .300 $318,000.00 N
500066243 HERNANDEZ,MANUEL .00 .00 .00 .000 .250 .300 $367,400.00 N
500066315 YOVANOVICH,JAY D .00 .00 .00 .000 .150 .250 $388,809.00 N
500066319 ANDREANO,SAL R .00 .00 .00 .000 .150 .250 $287,500.00 N
500066323 CHONG,NYUK CHOY .00 .00 .00 .000 .250 .300 $345,000.00 N
500066327 ZIMBLE,LESLIE L .00 .00 .00 .000 .150 .250 $345,000.00 N
500066330 SEEDS,PATRICK A .00 .00 .00 .000 .250 .300 $268,513.00 N
500066344 COOKE,JOSEPH P .00 .00 .00 .000 .250 .300 $290,000.00 N
500066360 HUBBART,MICHAEL .00 .00 .00 .000 .250 .300 $335,000.00 N
500066374 SORENSON,DONALD R .00 .00 .00 .000 .150 .250 $300,000.00 N
500066393 KOUMOULIS,CHRISTOPHER .00 .00 .00 .000 .150 .250 $536,725.00 N
500066394 ALDORT,HENRY A .00 .00 .00 .000 .150 .250 $287,245.00 N
500066415 KEPRTA,DANIEL J .00 .00 .00 .000 .250 .300 $340,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 2
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066430 WAINWRIGHT,ROBERT W 161 FOXHILL DRIVE BOROUGH OF LITT NJ 07739 $274,648.09
500066440 DEBENEDETTO,MICHAEL G 110 WEST LAKE DRIVE MOUNT PLEASANT NY 10595 $244,569.46
500066443 DANIEL,ALEXANDER M 101 PROVIDENCE ROAD WESTFORD MA 01886 $245,925.36
500066507 ROMANETZ,PAUL W&HARVEY,JU 902 N. LONG DRIVE SYRACUSE IN 46567 $263,822.86
500066553 MAHER,WILLIAM C 46 PENNOCK ROAD ASHLAND MA 01721 $229,690.31
500066555 TURKS,CLARENCE O JR 8 TEALWOOD COURT ALGONQUIN IL 60102 $236,510.50
500066556 SHULER,JAMES E 304 S. MILL VIEW WAY PONTE VEDRA BEA FL 32082 $269,538.02
500066563 OKON,STANLEY F 3905 S. TROPICAL TRAIL MERRITT ISLAND FL 32952 $239,369.00
500066566 SIDDIQUI,RAFAY M 114 HUNTLEY DRIVE ARDSLEY NY 10502 $244,286.98
500066567 STANLEY,JAMES H 2771 PINELAWN DRIVE LA CRESCENTA CA 91214 $237,721.28
500066572 SUSSKIND,STEVEN P 7 JAMESTOWN COURT EAST BRUNSWICK NJ 08816 $232,170.74
500066576 HANSCH,MICHAEL,W. 8407 104TH STREET NW, GIG HARBOR WA 98332 $247,402.20
500066578 SEAL,DIANE 7681 GALINA STREET LAKEWOOD IL 60014 $224,031.05
500066582 TENHOFF,GRANT B. 4228 141ST STREET S.E., SNOHOMISH WA 98296 $235,411.25
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066430 WAINWRIGHT,ROBERT W 8.250 .150 8.100 .1000 8.000 11/01/2027
500066440 DEBENEDETTO,MICHAEL G 8.000 .150 7.850 .1000 7.750 11/01/2027
500066443 DANIEL,ALEXANDER M 8.250 .250 8.000 .0500 7.950 10/01/2027
500066507 ROMANETZ,PAUL W&HARVEY,JU 8.000 .250 7.750 .0500 7.700 12/01/2027
500066553 MAHER,WILLIAM C 8.000 .150 7.850 .1000 7.750 11/01/2027
500066555 TURKS,CLARENCE O JR 7.000 .150 6.850 .1000 6.750 11/01/2027
500066556 SHULER,JAMES E 7.750 .150 7.600 .1000 7.500 11/01/2027
500066563 OKON,STANLEY F 7.875 .150 7.725 .1000 7.625 11/01/2027
500066566 SIDDIQUI,RAFAY M 8.250 .250 8.000 .0500 7.950 11/01/2027
500066567 STANLEY,JAMES H 7.875 .150 7.725 .1000 7.625 11/01/2027
500066572 SUSSKIND,STEVEN P 7.750 .150 7.600 .1000 7.500 11/01/2027
500066576 HANSCH,MICHAEL,W. 7.625 .250 7.375 .0500 7.325 10/01/2027
500066578 SEAL,DIANE 7.000 .150 6.850 .1000 6.750 11/01/2027
500066582 TENHOFF,GRANT B. 7.750 .250 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>
500066430 WAINWRIGHT,ROBERT W 092457690 $2,065.98 01/01/1998 360
500066440 DEBENEDETTO,MICHAEL G 092454142 $1,797.72 01/01/1998 360
500066443 DANIEL,ALEXANDER M 092457802 $1,851.13 01/01/1998 360
500066507 ROMANETZ,PAUL W&HARVEY,JU 110141945 $1,937.14 01/01/1998 360
500066553 MAHER,WILLIAM C 092425775 $1,687.66 01/01/1998 360
500066555 TURKS,CLARENCE O JR 092437374 $1,576.10 12 01/01/1998 360
500066556 SHULER,JAMES E 092438916 $1,934.31 12 01/01/1998 360
500066563 OKON,STANLEY F 092454147 $1,737.99 12 01/01/1998 360
500066566 SIDDIQUI,RAFAY M 092456169 $1,837.60 1 01/01/1998 360
500066567 STANLEY,JAMES H 092456270 $1,726.03 01/01/1998 360
500066572 SUSSKIND,STEVEN P 092458158 $1,665.66 01/01/1998 360
500066576 HANSCH,MICHAEL,W. 092460007 $1,755.33 01/01/1998 360
500066578 SEAL,DIANE 092460373 $1,492.94 01/01/1998 360
500066582 TENHOFF,GRANT B. 092461123 $1,690.73 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
500066430 WAINWRIGHT,ROBERT W .00 .00 .00 .000 .150 .250 $465,000.00 N
500066440 DEBENEDETTO,MICHAEL G .00 .00 .00 .000 .150 .250 $375,000.00 N
500066443 DANIEL,ALEXANDER M .00 .00 .00 .000 .250 .300 $308,000.00 N
500066507 ROMANETZ,PAUL W&HARVEY,JU .00 .00 .00 .000 .250 .300 $347,000.00 N
500066553 MAHER,WILLIAM C .00 .00 .00 .000 .150 .250 $309,023.00 N
500066555 TURKS,CLARENCE O JR .00 .00 .00 .000 .150 .250 $278,755.00 N
500066556 SHULER,JAMES E .00 .00 .00 .000 .150 .250 $301,520.00 N
500066563 OKON,STANLEY F .00 .00 .00 .000 .150 .250 $280,000.00 N
500066566 SIDDIQUI,RAFAY M .00 .00 .00 .000 .250 .300 $257,500.00 N
500066567 STANLEY,JAMES H .00 .00 .00 .000 .150 .250 $355,000.00 N
500066572 SUSSKIND,STEVEN P .00 .00 .00 .000 .150 .250 $332,500.00 N
500066576 HANSCH,MICHAEL,W. .00 .00 .00 .000 .250 .300 $310,000.00 N
500066578 SEAL,DIANE .00 .00 .00 .000 .150 .250 $280,500.00 N
500066582 TENHOFF,GRANT B. .00 .00 .00 .000 .250 .300 $295,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 3
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066584 VERHOVSEK,H THOMAS II 6408 BOB-WHITE COURT DUNKIRK MD 20754 $215,644.87
500066626 LIEBELT,KURT G 152 NAVIGATOR DRIVE SCOTTS VALLEY CA 95066 $255,438.68
500066628 BLEZNAK,ERICA TAXIN 205 RAWLES RUN LANE RADNOR TOWNSHIP PA 19010 $251,652.02
500066629 LOMBARDI,MICHAEL JAMES 3109 LAMA AVENUE LONG BEACH CA 90808 $252,667.88
500066631 RADFAR,FEREYDOON D 1105 TALL TREES DR PITTSBURGH PA 15241 $262,128.27
500066635 GREENGARD,LESLIE F 45B CHOCHECO AVENUE BRANFORD CT 06405 $299,585.73
500066638 MENDEZ,ERICK 18053 SUNBURST STREET (NORTHRIDGE ARE CA 91325 $244,752.90
500066640 SMITH,GLORIA 101 LOMBARD STREET #204-W SAN FRANCISCO CA 94111 $227,338.31
500066657 MCCARTNEY,JAMES R IV 94 TAMARACK ROAD WESTWOOD MA 02090 $233,236.72
500066674 LUNDE,MARTIN A 10520 WYNYATES LANE CHARLOTTE NC 28270 $233,988.86
500066676 FOX,WILLIAM J 44 SHIPWAYS PLACE, UNIT 4 BOSTON MA 02129 $239,821.89
500066678 STILES,WILLIAM H 415 BERKLEY ROAD BOROUGH OF STON NJ 08247 $299,793.54
500066698 BALL,B L & SANDRA M 1212 GETTYSVUE WAY KNOXVILLE TN 37922 $301,770.20
500066706 WICKRAMASINGHE,DINELI M 19 PHILLIPS LANE NEWTON MA 02158 $237,305.33
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066584 VERHOVSEK,H THOMAS II 7.000 .150 6.850 .1000 6.750 11/01/2027
500066626 LIEBELT,KURT G 8.500 .250 8.250 .0500 8.200 06/01/2027
500066628 BLEZNAK,ERICA TAXIN 7.875 .150 7.725 .1000 7.625 11/01/2027
500066629 LOMBARDI,MICHAEL JAMES 8.125 .250 7.875 .0500 7.825 11/01/2027
500066631 RADFAR,FEREYDOON D 7.750 .150 7.600 .1000 7.500 11/01/2027
500066635 GREENGARD,LESLIE F 7.875 .150 7.725 .1000 7.625 11/01/2027
500066638 MENDEZ,ERICK 7.750 .250 7.500 .0500 7.450 11/01/2027
500066640 SMITH,GLORIA 7.875 .150 7.725 .1000 7.625 11/01/2027
500066657 MCCARTNEY,JAMES R IV 7.250 .150 7.100 .1000 7.000 11/01/2027
500066674 LUNDE,MARTIN A 7.875 .150 7.725 .1000 7.625 12/01/2027
500066676 FOX,WILLIAM J 7.500 .150 7.350 .1000 7.250 12/01/2027
500066678 STILES,WILLIAM H 7.875 .150 7.725 .1000 7.625 12/01/2027
500066698 BALL,B L & SANDRA M 7.375 .250 7.125 .0500 7.075 12/01/2027
500066706 WICKRAMASINGHE,DINELI M 7.000 .150 6.850 .1000 6.750 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>
500066584 VERHOVSEK,H THOMAS II 092461657 $1,437.05 12 01/01/1998 360
500066626 LIEBELT,KURT G 092455974 $1,972.65 1 01/01/1998 360
500066628 BLEZNAK,ERICA TAXIN 092457834 $1,827.17 01/01/1998 360
500066629 LOMBARDI,MICHAEL JAMES 092459349 $1,878.52 01/01/1998 360
500066631 RADFAR,FEREYDOON D 092462357 $1,880.58 01/01/1998 360
500066635 GREENGARD,LESLIE F 092463506 $2,175.21 01/01/1998 360
500066638 MENDEZ,ERICK 092464072 $1,755.93 7 01/01/1998 360
500066640 SMITH,GLORIA 092464580 $1,653.16 01/01/1998 360
500066657 MCCARTNEY,JAMES R IV 092463311 $1,593.90 01/01/1998 360
500066674 LUNDE,MARTIN A 092431748 $1,697.75 12 01/01/1998 360
500066676 FOX,WILLIAM J 092451598 $1,678.11 01/01/1998 360
500066678 STILES,WILLIAM H 092457668 $2,175.21 01/01/1998 360
500066698 BALL,B L & SANDRA M 8661288 $2,085.84 01/01/1998 360
500066706 WICKRAMASINGHE,DINELI M 092465739 $1,580.09 3 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
500066584 VERHOVSEK,H THOMAS II .00 .00 .00 .000 .150 .250 $262,500.00 N
500066626 LIEBELT,KURT G .00 .00 .00 .000 .250 .300 $285,066.00 N
500066628 BLEZNAK,ERICA TAXIN .00 .00 .00 .000 .150 .250 $315,000.00 N
500066629 LOMBARDI,MICHAEL JAMES .00 .00 .00 .000 .250 .300 $320,000.00 N
500066631 RADFAR,FEREYDOON D .00 .00 .00 .000 .150 .250 $350,000.00 N
500066635 GREENGARD,LESLIE F .00 .00 .00 .000 .150 .250 $375,000.00 N
500066638 MENDEZ,ERICK .00 .00 .00 .000 .250 .300 $258,000.00 N
500066640 SMITH,GLORIA .00 .00 .00 .000 .150 .250 $285,000.00 N
500066657 MCCARTNEY,JAMES R IV .00 .00 .00 .000 .150 .250 $386,000.00 N
500066674 LUNDE,MARTIN A .00 .00 .00 .000 .150 .250 $247,902.00 N
500066676 FOX,WILLIAM J .00 .00 .00 .000 .150 .250 $392,500.00 N
500066678 STILES,WILLIAM H .00 .00 .00 .000 .150 .250 $405,000.00 N
500066698 BALL,B L & SANDRA M .00 .00 .00 .000 .250 .300 $425,000.00 N
500066706 WICKRAMASINGHE,DINELI M .00 .00 .00 .000 .150 .250 $250,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 4
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066710 MILOSEVICH,VINCENT G 131 EAST COLT ROAD TEMPE AZ 85284 $234,820.84
500066713 YAMADA,ROBERT R& HOPE A 949 PASEO LA CRESTA CHULA VISTA CA 91910 $233,008.65
500066714 KARTSOTIS, KOSTA 3032 MILTON STREET UNIVERSITY PARK TX 75205 $303,458.68
500066722 FRANCIS,GARY S&MARGARET L 15 WINTERBERRY LN MORELAND HILLS OH 44022 $450,743.43
500066725 CARPENTER,LORNA&WOULFE,M 835 FOXGLOVE COURT BROOKFIELD WI 53045 $229,674.29
500066734 MASSOPUST,THOMAS & JAYNE 12660 BARBARY CT NEW BERLIN WI 53151 $229,416.36
500066735 ROSS,DAVID,W & CATHY,M 12900 SE MOUNTAIN GATE RD PORTLAND OR 97236 $448,283.29
500066745 WAYNE,JUDITH M&PETER H 203 CORALBERRY ROAD LOUISVILLE KY 40207 $369,420.99
500066749 SEN,SUVRAJEET&HIGLE,JULIA 560 EAST GLENHURST DRIVE ORO VALLEY AZ 85737 $227,369.34
500066750 GINN,ROBERT M& ANITA B 18603 SOUTHEAST 280TH ST KENT WA 98042 $252,650.62
500066752 GOODE,WILLIAM& RUTH A 302 WALDEN COURT WEXFORD PA 15090 $452,890.16
500066759 MORGAN,ROGER E&JENNIFER A 7705 OAKMONT PLACE RALEIGH NC 27615 $349,277.63
500066760 HYLTON,WILLIAM J&MICHELLE 5606 WINDING ROAD CRYSTAL LAKE IL 60014 $384,668.08
500066769 MAY,DARRYL F& SUSAN M 769 SAYLOR AVE ELMHURST IL 60126 $261,828.70
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066710 MILOSEVICH,VINCENT G 7.375 .150 7.225 .1000 7.125 12/01/2027
500066713 YAMADA,ROBERT R& HOPE A 7.875 .250 7.625 .0500 7.575 11/01/2027
500066714 KARTSOTIS, KOSTA 7.625 .250 7.375 .0500 7.325 11/01/2027
500066722 FRANCIS,GARY S&MARGARET L 7.875 .250 7.625 .0500 7.575 09/01/2027
500066725 CARPENTER,LORNA&WOULFE,M 7.750 .250 7.500 .0500 7.450 11/01/2027
500066734 MASSOPUST,THOMAS & JAYNE 7.625 .250 7.375 .0500 7.325 11/01/2027
500066735 ROSS,DAVID,W & CATHY,M 8.000 .250 7.750 .0500 7.700 11/01/2027
500066745 WAYNE,JUDITH M&PETER H 7.250 .250 7.000 .0500 6.950 11/01/2027
500066749 SEN,SUVRAJEET&HIGLE,JULIA 7.625 .250 7.375 .0500 7.325 11/01/2027
500066750 GINN,ROBERT M& ANITA B 7.875 .250 7.625 .0500 7.575 11/01/2027
500066752 GOODE,WILLIAM& RUTH A 7.250 .250 7.000 .0500 6.950 11/01/2027
500066759 MORGAN,ROGER E&JENNIFER A 7.500 .250 7.250 .0500 7.200 11/01/2027
500066760 HYLTON,WILLIAM J&MICHELLE 7.875 .250 7.625 .0500 7.575 11/01/2027
500066769 MAY,DARRYL F& SUSAN M 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>
500066710 MILOSEVICH,VINCENT G 092468478 $1,623.09 01/01/1998 360
500066713 YAMADA,ROBERT R& HOPE A 8654414 $1,696.67 12 01/01/1998 360
500066714 KARTSOTIS, KOSTA 0948549 $2,150.99 01/01/1998 360
500066722 FRANCIS,GARY S&MARGARET L 8632620 $3,277.32 01/01/1998 360
500066725 CARPENTER,LORNA&WOULFE,M 0948895 $1,647.75 01/01/1998 360
500066734 MASSOPUST,THOMAS & JAYNE 0949631 $1,626.16 01/01/1998 360
500066735 ROSS,DAVID,W & CATHY,M 0945009 $3,293.87 01/01/1998 360
500066745 WAYNE,JUDITH M&PETER H 0948495 $2,524.05 01/01/1998 360
500066749 SEN,SUVRAJEET&HIGLE,JULIA 0950608 $1,611.65 12 01/01/1998 360
500066750 GINN,ROBERT M& ANITA B 0948703 $1,834.43 01/01/1998 360
500066752 GOODE,WILLIAM& RUTH A 0948689 $3,094.35 01/01/1998 360
500066759 MORGAN,ROGER E&JENNIFER A 0948101 $2,447.25 01/01/1998 360
500066760 HYLTON,WILLIAM J&MICHELLE 0943653 $2,792.97 12 01/01/1998 360
500066769 MAY,DARRYL F& SUSAN M 0948825 $1,878.43 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
500066710 MILOSEVICH,VINCENT G .00 .00 .00 .000 .150 .250 $315,000.00 N
500066713 YAMADA,ROBERT R& HOPE A .00 .00 .00 .000 .250 .300 $265,000.00 N
500066714 KARTSOTIS, KOSTA .00 .00 .00 .000 .250 .300 $381,000.00 N
500066722 FRANCIS,GARY S&MARGARET L .00 .00 .00 .000 .250 .300 $565,000.00 N
500066725 CARPENTER,LORNA&WOULFE,M .00 .00 .00 .000 .250 .300 $295,000.00 N
500066734 MASSOPUST,THOMAS & JAYNE .00 .00 .00 .000 .250 .300 $295,000.00 N
500066735 ROSS,DAVID,W & CATHY,M .00 .00 .00 .000 .250 .300 $765,000.00 N
500066745 WAYNE,JUDITH M&PETER H .00 .00 .00 .000 .250 .300 $498,500.00 N
500066749 SEN,SUVRAJEET&HIGLE,JULIA .00 .00 .00 .000 .250 .300 $257,000.00 N
500066750 GINN,ROBERT M& ANITA B .00 .00 .00 .000 .250 .300 $340,000.00 N
500066752 GOODE,WILLIAM& RUTH A .00 .00 .00 .000 .250 .300 $620,000.00 N
500066759 MORGAN,ROGER E&JENNIFER A .00 .00 .00 .000 .250 .300 $470,000.00 N
500066760 HYLTON,WILLIAM J&MICHELLE .00 .00 .00 .000 .250 .300 $428,000.00 N
500066769 MAY,DARRYL F& SUSAN M .00 .00 .00 .000 .250 .300 $341,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 5
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066773 MISIEJUK,ANDREW&MARGARET 103 SOUTH POTEET AVE INVERNESS IL 60067 $251,232.77
500066774 BLAKE,KENNETH R 2817 87TH TRAIL NORTH BROOKLYN PARK MN 55443 $238,324.28
500066775 HECK,KENT&JONES,JULIA 4718 WILLOW HOUSTON TX 77401 $389,098.18
500066776 BOHL,WAYNE & DEE 85 OAK KNOLL DR LAKE FOREST IL 60045 $344,325.92
500066777 BROUGHER,KENNETH& LAURA J 4402 126TH STREET CT NW GIG HARBOR WA 98332 $244,386.07
500066778 SULLIVAN, NEIL H 3625 STRATFORD ROAD DURHAM NC 27707 $297,057.06
500066783 NOBLE, GEORGE W 156 WAVERLY WAY KIRKLAND WA 98033 $352,512.55
500066785 ASFAHL,DONALD L& SHARON K 165 TOTEM ROAD LOUISVILLE KY 40207 $315,552.48
500066796 ALTMANN,STEVEN R 32 SUNNYSIDE DRIVE MONTVALE NJ 07645 $272,812.12
500066798 LEE,DONG J 7 GLENWOOD COURT TENAFLY BOROUGH NJ 07670 $285,812.92
500066809 YOUNGDAHL,WILLIAM E 5432 W WESTWIND GLENDALE AZ 85310 $229,985.98
500066817 RICHESON,GEORGE E 57 ROOSEVELT STREET ST. CHARLES IL 60174 $228,138.87
500066818 RAY,JEFFREY W 2534 ONTARIO DRIVE LAS VEGAS NV 89128 $215,489.95
500066831 BARTLETT,DAVID J 509 55TH AVENUE ST. PETERSBURG FL 33706 $232,839.65
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066773 MISIEJUK,ANDREW&MARGARET 7.625 .250 7.375 .0500 7.325 11/01/2027
500066774 BLAKE,KENNETH R 7.875 .250 7.625 .0500 7.575 11/01/2027
500066775 HECK,KENT&JONES,JULIA 7.750 .250 7.500 .0500 7.450 11/01/2027
500066776 BOHL,WAYNE & DEE 7.875 .250 7.625 .0500 7.575 11/01/2027
500066777 BROUGHER,KENNETH& LAURA J 7.875 .250 7.625 .0500 7.575 11/01/2027
500066778 SULLIVAN, NEIL H 7.500 .250 7.250 .0500 7.200 11/01/2027
500066783 NOBLE, GEORGE W 7.875 .250 7.625 .0500 7.575 11/01/2027
500066785 ASFAHL,DONALD L& SHARON K 7.750 .250 7.500 .0500 7.450 11/01/2027
500066796 ALTMANN,STEVEN R 7.875 .150 7.725 .1000 7.625 12/01/2027
500066798 LEE,DONG J 8.125 .150 7.975 .1000 7.875 12/01/2027
500066809 YOUNGDAHL,WILLIAM E 7.750 .150 7.600 .1000 7.500 12/01/2027
500066817 RICHESON,GEORGE E 7.750 .150 7.600 .1000 7.500 12/01/2027
500066818 RAY,JEFFREY W 7.500 .150 7.350 .1000 7.250 12/01/2027
500066831 BARTLETT,DAVID J 7.875 .150 7.725 .1000 7.625 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>
500066773 MISIEJUK,ANDREW&MARGARET 0948507 $1,783.65 01/01/1998 360
500066774 BLAKE,KENNETH R 0949834 $1,731.47 2 01/01/1998 360
500066775 HECK,KENT&JONES,JULIA 0948239 $2,791.51 01/01/1998 360
500066776 BOHL,WAYNE & DEE 0944954 $2,501.49 01/01/1998 360
500066777 BROUGHER,KENNETH& LAURA J 0948250 $1,775.33 01/01/1998 360
500066778 SULLIVAN, NEIL H 0948527 $2,080.16 01/01/1998 360
500066783 NOBLE, GEORGE W 0948724 $2,559.49 01/01/1998 360
500066785 ASFAHL,DONALD L& SHARON K 0945545 $2,263.87 01/01/1998 360
500066796 ALTMANN,STEVEN R 092445947 $1,979.44 01/01/1998 360
500066798 LEE,DONG J 092456196 $2,123.54 01/01/1998 360
500066809 YOUNGDAHL,WILLIAM E 092464939 $1,649.72 33 01/01/1998 360
500066817 RICHESON,GEORGE E 092468267 $1,635.57 12 01/01/1998 360
500066818 RAY,JEFFREY W 092468374 $1,507.86 2 01/01/1998 360
500066831 BARTLETT,DAVID J 092464604 $1,689.41 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
500066773 MISIEJUK,ANDREW&MARGARET .00 .00 .00 .000 .250 .300 $340,000.00 N
500066774 BLAKE,KENNETH R .00 .00 .00 .000 .250 .300 $282,000.00 N
500066775 HECK,KENT&JONES,JULIA .00 .00 .00 .000 .250 .300 $493,000.00 N
500066776 BOHL,WAYNE & DEE .00 .00 .00 .000 .250 .300 $500,000.00 N
500066777 BROUGHER,KENNETH& LAURA J .00 .00 .00 .000 .250 .300 $350,000.00 N
500066778 SULLIVAN, NEIL H .00 .00 .00 .000 .250 .300 $450,000.00 N
500066783 NOBLE, GEORGE W .00 .00 .00 .000 .250 .300 $550,000.00 N
500066785 ASFAHL,DONALD L& SHARON K .00 .00 .00 .000 .250 .300 $403,000.00 N
500066796 ALTMANN,STEVEN R .00 .00 .00 .000 .150 .250 $355,000.00 N
500066798 LEE,DONG J .00 .00 .00 .000 .150 .250 $450,000.00 N
500066809 YOUNGDAHL,WILLIAM E .00 .00 .00 .000 .150 .250 $242,400.00 N
500066817 RICHESON,GEORGE E .00 .00 .00 .000 .150 .250 $272,000.00 N
500066818 RAY,JEFFREY W .00 .00 .00 .000 .150 .250 $227,000.00 N
500066831 BARTLETT,DAVID J .00 .00 .00 .000 .150 .250 $360,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 6
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066857 BURGOS,AMERICO III 9 ELLIOT DRIVE PLEASANT HILL CA 94523 $229,333.89
500066861 ARNOLD,STEPHEN T 21417 PALOS VERDES BLVD TORRANCE CA 90503 $237,747.81
500066869 DESROSIERS,JAMES 5 ALDERSGATE WAY NORTH READING MA 01864 $237,840.31
500066873 EMMONS,JASON G 17601 NE BAKER TRAIL LANE NEWBERG OR 97132 $271,033.57
500066885 AUSTIN,CATHY P 350 SANTA CLARA AVENUE OAKLAND CA 94610 $232,585.73
500066916 DAYAN,STEVE ALLEN 3312 DESCANSO DRIVE LOS ANGELES CA 90026 $253,829.57
500066919 CASTAN,J CARLOS 898 HILLCREST ROAD RIDGEWOOD NJ 07450 $274,810.75
500066930 MCCARTNEY,BOBBIE J 520 COUNSIL COURT N.E. VIENNA VA 22180 $227,693.02
500066934 SMOTER,JON T 1144 RAVINIA DRIVE GURNEE IL 60031 $238,000.00
500066938 WILLIS,GARY A 900 WARDMAN DRIVE BREA CA 92821 $223,250.00
500066956 SMITH,RICHARD H JR 290 PINE ORCHARD ROAD BRANFORD CT 06405 $249,827.95
500066959 QUICK,STEVEN E 620 RIFORD ROAD GLEN ELLYN IL 60137 $230,000.00
500067006 DAUGHERTY,RHETT L 111 JAMESTOWN COURT TOWNSHIP OF MED NJ 08055 $226,575.00
500067009 O'CONNELL,JOHN P 145 GLADES ROAD SCITUATE MA 02066 $260,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066857 BURGOS,AMERICO III 7.625 .150 7.475 .1000 7.375 12/01/2027
500066861 ARNOLD,STEPHEN T 8.250 .250 8.000 .0500 7.950 11/01/2027
500066869 DESROSIERS,JAMES 8.000 .250 7.750 .0500 7.700 12/01/2027
500066873 EMMONS,JASON G 7.750 .150 7.600 .1000 7.500 12/01/2027
500066885 AUSTIN,CATHY P 7.750 .150 7.600 .1000 7.500 12/01/2027
500066916 DAYAN,STEVE ALLEN 8.000 .250 7.750 .0500 7.700 12/01/2027
500066919 CASTAN,J CARLOS 7.875 .150 7.725 .1000 7.625 12/01/2027
500066930 MCCARTNEY,BOBBIE J 8.000 .250 7.750 .0500 7.700 11/01/2027
500066934 SMOTER,JON T 7.375 .150 7.225 .1000 7.125 01/01/2028
500066938 WILLIS,GARY A 7.000 .150 6.850 .1000 6.750 01/01/2028
500066956 SMITH,RICHARD H JR 7.875 .150 7.725 .1000 7.625 12/01/2027
500066959 QUICK,STEVEN E 7.250 .150 7.100 .1000 7.000 01/01/2028
500067006 DAUGHERTY,RHETT L 7.875 .150 7.725 .1000 7.625 01/01/2028
500067009 O'CONNELL,JOHN P 8.000 .250 7.750 .0500 7.700 01/01/2028
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
500066857 BURGOS,AMERICO III 092458731 $1,624.39 12 01/01/1998 360
500066861 ARNOLD,STEPHEN T 092461715 $1,799.28 01/01/1998 360
500066869 DESROSIERS,JAMES 092464835 $1,746.36 01/01/1998 360
500066873 EMMONS,JASON G 092466167 $1,943.09 12 01/01/1998 360
500066885 AUSTIN,CATHY P 092469496 $1,667.45 12 01/01/1998 360
500066916 DAYAN,STEVE ALLEN 092467907 $1,863.76 01/01/1998 360
500066919 CASTAN,J CARLOS 092468566 $1,993.94 01/01/1998 360
500066930 MCCARTNEY,BOBBIE J 092458213 $1,672.98 7 01/01/1998 360
500066934 SMOTER,JON T 092466742 $1,643.81 3 01/01/1998 360
500066938 WILLIS,GARY A 092472098 $1,485.29 2 01/01/1998 360
500066956 SMITH,RICHARD H JR 092463463 $1,812.67 01/01/1998 360
500066959 QUICK,STEVEN E 092467053 $1,569.01 01/01/1998 360
500067006 DAUGHERTY,RHETT L 092464715 $1,642.83 12 01/01/1998 360
500067009 O'CONNELL,JOHN P 092466050 $1,907.79 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
500066857 BURGOS,AMERICO III .00 .00 .00 .000 .150 .250 $255,000.00 N
500066861 ARNOLD,STEPHEN T .00 .00 .00 .000 .250 .300 $345,000.00 N
500066869 DESROSIERS,JAMES .00 .00 .00 .000 .250 .300 $302,000.00 N
500066873 EMMONS,JASON G .00 .00 .00 .000 .150 .250 $285,500.00 N
500066885 AUSTIN,CATHY P .00 .00 .00 .000 .150 .250 $245,000.00 N
500066916 DAYAN,STEVE ALLEN .00 .00 .00 .000 .250 .300 $320,000.00 N
500066919 CASTAN,J CARLOS .00 .00 .00 .000 .150 .250 $365,000.00 N
500066930 MCCARTNEY,BOBBIE J .00 .00 .00 .000 .250 .300 $240,000.00 N
500066934 SMOTER,JON T .00 .00 .00 .000 .150 .250 $265,000.00 N
500066938 WILLIS,GARY A .00 .00 .00 .000 .150 .250 $235,000.00 N
500066956 SMITH,RICHARD H JR .00 .00 .00 .000 .150 .250 $575,000.00 N
500066959 QUICK,STEVEN E .00 .00 .00 .000 .150 .250 $299,000.00 N
500067006 DAUGHERTY,RHETT L .00 .00 .00 .000 .150 .250 $238,500.00 N
500067009 O'CONNELL,JOHN P .00 .00 .00 .000 .250 .300 $344,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 7
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500067012 KUZUOKA,NOBUKO 22 TEN EYCK PLACE EDISON TOWNSHIP NJ 08820 $265,500.00
500067028 MALONEY,MICHAEL A 406 CHURCH STREET BOONTON NJ 07005 $261,065.61
500067411 BACKSTROM,JAMES A 832 MONTEITH DRIVE TREDYFFRIN TOWN PA 19087 $312,000.00
500067414 STEWARD,FREDERICK A 309 N PASADENA DRIVE PITTSBURGH PA 15215 $267,000.00
500067417 BURCHELL,DEL A 2611 MARLO WAY LAKESIDE PARK KY 41017 $292,000.00
600070226 MARVIN SHAPIRO 18778 ALGIERS ST NORTHRIDGE CA 91326 $269,876.54
600070426 ALEXANDER C WRIGHT 4918 LOCKHAVEN AV LOS ANGELES CA 90041 $258,327.31
600070430 KIM S COLE 12 TANGLEWOOD ALISO VIEJO CA 92656 $230,548.30
600088344 SIMPSON 5904 ANJOLEA WAY LAFAYETTE IN 47905 $239,272.62
600088345 JOLDERSMA 7064 SUMMIT HILL CT SE CALEDONIA MI 49316 $232,973.08
600088346 ISRAEL 1834 CORNERBROOK CT INDIANAPOLIS IN 46240 $319,132.50
600088348 JONES 1430 CRAMTON AVE N E ADA MI 49301 $277,946.94
600088349 PETERSILGE 16212 SILVERSHORE FENTON MI 48430 $239,462.30
600088350 NAHERNAK 2000 LAKESHORE ROAD PORT SANILAC MI 48469 $315,775.90
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500067012 KUZUOKA,NOBUKO 8.125 .150 7.975 .1000 7.875 01/01/2028
500067028 MALONEY,MICHAEL A 7.750 .250 7.500 .0500 7.450 12/01/2027
500067411 BACKSTROM,JAMES A 7.750 .150 7.600 .1000 7.500 01/01/2028
500067414 STEWARD,FREDERICK A 7.750 .150 7.600 .1000 7.500 01/01/2028
500067417 BURCHELL,DEL A 8.000 .250 7.750 .0500 7.700 01/01/2028
600070226 MARVIN SHAPIRO 8.875 .250 8.625 .0400 8.585 01/01/2022
600070426 ALEXANDER C WRIGHT 8.875 .250 8.625 .0400 8.585 04/01/2022
600070430 KIM S COLE 8.450 .250 8.200 .0400 8.160 03/01/2022
600088344 SIMPSON 8.100 .250 7.850 .0500 7.800 10/01/2027
600088345 JOLDERSMA 8.050 .250 7.800 .0500 7.750 09/01/2027
600088346 ISRAEL 8.000 .250 7.750 .0500 7.700 09/01/2027
600088348 JONES 8.100 .250 7.850 .0500 7.800 10/01/2027
600088349 PETERSILGE 7.500 .250 7.250 .0500 7.200 10/01/2027
600088350 NAHERNAK 7.950 .250 7.700 .0500 7.650 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>
500067012 KUZUOKA,NOBUKO 092467777 $1,971.33 3 01/01/1998 360
500067028 MALONEY,MICHAEL A 092471409 $1,871.63 2 01/01/1998 360
500067411 BACKSTROM,JAMES A 092462543 $2,235.21 01/01/1998 360
500067414 STEWARD,FREDERICK A 092467294 $1,912.82 01/01/1998 360
500067417 BURCHELL,DEL A 092469107 $2,142.59 01/01/1998 360
600070226 MARVIN SHAPIRO 092458744 $2,267.59 01/01/1998 360
600070426 ALEXANDER C WRIGHT 092459050 $2,164.15 01/01/1998 360
600070430 KIM S COLE 092458856 $1,867.51 01/01/1998 360
600088344 SIMPSON 0169292 $1,777.80 01/01/1998 360
600088345 JOLDERSMA 1457902 $1,722.23 01/01/1998 360
600088346 ISRAEL 1468016 $2,348.05 01/01/1998 360
600088348 JONES 3273323 $2,062.99 01/01/1998 360
600088349 PETERSILGE 3287471 $1,678.12 01/01/1998 360
600088350 NAHERNAK 3288776 $2,314.27 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
500067012 KUZUOKA,NOBUKO .00 .00 .00 .000 .150 .250 $295,000.00 N
500067028 MALONEY,MICHAEL A .00 .00 .00 .000 .250 .300 $275,000.00 N
500067411 BACKSTROM,JAMES A .00 .00 .00 .000 .150 .250 $390,000.00 N
500067414 STEWARD,FREDERICK A .00 .00 .00 .000 .150 .250 $345,000.00 N
500067417 BURCHELL,DEL A .00 .00 .00 .000 .250 .300 $430,000.00 N
600070226 MARVIN SHAPIRO .00 .00 .00 .000 .250 .290 $380,000.00 N
600070426 ALEXANDER C WRIGHT .00 .00 .00 .000 .250 .290 $390,000.00 N
600070430 KIM S COLE .00 .00 .00 .000 .250 .290 $305,000.00 N
600088344 SIMPSON .00 .00 .00 .000 .250 .300 $326,000.00 N
600088345 JOLDERSMA .00 .00 .00 .000 .250 .300 $292,000.00 N
600088346 ISRAEL .00 .00 .00 .000 .250 .300 $415,000.00 N
600088348 JONES .00 .00 .00 .000 .250 .300 $380,000.00 N
600088349 PETERSILGE .00 .00 .00 .000 .250 .300 $335,000.00 N
600088350 NAHERNAK .00 .00 .00 .000 .250 .300 $420,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 8
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600088351 BERNER 8 UNIVERSITY CIRCLE HAWTHORN WOODS IL 60047 $242,047.27
600101513 DONALD WILSON 6749 MAPLE CREEK BLVD WEST BLOOMFIELD MI 48322 $272,274.70
600101515 ROBERT BENS 589 CHESTERFIELD LN LAKE ZURICH IL 60010 $238,956.13
600101517 KEVIN N MCGRATH 3018 SHOREWOOD BLVD FORT GRATIOT MI 48059 $275,429.29
600101521 PAUL C BUCKLEY 48621 TERRITORIAL PLYMOUTH MI 48170 $235,293.06
600101522 DONALD W HODSON 7524 25TH STREET KALAMAZOO MI 49001 $299,404.25
600101525 GERALD A LEISTEN 37 CAMBERLEY CT HINSDALE IL 60521 $272,358.05
600101526 CARL R HAYES 94579 COUNTY ROAD 690 DOWAGIAC MI 49047 $259,499.17
600101529 LIDO P ALDINI 12305 DEER CREEK CR PLYMOUTH MI 48170 $284,451.05
600103155 DEMPSEY DANIEL 725 AMBERWOOD COURT TROY MI 48098 $233,925.48
600103159 MULDOON GERALD 12357 W DEL RICO YUMA AZ 85367 $227,964.81
600103160 DELILLO DAVID 13031 MARCY RANCH ROAD SANTA ANA CA 92705 $470,620.43
600103169 SOMOGYI GEORGE 88 BAKERSFIELD AVENUE CAYUCOS CA 93430 $229,293.44
600103170 DISHAROON LARRY 1480 KNOLLWOOD PLACE CHULA VISTA CA 91915 $226,552.34
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600088351 BERNER 7.950 .250 7.700 .0500 7.650 10/01/2027
600101513 DONALD WILSON 8.100 .250 7.850 .0500 7.800 09/01/2027
600101515 ROBERT BENS 8.050 .250 7.800 .0500 7.750 09/01/2027
600101517 KEVIN N MCGRATH 7.900 .250 7.650 .0500 7.600 10/01/2027
600101521 PAUL C BUCKLEY 7.500 .250 7.250 .0500 7.200 10/01/2027
600101522 DONALD W HODSON 8.100 .250 7.850 .0500 7.800 10/01/2027
600101525 GERALD A LEISTEN 8.100 .250 7.850 .0500 7.800 10/01/2027
600101526 CARL R HAYES 8.250 .250 8.000 .0500 7.950 10/01/2027
600101529 LIDO P ALDINI 8.250 .250 8.000 .0500 7.950 10/01/2027
600103155 DEMPSEY DANIEL 7.625 .250 7.375 .0500 7.325 08/01/2027
600103159 MULDOON GERALD 7.500 .250 7.250 .0500 7.200 09/01/2027
600103160 DELILLO DAVID 7.625 .250 7.375 .0500 7.325 09/01/2027
600103169 SOMOGYI GEORGE 7.375 .250 7.125 .0500 7.075 09/01/2027
600103170 DISHAROON LARRY 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>
600088351 BERNER 3292240 $1,774.59 01/01/1998 360
600101513 DONALD WILSON 3241023 $2,022.25 01/01/1998 360
600101515 ROBERT BENS 3285137 $1,766.46 12 01/01/1998 360
600101517 KEVIN N MCGRATH 3299187 $2,005.99 01/01/1998 360
600101521 PAUL C BUCKLEY 3306222 $1,650.15 01/01/1998 360
600101522 DONALD W HODSON 3306263 $2,222.25 01/01/1998 360
600101525 GERALD A LEISTEN 3325412 $2,021.51 01/01/1998 360
600101526 CARL R HAYES 3340759 $1,953.30 01/01/1998 360
600101529 LIDO P ALDINI 3369840 $2,141.11 01/01/1998 360
600103155 DEMPSEY DANIEL 450804257 $1,663.32 01/01/1998 360
600103159 MULDOON GERALD 450806294 $1,598.76 2 01/01/1998 360
600103160 DELILLO DAVID 450806708 $3,340.79 01/01/1998 360
600103169 SOMOGYI GEORGE 450814710 $1,588.56 01/01/1998 360
600103170 DISHAROON LARRY 450815170 $1,627.69 3 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600088351 BERNER .00 .00 .00 .000 .250 .300 $325,000.00 N
600101513 DONALD WILSON .00 .00 .00 .000 .250 .300 $415,500.00 N
600101515 ROBERT BENS .00 .00 .00 .000 .250 .300 $266,250.00 N
600101517 KEVIN N MCGRATH .00 .00 .00 .000 .250 .300 $345,000.00 N
600101521 PAUL C BUCKLEY .00 .00 .00 .000 .250 .300 $295,000.00 N
600101522 DONALD W HODSON .00 .00 .00 .000 .250 .300 $400,000.00 N
600101525 GERALD A LEISTEN .00 .00 .00 .000 .250 .300 $360,000.00 N
600101526 CARL R HAYES .00 .00 .00 .000 .250 .300 $330,000.00 N
600101529 LIDO P ALDINI .00 .00 .00 .000 .250 .300 $380,000.00 N
600103155 DEMPSEY DANIEL .00 .00 .00 .000 .250 .300 $315,000.00 N
600103159 MULDOON GERALD .00 .00 .00 .000 .250 .300 $276,000.00 N
600103160 DELILLO DAVID .00 .00 .00 .000 .250 .300 $590,000.00 N
600103169 SOMOGYI GEORGE .00 .00 .00 .000 .250 .300 $515,000.00 N
600103170 DISHAROON LARRY .00 .00 .00 .000 .250 .300 $239,180.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 9
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103172 SCHATZ JEFFREY 4108 BLEDSOE AVENUE CULVER CITY CA 90066 $227,316.79
600103184 KUNIEDA TOMOKI 281 HARMON AVE. FORT LEE NJ 7024 $497,150.23
600103188 MYERS LAWRENCE 714 SOUTH MORRIS STREET OXFORD MD 21654 $279,240.91
600103190 BLAU MARK 3203 GRAYMARSH COURT IJAMSVILLE MD 21754 $229,756.06
600103196 DZIKI WALTER 700 MULLADY PARKWAY LIBERTYVILL IL 60048 $266,023.20
600103204 ZAGORSKI STEVEN 134 HILLSIDE AVENUE WATCHUNG NJ 7060 $232,335.76
600103205 STRATTON GERALD 25600 WHIP ROAD MONTEREY CA 93940 $492,021.19
600103213 MCCORMICK ROBERT 20 ANVIL CIRCLE EDWARDS CO 81632 $498,879.79
600103215 TANCREDI DENISE 14 LORI COURT NEW HEMPSTE NY 10977 $229,018.00
600103243 WHEELER KEVIN 806 ABERDEEN WAY SOUTHLAKE TX 76092 $279,372.68
600103247 HILL JOHNNIE 4928 S GREENWOOD CHICAGO IL 60615 $277,507.32
600103248 LUGO JAVIER 2403 NW 49TH LANE BOCA RATON FL 33431 $540,784.32
600103250 ROLLINS WILLIAM 2700 MAPLE AVENUE MANHATTAN B CA 90266 $486,461.11
600103260 O'CONNOR WILLIAM 21324 COMUS COURT ASHBURN VA 20147 $239,488.55
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103172 SCHATZ JEFFREY 7.500 .250 7.250 .0500 7.200 09/01/2027
600103184 KUNIEDA TOMOKI 8.500 .250 8.250 .0500 8.200 09/01/2027
600103188 MYERS LAWRENCE 8.000 .250 7.750 .0500 7.700 09/01/2027
600103190 BLAU MARK 7.125 .250 6.875 .0500 6.825 09/01/2027
600103196 DZIKI WALTER 7.750 .250 7.500 .0500 7.450 09/01/2027
600103204 ZAGORSKI STEVEN 7.750 .250 7.500 .0500 7.450 09/01/2027
600103205 STRATTON GERALD 7.500 .250 7.250 .0500 7.200 09/01/2027
600103213 MCCORMICK ROBERT 7.500 .250 7.250 .0500 7.200 10/01/2027
600103215 TANCREDI DENISE 6.875 .250 6.625 .0500 6.575 10/01/2027
600103243 WHEELER KEVIN 7.500 .250 7.250 .0500 7.200 10/01/2027
600103247 HILL JOHNNIE 7.750 .250 7.500 .0500 7.450 10/01/2027
600103248 LUGO JAVIER 8.250 .250 8.000 .0500 7.950 10/01/2027
600103250 ROLLINS WILLIAM 7.750 .250 7.500 .0500 7.450 10/01/2027
600103260 O'CONNOR WILLIAM 7.750 .250 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>
600103172 SCHATZ JEFFREY 450816186 $1,594.21 01/01/1998 360
600103184 KUNIEDA TOMOKI 450819883 $3,902.24 01/01/1998 360
600103188 MYERS LAWRENCE 450822580 $2,054.55 01/01/1998 360
600103190 BLAU MARK 450824941 $1,552.93 01/01/1998 360
600103196 DZIKI WALTER 450832480 $1,922.86 01/01/1998 360
600103204 ZAGORSKI STEVEN 450835889 $1,669.25 01/01/1998 360
600103205 STRATTON GERALD 450836770 $3,450.63 01/01/1998 360
600103213 MCCORMICK ROBERT 450841234 $3,496.08 01/01/1998 360
600103215 TANCREDI DENISE 450843107 $1,508.31 01/01/1998 360
600103243 WHEELER KEVIN 450852611 $1,957.80 01/01/1998 360
600103247 HILL JOHNNIE 450853957 $1,992.35 01/01/1998 360
600103248 LUGO JAVIER 450854468 $4,070.58 01/01/1998 360
600103250 ROLLINS WILLIAM 450856109 $3,492.51 01/01/1998 360
600103260 O'CONNOR WILLIAM 450860218 $1,719.39 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103172 SCHATZ JEFFREY .00 .00 .00 .000 .250 .300 $285,000.00 N
600103184 KUNIEDA TOMOKI .00 .00 .00 .000 .250 .300 $725,000.00 N
600103188 MYERS LAWRENCE .00 .00 .00 .000 .250 .300 $350,000.00 N
600103190 BLAU MARK .00 .00 .00 .000 .250 .300 $331,000.00 N
600103196 DZIKI WALTER .00 .00 .00 .000 .250 .300 $335,500.00 N
600103204 ZAGORSKI STEVEN .00 .00 .00 .000 .250 .300 $304,000.00 N
600103205 STRATTON GERALD .00 .00 .00 .000 .250 .300 $660,000.00 N
600103213 MCCORMICK ROBERT .00 .00 .00 .000 .250 .300 $625,000.00 N
600103215 TANCREDI DENISE .00 .00 .00 .000 .250 .300 $287,000.00 Y
600103243 WHEELER KEVIN .00 .00 .00 .000 .250 .300 $411,300.00 N
600103247 HILL JOHNNIE .00 .00 .00 .000 .250 .300 $765,000.00 N
600103248 LUGO JAVIER .00 .00 .00 .000 .250 .300 $677,285.00 N
600103250 ROLLINS WILLIAM .00 .00 .00 .000 .250 .300 $650,000.00 N
600103260 O'CONNOR WILLIAM .00 .00 .00 .000 .250 .300 $300,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 10
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103262 CUMMINGS JOHN 312 TUXEDO AVENUE SAN ANTONIO TX 78209 $229,680.49
600103278 KIM SANG 8699 HILLCREST ROAD BUENA PARK CA 90621 $640,597.13
600103283 ZELLMER JEFFREY 655 SPARHAWK DRIVE MORGAN HILL CA 95037 $496,369.20
600103297 MARBARGER PETER 9300 PROSPECT DRIVE ANCHORAGE AK 99516 $472,580.84
600103304 BROWN CRAIG 5972 LOHR LAKE ROAD ANN ARBOR MI 48108 $229,274.84
600103305 COOPER DANIEL 3410 SOUTHBLUFF CIR ANCHORAGE AK 99515 $457,398.22
600103308 GOODSTEIN STANLEY 725 PORTOLA ROAD PORTOLA VAL CA 94028 $648,614.80
600103318 ROSEN EMANUEL 825 HARVARD AVENUE MENLO PARK CA 94025 $543,790.13
600103321 THOMPSON KAREN 102 WRIGHTS CIRCLE NORTH WALES PA 19454 $231,437.25
600103329 BECK LELAND 110 SNOWPLANT ROAD BLAINE COUN ID 83333 $379,475.24
600103336 SPENCER CHRISTOPHE 603 SINGLE SPUR COURT SCOTTS VALL CA 95066 $231,077.64
600103346 PUETTMANN SCOTT 1263 CEDARS VALLEY ROAD ST ALBANS MO 63073 $449,346.53
600103352 SHAUGHNESSY THOMAS 3078 FRIARS LANE EDGEWOOD KY 41017 $499,090.63
600103354 LAVIGNA RONALD 1255 SAN ANTONIO ROAD PETALUMA CA 94952 $502,804.70
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103262 CUMMINGS JOHN 7.000 .250 6.750 .0500 6.700 10/01/2027
600103278 KIM SANG 7.625 .250 7.375 .0500 7.325 10/01/2027
600103283 ZELLMER JEFFREY 7.000 .250 6.750 .0500 6.700 10/01/2027
600103297 MARBARGER PETER 7.875 .250 7.625 .0500 7.575 10/01/2027
600103304 BROWN CRAIG 7.750 .250 7.500 .0500 7.450 11/01/2027
600103305 COOPER DANIEL 8.000 .250 7.750 .0500 7.700 10/01/2027
600103308 GOODSTEIN STANLEY 7.750 .250 7.500 .0500 7.450 10/01/2027
600103318 ROSEN EMANUEL 7.500 .250 7.250 .0500 7.200 11/01/2027
600103321 THOMPSON KAREN 7.250 .250 7.000 .0500 6.950 11/01/2027
600103329 BECK LELAND 7.875 .250 7.625 .0500 7.575 11/01/2027
600103336 SPENCER CHRISTOPHE 7.875 .250 7.625 .0500 7.575 11/01/2027
600103346 PUETTMANN SCOTT 7.625 .250 7.375 .0500 7.325 11/01/2027
600103352 SHAUGHNESSY THOMAS 7.750 .250 7.500 .0500 7.450 11/01/2027
600103354 LAVIGNA RONALD 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>
600103262 CUMMINGS JOHN 450860820 $1,531.86 2 01/01/1998 360
600103278 KIM SANG 450867783 $4,544.04 01/01/1998 360
600103283 ZELLMER JEFFREY 450869524 $3,310.55 01/01/1998 360
600103297 MARBARGER PETER 450873971 $3,433.68 01/01/1998 360
600103304 BROWN CRAIG 450876016 $1,644.89 01/01/1998 360
600103305 COOPER DANIEL 450876271 $3,363.05 01/01/1998 360
600103308 GOODSTEIN STANLEY 450876909 $4,656.68 01/01/1998 360
600103318 ROSEN EMANUEL 450879838 $3,807.93 01/01/1998 360
600103321 THOMPSON KAREN 450880273 $1,581.29 01/01/1998 360
600103329 BECK LELAND 450882923 $2,755.27 01/01/1998 360
600103336 SPENCER CHRISTOPHE 450884267 $1,682.17 01/01/1998 360
600103346 PUETTMANN SCOTT 450887989 $3,185.08 01/01/1998 360
600103352 SHAUGHNESSY THOMAS 450891007 $3,582.07 01/01/1998 360
600103354 LAVIGNA RONALD 450891890 $3,650.73 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103262 CUMMINGS JOHN .00 .00 .00 .000 .250 .300 $270,900.00 N
600103278 KIM SANG .00 .00 .00 .000 .250 .300 $1,200,000.00 N
600103283 ZELLMER JEFFREY .00 .00 .00 .000 .250 .300 $622,000.00 N
600103297 MARBARGER PETER .00 .00 .00 .000 .250 .300 $700,000.00 N
600103304 BROWN CRAIG .00 .00 .00 .000 .250 .300 $287,000.00 N
600103305 COOPER DANIEL .00 .00 .00 .000 .250 .300 $572,909.00 N
600103308 GOODSTEIN STANLEY .00 .00 .00 .000 .250 .300 $1,600,000.00 N
600103318 ROSEN EMANUEL .00 .00 .00 .000 .250 .300 $786,000.00 N
600103321 THOMPSON KAREN .00 .00 .00 .000 .250 .300 $350,406.00 N
600103329 BECK LELAND .00 .00 .00 .000 .250 .300 $475,000.00 N
600103336 SPENCER CHRISTOPHE .00 .00 .00 .000 .250 .300 $290,000.00 N
600103346 PUETTMANN SCOTT .00 .00 .00 .000 .250 .300 $873,001.00 N
600103352 SHAUGHNESSY THOMAS .00 .00 .00 .000 .250 .300 $630,000.00 N
600103354 LAVIGNA RONALD .00 .00 .00 .000 .250 .300 $725,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 11
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103356 MC MANUS DANIEL 608 FAIRMOUNT AVENUE CHATHAM NJ 7928 $228,724.05
600103361 HERMAN M. 14 WAYSIDE LN. LLOYD HARBO NY 11743 $495,297.58
600103365 LUCKE THOMAS 74 MIDDLE STREET LEXINGTON MA 2173 $324,750.93
600103368 ASHCRAFT JUDITH 95 PLEASANT RUN FLEMINGTON NJ 8822 $274,639.00
600103376 JENSEN SCOTT 642 NORTHWOOD DRIVE SPARKS NV 89431 $231,654.56
600103380 WILKE DIANE 2240 KISSEE COURT ANCHORAGE AK 99517 $555,212.61
600103389 WEIDEMAN PAUL 1495 HUNTERS CREEK ROAD LAPEER MI 48446 $239,684.94
600103395 CYR DANNY 4910 NW 107 AVENUE CORAL SPRIN FL 33076 $227,668.91
600103396 MUTTY PAUL 26120 HARBOUR POINTE HARRISON TW MI 48045 $259,640.95
600103862 KANG, CHANG 15070 STRATFORD MONTE SERENO CA 95030 $523,847.78
600103881 OERTER, JANE 1825 SENDA ROCO BOULDER CO 80303 $354,522.09
600103889 WOODWORTH, JAMES 30081 SADD SAN JUAN CAPIST CA 92675 $498,846.07
600103908 BIRK, THOMAS 1329 PALISADES SANTA MONICA CA 90401 $548,672.73
600103910 FISHMAN, ROBERT 430 BALLY WAY PACIFICA CA 94044 $228,331.40
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103356 MC MANUS DANIEL 7.750 .250 7.500 .0500 7.450 11/01/2027
600103361 HERMAN M. 7.750 .250 7.500 .0500 7.450 11/01/2027
600103365 LUCKE THOMAS 7.875 .250 7.625 .0500 7.575 11/01/2027
600103368 ASHCRAFT JUDITH 8.125 .250 7.875 .0500 7.825 11/01/2027
600103376 JENSEN SCOTT 7.500 .250 7.250 .0500 7.200 11/01/2027
600103380 WILKE DIANE 7.750 .250 7.500 .0500 7.450 11/01/2027
600103389 WEIDEMAN PAUL 8.125 .250 7.875 .0500 7.825 11/01/2027
600103395 CYR DANNY 7.625 .250 7.375 .0500 7.325 11/01/2027
600103396 MUTTY PAUL 7.875 .250 7.625 .0500 7.575 11/01/2027
600103862 KANG, CHANG 7.625 .250 7.375 .0500 7.325 10/01/2027
600103881 OERTER, JANE 8.000 .250 7.750 .0500 7.700 11/01/2027
600103889 WOODWORTH, JAMES 7.625 .250 7.375 .0500 7.325 10/01/2027
600103908 BIRK, THOMAS 7.125 .250 6.875 .0500 6.825 10/01/2027
600103910 FISHMAN, ROBERT 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>
600103356 MC MANUS DANIEL 450892989 $1,642.38 01/01/1998 360
600103361 HERMAN M. 450893698 $3,553.41 01/01/1998 360
600103365 LUCKE THOMAS 450894498 $2,357.93 01/01/1998 360
600103368 ASHCRAFT JUDITH 450894795 $2,041.87 2 01/01/1998 360
600103376 JENSEN SCOTT 450898069 $1,622.18 01/01/1998 360
600103380 WILKE DIANE 450900964 $3,983.26 01/01/1998 360
600103389 WEIDEMAN PAUL 450903273 $1,782.00 01/01/1998 360
600103395 CYR DANNY 450905310 $1,613.77 01/01/1998 360
600103396 MUTTY PAUL 450905781 $1,885.19 01/01/1998 360
600103862 KANG, CHANG 1113422 $3,715.92 01/01/1998 360
600103881 OERTER, JANE 1205004 $2,604.86 01/01/1998 360
600103889 WOODWORTH, JAMES 1213974 $3,538.97 01/01/1998 360
600103908 BIRK, THOMAS 1238070 $3,705.45 01/01/1998 360
600103910 FISHMAN, ROBERT 1241025 $1,758.89 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103356 MC MANUS DANIEL .00 .00 .00 .000 .250 .300 $340,000.00 N
600103361 HERMAN M. .00 .00 .00 .000 .250 .300 $620,000.00 N
600103365 LUCKE THOMAS .00 .00 .00 .000 .250 .300 $436,000.00 N
600103368 ASHCRAFT JUDITH .00 .00 .00 .000 .250 .300 $325,000.00 N
600103376 JENSEN SCOTT .00 .00 .00 .000 .250 .300 $290,000.00 N
600103380 WILKE DIANE .00 .00 .00 .000 .250 .300 $695,000.00 N
600103389 WEIDEMAN PAUL .00 .00 .00 .000 .250 .300 $300,000.00 N
600103395 CYR DANNY .00 .00 .00 .000 .250 .300 $285,000.00 N
600103396 MUTTY PAUL .00 .00 .00 .000 .250 .300 $325,000.00 N
600103862 KANG, CHANG .00 .00 .00 .000 .250 .300 $1,020,000.00 N
600103881 OERTER, JANE .00 .00 .00 .000 .250 .300 $550,000.00 N
600103889 WOODWORTH, JAMES .00 .00 .00 .000 .250 .300 $842,900.00 N
600103908 BIRK, THOMAS .00 .00 .00 .000 .250 .300 $1,022,000.00 N
600103910 FISHMAN, ROBERT .00 .00 .00 .000 .250 .300 $305,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 12
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103925 SPENCER, MICHAEL 118 CREST ROAD NOVATO CA 94945 $562,541.54
600103938 WILSON, JOHN 31524 ASPEN RID STEAMBOAT SPRIN CO 80477 $449,378.61
600103943 REIFLER, TONI 5815 LOMA VERDE RANCHO SANTA FE CA 92067 $486,860.13
600104508 MARSELLA 5929 SCRIPPS ST SAN DIEGO CA 92122 $228,998.50
600104509 SKROVAN 24956 LINCOLN ST CARMEL CA 93921 $636,208.18
600104521 BRAGER 2563 TIMBER CRK TRL OXNARD CA 93030 $233,026.81
600104538 MCADAMS 2910 WINDSOR DR ALAMEDA CA 94501 $232,418.69
600104568 BERLE 10490 WILSHIRE BLVD UNI LOS ANGELES CA 90024 $619,165.19
600104581 KING 120 21ST PL 121 21ST MANHATTAN BEACH CA 90266 $520,915.18
600105196 Neff Joe W 1861 Mott Court Camarillo CA 93010 $645,397.49
600105203 Stern Jeffrey L. 1750 Taylor Street #603 San Francisco CA 94109 $679,617.87
600105205 Mok Minsen 57 Belcourt Drive North Newport Beach CA 92660 $808,154.31
600105207 Tepfer Louis E 2401 Dwinell Way Weed CA 96094 $748,729.25
600105216 Berardi Paul J. 1023 South Pacific Street Oceanside CA 92054 $649,168.19
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103925 SPENCER, MICHAEL 8.000 .250 7.750 .0500 7.700 11/01/2027
600103938 WILSON, JOHN 7.875 .250 7.625 .0500 7.575 11/01/2027
600103943 REIFLER, TONI 8.125 .250 7.875 .0500 7.825 11/01/2027
600104508 MARSELLA 7.625 .250 7.375 .0500 7.325 10/01/2027
600104509 SKROVAN 8.000 .250 7.750 .0500 7.700 10/01/2027
600104521 BRAGER 8.000 .250 7.750 .0500 7.700 10/01/2027
600104538 MCADAMS 7.625 .250 7.375 .0500 7.325 09/01/2027
600104568 BERLE 8.000 .250 7.750 .0500 7.700 11/01/2027
600104581 KING 7.875 .250 7.625 .0500 7.575 10/01/2027
600105196 Neff Joe W 8.375 .250 8.125 .0500 8.075 02/01/2027
600105203 Stern Jeffrey L. 8.625 .250 8.375 .0500 8.325 06/01/2027
600105205 Mok Minsen 8.375 .250 8.125 .0500 8.075 07/01/2027
600105207 Tepfer Louis E 8.875 .250 8.625 .0500 8.575 10/01/2027
600105216 Berardi Paul J. 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>
600103925 SPENCER, MICHAEL 1245398 $4,133.30 01/01/1998 360
600103938 WILSON, JOHN 1250851 $3,262.81 01/01/1998 360
600103943 REIFLER, TONI 1255850 $3,619.67 01/01/1998 360
600104508 MARSELLA 9199540429 $1,624.39 1 01/01/1998 360
600104509 SKROVAN 9199582843 $4,677.75 01/01/1998 360
600104521 BRAGER 9199698276 $1,713.35 2 01/01/1998 360
600104538 MCADAMS 9199812547 $1,649.87 12 01/01/1998 360
600104568 BERLE 9199942906 $4,549.35 01/01/1998 360
600104581 KING 9199964090 $3,784.87 01/01/1998 360
600105196 Neff Joe W 225455 $4,940.47 01/01/1998 360
600105203 Stern Jeffrey L. 239869 $5,308.41 01/01/1998 360
600105205 Mok Minsen 245496 $6,213.59 01/01/1998 360
600105207 Tepfer Louis E 253794 $5,967.34 01/01/1998 360
600105216 Berardi Paul J. 263471 $4,883.23 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103925 SPENCER, MICHAEL .00 .00 .00 .000 .250 .300 $775,000.00 N
600103938 WILSON, JOHN .00 .00 .00 .000 .250 .300 $850,000.00 N
600103943 REIFLER, TONI .00 .00 .00 .000 .250 .300 $650,000.00 N
600104508 MARSELLA .00 .00 .00 .000 .250 .300 $255,000.00 N
600104509 SKROVAN .00 .00 .00 .000 .250 .300 $850,000.00 N
600104521 BRAGER .00 .00 .00 .000 .250 .300 $265,000.00 N
600104538 MCADAMS .00 .00 .00 .000 .250 .300 $259,000.00 N
600104568 BERLE .00 .00 .00 .000 .250 .300 $935,000.00 N
600104581 KING .00 .00 .00 .000 .250 .300 $785,000.00 N
600105196 Neff Joe W .00 .00 .00 .000 .250 .300 $825,000.00 N
600105203 Stern Jeffrey L. .00 .00 .00 .000 .250 .300 $910,000.00 N
600105205 Mok Minsen $1,090,000.00 N
600105207 Tepfer Louis E .00 .00 .00 .000 .250 .300 $1,000,000.00 N
600105216 Berardi Paul J. .00 .00 .00 .000 .250 .300 $940,041.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 13
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105218 Marwah Vishwa 90 Lopez Avenue San Francisco CA 94116 $613,845.22
600105228 Fillippov Vladimir 994 Sheldon Ave. Staten Island NY 10309 $232,231.49
600105229 Musick Gregory J. 400 Buttonwood Lane Safety Harbor FL 34695 $485,903.71
600105232 Eittreim Dennis S 25581 Saddle Rock Place Laguna Hills CA 92653 $635,435.31
600105234 Parks Mary Warne 32430 Cole Grade Road Valley Center CA 92082 $554,929.05
600105235 Tollman Ivan J. 2731 Casiano Road Los Angeles CA 90077 $523,908.97
600105236 Zicklin Stanley 3503 Via Del Prado Calabasas CA 91302 $498,703.92
600105237 Harkins Paul 57 Tower Hill Road Tuxedo Park NY 10987 $641,262.42
600105239 Materdomini Daniel 2780 Santa Maria Road Topanga Area CA 90290 $658,662.58
600105244 Marcelo Edmund 5976 S. W. First Court Cape Coral FL 33914 $568,956.71
600105252 Silagi Moshe 15936 Valley Meadow Place Encino Area CA 91436 $853,848.80
600105254 Holland Charles W. 3 South Circle Drive Santa Cruz CA 95060 $524,014.20
600105269 Williamson Joni Lynn 47 San Pablo Avenue Half Moon Bay CA 94019 $524,275.03
600105271 Aghaian Hovik 900 Whitehaven Terrace Glendale CA 91207 $629,130.03
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105218 Marwah Vishwa 8.375 .250 8.125 .0500 8.075 10/01/2027
600105228 Fillippov Vladimir 8.750 .250 8.500 .0500 8.450 12/01/2027
600105229 Musick Gregory J. 8.750 .250 8.500 .0500 8.450 10/01/2027
600105232 Eittreim Dennis S 8.125 .250 7.875 .0500 7.825 10/01/2027
600105234 Parks Mary Warne 8.250 .250 8.000 .0500 7.950 10/01/2027
600105235 Tollman Ivan J. 7.875 .250 7.625 .0500 7.575 10/01/2027
600105236 Zicklin Stanley 7.500 .250 7.250 .0500 7.200 10/01/2027
600105237 Harkins Paul 8.250 .250 8.000 .0500 7.950 10/01/2027
600105239 Materdomini Daniel 8.000 .250 7.750 .0500 7.700 10/01/2027
600105244 Marcelo Edmund 8.500 .250 8.250 .0500 8.200 10/01/2027
600105252 Silagi Moshe 8.000 .250 7.750 .0500 7.700 11/01/2027
600105254 Holland Charles W. 8.375 .250 8.125 .0500 8.075 10/01/2027
600105269 Williamson Joni Lynn 7.875 .250 7.625 .0500 7.575 11/01/2027
600105271 Aghaian Hovik 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>
600105218 Marwah Vishwa 264080 $4,674.44 01/01/1998 360
600105228 Fillippov Vladimir 267286 $1,829.08 01/01/1998 360
600105229 Musick Gregory J. 267769 $3,829.27 01/01/1998 360
600105232 Eittreim Dennis S 268851 $4,733.42 01/01/1998 360
600105234 Parks Mary Warne 269443 $4,177.04 01/01/1998 360
600105235 Tollman Ivan J. 269506 $3,806.61 01/01/1998 360
600105236 Zicklin Stanley 269919 $3,496.07 01/01/1998 360
600105237 Harkins Paul 270070 $4,826.89 01/01/1998 360
600105239 Materdomini Daniel 270374 $4,842.85 01/01/1998 360
600105244 Marcelo Edmund 270730 $4,382.81 01/01/1998 360
600105252 Silagi Moshe 272352 $6,273.69 01/01/1998 360
600105254 Holland Charles W. 272724 $3,990.38 01/01/1998 360
600105269 Williamson Joni Lynn 274298 $3,806.61 01/01/1998 360
600105271 Aghaian Hovik 274372 $4,567.94 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600105218 Marwah Vishwa .00 .00 .00 .000 .250 .300 $780,000.00 N
600105228 Fillippov Vladimir .00 .00 .00 .000 .250 .300 $310,000.00 N
600105229 Musick Gregory J. .00 .00 .00 .000 .250 .300 $649,000.00 N
600105232 Eittreim Dennis S .00 .00 .00 .000 .250 .300 $900,000.00 N
600105234 Parks Mary Warne .00 .00 .00 .000 .250 .300 $695,000.00 N
600105235 Tollman Ivan J. .00 .00 .00 .000 .250 .300 $700,000.00 N
600105236 Zicklin Stanley .00 .00 .00 .000 .250 .300 $652,500.00 N
600105237 Harkins Paul .00 .00 .00 .000 .250 .300 $990,000.00 N
600105239 Materdomini Daniel .00 .00 .00 .000 .250 .300 $825,000.00 N
600105244 Marcelo Edmund .00 .00 .00 .000 .250 .300 $925,000.00 N
600105252 Silagi Moshe .00 .00 .00 .000 .250 .300 $1,750,000.00 N
600105254 Holland Charles W. .00 .00 .00 .000 .250 .300 $700,000.00 N
600105269 Williamson Joni Lynn .00 .00 .00 .000 .250 .300 $800,000.00 N
600105271 Aghaian Hovik .00 .00 .00 .000 .250 .300 $800,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 14
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105276 Raduziner David 936 Scott Street Palo Alto CA 94301 $539,215.84
600105281 Cananea Zacarias 250 Rebecca Drive San Dimas CA 91773 $611,175.98
600105282 Lam Hung Jim 1349 Murchison Drive Millbrae CA 94030 $499,012.12
600105283 Pang Savio 1 Keahole Place, #1612 Honolulu HI 96825 $273,433.86
600105284 Lamont David Xavi 4974 Middleton Place Pleasanton CA 95466 $547,243.27
600105285 Corpuz Deanna L 16100 Viewfield Avenue Monte Sereno CA 95030 $558,289.41
600105292 Farrer William 339 Forbes Ave San Rafael CA 94901 $497,646.61
600105293 Sprague Todd P. 58127 Winners Circle Sunriver OR 97707 $367,225.42
600105294 Blumenthal Ross 25282 El Dorado Meadow Rd Calabasas CA 91302 $797,847.22
600105298 Mercatanti Debra 996 Barnegat Lane Mantoloking NJ 08738 $629,222.49
600105301 Zweng Sarah P. 109 Millrich Drive Los Gatos CA 98030 $486,809.64
600105302 Bray, Jr. Robert S. 120 13th Street Manhattan Beach CA 90266 $858,954.33
600105306 Lowder James 77 Castlewood Drive Pleasanton CA 94566 $543,017.89
600105310 Alvarez Linda L. 531 Radcliff Avenue Pacific Palisad CA 90272 $629,130.02
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105276 Raduziner David 7.625 .250 7.375 .0500 7.325 11/01/2027
600105281 Cananea Zacarias 8.000 .250 7.750 .0500 7.700 11/01/2027
600105282 Lam Hung Jim 8.125 .250 7.875 .0500 7.825 10/01/2027
600105283 Pang Savio 8.750 .250 8.500 .0500 8.450 11/01/2027
600105284 Lamont David Xavi 7.875 .250 7.625 .0500 7.575 11/01/2027
600105285 Corpuz Deanna L 8.750 .250 8.500 .0500 8.450 10/01/2027
600105292 Farrer William 8.000 .250 7.750 .0500 7.700 09/01/2027
600105293 Sprague Todd P. 8.750 .250 8.500 .0500 8.450 11/01/2027
600105294 Blumenthal Ross 8.250 .250 8.000 .0500 7.950 09/01/2027
600105298 Mercatanti Debra 8.750 .250 8.500 .0500 8.450 11/01/2027
600105301 Zweng Sarah P. 7.750 .250 7.500 .0500 7.450 11/01/2027
600105302 Bray, Jr. Robert S. 8.500 .250 8.250 .0500 8.200 11/01/2027
600105306 Lowder James 8.000 .250 7.750 .0500 7.700 11/01/2027
600105310 Alvarez Linda L. 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>
600105276 Raduziner David 274723 $3,822.09 01/01/1998 360
600105281 Cananea Zacarias 275726 $4,490.64 01/01/1998 360
600105282 Lam Hung Jim 275839 $3,712.49 01/01/1998 360
600105283 Pang Savio 275978 $2,153.59 01/01/1998 360
600105284 Lamont David Xavi 275992 $3,973.38 01/01/1998 360
600105285 Corpuz Deanna L 276057 $4,405.53 01/01/1998 360
600105292 Farrer William 276791 $3,668.82 01/01/1998 360
600105293 Sprague Todd P. 276792 $2,892.30 7 01/01/1998 360
600105294 Blumenthal Ross 276804 $6,010.13 01/01/1998 360
600105298 Mercatanti Debra 277197 $4,955.82 01/01/1998 360
600105301 Zweng Sarah P. 277634 $3,492.51 01/01/1998 360
600105302 Bray, Jr. Robert S. 277636 $6,612.66 01/01/1998 360
600105306 Lowder James 277768 $3,989.84 01/01/1998 360
600105310 Alvarez Linda L. 278047 $4,567.94 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600105276 Raduziner David .00 .00 .00 .000 .250 .300 $810,000.00 N
600105281 Cananea Zacarias .00 .00 .00 .000 .250 .300 $765,000.00 N
600105282 Lam Hung Jim .00 .00 .00 .000 .250 .300 $635,000.00 N
600105283 Pang Savio .00 .00 .00 .000 .250 .300 $365,000.00 N
600105284 Lamont David Xavi .00 .00 .00 .000 .250 .300 $685,000.00 N
600105285 Corpuz Deanna L .00 .00 .00 .000 .250 .300 $800,000.00 N
600105292 Farrer William .00 .00 .00 .000 .250 .300 $625,000.00 N
600105293 Sprague Todd P. .00 .00 .00 .000 .250 .300 $387,000.00 N
600105294 Blumenthal Ross .00 .00 .00 .000 .250 .300 $1,200,000.00 N
600105298 Mercatanti Debra .00 .00 .00 .000 .250 .300 $900,000.00 N
600105301 Zweng Sarah P. .00 .00 .00 .000 .250 .300 $750,000.00 N
600105302 Bray, Jr. Robert S. .00 .00 .00 .000 .250 .300 $1,075,000.00 N
600105306 Lowder James .00 .00 .00 .000 .250 .300 $725,000.00 N
600105310 Alvarez Linda L. .00 .00 .00 .000 .250 .300 $1,050,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 15
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105312 Harris John 504 Dianthus St Manhattan Beach CA 90266 $620,854.60
600105313 Stanford Brian T. 2349 N. Catalina Street Los Angeles CA 90027 $715,011.27
600105314 Deneau Alea 1113 East John Street Seattle WA 98102 $282,423.45
600105336 Johnson Curtis 212 Wall Street Ketchum ID 83340 $599,170.87
600105345 Edwards Keith 8929 St. Ives Drive Los Angeles CA 90069 $621,805.98
600105351 Hamilton Kevin T. 2030 Hatch Road Novato CA 94947 $696,673.42
600105352 Pertl John J. 1455 Se Hickory Place Gresham OR 97080 $231,196.09
600105353 Munoz Manuel 1779 Rex Street San Mateo CA 94403 $228,820.60
600105355 Bacchini John Louis 1120 Cambridge Road Burlingame CA 94010 $449,346.55
600105356 Moeglein Carolyn W 635 Fontes Drive Fremont CA 94539 $471,348.21
600105363 STYLES 1705 GOODMAN RD KISSIMMEE FL 34747 $229,947.74
600105390 SHANE 1 CROFTDALE ROAD NEWTON MA 02159 $609,219.37
600105392 MCCARTHY 19 BACHER CIRCLE MARLBORO MA 01752 $243,575.77
600105394 SWEDERS 2951 BETH LANE NAPERVILLE IL 60564 $374,402.19
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105312 Harris John 8.125 .250 7.875 .0500 7.825 09/01/2027
600105313 Stanford Brian T. 7.875 .250 7.625 .0500 7.575 11/01/2027
600105314 Deneau Alea 8.750 .250 8.500 .0500 8.450 11/01/2027
600105336 Johnson Curtis 7.875 .250 7.625 .0500 7.575 11/01/2027
600105345 Edwards Keith 7.875 .250 7.625 .0500 7.575 11/01/2027
600105351 Hamilton Kevin T. 8.625 .250 8.375 .0500 8.325 11/01/2027
600105352 Pertl John J. 8.125 .250 7.875 .0500 7.825 11/01/2027
600105353 Munoz Manuel 8.250 .250 8.000 .0500 7.950 11/01/2027
600105355 Bacchini John Louis 7.625 .250 7.375 .0500 7.325 11/01/2027
600105356 Moeglein Carolyn W 7.875 .250 7.625 .0500 7.575 11/01/2027
600105363 STYLES 8.125 .250 7.875 .0500 7.825 11/01/2027
600105390 SHANE 8.250 .250 8.000 .0500 7.950 11/01/2027
600105392 MCCARTHY 8.750 .250 8.500 .0500 8.450 10/01/2027
600105394 SWEDERS 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>
600105312 Harris John 278275 $4,622.04 01/01/1998 360
600105313 Stanford Brian T. 278366 $5,191.50 01/01/1998 360
600105314 Deneau Alea 278466 $2,224.40 01/01/1998 360
600105336 Johnson Curtis 280956 $4,350.42 01/01/1998 360
600105345 Edwards Keith 281629 $4,548.00 01/01/1998 360
600105351 Hamilton Kevin T. 282569 $5,425.09 01/01/1998 360
600105352 Pertl John J. 282577 $1,718.89 01/01/1998 360
600105353 Munoz Manuel 282689 $1,721.90 01/01/1998 360
600105355 Bacchini John Louis 283137 $3,185.07 01/01/1998 360
600105356 Moeglein Carolyn W 283141 $3,422.33 01/01/1998 360
600105363 STYLES 0919075 $1,709.60 01/01/1998 360
600105390 SHANE 0946212 $4,582.73 01/01/1998 360
600105392 MCCARTHY 0946514 $1,919.55 01/01/1998 360
600105394 SWEDERS 0947067 $2,950.13 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600105312 Harris John .00 .00 .00 .000 .250 .300 $850,000.00 N
600105313 Stanford Brian T. .00 .00 .00 .000 .250 .300 $895,000.00 N
600105314 Deneau Alea .00 .00 .00 .000 .250 .300 $377,000.00 N
600105336 Johnson Curtis .00 .00 .00 .000 .250 .300 $1,035,000.00 N
600105345 Edwards Keith .00 .00 .00 .000 .250 .300 $965,000.00 N
600105351 Hamilton Kevin T. .00 .00 .00 .000 .250 .300 $930,000.00 N
600105352 Pertl John J. .00 .00 .00 .000 .250 .300 $289,400.00 N
600105353 Munoz Manuel .00 .00 .00 .000 .250 .300 $286,500.00 N
600105355 Bacchini John Louis .00 .00 .00 .000 .250 .300 $600,000.00 N
600105356 Moeglein Carolyn W .00 .00 .00 .000 .250 .300 $590,000.00 N
600105363 STYLES .00 .00 .00 .000 .250 .300 $307,000.00 N
600105390 SHANE .00 .00 .00 .000 .250 .300 $1,200,000.00 N
600105392 MCCARTHY .00 .00 .00 .000 .250 .300 $305,990.00 N
600105394 SWEDERS .00 .00 .00 .000 .250 .300 $500,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 16
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105474 PETERSON 1941 E SUTTON COMMON SALT LAKE CITY UT 84121 $378,289.48
600106235 ORTIZ 5722 DOE CIRCLE WESTMONT IL 60559 $232,867.01
600106245 LOFTIS 120 POPLAR TRAIL GRAND HAVEN MI 49417 $551,275.40
600106276 THOMPSON 1202 FORREST DRIVE PORTAGE MI 49002 $231,671.45
600106284 LLORENTE 4542 KRAFT AVENUE LOS ANGELES CA 91602 $227,492.19
600106305 WINN,DAVID 1731 MOSSBROOK AVE SAN JOSE CA 95130 $229,698.06
600107359 KELLY RICHARD L 13827 LAUREL ROCK COUR CLIFTON VA 20124 $277,935.57
600107373 WICELINSKI PAUL 20926 30TH AVE BAYSIDE NY 11361 $249,558.20
600107374 SCHWARTZBERG BRAD 28 WENWOOD DR BROOKVILLE NY 11545 $599,106.64
600107377 MOORE II HARRY 3818 RIVER HOLLOW CT OVIEDO FL 32765 $308,240.36
600107382 LEBOW DAVID A 7 ROUND POND ROAD WESTPORT CT 06880 $599,106.64
600107389 DE LOS 446 RUGBY RD BROOKLYN NY 11226 $261,927.32
600107391 PAVLETICH NIKOLA 330 EAST 75TH STREET NEW YORK NY 10022 $598,784.16
600107395 LAING JOHN 1065 LEXINGTON AVENUE NEW YORK NY 10021 $499,535.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105474 PETERSON 8.500 .250 8.250 .0500 8.200 11/01/2027
600106235 ORTIZ 8.000 .250 7.750 .0500 7.700 09/01/2027
600106245 LOFTIS 8.125 .250 7.875 .0500 7.825 11/01/2027
600106276 THOMPSON 7.750 .250 7.500 .0500 7.450 11/01/2027
600106284 LLORENTE 8.125 .250 7.875 .0500 7.825 11/01/2027
600106305 WINN,DAVID 8.125 .250 7.875 .0500 7.825 11/01/2027
600107359 KELLY RICHARD L 7.500 .250 7.250 .0400 7.210 11/01/2027
600107373 WICELINSKI PAUL 7.125 .250 6.875 .0400 6.835 11/01/2027
600107374 SCHWARTZBERG BRAD 7.500 .250 7.250 .0400 7.210 11/01/2027
600107377 MOORE II HARRY 7.500 .250 7.250 .0400 7.210 11/01/2027
600107382 LEBOW DAVID A 7.500 .250 7.250 .0400 7.210 11/01/2027
600107389 DE LOS 8.125 .250 7.875 .0400 7.835 10/01/2027
600107391 PAVLETICH NIKOLA 8.000 .250 7.750 .0400 7.710 10/01/2027
600107395 LAING JOHN 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>
600105474 PETERSON 7150488 $2,912.26 01/01/1998 360
600106235 ORTIZ 938164 $1,713.34 12 01/01/1998 360
600106245 LOFTIS 948578 $4,098.58 01/01/1998 360
600106276 THOMPSON 956723 $1,662.08 01/01/1998 360
600106284 LLORENTE 6216169 $1,692.90 01/01/1998 360
600106305 WINN,DAVID 9159805036 $1,707.75 01/01/1998 360
600107359 KELLY RICHARD L 1761108855 $1,946.26 3 01/01/1998 360
600107373 WICELINSKI PAUL 1111131683 $1,684.30 01/01/1998 360
600107374 SCHWARTZBERG BRAD 1111135549 $4,195.29 01/01/1998 360
600107377 MOORE II HARRY 1331165900 $2,158.48 3 01/01/1998 360
600107382 LEBOW DAVID A 1580065199 $4,195.29 01/01/1998 360
600107389 DE LOS 1111117106 $1,949.06 01/01/1998 360
600107391 PAVLETICH NIKOLA 1106080889 $4,402.59 01/01/1998 360
600107395 LAING JOHN 1106071403 $3,760.09 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600105474 PETERSON .00 .00 .00 .000 .250 .300 $505,000.00 N
600106235 ORTIZ .00 .00 .00 .000 .250 .300 $275,000.00 N
600106245 LOFTIS .00 .00 .00 .000 .250 .300 $690,000.00 N
600106276 THOMPSON .00 .00 .00 .000 .250 .300 $290,000.00 N
600106284 LLORENTE .00 .00 .00 .000 .250 .300 $285,000.00 N
600106305 WINN,DAVID .00 .00 .00 .000 .250 .300 $350,000.00 N
600107359 KELLY RICHARD L .00 .00 .00 .000 .250 .290 $293,000.00 N
600107373 WICELINSKI PAUL .00 .00 .00 .000 .250 .290 $378,000.00 N
600107374 SCHWARTZBERG BRAD .00 .00 .00 .000 .250 .290 $780,000.00 N
600107377 MOORE II HARRY .00 .00 .00 .000 .250 .290 $350,000.00 N
600107382 LEBOW DAVID A .00 .00 .00 .000 .250 .290 $755,000.00 N
600107389 DE LOS .00 .00 .00 .000 .250 .290 $350,000.00 N
600107391 PAVLETICH NIKOLA .00 .00 .00 .000 .250 .290 $750,000.00 N
600107395 LAING JOHN .00 .00 .00 .000 .250 .290 $715,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 17
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107396 MAURO KEVIN 428 UNION VALLEY ROA MAHOPAC NY 10541 $230,519.91
600107405 GILLETTE KATHY 902 WEST OCEAN VIEW NORFOLK VA 23503 $248,816.25
600107417 BUEHNER SCOTT R 4040 LEIGHTON POINT R CALABASAS CA 91301 $457,784.27
600107419 LYNCH KELLEY 2648 MANDEVILLE CYN R LOS ANGELES CA 90049 $594,954.69
600107422 KLINGSHIRN JAMES A 54 LOMA MEDIA ROAD SANTA BARBARA CA 93103 $469,264.49
600107430 ROSEBERRY JOHN R 113 CHERRINGTON DRIV CRANBERRY TOWNS PA 16066 $227,660.52
600107439 MONTGOMERY ROBERT GARY 5631 EAST EL JARDIN S LONG BEACH CA 90815 $523,257.93
600107454 HIRSCHFELD BRUCE J 2141 REDBIRD DRIVE LAS VEGAS NV 89134 $548,152.86
600107455 BREIDBORD JEFFREY A 3 CASTLE HARBOR IS FT LAUDERDALE FL 33308 $299,585.73
600107459 THIELEN BART E 1235 SUNSET HILLS BOU THOUSAND OAKS CA 91360 $536,738.81
600107461 ZAMANIAN M S 24 SANTA MONICA WAY SAN FRANCISCO CA 94127 $499,291.94
600107472 OLIGER BRIAN C 4106 SW FINDLAY SEATTLE WA 98136 $277,616.11
600107473 BECKNELL JEFFERY W 7680 N VILLAGE ROAD PARKER CO 80134 $464,341.49
600107474 STEWART WILLIAM C 7221 NE 162ND STREET BOTHELL WA 98011 $279,561.84
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107396 MAURO KEVIN 7.875 .250 7.625 .0400 7.585 10/01/2027
600107405 GILLETTE KATHY 9.000 .250 8.750 .0400 8.710 07/01/2027
600107417 BUEHNER SCOTT R 7.625 .250 7.375 .0400 7.335 11/01/2027
600107419 LYNCH KELLEY 7.750 .250 7.500 .0400 7.460 11/01/2027
600107422 KLINGSHIRN JAMES A 7.250 .250 7.000 .0400 6.960 11/01/2027
600107430 ROSEBERRY JOHN R 7.500 .250 7.250 .0400 7.210 11/01/2027
600107439 MONTGOMERY ROBERT GARY 7.750 .250 7.500 .0400 7.460 11/01/2027
600107454 HIRSCHFELD BRUCE J 7.625 .250 7.375 .0400 7.335 11/01/2027
600107455 BREIDBORD JEFFREY A 7.875 .250 7.625 .0400 7.585 11/01/2027
600107459 THIELEN BART E 7.750 .250 7.500 .0400 7.460 11/01/2027
600107461 ZAMANIAN M S 7.750 .250 7.500 .0400 7.460 11/01/2027
600107472 OLIGER BRIAN C 7.875 .250 7.625 .0400 7.585 11/01/2027
600107473 BECKNELL JEFFERY W 7.750 .250 7.500 .0400 7.460 11/01/2027
600107474 STEWART WILLIAM C 7.250 .250 7.000 .0400 6.960 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>
600107396 MAURO KEVIN 1106081291 $1,674.92 3 01/01/1998 360
600107405 GILLETTE KATHY 1507270286 $2,008.75 01/01/1998 360
600107417 BUEHNER SCOTT R 1553004384 $3,244.88 01/01/1998 360
600107419 LYNCH KELLEY 1230006782 $4,269.82 01/01/1998 360
600107422 KLINGSHIRN JAMES A 1484007793 $3,206.23 01/01/1998 360
600107430 ROSEBERRY JOHN R 1566112018 $1,594.21 1 01/01/1998 360
600107439 MONTGOMERY ROBERT GARY 1595060246 $3,754.01 01/01/1998 360
600107454 HIRSCHFELD BRUCE J 1251154960 $3,885.43 01/01/1998 360
600107455 BREIDBORD JEFFREY A 1301123321 $2,175.21 01/01/1998 360
600107459 THIELEN BART E 1482015145 $3,850.72 01/01/1998 360
600107461 ZAMANIAN M S 1494000815 $3,582.06 01/01/1998 360
600107472 OLIGER BRIAN C 1513202112 $2,015.69 01/01/1998 360
600107473 BECKNELL JEFFERY W 1513202860 $3,331.32 01/01/1998 360
600107474 STEWART WILLIAM C 1513203953 $1,910.09 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107396 MAURO KEVIN .00 .00 .00 .000 .250 .290 $271,000.00 N
600107405 GILLETTE KATHY .00 .00 .00 .000 .250 .290 $332,000.00 N
600107417 BUEHNER SCOTT R .00 .00 .00 .000 .250 .290 $573,067.00 N
600107419 LYNCH KELLEY .00 .00 .00 .000 .250 .290 $745,000.00 N
600107422 KLINGSHIRN JAMES A .00 .00 .00 .000 .250 .290 $587,500.00 N
600107430 ROSEBERRY JOHN R .00 .00 .00 .000 .250 .290 $254,000.00 N
600107439 MONTGOMERY ROBERT GARY .00 .00 .00 .000 .250 .290 $655,000.00 N
600107454 HIRSCHFELD BRUCE J .00 .00 .00 .000 .250 .290 $810,000.00 N
600107455 BREIDBORD JEFFREY A .00 .00 .00 .000 .250 .290 $610,000.00 N
600107459 THIELEN BART E .00 .00 .00 .000 .250 .290 $672,000.00 N
600107461 ZAMANIAN M S .00 .00 .00 .000 .250 .290 $625,000.00 N
600107472 OLIGER BRIAN C .00 .00 .00 .000 .250 .290 $380,000.00 N
600107473 BECKNELL JEFFERY W .00 .00 .00 .000 .250 .290 $620,000.00 N
600107474 STEWART WILLIAM C .00 .00 .00 .000 .250 .290 $350,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 18
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107479 SCHRADER JONATHAN C 14 W CENTRAL AVENUE LOS GATOS CA 95032 $483,314.58
600107483 BOICH MICHAEL D 300 STANFORD AVENUE MENLO PARK CA 94025 $649,079.51
600107486 CHAN KAYMAN 537 PASEO REFUGIO MILPITAS CA 95035 $468,136.10
600107489 BIRDWELL DAVID J 15001 WILSON ROAD OKLAHOMA CITY OK 73013 $511,274.94
600107498 KIMBLE DEBORAH 16200 DORILEE LANE ENC LOS ANGELES CA 91436 $469,334.41
600107514 BARTLETT JOHN L 616 17TH STREET MANHATTAN BEACH CA 90266 $609,091.75
600107516 FONG DONALD S 7843 WEST 79TH STREET LOS ANGELES CA 90293 $541,592.40
600107524 WELSH III FREDERIC 217 PRINCESS STREET ALEXANDRIA VA 22314 $244,416.91
600107526 URBAN STANLEY T 191 PUGH RD WAYNE PA 19087 $541,308.53
600107527 BLAIR IAN 134 ANTON RD WYNNEWOOD PA 19096 $543,210.03
600107529 GREER ARTHUR C 13098 E KALIL DR SCOTTSDALE AZ 85259 $268,000.38
600107530 GRANIEZ JOHN A 272 SOUTH IRVING BLV LOS ANGELES CA 90004 $494,244.38
600107531 ONEIL WILLIAM S 607 EL MEDIO AVE PACIFIC PALISAD CA 90272 $485,525.94
600107550 OWENS MICHAEL C 5426 POINT LONGSTREET BURKE VA 22015 $231,627.84
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107479 SCHRADER JONATHAN C 7.750 .250 7.500 .0400 7.460 11/01/2027
600107483 BOICH MICHAEL D 7.750 .250 7.500 .0400 7.460 11/01/2027
600107486 CHAN KAYMAN 7.750 .250 7.500 .0400 7.460 11/01/2027
600107489 BIRDWELL DAVID J 7.750 .250 7.500 .0400 7.460 11/01/2027
600107498 KIMBLE DEBORAH 7.750 .250 7.500 .0400 7.460 11/01/2027
600107514 BARTLETT JOHN L 7.500 .250 7.250 .0400 7.210 11/01/2027
600107516 FONG DONALD S 7.500 .250 7.250 .0400 7.210 11/01/2027
600107524 WELSH III FREDERIC 7.250 .250 7.000 .0400 6.960 11/01/2027
600107526 URBAN STANLEY T 7.000 .250 6.750 .0400 6.710 11/01/2027
600107527 BLAIR IAN 7.625 .250 7.375 .0400 7.335 11/01/2027
600107529 GREER ARTHUR C 7.500 .250 7.250 .0400 7.210 11/01/2027
600107530 GRANIEZ JOHN A 7.375 .250 7.125 .0400 7.085 11/01/2027
600107531 ONEIL WILLIAM S 7.500 .250 7.250 .0400 7.210 11/01/2027
600107550 OWENS MICHAEL C 7.125 .250 6.875 .0400 6.835 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>
600107479 SCHRADER JONATHAN C 1561373080 $3,467.44 01/01/1998 360
600107483 BOICH MICHAEL D 1561375654 $4,656.68 01/01/1998 360
600107486 CHAN KAYMAN 1561375869 $3,358.55 01/01/1998 360
600107489 BIRDWELL DAVID J 1563172206 $3,668.03 01/01/1998 360
600107498 KIMBLE DEBORAH 1567207947 $3,367.14 01/01/1998 360
600107514 BARTLETT JOHN L 1596048177 $4,265.21 01/01/1998 360
600107516 FONG DONALD S 1596048869 $3,792.54 01/01/1998 360
600107524 WELSH III FREDERIC 1761112750 $1,669.97 01/01/1998 360
600107526 URBAN STANLEY T 1171170468 $3,607.27 01/01/1998 360
600107527 BLAIR IAN 1175046766 $3,850.40 01/01/1998 360
600107529 GREER ARTHUR C 1203016728 $1,876.69 01/01/1998 360
600107530 GRANIEZ JOHN A 1230014940 $3,418.84 01/01/1998 360
600107531 ONEIL WILLIAM S 1230015014 $3,399.93 01/01/1998 360
600107550 OWENS MICHAEL C 1507336169 $1,563.03 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107479 SCHRADER JONATHAN C .00 .00 .00 .000 .250 .290 $605,000.00 N
600107483 BOICH MICHAEL D .00 .00 .00 .000 .250 .290 $1,110,000.00 N
600107486 CHAN KAYMAN .00 .00 .00 .000 .250 .290 $586,000.00 N
600107489 BIRDWELL DAVID J .00 .00 .00 .000 .250 .290 $640,000.00 N
600107498 KIMBLE DEBORAH .00 .00 .00 .000 .250 .290 $665,000.00 N
600107514 BARTLETT JOHN L .00 .00 .00 .000 .250 .290 $810,000.00 N
600107516 FONG DONALD S .00 .00 .00 .000 .250 .290 $678,000.00 N
600107524 WELSH III FREDERIC .00 .00 .00 .000 .250 .290 $306,000.00 N
600107526 URBAN STANLEY T .00 .00 .00 .000 .250 .290 $685,000.00 N
600107527 BLAIR IAN .00 .00 .00 .000 .250 .290 $680,000.00 N
600107529 GREER ARTHUR C .00 .00 .00 .000 .250 .290 $345,000.00 N
600107530 GRANIEZ JOHN A .00 .00 .00 .000 .250 .290 $720,000.00 N
600107531 ONEIL WILLIAM S .00 .00 .00 .000 .250 .290 $700,000.00 N
600107550 OWENS MICHAEL C .00 .00 .00 .000 .250 .290 $290,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 19
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107552 SANWICK JR PAUL 9280 JAYNE LEWIS COVE MEMPHIS TN 38133 $496,471.86
600107569 KIMBROUGH DENA 3850 EAST PLACITA DEL TUCSON AZ 85718 $460,613.15
600107574 RAFIEE NASSER U 39 ABBOT STREET ANDOVER MA 01810 $436,165.69
600107581 GROSSMAN SETH 501 SW ATLANTIC DR LANTANA FL 33462 $495,279.74
600107589 MERSHIMER P LOREEN 1316 ELMWOOD AVENUE WILMETTE IL 60091 $424,029.83
600107595 SANDMAN JEFFREY M 5006 TILDEN ST NW WASHINGTON DC 20016 $629,061.98
600107601 MCCARTY PHILLIP 23989 DEVONSHIRE NOVI MI 48374 $279,432.58
600107608 BUE MARK R 9065 NEWMONT DRIVE SAN DIEGO CA 92129 $232,154.21
600107609 ZIEGLER DEAN W 2702 WEST WOODFIELD D MEQUON WI 53092 $279,418.10
600107617 HEBRON LOUISE 10845 SPLIT RAIL DR MANASSAS VA 20112 $229,046.58
600107623 MCGREE RHONDA D 7218 DOVE CT PARKER CO 80134 $237,193.45
600107627 DENEEN LAWRENCE 15135 WOLF ROAD GRASS VALLEY CA 95949 $646,189.30
600107629 ADDY DAVID 1991 SILVERBELL ROAD GOODISON MI 48306 $773,507.21
600107648 SOLDNER JOHN K 10500 MILLER ROAD OAKTON VA 22124 $438,387.34
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107552 SANWICK JR PAUL 7.250 .250 7.000 .0400 6.960 11/01/2027
600107569 KIMBROUGH DENA 7.500 .250 7.250 .0400 7.210 11/01/2027
600107574 RAFIEE NASSER U 7.625 .250 7.375 .0400 7.335 11/01/2027
600107581 GROSSMAN SETH 7.625 .250 7.375 .0400 7.335 11/01/2027
600107589 MERSHIMER P LOREEN 7.625 .250 7.375 .0400 7.335 11/01/2027
600107595 SANDMAN JEFFREY M 7.500 .250 7.250 .0400 7.210 11/01/2027
600107601 MCCARTY PHILLIP 8.000 .250 7.750 .0400 7.710 10/01/2027
600107608 BUE MARK R 7.750 .250 7.500 .0400 7.460 10/01/2027
600107609 ZIEGLER DEAN W 7.875 .250 7.625 .0400 7.585 10/01/2027
600107617 HEBRON LOUISE 8.125 .250 7.875 .0400 7.835 10/01/2027
600107623 MCGREE RHONDA D 7.750 .250 7.500 .0400 7.460 10/01/2027
600107627 DENEEN LAWRENCE 7.875 .250 7.625 .0400 7.585 10/01/2027
600107629 ADDY DAVID 8.250 .250 8.000 .0400 7.960 10/01/2027
600107648 SOLDNER JOHN K 7.625 .250 7.375 .0400 7.335 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>
600107552 SANWICK JR PAUL 1511195515 $3,392.12 12 01/01/1998 360
600107569 KIMBROUGH DENA 1569183668 $3,225.48 01/01/1998 360
600107574 RAFIEE NASSER U 1580065723 $3,091.65 01/01/1998 360
600107581 GROSSMAN SETH 1589139953 $3,510.66 01/01/1998 360
600107589 MERSHIMER P LOREEN 1610006685 $3,008.12 01/01/1998 360
600107595 SANDMAN JEFFREY M 1731155970 $4,405.05 01/01/1998 360
600107601 MCCARTY PHILLIP 1581120055 $2,054.55 01/01/1998 360
600107608 BUE MARK R 1506312620 $1,666.73 12 01/01/1998 360
600107609 ZIEGLER DEAN W 1507311634 $2,030.20 01/01/1998 360
600107617 HEBRON LOUISE 1731153704 $1,704.03 14 01/01/1998 360
600107623 MCGREE RHONDA D 1513198219 $1,702.91 01/01/1998 360
600107627 DENEEN LAWRENCE 1561370093 $4,712.96 01/01/1998 360
600107629 ADDY DAVID 1581126550 $5,822.32 01/01/1998 360
600107648 SOLDNER JOHN K 1761110154 $3,114.29 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107552 SANWICK JR PAUL .00 .00 .00 .000 .250 .290 $585,000.00 N
600107569 KIMBROUGH DENA .00 .00 .00 .000 .250 .290 $580,000.00 N
600107574 RAFIEE NASSER U .00 .00 .00 .000 .250 .290 $550,000.00 N
600107581 GROSSMAN SETH .00 .00 .00 .000 .250 .290 $620,000.00 N
600107589 MERSHIMER P LOREEN .00 .00 .00 .000 .250 .290 $750,000.00 N
600107595 SANDMAN JEFFREY M .00 .00 .00 .000 .250 .290 $800,000.00 N
600107601 MCCARTY PHILLIP .00 .00 .00 .000 .250 .290 $365,000.00 N
600107608 BUE MARK R .00 .00 .00 .000 .250 .290 $244,900.00 N
600107609 ZIEGLER DEAN W .00 .00 .00 .000 .250 .290 $350,000.00 N
600107617 HEBRON LOUISE .00 .00 .00 .000 .250 .290 $255,000.00 N
600107623 MCGREE RHONDA D .00 .00 .00 .000 .250 .290 $345,000.00 N
600107627 DENEEN LAWRENCE .00 .00 .00 .000 .250 .290 $875,000.00 N
600107629 ADDY DAVID .00 .00 .00 .000 .250 .290 $1,120,000.00 N
600107648 SOLDNER JOHN K .00 .00 .00 .000 .250 .290 $565,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 20
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107663 PORRAZZO THOMAS 35 SKYLARK ROAD MASSAPEQUA PARK NY 11762 $229,471.71
600107668 CROLY MARY SEMBROT 103 COLONIAL AVE LARCHMONT NY 10538 $229,509.85
600107673 LOUIE EDMUND H 32 OLD HOMESTEAD RD SEARINGTOWN NY 11507 $279,340.77
600107676 ROTHBART DAVID 1024 WEDGEWOOD LN WEST CHESTER PA 19382 $241,482.80
600107681 DONTAS ELIAS NICHOLAS 121 NORTH AVE PARK RIDGE NJ 07656 $227,910.16
600107684 MULREAN MARY C 11503 WATERHAVEN CT RUSTON VA 20190 $226,753.43
600107691 BOCKMANN RICK 5030 NORTH 109TH STRE LONGMONT CO 80501 $279,432.61
600107706 ZAKY WAFICK FOUAD 3417 PALO VISTA DRIVE RANCHO PALOS VE CA 90275 $648,543.74
600107707 COLE CLARENCE R 25461 PACIFIC HILLS DR MISSION VIEJO CA 92692 $231,054.68
600107708 ANDERSEN BURTON R 851 N DEARBORN PKWY CHICAGO IL 60610 $229,460.15
600107709 SCHREPFER JOSEPH J 170 LAWNDALE ELMHURST IL 60126 $279,340.77
600107713 ELBLING BRACHA 330 E 75TH ST NEW YORK NY 10021 $471,380.39
600107720 AMIRIAN JOSEPH 1269 WOODRUFF AVE LOS ANGELES CA 90024 $457,334.91
600107723 JUSSILA KEVIN R 21403 GREENBLUFF DRIVE TOPANGA AREA CA 90290 $499,255.54
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107663 PORRAZZO THOMAS 7.375 .250 7.125 .0400 7.085 10/01/2027
600107668 CROLY MARY SEMBROT 7.750 .250 7.500 .0400 7.460 10/01/2027
600107673 LOUIE EDMUND H 7.250 .250 7.000 .0400 6.960 10/01/2027
600107676 ROTHBART DAVID 7.250 .250 7.000 .0400 6.960 10/01/2027
600107681 DONTAS ELIAS NICHOLAS 8.250 .250 8.000 .0400 7.960 10/01/2027
600107684 MULREAN MARY C 7.625 .250 7.375 .0400 7.335 10/01/2027
600107691 BOCKMANN RICK 8.000 .250 7.750 .0400 7.710 10/01/2027
600107706 ZAKY WAFICK FOUAD 7.500 .250 7.250 .0400 7.210 10/01/2027
600107707 COLE CLARENCE R 7.250 .250 7.000 .0400 6.960 10/01/2027
600107708 ANDERSEN BURTON R 7.375 .250 7.125 .0400 7.085 10/01/2027
600107709 SCHREPFER JOSEPH J 7.250 .250 7.000 .0400 6.960 10/01/2027
600107713 ELBLING BRACHA 8.125 .250 7.875 .0400 7.835 11/01/2027
600107720 AMIRIAN JOSEPH 7.625 .250 7.375 .0400 7.335 11/01/2027
600107723 JUSSILA KEVIN R 7.500 .250 7.250 .0400 7.210 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>
600107663 PORRAZZO THOMAS 1106081677 $1,588.56 01/01/1998 360
600107668 CROLY MARY SEMBROT 1111125396 $1,647.75 01/01/1998 360
600107673 LOUIE EDMUND H 1116016897 $1,910.09 01/01/1998 360
600107676 ROTHBART DAVID 1171167521 $1,656.32 01/01/1998 360
600107681 DONTAS ELIAS NICHOLAS 1500385111 $1,715.52 12 01/01/1998 360
600107684 MULREAN MARY C 1507305744 $1,608.46 01/01/1998 360
600107691 BOCKMANN RICK 1513190272 $2,054.54 01/01/1998 360
600107706 ZAKY WAFICK FOUAD 1595050195 $4,544.90 01/01/1998 360
600107707 COLE CLARENCE R 1595055563 $1,579.93 01/01/1998 360
600107708 ANDERSEN BURTON R 1610006153 $1,588.55 01/01/1998 360
600107709 SCHREPFER JOSEPH J 1613027535 $1,910.09 01/01/1998 360
600107713 ELBLING BRACHA 1111136600 $3,504.59 01/01/1998 360
600107720 AMIRIAN JOSEPH 1230014951 $3,241.70 01/01/1998 360
600107723 JUSSILA KEVIN R 1233016727 $3,496.07 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107663 PORRAZZO THOMAS .00 .00 .00 .000 .250 .290 $373,000.00 N
600107668 CROLY MARY SEMBROT .00 .00 .00 .000 .250 .290 $330,000.00 N
600107673 LOUIE EDMUND H .00 .00 .00 .000 .250 .290 $630,000.00 N
600107676 ROTHBART DAVID .00 .00 .00 .000 .250 .290 $303,500.00 N
600107681 DONTAS ELIAS NICHOLAS .00 .00 .00 .000 .250 .290 $253,750.00 N
600107684 MULREAN MARY C .00 .00 .00 .000 .250 .290 $284,606.00 N
600107691 BOCKMANN RICK .00 .00 .00 .000 .250 .290 $350,000.00 N
600107706 ZAKY WAFICK FOUAD .00 .00 .00 .000 .250 .290 $1,300,000.00 N
600107707 COLE CLARENCE R .00 .00 .00 .000 .250 .290 $289,527.00 N
600107708 ANDERSEN BURTON R .00 .00 .00 .000 .250 .290 $567,500.00 N
600107709 SCHREPFER JOSEPH J .00 .00 .00 .000 .250 .290 $440,000.00 N
600107713 ELBLING BRACHA .00 .00 .00 .000 .250 .290 $675,000.00 N
600107720 AMIRIAN JOSEPH .00 .00 .00 .000 .250 .290 $650,000.00 N
600107723 JUSSILA KEVIN R .00 .00 .00 .000 .250 .290 $710,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 21
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107724 WILKINSON R MICHAEL 6351 TURNBERRY CIR HUNTINGTON BEAC CA 92648 $489,288.45
600107726 JOSLYN CHRISTOPHER KEN 15929 STAPLES RD RAMONA CA 92065 $230,056.95
600107730 GUPTA ASHISH 482 CUESTA DRIVE LOS ALTOS CA 94024 $455,264.90
600107732 REYNOLDS BRADLEY V 2500 EAST WALKER LANE SALT LAKE CITY UT 84117 $539,235.28
600107734 HUBNER VINCENT F 45 LOWELL DRIVE NEW CITY NY 10956 $229,682.40
600107735 PRIOR FRANK 4 HAWTHORNE ROAD CALDWELL NJ 07006 $289,609.53
600107740 VEKTERIS GERALD E 291 SMITHVILLE-PT RE PORT REPUBLIC NJ 08241 $227,685.15
600107746 HALLE ALVAH CHISHOLM 521 SOUTH GRAND AVEN SOUTH PASADENA CA 91030 $484,929.43
600107747 RADIS DAVID J 5310 NORTH ENDERBY CO CALABASAS CA 91302 $524,275.01
600107749 RODRIGUEZ JOSEPH RICHA 133 OJAI AVE OXNARD CA 93035 $232,153.84
600107754 SHAH HARESH K 464 LEVIN AVE MOUNTAIN VIEW CA 94040 $499,273.92
600107760 CORDER SIDNEY V 1411 E 116TH STREET CARMEL IN 46032 $648,294.95
600107771 LIST ROBERT F 2425 MARINA CIRCLE RENO NV 89509 $479,337.17
600107812 BROCADO CLAUDIO 166 ZANDER DRIVE ORINDA CA 94563 $519,281.91
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107724 WILKINSON R MICHAEL 7.625 .250 7.375 .0400 7.335 11/01/2027
600107726 JOSLYN CHRISTOPHER KEN 7.500 .250 7.250 .0400 7.210 11/01/2027
600107730 GUPTA ASHISH 7.625 .250 7.375 .0400 7.335 11/01/2027
600107732 REYNOLDS BRADLEY V 7.750 .250 7.500 .0400 7.460 11/01/2027
600107734 HUBNER VINCENT F 7.875 .250 7.625 .0400 7.585 11/01/2027
600107735 PRIOR FRANK 8.000 .250 7.750 .0400 7.710 11/01/2027
600107740 VEKTERIS GERALD E 7.875 .250 7.625 .0400 7.585 11/01/2027
600107746 HALLE ALVAH CHISHOLM 7.875 .250 7.625 .0400 7.585 11/01/2027
600107747 RADIS DAVID J 7.875 .250 7.625 .0400 7.585 11/01/2027
600107749 RODRIGUEZ JOSEPH RICHA 7.500 .250 7.250 .0400 7.210 11/01/2027
600107754 SHAH HARESH K 7.625 .250 7.375 .0400 7.335 11/01/2027
600107760 CORDER SIDNEY V 7.750 .250 7.500 .0400 7.460 11/01/2027
600107771 LIST ROBERT F 7.875 .250 7.625 .0400 7.585 11/01/2027
600107812 BROCADO CLAUDIO 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>
600107724 WILKINSON R MICHAEL 1233019962 $3,468.19 01/01/1998 360
600107726 JOSLYN CHRISTOPHER KEN 1243009342 $1,610.99 01/01/1998 360
600107730 GUPTA ASHISH 1489009800 $3,227.54 01/01/1998 360
600107732 REYNOLDS BRADLEY V 1497017177 $3,868.63 01/01/1998 360
600107734 HUBNER VINCENT F 1500364224 $1,667.66 01/01/1998 360
600107735 PRIOR FRANK 1500384764 $2,127.92 01/01/1998 360
600107740 VEKTERIS GERALD E 1500396720 $1,653.16 14 01/01/1998 360
600107746 HALLE ALVAH CHISHOLM 1506343034 $3,520.94 01/01/1998 360
600107747 RADIS DAVID J 1506345390 $3,806.62 01/01/1998 360
600107749 RODRIGUEZ JOSEPH RICHA 1506348220 $1,625.67 01/01/1998 360
600107754 SHAH HARESH K 1506355496 $3,538.97 01/01/1998 360
600107760 CORDER SIDNEY V 1507317313 $4,655.97 01/01/1998 360
600107771 LIST ROBERT F 1513176395 $3,480.33 01/01/1998 360
600107812 BROCADO CLAUDIO 1561377809 $3,770.37 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107724 WILKINSON R MICHAEL .00 .00 .00 .000 .250 .290 $816,000.00 N
600107726 JOSLYN CHRISTOPHER KEN .00 .00 .00 .000 .250 .290 $288,000.00 N
600107730 GUPTA ASHISH .00 .00 .00 .000 .250 .290 $570,000.00 N
600107732 REYNOLDS BRADLEY V .00 .00 .00 .000 .250 .290 $2,000,000.00 N
600107734 HUBNER VINCENT F .00 .00 .00 .000 .250 .290 $299,900.00 N
600107735 PRIOR FRANK .00 .00 .00 .000 .250 .290 $410,000.00 N
600107740 VEKTERIS GERALD E .00 .00 .00 .000 .250 .290 $240,000.00 N
600107746 HALLE ALVAH CHISHOLM .00 .00 .00 .000 .250 .290 $607,000.00 N
600107747 RADIS DAVID J .00 .00 .00 .000 .250 .290 $900,000.00 N
600107749 RODRIGUEZ JOSEPH RICHA .00 .00 .00 .000 .250 .290 $310,000.00 N
600107754 SHAH HARESH K .00 .00 .00 .000 .250 .290 $675,000.00 N
600107760 CORDER SIDNEY V .00 .00 .00 .000 .250 .290 $825,000.00 N
600107771 LIST ROBERT F .00 .00 .00 .000 .250 .290 $600,000.00 N
600107812 BROCADO CLAUDIO .00 .00 .00 .000 .250 .290 $650,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 22
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107817 PRICE W CHRISTOPHER 3825 SOUTHWESTERN BLV UNIVERSITY PARK TX 75225 $499,255.52
600107823 KIRBY JAMES LYNN 26950 SW CAMPBELL LANE WEST LINN OR 97068 $499,273.92
600107826 BYRNE JOSEPH 3342 GLEN DEVON LANE BERKELEY LAKE GA 30096 $286,004.51
600107832 THOMSON JULIAN C 2515 WEST PHOTO VIEW NEW RIVER AZ 85027 $231,679.61
600107840 MONTGOMERY TERRY G 2506 VERANDA LANE GREENSBORO NC 27455 $229,091.12
600107850 YOUNG LUCY HY 15 OLD COLONY DRIVE DOVER MA 02030 $531,227.45
600107852 GOVOSTES PAUL P 3 GREEN LANE CANTON MA 02021 $649,102.39
600107864 AMIN KAUSHIK 3554 NESTING RIDGE ROCHESTER HILLS MI 48309 $230,672.85
600107865 DANIELSEN PETER L 3 MAHER COURT GREENWICH CT 06830 $499,309.54
600107871 MANOOGIAN DAVID E 15621 HOLLY GROVE ROAD SILVER SPRING MD 20905 $563,859.19
600107876 CHROUSOS GEORGE P 6013 PLAINVIEW ROAD BETHESDA MD 20817 $484,394.97
600107879 MEYER C PAUL 1321 FORREST CT MARCO ISLAND FL 34145 $499,253.68
600107882 MCLAREN MATTHEW J 284 SIERKS COSTA MESA CA 92627 $227,677.12
600107883 FUJIMOTO KEITH I 25812 EMPRESA MISSION VIEJO CA 92691 $232,153.81
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107817 PRICE W CHRISTOPHER 7.500 .250 7.250 .0400 7.210 11/01/2027
600107823 KIRBY JAMES LYNN 7.625 .250 7.375 .0400 7.335 11/01/2027
600107826 BYRNE JOSEPH 7.875 .250 7.625 .0400 7.585 11/01/2027
600107832 THOMSON JULIAN C 7.875 .250 7.625 .0400 7.585 11/01/2027
600107840 MONTGOMERY TERRY G 8.000 .250 7.750 .0400 7.710 11/01/2027
600107850 YOUNG LUCY HY 7.625 .250 7.375 .0400 7.335 11/01/2027
600107852 GOVOSTES PAUL P 7.875 .250 7.625 .0400 7.585 11/01/2027
600107864 AMIN KAUSHIK 7.750 .250 7.500 .0400 7.460 11/01/2027
600107865 DANIELSEN PETER L 7.875 .250 7.625 .0400 7.585 11/01/2027
600107871 MANOOGIAN DAVID E 7.500 .250 7.250 .0400 7.210 11/01/2027
600107876 CHROUSOS GEORGE P 8.375 .250 8.125 .0400 8.085 11/01/2027
600107879 MEYER C PAUL 7.500 .250 7.250 .0400 7.210 11/01/2027
600107882 MCLAREN MATTHEW J 7.750 .250 7.500 .0400 7.460 11/01/2027
600107883 FUJIMOTO KEITH I 7.500 .250 7.250 .0400 7.210 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>
600107817 PRICE W CHRISTOPHER 1563176648 $3,496.08 01/01/1998 360
600107823 KIRBY JAMES LYNN 1565176922 $3,538.97 01/01/1998 360
600107826 BYRNE JOSEPH 1566112357 $2,076.60 01/01/1998 360
600107832 THOMSON JULIAN C 1569177144 $1,682.17 01/01/1998 360
600107840 MONTGOMERY TERRY G 1577101705 $1,683.26 1 01/01/1998 360
600107850 YOUNG LUCY HY 1580065461 $3,765.47 01/01/1998 360
600107852 GOVOSTES PAUL P 1580065563 $4,712.96 01/01/1998 360
600107864 AMIN KAUSHIK 1581133705 $1,654.92 01/01/1998 360
600107865 DANIELSEN PETER L 1581134446 $3,625.35 01/01/1998 360
600107871 MANOOGIAN DAVID E 1587087940 $3,948.47 01/01/1998 360
600107876 CHROUSOS GEORGE P 1587090183 $3,686.36 01/01/1998 360
600107879 MEYER C PAUL 1589139432 $3,497.00 01/01/1998 360
600107882 MCLAREN MATTHEW J 1595060789 $1,633.42 01/01/1998 360
600107883 FUJIMOTO KEITH I 1595060858 $1,625.68 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107817 PRICE W CHRISTOPHER .00 .00 .00 .000 .250 .290 $635,000.00 N
600107823 KIRBY JAMES LYNN .00 .00 .00 .000 .250 .290 $675,000.00 N
600107826 BYRNE JOSEPH .00 .00 .00 .000 .250 .290 $378,000.00 N
600107832 THOMSON JULIAN C .00 .00 .00 .000 .250 .290 $290,000.00 N
600107840 MONTGOMERY TERRY G .00 .00 .00 .000 .250 .290 $256,000.00 N
600107850 YOUNG LUCY HY .00 .00 .00 .000 .250 .290 $785,000.00 N
600107852 GOVOSTES PAUL P .00 .00 .00 .000 .250 .290 $1,075,900.00 N
600107864 AMIN KAUSHIK .00 .00 .00 .000 .250 .290 $430,000.00 N
600107865 DANIELSEN PETER L .00 .00 .00 .000 .250 .290 $642,000.00 N
600107871 MANOOGIAN DAVID E .00 .00 .00 .000 .250 .290 $725,000.00 N
600107876 CHROUSOS GEORGE P .00 .00 .00 .000 .250 .290 $680,000.00 N
600107879 MEYER C PAUL .00 .00 .00 .000 .250 .290 $650,000.00 N
600107882 MCLAREN MATTHEW J .00 .00 .00 .000 .250 .290 $285,000.00 N
600107883 FUJIMOTO KEITH I .00 .00 .00 .000 .250 .290 $300,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 23
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107886 FARBER ALAN M 23465 PALM DRIVE CALABASAS CA 91302 $649,102.39
600107905 LAPIN STEWART A 5435 AURA AVENUE TARZANA CA 91356 $644,086.58
600107916 DUNN JEFFREY S 18156 KINGSPORT DRIVE MALIBU CA 90265 $499,309.54
600107938 GOBRAN SHERIN 40 E 94TH ST UNIT # NEW YORK NY 10128 $479,643.77
600107944 SCHNEIDER MATTHEW THOM 4122 MENTONE AVE CULVER CITY CA 90232 $229,420.89
600107960 SIWINSKI STEVEN J 1293 STREET JOHNS AVE HIGHLAND PARK IL 60035 $457,215.63
600107963 TESTA BRENDA D 13713 CREEKSIDE DRIVE SILVER SPRING MD 20904 $231,819.02
600108076 SCHMIDT ROLLIE 14110 RED ROCK COURT AUBURN CA 95602 $579,219.08
600108081 ROSSOPOULOS EVANGELOS 6881 CAMBRA COVE CIR HUNTINGTON BEAC CA 92648 $582,015.28
600108082 FREITAS ROBERT E 5844 SW DELKER ROAD TUALATIN OR 97062 $569,192.80
600108162 MARK J BEREYSO 175 DELAWARE 7804 CHICAGO IL 60611 $273,634.91
600108164 BETSY A BURNS 195 HARBOR DR 2603 CHICAGO IL 60601 $249,663.38
600108165 IKHLAQ & JYOTI SIDHU 403 RIVER GROVE LN VERNON HILLS IL 60061 $266,037.64
600108167 ROBERT STEPHEN WACKER 3826 800 EAST ZIONSVILLE IN 46077 $261,153.07
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107886 FARBER ALAN M 7.875 .250 7.625 .0400 7.585 11/01/2027
600107905 LAPIN STEWART A 7.750 .250 7.500 .0400 7.460 11/01/2027
600107916 DUNN JEFFREY S 7.875 .250 7.625 .0400 7.585 11/01/2027
600107938 GOBRAN SHERIN 7.500 .250 7.250 .0400 7.210 12/01/2027
600107944 SCHNEIDER MATTHEW THOM 7.250 .250 7.000 .0400 6.960 12/01/2027
600107960 SIWINSKI STEVEN J 8.375 .250 8.125 .0400 8.085 12/01/2027
600107963 TESTA BRENDA D 7.250 .250 7.000 .0400 6.960 12/01/2027
600108076 SCHMIDT ROLLIE 8.000 .250 7.750 .0400 7.710 11/01/2027
600108081 ROSSOPOULOS EVANGELOS 8.000 .250 7.750 .0400 7.710 11/01/2027
600108082 FREITAS ROBERT E 7.750 .250 7.500 .0400 7.460 11/01/2027
600108162 MARK J BEREYSO 8.375 .250 8.125 .0500 8.075 08/01/2027
600108164 BETSY A BURNS 8.000 .250 7.750 .0500 7.700 11/01/2027
600108165 IKHLAQ & JYOTI SIDHU 7.950 .250 7.700 .0500 7.650 11/01/2027
600108167 ROBERT STEPHEN WACKER 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>
600107886 FARBER ALAN M 1595061136 $4,712.96 01/01/1998 360
600107905 LAPIN STEWART A 1596048927 $4,620.86 01/01/1998 360
600107916 DUNN JEFFREY S 1596050918 $3,625.35 01/01/1998 360
600107938 GOBRAN SHERIN 1111138354 $3,356.23 01/01/1998 360
600107944 SCHNEIDER MATTHEW THOM 1233021830 $1,566.28 01/01/1998 360
600107960 SIWINSKI STEVEN J 1583071824 $3,477.34 01/01/1998 360
600107963 TESTA BRENDA D 1751106693 $1,582.65 01/01/1998 360
600108076 SCHMIDT ROLLIE 1506352363 $4,255.83 01/01/1998 360
600108081 ROSSOPOULOS EVANGELOS 1512175976 $4,276.39 01/01/1998 360
600108082 FREITAS ROBERT E 1513206339 $4,083.55 01/01/1998 360
600108162 MARK J BEREYSO 3257631 $2,086.40 12 01/01/1998 360
600108164 BETSY A BURNS 3294444 $1,834.42 01/01/1998 360
600108165 IKHLAQ & JYOTI SIDHU 3297678 $1,945.48 01/01/1998 360
600108167 ROBERT STEPHEN WACKER 3343753 $1,968.32 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107886 FARBER ALAN M .00 .00 .00 .000 .250 .290 $835,000.00 N
600107905 LAPIN STEWART A .00 .00 .00 .000 .250 .290 $1,100,000.00 N
600107916 DUNN JEFFREY S .00 .00 .00 .000 .250 .290 $685,000.00 N
600107938 GOBRAN SHERIN .00 .00 .00 .000 .250 .290 $625,000.00 N
600107944 SCHNEIDER MATTHEW THOM .00 .00 .00 .000 .250 .290 $287,000.00 N
600107960 SIWINSKI STEVEN J .00 .00 .00 .000 .250 .290 $610,000.00 N
600107963 TESTA BRENDA D .00 .00 .00 .000 .250 .290 $290,000.00 N
600108076 SCHMIDT ROLLIE .00 .00 .00 .000 .250 .290 $750,000.00 N
600108081 ROSSOPOULOS EVANGELOS .00 .00 .00 .000 .250 .290 $730,000.00 N
600108082 FREITAS ROBERT E .00 .00 .00 .000 .250 .290 $825,000.00 N
600108162 MARK J BEREYSO .00 .00 .00 .000 .250 .300 $305,000.00 N
600108164 BETSY A BURNS .00 .00 .00 .000 .250 .300 $349,500.00 N
600108165 IKHLAQ & JYOTI SIDHU .00 .00 .00 .000 .250 .300 $333,000.00 N
600108167 ROBERT STEPHEN WACKER .00 .00 .00 .000 .250 .300 $500,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 24
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600108169 JOHN E ACUFF 5462 MORNINGVIEW TR BRIGHTON MI 48116 $266,158.95
600108171 RONALD E SLATER 1313 RITCHIE COURT CHICAGO IL 60610 $312,274.67
600108174 MICHAEL P BROGAN 3500 LUTZ ROAD LINDEN MI 48451 $231,829.54
600108176 TAKAO NAKAZAWA 25546 ARCADIA DR NOVI MI 48374 $249,663.38
600108179 WILLIAM O MAKI 2721 SUNFLOWER COURT GLENVIEW IL 60025 $254,825.39
600109166 Emala 15 Woodbrook Lane Baltimore MD 21212 $247,643.29
600109172 Peterson 30 Springhill Farm Court Cockeysville MD 21030 $546,196.88
600109173 Lewin 4401 Greenway Baltimore MD 21218 $496,456.96
600109176 Cook 201 Woodbrook Lane Baltimore MD 21212 $827,500.95
600109181 Black 109 Grey Eagle Sun Valley ID 83353 $694,555.10
600109182 Bryant 1015 Wagner Road Ruxton MD 21204 $746,080.65
600109436 PAINTER 201 PELAGIC LANE SOLOMONS ISLAND MD 20688 $226,990.30
600109448 SENNETT 2875 PARKWOOD LANE AURORA IL 60504 $549,396.91
600109449 BOWIE 7676 ANN HARBOR DRIVE PORT TOBACCO MD 20677 $245,685.18
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600108169 JOHN E ACUFF 8.250 .250 8.000 .0500 7.950 11/01/2027
600108171 RONALD E SLATER 7.950 .250 7.700 .0500 7.650 11/01/2027
600108174 MICHAEL P BROGAN 7.550 .250 7.300 .0500 7.250 12/01/2027
600108176 TAKAO NAKAZAWA 8.000 .250 7.750 .0500 7.700 11/01/2027
600108179 WILLIAM O MAKI 7.900 .250 7.650 .0500 7.600 12/01/2027
600109166 Emala 7.500 .375 7.125 .0500 7.075 01/01/2027
600109172 Peterson 8.000 .375 7.625 .0500 7.575 03/01/2027
600109173 Lewin 8.000 .250 7.750 .0500 7.700 05/01/2027
600109176 Cook 8.000 .250 7.750 .0500 7.700 11/01/2025
600109181 Black 7.875 .375 7.500 .0500 7.450 04/01/2027
600109182 Bryant 8.250 .375 7.875 .0500 7.825 05/01/2027
600109436 PAINTER 7.500 .250 7.250 .0500 7.200 10/01/2027
600109448 SENNETT 9.000 .250 8.750 .0500 8.700 11/01/2027
600109449 BOWIE 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>
600108169 JOHN E ACUFF 3373545 $2,002.13 01/01/1998 360
600108171 RONALD E SLATER 3389202 $2,283.60 01/01/1998 360
600108174 MICHAEL P BROGAN 3395241 $1,630.13 01/01/1998 360
600108176 TAKAO NAKAZAWA 3408408 $1,834.42 01/01/1998 360
600108179 WILLIAM O MAKI 3414729 $1,853.36 01/01/1998 360
600109166 Emala 39038260 $1,748.04 01/01/1998 360
600109172 Peterson 39049499 $4,035.71 01/01/1998 360
600109173 Lewin 39049762 $3,662.96 01/01/1998 360
600109176 Cook 39024674 $6,237.05 01/01/1998 360
600109181 Black 39050232 $5,068.24 01/01/1998 360
600109182 Bryant 39050893 $5,634.50 01/01/1998 360
600109436 PAINTER 0941416 $1,590.72 01/01/1998 360
600109448 SENNETT 0945465 $4,425.42 01/01/1998 360
600109449 BOWIE 0945855 $1,848.12 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600108169 JOHN E ACUFF .00 .00 .00 .000 .250 .300 $335,000.00 N
600108171 RONALD E SLATER .00 .00 .00 .000 .250 .300 $625,000.00 N
600108174 MICHAEL P BROGAN .00 .00 .00 .000 .250 .300 $300,000.00 N
600108176 TAKAO NAKAZAWA .00 .00 .00 .000 .250 .300 $350,000.00 N
600108179 WILLIAM O MAKI .00 .00 .00 .000 .250 .300 $440,000.00 N
600109166 Emala .00 .00 .00 .000 .375 .425 $615,000.00 N
600109172 Peterson .00 .00 .00 .000 .375 .425 $725,000.00 N
600109173 Lewin .00 .00 .00 .000 .250 .300 $624,000.00 N
600109176 Cook .00 .00 .00 .000 .250 .300 $1,070,000.00 N
600109181 Black .00 .00 .00 .000 .375 .425 $1,250,000.00 N
600109182 Bryant .00 .00 .00 .000 .375 .425 $1,000,000.00 N
600109436 PAINTER .00 .00 .00 .000 .250 .300 $284,424.00 N
600109448 SENNETT .00 .00 .00 .000 .250 .300 $720,000.00 N
600109449 BOWIE .00 .00 .00 .000 .250 .300 $309,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 25
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109462 WOLONSAV 16 FERN STREET BEVERLY MA 01915 $272,623.01
600109468 REID 1995 SAUNDERS ROAD RIVERWOODS IL 60015 $228,985.83
600109489 AARONSON 6150 CEDAR CREEK DRIVE HOUSTON TX 77057 $231,222.10
600109508 SMALL 32 CHESTNUT ST WELLESLEY MA 02181 $636,498.28
600109543 FLEET 145 KINGS CREST LANE PELHAM AL 35124 $229,829.31
600109573 BACORN 9555 E BULLARD AVENUE CLOVIS CA 93611 $231,541.61
600109591 KERN 23931 ASPEN WAY CALABASAS CA 91302 $649,102.42
600109629 RINEBOLD 5576 RIVIERA WALK LONG BEACH CA 90803 $227,693.00
600109631 SELVIN 22192 RICO ROAD LAGUNA BEACH CA 92677 $518,246.05
600109646 POWELSON 13430 SW FIELDING ROAD LAKE OSWEGO OR 97034 $567,714.95
600109655 DRESMAL 14912 FOXCROFT ROAD TUSTIN CA 92780 $227,593.14
600109659 CATANIA 1130 N KENWOOD STREET BURBANK CA 91505 $232,266.30
600109685 MARSH 1664 SOUTH STONERIDGE DRI BOUNTIFUL UT 84010 $489,288.45
600109689 WADDELOW 1881 CLAUDINE DRIVE LAS VEGAS NV 89115 $228,204.39
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109462 WOLONSAV 7.875 .250 7.625 .0500 7.575 11/01/2027
600109468 REID 7.500 .250 7.250 .0500 7.200 10/01/2027
600109489 AARONSON 7.750 .250 7.500 .0500 7.450 11/01/2027
600109508 SMALL 8.125 .250 7.875 .0500 7.825 11/01/2027
600109543 FLEET 7.500 .250 7.250 .0500 7.200 12/01/2027
600109573 BACORN 8.125 .250 7.875 .0500 7.825 10/01/2027
600109591 KERN 7.875 .250 7.625 .0500 7.575 11/01/2027
600109629 RINEBOLD 8.000 .250 7.750 .0500 7.700 11/01/2027
600109631 SELVIN 7.875 .250 7.625 .0500 7.575 11/01/2027
600109646 POWELSON 7.875 .250 7.625 .0500 7.575 11/01/2027
600109655 DRESMAL 8.000 .250 7.750 .0500 7.700 11/01/2027
600109659 CATANIA 7.875 .250 7.625 .0500 7.575 10/01/2027
600109685 MARSH 7.625 .250 7.375 .0500 7.325 11/01/2027
600109689 WADDELOW 8.250 .250 8.000 .0500 7.950 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>
600109462 WOLONSAV 0948393 $1,979.44 12 01/01/1998 360
600109468 REID 0948773 $1,604.70 12 01/01/1998 360
600109489 AARONSON 0950629 $1,658.85 2 01/01/1998 360
600109508 SMALL 0951750 $4,751.24 01/01/1998 360
600109543 FLEET 0955433 $1,608.19 01/01/1998 360
600109573 BACORN 6214003 $1,722.60 01/01/1998 360
600109591 KERN 6217279 $4,712.95 01/01/1998 360
600109629 RINEBOLD 6294904 $1,672.99 01/01/1998 360
600109631 SELVIN 6299437 $3,764.56 01/01/1998 360
600109646 POWELSON 6311870 $4,122.02 01/01/1998 360
600109655 DRESMAL 6313484 $1,672.25 2 01/01/1998 360
600109659 CATANIA 6315101 $1,687.60 12 01/01/1998 360
600109685 MARSH 7351612 $3,468.19 01/01/1998 360
600109689 WADDELOW 7462120 $1,715.52 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109462 WOLONSAV .00 .00 .00 .000 .250 .300 $325,000.00 N
600109468 REID .00 .00 .00 .000 .250 .300 $255,000.00 N
600109489 AARONSON .00 .00 .00 .000 .250 .300 $257,300.00 N
600109508 SMALL .00 .00 .00 .000 .250 .300 $850,000.00 N
600109543 FLEET .00 .00 .00 .000 .250 .300 $305,000.00 N
600109573 BACORN .00 .00 .00 .000 .250 .300 $290,000.00 N
600109591 KERN .00 .00 .00 .000 .250 .300 $950,000.00 N
600109629 RINEBOLD .00 .00 .00 .000 .250 .300 $285,000.00 N
600109631 SELVIN .00 .00 .00 .000 .250 .300 $649,000.00 N
600109646 POWELSON .00 .00 .00 .000 .250 .300 $800,000.00 N
600109655 DRESMAL .00 .00 .00 .000 .250 .300 $239,900.00 N
600109659 CATANIA .00 .00 .00 .000 .250 .300 $245,000.00 N
600109685 MARSH .00 .00 .00 .000 .250 .300 $1,050,000.00 N
600109689 WADDELOW .00 .00 .00 .000 .250 .300 $310,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 26
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109691 BROWN 9552 CAMINO CAPISTRANO LN LAS VEGAS NV 89117 $227,109.00
600119520 CINTRON,MARCOS E. 8540 DUNDEE TERRACE MIAMI LAKES FL 33016 $227,571.90
600119534 WUBBELS,PAUL R 131 AUSAYMUS CT. HOLLISTER CA 95023 $228,709.05
600119540 FISCHER,JEANNE 76 EAST VALLEY BROOK ROAD LONG VALLEY NJ 07853 $228,276.26
600119556 ROBBLEE,SCOTT F 14 DAVIDSON AVENUE RAMSEY NJ 07446 $227,076.60
600119562 ANDERSON,MARK C. 405 THOMAS STEWART WAY STEWARTSVILLE NJ 08886 $227,813.11
600119572 BATTLE,ROBERTA R 49 ROSEDALE ROAD EAST GREENWICH RI 02818 $227,537.96
600119577 WILLIAMS JR,HENRY R 116 IRVING PL. RUTHERFORD NJ 07070 $227,693.02
600119606 TAYLOR,SUSAN MARY 214 JEFFERSON STREET ALEXANDRIA VA 22314 $229,590.45
600119612 ALVAREZ,DELMA L. 5142 BUFFALO ROAD ERIE CO 80516 $227,695.30
600119623 QUALLS,TRACY ALLEN 3267 WHISPERING OAKS TL DALLAS TX 75234 $227,501.18
600119670 LEDDY,GREGORY L. 6731 SOUTHWEST 75TH TERRA SOUTH MIAMI FL 33143 $228,792.43
600119703 FRITCHLEY,RON L. 50 CROSS HILL ROAD RIDGEFIELD CT 06877 $229,566.15
600119712 SNODGRASS,DAVID E 33 CEDAR DRIVE STERLING VA 20164 $227,706.79
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109691 BROWN 8.250 .250 8.000 .0500 7.950 11/01/2027
600119520 CINTRON,MARCOS E. 8.375 .200 8.175 .0400 8.135 10/01/2027
600119534 WUBBELS,PAUL R 8.250 .200 8.050 .0400 8.010 09/01/2027
600119540 FISCHER,JEANNE 7.750 .200 7.550 .0400 7.510 11/01/2027
600119556 ROBBLEE,SCOTT F 8.000 .200 7.800 .0400 7.760 10/01/2027
600119562 ANDERSON,MARK C. 7.000 .200 6.800 .0400 6.760 12/01/2027
600119572 BATTLE,ROBERTA R 8.000 .200 7.800 .0400 7.760 10/01/2027
600119577 WILLIAMS JR,HENRY R 8.000 .200 7.800 .0400 7.760 11/01/2027
600119606 TAYLOR,SUSAN MARY 8.000 .200 7.800 .0400 7.760 11/01/2027
600119612 ALVAREZ,DELMA L. 7.500 .200 7.300 .0400 7.260 12/01/2027
600119623 QUALLS,TRACY ALLEN 7.625 .200 7.425 .0400 7.385 10/01/2027
600119670 LEDDY,GREGORY L. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119703 FRITCHLEY,RON L. 7.625 .200 7.425 .0400 7.385 11/01/2027
600119712 SNODGRASS,DAVID E 7.875 .200 7.675 .0400 7.635 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>
600109691 BROWN 7503720 $1,708.38 2 01/01/1998 360
600119520 CINTRON,MARCOS E. 5111356 $1,732.96 19 01/01/1998 360
600119534 WUBBELS,PAUL R 5463658 $1,722.66 01/01/1998 360
600119540 FISCHER,JEANNE 5483292 $1,637.72 19 01/01/1998 360
600119556 ROBBLEE,SCOTT F 5524616 $1,674.08 2 01/01/1998 360
600119562 ANDERSON,MARK C. 5542089 $1,516.89 01/01/1998 360
600119572 BATTLE,ROBERTA R 5577150 $1,672.99 01/01/1998 360
600119577 WILLIAMS JR,HENRY R 5594874 $1,672.98 2 01/01/1998 360
600119606 TAYLOR,SUSAN MARY 5660709 $1,686.93 01/01/1998 360
600119612 ALVAREZ,DELMA L. 5676630 $1,594.21 19 01/01/1998 360
600119623 QUALLS,TRACY ALLEN 5706338 $1,613.77 19 01/01/1998 360
600119670 LEDDY,GREGORY L. 5726047 $1,660.05 19 01/01/1998 360
600119703 FRITCHLEY,RON L. 5766423 $1,627.22 19 01/01/1998 360
600119712 SNODGRASS,DAVID E 5780440 $1,653.92 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109691 BROWN .00 .00 .00 .000 .250 .300 $239,400.00 N
600119520 CINTRON,MARCOS E. $240,000.00 N
600119534 WUBBELS,PAUL R $393,000.00 N
600119540 FISCHER,JEANNE $254,000.00 N
600119556 ROBBLEE,SCOTT F $253,500.00 N
600119562 ANDERSON,MARK C. $285,000.00 N
600119572 BATTLE,ROBERTA R $305,000.00 N
600119577 WILLIAMS JR,HENRY R $240,000.00 N
600119606 TAYLOR,SUSAN MARY $318,000.00 N
600119612 ALVAREZ,DELMA L. $240,000.00 N
600119623 QUALLS,TRACY ALLEN $240,000.00 N
600119670 LEDDY,GREGORY L. $241,000.00 N
600119703 FRITCHLEY,RON L. $242,000.00 N
600119712 SNODGRASS,DAVID E $253,450.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 27
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119833 SARNEVITZ,ALEXI L 17 MANNING STREET NEEDHAM MA 02192 $227,839.08
600119917 CRISP,EARL W 1302 BRITISH BOULEVARD GRAND PRAIRIE TX 75050 $228,842.40
600119934 CHITWOOD,JOHN STEPHEN 1070 HARBOR HAVEN SOUTHLAKE TX 76092 $227,662.16
600119935 COSTANZO,JOHN 2706 STILESBORO LANE ACWORTH GA 30101 $228,829.20
600119937 WINTHROP,RONALD W. 2206 WASHINGTON IRVING DR PEARLAND TX 77581 $227,112.09
600120071 ARNONE,RALPH A. 14 PEMBERWICK ROAD GREENWICH CT 06831 $226,896.38
600120085 BINGHAM,LISA C. 1923 PORTSMOUTH HOUSTON TX 77098 $228,633.83
600120090 BROOKMAN,ROXANNE 21913 34TH AVENUE WEST BRIER WA 98036 $229,459.96
600120092 BUCK,RUDOLPH E. 39 DEER FIELD LANE STOW MA 01775 $227,366.15
600120100 GOODMAN,HOWARD A 3 BUCKINGHAM DRIVE LONDONDERRY NH 03053 $226,780.36
600120111 DWYER,DAVID S. 1950 ALASKAN WAY # 33 SEATTLE WA 98101 $227,668.91
600120146 AIDAROUS,SALAH 3805 BRANCHWOOD DRIVE PLANO TX 75093 $226,865.42
600120162 ARBOUR,WILLIAM E 600 CYPRESS MEADOWS LAS VEGAS NV 89134 $228,025.15
600120194 GAUGHAN III,JOHN E. 106 SKYLINE DRIVE TROPHY CLUB TX 76262 $228,437.05
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119833 SARNEVITZ,ALEXI L 7.750 .200 7.550 .0400 7.510 12/01/2027
600119917 CRISP,EARL W 7.875 .200 7.675 .0400 7.635 12/01/2027
600119934 CHITWOOD,JOHN STEPHEN 7.625 .200 7.425 .0400 7.385 09/01/2027
600119935 COSTANZO,JOHN 7.625 .200 7.425 .0400 7.385 09/01/2027
600119937 WINTHROP,RONALD W. 7.375 .200 7.175 .0400 7.135 08/01/2027
600120071 ARNONE,RALPH A. 8.000 .200 7.800 .0400 7.760 09/01/2027
600120085 BINGHAM,LISA C. 7.875 .200 7.675 .0400 7.635 11/01/2027
600120090 BROOKMAN,ROXANNE 7.750 .200 7.550 .0400 7.510 10/01/2027
600120092 BUCK,RUDOLPH E. 7.875 .200 7.675 .0400 7.635 09/01/2027
600120100 GOODMAN,HOWARD A 8.125 .200 7.925 .0400 7.885 08/01/2027
600120111 DWYER,DAVID S. 7.625 .200 7.425 .0400 7.385 11/01/2027
600120146 AIDAROUS,SALAH 7.625 .200 7.425 .0400 7.385 08/01/2027
600120162 ARBOUR,WILLIAM E 7.875 .200 7.675 .0400 7.635 10/01/2027
600120194 GAUGHAN III,JOHN E. 7.500 .200 7.300 .0400 7.260 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>
600119833 SARNEVITZ,ALEXI L 5811633 $1,633.42 01/01/1998 360
600119917 CRISP,EARL W 5942479 $1,660.41 19 01/01/1998 360
600119934 CHITWOOD,JOHN STEPHEN 6176051 $1,618.02 01/01/1998 360
600119935 COSTANZO,JOHN 6183750 $1,624.39 01/01/1998 360
600119937 WINTHROP,RONALD W. 6184865 $1,574.74 7 01/01/1998 360
600120071 ARNONE,RALPH A. 8990194 $1,672.99 01/01/1998 360
600120085 BINGHAM,LISA C. 9711862 $1,660.05 19 01/01/1998 360
600120090 BROOKMAN,ROXANNE 9772799 $1,647.39 01/01/1998 360
600120092 BUCK,RUDOLPH E. 9799560 $1,653.16 01/01/1998 360
600120100 GOODMAN,HOWARD A 9922261 $1,701.01 19 01/01/1998 360
600120111 DWYER,DAVID S. 5219258 $1,613.77 01/01/1998 360
600120146 AIDAROUS,SALAH 5111190 $1,611.65 19 01/01/1998 360
600120162 ARBOUR,WILLIAM E 5544127 $1,656.78 01/01/1998 360
600120194 GAUGHAN III,JOHN E. 5748058 $1,600.86 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119833 SARNEVITZ,ALEXI L $285,000.00 N
600119917 CRISP,EARL W $242,000.00 N
600119934 CHITWOOD,JOHN STEPHEN $320,000.00 N
600119935 COSTANZO,JOHN $286,900.00 N
600119937 WINTHROP,RONALD W. $240,100.00 N
600120071 ARNONE,RALPH A. $315,000.00 N
600120085 BINGHAM,LISA C. $241,000.00 N
600120090 BROOKMAN,ROXANNE $289,950.00 N
600120092 BUCK,RUDOLPH E. $285,000.00 N
600120100 GOODMAN,HOWARD A $241,150.00 N
600120111 DWYER,DAVID S. $285,000.00 N
600120146 AIDAROUS,SALAH $253,500.00 N
600120162 ARBOUR,WILLIAM E $285,705.00 N
600120194 GAUGHAN III,JOHN E. $241,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 28
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120253 WNUK,GRAZYNA B. 21634 CLUB VILLA TERRACE BOCA RATON FL 33433 $227,560.82
600120259 COOLEY,CHARLES R 22929 ASHWOOD COURT CALIFORNIA MD 20619 $227,463.19
600120290 LYNN,REBECCA 1011 S. VALENTIA ST #16 DENVER CO 80231 $228,324.52
600120297 MEYRICK,MICHAEL W. 7770 SOUTH IVY WAY ENGLEWOOD CO 80112 $227,381.89
600120886 SHNEIDER,BENJAMIN 26 LINCOLN AVENUE OLD GREENWICH CT 06870 $627,522.14
600120897 WALSH,KEVIN 5514 SANDSTONE WAY FAYETTEVILLE NY 13066 $269,627.16
600120932 KAMPF,RICHARD 145 HEATHER DR NEW HOPE PA 18938 $279,786.94
600120935 LAYTON,PAUL 4001 STANSBURY AVE SHERMAN OAKS CA 91423 $512,209.95
600120937 BHOLA,RAKESH 261 S ORANGE ACRES D ANAHEIM CA 92807 $479,643.77
600120940 LI,TIENTIEN 960 W ORANGE GROVE A ARCADIA CA 91006 $479,669.67
600120950 BYRNE,MARK 2410 N ARDMORE AVE MANHATTAN BEACH CA 90266 $455,669.96
600120964 FARLEY,DANIEL 7221 RUE MICHAEL LA JOLLA CA 92037 $499,609.95
600120973 WHITE,JOSEPH 216 WOODWIND BLOOMFIELD HILL MI 48304 $587,541.30
600120977 OTT,WILLIAM 4600 EAST 6TH AVENUE DENVER CO 80220 $275,487.03
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120253 WNUK,GRAZYNA B. 8.250 .200 8.050 .0400 8.010 10/01/2027
600120259 COOLEY,CHARLES R 7.250 .200 7.050 .0400 7.010 10/01/2027
600120290 LYNN,REBECCA 7.875 .200 7.675 .0400 7.635 10/01/2027
600120297 MEYRICK,MICHAEL W. 8.000 .200 7.800 .0400 7.760 09/01/2027
600120886 SHNEIDER,BENJAMIN 7.375 .250 7.125 .0400 7.085 12/01/2027
600120897 WALSH,KEVIN 7.875 .250 7.625 .0400 7.585 11/01/2027
600120932 KAMPF,RICHARD 7.375 .250 7.125 .0400 7.085 12/01/2027
600120935 LAYTON,PAUL 7.375 .250 7.125 .0400 7.085 12/01/2027
600120937 BHOLA,RAKESH 7.500 .250 7.250 .0400 7.210 12/01/2027
600120940 LI,TIENTIEN 7.875 .250 7.625 .0400 7.585 12/01/2027
600120950 BYRNE,MARK 7.625 .250 7.375 .0400 7.335 12/01/2027
600120964 FARLEY,DANIEL 7.250 .250 7.000 .0400 6.960 12/01/2027
600120973 WHITE,JOSEPH 7.250 .250 7.000 .0400 6.960 12/01/2027
600120977 OTT,WILLIAM 7.625 .250 7.375 .0400 7.335 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>
600120253 WNUK,GRAZYNA B. 6125959 $1,712.89 19 01/01/1998 360
600120259 COOLEY,CHARLES R 6214670 $1,555.36 01/01/1998 360
600120290 LYNN,REBECCA 9675117 $1,658.96 01/01/1998 360
600120297 MEYRICK,MICHAEL W. 9875634 $1,672.99 19 01/01/1998 360
600120886 SHNEIDER,BENJAMIN 1106083785 $4,337.44 01/01/1998 360
600120897 WALSH,KEVIN 1107014143 $1,957.69 01/01/1998 360
600120932 KAMPF,RICHARD 1175049210 $1,933.89 01/01/1998 360
600120935 LAYTON,PAUL 1230014805 $3,540.40 01/01/1998 360
600120937 BHOLA,RAKESH 1231010038 $3,356.23 01/01/1998 360
600120940 LI,TIENTIEN 1233018370 $3,480.33 01/01/1998 360
600120950 BYRNE,MARK 1233021443 $3,227.54 01/01/1998 360
600120964 FARLEY,DANIEL 1243010137 $3,410.88 01/01/1998 360
600120973 WHITE,JOSEPH 1412018954 $4,011.20 01/01/1998 360
600120977 OTT,WILLIAM 1461115720 $3,369.10 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120253 WNUK,GRAZYNA B. $240,000.00 N
600120259 COOLEY,CHARLES R $285,000.00 N
600120290 LYNN,REBECCA $286,063.49 N
600120297 MEYRICK,MICHAEL W. $240,000.00 N
600120886 SHNEIDER,BENJAMIN $785,000.00 N
600120897 WALSH,KEVIN $360,000.00 N
600120932 KAMPF,RICHARD $380,100.00 N
600120935 LAYTON,PAUL $732,400.00 N
600120937 BHOLA,RAKESH $600,000.00 N
600120940 LI,TIENTIEN $600,000.00 N
600120950 BYRNE,MARK $570,000.00 N
600120964 FARLEY,DANIEL $694,000.00 N
600120973 WHITE,JOSEPH $735,000.00 N
600120977 OTT,WILLIAM $595,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 29
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120978 FLEMING,MICHAEL 959 S GAYLORD ST DENVER CO 80209 $278,223.49
600120982 ERGO,RICHARD 2834 COMISTAS DRIVE WALNUT CREEK CA 94598 $599,150.33
600120989 FLASTER,STANLEY 1760 EAST VALLEY ROAD SANTA BARBARA CA 93108 $599,565.74
600121000 DOUCET,ROBERT 861 LEWISTON DRIVE SAN JOSE CA 95136 $231,844.34
600121032 BROWN,MICHAEL 19 WOODBURY FARMS D WOODBURY NY 11797 $399,474.91
600121036 HAMILTON,WILLIAM 34 LANCE ROAD READINGTON NJ 88330 $279,613.36
600121044 STEERMAN,CRAIG 221 RIGHTERS MILL RO GLADWYNNE PA 19035 $801,473.02
600121067 STERN,PETER 1278 ANDREWS LANE CORRALES NM 87048 $646,311.33
600121071 GLAB,CHRISTOPHER 142 LA MESA DR BURLINGAME CA 94010 $598,784.16
600121079 HANSEN,JEFFREY 2016 GOLDEN MAPLES CT OLYMPIA WA 98502 $227,677.12
600121081 KERN,CELIA 15941 PINNACLE RD CHINO HILLS CA 91709 $864,238.13
600121093 KIPP,KENNETH 152 NOB HILL LN VENTURA CA 93003 $470,298.72
600121095 MIRMAN,STEVEN 16618 BOSQUE DR LOS ANGELES CA 91436 $494,262.96
600121100 BAIRD,JERRY 816 ALAMEDA DE LAS P BELMONT CA 94002 $232,653.08
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120978 FLEMING,MICHAEL 7.625 .250 7.375 .0400 7.335 12/01/2027
600120982 ERGO,RICHARD 7.750 .250 7.500 .0400 7.460 11/01/2027
600120989 FLASTER,STANLEY 7.625 .250 7.375 .0400 7.335 12/01/2027
600121000 DOUCET,ROBERT 8.000 .250 7.750 .0400 7.710 12/01/2027
600121032 BROWN,MICHAEL 8.125 .250 7.875 .0400 7.835 11/01/2027
600121036 HAMILTON,WILLIAM 7.875 .250 7.625 .0400 7.585 11/01/2027
600121044 STEERMAN,CRAIG 8.250 .250 8.000 .0400 7.960 11/01/2027
600121067 STERN,PETER 8.500 .250 8.250 .0400 8.210 10/01/2027
600121071 GLAB,CHRISTOPHER 8.000 .250 7.750 .0400 7.710 10/01/2027
600121079 HANSEN,JEFFREY 7.750 .250 7.500 .0400 7.460 11/01/2027
600121081 KERN,CELIA 8.375 .250 8.125 .0400 8.085 11/01/2027
600121093 KIPP,KENNETH 7.500 .250 7.250 .0400 7.210 11/01/2027
600121095 MIRMAN,STEVEN 7.500 .250 7.250 .0400 7.210 11/01/2027
600121100 BAIRD,JERRY 7.500 .250 7.250 .0400 7.210 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>
600120978 FLEMING,MICHAEL 1463010745 $1,970.67 01/01/1998 360
600120982 ERGO,RICHARD 1470015024 $4,298.47 01/01/1998 360
600120989 FLASTER,STANLEY 1484008560 $4,246.76 01/01/1998 360
600121000 DOUCET,ROBERT 1489009049 $1,702.33 01/01/1998 360
600121032 BROWN,MICHAEL 1500390188 $2,969.99 01/01/1998 360
600121036 HAMILTON,WILLIAM 1500394156 $2,030.19 01/01/1998 360
600121044 STEERMAN,CRAIG 1500400259 $6,028.92 01/01/1998 360
600121067 STERN,PETER 1506315390 $4,997.94 01/01/1998 360
600121071 GLAB,CHRISTOPHER 1506330586 $4,402.59 01/01/1998 360
600121079 HANSEN,JEFFREY 1506347691 $1,633.42 01/01/1998 360
600121081 KERN,CELIA 1506351327 $6,627.83 01/01/1998 360
600121093 KIPP,KENNETH 1506354733 $3,293.30 01/01/1998 360
600121095 MIRMAN,STEVEN 1506355656 $3,461.12 01/01/1998 360
600121100 BAIRD,JERRY 1506356976 $1,629.17 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120978 FLEMING,MICHAEL $350,000.00 N
600120982 ERGO,RICHARD $765,000.00 N
600120989 FLASTER,STANLEY $1,300,000.00 N
600121000 DOUCET,ROBERT $290,000.00 N
600121032 BROWN,MICHAEL $580,000.00 N
600121036 HAMILTON,WILLIAM $391,675.00 N
600121044 STEERMAN,CRAIG $1,070,000.00 N
600121067 STERN,PETER $820,000.00 N
600121071 GLAB,CHRISTOPHER $750,000.00 N
600121079 HANSEN,JEFFREY $285,000.00 N
600121081 KERN,CELIA $1,500,000.00 N
600121093 KIPP,KENNETH $605,000.00 N
600121095 MIRMAN,STEVEN $700,000.00 N
600121100 BAIRD,JERRY $315,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 30
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121110 MADUREIRA,ANTONIO 2259 VIA FRESA LA JOLLA CA 92037 $649,124.82
600121121 OTTO,JAMES 6325 VIA COLINITA RANCHO PALOS VE CA 90275 $599,150.30
600121127 DAVIS,ROBERT 22 FAIRVIEW AVE CORTE MADERA CA 94925 $527,197.50
600121134 RAICHART,JACK 22610 HIDDEN HILLS ROA YORBA LINDA CA 92887 $496,912.85
600121136 BASKETTE,DONALD 595 COVE WAY BENICIA CA 94510 $228,426.06
600121151 PILOTTE,GREGORY 6524 LONGVIEW LANE LOUISVILLE KY 40222 $510,962.47
600121154 ANNESS,THOMAS 5594 KINGWOOD LANE GIRARD OH 44420 $243,505.56
600121173 PLATZ,THOMAS 42244 SHULOCK DRIVE CLINTON TOWNSHI MI 48038 $227,677.12
600121174 MURRAY,KURT 3675 POWER DR CARMEL IN 46033 $279,623.00
600121200 MILLER,JOHN 3801 WOODLAWN DRIVE NASHVILLE TN 37215 $614,129.06
600121221 LEVY,A 673 SAINT PAUL ST DENVER CO 80206 $499,326.79
600121247 GROVES,FREDERICK 7835 MEADOW VISTA DRI RENO NV 89511 $230,864.26
600121271 MALVAEZ,MANUEL 1905 BISSONNET AVENUE HOUSTON TX 77005 $231,840.34
600121276 KENNEDY,JAMES 4840 ECHO RIDGE ROAD ROCKLIN CA 95677 $236,528.68
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121110 MADUREIRA,ANTONIO 8.000 .250 7.750 .0400 7.710 11/01/2027
600121121 OTTO,JAMES 7.750 .250 7.500 .0400 7.460 11/01/2027
600121127 DAVIS,ROBERT 7.500 .250 7.250 .0400 7.210 11/01/2027
600121134 RAICHART,JACK 7.875 .250 7.625 .0400 7.585 11/01/2027
600121136 BASKETTE,DONALD 7.750 .250 7.500 .0400 7.460 11/01/2027
600121151 PILOTTE,GREGORY 8.000 .250 7.750 .0400 7.710 10/01/2027
600121154 ANNESS,THOMAS 8.000 .250 7.750 .0400 7.710 10/01/2027
600121173 PLATZ,THOMAS 7.750 .250 7.500 .0400 7.460 11/01/2027
600121174 MURRAY,KURT 8.000 .250 7.750 .0400 7.710 11/01/2027
600121200 MILLER,JOHN 7.750 .250 7.500 .0400 7.460 11/01/2027
600121221 LEVY,A 8.000 .250 7.750 .0400 7.710 11/01/2027
600121247 GROVES,FREDERICK 7.625 .250 7.375 .0400 7.335 11/01/2027
600121271 MALVAEZ,MANUEL 7.875 .250 7.625 .0400 7.585 12/01/2027
600121276 KENNEDY,JAMES 7.625 .250 7.375 .0400 7.335 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>
600121110 MADUREIRA,ANTONIO 1506362775 $4,769.47 01/01/1998 360
600121121 OTTO,JAMES 1506369005 $4,298.48 01/01/1998 360
600121127 DAVIS,ROBERT 1506370718 $3,691.86 01/01/1998 360
600121134 RAICHART,JACK 1506376758 $3,607.95 01/01/1998 360
600121136 BASKETTE,DONALD 1506377466 $1,638.79 01/01/1998 360
600121151 PILOTTE,GREGORY 1507322277 $3,756.88 01/01/1998 360
600121154 ANNESS,THOMAS 1507325694 $1,790.39 01/01/1998 360
600121173 PLATZ,THOMAS 1507338812 $1,633.42 01/01/1998 360
600121174 MURRAY,KURT 1507340508 $2,054.54 01/01/1998 360
600121200 MILLER,JOHN 1511199232 $4,405.94 01/01/1998 360
600121221 LEVY,A 1512184252 $3,668.82 01/01/1998 360
600121247 GROVES,FREDERICK 1513207820 $1,636.42 01/01/1998 360
600121271 MALVAEZ,MANUEL 1522025776 $1,682.16 01/01/1998 360
600121276 KENNEDY,JAMES 1550012262 $1,675.35 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121110 MADUREIRA,ANTONIO $833,750.00 N
600121121 OTTO,JAMES $750,000.00 N
600121127 DAVIS,ROBERT $660,000.00 N
600121134 RAICHART,JACK $622,000.00 N
600121136 BASKETTE,DONALD $305,000.00 N
600121151 PILOTTE,GREGORY $640,000.00 N
600121154 ANNESS,THOMAS $305,000.00 N
600121173 PLATZ,THOMAS $285,000.00 N
600121174 MURRAY,KURT $350,000.00 N
600121200 MILLER,JOHN $900,000.00 N
600121221 LEVY,A $645,000.00 N
600121247 GROVES,FREDERICK $289,000.00 N
600121271 MALVAEZ,MANUEL $290,000.00 N
600121276 KENNEDY,JAMES $295,963.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 31
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121285 LEISING,JANET 20418 IRON SPRINGS ROA LOS GATOS CA 95030 $483,683.39
600121286 LONGWELL,DOUGLAS 3583 ROSS ROAD PALO ALTO CA 94303 $542,268.87
600121305 MUNS,J 25600 LOMA PRIETA AVEN LOS GATOS CA 95030 $599,554.71
600121325 ARNBRISTER,KENNETH 4970 NORTH LAKE BLVD CARNELIAN BAY CA 96140 $619,583.98
600121339 NYQUIST,THEODORE 15101 SW HIDDEN HILLS MCMINNVILLE OR 97128 $499,638.11
600121350 CECCHERELLI,WENDY 2336 47TH AVE SW SEATTLE WA 98116 $278,604.87
600121360 WARNER,MARC 1429 E VALLEY ST SEATTLE WA 98112 $547,613.23
600121364 MCCLEAN,STEVEN 7 SW THREE TREE PO BURIEN WA 98166 $497,768.00
600121371 SZOL,EDMUND 4206 E LK SAMMAMISH P ISSAQUAH WA 98029 $571,596.29
600121374 CARKIN,JULIE 315 BLAINE ST SEATTLE WA 98109 $230,337.31
600121388 PHARR,WILLIAM 990 PEACHTREE BATTLE ATLANTA GA 30327 $736,505.48
600121392 JOHNSON,JEROME 505 CHESTNUT ROSE LA ATLANTA GA 30327 $574,573.26
600121397 MAGINN,STEPHEN 519 SOUTH JUANITA AV REDONDO BEACH CA 90277 $599,576.52
600121417 WARD,MARK 4538 EAST EXETER BOUL PHOENIX AZ 85018 $232,635.69
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121285 LEISING,JANET 8.125 .250 7.875 .0400 7.835 12/01/2027
600121286 LONGWELL,DOUGLAS 8.000 .250 7.750 .0400 7.710 11/01/2027
600121305 MUNS,J 7.500 .250 7.250 .0400 7.210 12/01/2027
600121325 ARNBRISTER,KENNETH 8.000 .250 7.750 .0400 7.710 12/01/2027
600121339 NYQUIST,THEODORE 7.625 .250 7.375 .0400 7.335 12/01/2027
600121350 CECCHERELLI,WENDY 7.750 .250 7.500 .0400 7.460 11/01/2027
600121360 WARNER,MARC 7.750 .250 7.500 .0400 7.460 12/01/2027
600121364 MCCLEAN,STEVEN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121371 SZOL,EDMUND 7.750 .250 7.500 .0400 7.460 12/01/2027
600121374 CARKIN,JULIE 7.750 .250 7.500 .0400 7.460 12/01/2027
600121388 PHARR,WILLIAM 8.000 .250 7.750 .0400 7.710 12/01/2027
600121392 JOHNSON,JEROME 7.500 .250 7.250 .0400 7.210 12/01/2027
600121397 MAGINN,STEPHEN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121417 WARD,MARK 7.750 .250 7.500 .0400 7.460 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>
600121285 LEISING,JANET 1561369040 $3,593.69 01/01/1998 360
600121286 LONGWELL,DOUGLAS 1561369436 $3,984.35 01/01/1998 360
600121305 MUNS,J 1561377161 $4,195.29 01/01/1998 360
600121325 ARNBRISTER,KENNETH 1561380508 $4,549.35 01/01/1998 360
600121339 NYQUIST,THEODORE 1565167932 $3,538.97 01/01/1998 360
600121350 CECCHERELLI,WENDY 1565175238 $1,998.80 01/01/1998 360
600121360 WARNER,MARC 1565176376 $3,925.94 01/01/1998 360
600121364 MCCLEAN,STEVEN 1565176650 $3,582.07 01/01/1998 360
600121371 SZOL,EDMUND 1565177641 $4,097.88 01/01/1998 360
600121374 CARKIN,JULIE 1565177903 $1,651.34 01/01/1998 360
600121388 PHARR,WILLIAM 1566114807 $5,407.85 01/01/1998 360
600121392 JOHNSON,JEROME 1566115479 $4,020.49 01/01/1998 360
600121397 MAGINN,STEPHEN 1567209261 $4,298.48 01/01/1998 360
600121417 WARD,MARK 1569187589 $1,667.81 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121285 LEISING,JANET $605,000.00 N
600121286 LONGWELL,DOUGLAS $820,000.00 N
600121305 MUNS,J $1,132,000.00 N
600121325 ARNBRISTER,KENNETH $1,160,000.00 N
600121339 NYQUIST,THEODORE $625,000.00 N
600121350 CECCHERELLI,WENDY $385,000.00 N
600121360 WARNER,MARC $685,000.00 N
600121364 MCCLEAN,STEVEN $686,000.00 N
600121371 SZOL,EDMUND $715,000.00 N
600121374 CARKIN,JULIE $295,000.00 N
600121388 PHARR,WILLIAM $1,200,000.00 N
600121392 JOHNSON,JEROME $940,000.00 N
600121397 MAGINN,STEPHEN $750,000.00 N
600121417 WARD,MARK $291,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 32
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121444 BARNEY,PHILIP 2405 E OAK CREST CIR SPANISH FORK UT 84660 $230,245.40
600121472 CLUFF,BARRY 18 WYNNEWOOD ROAD WELLESLEY MA 02181 $494,316.44
600121477 WILLIAMSON,WARREN 18 WEST AVENUE MARION MA 02378 $427,712.81
600121484 GALINSKI,STEPHEN 58 VINE PLACE STAMFORD CT 06905 $231,819.02
600121511 VERA,ERIC 230 DEVON ROAD BLOOMFIELD HILL MI 48304 $489,263.06
600121518 RANDS,DALE 269 BRANDING LANE SNOWMASS VILLAG CO 81615 $499,647.10
600121566 HITCHCOCK,EMOGENE 5576 BRISTOL LANE MINNETONKA MN 55345 $474,664.75
600121571 TANNER,J 1681 NORTH 2000 WEST PROVO UT 84604 $427,182.73
600121582 SCOTT,LENA 3437 RECTORTOWN ROAD MARSHALL VA 22115 $613,555.60
600121584 KOGAN,LEONID 707 HIGH WOODS DRIVE FRANKLIN LAKES NJ 07417 $592,602.10
600121595 MADIGAN,THOMAS 12012 EDGEPARK COURT ROCKVILLE MD 20854 $479,416.36
600121602 SMALL,FRED 21036 GULICK MILL ROAD LEESBURG VA 20175 $470,332.98
600121603 BRANNING,GARY 18 WOODLAWN DRIVE ANDOVER TOWNSHI NJ 07821 $231,836.25
600121607 WALDSCHMIDT,DIETER 10801 SPRING KNOLL DRI POTOMAC MD 20854 $429,718.72
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121444 BARNEY,PHILIP 8.000 .250 7.750 .0400 7.710 12/01/2027
600121472 CLUFF,BARRY 7.875 .250 7.625 .0400 7.585 11/01/2027
600121477 WILLIAMSON,WARREN 8.000 .250 7.750 .0400 7.710 12/01/2027
600121484 GALINSKI,STEPHEN 7.250 .250 7.000 .0400 6.960 12/01/2027
600121511 VERA,ERIC 7.875 .250 7.625 .0400 7.585 12/01/2027
600121518 RANDS,DALE 7.750 .250 7.500 .0400 7.460 12/01/2027
600121566 HITCHCOCK,EMOGENE 7.750 .250 7.500 .0400 7.460 12/01/2027
600121571 TANNER,J 7.500 .250 7.250 .0400 7.210 12/01/2027
600121582 SCOTT,LENA 7.625 .250 7.375 .0400 7.335 12/01/2027
600121584 KOGAN,LEONID 8.000 .250 7.750 .0400 7.710 12/01/2027
600121595 MADIGAN,THOMAS 8.500 .250 8.250 .0400 8.210 11/01/2027
600121602 SMALL,FRED 7.750 .250 7.500 .0400 7.460 11/01/2027
600121603 BRANNING,GARY 7.750 .250 7.500 .0400 7.460 12/01/2027
600121607 WALDSCHMIDT,DIETER 8.125 .250 7.875 .0400 7.835 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>
600121444 BARNEY,PHILIP 1579065271 $1,690.60 01/01/1998 360
600121472 CLUFF,BARRY 1580066147 $3,589.10 01/01/1998 360
600121477 WILLIAMSON,WARREN 1580066894 $3,140.52 01/01/1998 360
600121484 GALINSKI,STEPHEN 1580067478 $1,582.65 01/01/1998 360
600121511 VERA,ERIC 1581134800 $3,549.94 01/01/1998 360
600121518 RANDS,DALE 1581138323 $3,582.07 01/01/1998 360
600121566 HITCHCOCK,EMOGENE 1583073794 $3,402.96 01/01/1998 360
600121571 TANNER,J 1583075643 $2,989.15 01/01/1998 360
600121582 SCOTT,LENA 1587086812 $4,345.86 01/01/1998 360
600121584 KOGAN,LEONID 1587087870 $4,351.23 01/01/1998 360
600121595 MADIGAN,THOMAS 1587090026 $3,690.79 01/01/1998 360
600121602 SMALL,FRED 1587091380 $3,374.31 01/01/1998 360
600121603 BRANNING,GARY 1587091856 $1,662.08 01/01/1998 360
600121607 WALDSCHMIDT,DIETER 1587092677 $3,192.74 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121444 BARNEY,PHILIP $288,000.00 N
600121472 CLUFF,BARRY $710,000.00 N
600121477 WILLIAMSON,WARREN $535,000.00 N
600121484 GALINSKI,STEPHEN $290,000.00 N
600121511 VERA,ERIC $612,000.00 N
600121518 RANDS,DALE $1,400,000.00 N
600121566 HITCHCOCK,EMOGENE $650,000.00 N
600121571 TANNER,J $570,000.00 N
600121582 SCOTT,LENA $860,000.00 N
600121584 KOGAN,LEONID $870,000.00 N
600121595 MADIGAN,THOMAS $600,000.00 N
600121602 SMALL,FRED $610,000.00 N
600121603 BRANNING,GARY $290,000.00 N
600121607 WALDSCHMIDT,DIETER $595,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 33
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121622 BROWN,HERBERT 2651 HIGHWAY 98 WEST MARY ESTHER FL 32569 $229,829.30
600121631 JOHANSON,SUSAN 5335 NE 31 AVE FORT LAUDERDALE FL 33062 $279,792.19
600121659 VASILEV,STEVE 4900 PALM DRIVE LA CANADA-FLINT CA 91011 $512,637.92
600121660 WHEELER,JOHN 25495 SHAFTER WAY CARMEL CA 93923 $619,583.98
600121664 BOADA,ROBERT 1658 3RD STREET MANHATTAN BEACH CA 90266 $484,158.04
600121665 FITCH,MICHAEL 613 SOUTH IRENA AVEN REDONDO BEACH CA 90277 $479,625.55
600121666 YAHNKER,WILLIAM 5306 LINDA DRIVE TORRANCE CA 90505 $487,599.17
600121669 BRENNER,STEPHEN 2323 DRY CREEK ROAD SAN JOSE CA 95124 $599,192.14
600121675 WIDROW,ROBERTA 759 NORTH ORANGE DRI LOS ANGELES CA 90038 $227,826.51
600121678 MACCORA,JAMES 1940 DRY CREEK ROAD SAN JOSE CA 95124 $544,615.34
600121685 CARR,DAVID 542 ALMAR AVENUE PACIFIC PALISAD CA 90272 $644,309.35
600121703 RUBENSTEIN,EVANS 264 KAHAKO STREET KAILUA HI 96734 $503,610.21
600121742 BALASSIANO,DEBBIE 404 GRAVESEND NECK R BROOKLYN NY 11223 $459,683.43
600121759 REECE,MAURICE 5270 SW LANDING SQUAR PORTLAND OR 97201 $639,548.29
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121622 BROWN,HERBERT 7.500 .250 7.250 .0400 7.210 12/01/2027
600121631 JOHANSON,SUSAN 7.500 .250 7.250 .0400 7.210 12/01/2027
600121659 VASILEV,STEVE 7.750 .250 7.500 .0400 7.460 12/01/2027
600121660 WHEELER,JOHN 8.000 .250 7.750 .0400 7.710 12/01/2027
600121664 BOADA,ROBERT 7.750 .250 7.500 .0400 7.460 12/01/2027
600121665 FITCH,MICHAEL 7.250 .250 7.000 .0400 6.960 12/01/2027
600121666 YAHNKER,WILLIAM 7.375 .250 7.125 .0400 7.085 12/01/2027
600121669 BRENNER,STEPHEN 8.000 .250 7.750 .0400 7.710 11/01/2027
600121675 WIDROW,ROBERTA 7.375 .250 7.125 .0400 7.085 12/01/2027
600121678 MACCORA,JAMES 7.750 .250 7.500 .0400 7.460 12/01/2027
600121685 CARR,DAVID 7.375 .250 7.125 .0400 7.085 12/01/2027
600121703 RUBENSTEIN,EVANS 7.625 .250 7.375 .0400 7.335 12/01/2027
600121742 BALASSIANO,DEBBIE 7.875 .250 7.625 .0400 7.585 12/01/2027
600121759 REECE,MAURICE 7.750 .250 7.500 .0400 7.460 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>
600121622 BROWN,HERBERT 1589143407 $1,608.20 01/01/1998 360
600121631 JOHANSON,SUSAN 1589147408 $1,957.81 01/01/1998 360
600121659 VASILEV,STEVE 1595065024 $3,675.20 01/01/1998 360
600121660 WHEELER,JOHN 1595065137 $4,549.35 01/01/1998 360
600121664 BOADA,ROBERT 1595065443 $3,471.02 01/01/1998 360
600121665 FITCH,MICHAEL 1595065910 $3,274.45 01/01/1998 360
600121666 YAHNKER,WILLIAM 1595066151 $3,370.50 01/01/1998 360
600121669 BRENNER,STEPHEN 1596046116 $4,402.59 01/01/1998 360
600121675 WIDROW,ROBERTA 1596048858 $1,574.74 01/01/1998 360
600121678 MACCORA,JAMES 1596049420 $3,904.45 01/01/1998 360
600121685 CARR,DAVID 1596050882 $4,453.48 01/01/1998 360
600121703 RUBENSTEIN,EVANS 1596053417 $3,567.29 01/01/1998 360
600121742 BALASSIANO,DEBBIE 1500397449 $3,335.32 01/01/1998 360
600121759 REECE,MAURICE 1493011430 $4,585.04 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121622 BROWN,HERBERT $370,000.00 N
600121631 JOHANSON,SUSAN $437,000.00 N
600121659 VASILEV,STEVE $700,000.00 N
600121660 WHEELER,JOHN $775,000.00 N
600121664 BOADA,ROBERT $650,000.00 N
600121665 FITCH,MICHAEL $600,000.00 N
600121666 YAHNKER,WILLIAM $610,000.00 N
600121669 BRENNER,STEPHEN $840,000.00 N
600121675 WIDROW,ROBERTA $288,000.00 N
600121678 MACCORA,JAMES $720,000.00 N
600121685 CARR,DAVID $806,000.00 N
600121703 RUBENSTEIN,EVANS $630,000.00 N
600121742 BALASSIANO,DEBBIE $667,000.00 N
600121759 REECE,MAURICE $800,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 34
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121760 ADAM,FREDERIC 1619A VALLEJO STREET SAN FRANCISCO CA 94123 $503,606.83
600121761 BRENNAN,ROBERT 4 PRENTISS PL 4 MEDFIELD MA 02052 $226,886.25
600121771 GARDENSWARTZ,TED 1100 CEMETERY LN ASPEN CO 81611 $599,128.70
600121794 LYNCH,CHARLES 3136 LA CASA COURT THOUSAND OAKS CA 91360 $235,824.85
600121840 MATHAI,CYRIL 1693 PEMBROKE COURT WESTLAKE VILLAG CA 91362 $649,102.42
600121854 FALKE,MICHAEL 7804 DEVEREUX MANOR C FAIRFAX STATION VA 22039 $628,657.42
600121856 STOKES,MICHAEL 2025 S WHITE PINE LAN BOISE ID 83706 $226,853.18
600121876 NEVIUS,WILLIAM 7562 CORDOBA CIR NAPLES FL 34109 $227,677.12
600121885 POHAR,SRINIVAS 1928 SHUMARD OAK LANE IRVING TX 75063 $232,145.09
600121886 GONZALEZ,JUAN 125 CAMINO BARRANCA EL PASO TX 79912 $624,913.77
600121939 GRANSEE,MARK 10208 217TH CT NE REDMOND WA 98053 $470,867.43
600121942 CANTU,DAVID 9600 HILLTOP RD BELLEVUE WA 98004 $499,638.11
600121945 MAIERS,MARTIN 9925 NE MEADOW LOOP R NEWBERG OR 97132 $277,408.95
600121949 YU,SAMUEL 2684 NUTWOOD TRACE DULUTH GA 30097 $489,145.70
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121760 ADAM,FREDERIC 7.250 .250 7.000 .0400 6.960 12/01/2027
600121761 BRENNAN,ROBERT 7.875 .250 7.625 .0400 7.585 11/01/2027
600121771 GARDENSWARTZ,TED 7.625 .250 7.375 .0400 7.335 11/01/2027
600121794 LYNCH,CHARLES 7.500 .250 7.250 .0400 7.210 12/01/2027
600121840 MATHAI,CYRIL 7.875 .250 7.625 .0400 7.585 11/01/2027
600121854 FALKE,MICHAEL 7.750 .250 7.500 .0400 7.460 10/01/2027
600121856 STOKES,MICHAEL 7.375 .250 7.125 .0400 7.085 11/01/2027
600121876 NEVIUS,WILLIAM 7.750 .250 7.500 .0400 7.460 11/01/2027
600121885 POHAR,SRINIVAS 7.375 .250 7.125 .0400 7.085 11/01/2027
600121886 GONZALEZ,JUAN 7.750 .250 7.500 .0400 7.460 11/01/2027
600121939 GRANSEE,MARK 7.750 .250 7.500 .0400 7.460 12/01/2027
600121942 CANTU,DAVID 7.625 .250 7.375 .0400 7.335 12/01/2027
600121945 MAIERS,MARTIN 7.875 .250 7.625 .0400 7.585 12/01/2027
600121949 YU,SAMUEL 7.625 .250 7.375 .0400 7.335 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>
600121760 ADAM,FREDERIC 1494003460 $3,438.17 01/01/1998 360
600121761 BRENNAN,ROBERT 1500367550 $1,647.36 01/01/1998 360
600121771 GARDENSWARTZ,TED 1513198263 $4,246.77 01/01/1998 360
600121794 LYNCH,CHARLES 1596053563 $1,650.15 01/01/1998 360
600121840 MATHAI,CYRIL 1506351393 $4,712.95 01/01/1998 360
600121854 FALKE,MICHAEL 1507303294 $4,513.40 01/01/1998 360
600121856 STOKES,MICHAEL 1507328830 $1,569.21 01/01/1998 360
600121876 NEVIUS,WILLIAM 1511202621 $1,633.42 01/01/1998 360
600121885 POHAR,SRINIVAS 1512182381 $1,605.82 01/01/1998 360
600121886 GONZALEZ,JUAN 1512182472 $4,483.31 01/01/1998 360
600121939 GRANSEE,MARK 1565175012 $3,375.74 01/01/1998 360
600121942 CANTU,DAVID 1565175839 $3,538.97 01/01/1998 360
600121945 MAIERS,MARTIN 1565177109 $2,012.80 01/01/1998 360
600121949 YU,SAMUEL 1566111875 $3,464.66 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121760 ADAM,FREDERIC $630,000.00 N
600121761 BRENNAN,ROBERT $287,000.00 N
600121771 GARDENSWARTZ,TED $800,000.00 N
600121794 LYNCH,CHARLES $295,000.00 N
600121840 MATHAI,CYRIL $845,000.00 N
600121854 FALKE,MICHAEL $835,000.00 N
600121856 STOKES,MICHAEL $284,000.00 N
600121876 NEVIUS,WILLIAM $285,000.00 N
600121885 POHAR,SRINIVAS $310,000.00 N
600121886 GONZALEZ,JUAN $950,000.00 N
600121939 GRANSEE,MARK $589,000.00 N
600121942 CANTU,DAVID $625,000.00 N
600121945 MAIERS,MARTIN $347,000.00 N
600121949 YU,SAMUEL $699,425.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 35
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121951 HADLEY,BRYAN 1970 LONG HOLLOW LANE ALPHARETTA GA 30004 $499,578.96
600121956 KESSLER,TODD 3402 GLEN DEVON LANE BERKELEY LAKE GA 30136 $229,829.30
600121961 CARLSON,ROBERT 16263 WINDPIPER ROAD POWAY CA 92064 $491,661.40
600121971 READ,JOHATHAN 7655 NORTH 71ST STREE PARADISE VALLEY AZ 85253 $649,574.80
600121982 BURGESS,SHARON 709 EAGLE DRIVE LAKE OZARK MO 65049 $230,245.40
600122001 COHEN,BARRY 8121 FALLS LN PARKLAND FL 33067 $499,638.11
600122004 FLYNN,BRIAN 13835 TORTUGA POINT DR JACKSONVILLE FL 32225 $454,494.83
600122020 HASSELL,VINCENT 11 EL CORZO RANCHO SANTA MA CA 92688 $232,527.30
600122022 SPIEGEL,BRADLEY 1684 OAKCOTTAGE COURT THOUSAND OAKS CA 91361 $499,647.10
600122038 LOCKWOOD,JERAD 1409 MAYHURST BOULEVA MCLEAN VA 22102 $535,812.44
600122041 FLAHERTY,THOMAS 54 WARWICK STONE WA GREAT FALLS VA 22066 $495,772.47
600122047 WONG,CHENG 885 PARK AVENUE 12A NEW YORK NY 10021 $699,575.93
600122049 LOWE,FRANKLIN 171 W.71ST ST. APT 4 NEW YORK NY 10023 $559,633.68
600122060 GUARNACCIO,PHILIP 444 E 86TH ST NEW YORK NY 10028 $228,850.20
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121951 HADLEY,BRYAN 7.500 .250 7.250 .0400 7.210 12/01/2027
600121956 KESSLER,TODD 7.500 .250 7.250 .0400 7.210 12/01/2027
600121961 CARLSON,ROBERT 7.875 .250 7.625 .0400 7.585 12/01/2027
600121971 READ,JOHATHAN 8.125 .250 7.875 .0400 7.835 12/01/2027
600121982 BURGESS,SHARON 8.000 .250 7.750 .0400 7.710 12/01/2027
600122001 COHEN,BARRY 7.625 .250 7.375 .0400 7.335 12/01/2027
600122004 FLYNN,BRIAN 8.000 .250 7.750 .0400 7.710 12/01/2027
600122020 HASSELL,VINCENT 7.500 .250 7.250 .0400 7.210 12/01/2027
600122022 SPIEGEL,BRADLEY 7.750 .250 7.500 .0400 7.460 12/01/2027
600122038 LOCKWOOD,JERAD 7.000 .250 6.750 .0400 6.710 12/01/2027
600122041 FLAHERTY,THOMAS 7.375 .250 7.125 .0400 7.085 12/01/2027
600122047 WONG,CHENG 8.500 .250 8.250 .0400 8.210 12/01/2027
600122049 LOWE,FRANKLIN 8.125 .250 7.875 .0400 7.835 12/01/2027
600122060 GUARNACCIO,PHILIP 8.125 .250 7.875 .0400 7.835 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>
600121951 HADLEY,BRYAN 1566112459 $3,495.73 01/01/1998 360
600121956 KESSLER,TODD 1566114308 $1,608.20 01/01/1998 360
600121961 CARLSON,ROBERT 1567206751 $3,567.35 01/01/1998 360
600121971 READ,JOHATHAN 1569186724 $4,826.24 01/01/1998 360
600121982 BURGESS,SHARON 1583049166 $1,690.60 01/01/1998 360
600122001 COHEN,BARRY 1589145752 $3,538.97 01/01/1998 360
600122004 FLYNN,BRIAN 1590050369 $3,337.17 01/01/1998 360
600122020 HASSELL,VINCENT 1595065589 $1,627.08 01/01/1998 360
600122022 SPIEGEL,BRADLEY 1596049781 $3,582.07 01/01/1998 360
600122038 LOCKWOOD,JERAD 1761110290 $3,567.70 01/01/1998 360
600122041 FLAHERTY,THOMAS 1761118826 $3,426.79 01/01/1998 360
600122047 WONG,CHENG 1106092174 $5,382.40 01/01/1998 360
600122049 LOWE,FRANKLIN 1106094726 $4,157.99 01/01/1998 360
600122060 GUARNACCIO,PHILIP 1111134262 $1,700.32 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121951 HADLEY,BRYAN $630,000.00 N
600121956 KESSLER,TODD $330,393.00 N
600121961 CARLSON,ROBERT $615,000.00 N
600121971 READ,JOHATHAN $990,000.00 N
600121982 BURGESS,SHARON $370,000.00 N
600122001 COHEN,BARRY $630,000.00 N
600122004 FLYNN,BRIAN $640,000.00 N
600122020 HASSELL,VINCENT $293,000.00 N
600122022 SPIEGEL,BRADLEY $650,000.00 N
600122038 LOCKWOOD,JERAD $670,315.00 N
600122041 FLAHERTY,THOMAS $850,000.00 N
600122047 WONG,CHENG $4,000,000.00 N
600122049 LOWE,FRANKLIN $1,100,000.00 N
600122060 GUARNACCIO,PHILIP $329,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 36
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600122062 MIRRA,SUZANNE 111 HICKS ST #22A BROOKLYN NY 11201 $231,844.33
600122099 SOLOMON,ARON 2515 OCEAN AVE BROOKLYN NY 11229 $227,850.85
600122101 GODIK,EDUARD 1 THORNBROOK LANE SUFFERN NY 10901 $230,972.45
600122103 THOOFT,DOUGLAS 22708 DARK HORSE LN HAMPTON MN 55031 $232,352.28
600122104 TRINH,MINH 14771 FEATHERHILL RD TUSTIN CA 92780 $231,679.63
600122110 CASEY,JEFFREY 24 ANGELICA DRIVE AVONDALE PA 19311 $244,913.49
600122112 OVERTON,RACHEL 8 WEST 65TH ST UNI NEW YORK NY 10022 $278,798.06
600122113 SOTO,JORGE 2921 CRYSTAL BAY DR LAS VEGAS NV 89117 $227,603.58
600122115 MANFREDI,VINCENT 1790 CASTRO HILL AVE HENDERSON NV 89014 $238,408.69
600122121 MEARNS,ROBERT 1796 LEE JANZEN DRIVE KISSIMMEE FL 34744 $227,839.08
600122127 IGLESIAS,RAITZA 12920 SW 99 AVENUE MIAMI FL 33176 $337,267.73
600122130 ARNETT,CLAUDE 1400 MARKHAM WAY SACRAMENTO CA 95818 $229,329.68
600122134 DUPRE,DARREN 13 REINSWAY CIRCLE WESTFORD MA 01886 $277,082.67
600122135 BRADLEY,MICHAEL 8 ABBEY ROAD MERRIMACK NH 03054 $229,757.10
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600122062 MIRRA,SUZANNE 8.000 .250 7.750 .0400 7.710 12/01/2027
600122099 SOLOMON,ARON 8.125 .250 7.875 .0400 7.835 12/01/2027
600122101 GODIK,EDUARD 7.750 .250 7.500 .0400 7.460 11/01/2027
600122103 THOOFT,DOUGLAS 8.250 .250 8.000 .0400 7.960 11/01/2027
600122104 TRINH,MINH 7.875 .250 7.625 .0400 7.585 11/01/2027
600122110 CASEY,JEFFREY 7.375 .250 7.125 .0400 7.085 12/01/2027
600122112 OVERTON,RACHEL 7.625 .250 7.375 .0400 7.335 12/01/2027
600122113 SOTO,JORGE 8.750 .250 8.500 .0400 8.460 10/01/2027
600122115 MANFREDI,VINCENT 7.875 .250 7.625 .0400 7.585 08/01/2027
600122121 MEARNS,ROBERT 7.750 .250 7.500 .0400 7.460 12/01/2027
600122127 IGLESIAS,RAITZA 7.875 .250 7.625 .0400 7.585 12/01/2027
600122130 ARNETT,CLAUDE 7.500 .250 7.250 .0400 7.210 12/01/2027
600122134 DUPRE,DARREN 7.875 .250 7.625 .0400 7.585 12/01/2027
600122135 BRADLEY,MICHAEL 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>
600122062 MIRRA,SUZANNE 1111136971 $1,702.34 01/01/1998 360
600122099 SOLOMON,ARON 1500381289 $1,692.90 2 01/01/1998 360
600122101 GODIK,EDUARD 1500393572 $1,657.06 2 01/01/1998 360
600122103 THOOFT,DOUGLAS 1504175744 $1,747.82 2 01/01/1998 360
600122104 TRINH,MINH 1506353730 $1,682.16 2 01/01/1998 360
600122110 CASEY,JEFFREY 1587069267 $1,692.85 2 01/01/1998 360
600122112 OVERTON,RACHEL 1111135833 $1,974.75 2 01/01/1998 360
600122113 SOTO,JORGE 1506331603 $1,793.68 2 01/01/1998 360
600122115 MANFREDI,VINCENT 1513164476 $1,735.82 2 01/01/1998 360
600122121 MEARNS,ROBERT 1590059851 $1,633.42 2 01/01/1998 360
600122127 IGLESIAS,RAITZA 1311306725 $2,447.11 3 01/01/1998 360
600122130 ARNETT,CLAUDE 1550011689 $1,604.70 3 01/01/1998 360
600122134 DUPRE,DARREN 1813089864 $2,025.12 3 01/01/1998 360
600122135 BRADLEY,MICHAEL 1815022503 $1,747.41 3 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600122062 MIRRA,SUZANNE $290,000.00 N
600122099 SOLOMON,ARON $240,000.00 N
600122101 GODIK,EDUARD $257,000.00 N
600122103 THOOFT,DOUGLAS $244,900.00 N
600122104 TRINH,MINH $258,000.00 N
600122110 CASEY,JEFFREY $260,000.00 N
600122112 OVERTON,RACHEL $310,000.00 N
600122113 SOTO,JORGE $240,000.00 N
600122115 MANFREDI,VINCENT $252,000.00 N
600122121 MEARNS,ROBERT $240,000.00 N
600122127 IGLESIAS,RAITZA $375,000.00 N
600122130 ARNETT,CLAUDE $255,000.00 N
600122134 DUPRE,DARREN $294,000.00 N
600122135 BRADLEY,MICHAEL $242,089.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 37
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600122137 ARAI,TARO 13 HUNTINGDON FARM GLEN MILLS PA 19342 $230,183.28
600122143 MOORE,DAVID 454 BELLE LANE HARLEYSVILLE PA 19438 $232,675.76
600122145 MITCHELL,PATRICK 18165 GREEN LAKES CT BATON ROUGE LA 70810 $278,584.59
600122155 NICHOLS,JAMES 17525 BOTHELL WAY NE SEATTLE WA 98155 $278,489.34
600122162 SCHOENNAGEL,FREDERICK 6471 DOVE CT LIVERMORE CA 94550 $232,146.78
600122164 NAIL,CHARLES 370 STONE MILL TRAIL ATLANTA GA 30328 $230,687.07
600122173 MATHIEU,ALIX 4641 NW 27TH AVENUE BOCA RATON FL 33434 $278,798.07
600122174 MIZE,ROBERT 5324 LAKE BLUFF TERRA SANFORD FL 32771 $229,034.94
600122175 ADARLO,CARLOS 1205 S MAYFAIR AVE DALY CITY CA 94015 $233,934.61
600122180 LAMBETH,JESSE 3 ST ANDREWS COURT TROPHY CLUB TX 76262 $232,241.39
600122194 DAVE,KIRTI 1416 SAPPHIRE DRAGON THOUSAND OAKS CA 91320 $235,509.10
600122214 HOFACKER,DANIEL 19 GUINEVERE ROAD SPOTSWOOD NJ 08884 $242,702.15
600122216 COFINI,JOHN LOT 42 THORN LANE NANUET NY 10954 $247,783.63
600122239 DAVIS,STEPHEN 1017 SAFFRON DR MECHANICSBURG PA 17055 $246,004.75
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600122137 ARAI,TARO 7.625 .250 7.375 .0400 7.335 12/01/2027
600122143 MOORE,DAVID 7.875 .250 7.625 .0400 7.585 11/01/2027
600122145 MITCHELL,PATRICK 7.500 .250 7.250 .0400 7.210 11/01/2027
600122155 NICHOLS,JAMES 8.500 .250 8.250 .0400 8.210 10/01/2027
600122162 SCHOENNAGEL,FREDERICK 7.750 .250 7.500 .0400 7.460 11/01/2027
600122164 NAIL,CHARLES 7.750 .250 7.500 .0400 7.460 12/01/2027
600122173 MATHIEU,ALIX 7.625 .250 7.375 .0400 7.335 12/01/2027
600122174 MIZE,ROBERT 8.000 .250 7.750 .0400 7.710 10/01/2027
600122175 ADARLO,CARLOS 8.000 .250 7.750 .0400 7.710 11/01/2027
600122180 LAMBETH,JESSE 7.625 .250 7.375 .0400 7.335 10/01/2027
600122194 DAVE,KIRTI 7.500 .250 7.250 .0400 7.210 11/01/2027
600122214 HOFACKER,DANIEL 7.375 .250 7.125 .0400 7.085 09/01/2027
600122216 COFINI,JOHN 8.000 .250 7.750 .0400 7.710 12/01/2027
600122239 DAVIS,STEPHEN 7.125 .250 6.875 .0400 6.835 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>
600122137 ARAI,TARO 1171164771 $1,630.40 3 01/01/1998 360
600122143 MOORE,DAVID 1500399728 $1,693.77 12 01/01/1998 360
600122145 MITCHELL,PATRICK 1504179009 $1,950.81 12 01/01/1998 360
600122155 NICHOLS,JAMES 1507323666 $2,145.27 12 01/01/1998 360
600122162 SCHOENNAGEL,FREDERICK 1513205290 $1,665.49 12 01/01/1998 360
600122164 NAIL,CHARLES 1566113338 $1,653.84 12 01/01/1998 360
600122173 MATHIEU,ALIX 1301133041 $1,974.74 12 01/01/1998 360
600122174 MIZE,ROBERT 1500388095 $1,683.99 12 01/01/1998 360
600122175 ADARLO,CARLOS 1506367790 $1,718.84 12 01/01/1998 360
600122180 LAMBETH,JESSE 1512175965 $1,647.39 12 01/01/1998 360
600122194 DAVE,KIRTI 1506357640 $1,649.45 14 01/01/1998 360
600122214 HOFACKER,DANIEL 1106029407 $1,681.45 01/01/1998 360
600122216 COFINI,JOHN 1106074490 $1,819.37 01/01/1998 360
600122239 DAVIS,STEPHEN 1171170480 $1,660.04 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600122137 ARAI,TARO $242,515.00 N
600122143 MOORE,DAVID $245,900.00 N
600122145 MITCHELL,PATRICK $310,000.00 N
600122155 NICHOLS,JAMES $310,000.00 N
600122162 SCHOENNAGEL,FREDERICK $290,596.00 N
600122164 NAIL,CHARLES $243,000.00 N
600122173 MATHIEU,ALIX $310,000.00 N
600122174 MIZE,ROBERT $255,000.00 N
600122175 ADARLO,CARLOS $265,000.00 N
600122180 LAMBETH,JESSE $245,000.00 N
600122194 DAVE,KIRTI $262,125.00 N
600122214 HOFACKER,DANIEL $304,364.00 N
600122216 COFINI,JOHN $309,972.00 N
600122239 DAVIS,STEPHEN $308,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 38
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600122254 COE,TERRY 714 ENRIGHT AVENUE SANTA CLARA CA 95050 $227,412.41
600122285 HORODECKI,JOHN 2122 WEST SUPERIOR ST CHICAGO IL 60612 $247,648.79
600122289 WHITMORE,REYNOLDS 2874 COUNTRY WOODS CT FINKSBURG MD 21048 $239,608.20
600122290 HAMMOND,JOHN 14001 GLEN HIGH ROAD BALTIMORE MD 21013 $239,843.00
600122318 MALINE,EDWARD 9575 PARKVIEW AVE BOCA RATON FL 33428 $243,328.13
600122351 THOMPSON,WILLIAM 2609 GREENBRIAR ESTAT ST LOUIS MO 63122 $244,477.88
600123397 Plant 313 Chattolanee Hill Road Owings Mills MD 21117 $321,385.47
610000040 RON,LORELEI FOLL 1897 NORTH CALLE SALTO THOUSANDS OAKS CA 91360 $511,218.42
610000043 MY-LY TA 45982 TISSIACK PLACE FREMONT CA 94539 $462,510.33
610000058 TOMMY,BENTE LARSEN 1783 KINGS ROAD VISTA CA 92084 $542,211.49
610000063 JOHN/CHRISTINA FRANGOS/ 5901 LA JOLLA MESA DRIVE LA JOLLA AREA CA 92037 $593,137.44
610000071 ALBERT,LAURIE FARAH 5571 CLOVER HILL DRIVE YORBA LINDA CA 92886 $627,110.66
610000072 DAVID,DEBORAH LEMIRE 20766 SAINT JOAN COURT SARATOGA CA 95070 $649,079.51
610000091 ADRIAN KING 388 TERRACE VIEW DRIVE STATELINE NV 89449 $648,183.86
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600122254 COE,TERRY 8.250 .250 8.000 .0400 7.960 09/01/2027
600122285 HORODECKI,JOHN 7.750 .250 7.500 .0400 7.460 11/01/2027
600122289 WHITMORE,REYNOLDS 7.750 .250 7.500 .0400 7.460 11/01/2027
600122290 HAMMOND,JOHN 8.125 .250 7.875 .0400 7.835 12/01/2027
600122318 MALINE,EDWARD 7.750 .250 7.500 .0400 7.460 12/01/2027
600122351 THOMPSON,WILLIAM 7.750 .250 7.500 .0400 7.460 10/01/2027
600123397 Plant 7.750 .250 7.500 .0500 7.450 09/01/2025
610000040 RON,LORELEI FOLL 7.375 .250 7.125 .0500 7.075 11/01/2027
610000043 MY-LY TA 7.500 .250 7.250 .0500 7.200 11/01/2027
610000058 TOMMY,BENTE LARSEN 7.625 .250 7.375 .0500 7.325 11/01/2027
610000063 JOHN/CHRISTINA FRANGOS/ 7.625 .250 7.375 .0500 7.325 11/01/2027
610000071 ALBERT,LAURIE FARAH 7.750 .250 7.500 .0500 7.450 11/01/2027
610000072 DAVID,DEBORAH LEMIRE 7.750 .250 7.500 .0500 7.450 11/01/2027
610000091 ADRIAN KING 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>
600122254 COE,TERRY 1506301056 $1,712.89 01/01/1998 360
600122285 HORODECKI,JOHN 1583054213 $1,776.71 01/01/1998 360
600122289 WHITMORE,REYNOLDS 1587088578 $1,719.39 01/01/1998 360
600122290 HAMMOND,JOHN 1587091211 $1,782.00 01/01/1998 360
600122318 MALINE,EDWARD 1589147714 $1,744.47 01/01/1998 360
600122351 THOMPSON,WILLIAM 1632026904 $1,755.21 12 01/01/1998 360
600123397 Plant 39019971 $2,399.99 01/01/1998 360
610000040 RON,LORELEI FOLL 0092469625 $3,536.26 01/01/1998 360
610000043 MY-LY TA 0092469632 $3,238.76 01/01/1998 360
610000058 TOMMY,BENTE LARSEN 0092469657 $3,843.32 01/01/1998 360
610000063 JOHN/CHRISTINA FRANGOS/ 0092469665 $4,204.29 01/01/1998 360
610000071 ALBERT,LAURIE FARAH 0092469677 $4,499.07 01/01/1998 360
610000072 DAVID,DEBORAH LEMIRE 0092469680 $4,656.68 01/01/1998 360
610000091 ADRIAN KING 0092469696 $4,765.80 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600122254 COE,TERRY $300,000.00 N
600122285 HORODECKI,JOHN $360,000.00 N
600122289 WHITMORE,REYNOLDS $340,000.00 N
600122290 HAMMOND,JOHN $306,000.00 N
600122318 MALINE,EDWARD $324,900.00 N
600122351 THOMPSON,WILLIAM $285,000.00 N
600123397 Plant .00 .00 .00 .000 .250 .300 $450,000.00 N
610000040 RON,LORELEI FOLL .00 .00 .00 .000 .250 .300 $640,000.00 N
610000043 MY-LY TA .00 .00 .00 .000 .250 .300 $579,000.00 N
610000058 TOMMY,BENTE LARSEN .00 .00 .00 .000 .250 .300 $678,750.00 N
610000063 JOHN/CHRISTINA FRANGOS/ .00 .00 .00 .000 .250 .300 $792,000.00 N
610000071 ALBERT,LAURIE FARAH .00 .00 .00 .000 .250 .300 $850,000.00 N
610000072 DAVID,DEBORAH LEMIRE .00 .00 .00 .000 .250 .300 $815,000.00 N
610000091 ADRIAN KING .00 .00 .00 .000 .250 .300 $1,100,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 39
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
610000092 RICHARD/SUSAN CABIN/MA 528 SEAWARD ROAD NEWPORT BEACH CA 92625 $486,843.62
610000095 RONALD JACOBSEN 1611 NORTH ORANGE GROVE A LOS ANGELES CA 90046 $456,884.01
610000096 KAREN,EDWARD PORRAZZO 3701 CLAIR DRIVE CARMICHAEL CA 95608 $606,549.23
610000099 PHILLIP,GLORIA STUBENRA 3215 115TH AVENUE NORTHWE GIG HARBOR WA 98335 $425,241.05
610000104 RICHARD,LINDA GIBBS 6744 DUME DRIVE MALIBU CA 90265 $739,076.89
610000106 MICHAEL,BETSY MARTINEZ 9836 WEXFORD CIRCLE GRANITE BAY CA 95746 $694,133.03
610000109 STEPHANIE J WOLFSWIN 3145 LANDS END ROAD COEUR D ALENE ID 83814 $491,598.47
610000111 ROBERT L GRANATO 2194 INDIAN CREEK ROAD DIAMOND BAR CA 91765 $499,392.05
610000112 STANLEY,MONICA SHEPPARD 15 WEST SUMMIT DRIVE REDWOOD CITY CA 94062 $459,440.69
610000113 RAJIV,ANURADHA THAREJA 19453 DEHAVILLAND DRIVE SARATOGA CA 95070 $543,088.85
610000116 DONEL ELSHIRE 16252 RASCAL LANE HUNTINGTON BEAC CA 92649 $471,157.97
610000117 PETER KNECHT 36 SUNSET DRIVE WATSONVILLE CA 95076 $611,792.65
610000118 VICTORIA COLE 4075 17TH STREET SAN FRANCISCO CA 94114 $468,222.47
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
610000092 RICHARD/SUSAN CABIN/MA 8.000 .250 7.750 .0500 7.700 11/01/2027
610000095 RONALD JACOBSEN 8.000 .250 7.750 .0500 7.700 11/01/2027
610000096 KAREN,EDWARD PORRAZZO 8.125 .250 7.875 .0500 7.825 10/01/2027
610000099 PHILLIP,GLORIA STUBENRA 8.125 .250 7.875 .0500 7.825 11/01/2027
610000104 RICHARD,LINDA GIBBS 8.375 .250 8.125 .0500 8.075 11/01/2027
610000106 MICHAEL,BETSY MARTINEZ 8.375 .250 8.125 .0500 8.075 11/01/2027
610000109 STEPHANIE J WOLFSWIN 8.500 .250 8.250 .0500 8.200 10/01/2027
610000111 ROBERT L GRANATO 8.500 .250 8.250 .0500 8.200 11/01/2027
610000112 STANLEY,MONICA SHEPPARD 8.500 .250 8.250 .0500 8.200 11/01/2027
610000113 RAJIV,ANURADHA THAREJA 8.500 .250 8.250 .0500 8.200 11/01/2027
610000116 DONEL ELSHIRE 8.625 .250 8.375 .0500 8.325 10/01/2027
610000117 PETER KNECHT 8.750 .250 8.500 .0500 8.450 11/01/2027
610000118 VICTORIA COLE 8.875 .250 8.625 .0500 8.575 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>
610000092 RICHARD/SUSAN CABIN/MA 0092469698 $3,577.10 01/01/1998 360
610000095 RONALD JACOBSEN 0092469716 $3,356.97 01/01/1998 360
610000096 KAREN,EDWARD PORRAZZO 0092469717 $4,512.53 01/01/1998 360
610000099 PHILLIP,GLORIA STUBENRA 0092469731 $3,161.55 01/01/1998 360
610000104 RICHARD,LINDA GIBBS 0092469741 $5,624.53 01/01/1998 360
610000106 MICHAEL,BETSY MARTINEZ 0092469743 $5,282.50 01/01/1998 360
610000109 STEPHANIE J WOLFSWIN 0092469750 $3,786.90 01/01/1998 360
610000111 ROBERT L GRANATO 0092469753 $3,844.57 01/01/1998 360
610000112 STANLEY,MONICA SHEPPARD 0092469754 $3,537.00 01/01/1998 360
610000113 RAJIV,ANURADHA THAREJA 0092469755 $4,180.97 01/01/1998 360
610000116 DONEL ELSHIRE 0092469759 $3,671.17 01/01/1998 360
610000117 PETER KNECHT 0092469760 $4,818.54 01/01/1998 360
610000118 VICTORIA COLE 0092469761 $3,729.59 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
610000092 RICHARD/SUSAN CABIN/MA .00 .00 .00 .000 .250 .300 $650,000.00 N
610000095 RONALD JACOBSEN .00 .00 .00 .000 .250 .300 $610,000.00 N
610000096 KAREN,EDWARD PORRAZZO .00 .00 .00 .000 .250 .300 $975,000.00 N
610000099 PHILLIP,GLORIA STUBENRA .00 .00 .00 .000 .250 .300 $650,000.00 N
610000104 RICHARD,LINDA GIBBS .00 .00 .00 .000 .250 .300 $925,000.00 N
610000106 MICHAEL,BETSY MARTINEZ .00 .00 .00 .000 .250 .300 $950,000.00 N
610000109 STEPHANIE J WOLFSWIN .00 .00 .00 .000 .250 .300 $625,000.00 N
610000111 ROBERT L GRANATO .00 .00 .00 .000 .250 .300 $725,000.00 N
610000112 STANLEY,MONICA SHEPPARD .00 .00 .00 .000 .250 .300 $575,000.00 N
610000113 RAJIV,ANURADHA THAREJA .00 .00 .00 .000 .250 .300 $725,000.00 N
610000116 DONEL ELSHIRE .00 .00 .00 .000 .250 .300 $590,000.00 N
610000117 PETER KNECHT .00 .00 .00 .000 .250 .300 $893,000.00 N
610000118 VICTORIA COLE .00 .00 .00 .000 .250 .300 $625,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 40
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:05:01 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 2 POOL NAME: 1998-1 Group 2
<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
----- ------- ------- --------- --------- -----
<S> <C> <C> <C> <C> <C> <C>
** POOL
** TOTAL 545 1 207,436,432.22 287,841,239.65 208,093,096.00 1,507,131.67
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 1
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
500066716 VAN VICKLE,MELTON & LINDA 4604 AMBSDALE CT ST LOUIS MO 63128 $215,694.10
500066720 MIELICKI,JOSEPH &KATHLEEN 1264 FOXWOOD DRIVE HERMITAGE PA 16148 $218,282.56
500066747 GORHAM,SUSAN A&JOHN MATTH 5450 EAST HARTFORD AVE PHOENIX AZ 85254 $218,034.37
500066753 HETZER,CHRISTOPHER&JODY A 381 WOODSIDE DRIVE CEDARBURG WI 53012 $219,563.78
500066767 WRAY,D MICHAEL& SEMA A 7205 PINETREE RD RICHMOND VA 23229 $218,567.52
500066772 EDWARDS,JAMES & LINDA 9 MEADOWBROOK DR BERRYVILLE VA 22611 $226,702.01
500066784 MURPHY,BRYAN & GLADYS 3317 MILDRED LN LAFAYETTE CA 94549 $217,706.47
600070224 BENNETT ROY SPECTER 16124 KNAPP ST NORTH HILLS CA 91343 $206,927.85
600070266 ROBERT FEDER 10809 65TH RD FOREST HILLS NY 11375 $212,749.43
600070295 ARUP SEN 932 PIER AVENUE SANTA MONICA CA 90401 $174,690.42
600103125 BROWN HELENE 2230 CLEARWOOD CT UNIT 11 SHELBY TWP MI 48316 $196,072.32
600103147 MORGAN SEAN 4111 PINE CREST TRAIL HOUSTON TX 77070 $218,575.61
600103152 RAMOS WALTER 1237 CLASSIC WAY CONCORD CA 94521 $166,954.43
600103175 WOODS JAMES 327 PARADISE CANYON ROAD SALINAS CA 93907 $221,769.71
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
500066716 VAN VICKLE,MELTON & LINDA 7.750 .250 7.500 .0500 7.450 11/01/2027
500066720 MIELICKI,JOSEPH &KATHLEEN 7.625 .250 7.375 .0500 7.325 11/01/2027
500066747 GORHAM,SUSAN A&JOHN MATTH 7.750 .250 7.500 .0500 7.450 10/01/2027
500066753 HETZER,CHRISTOPHER&JODY A 7.625 .250 7.375 .0500 7.325 11/01/2027
500066767 WRAY,D MICHAEL& SEMA A 7.875 .250 7.625 .0500 7.575 11/01/2027
500066772 EDWARDS,JAMES & LINDA 8.125 .250 7.875 .0500 7.825 11/01/2027
500066784 MURPHY,BRYAN & GLADYS 8.000 .250 7.750 .0500 7.700 11/01/2027
600070224 BENNETT ROY SPECTER 8.625 .250 8.375 .0400 8.335 02/01/2022
600070266 ROBERT FEDER 8.625 .250 8.375 .0400 8.335 02/01/2022
600070295 ARUP SEN 9.625 .250 9.375 .0400 9.335 10/01/2020
600103125 BROWN HELENE 6.875 .250 6.625 .0500 6.575 03/01/2026
600103147 MORGAN SEAN 7.500 .250 7.250 .0500 7.200 08/01/2027
600103152 RAMOS WALTER 7.375 .250 7.125 .0500 7.075 08/01/2027
600103175 WOODS 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>
500066716 VAN VICKLE,MELTON & LINDA 8687054 $1,547.46 14 01/01/1998 360
500066720 MIELICKI,JOSEPH &KATHLEEN 0949483 $1,547.24 01/01/1998 360
500066747 GORHAM,SUSAN A&JOHN MATTH 0948710 $1,565.36 12 01/01/1998 360
500066753 HETZER,CHRISTOPHER&JODY A 0948646 $1,557.15 01/01/1998 360
500066767 WRAY,D MICHAEL& SEMA A 0947449 $1,588.27 15 01/01/1998 360
500066772 EDWARDS,JAMES & LINDA 8279715 $1,685.47 12 01/01/1998 360
500066784 MURPHY,BRYAN & GLADYS 8653928 $1,599.61 01/01/1998 360
600070224 BENNETT ROY SPECTER 092458672 $1,703.36 01/01/1998 360
600070266 ROBERT FEDER 092458989 $1,750.03 01/01/1998 360
600070295 ARUP SEN 092458734 $1,631.21 01/01/1998 353
600103125 BROWN HELENE 450340070 $1,313.86 01/01/1998 360
600103147 MORGAN SEAN 450796065 $1,534.08 3 01/01/1998 360
600103152 RAMOS WALTER 450800065 $1,157.58 01/01/1998 360
600103175 WOODS JAMES 450817671 $1,597.60 2 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
500066716 VAN VICKLE,MELTON & LINDA .00 .00 .00 .000 .250 .300 $240,000.00 N
500066720 MIELICKI,JOSEPH &KATHLEEN .00 .00 .00 .000 .250 .300 $291,500.00 N
500066747 GORHAM,SUSAN A&JOHN MATTH .00 .00 .00 .000 .250 .300 $234,000.00 N
500066753 HETZER,CHRISTOPHER&JODY A .00 .00 .00 .000 .250 .300 $278,000.00 N
500066767 WRAY,D MICHAEL& SEMA A .00 .00 .00 .000 .250 .300 $244,000.00 N
500066772 EDWARDS,JAMES & LINDA .00 .00 .00 .000 .250 .300 $255,000.00 N
500066784 MURPHY,BRYAN & GLADYS .00 .00 .00 .000 .250 .300 $275,000.00 N
600070224 BENNETT ROY SPECTER .00 .00 .00 .000 .250 .290 $280,000.00 N
600070266 ROBERT FEDER .00 .00 .00 .000 .250 .290 $330,000.00 N
600070295 ARUP SEN .00 .00 .00 .000 .250 .290 $445,000.00 N
600103125 BROWN HELENE .00 .00 .00 .000 .250 .300 $259,888.00 N
600103147 MORGAN SEAN .00 .00 .00 .000 .250 .300 $230,981.00 N
600103152 RAMOS WALTER .00 .00 .00 .000 .250 .300 $209,500.00 N
600103175 WOODS JAMES .00 .00 .00 .000 .250 .300 $252,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 2
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103177 COX GREGORY 3 DEVON COURT JAMESBURG NJ 8831 $223,294.66
600103181 ENGLENDER SHAUL 31350 COACHLIGHT BINGHAM FAR MI 48025 $223,787.07
600103189 BROOKS GREGORY 880 TARTARIAN SUNNYVALE CA 94987 $209,338.71
600103200 GREEN RICHARD 15 NICHOLE COURT CHESHIRE CT 6410 $221,334.75
600103216 CLARK ROY 16127 W REDONDO DRIVE TRACY CA 95376 $209,135.36
600103217 LEGRAND DONALD 113 NANTUCKET DRIVE MIDDLETOWN DE 19709 $220,775.01
600103231 ESCARENO SIMON 2768 DUBLIN DRIVE SAN JOSE CA 95127 $174,090.44
600103235 WILHIDE MERLE 7396 CHIPWOOD DRIVE NOBLESVILLE IN 46060 $102,181.77
600103236 COLE TENA 1605 CELEBRATION WAY NASHVILLE TN 37211 $146,966.34
600103246 SIKA GREGORY 1023 SWAIN ELMHURST IL 60126 $147,267.49
600103258 DUCCI ELIZABETH 62 REDER ROAD NORTHFIELD CT 6778 $119,724.35
600103259 SCHWARTZ DAVID 14300 SW 74TH COURT MIAMI FL 33158 $221,814.23
600103261 HANCOCK CHARLES 0020 BAUXITE LANE ALMA CO 80420 $197,356.93
600103268 JANLEKHA JAWALIT 808 CALIFORNIA AVENUE VENICE CA 90291 $218,565.90
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103177 COX GREGORY 7.250 .250 7.000 .0500 6.950 09/01/2027
600103181 ENGLENDER SHAUL 7.750 .250 7.500 .0500 7.450 09/01/2027
600103189 BROOKS GREGORY 7.250 .250 7.000 .0500 6.950 09/01/2027
600103200 GREEN RICHARD 7.500 .250 7.250 .0500 7.200 09/01/2027
600103216 CLARK ROY 8.125 .250 7.875 .0500 7.825 10/01/2027
600103217 LEGRAND DONALD 6.750 .250 6.500 .0500 6.450 10/01/2027
600103231 ESCARENO SIMON 8.375 .250 8.125 .0500 8.075 10/01/2027
600103235 WILHIDE MERLE 7.750 .250 7.500 .0500 7.450 10/01/2027
600103236 COLE TENA 8.250 .250 8.000 .0500 7.950 10/01/2027
600103246 SIKA GREGORY 7.625 .250 7.375 .0500 7.325 10/01/2027
600103258 DUCCI ELIZABETH 7.375 .250 7.125 .0500 7.075 10/01/2027
600103259 SCHWARTZ DAVID 7.625 .250 7.375 .0500 7.325 10/01/2027
600103261 HANCOCK CHARLES 7.750 .250 7.500 .0500 7.450 10/01/2027
600103268 JANLEKHA JAWALIT 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>
600103177 COX GREGORY 450818174 $1,528.08 01/01/1998 360
600103181 ENGLENDER SHAUL 450819255 $1,611.93 01/01/1998 360
600103189 BROOKS GREGORY 450824123 $1,432.58 01/01/1998 360
600103200 GREEN RICHARD 450834478 $1,552.26 01/01/1998 360
600103216 CLARK ROY 450843198 $1,556.28 01/01/1998 360
600103217 LEGRAND DONALD 450843214 $1,435.68 2 01/01/1998 360
600103231 ESCARENO SIMON 450848353 $1,335.83 3 01/01/1998 360
600103235 WILHIDE MERLE 450849559 $733.61 01/01/1998 360
600103236 COLE TENA 450849765 $1,106.25 3 01/01/1998 360
600103246 SIKA GREGORY 450853833 $1,044.71 01/01/1998 360
600103258 DUCCI ELIZABETH 450859707 $828.82 01/01/1998 360
600103259 SCHWARTZ DAVID 450860085 $1,573.43 3 01/01/1998 360
600103261 HANCOCK CHARLES 450860440 $1,421.37 01/01/1998 360
600103268 JANLEKHA JAWALIT 450865159 $1,652.79 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103177 COX GREGORY .00 .00 .00 .000 .250 .300 $285,000.00 N
600103181 ENGLENDER SHAUL .00 .00 .00 .000 .250 .300 $300,000.00 N
600103189 BROOKS GREGORY .00 .00 .00 .000 .250 .300 $555,000.00 N
600103200 GREEN RICHARD .00 .00 .00 .000 .250 .300 $303,150.00 N
600103216 CLARK ROY .00 .00 .00 .000 .250 .300 $262,000.00 N
600103217 LEGRAND DONALD .00 .00 .00 .000 .250 .300 $233,000.00 N
600103231 ESCARENO SIMON .00 .00 .00 .000 .250 .300 $185,000.00 N
600103235 WILHIDE MERLE .00 .00 .00 .000 .250 .300 $128,000.00 N
600103236 COLE TENA .00 .00 .00 .000 .250 .300 $155,000.00 N
600103246 SIKA GREGORY .00 .00 .00 .000 .250 .300 $184,500.00 N
600103258 DUCCI ELIZABETH .00 .00 .00 .000 .250 .300 $166,000.00 N
600103259 SCHWARTZ DAVID .00 .00 .00 .000 .250 .300 $247,000.00 N
600103261 HANCOCK CHARLES .00 .00 .00 .000 .250 .300 $248,000.00 N
600103268 JANLEKHA JAWALIT .00 .00 .00 .000 .250 .300 $305,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 3
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103269 MAYNARD JACK 4494 EAST OLNEY AVENUE HIGLEY AZ 85236 $225,969.41
600103276 RIVERO RUBEN 10405 NEWVILLE AVENUE DOWNEY CA 90241 $192,428.56
600103301 JOHNSON STEPHEN 22345 WHIRLAWAY COURT CANYON LAKE CA 92587 $223,783.97
600103313 GRAZIANI JOHN 28801 BALMORAL FARMINGTON MI 48335 $94,694.94
600103314 PRITCHARD MARGARET 3371 BANDIT CIRCLE HUNTINGTON CA 92649 $223,522.63
600103322 MENA NESTOR 534 ROOSEVELT STREET NORTHVALE NJ 7647 $219,688.44
600103335 KEANE HANORA 56 NORTH DRIVE ROCHELLE PA NJ 7662 $44,942.42
600103337 BAUMGARTEN DAVID 1260 INDIAN CREEK DRIVE CHULA VISTA CA 91915 $224,150.74
600103338 CELLA PAUL 1 KING DRIVE BRIDGEWATER NJ 8807 $225,118.53
600103344 LANDY MORACE 396 WILDROSE AVENUE BERGENFIELD NJ 7621 $223,713.34
600103355 ROBINETTE MICHAEL 423 JULIA CIRCLE HANFORD CA 93230 $226,744.28
600103379 EVANS MICHAEL 5204 CALABRIA COURT ALEXANDRIA VA 22315 $211,576.51
600103386 ROSENTHAL LEIGH 178 NORTH MAIN STREET SHARON MA 2067 $200,529.64
600103405 PFLEDERER PATRICK 26 W 415 COOLEY AVENUE WINFIELD IL 60190 $125,126.17
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103269 MAYNARD JACK 7.875 .250 7.625 .0500 7.575 10/01/2027
600103276 RIVERO RUBEN 7.625 .250 7.375 .0500 7.325 10/01/2027
600103301 JOHNSON STEPHEN 7.875 .250 7.625 .0500 7.575 10/01/2027
600103313 GRAZIANI JOHN 8.500 .250 8.250 .0500 8.200 11/01/2027
600103314 PRITCHARD MARGARET 7.750 .250 7.500 .0500 7.450 10/01/2027
600103322 MENA NESTOR 7.750 .250 7.500 .0500 7.450 11/01/2027
600103335 KEANE HANORA 8.250 .250 8.000 .0500 7.950 11/01/2027
600103337 BAUMGARTEN DAVID 7.500 .250 7.250 .0500 7.200 11/01/2027
600103338 CELLA PAUL 7.875 .250 7.625 .0500 7.575 11/01/2027
600103344 LANDY MORACE 8.250 .250 8.000 .0500 7.950 11/01/2027
600103355 ROBINETTE MICHAEL 8.000 .250 7.750 .0500 7.700 11/01/2027
600103379 EVANS MICHAEL 7.375 .250 7.125 .0500 7.075 11/01/2027
600103386 ROSENTHAL LEIGH 8.000 .250 7.750 .0500 7.700 11/01/2027
600103405 PFLEDERER PATRICK 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>
600103269 MAYNARD JACK 450865258 $1,641.85 2 01/01/1998 360
600103276 RIVERO RUBEN 450867577 $1,364.99 3 01/01/1998 360
600103301 JOHNSON STEPHEN 450875539 $1,625.97 01/01/1998 360
600103313 GRAZIANI JOHN 450878277 $730.47 01/01/1998 360
600103314 PRITCHARD MARGARET 450878400 $1,604.77 01/01/1998 360
600103322 MENA NESTOR 450880935 $1,576.11 01/01/1998 360
600103335 KEANE HANORA 450883954 $338.07 01/01/1998 360
600103337 BAUMGARTEN DAVID 450886718 $1,569.64 3 01/01/1998 360
600103338 CELLA PAUL 450886809 $1,638.30 3 01/01/1998 360
600103344 LANDY MORACE 450887625 $1,682.84 2 01/01/1998 360
600103355 ROBINETTE MICHAEL 450892211 $1,666.02 2 01/01/1998 360
600103379 EVANS MICHAEL 450900626 $1,463.55 01/01/1998 360
600103386 ROSENTHAL LEIGH 450902358 $1,473.40 01/01/1998 360
600103405 PFLEDERER PATRICK 450908199 $909.24 2 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103269 MAYNARD JACK .00 .00 .00 .000 .250 .300 $238,361.00 N
600103276 RIVERO RUBEN .00 .00 .00 .000 .250 .300 $203,000.00 N
600103301 JOHNSON STEPHEN .00 .00 .00 .000 .250 .300 $280,330.00 N
600103313 GRAZIANI JOHN .00 .00 .00 .000 .250 .300 $177,000.00 N
600103314 PRITCHARD MARGARET .00 .00 .00 .000 .250 .300 $280,000.00 N
600103322 MENA NESTOR .00 .00 .00 .000 .250 .300 $310,000.00 N
600103335 KEANE HANORA .00 .00 .00 .000 .250 .300 $169,000.00 N
600103337 BAUMGARTEN DAVID .00 .00 .00 .000 .250 .300 $236,300.00 N
600103338 CELLA PAUL .00 .00 .00 .000 .250 .300 $251,060.00 N
600103344 LANDY MORACE .00 .00 .00 .000 .250 .300 $237,000.00 N
600103355 ROBINETTE MICHAEL .00 .00 .00 .000 .250 .300 $239,000.00 N
600103379 EVANS MICHAEL .00 .00 .00 .000 .250 .300 $264,900.00 N
600103386 ROSENTHAL LEIGH .00 .00 .00 .000 .250 .300 $251,000.00 N
600103405 PFLEDERER PATRICK .00 .00 .00 .000 .250 .300 $132,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 4
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600103869 SPEARS, RONNY 773 DAILEY AVEN SAN JOSE CA 95123 $219,532.08
600103874 BOAZ, JASON 880 DELANO STRE PISMO BEACH CA 93449 $219,454.45
600103883 ROMO, MARJORIE 340 PROSPECT ST NEWPORT BEACH CA 92663 $223,510.58
600103917 HOGAN, GROVER 816 MYRTLE STRE ATLANTA GA 30308 $216,582.07
600103939 HSIA, CARY 190 MIDWICK DRI MILPITAS CA 95035 $221,715.92
600104489 OAKLEY 4053E FARRIN AVE FRESNO CA 93726 $40,240.23
600104492 PRITCHARD 27 PASEO BREZO RANCHO SANTA MA CA 92688 $109,706.53
600104493 BAGHERPOUR 12224 LIBELLE CT SAN DIEGO CA 92131 $185,090.15
600104494 GARCIA 1622 WHITTON AVE SAN JOSE CA 95116 $81,793.84
600104501 SIMMS 1952 SAN BRUNO NEWPORT BEACH CA 92660 $149,385.94
600104502 ETESAMNIA 24502 CREEKVIEW DR LAGUNA HILLS CA 92653 $164,529.60
600104514 SOTO 2608 MARTHA AVE TORRANCE CA 90501 $173,933.35
600104515 MUNOZ 17941 GALLINETA ST ROWLAND HEIGHTS CA 91748 $135,568.67
600104516 ULLOA 250 N VIEWPOINTE LN WALNUT CA 91789 $166,773.23
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600103869 SPEARS, RONNY 8.125 .250 7.875 .0500 7.825 10/01/2027
600103874 BOAZ, JASON 8.000 .250 7.750 .0500 7.700 10/01/2027
600103883 ROMO, MARJORIE 7.625 .250 7.375 .0500 7.325 10/01/2027
600103917 HOGAN, GROVER 8.250 .250 8.000 .0500 7.950 10/01/2027
600103939 HSIA, CARY 8.250 .250 8.000 .0500 7.950 11/01/2027
600104489 OAKLEY 8.750 .250 8.500 .0500 8.450 06/01/2027
600104492 PRITCHARD 8.250 .250 8.000 .0500 7.950 09/01/2027
600104493 BAGHERPOUR 8.000 .250 7.750 .0500 7.700 11/01/2027
600104494 GARCIA 8.500 .250 8.250 .0500 8.200 07/01/2027
600104501 SIMMS 8.000 .250 7.750 .0500 7.700 07/01/2027
600104502 ETESAMNIA 7.750 .250 7.500 .0500 7.450 09/01/2027
600104514 SOTO 8.125 .250 7.875 .0500 7.825 06/01/2027
600104515 MUNOZ 7.875 .250 7.625 .0500 7.575 07/01/2027
600104516 ULLOA 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>
600103869 SPEARS, RONNY 1195999 $1,633.49 01/01/1998 360
600103874 BOAZ, JASON 1202001 $1,613.55 01/01/1998 360
600103883 ROMO, MARJORIE 1205632 $1,585.46 01/01/1998 360
600103917 HOGAN, GROVER 1244011 $1,630.25 01/01/1998 360
600103939 HSIA, CARY 1250992 $1,667.81 01/01/1998 360
600104489 OAKLEY 9159737833 $318.62 01/01/1998 360
600104492 PRITCHARD 9159791137 $826.32 01/01/1998 360
600104493 BAGHERPOUR 9159794198 $1,362.00 01/01/1998 360
600104494 GARCIA 9159816017 $634.36 01/01/1998 360
600104501 SIMMS 9199178980 $1,100.65 01/01/1998 360
600104502 ETESAMNIA 9199180093 $1,182.09 01/01/1998 360
600104514 SOTO 9199643009 $1,297.52 01/01/1998 360
600104515 MUNOZ 9199671463 $989.72 01/01/1998 360
600104516 ULLOA 9199672735 $1,198.20 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600103869 SPEARS, RONNY .00 .00 .00 .000 .250 .300 $280,000.00 N
600103874 BOAZ, JASON .00 .00 .00 .000 .250 .300 $292,000.00 N
600103883 ROMO, MARJORIE .00 .00 .00 .000 .250 .300 $280,000.00 N
600103917 HOGAN, GROVER .00 .00 .00 .000 .250 .300 $353,000.00 N
600103939 HSIA, CARY .00 .00 .00 .000 .250 .300 $278,000.00 N
600104489 OAKLEY .00 .00 .00 .000 .250 .300 $88,000.00 N
600104492 PRITCHARD .00 .00 .00 .000 .250 .300 $179,990.00 N
600104493 BAGHERPOUR .00 .00 .00 .000 .250 .300 $247,490.00 N
600104494 GARCIA .00 .00 .00 .000 .250 .300 $110,000.00 N
600104501 SIMMS .00 .00 .00 .000 .250 .300 $210,000.00 N
600104502 ETESAMNIA .00 .00 .00 .000 .250 .300 $220,000.00 N
600104514 SOTO .00 .00 .00 .000 .250 .300 $233,000.00 N
600104515 MUNOZ .00 .00 .00 .000 .250 .300 $182,000.00 N
600104516 ULLOA .00 .00 .00 .000 .250 .300 $223,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 5
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600104517 CHEN 4210 VIA ARBOLADA LOS ANGELES CA 90042 $39,604.31
600104518 V, RAUL 4167 VIA MARCINA CARPINTERIA CA 93013 $215,384.23
600104530 SCALESE 10326 GOTHIC AVE LOS ANGELES CA 91344 $37,848.29
600104531 KOVACS 35222 RED ROVER MINE RD ACTON CA 93510 $196,964.50
600104537 YEP 2019 HARVARD DR ALAMEDA CA 94501 $134,529.30
600104551 HAYES 663 CARLSTON AVE OAKLAND CA 94610 $224,342.35
600104556 LIM 1342 44TH AVE SAN FRANCISCO CA 94122 $186,741.77
600104558 ESPARZA 7236 ANNAPOLIS AVE LA MESA CA 91941 $82,757.40
600104569 SERPA 3327 LA MESA DR UNIT 7 SAN CARLOS CA 94070 $177,991.15
600105209 Miller James 124 147th Avenue S. E. Bellevue WA 98008 $224,290.93
600105211 Kasapis Nicole C 350 S Mahoney #6 Telluride CO 81435 $223,351.65
600105225 Ruffino Joseph 4105-4109 Mc Farlane, 127 Burbank CA 91505 $222,571.08
600105291 Ramos Ramon 719 Monroe Street Lyndhurst NJ 07071 $215,737.37
600105309 Staszak Joseph E 360 Lenape Drive Berwyn PA 19312 $221,401.49
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600104517 CHEN 7.625 .250 7.375 .0500 7.325 08/01/2027
600104518 V, RAUL 7.750 .250 7.500 .0500 7.450 09/01/2027
600104530 SCALESE 8.125 .250 7.875 .0500 7.825 07/01/2027
600104531 KOVACS 7.625 .250 7.375 .0500 7.325 10/01/2027
600104537 YEP 7.875 .250 7.625 .0500 7.575 08/01/2027
600104551 HAYES 7.625 .250 7.375 .0500 7.325 09/01/2027
600104556 LIM 7.875 .250 7.625 .0500 7.575 11/01/2027
600104558 ESPARZA 7.625 .250 7.375 .0500 7.325 09/01/2027
600104569 SERPA 7.750 .250 7.500 .0500 7.450 09/01/2027
600105209 Miller James 8.375 .250 8.125 .0500 8.075 08/01/2027
600105211 Kasapis Nicole C 8.500 .250 8.250 .0500 8.200 09/01/2027
600105225 Ruffino Joseph 8.375 .250 8.125 .0500 8.075 10/01/2027
600105291 Ramos Ramon 8.500 .250 8.250 .0500 8.200 11/01/2027
600105309 Staszak Joseph E 8.000 .250 7.750 .0500 7.700 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>
600104517 CHEN 9199672875 $281.35 01/01/1998 360
600104518 V, RAUL 9199692337 $1,547.46 01/01/1998 360
600104530 SCALESE 9199788713 $282.15 01/01/1998 360
600104531 KOVACS 9199792814 $1,401.44 01/01/1998 360
600104537 YEP 9199811697 $978.85 01/01/1998 360
600104551 HAYES 9199911398 $1,592.54 01/01/1998 360
600104556 LIM 9199913329 $1,355.88 01/01/1998 360
600104558 ESPARZA 9199921686 $587.47 01/01/1998 360
600104569 SERPA 9199952129 $1,278.80 01/01/1998 360
600105209 Miller James 258432 $1,710.16 01/01/1998 360
600105211 Kasapis Nicole C 259432 $1,721.60 01/01/1998 360
600105225 Ruffino Joseph 266409 $1,694.96 01/01/1998 360
600105291 Ramos Ramon 276527 $1,660.85 12 01/01/1998 360
600105309 Staszak Joseph E 278031 $1,626.76 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600104517 CHEN .00 .00 .00 .000 .250 .300 $53,000.00 N
600104518 V, RAUL .00 .00 .00 .000 .250 .300 $300,000.00 N
600104530 SCALESE .00 .00 .00 .000 .250 .300 $145,000.00 N
600104531 KOVACS .00 .00 .00 .000 .250 .300 $280,000.00 N
600104537 YEP .00 .00 .00 .000 .250 .300 $210,000.00 N
600104551 HAYES .00 .00 .00 .000 .250 .300 $385,000.00 N
600104556 LIM .00 .00 .00 .000 .250 .300 $305,000.00 N
600104558 ESPARZA .00 .00 .00 .000 .250 .300 $128,000.00 N
600104569 SERPA .00 .00 .00 .000 .250 .300 $238,000.00 N
600105209 Miller James .00 .00 .00 .000 .250 .300 $300,000.00 N
600105211 Kasapis Nicole C .00 .00 .00 .000 .250 .300 $279,900.00 N
600105225 Ruffino Joseph $300,000.00 N
600105291 Ramos Ramon .00 .00 .00 .000 .250 .300 $245,000.00 N
600105309 Staszak Joseph E .00 .00 .00 .000 .250 .300 $360,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 6
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600105350 Bowman Warren C. 758 Palms Blvd. Venice CA 90291 $219,672.44
600105421 SEBA 28916 HIDDEN TRAIL FARMINGTON HILL MI 48331 $224,712.07
600106247 MILLIGAN 2357 GREEN VALLEY ROAD DARIEN IL 60561 $224,704.64
600106251 HAWKE 4620 TENNYSON AVE TAMPA FL 33629 $220,661.16
600106252 LUCENTE 15 GILFORD ST STAMFORD CT 06907 $221,994.08
600106262 WILLIAMS 13216 LADYBANK LANE HERNDON VA 20171 $220,055.08
600107112 BOOS DANNY 209 E MT HOPE LANSING MI 48912 $42,619.80
600107113 GOONEN DENIS 1023 KENWOOD AVENUE FORT WAYNE IN 46805 $44,942.42
600107114 SHAFER THOMAS 425 HEMPHILL ROAD FLINT MI 48507 $53,033.75
600107115 BROWN SR TIMOTHY 4815 W KAMMERLING CHICAGO IL 60651 $56,632.80
600107116 SLAWSON LARRY 2129 ROLLINS GRAND BLANC MI 48439 $81,098.71
600107117 MATTHEWS ROBERT 57 ELM TERRACE BROCKTON MA 02403 $14,382.02
600107118 MATTHEWS ROBERT 57 ELM TERRACE BROCKTON MA 02401 $17,578.03
600107119 GEISBERT R. 3734 LAWSON ROAD IJAMSVILLE MD 21754 $111,464.30
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600105350 Bowman Warren C. 7.500 .250 7.250 .0500 7.200 12/01/2027
600105421 SEBA 8.250 .250 8.000 .0500 7.950 11/01/2027
600106247 MILLIGAN 8.125 .250 7.875 .0500 7.825 11/01/2027
600106251 HAWKE 8.000 .250 7.750 .0500 7.700 11/01/2027
600106252 LUCENTE 8.000 .250 7.750 .0500 7.700 11/01/2027
600106262 WILLIAMS 7.250 .250 7.000 .0500 6.950 11/01/2027
600107112 BOOS DANNY 8.375 .250 8.125 .0500 8.075 10/01/2027
600107113 GOONEN DENIS 8.250 .250 8.000 .0500 7.950 11/01/2027
600107114 SHAFER THOMAS 8.375 .250 8.125 .0500 8.075 11/01/2027
600107115 BROWN SR TIMOTHY 8.625 .250 8.375 .0500 8.325 11/01/2027
600107116 SLAWSON LARRY 8.375 .250 8.125 .0500 8.075 11/01/2027
600107117 MATTHEWS ROBERT 8.375 .250 8.125 .0500 8.075 11/01/2027
600107118 MATTHEWS ROBERT 8.375 .250 8.125 .0500 8.075 11/01/2027
600107119 GEISBERT R. 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>
600105350 Bowman Warren C. 282322 $1,538.27 01/01/1998 360
600105421 SEBA 0950315 $1,690.35 01/01/1998 360
600106247 MILLIGAN 948856 $1,670.62 12 01/01/1998 360
600106251 HAWKE 949836 $1,621.62 18 01/01/1998 360
600106252 LUCENTE 950117 $1,631.16 2 01/01/1998 360
600106262 WILLIAMS 954202 $1,503.52 7 01/01/1998 360
600107112 BOOS DANNY 450853361 $324.56 01/01/1998 360
600107113 GOONEN DENIS 450876453 $338.07 3 01/01/1998 360
600107114 SHAFER THOMAS 450878749 $403.60 3 01/01/1998 360
600107115 BROWN SR TIMOTHY 450882212 $441.01 2 01/01/1998 360
600107116 SLAWSON LARRY 450883186 $617.18 01/01/1998 360
600107117 MATTHEWS ROBERT 450884721 $109.46 01/01/1998 360
600107118 MATTHEWS ROBERT 450884747 $133.78 01/01/1998 360
600107119 GEISBERT R. 450885470 $858.11 2 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600105350 Bowman Warren C. .00 .00 .00 .000 .250 .300 $275,000.00 N
600105421 SEBA .00 .00 .00 .000 .250 .300 $292,000.00 N
600106247 MILLIGAN .00 .00 .00 .000 .250 .300 $255,000.00 N
600106251 HAWKE .00 .00 .00 .000 .250 .300 $255,000.00 N
600106252 LUCENTE .00 .00 .00 .000 .250 .300 $235,000.00 N
600106262 WILLIAMS .00 .00 .00 .000 .250 .300 $232,000.00 N
600107112 BOOS DANNY .00 .00 .00 .000 .250 .300 $61,000.00 N
600107113 GOONEN DENIS .00 .00 .00 .000 .250 .300 $50,000.00 N
600107114 SHAFER THOMAS .00 .00 .00 .000 .250 .300 $59,000.00 N
600107115 BROWN SR TIMOTHY .00 .00 .00 .000 .250 .300 $63,000.00 N
600107116 SLAWSON LARRY .00 .00 .00 .000 .250 .300 $116,000.00 N
600107117 MATTHEWS ROBERT .00 .00 .00 .000 .250 .300 $18,000.00 N
600107118 MATTHEWS ROBERT .00 .00 .00 .000 .250 .300 $22,000.00 N
600107119 GEISBERT R. .00 .00 .00 .000 .250 .300 $124,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 7
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107120 DELLA POLLA SR JOHN 5 VILLAGE CAPE ISLAND CRK WEST CAPE M NJ 08204 $111,560.64
600107121 SNYDER MARK 1420 SILVER SW ALBUQUERQUE NM 87102 $121,224.40
600107122 NECA DAVID 1504 WESTRIDGE PLACE MODESTO CA 94538 $110,112.46
600107123 MOORE LOIS 8620 ROBILINA ROAD PORT RICHEY FL 34668 $41,448.24
600107125 JOHNSON CYRUS 1885 CHILHOWEE DRIVE JOHNS ISLAN SC 29455 $49,968.11
600107127 PETERS KENNETH 6480 MCGUIRE ROAD FENTON MI 48430 $54,931.39
600107128 COOK THOMAS 301 N FRENCH STREET BRECKENRIDG CO 80424 $68,509.42
600107129 SOLARANA ANA 5009 SW 139TH COURT MIAMI FL 33175 $73,710.26
600107130 ROSENBERG NEIL 15 STARBROOK DRIVE BARRINGTON RI 02806 $149,812.88
600107131 VLAD URSULA 1301 SW 74TH TERRACE PLANTATION FL 33317 $128,993.93
600107132 WILEY GARY 234 16TH AVE. GREELEY CO 80631 $52,434.51
600107133 HANSON KIRK 3421&3423 GOOD STREET BOISE ID 83702 $63,670.47
600107134 HANSON KIRK 2118-2120,2122-2124 N 35T BOISE ID 83702 $112,359.65
600107135 HANSON KIRK 2126-2128 N 35TH STREET BOISE ID 83702 $63,670.47
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107120 DELLA POLLA SR JOHN 8.375 .250 8.125 .0500 8.075 11/01/2027
600107121 SNYDER MARK 7.875 .250 7.625 .0500 7.575 11/01/2027
600107122 NECA DAVID 8.375 .250 8.125 .0500 8.075 11/01/2027
600107123 MOORE LOIS 8.375 .250 8.125 .0500 8.075 11/01/2027
600107125 JOHNSON CYRUS 8.250 .250 8.000 .0500 7.950 12/01/2027
600107127 PETERS KENNETH 8.375 .250 8.125 .0500 8.075 11/01/2027
600107128 COOK THOMAS 8.375 .250 8.125 .0500 8.075 11/01/2027
600107129 SOLARANA ANA 8.500 .250 8.250 .0500 8.200 11/01/2027
600107130 ROSENBERG NEIL 8.375 .250 8.125 .0500 8.075 11/01/2027
600107131 VLAD URSULA 7.875 .250 7.625 .0500 7.575 11/01/2027
600107132 WILEY GARY 8.375 .250 8.125 .0500 8.075 11/01/2027
600107133 HANSON KIRK 8.375 .250 8.125 .0500 8.075 11/01/2027
600107134 HANSON KIRK 8.375 .250 8.125 .0500 8.075 11/01/2027
600107135 HANSON KIRK 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>
600107120 DELLA POLLA SR JOHN 450890868 $849.01 01/01/1998 360
600107121 SNYDER MARK 450894720 $887.49 01/01/1998 360
600107122 NECA DAVID 450896089 $837.98 01/01/1998 360
600107123 MOORE LOIS 450912845 $315.43 01/01/1998 360
600107125 JOHNSON CYRUS 450913801 $375.64 01/01/1998 360
600107127 PETERS KENNETH 450915103 $418.04 01/01/1998 360
600107128 COOK THOMAS 450915863 $521.38 2 01/01/1998 360
600107129 SOLARANA ANA 450915905 $567.46 2 01/01/1998 360
600107130 ROSENBERG NEIL 450916010 $1,140.11 01/01/1998 360
600107131 VLAD URSULA 450916101 $936.79 01/01/1998 360
600107132 WILEY GARY 450916689 $399.04 01/01/1998 360
600107133 HANSON KIRK 450917349 $484.55 01/01/1998 360
600107134 HANSON KIRK 450917356 $855.09 3 01/01/1998 360
600107135 HANSON KIRK 450917406 $484.55 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107120 DELLA POLLA SR JOHN .00 .00 .00 .000 .250 .300 $159,600.00 N
600107121 SNYDER MARK .00 .00 .00 .000 .250 .300 $153,000.00 N
600107122 NECA DAVID .00 .00 .00 .000 .250 .300 $147,000.00 N
600107123 MOORE LOIS .00 .00 .00 .000 .250 .300 $61,500.00 N
600107125 JOHNSON CYRUS .00 .00 .00 .000 .250 .300 $75,000.00 N
600107127 PETERS KENNETH .00 .00 .00 .000 .250 .300 $135,000.00 N
600107128 COOK THOMAS .00 .00 .00 .000 .250 .300 $80,700.00 N
600107129 SOLARANA ANA .00 .00 .00 .000 .250 .300 $82,000.00 N
600107130 ROSENBERG NEIL .00 .00 .00 .000 .250 .300 $187,500.00 N
600107131 VLAD URSULA .00 .00 .00 .000 .250 .300 $161,500.00 N
600107132 WILEY GARY .00 .00 .00 .000 .250 .300 $75,000.00 N
600107133 HANSON KIRK .00 .00 .00 .000 .250 .300 $85,000.00 N
600107134 HANSON KIRK .00 .00 .00 .000 .250 .300 $125,000.00 N
600107135 HANSON KIRK .00 .00 .00 .000 .250 .300 $85,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 8
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107136 PRIEST PETER 791 BOLSTER MILL ROAD OTISFIELD ME 04270 $103,863.48
600107137 GIROUX SHIRLEY 22 STAPLES STREET TAUNTON MA 02780 $34,278.12
600107138 BRAUN ROBERT 10 HAZELWOOD AVENUE DRACUT MA 01826 $15,990.05
600107139 HOLDEN ROBERT 8501 E FOND DU LAC DRIVE TUCSON AZ 85710 $54,965.81
600107140 HOLDEN ROBERT 8002 E 18TH PL. TUCSON AZ 85710 $57,164.44
600107141 LOCKLEAR GERALD 634 N LOUISIANA ROAD ASHEVILLE NC 28806 $70,155.24
600107143 HUBERT PAUL 122 BACK RIVER ROAD MERRIMACK NH 03054 $115,927.89
600107144 CURREA-COHEN MARIA 598 HORSE HILL RD WESTBROOK CT 06498 $122,317.87
600107145 BUCKLEY JANET 3325 BAYSHORE BLVD. TAMPA FL 33629 $63,959.18
600107146 CODDING LAURENCE 936 COLUMBIA AVENUE FORT WAYNE IN 46805 $59,963.65
600107148 EVANS DEBRA 10835 GABLE DRIVE DALLAS TX 75229 $65,660.20
600107149 HOLMES DAVID 7 VILLAGE WAY NATICK MA 01760 $37,176.88
600107150 HOLMES DAVID 29 VILLAGE ROCK LANE NATICK MA 01760 $37,176.88
600107151 HOLMES DAVID 4 VILLAGE HILL LANE NATICK MA 01760 $36,377.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107136 PRIEST PETER 8.125 .250 7.875 .0500 7.825 11/01/2027
600107137 GIROUX SHIRLEY 8.250 .250 8.000 .0500 7.950 12/01/2027
600107138 BRAUN ROBERT 8.375 .250 8.125 .0500 8.075 12/01/2027
600107139 HOLDEN ROBERT 8.375 .250 8.125 .0500 8.075 12/01/2027
600107140 HOLDEN ROBERT 8.375 .250 8.125 .0500 8.075 12/01/2027
600107141 LOCKLEAR GERALD 8.250 .250 8.000 .0500 7.950 12/01/2027
600107143 HUBERT PAUL 8.375 .250 8.125 .0500 8.075 12/01/2027
600107144 CURREA-COHEN MARIA 8.000 .250 7.750 .0500 7.700 12/01/2027
600107145 BUCKLEY JANET 8.250 .250 8.000 .0500 7.950 12/01/2027
600107146 CODDING LAURENCE 8.500 .250 8.250 .0500 8.200 12/01/2027
600107148 EVANS DEBRA 8.500 .250 8.250 .0500 8.200 12/01/2027
600107149 HOLMES DAVID 8.375 .250 8.125 .0500 8.075 12/01/2027
600107150 HOLMES DAVID 8.375 .250 8.125 .0500 8.075 12/01/2027
600107151 HOLMES DAVID 8.500 .250 8.250 .0500 8.200 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>
600107136 PRIEST PETER 450919527 $772.20 01/01/1998 360
600107137 GIROUX SHIRLEY 450919576 $257.69 01/01/1998 360
600107138 BRAUN ROBERT 450919964 $121.62 01/01/1998 360
600107139 HOLDEN ROBERT 450920012 $418.04 01/01/1998 360
600107140 HOLDEN ROBERT 450920020 $434.77 01/01/1998 360
600107141 LOCKLEAR GERALD 450921333 $527.39 01/01/1998 360
600107143 HUBERT PAUL 450921663 $881.69 2 01/01/1998 360
600107144 CURREA-COHEN MARIA 450922208 $898.13 01/01/1998 360
600107145 BUCKLEY JANET 450922943 $480.82 01/01/1998 360
600107146 CODDING LAURENCE 450923735 $461.35 01/01/1998 360
600107148 EVANS DEBRA 450925128 $505.18 2 01/01/1998 360
600107149 HOLMES DAVID 450926456 $282.75 01/01/1998 360
600107150 HOLMES DAVID 450926464 $282.75 01/01/1998 360
600107151 HOLMES DAVID 450926472 $279.89 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107136 PRIEST PETER .00 .00 .00 .000 .250 .300 $130,000.00 N
600107137 GIROUX SHIRLEY .00 .00 .00 .000 .250 .300 $49,000.00 N
600107138 BRAUN ROBERT .00 .00 .00 .000 .250 .300 $20,000.00 N
600107139 HOLDEN ROBERT .00 .00 .00 .000 .250 .300 $83,000.00 N
600107140 HOLDEN ROBERT .00 .00 .00 .000 .250 .300 $88,000.00 N
600107141 LOCKLEAR GERALD .00 .00 .00 .000 .250 .300 $90,000.00 N
600107143 HUBERT PAUL .00 .00 .00 .000 .250 .300 $130,000.00 N
600107144 CURREA-COHEN MARIA .00 .00 .00 .000 .250 .300 $153,000.00 N
600107145 BUCKLEY JANET .00 .00 .00 .000 .250 .300 $80,000.00 N
600107146 CODDING LAURENCE .00 .00 .00 .000 .250 .300 $80,000.00 N
600107148 EVANS DEBRA .00 .00 .00 .000 .250 .300 $73,000.00 N
600107149 HOLMES DAVID .00 .00 .00 .000 .250 .300 $57,250.00 N
600107150 HOLMES DAVID .00 .00 .00 .000 .250 .300 $57,250.00 N
600107151 HOLMES DAVID .00 .00 .00 .000 .250 .300 $56,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 9
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107152 CARTER JERRY 3527 E EVERETT AVENUE SPOKANE WA 99207 $39,574.74
600107153 KNUTSON ALBERT 477 2ND STREET IDAHO FALLS ID 83401 $39,548.02
600107154 WALDROP BILLY 4598 E HIGHWAY 195 JASPER AL 35501 $49,969.71
600107155 TAVARES JOHN 2 ORCHARD STREET FALL RIVER MA 02723 $91,744.38
600107156 SAMSON JOSEPH 649 ROUTE 126 BARRINGTON NH 03825 $106,240.40
600107157 LEE CHRISTOPHE 1203 PEBBLE LANE FLETCHER NC 28732 $107,527.79
600107158 SCANLIN THOMAS 485 PANORAMA ROAD EARLYSVILLE VA 22936 $181,889.74
600107159 KELLY BARBARA 420 LOWELL LANE PENSACOLA FL 32514 $77,551.76
600107160 KWOK STEPHEN 335-337 MERIDIAN STREET EAST BOSTON MA 02128 $91,992.78
600107161 RUDNITSKY EDWARD 90 FISHER AVENUE ROXBURY MA 02120 $97,439.39
600107162 NGUYEN CHI 42 KAZAN STREET IRVINE CA 92064 $115,128.39
600107163 FITZPATRICK OBADIAH 11303 ENGLESIDE DETROIT MI 48205 $23,384.69
600107164 KONDO MASARU 17 BRADDOCK PARK BOSTON MA 02116 $179,216.83
600107166 BALDEZ LETITIA 4311 FLEMING STREET PHILADELPHI PA 19128 $37,776.50
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107152 CARTER JERRY 8.250 .250 8.000 .0500 7.950 12/01/2027
600107153 KNUTSON ALBERT 8.125 .250 7.875 .0500 7.825 11/01/2027
600107154 WALDROP BILLY 8.500 .250 8.250 .0500 8.200 12/01/2027
600107155 TAVARES JOHN 8.500 .250 8.250 .0500 8.200 12/01/2027
600107156 SAMSON JOSEPH 8.875 .250 8.625 .0500 8.575 12/01/2027
600107157 LEE CHRISTOPHE 8.000 .250 7.750 .0500 7.700 12/01/2027
600107158 SCANLIN THOMAS 8.500 .250 8.250 .0500 8.200 12/01/2027
600107159 KELLY BARBARA 8.375 .250 8.125 .0500 8.075 12/01/2027
600107160 KWOK STEPHEN 8.375 .250 8.125 .0500 8.075 12/01/2027
600107161 RUDNITSKY EDWARD 8.375 .250 8.125 .0500 8.075 12/01/2027
600107162 NGUYEN CHI 8.375 .250 8.125 .0500 8.075 12/01/2027
600107163 FITZPATRICK OBADIAH 8.125 .250 7.875 .0500 7.825 12/01/2027
600107164 KONDO MASARU 8.375 .250 8.125 .0500 8.075 12/01/2027
600107166 BALDEZ LETITIA 8.375 .250 8.125 .0500 8.075 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>
600107152 CARTER JERRY 450926704 $297.51 3 01/01/1998 360
600107153 KNUTSON ALBERT 450926720 $294.03 01/01/1998 360
600107154 WALDROP BILLY 450927157 $384.46 01/01/1998 360
600107155 TAVARES JOHN 450927389 $705.87 01/01/1998 360
600107156 SAMSON JOSEPH 450928619 $845.78 01/01/1998 360
600107157 LEE CHRISTOPHE 450929112 $789.54 01/01/1998 360
600107158 SCANLIN THOMAS 450929278 $1,399.43 01/01/1998 360
600107159 KELLY BARBARA 450933338 $589.82 01/01/1998 360
600107160 KWOK STEPHEN 450933908 $699.65 01/01/1998 360
600107161 RUDNITSKY EDWARD 450934518 $741.08 01/01/1998 360
600107162 NGUYEN CHI 450936323 $875.61 2 01/01/1998 360
600107163 FITZPATRICK OBADIAH 450937123 $173.75 2 01/01/1998 360
600107164 KONDO MASARU 450937198 $1,410.70 01/01/1998 360
600107166 BALDEZ LETITIA 450937859 $287.31 2 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107152 CARTER JERRY .00 .00 .00 .000 .250 .300 $44,000.00 N
600107153 KNUTSON ALBERT .00 .00 .00 .000 .250 .300 $50,000.00 N
600107154 WALDROP BILLY .00 .00 .00 .000 .250 .300 $82,000.00 N
600107155 TAVARES JOHN .00 .00 .00 .000 .250 .300 $119,000.00 N
600107156 SAMSON JOSEPH .00 .00 .00 .000 .250 .300 $147,000.00 N
600107157 LEE CHRISTOPHE .00 .00 .00 .000 .250 .300 $134,500.00 N
600107158 SCANLIN THOMAS .00 .00 .00 .000 .250 .300 $260,000.00 N
600107159 KELLY BARBARA .00 .00 .00 .000 .250 .300 $97,000.00 N
600107160 KWOK STEPHEN .00 .00 .00 .000 .250 .300 $131,500.00 N
600107161 RUDNITSKY EDWARD .00 .00 .00 .000 .250 .300 $150,000.00 N
600107162 NGUYEN CHI .00 .00 .00 .000 .250 .300 $128,000.00 N
600107163 FITZPATRICK OBADIAH .00 .00 .00 .000 .250 .300 $26,000.00 N
600107164 KONDO MASARU .00 .00 .00 .000 .250 .300 $232,000.00 N
600107166 BALDEZ LETITIA .00 .00 .00 .000 .250 .300 $42,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 10
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107167 LAMBDEN BRIAN 257 WINTER PARK DR 2113 WINTER PARK CO 80482 $120,978.76
600107168 LEVEILLE KEITH 9 PLEASANT PARK AVENUE HYANNIS MA 02601 $44,876.21
600107169 CLAPSADDLE WILLIAM 35 CEDAR POINT ROAD SANDUSKY OH 44870 $134,916.09
600107170 BRENDLINE CHARLES 63 SOUTH STREET WEST HAVEN CT 06516 $76,447.35
600107171 KULIKOWSKI SHAWN 187 MEADOW ROAD PORTSMOUTH NH 03801 $123,922.93
600107172 UNNITHAN PRABHA 1705 HEATHERIDGE ROAD FT. COLLINS CO 80526 $36,351.80
600107173 HAZEL SCOTT 4 ERICK ROAD MANSFIELD MA 02048 $57,113.56
600107174 KAISER PETER 612 WEYMOUTH ROAD BROWNSMILLS NJ 08036 $49,968.92
600107175 LEWIS KEVIN 45 S MAIN STREET CHURCHVILLE NY 14428 $69,656.67
600107176 WILSON CARLTON 3426-3428 DUNGREEN ST MEMPHIS TN 38118 $47,171.40
600107178 ZIAII MARYAM 200 COVE WAY QUINCY MA 02169 $50,968.30
600107179 TATON KEITH 919/921 W 19TH AVENUE ANCHORAGE AK 99503 $131,320.39
600107360 BENJAMIN COLEMAN ERIC 105 BENNETTS CREEK L SUFFOLK VA 23435 $224,665.00
600107366 SIGALOS MICHAEL 20 WHYTE DR VOORHEES NJ 08043 $161,979.75
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107167 LAMBDEN BRIAN 8.375 .250 8.125 .0500 8.075 12/01/2027
600107168 LEVEILLE KEITH 8.500 .250 8.250 .0500 8.200 12/01/2027
600107169 CLAPSADDLE WILLIAM 8.375 .250 8.125 .0500 8.075 12/01/2027
600107170 BRENDLINE CHARLES 7.875 .250 7.625 .0500 7.575 12/01/2027
600107171 KULIKOWSKI SHAWN 8.375 .250 8.125 .0500 8.075 12/01/2027
600107172 UNNITHAN PRABHA 8.250 .250 8.000 .0500 7.950 12/01/2027
600107173 HAZEL SCOTT 8.250 .250 8.000 .0500 7.950 12/01/2027
600107174 KAISER PETER 8.375 .250 8.125 .0500 8.075 12/01/2027
600107175 LEWIS KEVIN 8.375 .250 8.125 .0500 8.075 12/01/2027
600107176 WILSON CARLTON 8.500 .250 8.250 .0500 8.200 12/01/2027
600107178 ZIAII MARYAM 8.375 .250 8.125 .0500 8.075 12/01/2027
600107179 TATON KEITH 8.500 .250 8.250 .0500 8.200 12/01/2027
600107360 BENJAMIN COLEMAN ERIC 7.500 .250 7.250 .0400 7.210 11/01/2027
600107366 SIGALOS MICHAEL 7.125 .250 6.875 .0400 6.835 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>
600107167 LAMBDEN BRIAN 450937909 $920.10 01/01/1998 360
600107168 LEVEILLE KEITH 450939145 $346.02 01/01/1998 360
600107169 CLAPSADDLE WILLIAM 450939426 $1,026.10 01/01/1998 360
600107170 BRENDLINE CHARLES 450939954 $554.68 2 01/01/1998 360
600107171 KULIKOWSKI SHAWN 450943592 $942.49 01/01/1998 360
600107172 UNNITHAN PRABHA 450944129 $273.28 01/01/1998 360
600107173 HAZEL SCOTT 450944277 $429.35 3 01/01/1998 360
600107174 KAISER PETER 450944285 $380.04 01/01/1998 360
600107175 LEWIS KEVIN 450945084 $529.78 3 01/01/1998 360
600107176 WILSON CARLTON 450945134 $362.93 01/01/1998 360
600107178 ZIAII MARYAM 450947924 $387.64 01/01/1998 360
600107179 TATON KEITH 450947940 $1,010.36 3 01/01/1998 360
600107360 BENJAMIN COLEMAN ERIC 1781066612 $1,573.23 3 01/01/1998 360
600107366 SIGALOS MICHAEL 1161229429 $1,093.04 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107167 LAMBDEN BRIAN .00 .00 .00 .000 .250 .300 $161,405.00 N
600107168 LEVEILLE KEITH .00 .00 .00 .000 .250 .300 $65,000.00 N
600107169 CLAPSADDLE WILLIAM .00 .00 .00 .000 .250 .300 $237,000.00 N
600107170 BRENDLINE CHARLES .00 .00 .00 .000 .250 .300 $87,000.00 N
600107171 KULIKOWSKI SHAWN .00 .00 .00 .000 .250 .300 $155,000.00 N
600107172 UNNITHAN PRABHA .00 .00 .00 .000 .250 .300 $48,500.00 N
600107173 HAZEL SCOTT .00 .00 .00 .000 .250 .300 $63,500.00 N
600107174 KAISER PETER .00 .00 .00 .000 .250 .300 $72,000.00 N
600107175 LEWIS KEVIN .00 .00 .00 .000 .250 .300 $82,000.00 N
600107176 WILSON CARLTON .00 .00 .00 .000 .250 .300 $59,000.00 N
600107178 ZIAII MARYAM .00 .00 .00 .000 .250 .300 $68,000.00 N
600107179 TATON KEITH .00 .00 .00 .000 .250 .300 $146,000.00 N
600107360 BENJAMIN COLEMAN ERIC .00 .00 .00 .000 .250 .290 $250,000.00 N
600107366 SIGALOS MICHAEL .00 .00 .00 .000 .250 .290 $202,800.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 11
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107367 SPENCER NICKI L 99 HEATHER GLEN LAN GROTON CT 06355 $108,649.75
600107387 PUNIN NIKOLAI 311 GREENWICH ST UNI NEW YORK NY 10007 $144,713.49
600107393 SABODISH PATRICIA 898 ROUTE 34 MATAWAN NJ 07747 $79,833.73
600107394 PROPHETE DANIELLE 490 2ND ST BROOKLYN NY 11215 $106,588.98
600107398 ARLIN MURIEL 10235 EAST SHEARWATER JERSEY CITY NJ 07305 $162,937.92
600107399 PANETTA JAMES 44 SOUTH CORONA AVE VALLEY STREAM NY 11580 $167,229.65
600107402 PINCKNEY JR 4943 DUNNWOODY PLACE OLDSMAR FL 34677 $217,180.63
600107403 NELSON DEWEY 102 SKYLINE DRIVE CASSVILLE MO 65625 $99,122.20
600107406 DADDARIO THOMAS A 1070 FAIRFAX LN WESTON FL 33326 $181,340.59
600107407 DEREMIAH ARTHUR B 179 NOTTINGHAM DRIVE ELYRIA OH 44035 $127,606.64
600107410 BERGH CLAUDIA 115 VALVERDANT CIR STEAMBOAT SPRIN CO 80477 $187,241.07
600107412 MOSLEY CAROL W 7130 MARIPOSA AVENUE CITRUS HEIGHTS CA 95610 $123,815.36
600107415 MOURGOS ELIZA 147 WARWICK STREET REDWOOD CITY CA 94062 $223,666.48
600107432 GOWEN KENNETH R 12584 PACATO CIRCLE SO SAN DIEGO CA 92128 $224,814.75
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107367 SPENCER NICKI L 7.875 .250 7.625 .0400 7.585 11/01/2027
600107387 PUNIN NIKOLAI 8.125 .250 7.875 .0400 7.835 10/01/2027
600107393 SABODISH PATRICIA 7.875 .250 7.625 .0400 7.585 10/01/2027
600107394 PROPHETE DANIELLE 8.125 .250 7.875 .0400 7.835 10/01/2027
600107398 ARLIN MURIEL 7.875 .250 7.625 .0400 7.585 09/01/2027
600107399 PANETTA JAMES 9.000 .250 8.750 .0400 8.710 09/01/2027
600107402 PINCKNEY JR 7.500 .250 7.250 .0400 7.210 08/01/2027
600107403 NELSON DEWEY 7.750 .250 7.500 .0400 7.460 01/01/2027
600107406 DADDARIO THOMAS A 7.500 .250 7.250 .0400 7.210 11/01/2017
600107407 DEREMIAH ARTHUR B 7.500 .250 7.250 .0400 7.210 11/01/2022
600107410 BERGH CLAUDIA 7.875 .250 7.625 .0400 7.585 11/01/2027
600107412 MOSLEY CAROL W 7.500 .250 7.250 .0400 7.210 11/01/2027
600107415 MOURGOS ELIZA 7.500 .250 7.250 .0400 7.210 11/01/2027
600107432 GOWEN KENNETH R 7.500 .250 7.250 .0400 7.210 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>
600107367 SPENCER NICKI L 1580061631 $788.88 01/01/1998 360
600107387 PUNIN NIKOLAI 1111129251 $1,076.63 01/01/1998 360
600107393 SABODISH PATRICIA 1101204827 $580.06 3 01/01/1998 360
600107394 PROPHETE DANIELLE 1111131865 $792.99 01/01/1998 360
600107398 ARLIN MURIEL 1587075339 $1,185.49 01/01/1998 360
600107399 PANETTA JAMES 1500353137 $1,348.55 01/01/1998 360
600107402 PINCKNEY JR 1590047976 $1,524.29 19 01/01/1998 360
600107403 NELSON DEWEY 1512186076 $716.42 01/01/1998 360
600107406 DADDARIO THOMAS A 1311299324 $1,466.18 01/01/1998 240
600107407 DEREMIAH ARTHUR B 1581136612 $945.91 01/01/1998 300
600107410 BERGH CLAUDIA 1463010280 $1,359.51 01/01/1998 360
600107412 MOSLEY CAROL W 1550013130 $867.03 01/01/1998 360
600107415 MOURGOS ELIZA 1113060881 $1,566.24 01/01/1998 360
600107432 GOWEN KENNETH R 1567209567 $1,574.29 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107367 SPENCER NICKI L .00 .00 .00 .000 .250 .290 $136,000.00 N
600107387 PUNIN NIKOLAI .00 .00 .00 .000 .250 .290 $210,000.00 N
600107393 SABODISH PATRICIA .00 .00 .00 .000 .250 .290 $90,000.00 N
600107394 PROPHETE DANIELLE .00 .00 .00 .000 .250 .290 $133,500.00 N
600107398 ARLIN MURIEL .00 .00 .00 .000 .250 .290 $218,000.00 N
600107399 PANETTA JAMES .00 .00 .00 .000 .250 .290 $209,500.00 N
600107402 PINCKNEY JR .00 .00 .00 .000 .250 .290 $232,120.00 N
600107403 NELSON DEWEY .00 .00 .00 .000 .250 .290 $129,000.00 N
600107406 DADDARIO THOMAS A .00 .00 .00 .000 .250 .290 $227,500.00 N
600107407 DEREMIAH ARTHUR B .00 .00 .00 .000 .250 .290 $160,000.00 N
600107410 BERGH CLAUDIA .00 .00 .00 .000 .250 .290 $250,000.00 N
600107412 MOSLEY CAROL W .00 .00 .00 .000 .250 .290 $155,000.00 N
600107415 MOURGOS ELIZA .00 .00 .00 .000 .250 .290 $408,000.00 N
600107432 GOWEN KENNETH R .00 .00 .00 .000 .250 .290 $237,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 12
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107451 ROTMISTROVSKY RICHARD 24972 PINE FLAT CIR LAKE FOREST CA 92630 $223,649.47
600107464 OFARRELL DIANNA 1070 NETARTS HWY TILLAMOOK OR 97141 $86,277.65
600107467 DURHAM HOWARD J 11406 OAKHURST ROAD LOUISVILLE KY 40245 $213,681.37
600107495 MEEHAN MICHAEL 4010 PEACHTREE CORNER NORCROSS GA 30092 $163,268.45
600107497 REZNICEK RANDY 1079 LAU HALA CANYON VISTA CA 92083 $212,766.51
600107503 WOLFE BILL 821 SUZANNE LANE SE ALBUQUERQUE NM 87123 $163,568.02
600107549 POST JOSEPH A 886 WINDRIDGE CIR SAN MARCOS CA 92069 $219,672.44
600107556 SCHLOSSER BRADLEY F 3200 CHERRY LANE AUSTIN TX 78703 $220,662.65
600107558 DUNCAN JAKE W 104 PINE STREET LAKE JACKSON TX 77566 $59,910.66
600107561 ZEFF KENNETH M 5421 SAINT ANTON COUR CARMICHAEL CA 95608 $124,614.18
600107567 LEWIS DARRELL E 6030 SE 49TH AVE PORTLAND OR 97206 $144,578.96
600107572 AHERN JOHN 114 PRINCE ROGERS WA MARSHFIELD MA 02050 $219,655.72
600107602 ANGOVE CONSTANCE 42665 JASON STERLING HEIGHT MI 48313 $144,235.52
600107614 BROWN SR 45 HOOT OWL TRAIL CLARK WY 82435 $79,849.78
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107451 ROTMISTROVSKY RICHARD 7.250 .250 7.000 .0400 6.960 11/01/2027
600107464 OFARRELL DIANNA 7.750 .250 7.500 .0400 7.460 11/01/2027
600107467 DURHAM HOWARD J 7.500 .250 7.250 .0400 7.210 11/01/2027
600107495 MEEHAN MICHAEL 7.750 .250 7.500 .0400 7.460 11/01/2027
600107497 REZNICEK RANDY 7.250 .250 7.000 .0400 6.960 11/01/2027
600107503 WOLFE BILL 7.750 .250 7.500 .0400 7.460 11/01/2027
600107549 POST JOSEPH A 7.500 .250 7.250 .0400 7.210 11/01/2027
600107556 SCHLOSSER BRADLEY F 7.375 .250 7.125 .0400 7.085 11/01/2027
600107558 DUNCAN JAKE W 7.500 .250 7.250 .0400 7.210 11/01/2027
600107561 ZEFF KENNETH M 7.500 .250 7.250 .0400 7.210 11/01/2027
600107567 LEWIS DARRELL E 7.375 .250 7.125 .0400 7.085 11/01/2027
600107572 AHERN JOHN 7.250 .250 7.000 .0400 6.960 11/01/2027
600107602 ANGOVE CONSTANCE 8.500 .250 8.250 .0400 8.210 10/01/2027
600107614 BROWN SR 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>
600107451 ROTMISTROVSKY RICHARD 1236006424 $1,528.07 01/01/1998 360
600107464 OFARRELL DIANNA 1506359840 $618.98 01/01/1998 360
600107467 DURHAM HOWARD J 1511199549 $1,496.32 01/01/1998 360
600107495 MEEHAN MICHAEL 1566114830 $1,171.34 01/01/1998 360
600107497 REZNICEK RANDY 1567207812 $1,453.72 01/01/1998 360
600107503 WOLFE BILL 1569185404 $1,173.49 01/01/1998 360
600107549 POST JOSEPH A 1506358348 $1,538.27 01/01/1998 360
600107556 SCHLOSSER BRADLEY F 1520014644 $1,526.39 01/01/1998 360
600107558 DUNCAN JAKE W 1522026054 $419.53 01/01/1998 360
600107561 ZEFF KENNETH M 1550007900 $872.62 01/01/1998 360
600107567 LEWIS DARRELL E 1565175544 $1,000.10 01/01/1998 360
600107572 AHERN JOHN 1580064935 $1,500.79 01/01/1998 360
600107602 ANGOVE CONSTANCE 1581125886 $1,111.08 12 01/01/1998 360
600107614 BROWN SR 1513191275 $608.06 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107451 ROTMISTROVSKY RICHARD .00 .00 .00 .000 .250 .290 $280,000.00 N
600107464 OFARRELL DIANNA .00 .00 .00 .000 .250 .290 $108,000.00 N
600107467 DURHAM HOWARD J .00 .00 .00 .000 .250 .290 $330,000.00 N
600107495 MEEHAN MICHAEL .00 .00 .00 .000 .250 .290 $218,000.00 N
600107497 REZNICEK RANDY .00 .00 .00 .000 .250 .290 $266,400.00 N
600107503 WOLFE BILL .00 .00 .00 .000 .250 .290 $204,800.00 N
600107549 POST JOSEPH A .00 .00 .00 .000 .250 .290 $276,000.00 N
600107556 SCHLOSSER BRADLEY F .00 .00 .00 .000 .250 .290 $276,250.00 N
600107558 DUNCAN JAKE W .00 .00 .00 .000 .250 .290 $75,000.00 N
600107561 ZEFF KENNETH M .00 .00 .00 .000 .250 .290 $156,000.00 N
600107567 LEWIS DARRELL E .00 .00 .00 .000 .250 .290 $181,000.00 N
600107572 AHERN JOHN .00 .00 .00 .000 .250 .290 $342,500.00 N
600107602 ANGOVE CONSTANCE .00 .00 .00 .000 .250 .290 $170,000.00 N
600107614 BROWN SR .00 .00 .00 .000 .250 .290 $100,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 13
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107619 KAMINSKI MYRNA 3013 CLARK RD SARASOTA FL 34231 $64,874.78
600107631 BERRY GEORGE 14435 LOST LAKE RD CLERMONT FL 34711 $71,729.15
600107632 ALVES FRANCISCO 1910 SWEET BAY WAY HOLLYWOOD FL 33019 $178,849.48
600107633 VALENTIN ANGEL 3725 S OCEAN DR UNIT HOLLYWOOD FL 33019 $146,340.70
600107636 WALZ JULIE A 4584 LAKE VILLAGE DR DUNWOODY GA 30338 $223,281.65
600107637 FRENCH JAMES 5988 E JAMISON LN ENGLEWOOD CO 80112 $181,506.62
600107638 DUNN LAWRENCE 13370 NORTH 72ND LANE PEORIA AZ 85281 $222,663.45
600107640 LEWIS PAMELA 1001 SW COLEMAN AVENU PORT ST LUCIE FL 34953 $61,388.02
600107643 ORENSTEIN GLEN B 2959 JUDITH DRIVE MERRICK NY 11566 $189,286.08
600107655 SAVITSKY ROMAN 41 STIRLING ST STIRLING NJ 07980 $208,600.12
600107661 MARINO THERESA L 6 IROQUOIS DRIVE MIDDLETOWN NJ 07748 $223,485.50
600107680 KYRIAZIS ANTONIO 168 01 12TH AVENUE 8A WHITESTONE NY 11357 $42,925.24
600107692 FLAHERTY CAROLYN A 2035 SW MONTMORE WAY TROUTDALE OR 97060 $201,191.48
600107695 TOLBERT MICKEY SPILLAN 1105 WATERVIEW DR CEDAR HILL TX 75104 $102,563.87
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107619 KAMINSKI MYRNA 8.250 .250 8.000 .0400 7.960 10/01/2027
600107631 BERRY GEORGE 8.875 .250 8.625 .0400 8.585 09/01/2027
600107632 ALVES FRANCISCO 8.375 .250 8.125 .0400 8.085 09/01/2027
600107633 VALENTIN ANGEL 8.500 .250 8.250 .0400 8.210 09/01/2027
600107636 WALZ JULIE A 7.750 .250 7.500 .0400 7.460 09/01/2027
600107637 FRENCH JAMES 8.000 .250 7.750 .0400 7.710 09/01/2027
600107638 DUNN LAWRENCE 7.750 .250 7.500 .0400 7.460 09/01/2027
600107640 LEWIS PAMELA 7.500 .250 7.250 .0400 7.210 10/01/2022
600107643 ORENSTEIN GLEN B 7.500 .250 7.250 .0400 7.210 08/01/2027
600107655 SAVITSKY ROMAN 7.250 .250 7.000 .0400 6.960 10/01/2027
600107661 MARINO THERESA L 7.375 .250 7.125 .0400 7.085 10/01/2027
600107680 KYRIAZIS ANTONIO 8.750 .250 8.500 .0400 8.460 10/01/2027
600107692 FLAHERTY CAROLYN A 8.000 .250 7.750 .0400 7.710 10/01/2027
600107695 TOLBERT MICKEY SPILLAN 7.375 .250 7.125 .0400 7.085 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>
600107619 KAMINSKI MYRNA 1589131667 $488.33 01/01/1998 360
600107631 BERRY GEORGE 1590052910 $572.87 01/01/1998 360
600107632 ALVES FRANCISCO 1511166528 $1,362.81 01/01/1998 360
600107633 VALENTIN ANGEL 1589131656 $1,128.00 1 01/01/1998 360
600107636 WALZ JULIE A 1511192459 $1,604.20 01/01/1998 360
600107637 FRENCH JAMES 1513183980 $1,335.45 01/01/1998 360
600107638 DUNN LAWRENCE 1512145240 $1,599.75 19 01/01/1998 360
600107640 LEWIS PAMELA 1500378808 $455.22 01/01/1998 300
600107643 ORENSTEIN GLEN B 1106055586 $1,328.51 01/01/1998 360
600107655 SAVITSKY ROMAN 1101220721 $1,432.57 01/01/1998 360
600107661 MARINO THERESA L 1106078989 $1,547.12 01/01/1998 360
600107680 KYRIAZIS ANTONIO 1500343938 $338.28 01/01/1998 360
600107692 FLAHERTY CAROLYN A 1513194852 $1,479.27 01/01/1998 360
600107695 TOLBERT MICKEY SPILLAN 1563164150 $710.02 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107619 KAMINSKI MYRNA .00 .00 .00 .000 .250 .290 $96,000.00 N
600107631 BERRY GEORGE .00 .00 .00 .000 .250 .290 $90,000.00 N
600107632 ALVES FRANCISCO .00 .00 .00 .000 .250 .290 $238,233.00 N
600107633 VALENTIN ANGEL .00 .00 .00 .000 .250 .290 $163,010.00 N
600107636 WALZ JULIE A .00 .00 .00 .000 .250 .290 $279,900.00 N
600107637 FRENCH JAMES .00 .00 .00 .000 .250 .290 $265,000.00 N
600107638 DUNN LAWRENCE .00 .00 .00 .000 .250 .290 $253,000.00 N
600107640 LEWIS PAMELA .00 .00 .00 .000 .250 .290 $77,000.00 N
600107643 ORENSTEIN GLEN B .00 .00 .00 .000 .250 .290 $248,075.00 N
600107655 SAVITSKY ROMAN .00 .00 .00 .000 .250 .290 $280,000.00 N
600107661 MARINO THERESA L .00 .00 .00 .000 .250 .290 $280,000.00 N
600107680 KYRIAZIS ANTONIO .00 .00 .00 .000 .250 .290 $65,000.00 N
600107692 FLAHERTY CAROLYN A .00 .00 .00 .000 .250 .290 $252,000.00 N
600107695 TOLBERT MICKEY SPILLAN .00 .00 .00 .000 .250 .290 $128,510.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 14
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107702 WHITE MICHAEL C 7279 STATE ROUTE 303 FREEDOM TOWNSHI OH 44288 $122,923.96
600107712 BRAHIMI SHYQERI 314 OSCAWANA LAKE RD PUTNAM VALLEY NY 10579 $164,983.13
600107714 COREA JOSEPH 13 CEDAR HILL DR T/O WARWICK NY 10990 $159,784.56
600107716 HATFIELD TAMARA E 150 E 61ST ST NEW YORK NY 10021 $226,716.82
600107718 OHARE IRENE R 4844 E EDEN DR CAVE CREEK AZ 85331 $199,687.02
600107727 MENDOZA JOSE J 24300 SW 140 AVENUE MIAMI FL 33032 $99,861.91
600107733 VENTOURIS SPYRIDON 2 PENNY LN W NYACK NY 10994 $183,464.91
600107748 BUOEN RICHARD 601 NORTH SUNNYSLOPE PASADENA CA 91107 $217,264.42
600107753 COOKS RUFUS 222 BURNING TREE DR SAN JOSE CA 95119 $226,486.81
600107755 COBB CHRISTOPHER C 2934 GLEN DARBY CT SAN JOSE CA 95148 $226,694.35
600107763 KOY CHRISTIE 25660 E RIVER RD GROSSE ILE MI 48138 $116,112.24
600107767 POTTINGER VICTOR 4719 STARBOARD DR BRADENTON FL 34208 $177,741.50
600107769 HOUFEK DEAN CHARLES 5420 SOUTH 67TH STREE LINCOLN NE 68516 $54,924.05
600107776 BARROWS JAMES R 16564 NE 35TH AVE SEATTLE WA 98155 $171,743.90
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107702 WHITE MICHAEL C 7.500 .250 7.250 .0400 7.210 10/01/2027
600107712 BRAHIMI SHYQERI 8.125 .250 7.875 .0400 7.835 11/01/2027
600107714 COREA JOSEPH 8.000 .250 7.750 .0400 7.710 11/01/2027
600107716 HATFIELD TAMARA E 8.375 .250 8.125 .0400 8.085 11/01/2027
600107718 OHARE IRENE R 7.250 .250 7.000 .0400 6.960 11/01/2027
600107727 MENDOZA JOSE J 7.875 .250 7.625 .0400 7.585 11/01/2027
600107733 VENTOURIS SPYRIDON 8.250 .250 8.000 .0400 7.960 11/01/2027
600107748 BUOEN RICHARD 8.125 .250 7.875 .0400 7.835 11/01/2027
600107753 COOKS RUFUS 7.875 .250 7.625 .0400 7.585 11/01/2027
600107755 COBB CHRISTOPHER C 8.000 .250 7.750 .0400 7.710 11/01/2027
600107763 KOY CHRISTIE 8.625 .250 8.375 .0400 8.335 11/01/2027
600107767 POTTINGER VICTOR 7.625 .250 7.375 .0400 7.335 11/01/2027
600107769 HOUFEK DEAN CHARLES 7.875 .250 7.625 .0400 7.585 11/01/2027
600107776 BARROWS JAMES R 7.500 .250 7.250 .0400 7.210 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>
600107702 WHITE MICHAEL C 1581122210 $861.44 01/01/1998 360
600107712 BRAHIMI SHYQERI 1111133521 $1,226.61 01/01/1998 360
600107714 COREA JOSEPH 1111138117 $1,174.03 01/01/1998 360
600107716 HATFIELD TAMARA E 1111142840 $1,725.37 01/01/1998 360
600107718 OHARE IRENE R 1204005181 $1,364.35 01/01/1998 360
600107727 MENDOZA JOSE J 1311305063 $725.07 01/01/1998 360
600107733 VENTOURIS SPYRIDON 1500341648 $1,380.08 01/01/1998 360
600107748 BUOEN RICHARD 1506347986 $1,615.30 12 01/01/1998 360
600107753 COOKS RUFUS 1506353934 $1,644.46 01/01/1998 360
600107755 COBB CHRISTOPHER C 1506355500 $1,665.65 01/01/1998 360
600107763 KOY CHRISTIE 1507327099 $904.18 01/01/1998 360
600107767 POTTINGER VICTOR 1511193382 $1,259.88 01/01/1998 360
600107769 HOUFEK DEAN CHARLES 1512179911 $398.79 01/01/1998 360
600107776 BARROWS JAMES R 1513207728 $1,202.65 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107702 WHITE MICHAEL C .00 .00 .00 .000 .250 .290 $154,000.00 N
600107712 BRAHIMI SHYQERI .00 .00 .00 .000 .250 .290 $236,000.00 N
600107714 COREA JOSEPH .00 .00 .00 .000 .250 .290 $327,000.00 N
600107716 HATFIELD TAMARA E .00 .00 .00 .000 .250 .290 $327,000.00 N
600107718 OHARE IRENE R .00 .00 .00 .000 .250 .290 $251,500.00 N
600107727 MENDOZA JOSE J .00 .00 .00 .000 .250 .290 $305,000.00 N
600107733 VENTOURIS SPYRIDON .00 .00 .00 .000 .250 .290 $245,052.00 N
600107748 BUOEN RICHARD .00 .00 .00 .000 .250 .290 $229,000.00 N
600107753 COOKS RUFUS .00 .00 .00 .000 .250 .290 $283,500.00 N
600107755 COBB CHRISTOPHER C .00 .00 .00 .000 .250 .290 $294,000.00 N
600107763 KOY CHRISTIE .00 .00 .00 .000 .250 .290 $155,000.00 N
600107767 POTTINGER VICTOR .00 .00 .00 .000 .250 .290 $301,000.00 N
600107769 HOUFEK DEAN CHARLES .00 .00 .00 .000 .250 .290 $137,500.00 N
600107776 BARROWS JAMES R .00 .00 .00 .000 .250 .290 $216,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 15
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107780 CAPPON RICK WAYNE 5045 S 1150 W RIVERDALE UT 84405 $100,653.55
600107781 REYNOLDS JILL A 2785 S MELBOURNE ST SALT LAKE CITY UT 84106 $114,837.15
600107815 MEADORS JARED L 1731 LEXINGTON STREET HOUSTON TX 77098 $119,842.47
600107820 DE PAZ BILL 1328 SE DIVISION ST PORTLAND OR 97202 $103,856.37
600107829 REYNOLDS WAYNE 7617 CASPER COURT JONESBORO GA 30236 $57,915.75
600107835 KNASICK DIANE E 10002 NORTH 35TH STREE PHOENIX AZ 85028 $104,451.86
600107838 WEYER DANIEL J 12804 SANDIA RIDGE PLA ALBUQUERQUE NM 87111 $140,699.49
600107841 FANN LANTA 6045 EBENEZER ROAD GREENBRIER TN 37073 $77,508.03
600107842 KENNETT JAMES ROBERT 6046 COUNTY ROAD 60M TELLURIDE CO 81435 $84,882.62
600107844 HEIN DEREK KENT 456 N 600 E LINDON UT 84042 $219,696.19
600107846 SAVILLE ALAN LEE 2321 DOGWOOD CIR LOUISVILLE CO 80027 $151,773.67
600107849 SAURO JOSEPH M 530 COMSTOCK PARKWAY CRANSTON RI 02910 $183,726.03
600107858 RUCOLAS JR RONALD 124 TANTON HILL RIDGEFIELD CT 06877 $164,772.14
600107862 DAVIS JR EARNEST 10865 STRATMANN AVE DETROIT MI 48224 $59,919.44
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107780 CAPPON RICK WAYNE 7.625 .250 7.375 .0400 7.335 11/01/2027
600107781 REYNOLDS JILL A 7.750 .250 7.500 .0400 7.460 11/01/2027
600107815 MEADORS JARED L 8.125 .250 7.875 .0400 7.835 11/01/2027
600107820 DE PAZ BILL 7.875 .250 7.625 .0400 7.585 11/01/2027
600107829 REYNOLDS WAYNE 7.625 .250 7.375 .0400 7.335 11/01/2027
600107835 KNASICK DIANE E 7.750 .250 7.500 .0400 7.460 11/01/2027
600107838 WEYER DANIEL J 7.750 .250 7.500 .0400 7.460 11/01/2027
600107841 FANN LANTA 8.625 .250 8.375 .0400 8.335 11/01/2027
600107842 KENNETT JAMES ROBERT 7.875 .250 7.625 .0400 7.585 11/01/2027
600107844 HEIN DEREK KENT 7.875 .250 7.625 .0400 7.585 11/01/2027
600107846 SAVILLE ALAN LEE 7.500 .250 7.250 .0400 7.210 11/01/2027
600107849 SAURO JOSEPH M 7.500 .250 7.250 .0400 7.210 11/01/2027
600107858 RUCOLAS JR RONALD 7.875 .250 7.625 .0400 7.585 11/01/2027
600107862 DAVIS JR EARNEST 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>
600107780 CAPPON RICK WAYNE 1513212014 $713.46 01/01/1998 360
600107781 REYNOLDS JILL A 1513212295 $823.87 01/01/1998 360
600107815 MEADORS JARED L 1563175292 $891.00 01/01/1998 360
600107820 DE PAZ BILL 1565175599 $754.08 01/01/1998 360
600107829 REYNOLDS WAYNE 1566113531 $410.53 01/01/1998 360
600107835 KNASICK DIANE E 1569184580 $749.37 01/01/1998 360
600107838 WEYER DANIEL J 1569186305 $1,010.15 01/01/1998 360
600107841 FANN LANTA 1577105943 $603.57 01/01/1998 360
600107842 KENNETT JAMES ROBERT 1579063094 $616.31 01/01/1998 360
600107844 HEIN DEREK KENT 1579063538 $1,595.16 01/01/1998 360
600107846 SAVILLE ALAN LEE 1579063731 $1,062.81 01/01/1998 360
600107849 SAURO JOSEPH M 1580065235 $1,286.56 01/01/1998 360
600107858 RUCOLAS JR RONALD 1580066170 $1,196.37 01/01/1998 360
600107862 DAVIS JR EARNEST 1581133589 $461.35 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107780 CAPPON RICK WAYNE .00 .00 .00 .000 .250 .290 $126,000.00 N
600107781 REYNOLDS JILL A .00 .00 .00 .000 .250 .290 $144,000.00 N
600107815 MEADORS JARED L .00 .00 .00 .000 .250 .290 $183,000.00 N
600107820 DE PAZ BILL .00 .00 .00 .000 .250 .290 $150,000.00 N
600107829 REYNOLDS WAYNE .00 .00 .00 .000 .250 .290 $73,000.00 N
600107835 KNASICK DIANE E .00 .00 .00 .000 .250 .290 $135,000.00 N
600107838 WEYER DANIEL J .00 .00 .00 .000 .250 .290 $202,000.00 N
600107841 FANN LANTA .00 .00 .00 .000 .250 .290 $97,000.00 N
600107842 KENNETT JAMES ROBERT .00 .00 .00 .000 .250 .290 $750,000.00 N
600107844 HEIN DEREK KENT .00 .00 .00 .000 .250 .290 $275,000.00 N
600107846 SAVILLE ALAN LEE .00 .00 .00 .000 .250 .290 $190,000.00 N
600107849 SAURO JOSEPH M .00 .00 .00 .000 .250 .290 $230,000.00 N
600107858 RUCOLAS JR RONALD .00 .00 .00 .000 .250 .290 $272,000.00 N
600107862 DAVIS JR EARNEST .00 .00 .00 .000 .250 .290 $75,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 16
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107866 WOOD BRIAN 13583 NEW LOTHROP RD BYRON MI 48418 $167,795.72
600107875 JULIS ANTHONY J 2706 DORIS DRIVE WILMINGTON DE 19803 $107,850.85
600107877 DHANASEKARAN NATARAJAN 103 DRAKES DRUM DRIV BRYN MAWR PA 19010 $221,693.43
600107878 DERESSA TESSO H 5938 LANGTON DRIVE ALEXANDRIA VA 22310 $124,827.38
600107880 CUETO MARIA TERESA 2450 SW 59TH AVE MIAMI FL 33155 $116,834.29
600107894 MANNING BRUCE L 22815 FORTUNA LANE MISSION VIEJO CA 92691 $189,344.71
600107899 MORRIS SHARON BETH 4138 CARAVANA ROAD WOODLAND HILLS CA 91364 $224,673.26
600107911 VOGEL MARINA H 4698 CALLE REINA SANTA BARBARA CA 93110 $223,666.46
600107917 MEANEY SHAWN 2841 SOUTH OCEAN AVEN CAYUCOS CA 93430 $191,728.08
600107931 FERUCCI ANTHONY 288 MADISON AVE FRANKLIN SQUARE NY 11010 $99,936.23
600107933 OPERARIO LOURDES 240 E 76TH ST NEW YORK NY 10021 $134,312.08
600107934 JENSEN EDWARD R 79 WEXFORD DR OAKDALE NY 11769 $129,667.26
600107935 PERUGINI THOMAS GREEN WOOD CT GREENVILLE NY 12083 $119,923.48
600107939 SZCZEPANIAK MARIUSZ 76 GRANT AVE EAST ROCKAWAY NY 11518 $169,885.93
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107866 WOOD BRIAN 8.500 .250 8.250 .0400 8.210 11/01/2027
600107875 JULIS ANTHONY J 7.875 .250 7.625 .0400 7.585 11/01/2027
600107877 DHANASEKARAN NATARAJAN 7.875 .250 7.625 .0400 7.585 11/01/2027
600107878 DERESSA TESSO H 7.875 .250 7.625 .0400 7.585 11/01/2027
600107880 CUETO MARIA TERESA 7.750 .250 7.500 .0400 7.460 11/01/2027
600107894 MANNING BRUCE L 8.000 .250 7.750 .0400 7.710 11/01/2027
600107899 MORRIS SHARON BETH 7.625 .250 7.375 .0400 7.335 11/01/2027
600107911 VOGEL MARINA H 7.500 .250 7.250 .0400 7.210 11/01/2027
600107917 MEANEY SHAWN 7.750 .250 7.500 .0400 7.460 11/01/2027
600107931 FERUCCI ANTHONY 8.250 .250 8.000 .0400 7.960 12/01/2027
600107933 OPERARIO LOURDES 8.125 .250 7.875 .0400 7.835 12/01/2027
600107934 JENSEN EDWARD R 8.250 .250 8.000 .0400 7.960 12/01/2027
600107935 PERUGINI THOMAS 8.250 .250 8.000 .0400 7.960 12/01/2027
600107939 SZCZEPANIAK MARIUSZ 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>
600107866 WOOD BRIAN 1581135788 $1,291.78 01/01/1998 360
600107875 JULIS ANTHONY J 1587089923 $783.08 01/01/1998 360
600107877 DHANASEKARAN NATARAJAN 1587090693 $1,609.66 19 01/01/1998 360
600107878 DERESSA TESSO H 1587090773 $906.34 01/01/1998 360
600107880 CUETO MARIA TERESA 1589139750 $838.21 01/01/1998 360
600107894 MANNING BRUCE L 1595061850 $1,391.22 01/01/1998 360
600107899 MORRIS SHARON BETH 1596046728 $1,592.54 01/01/1998 360
600107911 VOGEL MARINA H 1596049737 $1,566.25 01/01/1998 360
600107917 MEANEY SHAWN 1596051138 $1,375.52 01/01/1998 360
600107931 FERUCCI ANTHONY 1111130013 $751.27 01/01/1998 360
600107933 OPERARIO LOURDES 1111130454 $997.92 01/01/1998 360
600107934 JENSEN EDWARD R 1111131559 $974.77 01/01/1998 360
600107935 PERUGINI THOMAS 1111131785 $901.52 01/01/1998 360
600107939 SZCZEPANIAK MARIUSZ 1111139233 $1,247.40 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107866 WOOD BRIAN .00 .00 .00 .000 .250 .290 $210,000.00 N
600107875 JULIS ANTHONY J .00 .00 .00 .000 .250 .290 $135,000.00 N
600107877 DHANASEKARAN NATARAJAN .00 .00 .00 .000 .250 .290 $255,000.00 N
600107878 DERESSA TESSO H .00 .00 .00 .000 .250 .290 $180,000.00 N
600107880 CUETO MARIA TERESA .00 .00 .00 .000 .250 .290 $156,000.00 N
600107894 MANNING BRUCE L .00 .00 .00 .000 .250 .290 $237,000.00 N
600107899 MORRIS SHARON BETH .00 .00 .00 .000 .250 .290 $305,000.00 N
600107911 VOGEL MARINA H .00 .00 .00 .000 .250 .290 $280,000.00 N
600107917 MEANEY SHAWN .00 .00 .00 .000 .250 .290 $240,000.00 N
600107931 FERUCCI ANTHONY .00 .00 .00 .000 .250 .290 $200,000.00 N
600107933 OPERARIO LOURDES .00 .00 .00 .000 .250 .290 $168,000.00 N
600107934 JENSEN EDWARD R .00 .00 .00 .000 .250 .290 $173,000.00 N
600107935 PERUGINI THOMAS .00 .00 .00 .000 .250 .290 $170,000.00 N
600107939 SZCZEPANIAK MARIUSZ .00 .00 .00 .000 .250 .290 $230,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 17
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107946 MADRID THOMAS 580 WYANDOT TR WESTCLIFFE CO 81252 $97,531.11
600107949 CRAMM CHRISTOPHER R 2417 PISTACHIO DRIVE IRVING TX 75063 $143,905.80
600107951 KNIGHT BENJAMIN SCOTT 73098 VERONICA BLVD COVINGTON LA 70433 $89,938.06
600107956 JOHNSON RICHARD A 5916 NORTH 450 FAIRLAND IN 46126 $59,963.65
600107957 LASHLEY CHARLES R 7643 SOUTH RIDGE ROAD MADISON OH 44057 $131,906.83
600107958 MORRIS BURTON C 110 ASHLEY COURT PITTSBURGH PA 15221 $168,624.76
600107959 BAIRD STEVAN B 4423 FARGREEN ROAD SUSQUEHANNA TOW PA 17110 $218,349.63
600107962 THARALDSON THOMAS R 115 PARKLAND AVENUE DULUTH MN 55805 $63,952.50
600107966 MOORE KIM L 1470 HIGHWAY 414 TRAVELERS REST SC 29690 $66,664.93
600108047 CHAO KARYN 561 MADISON AVE BALDWIN NY 11510 $223,745.68
600108050 SWERDLOW JANET BUFFFULO AVENUE MEDFORD NY 11375 $130,964.26
600108051 CIRLINCIONE MICHAEL 569 IONIA AVE STATEN ISLAND NY 10312 $220,187.74
600108059 KORNFELD BURTON S 7654 TALL PINE DR PINETOP AZ 85935 $148,534.00
600108067 WILLIAMS PATTI A 2005 EVELYN AVENUE MEMPHIS TN 38104 $39,943.36
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107946 MADRID THOMAS 7.750 .250 7.500 .0400 7.460 12/01/2027
600107949 CRAMM CHRISTOPHER R 8.125 .250 7.875 .0400 7.835 12/01/2027
600107951 KNIGHT BENJAMIN SCOTT 7.875 .250 7.625 .0400 7.585 12/01/2027
600107956 JOHNSON RICHARD A 8.500 .250 8.250 .0400 8.210 12/01/2027
600107957 LASHLEY CHARLES R 7.750 .250 7.500 .0400 7.460 12/01/2027
600107958 MORRIS BURTON C 7.500 .250 7.250 .0400 7.210 12/01/2027
600107959 BAIRD STEVAN B 7.875 .250 7.625 .0400 7.585 12/01/2027
600107962 THARALDSON THOMAS R 7.500 .250 7.250 .0400 7.210 12/01/2027
600107966 MOORE KIM L 7.750 .250 7.500 .0400 7.460 11/01/2017
600108047 CHAO KARYN 8.000 .250 7.750 .0400 7.710 10/01/2027
600108050 SWERDLOW JANET 7.750 .250 7.500 .0400 7.460 11/01/2027
600108051 CIRLINCIONE MICHAEL 7.750 .250 7.500 .0400 7.460 11/01/2027
600108059 KORNFELD BURTON S 7.625 .250 7.375 .0400 7.335 11/01/2027
600108067 WILLIAMS PATTI A 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>
600107946 MADRID THOMAS 1272089130 $699.22 01/01/1998 360
600107949 CRAMM CHRISTOPHER R 1524015944 $1,069.20 01/01/1998 360
600107951 KNIGHT BENJAMIN SCOTT 1566094663 $652.57 01/01/1998 360
600107956 JOHNSON RICHARD A 1581120714 $461.35 01/01/1998 360
600107957 LASHLEY CHARLES R 1581135610 $945.67 01/01/1998 360
600107958 MORRIS BURTON C 1581138130 $1,179.93 01/01/1998 360
600107959 BAIRD STEVAN B 1581140813 $1,584.28 14 01/01/1998 360
600107962 THARALDSON THOMAS R 1583074017 $447.50 01/01/1998 360
600107966 MOORE KIM L 1577102220 $549.22 2 01/01/1998 240
600108047 CHAO KARYN 1500387649 $1,645.10 2 01/01/1998 360
600108050 SWERDLOW JANET 1106090770 $939.58 01/01/1998 360
600108051 CIRLINCIONE MICHAEL 1111118630 $1,579.69 01/01/1998 360
600108059 KORNFELD BURTON S 1209001461 $1,052.84 12 01/01/1998 360
600108067 WILLIAMS PATTI A 1345003510 $286.56 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600107946 MADRID THOMAS .00 .00 .00 .000 .250 .290 $122,000.00 N
600107949 CRAMM CHRISTOPHER R .00 .00 .00 .000 .250 .290 $180,000.00 N
600107951 KNIGHT BENJAMIN SCOTT .00 .00 .00 .000 .250 .290 $120,000.00 N
600107956 JOHNSON RICHARD A .00 .00 .00 .000 .250 .290 $75,000.00 N
600107957 LASHLEY CHARLES R .00 .00 .00 .000 .250 .290 $165,000.00 N
600107958 MORRIS BURTON C .00 .00 .00 .000 .250 .290 $225,000.00 N
600107959 BAIRD STEVAN B .00 .00 .00 .000 .250 .290 $230,000.00 N
600107962 THARALDSON THOMAS R .00 .00 .00 .000 .250 .290 $80,000.00 N
600107966 MOORE KIM L .00 .00 .00 .000 .250 .290 $77,500.00 N
600108047 CHAO KARYN .00 .00 .00 .000 .250 .290 $236,000.00 N
600108050 SWERDLOW JANET .00 .00 .00 .000 .250 .290 $174,900.00 N
600108051 CIRLINCIONE MICHAEL .00 .00 .00 .000 .250 .290 $315,000.00 N
600108059 KORNFELD BURTON S .00 .00 .00 .000 .250 .290 $175,000.00 N
600108067 WILLIAMS PATTI A .00 .00 .00 .000 .250 .290 $85,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 18
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600108091 JOHNSON MARK E 11100 SW TONY CT TIGARD OR 97223 $161,365.34
600108104 RAMIREZ JOSE 9248 N 119TH ST LONGMONT CO 80501 $81,481.50
600108107 SKIFFINGTON RICHARD T 35 PLEASANT STREET NORTH READING MA 01864 $217,698.94
600108113 BERRY JR THOMAS 5222 RUSSELL AVE 24 TAMPA FL 33611 $107,101.89
600108125 STEPHENS MD JOSEPH 195 N HARBOR DR UNIT CHICAGO IL 60601 $219,780.39
600108126 WILLIAMS ELIZABETH CUR 4070 52ND STREET NW WASHINGTON DC 20016 $224,665.00
600108128 DALRYMPLE ROBERT E 6818 ONTARIO ST SPRINGFIELD VA 22152 $152,578.11
600109165 Perlmeter 7 Marcie Woods Court Baltimore MD 21208 $222,026.41
600109304 HOLLEN, JOHN 47 PINE MEADOWS DRIVE EXETER NH 03833 $96,241.66
600109305 HARPER, JAMES 85 MAIN STREET GARDEN CITY GA 31408 $80,051.48
600109406 CANTU 31535 MEADOW CREEK FAIR OAKS RANCH TX 78015 $223,223.29
600109408 SKINNER 6606 GREEN ROAD HARVARD IL 60033 $224,347.98
600109415 NEVITTE 131 MARY MUSGROVE DRIVE SAVANNAH GA 31410 $124,666.30
600109417 DAY 2013 LAURIE LANE HOLLAND MI 49424 $162,239.03
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600108091 JOHNSON MARK E 7.625 .250 7.375 .0400 7.335 11/01/2027
600108104 RAMIREZ JOSE 7.625 .250 7.375 .0400 7.335 11/01/2027
600108107 SKIFFINGTON RICHARD T 7.875 .250 7.625 .0400 7.585 11/01/2027
600108113 BERRY JR THOMAS 7.875 .250 7.625 .0400 7.585 11/01/2027
600108125 STEPHENS MD JOSEPH 7.625 .250 7.375 .0400 7.335 11/01/2027
600108126 WILLIAMS ELIZABETH CUR 7.500 .250 7.250 .0400 7.210 11/01/2027
600108128 DALRYMPLE ROBERT E 7.625 .250 7.375 .0400 7.335 11/01/2027
600109165 Perlmeter 8.125 .250 7.875 .0500 7.825 06/01/2026
600109304 HOLLEN, JOHN 8.500 .250 8.250 .0500 8.200 12/01/2027
600109305 HARPER, JAMES 8.500 .250 8.250 .0500 8.200 12/01/2027
600109406 CANTU 7.750 .250 7.500 .0500 7.450 11/01/2027
600109408 SKINNER 8.375 .250 8.125 .0500 8.075 09/01/2027
600109415 NEVITTE 8.000 .250 7.750 .0500 7.700 12/01/2027
600109417 DAY 8.125 .250 7.875 .0500 7.825 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>
600108091 JOHNSON MARK E 1565174279 $1,143.79 01/01/1998 360
600108104 RAMIREZ JOSE 1579063200 $577.56 01/01/1998 360
600108107 SKIFFINGTON RICHARD T 1580066351 $1,580.66 01/01/1998 360
600108113 BERRY JR THOMAS 1589142335 $777.64 01/01/1998 360
600108125 STEPHENS MD JOSEPH 1614016975 $1,557.85 2 01/01/1998 360
600108126 WILLIAMS ELIZABETH CUR 1731154376 $1,573.23 01/01/1998 360
600108128 DALRYMPLE ROBERT E 1761115883 $1,081.51 01/01/1998 360
600109165 Perlmeter 39034418 $1,670.62 01/01/1998 360
600109304 HOLLEN, JOHN 450951009 $740.47 2 01/01/1998 360
600109305 HARPER, JAMES 450952643 $615.90 2 01/01/1998 360
600109406 CANTU 0919248 $1,602.61 01/01/1998 360
600109408 SKINNER 0923516 $1,710.17 01/01/1998 360
600109415 NEVITTE 0930607 $915.37 01/01/1998 360
600109417 DAY 0931344 $1,206.56 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600108091 JOHNSON MARK E .00 .00 .00 .000 .250 .290 $202,000.00 N
600108104 RAMIREZ JOSE .00 .00 .00 .000 .250 .290 $102,000.00 N
600108107 SKIFFINGTON RICHARD T .00 .00 .00 .000 .250 .290 $283,000.00 N
600108113 BERRY JR THOMAS .00 .00 .00 .000 .250 .290 $143,000.00 N
600108125 STEPHENS MD JOSEPH .00 .00 .00 .000 .250 .290 $232,000.00 N
600108126 WILLIAMS ELIZABETH CUR .00 .00 .00 .000 .250 .290 $735,000.00 N
600108128 DALRYMPLE ROBERT E .00 .00 .00 .000 .250 .290 $191,000.00 N
600109165 Perlmeter .00 .00 .00 .000 .250 .300 $362,500.00 N
600109304 HOLLEN, JOHN .00 .00 .00 .000 .250 .300 $108,000.00 N
600109305 HARPER, JAMES .00 .00 .00 .000 .250 .300 $89,000.00 N
600109406 CANTU .00 .00 .00 .000 .250 .300 $288,700.00 N
600109408 SKINNER .00 .00 .00 .000 .250 .300 $440,000.00 N
600109415 NEVITTE .00 .00 .00 .000 .250 .300 $166,395.00 N
600109417 DAY .00 .00 .00 .000 .250 .300 $240,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 19
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109422 AMIDEI 432 BUCHANAN VERNON HILLS IL 60061 $74,159.76
600109424 MIEGS 130 PEMBROKE CIRCLE LAKE BLUFF IL 60044 $159,795.24
600109425 VELMOSKY 86 PEARL AVENUE BLASDELL NY 14219 $46,942.86
600109426 TRASK IV 5811 PONTIAC TRAIL WEST BLOOMFIELD MI 48323 $161,397.01
600109430 WALTERS 793 MARINER DRIVE EATON OH 45320 $97,156.20
600109431 ZYWIOLEK 10003 OLD FREDERICK RD ELLICOTT CITY MD 21042 $219,388.42
600109434 NETTLETO 6650 BUCKINGHAM CIRCLE CUMMING GA 30040 $217,723.20
600109435 GECEWICZ 2318 TALL TIMBERS LANE MARIETTA GA 30066 $195,183.17
600109438 BROWN 1390 SHAG RAG ROAD COOKEVILLE TN 38501 $84,827.16
600109440 SCHWARTZ 1300 JEFFERSON STREET KERRVILLE TX 78028 $48,517.67
600109441 MULLEN 13105 WEST 128TH PLACE OVERLAND PARK KS 66213 $214,332.29
600109442 GOLSON 266 SE 101 RD WARRENSBURG MO 64093 $150,212.38
600109443 SMITH 477 WHITE BEAR AVENUE ST PAUL MN 55106 $73,375.46
600109445 DAVISON 5940 KELLY COURT ALEXANDRIA VA 22312 $183,409.13
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109422 AMIDEI 8.375 .250 8.125 .0500 8.075 08/01/2027
600109424 MIEGS 8.250 .250 8.000 .0500 7.950 11/01/2027
600109425 VELMOSKY 8.500 .250 8.250 .0500 8.200 11/01/2027
600109426 TRASK IV 8.250 .250 8.000 .0500 7.950 12/01/2027
600109430 WALTERS 8.500 .250 8.250 .0500 8.200 09/01/2027
600109431 ZYWIOLEK 7.875 .250 7.625 .0500 7.575 09/01/2027
600109434 NETTLETO 7.625 .250 7.375 .0500 7.325 10/01/2027
600109435 GECEWICZ 7.750 .250 7.500 .0500 7.450 10/01/2027
600109438 BROWN 7.750 .250 7.500 .0500 7.450 11/01/2027
600109440 SCHWARTZ 8.875 .250 8.625 .0500 8.575 10/01/2027
600109441 MULLEN 8.375 .250 8.125 .0500 8.075 11/01/2027
600109442 GOLSON 8.375 .250 8.125 .0500 8.075 11/01/2027
600109443 SMITH 8.875 .250 8.625 .0500 8.575 10/01/2027
600109445 DAVISON 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>
600109422 AMIDEI 0938203 $571.57 01/01/1998 360
600109424 MIEGS 0938483 $1,202.03 01/01/1998 360
600109425 VELMOSKY 0939296 $361.39 01/01/1998 360
600109426 TRASK IV 0939317 $1,213.30 01/01/1998 360
600109430 WALTERS 0940256 $752.00 01/01/1998 360
600109431 ZYWIOLEK 0940355 $1,595.15 01/01/1998 360
600109434 NETTLETO 0940646 $1,544.41 12 01/01/1998 360
600109435 GECEWICZ 0940740 $1,401.30 01/01/1998 360
600109438 BROWN 0942914 $608.95 01/01/1998 360
600109440 SCHWARTZ 0943579 $386.68 2 01/01/1998 360
600109441 MULLEN 0943596 $1,631.12 01/01/1998 360
600109442 GOLSON 0943730 $1,143.15 01/01/1998 360
600109443 SMITH 0943845 $584.80 01/01/1998 360
600109445 DAVISON 0944923 $1,302.34 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109422 AMIDEI .00 .00 .00 .000 .250 .300 $94,000.00 N
600109424 MIEGS .00 .00 .00 .000 .250 .300 $200,000.00 N
600109425 VELMOSKY .00 .00 .00 .000 .250 .300 $82,000.00 N
600109426 TRASK IV .00 .00 .00 .000 .250 .300 $220,500.00 N
600109430 WALTERS .00 .00 .00 .000 .250 .300 $130,500.00 N
600109431 ZYWIOLEK .00 .00 .00 .000 .250 .300 $280,000.00 N
600109434 NETTLETO .00 .00 .00 .000 .250 .300 $258,242.00 N
600109435 GECEWICZ .00 .00 .00 .000 .250 .300 $244,528.00 N
600109438 BROWN .00 .00 .00 .000 .250 .300 $119,000.00 N
600109440 SCHWARTZ .00 .00 .00 .000 .250 .300 $54,000.00 N
600109441 MULLEN .00 .00 .00 .000 .250 .300 $283,000.00 N
600109442 GOLSON .00 .00 .00 .000 .250 .300 $188,000.00 N
600109443 SMITH .00 .00 .00 .000 .250 .300 $98,000.00 N
600109445 DAVISON .00 .00 .00 .000 .250 .300 $230,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 20
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109450 YOUSIF 31137 TIVERTON FARMINGTON HILL MI 48331 $138,782.44
600109453 FALTISCO 307 N WOOSTER AVE STRASBURG OH 44680 $64,275.69
600109454 ARDEKANI 1845 FIG STREET METAIRIE LA 70001 $77,951.52
600109455 HOOG 45 WKATHLEEN DRIVE DES PLAINES IL 60016 $162,546.97
600109456 WEINAND 906 NORTH HARLEM AVENUE RIVER FORREST IL 60305 $126,837.48
600109459 PIERSON 914 MIRIAM DRIVE WEST COLUMBUS OH 43204 $49,937.62
600109460 KILCOIN 619 THORNWOOD DR ORANGE PARK FL 32073 $113,857.80
600109461 BARLETTA 50 NEW WAY LANE GLOUCHESTER MA 01930 $146,903.84
600109464 EBY SR 8944 LAMPLIGHTER LANE CADILLAC MI 49601 $127,332.64
600109465 GALLUP I 2641 BOSTON ST SE EAST GRAND RAPI MI 49506 $159,784.58
600109467 HUJER 806 PAHL ROAD ELK GROVE IL 60007 $74,908.80
600109470 BENHAM 4083 BROCKTON MANOR NORTH GREENWOOD IN 46143 $194,761.66
600109474 ANDERSON 7650 2 MILE ROAD NE ADA MI 49301 $159,514.54
600109476 BRADY 3423 ORMOND RD WHITE LAKE MI 48383 $64,806.48
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109450 YOUSIF 8.000 .250 7.750 .0500 7.700 10/01/2027
600109453 FALTISCO 8.750 .250 8.500 .0500 8.450 11/01/2027
600109454 ARDEKANI 8.375 .250 8.125 .0500 8.075 12/01/2027
600109455 HOOG 8.375 .250 8.125 .0500 8.075 11/01/2027
600109456 WEINAND 8.250 .250 8.000 .0500 7.950 11/01/2027
600109459 PIERSON 8.375 .250 8.125 .0500 8.075 11/01/2027
600109460 KILCOIN 8.375 .250 8.125 .0500 8.075 11/01/2027
600109461 BARLETTA 8.125 .250 7.875 .0500 7.825 12/01/2027
600109464 EBY SR 8.125 .250 7.875 .0500 7.825 11/01/2027
600109465 GALLUP I 8.000 .250 7.750 .0500 7.700 11/01/2027
600109467 HUJER 8.500 .250 8.250 .0400 8.210 11/01/2027
600109470 BENHAM 8.500 .250 8.250 .0500 8.200 11/01/2027
600109474 ANDERSON 8.375 .250 8.125 .0500 8.075 11/01/2027
600109476 BRADY 8.000 .250 7.750 .0500 7.700 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>
600109450 YOUSIF 0945923 $1,023.60 01/01/1998 360
600109453 FALTISCO 0946827 $506.24 12 01/01/1998 360
600109454 ARDEKANI 0946936 $592.86 01/01/1998 360
600109455 HOOG 0947046 $1,237.02 01/01/1998 360
600109456 WEINAND 0947210 $954.11 01/01/1998 360
600109459 PIERSON 0948098 $380.04 01/01/1998 360
600109460 KILCOIN 0948321 $866.48 01/01/1998 360
600109461 BARLETTA 0948362 $1,091.47 01/01/1998 360
600109464 EBY SR 0948567 $946.68 01/01/1998 360
600109465 GALLUP I 0948569 $1,174.02 01/01/1998 360
600109467 HUJER 0948724 $576.69 01/01/1998 360
600109470 BENHAM 0949172 $1,499.38 01/01/1998 360
600109474 ANDERSON 0949349 $1,216.12 01/01/1998 360
600109476 BRADY 0949413 $475.85 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109450 YOUSIF .00 .00 .00 .000 .250 .300 $270,000.00 N
600109453 FALTISCO .00 .00 .00 .000 .250 .300 $71,500.00 N
600109454 ARDEKANI .00 .00 .00 .000 .250 .300 $178,000.00 N
600109455 HOOG .00 .00 .00 .000 .250 .300 $218,000.00 N
600109456 WEINAND .00 .00 .00 .000 .250 .300 $239,000.00 N
600109459 PIERSON .00 .00 .00 .000 .250 .300 $81,000.00 N
600109460 KILCOIN .00 .00 .00 .000 .250 .300 $240,000.00 N
600109461 BARLETTA .00 .00 .00 .000 .250 .300 $195,000.00 N
600109464 EBY SR .00 .00 .00 .000 .250 .300 $170,000.00 N
600109465 GALLUP I .00 .00 .00 .000 .250 .300 $200,000.00 N
600109467 HUJER .00 .00 .00 .000 .250 .290 $102,000.00 N
600109470 BENHAM .00 .00 .00 .000 .250 .300 $310,000.00 N
600109474 ANDERSON .00 .00 .00 .000 .250 .300 $425,000.00 N
600109476 BRADY .00 .00 .00 .000 .250 .300 $86,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 21
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109477 FREIMAN 525 SOUTH UNION STREET AURORA IL 60505 $52,436.16
600109479 IAFRATE 41 BLANTYRE AVENUE CENTERVILLE MA 02632 $168,789.19
600109482 SOLOMON 123 NORTH MAIN ST SHARON MA 02067 $171,801.38
600109484 HEIN 385 STRICKLAND ROAD ALPHARETTA GA 30004 $72,255.02
600109485 JOHNSON 12 COBBLESTONE LANE HUNTINGTON WV 25705 $77,900.18
600109486 BREINING 532 N 15TH ST ALLENTOWN PA 18102 $56,832.58
600109487 MILLER 10705 MELISSA ANN DR INDIANAPOLIS IN 46234 $110,122.67
600109490 KNOWLES 1825 1827 CARR AVENUE GLENWOOD FL 32174 $65,619.81
600109494 KWASNY 7017 MUNSELL HOWELL MI 48843 $158,096.52
600109495 WOOLSEY 3501 SEAVER ROAD MILFORD MI 48380 $139,908.42
600109499 SKRZYPCZ 1114 NOBLE STREET HOUSTON TX 77009 $35,978.19
600109500 PALMER 1693 PEARL CT CRYSTAL LAKE IL 60014 $109,448.64
600109501 GARCIA 3336 S HAMILTON ST CHICAGO IL 60608 $121,036.82
600109502 GEHRKE 9132 CLAIRMONT COURT ORLAND PARK IL 60462 $80,949.65
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109477 FREIMAN 8.500 .250 8.250 .0500 8.200 11/01/2027
600109479 IAFRATE 8.375 .250 8.125 .0500 8.075 11/01/2027
600109482 SOLOMON 8.750 .250 8.500 .0500 8.450 11/01/2027
600109484 HEIN 8.125 .250 7.875 .0500 7.825 11/01/2027
600109485 JOHNSON 8.250 .250 8.000 .0500 7.950 11/01/2027
600109486 BREINING 8.625 .250 8.375 .0500 8.325 11/01/2027
600109487 MILLER 8.750 .250 8.500 .0500 8.450 11/01/2027
600109490 KNOWLES 8.500 .250 8.250 .0500 8.200 11/01/2027
600109494 KWASNY 8.125 .250 7.875 .0500 7.825 12/01/2027
600109495 WOOLSEY 8.125 .250 7.875 .0500 7.825 12/01/2027
600109499 SKRZYPCZ 8.500 .250 8.250 .0500 8.200 12/01/2027
600109500 PALMER 7.875 .250 7.625 .0500 7.575 11/01/2027
600109501 GARCIA 8.000 .250 7.750 .0500 7.700 11/01/2027
600109502 GEHRKE 8.375 .250 8.125 .0500 8.075 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>
600109477 FREIMAN 0949424 $403.68 01/01/1998 360
600109479 IAFRATE 0949808 $1,284.52 01/01/1998 360
600109482 SOLOMON 0950071 $1,353.12 01/01/1998 360
600109484 HEIN 0950179 $537.20 01/01/1998 360
600109485 JOHNSON 0950186 $585.99 01/01/1998 360
600109486 BREINING 0950331 $442.56 2 01/01/1998 360
600109487 MILLER 0950353 $867.34 01/01/1998 360
600109490 KNOWLES 0950887 $505.17 19 01/01/1998 360
600109494 KWASNY 0951130 $1,174.63 01/01/1998 360
600109495 WOOLSEY 0951131 $1,039.50 01/01/1998 360
600109499 SKRZYPCZ 0951397 $276.81 2 01/01/1998 360
600109500 PALMER 0951425 $794.68 01/01/1998 360
600109501 GARCIA 0951463 $889.32 01/01/1998 360
600109502 GEHRKE 0951467 $615.66 12 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109477 FREIMAN .00 .00 .00 .000 .250 .300 $70,000.00 N
600109479 IAFRATE .00 .00 .00 .000 .250 .300 $222,000.00 N
600109482 SOLOMON .00 .00 .00 .000 .250 .300 $230,000.00 N
600109484 HEIN .00 .00 .00 .000 .250 .300 $96,500.00 N
600109485 JOHNSON .00 .00 .00 .000 .250 .300 $104,000.00 N
600109486 BREINING .00 .00 .00 .000 .250 .300 $68,000.00 N
600109487 MILLER .00 .00 .00 .000 .250 .300 $147,000.00 N
600109490 KNOWLES .00 .00 .00 .000 .250 .300 $73,000.00 N
600109494 KWASNY .00 .00 .00 .000 .250 .300 $200,188.00 N
600109495 WOOLSEY .00 .00 .00 .000 .250 .300 $310,000.00 N
600109499 SKRZYPCZ .00 .00 .00 .000 .250 .300 $40,000.00 N
600109500 PALMER .00 .00 .00 .000 .250 .300 $137,000.00 N
600109501 GARCIA .00 .00 .00 .000 .250 .300 $151,500.00 N
600109502 GEHRKE .00 .00 .00 .000 .250 .300 $90,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 22
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109504 HATZIHRI 4213 N OZANAM NORRIDGE IL 60634 $146,212.66
600109507 SHNAYDER 44 FAIRWAY CIRCLE NATICK MA 01760 $189,582.09
600109510 HOPPING 11 BELLARMINE ROCHESTER MI 48309 $99,942.47
600109511 SMITH 1056 ARAPAHO AVE COLUMBUS OH 43085 $104,632.11
600109513 SCHULTE 1709 W 5TH ST ASHTABULA OH 44004 $48,946.26
600109514 QUILLING 2303 FAIRVIEW LANE MCHENRY IL 60050 $99,865.37
600109515 BRANSON 148 BUTTLES AVE COLUMBUS OH 43215 $184,791.81
600109516 HAMNER 10439 WATKINS RD PATASKALA OH 43062 $83,546.69
600109521 BLOMBECK 1015 BRADDOCK CIRCLE WOODSTOCK GA 30189 $77,697.88
600109522 STEWART 961 BALI RD COCOA BEACH FL 32931 $153,542.99
600109524 MARTIN 28300 12 MILE RD FARMINGTON HILL MI 48334 $224,856.53
600109527 SPOERLE 5855 PRICE COURT INDIANAPOLIS IN 46254 $48,940.41
600109529 SKY 5009 CEDAR LANE BETHESDA MD 20814 $219,703.79
600109531 KAMAUFF 10207 RACQUET CIRCLE MANASSAS VA 20110 $153,690.92
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109504 HATZIHRI 8.250 .250 8.000 .0500 7.950 11/01/2027
600109507 SHNAYDER 8.375 .250 8.125 .0500 8.075 12/01/2027
600109510 HOPPING 8.750 .250 8.500 .0500 8.450 12/01/2027
600109511 SMITH 8.875 .250 8.625 .0500 8.575 11/01/2027
600109513 SCHULTE 9.000 .250 8.750 .0500 8.700 11/01/2027
600109514 QUILLING 8.000 .250 7.750 .0500 7.700 11/01/2027
600109515 BRANSON 8.875 .250 8.625 .0500 8.575 11/01/2027
600109516 HAMNER 8.250 .250 8.000 .0500 7.950 12/01/2027
600109521 BLOMBECK 8.125 .250 7.875 .0500 7.825 11/01/2027
600109522 STEWART 8.000 .250 7.750 .0500 7.700 11/01/2027
600109524 MARTIN 8.250 .250 8.000 .0500 7.950 12/01/2027
600109527 SPOERLE 8.500 .250 8.250 .0500 8.200 11/01/2027
600109529 SKY 8.000 .250 7.750 .0500 7.700 11/01/2027
600109531 KAMAUFF 8.000 .250 7.750 .0500 7.700 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>
600109504 HATZIHRI 0951667 $1,099.85 01/01/1998 360
600109507 SHNAYDER 0951727 $1,441.86 01/01/1998 360
600109510 HOPPING 0951957 $786.70 01/01/1998 360
600109511 SMITH 0951958 $833.44 12 01/01/1998 360
600109513 SCHULTE 0952055 $394.27 12 01/01/1998 360
600109514 QUILLING 0952138 $733.76 01/01/1998 360
600109515 BRANSON 0953215 $1,471.94 01/01/1998 360
600109516 HAMNER 0953243 $628.06 01/01/1998 360
600109521 BLOMBECK 0953520 $577.66 01/01/1998 360
600109522 STEWART 0953543 $1,128.16 01/01/1998 360
600109524 MARTIN 0953904 $1,690.35 01/01/1998 360
600109527 SPOERLE 0954287 $376.77 12 01/01/1998 360
600109529 SKY 0954394 $1,614.28 01/01/1998 360
600109531 KAMAUFF 0954465 $1,129.26 14 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109504 HATZIHRI .00 .00 .00 .000 .250 .300 $183,000.00 N
600109507 SHNAYDER .00 .00 .00 .000 .250 .300 $238,000.00 N
600109510 HOPPING .00 .00 .00 .000 .250 .300 $175,000.00 N
600109511 SMITH .00 .00 .00 .000 .250 .300 $117,500.00 N
600109513 SCHULTE .00 .00 .00 .000 .250 .300 $54,530.00 N
600109514 QUILLING .00 .00 .00 .000 .250 .300 $125,500.00 N
600109515 BRANSON .00 .00 .00 .000 .250 .300 $280,000.00 N
600109516 HAMNER .00 .00 .00 .000 .250 .300 $112,400.00 N
600109521 BLOMBECK .00 .00 .00 .000 .250 .300 $100,000.00 N
600109522 STEWART .00 .00 .00 .000 .250 .300 $205,000.00 N
600109524 MARTIN .00 .00 .00 .000 .250 .300 $300,000.00 N
600109527 SPOERLE .00 .00 .00 .000 .250 .300 $54,500.00 N
600109529 SKY .00 .00 .00 .000 .250 .300 $275,000.00 N
600109531 KAMAUFF .00 .00 .00 .000 .250 .300 $162,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 23
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109532 SCHRODER 17 SOUTH COPPERFIELD DR SAVANNAH GA 31410 $142,602.81
600109533 HARRELL 601 BOARDWALK AVENUE SOUTHLAKE TX 76092 $191,017.46
600109534 DAY 2351 LAKEWOOD DR GUTHRIE OK 73044 $120,722.97
600109535 LATTANZI 2634 TINECHESTER DRIVE KINGWOOD TX 77339 $46,772.37
600109537 TRUDEL 5144 3RD RD LAKE WORTH FL 33467 $133,510.36
600109538 LOWRY 2783 NORTH THOMPSON RD ATLANTA GA 30319 $113,731.06
600109539 HORVATH 4179 WILLIAMS ROAD GROVEPORT OH 43125 $89,681.85
600109540 KORTUM 14097 GREENTREE DRIVE WELLINGTON FL 33414 $115,743.96
600109541 WANG 2725 SHAFTSBURY DRIVE DURHAM NC 27705 $76,416.11
600109542 HARPER 2180 NW 76TH TERRACE MARGATE FL 33063 $113,431.24
600109545 KOZUB 34646 LYNN DR ROMULUS MI 48174 $61,163.87
600109546 JOHNSON 7640 TREMAYNE PLACE MCLEAN VA 22102 $74,448.73
600109547 STEMPFLY 4830 STONY CREEK RD URBANA OH 43078 $125,102.11
600109548 STEIN 7393 AQUA ISLE ALGONAC MI 48001 $124,911.77
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109532 SCHRODER 7.875 .250 7.625 .0500 7.575 11/01/2027
600109533 HARRELL 8.500 .250 8.250 .0500 8.200 11/01/2027
600109534 DAY 8.250 .250 8.000 .0500 7.950 12/01/2027
600109535 LATTANZI 8.625 .250 8.375 .0500 8.325 12/01/2027
600109537 TRUDEL 8.000 .250 7.750 .0500 7.700 12/01/2027
600109538 LOWRY 8.500 .250 8.250 .0500 8.200 12/01/2027
600109539 HORVATH 8.125 .250 7.875 .0500 7.825 11/01/2027
600109540 KORTUM 8.000 .250 7.750 .0500 7.700 11/01/2027
600109541 WANG 9.000 .250 8.750 .0500 8.700 11/01/2027
600109542 HARPER 8.500 .250 8.250 .0500 8.200 12/01/2027
600109545 KOZUB 8.625 .250 8.375 .0500 8.325 12/01/2027
600109546 JOHNSON 7.875 .250 7.625 .0500 7.575 12/01/2027
600109547 STEMPFLY 8.875 .250 8.625 .0500 8.575 11/01/2027
600109548 STEIN 7.750 .250 7.500 .0500 7.450 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>
600109532 SCHRODER 0954483 $1,035.40 01/01/1998 360
600109533 HARRELL 0954701 $1,470.55 01/01/1998 360
600109534 DAY 0954732 $907.53 01/01/1998 360
600109535 LATTANZI 0954754 $364.01 2 01/01/1998 360
600109537 TRUDEL 0955111 $980.31 01/01/1998 360
600109538 LOWRY 0955129 $875.02 01/01/1998 360
600109539 HORVATH 0955147 $668.25 01/01/1998 360
600109540 KORTUM 0955199 $850.43 01/01/1998 360
600109541 WANG 0955309 $615.54 01/01/1998 360
600109542 HARPER 0955430 $872.72 01/01/1998 360
600109545 KOZUB 0955640 $476.01 12 01/01/1998 360
600109546 JOHNSON 0955771 $540.18 01/01/1998 360
600109547 STEMPFLY 0955797 $996.55 01/01/1998 360
600109548 STEIN 0955969 $895.52 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109532 SCHRODER .00 .00 .00 .000 .250 .300 $178,500.00 N
600109533 HARRELL .00 .00 .00 .000 .250 .300 $255,000.00 N
600109534 DAY .00 .00 .00 .000 .250 .300 $151,000.00 N
600109535 LATTANZI .00 .00 .00 .000 .250 .300 $52,000.00 N
600109537 TRUDEL .00 .00 .00 .000 .250 .300 $167,000.00 N
600109538 LOWRY .00 .00 .00 .000 .250 .300 $142,260.00 N
600109539 HORVATH .00 .00 .00 .000 .250 .300 $139,000.00 N
600109540 KORTUM .00 .00 .00 .000 .250 .300 $144,900.00 N
600109541 WANG .00 .00 .00 .000 .250 .300 $102,000.00 N
600109542 HARPER .00 .00 .00 .000 .250 .300 $155,000.00 N
600109545 KOZUB .00 .00 .00 .000 .250 .300 $68,000.00 N
600109546 JOHNSON .00 .00 .00 .000 .250 .300 $100,000.00 N
600109547 STEMPFLY .00 .00 .00 .000 .250 .300 $167,000.00 N
600109548 STEIN .00 .00 .00 .000 .250 .300 $210,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 24
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109549 CLARK 30 WEST BRIARWOOD DRIVE STREAMWOOD IL 60107 $49,972.69
600109550 ROSSMAN 14106 CUTLASS AVENUE CORPUS CHRISTI TX 78418 $105,429.21
600109551 MARTIN 2860 MEDINA HIGHWAY KERRVILLE TX 78028 $50,340.27
600109552 CRISPINO 23 HINCKLEY STREET MYSTIC CT 06355 $102,436.29
600109553 CUSTER 438 E WALNUT ST LANCASTOR OH 43130 $47,973.09
600109554 CHAO 317 CHATELAINE COURT WILLOWBROOK IL 60516 $174,781.68
600109555 CLARKIN 3400 GREENCASTLE ROAD BURTONSVILLE MD 20866 $146,898.83
600109556 NASH 8200 BELL MOUNTAIN DRIVE AUSTIN TX 78730 $179,869.72
600109557 WHITING 220 CENTER LANE TRAVERSE CITY MI 49684 $134,909.42
600109559 VANDERVE 2218 NORTH BLVD HOUSTON TX 77098 $179,879.22
600109560 RUCKER 11007 HOLLY SPRINGS DRIVE HOUSTON TX 77042 $107,186.68
600109562 ROSE 512 PINE STREET ELK RAPIDS MI 49620 $74,949.68
600109563 REINEN 112 LONG LEAF PEACHTREE CITY GA 30269 $71,205.72
600109565 GALLAWAY 17954 OCHOCO LANE SUNRIVER OR 97707 $189,756.85
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109549 CLARK 9.000 .250 8.750 .0500 8.700 12/01/2027
600109550 ROSSMAN 8.000 .250 7.750 .0500 7.700 12/01/2027
600109551 MARTIN 8.625 .250 8.375 .0500 8.325 11/01/2027
600109552 CRISPINO 8.375 .250 8.125 .0500 8.075 12/01/2027
600109553 CUSTER 8.875 .250 8.625 .0500 8.575 12/01/2027
600109554 CHAO 8.375 .250 8.125 .0500 8.075 11/01/2027
600109555 CLARKIN 7.875 .250 7.625 .0500 7.575 12/01/2027
600109556 NASH 7.625 .250 7.375 .0500 7.325 12/01/2027
600109557 WHITING 8.000 .250 7.750 .0500 7.700 12/01/2027
600109559 VANDERVE 8.000 .250 7.750 .0500 7.700 12/01/2027
600109560 RUCKER 8.625 .250 8.375 .0500 8.325 12/01/2027
600109562 ROSE 8.000 .250 7.750 .0500 7.700 12/01/2027
600109563 REINEN 8.375 .250 8.125 .0500 8.075 12/01/2027
600109565 GALLAWAY 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>
600109549 CLARK 0956126 $402.31 01/01/1998 360
600109550 ROSSMAN 0956337 $774.12 01/01/1998 360
600109551 MARTIN 0956373 $392.01 01/01/1998 360
600109552 CRISPINO 0956632 $779.07 01/01/1998 360
600109553 CUSTER 0956642 $381.91 01/01/1998 360
600109554 CHAO 0956954 $1,330.13 01/01/1998 360
600109555 CLARKIN 0956992 $1,065.86 01/01/1998 360
600109556 NASH 0957360 $1,274.03 01/01/1998 360
600109557 WHITING 0957508 $990.58 01/01/1998 360
600109559 VANDERVE 0958064 $1,320.78 01/01/1998 360
600109560 RUCKER 0958379 $834.18 01/01/1998 360
600109562 ROSE 0958871 $550.32 01/01/1998 360
600109563 REINEN 0960075 $541.55 01/01/1998 360
600109565 GALLAWAY 6211938 $1,427.41 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109549 CLARK .00 .00 .00 .000 .250 .300 $135,000.00 N
600109550 ROSSMAN .00 .00 .00 .000 .250 .300 $131,900.00 N
600109551 MARTIN .00 .00 .00 .000 .250 .300 $63,000.00 N
600109552 CRISPINO .00 .00 .00 .000 .250 .300 $152,500.00 N
600109553 CUSTER .00 .00 .00 .000 .250 .300 $70,000.00 N
600109554 CHAO .00 .00 .00 .000 .250 .300 $275,000.00 N
600109555 CLARKIN .00 .00 .00 .000 .250 .300 $210,000.00 N
600109556 NASH .00 .00 .00 .000 .250 .300 $225,000.00 N
600109557 WHITING .00 .00 .00 .000 .250 .300 $180,000.00 N
600109559 VANDERVE .00 .00 .00 .000 .250 .300 $225,000.00 N
600109560 RUCKER .00 .00 .00 .000 .250 .300 $143,000.00 N
600109562 ROSE .00 .00 .00 .000 .250 .300 $117,500.00 N
600109563 REINEN .00 .00 .00 .000 .250 .300 $95,000.00 N
600109565 GALLAWAY .00 .00 .00 .000 .250 .300 $258,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 25
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109566 SEVILLA 2213 E TAYLOR ST PHOENIX AZ 85006 $43,951.74
600109567 KINSEY 6718 N 30TH AVE PHOENIX AZ 85013 $64,912.47
600109568 CAMPBELL 4745 E HOBART STREET MESA AZ 85205 $59,917.13
600109569 GUERRERO 2006 STANFORD ST LAS CRUCES NM 88005 $40,004.92
600109570 DAVIS 3717 WEST CHAMA DRIVE GLENDALE AZ 85310 $81,946.36
600109576 MELENDEZ 1821-1823 EAST 85TH ST LOS ANGELES CA 90001 $114,810.12
600109578 FLORES 145-145A N 18TH STREET MONTEBELLO CA 90640 $112,294.08
600109579 ARABYAN 854 CALLE LA PRIMAVERA GLENDALE CA 91208 $199,194.69
600109580 DHALIWAL 450 SOMERSET CIRCLE CORONA CA 91719 $161,382.40
600109581 NIXON 910 JAVAN WAY SUISUN CITY CA 94585 $82,277.81
600109582 CORPUZ 273 S 15TH STREET SAN JOSE CA 95112 $210,131.52
600109589 MEYERS 3111 SOMBREADO SAN CLEMENTE CA 92673 $212,504.55
600109590 TORRES 410 CAYUGA STREET SALINAS CA 93901 $126,845.58
600109592 CHAVEZ 6054 CARTWRIGHT AVE LOS ANGELES CA 91606 $95,877.14
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109566 SEVILLA 9.000 .250 8.750 .0500 8.700 11/01/2027
600109567 KINSEY 8.000 .250 7.750 .0500 7.700 11/01/2027
600109568 CAMPBELL 7.875 .250 7.625 .0500 7.575 11/01/2027
600109569 GUERRERO 8.875 .250 8.625 .0500 8.575 11/01/2027
600109570 DAVIS 8.125 .250 7.875 .0500 7.825 12/01/2027
600109576 MELENDEZ 9.000 .250 8.750 .0500 8.700 10/01/2027
600109578 FLORES 8.500 .250 8.250 .0500 8.200 10/01/2027
600109579 ARABYAN 8.000 .250 7.750 .0500 7.700 11/01/2027
600109580 DHALIWAL 8.000 .250 7.750 .0500 7.700 11/01/2027
600109581 NIXON 8.500 .250 8.250 .0500 8.200 11/01/2027
600109582 CORPUZ 8.625 .250 8.375 .0500 8.325 10/01/2027
600109589 MEYERS 7.875 .250 7.625 .0500 7.575 11/01/2027
600109590 TORRES 8.500 .250 8.250 .0500 8.200 11/01/2027
600109592 CHAVEZ 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>
600109566 SEVILLA 6212808 $354.04 01/01/1998 360
600109567 KINSEY 6212837 $476.95 01/01/1998 360
600109568 CAMPBELL 6212856 $435.05 01/01/1998 360
600109569 GUERRERO 6212937 $318.66 12 01/01/1998 360
600109570 DAVIS 6212972 $608.85 01/01/1998 360
600109576 MELENDEZ 6215219 $925.32 01/01/1998 360
600109578 FLORES 6215950 $865.03 01/01/1998 360
600109579 ARABYAN 6215984 $1,467.53 01/01/1998 360
600109580 DHALIWAL 6215986 $1,185.77 01/01/1998 360
600109581 NIXON 6216057 $633.59 01/01/1998 360
600109582 CORPUZ 6216071 $1,648.92 01/01/1998 360
600109589 MEYERS 6217227 $1,544.40 01/01/1998 360
600109590 TORRES 6217228 $976.52 01/01/1998 360
600109592 CHAVEZ 6217379 $721.22 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109566 SEVILLA .00 .00 .00 .000 .250 .300 $55,000.00 N
600109567 KINSEY .00 .00 .00 .000 .250 .300 $83,000.00 N
600109568 CAMPBELL .00 .00 .00 .000 .250 .300 $75,000.00 N
600109569 GUERRERO .00 .00 .00 .000 .250 .300 $44,500.00 N
600109570 DAVIS .00 .00 .00 .000 .250 .300 $109,500.00 N
600109576 MELENDEZ .00 .00 .00 .000 .250 .300 $155,000.00 N
600109578 FLORES .00 .00 .00 .000 .250 .300 $150,000.00 N
600109579 ARABYAN .00 .00 .00 .000 .250 .300 $310,000.00 N
600109580 DHALIWAL .00 .00 .00 .000 .250 .300 $202,000.00 N
600109581 NIXON .00 .00 .00 .000 .250 .300 $103,000.00 N
600109582 CORPUZ .00 .00 .00 .000 .250 .300 $310,000.00 N
600109589 MEYERS .00 .00 .00 .000 .250 .300 $275,000.00 N
600109590 TORRES .00 .00 .00 .000 .250 .300 $170,000.00 N
600109592 CHAVEZ .00 .00 .00 .000 .250 .300 $140,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 26
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109593 FOTOOHI 688 NORTH RIMSDALE AVE COVINA CA 91722 $134,518.68
600109599 ALLINGHA 15515 BOCA CHICA DR LA MIRADA CA 90638 $143,810.96
600109603 KIRK 2670 NW 111TH STREET PORTLAND OR 97229 $174,699.75
600109604 RENFRO 1210 VILLAGER CONDOMINIUM SUN VALLEY ID 83353 $97,787.60
600109605 CHILDERS 4113 WOLF BERRY COURT LAKE OSWEGO OR 97035 $219,672.42
600109606 HEDDEN 1409 W CHARLESTON AVE PHOENIX AZ 85027 $62,915.16
600109608 STOEBERL 6811 NORTH 2ND PLACE PHOENIX AZ 85012 $163,395.74
600109609 MURPHY 1466 W 4TH PLACE MESA AZ 85201 $65,620.10
600109610 PONWITH 172 N PINEVIEW DR CHANDLER AZ 85226 $139,001.82
600109612 SUMNER 1188 AUSLAND DRIVE GRANTS PASS OR 97526 $202,078.96
600109615 POOLE 314 NE D STREET GRANTS PASS OR 97526 $48,969.54
600109618 MEAUX 7364 E ED RICE AVE MESA AZ 85208 $101,869.45
600109626 ROXBURGH 274 VIA SAN BLAS SAN LUIS OBISPO CA 93401 $118,344.44
600109634 CASTILLO 253 CONEFLOWER STREET ENCINITAS CA 92024 $100,614.35
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109593 FOTOOHI 8.000 .250 7.750 .0500 7.700 11/01/2027
600109599 ALLINGHA 8.125 .250 7.875 .0500 7.825 11/01/2027
600109603 KIRK 8.000 .250 7.750 .0500 7.700 11/01/2027
600109604 RENFRO 8.250 .250 8.000 .0500 7.950 12/01/2027
600109605 CHILDERS 7.500 .250 7.250 .0500 7.200 11/01/2027
600109606 HEDDEN 8.000 .250 7.750 .0500 7.700 11/01/2027
600109608 STOEBERL 8.250 .250 8.000 .0500 7.950 12/01/2027
600109609 MURPHY 8.500 .250 8.250 .0500 8.200 11/01/2027
600109610 PONWITH 7.750 .250 7.500 .0500 7.450 12/01/2027
600109612 SUMNER 8.750 .250 8.500 .0500 8.450 11/01/2027
600109615 POOLE 8.375 .250 8.125 .0500 8.075 12/01/2027
600109618 MEAUX 8.250 .250 8.000 .0500 7.950 11/01/2027
600109626 ROXBURGH 8.125 .250 7.875 .0500 7.825 11/01/2027
600109634 CASTILLO 8.000 .250 7.750 .0500 7.700 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>
600109593 FOTOOHI 6217381 $990.59 01/01/1998 360
600109599 ALLINGHA 6217927 $1,069.20 01/01/1998 360
600109603 KIRK 6220112 $1,284.09 01/01/1998 360
600109604 RENFRO 6220117 $735.12 01/01/1998 360
600109605 CHILDERS 6220148 $1,538.28 01/01/1998 360
600109606 HEDDEN 6221013 $462.28 01/01/1998 360
600109608 STOEBERL 6221085 $1,228.32 01/01/1998 360
600109609 MURPHY 6221109 $505.18 12 01/01/1998 360
600109610 PONWITH 6221217 $996.53 01/01/1998 360
600109612 SUMNER 6221973 $1,612.74 01/01/1998 360
600109615 POOLE 6225005 $372.44 01/01/1998 360
600109618 MEAUX 6262761 $766.30 01/01/1998 360
600109626 ROXBURGH 6285956 $879.86 01/01/1998 360
600109634 CASTILLO 6310441 $739.27 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109593 FOTOOHI .00 .00 .00 .000 .250 .300 $180,000.00 N
600109599 ALLINGHA .00 .00 .00 .000 .250 .300 $180,000.00 N
600109603 KIRK .00 .00 .00 .000 .250 .300 $270,000.00 N
600109604 RENFRO .00 .00 .00 .000 .250 .300 $130,500.00 N
600109605 CHILDERS .00 .00 .00 .000 .250 .300 $275,000.00 N
600109606 HEDDEN .00 .00 .00 .000 .250 .300 $108,000.00 N
600109608 STOEBERL .00 .00 .00 .000 .250 .300 $218,000.00 N
600109609 MURPHY .00 .00 .00 .000 .250 .300 $73,000.00 N
600109610 PONWITH .00 .00 .00 .000 .250 .300 $173,932.00 N
600109612 SUMNER .00 .00 .00 .000 .250 .300 $675,000.00 N
600109615 POOLE .00 .00 .00 .000 .250 .300 $65,500.00 N
600109618 MEAUX .00 .00 .00 .000 .250 .300 $136,000.00 N
600109626 ROXBURGH .00 .00 .00 .000 .250 .300 $167,500.00 N
600109634 CASTILLO .00 .00 .00 .000 .250 .300 $135,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 27
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109635 GREBBIEN 999 S JOHNSON AVENUE EL CAJON CA 92020 $122,085.39
600109637 BRYANT 477 28TH ST SAN DIEGO CA 92102 $86,145.13
600109639 MENDOZA 118 SOUTH SERRANO AVE LOS ANGELES CA 90004 $187,740.39
600109640 WALKER 1306 N FLOWER STREET SANTA ANA CA 92706 $76,906.37
600109641 JACKSON 6880 CAMINO BERDECIO SAN DIEGO CA 92111 $163,274.22
600109643 HUNTZING 412 N NEVADA ST OCEANSIDE CA 92054 $71,159.00
600109644 OKUNO 23702 E CEDAR POINT COURT RHODODENDRON OR 97049 $159,800.40
600109645 KING 10905 NW 309TH AVE NORTH PLAINS OR 97133 $146,067.55
600109649 BARTLETT 8605 N PORTSMOUTH AVENUE PORTLAND OR 97203 $61,764.58
600109650 MONTY 13425 SW GENESIS LOOP TIGARD OR 97223 $179,686.51
600109653 GALBARSK 4554 E PARADISE VILLAGE P PHOENIX AZ 85032 $41,923.11
600109660 BALDOCK 83 W CALLE DE ARCOS TEMPE AZ 85284 $54,929.61
600109661 LAWLER 6338 W PORT ROYALE LANE GLENDALE AZ 85306 $91,091.91
600109664 DONALDSO 642 E WAKELY COURT MERIDIAN ID 83642 $91,545.92
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109635 GREBBIEN 8.000 .250 7.750 .0500 7.700 11/01/2027
600109637 BRYANT 8.500 .250 8.250 .0500 8.200 11/01/2027
600109639 MENDOZA 7.875 .250 7.625 .0500 7.575 11/01/2027
600109640 WALKER 8.500 .250 8.250 .0500 8.200 11/01/2027
600109641 JACKSON 7.875 .250 7.625 .0500 7.575 11/01/2027
600109643 HUNTZING 8.750 .250 8.500 .0500 8.450 12/01/2027
600109644 OKUNO 8.375 .250 8.125 .0500 8.075 11/01/2027
600109645 KING 8.375 .250 8.125 .0500 8.075 11/01/2027
600109649 BARTLETT 7.875 .250 7.625 .0500 7.575 11/01/2027
600109650 MONTY 7.625 .250 7.375 .0500 7.325 11/01/2027
600109653 GALBARSK 8.500 .250 8.250 .0500 8.200 10/01/2027
600109660 BALDOCK 8.250 .250 8.000 .0500 7.950 11/01/2027
600109661 LAWLER 8.625 .250 8.375 .0500 8.325 11/01/2027
600109664 DONALDSO 8.625 .250 8.375 .0500 8.325 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>
600109635 GREBBIEN 6310542 $897.03 01/01/1998 360
600109637 BRYANT 6310595 $663.19 01/01/1998 360
600109639 MENDOZA 6310696 $1,363.13 01/01/1998 360
600109640 WALKER 6310716 $592.07 01/01/1998 360
600109641 JACKSON 6310739 $1,185.49 01/01/1998 360
600109643 HUNTZING 6310878 $560.53 01/01/1998 360
600109644 OKUNO 6311793 $1,216.12 01/01/1998 360
600109645 KING 6311856 $1,111.61 01/01/1998 360
600109649 BARTLETT 6311984 $448.46 01/01/1998 360
600109650 MONTY 6311994 $1,274.03 01/01/1998 360
600109653 GALBARSK 6312484 $322.95 01/01/1998 360
600109660 BALDOCK 6315146 $413.20 01/01/1998 360
600109661 LAWLER 6321053 $709.35 01/01/1998 360
600109664 DONALDSO 7076340 $712.46 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109635 GREBBIEN .00 .00 .00 .000 .250 .300 $163,000.00 N
600109637 BRYANT .00 .00 .00 .000 .250 .300 $116,000.00 N
600109639 MENDOZA .00 .00 .00 .000 .250 .300 $310,000.00 N
600109640 WALKER .00 .00 .00 .000 .250 .300 $123,000.00 N
600109641 JACKSON .00 .00 .00 .000 .250 .300 $218,000.00 N
600109643 HUNTZING .00 .00 .00 .000 .250 .300 $95,000.00 N
600109644 OKUNO .00 .00 .00 .000 .250 .300 $200,000.00 N
600109645 KING .00 .00 .00 .000 .250 .300 $195,000.00 N
600109649 BARTLETT .00 .00 .00 .000 .250 .300 $82,500.00 N
600109650 MONTY .00 .00 .00 .000 .250 .300 $225,000.00 N
600109653 GALBARSK .00 .00 .00 .000 .250 .300 $72,000.00 N
600109660 BALDOCK .00 .00 .00 .000 .250 .300 $104,500.00 N
600109661 LAWLER .00 .00 .00 .000 .250 .300 $114,000.00 N
600109664 DONALDSO .00 .00 .00 .000 .250 .300 $114,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 28
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600109665 DILLON 821 AUGUSTA DRIVE NAMPA ID 83636 $117,063.39
600109667 HAYNIE 451 CAMINO SAN CLEMENTE SAN CLEMENTE CA 92672 $119,756.82
600109670 HEIDEL 1739 EAST SKYVIEW DRIVE SANDY UT 84092 $116,446.94
600109671 NELSON 1115 EAST CANYON CREEK DR BOUNTIFUL UT 84010 $216,675.61
600109672 POWELL 1010 SOUTH MCCLELLAND SALT LAKE CITY UT 84105 $62,955.54
600109673 GELDMACH 1428 WEST 1650 NORTH LAYTON UT 84041 $157,308.49
600109674 CLUFF 1427 NORTH WILLOW VALLEY CENTERVILLE UT 84014 $128,635.18
600109675 BIESINGE 9355 S OQUIRRH MEADOWS DR WEST JORDAN UT 84088 $119,834.30
600109680 O'KELLY 517 W WINESAP CIRCLE SOUT MOAB UT 84532 $144,699.90
600109683 JACKSON 1490 ELM CIRCLE PROVO UT 84604 $99,839.69
600109688 HOFFMAN 636 EAST 1700 SOUTH BOUNTIFUL UT 84010 $122,233.31
600109690 BENZER 1094 WARM CANYON WAY LAS VEGAS NV 89123 $47,943.12
600116193 GARCIA, JOSE 51 A, B & C HIG CALEXICO CA 92231 $135,592.74
600116194 THOMPSON, WILLIAM 9 RHYGATE COURT DURHAM NC 27713 $153,611.02
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600109665 DILLON 8.500 .250 8.250 .0500 8.200 11/01/2027
600109667 HAYNIE 8.000 .250 7.750 .0500 7.700 10/01/2027
600109670 HEIDEL 8.125 .250 7.875 .0500 7.825 11/01/2027
600109671 NELSON 8.000 .250 7.750 .0500 7.700 11/01/2027
600109672 POWELL 7.750 .250 7.500 .0500 7.450 12/01/2027
600109673 GELDMACH 8.500 .250 8.250 .0500 8.200 11/01/2027
600109674 CLUFF 8.250 .250 8.000 .0500 7.950 11/01/2027
600109675 BIESINGE 7.875 .250 7.625 .0500 7.575 11/01/2027
600109680 O'KELLY 7.875 .250 7.625 .0500 7.575 11/01/2027
600109683 JACKSON 8.500 .250 8.250 .0500 8.200 11/01/2027
600109688 HOFFMAN 8.000 .250 7.750 .0500 7.700 11/01/2027
600109690 BENZER 8.625 .250 8.375 .0500 8.325 11/01/2027
600116193 GARCIA, JOSE 8.625 .250 8.375 .0500 8.325 08/01/2027
600116194 THOMPSON, WILLIAM 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>
600109665 DILLON 7083140 $903.47 01/01/1998 360
600109667 HAYNIE 7137788 $880.52 01/01/1998 360
600109670 HEIDEL 7154588 $865.75 01/01/1998 360
600109671 NELSON 7154788 $1,592.27 01/01/1998 360
600109672 POWELL 7162488 $451.34 12 01/01/1998 360
600109673 GELDMACH 7164788 $1,211.04 01/01/1998 360
600109674 CLUFF 7165388 $967.63 01/01/1998 360
600109675 BIESINGE 7165588 $870.08 01/01/1998 360
600109680 O'KELLY 7295224 $1,050.63 01/01/1998 360
600109683 JACKSON 7336918 $768.91 01/01/1998 360
600109688 HOFFMAN 7393113 $898.13 01/01/1998 360
600109690 BENZER 7480220 $373.34 01/01/1998 360
600116193 GARCIA, JOSE 1082692 $1,057.79 01/01/1998 360
600116194 THOMPSON, WILLIAM 1191527 $1,169.75 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600109665 DILLON .00 .00 .00 .000 .250 .300 $217,500.00 N
600109667 HAYNIE .00 .00 .00 .000 .250 .300 $160,000.00 N
600109670 HEIDEL .00 .00 .00 .000 .250 .300 $155,000.00 N
600109671 NELSON .00 .00 .00 .000 .250 .300 $315,000.00 N
600109672 POWELL .00 .00 .00 .000 .250 .300 $70,000.00 N
600109673 GELDMACH .00 .00 .00 .000 .250 .300 $225,000.00 N
600109674 CLUFF .00 .00 .00 .000 .250 .300 $161,000.00 N
600109675 BIESINGE .00 .00 .00 .000 .250 .300 $160,000.00 N
600109680 O'KELLY .00 .00 .00 .000 .250 .300 $181,211.00 N
600109683 JACKSON .00 .00 .00 .000 .250 .300 $138,000.00 N
600109688 HOFFMAN .00 .00 .00 .000 .250 .300 $153,000.00 N
600109690 BENZER .00 .00 .00 .000 .250 .300 $125,000.00 N
600116193 GARCIA, JOSE $170,000.00 N
600116194 THOMPSON, WILLIAM $193,465.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 29
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116195 RETTINGER, LINDA 1937 WEST VOLTA PHOENIX AZ 85029 $68,845.41
600116196 RIFKIN, JACK 3933 BENTL CULVER CITY CA 90232 $122,143.49
600116197 HAYES, MAUREEN 29 ELLENITA DRI HILTON HEAD ISL SC 29926 $99,865.37
600116198 EDWARDS JR, WILLIAM 9303 PRAIRIE OA DALLAS TX 75217 $40,452.01
600116199 EDWARDS JR, WILLIAM 232 N NACHITA D DALLAS TX 75217 $40,452.01
600116200 EDWARDS JR, WILLIAM 9233 PRAIRIE OA DALLAS TX 75217 $40,452.01
600116201 EDWARDS JR, WILLIAM 9327 PRAIRIE OA DALLAS TX 75217 $40,452.01
600116202 EDWARDS JR, WILLIAM 9315 PRAIRIE OA DALLAS TX 75217 $40,452.01
600116203 EDWARDS JR, WILLIAM 9339 PRAIRIE OA DALLAS TX 75217 $40,452.01
600116204 EDWARDS JR, W. 242 BUTTERCUP L DALLAS TX 75217 $40,452.01
600116205 EDWARDS JR, WILLIAM 9309 PRAIRIE OA DALLAS TX 75217 $40,452.01
600116206 EDWARDS JR, WILLIAM 226 PRAIRIE GRO DALLAS TX 75217 $40,452.01
600116207 EDWARDS JR, WILLIAM 221 PRAIRIE GRO DALLAS TX 75217 $40,452.01
600116208 EDWARDS JR, WILLIAM 238 PRAIRIE GRO DALLAS TX 75217 $40,452.01
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116195 RETTINGER, LINDA 7.500 .250 7.250 .0500 7.200 10/01/2027
600116196 RIFKIN, JACK 8.250 .250 8.000 .0500 7.950 11/01/2027
600116197 HAYES, MAUREEN 8.000 .250 7.750 .0500 7.700 11/01/2027
600116198 EDWARDS JR, WILLIAM 8.625 .250 8.375 .0500 8.325 11/01/2027
600116199 EDWARDS JR, WILLIAM 8.625 .250 8.375 .0500 8.325 11/01/2027
600116200 EDWARDS JR, WILLIAM 8.625 .250 8.375 .0500 8.325 11/01/2027
600116201 EDWARDS JR, WILLIAM 8.625 .250 8.375 .0500 8.325 11/01/2027
600116202 EDWARDS JR, WILLIAM 8.625 .250 8.375 .0500 8.325 11/01/2027
600116203 EDWARDS JR, WILLIAM 8.625 .250 8.375 .0500 8.325 11/01/2027
600116204 EDWARDS JR, W. 8.625 .250 8.375 .0500 8.325 11/01/2027
600116205 EDWARDS JR, WILLIAM 8.625 .250 8.375 .0500 8.325 11/01/2027
600116206 EDWARDS JR, WILLIAM 8.625 .250 8.375 .0500 8.325 11/01/2027
600116207 EDWARDS JR, WILLIAM 8.625 .250 8.375 .0500 8.325 11/01/2027
600116208 EDWARDS JR, WILLIAM 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>
600116195 RETTINGER, LINDA 1236322 $482.46 01/01/1998 360
600116196 RIFKIN, JACK 1062702 $918.80 01/01/1998 360
600116197 HAYES, MAUREEN 1182617 $733.76 01/01/1998 360
600116198 EDWARDS JR, WILLIAM 1197540 $315.00 01/01/1998 360
600116199 EDWARDS JR, WILLIAM 1197607 $315.00 01/01/1998 360
600116200 EDWARDS JR, WILLIAM 1197615 $315.00 01/01/1998 360
600116201 EDWARDS JR, WILLIAM 1197821 $315.00 01/01/1998 360
600116202 EDWARDS JR, WILLIAM 1198654 $315.00 01/01/1998 360
600116203 EDWARDS JR, WILLIAM 1198746 $315.00 01/01/1998 360
600116204 EDWARDS JR, W. 1199249 $315.00 01/01/1998 360
600116205 EDWARDS JR, WILLIAM 1199256 $315.00 01/01/1998 360
600116206 EDWARDS JR, WILLIAM 1199272 $315.00 01/01/1998 360
600116207 EDWARDS JR, WILLIAM 1199298 $315.00 01/01/1998 360
600116208 EDWARDS JR, WILLIAM 1199314 $315.00 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600116195 RETTINGER, LINDA $95,000.00 N
600116196 RIFKIN, JACK $153,000.00 N
600116197 HAYES, MAUREEN $185,000.00 N
600116198 EDWARDS JR, WILLIAM $54,000.00 N
600116199 EDWARDS JR, WILLIAM $54,000.00 N
600116200 EDWARDS JR, WILLIAM $54,000.00 N
600116201 EDWARDS JR, WILLIAM $54,000.00 N
600116202 EDWARDS JR, WILLIAM $54,000.00 N
600116203 EDWARDS JR, WILLIAM $54,000.00 N
600116204 EDWARDS JR, W. $54,000.00 N
600116205 EDWARDS JR, WILLIAM $54,000.00 N
600116206 EDWARDS JR, WILLIAM $54,000.00 N
600116207 EDWARDS JR, WILLIAM $54,000.00 N
600116208 EDWARDS JR, WILLIAM $54,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 30
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116209 EDWARDS JR, WILLIAM 244 PRAIRIE GRO DALLAS TX 75217 $40,452.01
600116210 EDWARDS JR, WILLIAM 232 PRAIRIE GRO DALLAS TX 75217 $40,452.01
600116211 PETTY, ALONZO 1601 JUDY LYNN SPICEWOOD TX 78669 $109,473.44
600116212 JEFFERSON, MARY 3200 VINE STREE DENVER CO 80205 $148,504.80
600116213 DELFOSSE, JOHN 3924 NORTH PITT CHICAGO IL 60634 $129,360.36
600116214 DACOSTA, CARROLL 180 NINA OLDSMAR FL 34677 $54,925.95
600116215 BLADE, GREGG 1992 BRIDLE PAT DUNWOODY GA 30338 $132,012.78
600116216 HERMAN, JENNIFER 1133 BISMARK LA ALAMEDA CA 94502 $159,800.40
600116217 GUETTICH, BRUCE 40490 ANCHOR WA STEAMBOAT SPRIN CO 80487 $143,057.12
600116218 HUFF, JOHN 385 SPYGLASS BL ALPHARETTA GA 30202 $149,812.88
600116219 GRAEF, RITA 12330 NORTH 57T GLENDALE AZ 85304 $185,536.89
600116220 PROCTOR, DENVER 2727 TENNYSON S DENVER CO 80212 $119,821.32
600116221 CARLSON, HAROLD 3459 TANBARK CO ATLANTA GA 30319 $194,163.63
600116222 MAY, JO 6923 TODD LANE SASHE TX 75048 $79,043.44
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116209 EDWARDS JR, WILLIAM 8.625 .250 8.375 .0500 8.325 11/01/2027
600116210 EDWARDS JR, WILLIAM 8.625 .250 8.375 .0500 8.325 11/01/2027
600116211 PETTY, ALONZO 8.750 .250 8.500 .0500 8.450 11/01/2027
600116212 JEFFERSON, MARY 8.125 .250 7.875 .0500 7.825 11/01/2027
600116213 DELFOSSE, JOHN 7.875 .250 7.625 .0500 7.575 11/01/2027
600116214 DACOSTA, CARROLL 8.000 .250 7.750 .0500 7.700 11/01/2027
600116215 BLADE, GREGG 7.750 .250 7.500 .0500 7.450 11/01/2027
600116216 HERMAN, JENNIFER 8.375 .250 8.125 .0500 8.075 11/01/2027
600116217 GUETTICH, BRUCE 8.000 .250 7.750 .0500 7.700 11/01/2027
600116218 HUFF, JOHN 8.375 .250 8.125 .0500 8.075 11/01/2027
600116219 GRAEF, RITA 7.750 .250 7.500 .0500 7.450 11/01/2027
600116220 PROCTOR, DENVER 7.500 .250 7.250 .0500 7.200 11/01/2027
600116221 CARLSON, HAROLD 8.500 .250 8.250 .0500 8.200 11/01/2027
600116222 MAY, JO 8.000 .250 7.750 .0500 7.700 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>
600116209 EDWARDS JR, WILLIAM 1199363 $315.00 01/01/1998 360
600116210 EDWARDS JR, WILLIAM 1199421 $315.00 01/01/1998 360
600116211 PETTY, ALONZO 1234095 $862.22 01/01/1998 360
600116212 JEFFERSON, MARY 1250158 $1,104.09 01/01/1998 360
600116213 DELFOSSE, JOHN 1250794 $939.33 01/01/1998 360
600116214 DACOSTA, CARROLL 1254952 $403.57 01/01/1998 360
600116215 BLADE, GREGG 1256577 $947.10 01/01/1998 360
600116216 HERMAN, JENNIFER 1258094 $1,216.12 01/01/1998 360
600116217 GUETTICH, BRUCE 1258821 $1,051.12 01/01/1998 360
600116218 HUFF, JOHN 1262450 $1,140.11 01/01/1998 360
600116219 GRAEF, RITA 1263672 $1,331.09 01/01/1998 360
600116220 PROCTOR, DENVER 1264928 $839.06 01/01/1998 360
600116221 CARLSON, HAROLD 1266089 $1,494.77 2 01/01/1998 360
600116222 MAY, JO 1269463 $580.77 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600116209 EDWARDS JR, WILLIAM $54,000.00 N
600116210 EDWARDS JR, WILLIAM $54,000.00 N
600116211 PETTY, ALONZO $137,000.00 N
600116212 JEFFERSON, MARY $232,300.00 N
600116213 DELFOSSE, JOHN $163,000.00 N
600116214 DACOSTA, CARROLL $84,000.00 N
600116215 BLADE, GREGG $223,300.00 N
600116216 HERMAN, JENNIFER $200,000.00 N
600116217 GUETTICH, BRUCE $191,000.00 N
600116218 HUFF, JOHN $230,000.00 N
600116219 GRAEF, RITA $232,300.00 N
600116220 PROCTOR, DENVER $160,000.00 N
600116221 CARLSON, HAROLD $216,000.00 N
600116222 MAY, JO $98,950.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 31
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116223 REED, EDWARD 2450 SAND WEDGE RENO NV 89523 $214,440.74
600116224 O'BRIEN, THOMAS 1762 NINTH STRE LOS OSOS CA 93402 $94,934.62
600116225 JACKSON, JILL 3001 SUNRISE DR ROWLETT TX 75088 $198,669.96
600116226 MOURADIAN, SAM 15 WASHING IRVINE CA 92606 $164,783.62
600116227 MATTERO SR, THOMAS 8975 LAWRENCE W ESCONDIDO CA 92026 $146,901.37
600116228 KLEIN, JACK 10633 CLEAR MEA LAS VEGAS NV 89134 $93,737.06
600116229 ROPARS, DENNIS 1191 EAST GARTN NAPERVILLE IL 60540 $167,895.58
600116230 COOPER, ROSEMARY 15238 SOUTH 19T PHOENIX AZ 85048 $223,753.54
600116231 TERRY, BRUCE 2554 CANET ROAD SAN LUIS OBISPO CA 93405 $205,861.77
600116232 HEITMAN, RUTH 1115 EMERY STRE LONGMONT CO 80501 $178,697.13
600116233 FORTE, CRAIG 3340 NORTH CAMI TUCSON AZ 85750 $150,693.57
600116234 TERRILL, GEORGE 3116 VAN BUREN COSTA MESA CA 92626 $191,871.17
600116235 TERRILL, GEORGE 1143 CHARLESTON COSTA MESA CA 92626 $191,871.17
600116236 BELL, MARY 1840 TICE CREEK WALNUT CREEK CA 94595 $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>
600116223 REED, EDWARD 7.500 .250 7.250 .0500 7.200 12/01/2027
600116224 O'BRIEN, THOMAS 7.875 .250 7.625 .0500 7.575 12/01/2027
600116225 JACKSON, JILL 8.125 .250 7.875 .0500 7.825 12/01/2027
600116226 MOURADIAN, SAM 7.750 .250 7.500 .0500 7.450 12/01/2027
600116227 MATTERO SR, THOMAS 8.000 .250 7.750 .0500 7.700 12/01/2027
600116228 KLEIN, JACK 8.000 .250 7.750 .0500 7.700 12/01/2027
600116229 ROPARS, DENNIS 8.375 .250 8.125 .0500 8.075 12/01/2027
600116230 COOPER, ROSEMARY 8.125 .250 7.875 .0500 7.825 12/01/2027
600116231 TERRY, BRUCE 8.000 .250 7.750 .0500 7.700 12/01/2027
600116232 HEITMAN, RUTH 8.750 .250 8.500 .0500 8.450 12/01/2027
600116233 FORTE, CRAIG 7.750 .250 7.500 .0500 7.450 12/01/2027
600116234 TERRILL, GEORGE 8.000 .250 7.750 .0500 7.700 12/01/2027
600116235 TERRILL, GEORGE 8.000 .250 7.750 .0500 7.700 12/01/2027
600116236 BELL, MARY 8.125 .250 7.875 .0500 7.825 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>
600116223 REED, EDWARD 1051747 $1,500.51 01/01/1998 360
600116224 O'BRIEN, THOMAS 1063031 $688.82 01/01/1998 360
600116225 JACKSON, JILL 1083948 $1,476.08 01/01/1998 360
600116226 MOURADIAN, SAM 1135466 $1,181.36 01/01/1998 360
600116227 MATTERO SR, THOMAS 1185545 $1,078.63 01/01/1998 360
600116228 KLEIN, JACK 1234111 $688.27 01/01/1998 360
600116229 ROPARS, DENNIS 1237635 $1,276.92 01/01/1998 360
600116230 COOPER, ROSEMARY 1245877 $1,662.45 01/01/1998 360
600116231 TERRY, BRUCE 1246719 $1,511.56 01/01/1998 360
600116232 HEITMAN, RUTH 1247584 $1,406.62 01/01/1998 360
600116233 FORTE, CRAIG 1250182 $1,080.35 01/01/1998 360
600116234 TERRILL, GEORGE 1251206 $1,408.83 01/01/1998 360
600116235 TERRILL, GEORGE 1251214 $1,408.83 01/01/1998 360
600116236 BELL, MARY 1257377 $816.75 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600116223 REED, EDWARD $292,311.00 N
600116224 O'BRIEN, THOMAS $139,000.00 N
600116225 JACKSON, JILL $248,500.00 N
600116226 MOURADIAN, SAM $274,900.00 N
600116227 MATTERO SR, THOMAS $196,000.00 N
600116228 KLEIN, JACK $134,000.00 N
600116229 ROPARS, DENNIS $240,000.00 N
600116230 COOPER, ROSEMARY $279,900.00 N
600116231 TERRY, BRUCE $315,000.00 N
600116232 HEITMAN, RUTH $223,500.00 N
600116233 FORTE, CRAIG $188,500.00 N
600116234 TERRILL, GEORGE $240,000.00 N
600116235 TERRILL, GEORGE $240,000.00 N
600116236 BELL, MARY $170,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 32
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116237 SCLAFANI, NICK 2001 WESTERN AV MC HENRY IL 60050 $94,239.87
600116238 MATTINGLY, DIANA 8093 SUN COUNTR ELIZABETH CO 80107 $133,907.79
600116239 BRUTCHIN JR, BILLY 2053 CHINO STRE SANTA BARBARA CA 93101 $191,124.89
600116240 MAXWELL, F E 2473 GLENDALE D ABILENE TX 79603 $28,782.55
600116241 PELLMAN, BRADLEY 8870 TAHOE COUR BOULDER CO 80301 $204,655.46
600116242 BAKER, JOHN 195 WATERMAN ST MARIETTA GA 30060 $51,218.95
600116243 TOEDTE, LYNN 7309 WEST HAMPD LAKEWOOD CO 80227 $50,969.10
600116244 JUN, MYUNG 8141 NORTH MERR NILES IL 60714 $174,879.57
600116245 MUIRHEAD, GREGORY 158 SPANISH TRA MABANK TX 75147 $148,202.99
600116246 WINNER, RICK 171 HUSKINS RD. CANTON GA 30115 $52,964.43
600116247 CALDWELL, SHIRLEY 1494 EAST CHARO ORO VALLEY AZ 85737 $114,676.83
600116248 HATTIG, BRADFORD 1808 TYLER AVEN LONGMONT CO 80501 $99,536.49
600116249 BATSON, JOHN 324 SUSQUEHANNA PLACENTIA CA 92870 $187,867.31
600116250 DOUGHERTY JR, EDWARD 285 NORTH KELLO SANTA BARBARA CA 93111 $178,885.86
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116237 SCLAFANI, NICK 8.250 .250 8.000 .0500 7.950 12/01/2027
600116238 MATTINGLY, DIANA 7.875 .250 7.625 .0500 7.575 12/01/2027
600116239 BRUTCHIN JR, BILLY 8.125 .250 7.875 .0500 7.825 12/01/2027
600116240 MAXWELL, F E 8.500 .250 8.250 .0500 8.200 12/01/2027
600116241 PELLMAN, BRADLEY 7.750 .250 7.500 .0500 7.450 12/01/2027
600116242 BAKER, JOHN 8.500 .250 8.250 .0500 8.200 12/01/2027
600116243 TOEDTE, LYNN 8.500 .250 8.250 .0500 8.200 12/01/2027
600116244 JUN, MYUNG 7.875 .250 7.625 .0500 7.575 12/01/2027
600116245 MUIRHEAD, GREGORY 8.125 .250 7.875 .0500 7.825 12/01/2027
600116246 WINNER, RICK 8.000 .250 7.750 .0500 7.700 12/01/2027
600116247 CALDWELL, SHIRLEY 8.250 .250 8.000 .0500 7.950 12/01/2027
600116248 HATTIG, BRADFORD 8.250 .250 8.000 .0500 7.950 12/01/2027
600116249 BATSON, JOHN 7.750 .250 7.500 .0500 7.450 12/01/2027
600116250 DOUGHERTY JR, EDWARD 8.250 .250 8.000 .0500 7.950 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>
600116237 SCLAFANI, NICK 1258185 $708.44 01/01/1998 360
600116238 MATTINGLY, DIANA 1258789 $971.59 01/01/1998 360
600116239 BRUTCHIN JR, BILLY 1259142 $1,420.03 01/01/1998 360
600116240 MAXWELL, F E 1260272 $221.45 2 01/01/1998 360
600116241 PELLMAN, BRADLEY 1260512 $1,467.21 01/01/1998 360
600116242 BAKER, JOHN 1260603 $394.07 01/01/1998 360
600116243 TOEDTE, LYNN 1262146 $392.15 01/01/1998 360
600116244 JUN, MYUNG 1262161 $1,268.87 01/01/1998 360
600116245 MUIRHEAD, GREGORY 1262658 $1,101.12 01/01/1998 360
600116246 WINNER, RICK 1262948 $388.90 7 01/01/1998 360
600116247 CALDWELL, SHIRLEY 1263755 $862.08 01/01/1998 360
600116248 HATTIG, BRADFORD 1263896 $748.26 01/01/1998 360
600116249 BATSON, JOHN 1265198 $1,346.86 01/01/1998 360
600116250 DOUGHERTY JR, EDWARD 1265859 $1,344.77 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600116237 SCLAFANI, NICK $117,900.00 N
600116238 MATTINGLY, DIANA $167,750.00 N
600116239 BRUTCHIN JR, BILLY $255,000.00 N
600116240 MAXWELL, F E $32,000.00 N
600116241 PELLMAN, BRADLEY $256,000.00 N
600116242 BAKER, JOHN $64,120.00 N
600116243 TOEDTE, LYNN $68,000.00 N
600116244 JUN, MYUNG $235,000.00 N
600116245 MUIRHEAD, GREGORY $260,000.00 N
600116246 WINNER, RICK $59,900.00 N
600116247 CALDWELL, SHIRLEY $153,000.00 N
600116248 HATTIG, BRADFORD $124,500.00 N
600116249 BATSON, JOHN $235,000.00 N
600116250 DOUGHERTY JR, EDWARD $330,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 33
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116251 TERRILL, GEORGE 3132 BOSTON WAY COSTA MESA CA 92626 $167,137.78
600116252 NORDQUIST, EILEEN 1525 KETTNER BO SAN DIEGO CA 92101 $149,904.35
600116253 LUPO, PAUL 1716 HERMOSA AV HERMOSA BEACH CA 90254 $204,869.28
600116254 DELGADO, GARY 2821 25TH AVENU OAKLAND CA 94602 $111,924.85
600116255 CARDENAS, PAULINE 409 CAMPBELL ST JOLIET IL 60435 $45,570.17
600116256 METTER, CODY 43422 JENNIFER LANCASTER CA 93535 $63,954.83
600116257 DO, TAN 2215 RHETT COUR LAWRENCEVILLE GA 30044 $77,196.83
600116258 KONG, RAYMOND 1232 WHEAT FIEL MESQUITE TX 75149 $52,368.26
600116259 NELSON, DAVID 1810 MONTEAGLE COLORADO SPRING CO 80909 $146,906.27
600116260 COSTA, EDUARDO 1907 TAVERN ROA ALPINE CA 91901 $123,918.88
600116261 MILLER, JOHN 704 SOUTH OAKLE CHICAGO IL 60612 $163,905.64
600116262 YOUNG, GREGORY 4850 QUALLA DRI BOULDER CO 80303 $133,914.55
600116263 YOAS, HOWARD 5302 INDIO CIRC AUSTIN TX 78745 $70,357.35
600116264 RUGATO, MICHAEL 3080 WARD DRIVE WINSTON GA 30187 $92,937.60
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116251 TERRILL, GEORGE 8.000 .250 7.750 .0500 7.700 12/01/2027
600116252 NORDQUIST, EILEEN 8.250 .250 8.000 .0500 7.950 12/01/2027
600116253 LUPO, PAUL 8.250 .250 8.000 .0500 7.950 12/01/2027
600116254 DELGADO, GARY 8.000 .250 7.750 .0500 7.700 12/01/2027
600116255 CARDENAS, PAULINE 8.125 .250 7.875 .0500 7.825 12/01/2027
600116256 METTER, CODY 7.750 .250 7.500 .0500 7.450 12/01/2027
600116257 DO, TAN 7.875 .250 7.625 .0500 7.575 12/01/2027
600116258 KONG, RAYMOND 8.500 .250 8.250 .0500 8.200 12/01/2027
600116259 NELSON, DAVID 8.250 .250 8.000 .0500 7.950 12/01/2027
600116260 COSTA, EDUARDO 8.125 .250 7.875 .0500 7.825 12/01/2027
600116261 MILLER, JOHN 8.750 .250 8.500 .0500 8.450 12/01/2027
600116262 YOUNG, GREGORY 8.250 .250 8.000 .0500 7.950 12/01/2027
600116263 YOAS, HOWARD 8.500 .250 8.250 .0500 8.200 12/01/2027
600116264 RUGATO, MICHAEL 8.000 .250 7.750 .0500 7.700 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>
600116251 TERRILL, GEORGE 1265966 $1,227.22 01/01/1998 360
600116252 NORDQUIST, EILEEN 1266279 $1,126.90 01/01/1998 360
600116253 LUPO, PAUL 1266691 $1,540.10 01/01/1998 360
600116254 DELGADO, GARY 1267111 $821.82 01/01/1998 360
600116255 CARDENAS, PAULINE 1267228 $338.58 01/01/1998 360
600116256 METTER, CODY 1267665 $458.50 01/01/1998 360
600116257 DO, TAN 1268259 $560.12 01/01/1998 360
600116258 KONG, RAYMOND 1268663 $402.91 01/01/1998 360
600116259 NELSON, DAVID 1268689 $1,104.36 01/01/1998 360
600116260 COSTA, EDUARDO 1269133 $920.70 01/01/1998 360
600116261 MILLER, JOHN 1269422 $1,290.19 01/01/1998 360
600116262 YOUNG, GREGORY 1269489 $1,006.70 01/01/1998 360
600116263 YOAS, HOWARD 1269612 $541.32 01/01/1998 360
600116264 RUGATO, MICHAEL 1269620 $682.40 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600116251 TERRILL, GEORGE $250,000.00 N
600116252 NORDQUIST, EILEEN $203,950.00 N
600116253 LUPO, PAUL $500,000.00 N
600116254 DELGADO, GARY $140,000.00 N
600116255 CARDENAS, PAULINE $59,000.00 N
600116256 METTER, CODY $80,000.00 N
600116257 DO, TAN $103,000.00 N
600116258 KONG, RAYMOND $65,500.00 N
600116259 NELSON, DAVID $210,000.00 N
600116260 COSTA, EDUARDO $155,000.00 N
600116261 MILLER, JOHN $205,000.00 N
600116262 YOUNG, GREGORY $207,500.00 N
600116263 YOAS, HOWARD $88,000.00 N
600116264 RUGATO, MICHAEL $133,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 34
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116265 BERRY, RICHARD 467 CLUB HOUSE TW CA 92391 $54,362.56
600116266 KINNARD, KENNETH 9658 TELLER COU WESTMINSTER CO 80021 $143,890.43
600116267 ALICH, SHEILA 18292 ROAD G CORTEZ CO 81321 $102,231.36
600116268 WINDBIGLER, SHARON 1607 JAMES DRIV LOVELAND CO 80538 $83,448.04
600116269 BOGUS, MICHAEL 135 WEST 32ND S DURANGO CO 81301 $101,188.67
600116270 SMITH, MELVIN 3 JESSE JAMES D BELTON TX 76513 $63,955.96
600116271 ROCHIN, MARK 153 SOUTH LAURE VENTURA CA 93001 $109,920.39
600116272 GRCIC, DRAGUTIN 1759 WEST SUPER CHICAGO IL 60622 $120,924.79
600116273 SCHUBERT, WILLIAM 127 SOUTH SHORE ISLAND LAKE IL 60042 $192,970.43
600116274 LORENCE, KENNETH 325 FARMHILL CO ALGONQUIN IL 60102 $164,164.05
600116275 GARDNER, JAMES 4471 RIDGEVILLE LAS VEGAS NV 89102 $87,695.46
600116276 FORGASON, JUDY 5511 SHOALWOOD AUSTIN TX 78756 $87,698.19
600116277 STOCKING JR, EUGENE 812 NORTHSTAR L NEW BRAUNFELS TX 78130 $84,942.97
600116278 SHOEMAKER, JAMES 7337 HIDDEN OAK NORTH RICHLAND TX 76180 $125,923.67
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116265 BERRY, RICHARD 7.875 .250 7.625 .0500 7.575 12/01/2027
600116266 KINNARD, KENNETH 7.375 .250 7.125 .0500 7.075 12/01/2027
600116267 ALICH, SHEILA 8.000 .250 7.750 .0500 7.700 12/01/2027
600116268 WINDBIGLER, SHARON 8.375 .250 8.125 .0500 8.075 12/01/2027
600116269 BOGUS, MICHAEL 8.500 .250 8.250 .0500 8.200 12/01/2027
600116270 SMITH, MELVIN 7.875 .250 7.625 .0500 7.575 12/01/2027
600116271 ROCHIN, MARK 7.625 .250 7.375 .0500 7.325 12/01/2027
600116272 GRCIC, DRAGUTIN 8.375 .250 8.125 .0500 8.075 12/01/2027
600116273 SCHUBERT, WILLIAM 8.000 .250 7.750 .0500 7.700 12/01/2027
600116274 LORENCE, KENNETH 7.750 .250 7.500 .0500 7.450 12/01/2027
600116275 GARDNER, JAMES 8.375 .250 8.125 .0500 8.075 12/01/2027
600116276 FORGASON, JUDY 8.625 .250 8.375 .0500 8.325 12/01/2027
600116277 STOCKING JR, EUGENE 8.000 .250 7.750 .0500 7.700 12/01/2027
600116278 SHOEMAKER, JAMES 8.500 .250 8.250 .0500 8.200 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>
600116265 BERRY, RICHARD 1269760 $394.44 01/01/1998 360
600116266 KINNARD, KENNETH 1269828 $994.57 01/01/1998 360
600116267 ALICH, SHEILA 1270057 $750.64 01/01/1998 360
600116268 WINDBIGLER, SHARON 1270511 $635.42 01/01/1998 360
600116269 BOGUS, MICHAEL 1270818 $778.52 01/01/1998 360
600116270 SMITH, MELVIN 1271170 $464.04 01/01/1998 360
600116271 ROCHIN, MARK 1271279 $778.57 01/01/1998 360
600116272 GRCIC, DRAGUTIN 1271337 $919.69 01/01/1998 360
600116273 SCHUBERT, WILLIAM 1271519 $1,416.90 01/01/1998 360
600116274 LORENCE, KENNETH 1271733 $1,176.92 01/01/1998 360
600116275 GARDNER, JAMES 1271808 $666.96 01/01/1998 360
600116276 FORGASON, JUDY 1271923 $682.51 2 01/01/1998 360
600116277 STOCKING JR, EUGENE 1272137 $623.70 01/01/1998 360
600116278 SHOEMAKER, JAMES 1272855 $968.83 2 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600116265 BERRY, RICHARD $68,000.00 N
600116266 KINNARD, KENNETH $187,000.00 N
600116267 ALICH, SHEILA $128,000.00 N
600116268 WINDBIGLER, SHARON $111,500.00 N
600116269 BOGUS, MICHAEL $135,000.00 N
600116270 SMITH, MELVIN $80,000.00 N
600116271 ROCHIN, MARK $150,000.00 N
600116272 GRCIC, DRAGUTIN $385,000.00 N
600116273 SCHUBERT, WILLIAM $243,000.00 N
600116274 LORENCE, KENNETH $222,000.00 N
600116275 GARDNER, JAMES $117,000.00 N
600116276 FORGASON, JUDY $97,500.00 N
600116277 STOCKING JR, EUGENE $125,000.00 N
600116278 SHOEMAKER, JAMES $140,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 35
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116279 SANSTRA, BOYD 7139 SOUTH CLAY LITTLETON CO 80120 $118,918.11
600116280 CAVALERO, HORACE 439 BAY MEADOWS SOLANA BEACH CA 92075 $133,508.06
600116281 BUEHLMAN, DIVINA 31701 PANORAMA (RUNNING SPRING CA 92382 $71,151.00
600116282 BEACHAM, TIMOTHY 185 MARSH GLEN ATLANTA GA 30328 $134,400.19
600116283 COLTELLARO, J C 5804 NORWAY ROA DALLAS TX 75230 $143,898.37
600116284 JOHNSON, LYNDON 7300 SOUTH CAMI TUCSON AZ 85747 $129,917.10
600116285 PETERS, KATHRYN 1119 STONY CRE CEDAR HILL TX 75104 $111,933.88
600116286 CAMPA JR, ALFRED 537 CHELSEA DRI HENDERSON NV 89014 $63,959.19
600116287 COLE, TERRENCE 1140 HILLCREST SUGAR HILL GA 30518 $73,750.48
600116288 MCILVAINE, IAN 601 ROSE AVENUE (VENICE AREA) CA 90291 $187,873.85
600116289 TALBOT, DAVID 284 SOUTH FRANK DENVER CO 80209 $52,462.94
600116290 BUCK, DONITA 804 WEST SHEPPE LITTLETON CO 80120 $110,329.60
600116291 BARNETT JR, WALLACE 1140 DURKIN STR CAMARILLO CA 93010 $132,908.47
600116292 SWEATMAN, HUGH LOT 5 HOLTS COU DAWSONVILLE GA 30534 $57,962.06
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116279 SANSTRA, BOYD 7.875 .250 7.625 .0500 7.575 12/01/2027
600116280 CAVALERO, HORACE 7.875 .250 7.625 .0500 7.575 12/01/2027
600116281 BUEHLMAN, DIVINA 7.875 .250 7.625 .0500 7.575 12/01/2027
600116282 BEACHAM, TIMOTHY 7.500 .250 7.250 .0500 7.200 12/01/2027
600116283 COLTELLARO, J C 7.750 .250 7.500 .0500 7.450 12/01/2027
600116284 JOHNSON, LYNDON 8.250 .250 8.000 .0500 7.950 12/01/2027
600116285 PETERS, KATHRYN 8.625 .250 8.375 .0500 8.325 12/01/2027
600116286 CAMPA JR, ALFRED 8.250 .250 8.000 .0500 7.950 12/01/2027
600116287 COLE, TERRENCE 8.000 .250 7.750 .0500 7.700 12/01/2027
600116288 MCILVAINE, IAN 8.000 .250 7.750 .0500 7.700 12/01/2027
600116289 TALBOT, DAVID 7.750 .250 7.500 .0500 7.450 12/01/2027
600116290 BUCK, DONITA 8.250 .250 8.000 .0500 7.950 12/01/2027
600116291 BARNETT JR, WALLACE 7.875 .250 7.625 .0500 7.575 12/01/2027
600116292 SWEATMAN, HUGH 8.125 .250 7.875 .0500 7.825 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>
600116279 SANSTRA, BOYD 1272897 $862.83 01/01/1998 360
600116280 CAVALERO, HORACE 1272962 $968.69 01/01/1998 360
600116281 BUEHLMAN, DIVINA 1272996 $516.25 01/01/1998 360
600116282 BEACHAM, TIMOTHY 1273176 $940.44 01/01/1998 360
600116283 COLTELLARO, J C 1273309 $1,031.63 01/01/1998 360
600116284 JOHNSON, LYNDON 1273481 $976.65 01/01/1998 360
600116285 PETERS, KATHRYN 1273663 $871.12 01/01/1998 360
600116286 CAMPA JR, ALFRED 1274380 $480.81 01/01/1998 360
600116287 COLE, TERRENCE 1274398 $541.52 01/01/1998 360
600116288 MCILVAINE, IAN 1275106 $1,379.48 01/01/1998 360
600116289 TALBOT, DAVID 1275171 $376.12 01/01/1998 360
600116290 BUCK, DONITA 1275320 $829.40 01/01/1998 360
600116291 BARNETT JR, WALLACE 1275486 $964.34 01/01/1998 360
600116292 SWEATMAN, HUGH 1275635 $430.65 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600116279 SANSTRA, BOYD $155,000.00 N
600116280 CAVALERO, HORACE $167,000.00 N
600116281 BUEHLMAN, DIVINA $89,000.00 N
600116282 BEACHAM, TIMOTHY $315,000.00 N
600116283 COLTELLARO, J C $180,000.00 N
600116284 JOHNSON, LYNDON $199,950.00 N
600116285 PETERS, KATHRYN $145,000.00 N
600116286 CAMPA JR, ALFRED $87,000.00 N
600116287 COLE, TERRENCE $98,400.00 N
600116288 MCILVAINE, IAN $235,000.00 N
600116289 TALBOT, DAVID $200,000.00 N
600116290 BUCK, DONITA $138,000.00 N
600116291 BARNETT JR, WALLACE $168,000.00 N
600116292 SWEATMAN, HUGH $96,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 36
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116293 GREGORY, WALTER 110 BEECHTREE D ENCINITAS CA 92024 $187,567.52
600116294 SCHILLER, DEBORAH 814 WILLOWGLEN SANTA BARBARA CA 93105 $197,713.84
600116295 CHOUDHRY, ZAHID 1486 SOUTH OLAT AURORA CO 80017 $54,964.93
600116296 YATES, JANICE 613 LAS PARLES SANTA BARBARA CA 93111 $207,614.10
600116297 MILLER, PERRY 4439 WINDWARD C DALLAS TX 75287 $113,120.10
600116298 DANIEL, DAN 2202 WEST BEHRE PHOENIX AZ 85027 $55,266.50
600116299 CONSTANTINI, LESLIE 1572 CORMORANT CARLSBAD CA 92009 $149,896.78
600116300 HELLE, PETER 7488 EAST RUSTL SCOTTSDALE AZ 85255 $169,092.11
600116301 CALDIS, GORDON 295 ASPEN WAY EVERGREEN CO 80439 $69,503.34
600116302 BELCHER, SANDRA 102 WILLOUGHBY GREENVILLE NC 27858 $139,898.67
600116303 TOMINAGA, GERALD 22737 SCHOOLCRA WEST HILLS CA 91307 $151,997.94
600116304 HARPER, SANDRA 6932 85TH STRE LOS ANGELES CA 90045 $202,277.39
600116305 METTER, ROD 37577 HILLSIDE BASS LAKE CA 93604 $135,911.03
600116306 SOBHANI, JAMSHEED 9045 BERTRAND A (NORTHRIDGE ARE CA 91325 $157,641.43
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116293 GREGORY, WALTER 7.750 .250 7.500 .0500 7.450 12/01/2027
600116294 SCHILLER, DEBORAH 7.875 .250 7.625 .0500 7.575 12/01/2027
600116295 CHOUDHRY, ZAHID 8.250 .250 8.000 .0500 7.950 12/01/2027
600116296 YATES, JANICE 8.125 .250 7.875 .0500 7.825 12/01/2027
600116297 MILLER, PERRY 7.750 .250 7.500 .0500 7.450 12/01/2027
600116298 DANIEL, DAN 8.500 .250 8.250 .0500 8.200 12/01/2027
600116299 CONSTANTINI, LESLIE 7.875 .250 7.625 .0500 7.575 12/01/2027
600116300 HELLE, PETER 8.250 .250 8.000 .0500 7.950 12/01/2027
600116301 CALDIS, GORDON 8.000 .250 7.750 .0500 7.700 12/01/2027
600116302 BELCHER, SANDRA 7.625 .250 7.375 .0500 7.325 12/01/2027
600116303 TOMINAGA, GERALD 8.000 .250 7.750 .0500 7.700 12/01/2027
600116304 HARPER, SANDRA 8.500 .250 8.250 .0500 8.200 12/01/2027
600116305 METTER, ROD 8.125 .250 7.875 .0500 7.825 12/01/2027
600116306 SOBHANI, JAMSHEED 7.875 .250 7.625 .0500 7.575 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>
600116293 GREGORY, WALTER 1275932 $1,344.71 01/01/1998 360
600116294 SCHILLER, DEBORAH 1276260 $1,434.55 01/01/1998 360
600116295 CHOUDHRY, ZAHID 1276336 $413.20 01/01/1998 360
600116296 YATES, JANICE 1276344 $1,542.54 01/01/1998 360
600116297 MILLER, PERRY 1276443 $810.98 01/01/1998 360
600116298 DANIEL, DAN 1276526 $425.21 01/01/1998 360
600116299 CONSTANTINI, LESLIE 1276575 $1,087.60 01/01/1998 360
600116300 HELLE, PETER 1276922 $1,271.14 01/01/1998 360
600116301 CALDIS, GORDON 1277185 $510.33 01/01/1998 360
600116302 BELCHER, SANDRA 1278050 $990.91 01/01/1998 360
600116303 TOMINAGA, GERALD 1278068 $1,116.06 12 01/01/1998 360
600116304 HARPER, SANDRA 1278225 $1,556.28 01/01/1998 360
600116305 METTER, ROD 1278712 $1,009.80 01/01/1998 360
600116306 SOBHANI, JAMSHEED 1278746 $1,143.80 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600116293 GREGORY, WALTER $234,740.00 N
600116294 SCHILLER, DEBORAH $450,000.00 N
600116295 CHOUDHRY, ZAHID $128,000.00 N
600116296 YATES, JANICE $277,000.00 N
600116297 MILLER, PERRY $141,500.00 N
600116298 DANIEL, DAN $79,000.00 N
600116299 CONSTANTINI, LESLIE $320,000.00 N
600116300 HELLE, PETER $211,606.80 N
600116301 CALDIS, GORDON $107,000.00 N
600116302 BELCHER, SANDRA $175,000.00 N
600116303 TOMINAGA, GERALD $169,000.00 N
600116304 HARPER, SANDRA $253,000.00 N
600116305 METTER, ROD $170,000.00 N
600116306 SOBHANI, JAMSHEED $257,780.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 37
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116307 TUCKER, JAMES 10227 CARLOW LA LAPORTE TX 77571 $64,511.89
600116308 SPINNEY, RUSTY 811 SOUTH UNIVE DENVER CO 80209 $143,912.76
600116309 DUNCAN, KIRSTEN 4439 TRAVIS STR DALLAS TX 75205 $81,843.64
600116310 RISSER, SCOTT 2724 WEST PALOM CHANDLER AZ 85224 $217,350.31
600116311 TRIBBLE, ROBERT 24 SOUTH WENDY NEWBERRY PARK CA 91320 $186,871.31
600116312 ROBINSON, ROBERT 3185 EAST DATE BREA CA 92823 $175,878.88
600116313 ZHOU, YONG 2733 25TH AVENU OAKLAND CA 94601 $59,956.57
600116314 RIVERA, RAYMOND 417 HIGH STREET TRINIDAD CO 81082 $19,988.79
600116315 RIVERA, RAYMOND 419 HIGH STREET TRINIDAD CO 81082 $31,982.06
600116316 STEELE III, JOHN 2058 EAST SILVO TUCSON AZ 85713 $27,264.71
600116317 O'MEALEY, ELIZABETH 2606 LEXINGTON MCKINNEY TX 75070 $197,360.61
600116318 KARABATSOS, DIMITRIOS 2800 KENSINGTON WESTCHESTER IL 60154 $99,923.90
600116319 MATHEW, MANNIL 2801 DUCHESS TR PLANO TX 75074 $62,962.80
600116320 WILBERT, PAUL 1164 EAST 5TH A DURANGO CO 81301 $81,200.78
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116307 TUCKER, JAMES 8.625 .250 8.375 .0500 8.325 12/01/2027
600116308 SPINNEY, RUSTY 8.500 .250 8.250 .0500 8.200 12/01/2027
600116309 DUNCAN, KIRSTEN 7.875 .250 7.625 .0500 7.575 12/01/2027
600116310 RISSER, SCOTT 7.875 .250 7.625 .0500 7.575 12/01/2027
600116311 TRIBBLE, ROBERT 7.875 .250 7.625 .0500 7.575 12/01/2027
600116312 ROBINSON, ROBERT 7.875 .250 7.625 .0500 7.575 12/01/2027
600116313 ZHOU, YONG 7.625 .250 7.375 .0500 7.325 12/01/2027
600116314 RIVERA, RAYMOND 8.875 .250 8.625 .0500 8.575 12/01/2027
600116315 RIVERA, RAYMOND 8.875 .250 8.625 .0500 8.575 12/01/2027
600116316 STEELE III, JOHN 8.875 .250 8.625 .0500 8.575 12/01/2027
600116317 O'MEALEY, ELIZABETH 7.750 .250 7.500 .0500 7.450 12/01/2027
600116318 KARABATSOS, DIMITRIOS 7.375 .250 7.125 .0500 7.075 12/01/2027
600116319 MATHEW, MANNIL 8.625 .250 8.375 .0500 8.325 12/01/2027
600116320 WILBERT, PAUL 8.500 .250 8.250 .0500 8.200 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>
600116307 TUCKER, JAMES 1278860 $502.06 01/01/1998 360
600116308 SPINNEY, RUSTY 1278993 $1,107.24 7 01/01/1998 360
600116309 DUNCAN, KIRSTEN 1279074 $593.83 01/01/1998 360
600116310 RISSER, SCOTT 1279504 $1,577.03 01/01/1998 360
600116311 TRIBBLE, ROBERT 1279553 $1,355.88 01/01/1998 360
600116312 ROBINSON, ROBERT 1279736 $1,276.12 01/01/1998 360
600116313 ZHOU, YONG 1279751 $424.68 01/01/1998 360
600116314 RIVERA, RAYMOND 1280155 $159.13 01/01/1998 360
600116315 RIVERA, RAYMOND 1280163 $254.61 01/01/1998 360
600116316 STEELE III, JOHN 1280627 $217.05 01/01/1998 360
600116317 O'MEALEY, ELIZABETH 1281864 $1,414.91 01/01/1998 360
600116318 KARABATSOS, DIMITRIOS 1282359 $690.68 01/01/1998 360
600116319 MATHEW, MANNIL 1285014 $490.01 2 01/01/1998 360
600116320 WILBERT, PAUL 1285113 $624.74 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600116307 TUCKER, JAMES $88,000.00 N
600116308 SPINNEY, RUSTY $160,000.00 N
600116309 DUNCAN, KIRSTEN $126,000.00 N
600116310 RISSER, SCOTT $290,000.00 N
600116311 TRIBBLE, ROBERT $255,000.00 N
600116312 ROBINSON, ROBERT $220,000.00 N
600116313 ZHOU, YONG $78,000.00 N
600116314 RIVERA, RAYMOND $25,000.00 N
600116315 RIVERA, RAYMOND $40,000.00 N
600116316 STEELE III, JOHN $34,100.00 N
600116317 O'MEALEY, ELIZABETH $337,500.00 N
600116318 KARABATSOS, DIMITRIOS $190,000.00 N
600116319 MATHEW, MANNIL $70,000.00 N
600116320 WILBERT, PAUL $125,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 38
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116321 ROSE, DAVID 1315 LAKERIDGE IRVING TX 75063 $158,238.24
600116322 WILBERT, PAUL 439 EAST 4TH AV DURANGO CO 81301 $107,934.57
600116323 NGUYEN, STEVE 2225 MEREDITH L GARLAND TX 75042 $128,917.75
600116324 CANNON-DAVIDSON, GAIL 405 SOUTH 45TH BOULDER CO 80303 $148,904.99
600116325 PADDOCK, JAMES 3130 CENTENNIAL GARLAND TX 75042 $59,364.93
600116326 FEINSTEIN, BERNICE 801 MUIR AVENUE LAKE BLUFF IL 60044 $195,868.49
600116327 EZELDIN, SAM 7236 ARBOR LANE JUSTICE IL 60458 $143,208.62
600119521 GIORDANO,KENNETH J 3955 MANTLE RIDGE DRIVE CUMMING GA 30131 $225,817.97
600119558 SICILIANO,R. STEFANO 40 POUNDING BRANCH AFTON VA 22920 $77,953.95
600119559 MEADOWS, SR.,CALVIN E. 960 BRANDON WAY PHOENIX OR 97535 $87,911.31
600119583 SANFRANCESCO,JOSEPH M 101 S. 14TH AVENUE LONGPORT NJ 08403 $162,202.55
600119594 REEL,JAMES 915 WILEY BLVD. NW CEDAR RAPIDS IA 52405 $74,196.26
600119622 CORSON,DALE 1517 BEAVERHEAD HELENA MT 59602 $126,302.43
600119635 GREATHOUSE,PAUL D. 4438 SLIDE CIRCLE COLORADO SPRING CO 80917 $100,643.66
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116321 ROSE, DAVID 7.750 .250 7.500 .0500 7.450 12/01/2027
600116322 WILBERT, PAUL 8.500 .250 8.250 .0500 8.200 12/01/2027
600116323 NGUYEN, STEVE 8.250 .250 8.000 .0500 7.950 12/01/2027
600116324 CANNON-DAVIDSON, GAIL 8.250 .250 8.000 .0500 7.950 12/01/2027
600116325 PADDOCK, JAMES 8.625 .250 8.375 .0500 8.325 12/01/2027
600116326 FEINSTEIN, BERNICE 8.000 .250 7.750 .0500 7.700 12/01/2027
600116327 EZELDIN, SAM 8.250 .250 8.000 .0500 7.950 12/01/2027
600119521 GIORDANO,KENNETH J 7.625 .200 7.425 .0400 7.385 10/01/2027
600119558 SICILIANO,R. STEFANO 8.625 .200 8.425 .0400 8.385 12/01/2027
600119559 MEADOWS, SR.,CALVIN E. 7.625 .200 7.425 .0400 7.385 12/01/2027
600119583 SANFRANCESCO,JOSEPH M 8.500 .200 8.300 .0400 8.260 10/01/2027
600119594 REEL,JAMES 7.625 .200 7.425 .0400 7.385 12/01/2027
600119622 CORSON,DALE 7.625 .200 7.425 .0400 7.385 12/01/2027
600119635 GREATHOUSE,PAUL D. 7.750 .200 7.550 .0400 7.510 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>
600116321 ROSE, DAVID 1285139 $1,134.44 01/01/1998 360
600116322 WILBERT, PAUL 1285204 $830.43 01/01/1998 360
600116323 NGUYEN, STEVE 1285345 $969.13 01/01/1998 360
600116324 CANNON-DAVIDSON, GAIL 1285816 $1,119.39 01/01/1998 360
600116325 PADDOCK, JAMES 1286665 $462.01 2 01/01/1998 360
600116326 FEINSTEIN, BERNICE 1287978 $1,438.18 01/01/1998 360
600116327 EZELDIN, SAM 1289420 $1,076.57 01/01/1998 360
600119521 GIORDANO,KENNETH J 5175401 $1,602.45 01/01/1998 360
600119558 SICILIANO,R. STEFANO 5526868 $606.68 01/01/1998 360
600119559 MEADOWS, SR.,CALVIN E. 5529854 $622.86 01/01/1998 360
600119583 SANFRANCESCO,JOSEPH M 5607635 $1,249.49 01/01/1998 360
600119594 REEL,JAMES 5624051 $525.54 01/01/1998 360
600119622 CORSON,DALE 5706056 $894.66 01/01/1998 360
600119635 GREATHOUSE,PAUL D. 5714514 $722.15 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600116321 ROSE, DAVID $197,990.00 N
600116322 WILBERT, PAUL $180,000.00 N
600116323 NGUYEN, STEVE $161,270.00 N
600116324 CANNON-DAVIDSON, GAIL $204,000.00 N
600116325 PADDOCK, JAMES $66,000.00 N
600116326 FEINSTEIN, BERNICE $245,000.00 N
600116327 EZELDIN, SAM $180,515.00 N
600119521 GIORDANO,KENNETH J $283,000.00 N
600119558 SICILIANO,R. STEFANO $142,000.00 N
600119559 MEADOWS, SR.,CALVIN E. $113,000.00 N
600119583 SANFRANCESCO,JOSEPH M $325,000.00 N
600119594 REEL,JAMES $94,000.00 N
600119622 CORSON,DALE $158,000.00 N
600119635 GREATHOUSE,PAUL D. $126,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 39
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119655 HALTER,DAVID L 500 LAKE STREET REARDAN WA 99029 $71,900.57
600119663 MATHURA,ABHINAY K. 724 FALLON AVENUE SAN MATEO CA 94401 $219,688.44
600119692 HUNT,GEORGE B 5713 AMETHYST STREET ALTA LOMA CA 91737 $226,728.45
600119704 WILLEY,MICHAEL J 18121 NORTH EAST 125TH ST REDMOND WA 98052 $226,218.95
600119893 TRUBY,BUDDY D. OVERLAKE VIEW ROAD COCOLALLA ID 83813 $59,963.58
600119908 JOHNSON,WILLIAM E 355 LISBURN ROAD WELLSVILLE PA 17365 $159,892.64
600119978 SHOCK,PHYLLIS 4105 N. VAN MARTER RD SPOKANE WA 99206 $103,022.35
600120083 EILO,GLENDA W. 162 WALNUT RUN ROAD LANDENBERG PA 19350 $224,640.19
600120254 BORGSTROM,MARK CURTIS 234 DERBY LANE DURANGO CO 81301 $76,754.65
600120257 DIETZ,JAMES R 47793 TEN POINT DRIVE CANTON MI 48187 $226,068.02
600120275 KELLY,BARRIE C. 620 WILLINGTON DRIVE ELKO NV 89801 $73,153.32
600120284 MCNALLY,CAROLLYNN E 4214 LIBERTY COURT FLOWER MOUND TX 75028 $225,801.54
600120299 ZETENA,CHRISTOPHER M 1447 N.CLEVELAND AVE CHICAGO IL 60610 $225,068.84
600120639 ARAYA,RAFAEL 3631 S.W. 123 COURT MIAMI FL 33175 $100,129.79
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119655 HALTER,DAVID L 7.875 .200 7.675 .0400 7.635 11/01/2027
600119663 MATHURA,ABHINAY K. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119692 HUNT,GEORGE B 7.750 .200 7.550 .0400 7.510 11/01/2027
600119704 WILLEY,MICHAEL J 7.125 .200 6.925 .0400 6.885 12/01/2027
600119893 TRUBY,BUDDY D. 8.375 .200 8.175 .0400 8.135 12/01/2027
600119908 JOHNSON,WILLIAM E 8.000 .200 7.800 .0400 7.760 12/01/2027
600119978 SHOCK,PHYLLIS 7.750 .200 7.550 .0400 7.510 12/01/2027
600120083 EILO,GLENDA W. 7.000 .200 6.800 .0400 6.760 10/01/2027
600120254 BORGSTROM,MARK CURTIS 8.625 .200 8.425 .0400 8.385 12/01/2027
600120257 DIETZ,JAMES R 7.125 .200 6.925 .0400 6.885 09/01/2027
600120275 KELLY,BARRIE C. 8.250 .200 8.050 .0400 8.010 12/01/2027
600120284 MCNALLY,CAROLLYNN E 8.125 .200 7.925 .0400 7.885 09/01/2027
600120299 ZETENA,CHRISTOPHER M 7.250 .200 7.050 .0400 7.010 10/01/2027
600120639 ARAYA,RAFAEL 7.250 .250 7.000 .0500 6.950 05/01/2023
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600119655 HALTER,DAVID L 5721428 $522.05 01/01/1998 360
600119663 MATHURA,ABHINAY K. 5724299 $1,576.11 01/01/1998 360
600119692 HUNT,GEORGE B 5744974 $1,626.62 19 01/01/1998 360
600119704 WILLEY,MICHAEL J 5769708 $1,525.30 01/01/1998 360
600119893 TRUBY,BUDDY D. 5832977 $456.05 01/01/1998 360
600119908 JOHNSON,WILLIAM E 5892385 $1,174.03 01/01/1998 360
600119978 SHOCK,PHYLLIS 6269583 $739.34 01/01/1998 360
600120083 EILO,GLENDA W. 9665332 $1,499.60 01/01/1998 360
600120254 BORGSTROM,MARK CURTIS 6159776 $597.35 01/01/1998 360
600120257 DIETZ,JAMES R 6206379 $1,528.00 19 01/01/1998 360
600120275 KELLY,BARRIE C. 6295224 $549.93 01/01/1998 360
600120284 MCNALLY,CAROLLYNN E 9031899 $1,681.02 19 01/01/1998 360
600120299 ZETENA,CHRISTOPHER M 9979170 $1,538.99 01/01/1998 360
600120639 ARAYA,RAFAEL 36860 $720.38 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119655 HALTER,DAVID L $90,000.00 N
600119663 MATHURA,ABHINAY K. $275,000.00 N
600119692 HUNT,GEORGE B $239,000.00 N
600119704 WILLEY,MICHAEL J $283,000.00 N
600119893 TRUBY,BUDDY D. $136,000.00 N
600119908 JOHNSON,WILLIAM E $200,000.00 N
600119978 SHOCK,PHYLLIS $129,000.00 N
600120083 EILO,GLENDA W. $281,759.00 N
600120254 BORGSTROM,MARK CURTIS $128,000.00 N
600120257 DIETZ,JAMES R $252,000.00 N
600120275 KELLY,BARRIE C. $118,000.00 N
600120284 MCNALLY,CAROLLYNN E $251,556.00 N
600120299 ZETENA,CHRISTOPHER M $282,000.00 N
600120639 ARAYA,RAFAEL $132,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 40
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120641 BAKER,WILBUR N 2721 GALAHAD STREET BATON ROUGE LA 70816 $17,732.87
600120642 HERRIN,ADELLA F. 10745 SW 119TH STREET MIAMI FL 33176 $28,332.75
600120643 NGUYEN,THU 8131 NW 191 STREET MIAMI FL 33015 $39,092.86
600120644 STANLEY,BARBARA ANN 10820 NW 19TH STREET PEMBROKE PINES FL 33026 $41,907.74
600120645 PALENZUELA,LAZARO 10883 SW 69TH DRIVE MIAMI FL 33173 $45,654.32
600120646 WIERSMA,DAVID SCOTT 8231 N.W. 15TH COURT PEMBROKE PINES FL 33024 $46,835.27
600120647 HILL,SARAHLENE 17420 NW 77 COURT HIALEAH FL 33015 $48,804.44
600120648 DUNCKER,LEISA S. 12026 S.W. 210TH STREET MIAMI FL 33177 $51,810.53
600120649 KAMP,KATHY LINN 4021 37 AVENUE SOUTH MINNEAPOLIS MN 55406 $53,984.48
600120650 DEL AMO,MARY C. 11339 SW 70 TERRACE MIAMI FL 33173 $54,480.72
600120651 REID,THOMAS F. 15011 SOUTH BISCAYNE RIVE MIAMI FL 33168 $54,320.76
600120652 HALPERN,PETER J. 109 NE 104 STREET MIAMI SHORES FL 33138 $54,678.45
600120653 TANON,ANDRES E. 3561 SW 122 COURT MIAMI FL 33175 $55,299.00
600120655 GOODNIGHT,TERRY J. 2100 NORTH 14 STREET BOISE ID 83702 $56,639.89
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120641 BAKER,WILBUR N 8.750 .250 8.500 .0500 8.450 10/10/2008
600120642 HERRIN,ADELLA F. 7.750 .250 7.500 .0500 7.450 01/01/2014
600120643 NGUYEN,THU 7.750 .250 7.500 .0500 7.450 09/01/2018
600120644 STANLEY,BARBARA ANN 7.750 .250 7.500 .0500 7.450 08/01/2016
600120645 PALENZUELA,LAZARO 7.750 .250 7.500 .0500 7.450 07/01/2018
600120646 WIERSMA,DAVID SCOTT 7.400 .250 7.150 .0500 7.100 10/01/2023
600120647 HILL,SARAHLENE 7.875 .250 7.625 .0500 7.575 03/01/2021
600120648 DUNCKER,LEISA S. 7.250 .250 7.000 .0500 6.950 01/01/2023
600120649 KAMP,KATHY LINN 7.250 .250 7.000 .0500 6.950 04/01/2023
600120650 DEL AMO,MARY C. 7.750 .250 7.500 .0500 7.450 08/01/2021
600120651 REID,THOMAS F. 7.200 .250 6.950 .0500 6.900 10/01/2019
600120652 HALPERN,PETER J. 7.250 .250 7.000 .0500 6.950 06/01/2023
600120653 TANON,ANDRES E. 7.750 .250 7.500 .0500 7.450 03/01/2022
600120655 GOODNIGHT,TERRY J. 7.500 .250 7.250 .0500 7.200 11/01/2022
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120641 BAKER,WILBUR N 2170 $328.04 01/01/1998 360
600120642 HERRIN,ADELLA F. 12720 $257.92 01/01/1998 360
600120643 NGUYEN,THU 13440 $553.66 19 01/01/1998 360
600120644 STANLEY,BARBARA ANN 13020 $435.30 01/01/1998 293
600120645 PALENZUELA,LAZARO 11780 $439.02 01/01/1998 360
600120646 WIERSMA,DAVID SCOTT 37630 $373.90 01/01/1998 360
600120647 HILL,SARAHLENE 25970 $382.22 01/01/1998 360
600120648 DUNCKER,LEISA S. 36500 $376.58 01/01/1998 360
600120649 KAMP,KATHY LINN 36780 $388.85 19 01/01/1998 360
600120650 DEL AMO,MARY C. 26870 $419.74 2 01/01/1998 360
600120651 REID,THOMAS F. 17280 $412.50 01/01/1998 312
600120652 HALPERN,PETER J. 37070 $392.94 01/01/1998 360
600120653 TANON,ANDRES E. 32730 $422.70 01/01/1998 360
600120655 GOODNIGHT,TERRY J. 35300 $419.54 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120641 BAKER,WILBUR N $79,900.00 N
600120642 HERRIN,ADELLA F. $90,000.00 N
600120643 NGUYEN,THU $89,000.00 N
600120644 STANLEY,BARBARA ANN $120,000.00 N
600120645 PALENZUELA,LAZARO $76,000.00 N
600120646 WIERSMA,DAVID SCOTT $74,000.00 N
600120647 HILL,SARAHLENE $80,000.00 N
600120648 DUNCKER,LEISA S. $69,000.00 N
600120649 KAMP,KATHY LINN $65,000.00 N
600120650 DEL AMO,MARY C. $65,000.00 N
600120651 REID,THOMAS F. $75,000.00 N
600120652 HALPERN,PETER J. $72,000.00 N
600120653 TANON,ANDRES E. $80,000.00 N
600120655 GOODNIGHT,TERRY J. $84,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 41
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120656 ESCOFFERY,HORACE 7820 INDIGO STREET MIRAMAR FL 33023 $60,075.47
600120657 GARCIA,DANIEL R. 9530 SW 45TH STREET MIAMI FL 33165 $60,327.29
600120658 SUEIRAS,MARGARET M. 11780 NE 8TH AVENUE BISCAYNE PARK FL 33161 $61,315.22
600120660 ALTUNA,FRANCISCO J. 6275 N.W. 199 TERRACE MIAMI FL 33015 $64,441.22
600120661 GUEVARA,MIGDALIA 4055 SW 108 AVENUE MIAMI FL 33165 $64,867.14
600120662 GARVEY,KATHY ANNA 7343 COLDSTREAM DRIVE COLUMBUS OH 43235 $65,430.90
600120663 HALLIGAN,MICHAEL EDWARD 2427 TAYLOR STREET HOLLYWOOD FL 33020 $66,160.65
600120664 THOMPSON,PAUL A. 15500 S.W. 57 STREET MIAMI FL 33193 $66,887.37
600120665 JUDGES,ROBERT W. 10400 SW 41ST TERRACE MIAMI FL 33165 $66,550.46
600120666 MCCULLOUGH,MARY E. 1541 NE 108 STREET MIAMI FL 33161 $67,536.22
600120667 VILLEGAS,JUAN P. 14344 SW 103 TERRACE MIAMI FL 33186 $68,287.28
600120669 MARCETTI,PATRICIA A. 9190 NW 49 COURT SUNRISE FL 33351 $72,018.70
600120670 BARROSO,GUILLERMO 3741 S.W. 104 COURT MIAMI FL 33165 $72,461.79
600120671 UTSET,EDWARDO E. 3290 SW 16 TERRACE MIAMI FL 33145 $73,335.08
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120656 ESCOFFERY,HORACE 7.750 .250 7.500 .0500 7.450 07/01/2018
600120657 GARCIA,DANIEL R. 7.250 .250 7.000 .0500 6.950 10/01/2018
600120658 SUEIRAS,MARGARET M. 7.500 .250 7.250 .0500 7.200 05/01/2016
600120660 ALTUNA,FRANCISCO J. 7.250 .250 7.000 .0500 6.950 02/01/2023
600120661 GUEVARA,MIGDALIA 8.250 .250 8.000 .0500 7.950 07/01/2022
600120662 GARVEY,KATHY ANNA 8.500 .250 8.250 .0500 8.200 06/01/2022
600120663 HALLIGAN,MICHAEL EDWARD 7.250 .250 7.000 .0500 6.950 12/01/2022
600120664 THOMPSON,PAUL A. 7.100 .250 6.850 .0500 6.800 01/01/2024
600120665 JUDGES,ROBERT W. 7.500 .250 7.250 .0500 7.200 07/01/2017
600120666 MCCULLOUGH,MARY E. 7.250 .250 7.000 .0500 6.950 01/01/2023
600120667 VILLEGAS,JUAN P. 7.250 .250 7.000 .0500 6.950 05/01/2021
600120669 MARCETTI,PATRICIA A. 7.250 .250 7.000 .0500 6.950 12/01/2022
600120670 BARROSO,GUILLERMO 7.750 .250 7.500 .0500 7.450 06/01/2022
600120671 UTSET,EDWARDO E. 8.250 .250 8.000 .0500 7.950 07/01/2022
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120656 ESCOFFERY,HORACE 11860 $488.60 2 01/01/1998 360
600120657 GARCIA,DANIEL R. 14160 $469.98 19 01/01/1998 360
600120658 SUEIRAS,MARGARET M. 13060 $513.64 01/01/1998 360
600120660 ALTUNA,FRANCISCO J. 36580 $465.26 01/01/1998 360
600120661 GUEVARA,MIGDALIA 34190 $514.62 19 01/01/1998 360
600120662 GARVEY,KATHY ANNA 33920 $530.56 2 01/01/1998 360
600120663 HALLIGAN,MICHAEL EDWARD 35620 $507.54 01/01/1998 360
600120664 THOMPSON,PAUL A. 38640 $470.43 01/01/1998 360
600120665 JUDGES,ROBERT W. 12750 $542.10 19 01/01/1998 297
600120666 MCCULLOUGH,MARY E. 35670 $491.18 01/01/1998 360
600120667 VILLEGAS,JUAN P. 26090 $506.32 19 01/01/1998 329
600120669 MARCETTI,PATRICIA A. 35570 $521.20 01/01/1998 360
600120670 BARROSO,GUILLERMO 33260 $551.64 01/01/1998 360
600120671 UTSET,EDWARDO E. 34120 $582.24 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120656 ESCOFFERY,HORACE $75,000.00 N
600120657 GARCIA,DANIEL R. $75,000.00 N
600120658 SUEIRAS,MARGARET M. $80,000.00 N
600120660 ALTUNA,FRANCISCO J. $105,000.00 N
600120661 GUEVARA,MIGDALIA $76,500.00 N
600120662 GARVEY,KATHY ANNA $76,800.00 N
600120663 HALLIGAN,MICHAEL EDWARD $93,000.00 N
600120664 THOMPSON,PAUL A. $106,000.00 N
600120665 JUDGES,ROBERT W. $85,000.00 N
600120666 MCCULLOUGH,MARY E. $90,000.00 N
600120667 VILLEGAS,JUAN P. $82,000.00 N
600120669 MARCETTI,PATRICIA A. $95,500.00 N
600120670 BARROSO,GUILLERMO $103,000.00 N
600120671 UTSET,EDWARDO E. $106,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 42
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120672 CABANAS BARNARD,MAYRA B. 3235 S.W. 106 AVENUE MIAMI FL 33165 $72,798.15
600120673 ADAMS,STEPHEN T. 6168 ROCKLAND DRIVE DUBLIN OH 43017 $72,524.71
600120674 PAULA,IDOLIDIA B. 204 CAMPINA COURT CORAL GABLES FL 33134 $73,820.71
600120675 LLUCH,JUAN 10350 NW 14 STREET PLANTATION FL 33322 $75,475.36
600120676 WILLEY,MARK V. 2021 SOMMERSET DRIVE WHEATON IL 60187 $75,998.71
600120677 SCHWARTZ,ALAN 2101 NW 118TH AVENUE PEMBROKE PINES FL 33026 $76,970.79
600120678 DERY,ADRIAN H. 10025 SW 139TH PLACE MIAMI FL 33186 $77,238.60
600120679 CIVIDANES,RICHARDO 8930 SW 196 DRIVE MIAMI FL 33157 $77,982.14
600120680 ANDERSON,JAMES Y 11500 NW 14TH COURT PEMBROKE PINES FL 33026 $76,898.62
600120681 BASSIN,IGOR 2736 CAYENNE AVENUE COOPER CITY FL 33026 $79,191.45
600120682 DIAZ-SILVEIRA,ALBERTO 940 N.W. 40 AVENUE MIAMI FL 33126 $79,941.36
600120683 SCHAFFER,BRADLEY E. 5324 BROOKSWOOD ROAD CRESTWOOD KY 40014 $80,511.81
600120684 CHENOWETH,DALYN S. 3514 NORTH 39TH STREET BOISE ID 83703 $80,612.00
600120685 STERLING, JR.,WILLIAM F. 8733 LACONIA DRIVE POWELL OH 43065 $81,578.70
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120672 CABANAS BARNARD,MAYRA B. 7.250 .250 7.000 .0500 6.950 01/01/2023
600120673 ADAMS,STEPHEN T. 7.750 .250 7.500 .0500 7.450 06/01/2012
600120674 PAULA,IDOLIDIA B. 7.750 .250 7.500 .0500 7.450 10/01/2020
600120675 LLUCH,JUAN 7.250 .250 7.000 .0500 6.950 10/01/2020
600120676 WILLEY,MARK V. 7.750 .250 7.500 .0500 7.450 04/15/2016
600120677 SCHWARTZ,ALAN 7.750 .250 7.500 .0500 7.450 12/01/2018
600120678 DERY,ADRIAN H. 6.750 .250 6.500 .0500 6.450 12/01/2017
600120679 CIVIDANES,RICHARDO 7.500 .250 7.250 .0500 7.200 09/01/2022
600120680 ANDERSON,JAMES Y 7.750 .250 7.500 .0500 7.450 10/01/2018
600120681 BASSIN,IGOR 7.100 .250 6.850 .0500 6.800 11/01/2021
600120682 DIAZ-SILVEIRA,ALBERTO 7.250 .250 7.000 .0500 6.950 03/01/2024
600120683 SCHAFFER,BRADLEY E. 7.750 .250 7.500 .0500 7.450 07/01/2020
600120684 CHENOWETH,DALYN S. 7.100 .250 6.850 .0500 6.800 01/01/2024
600120685 STERLING, JR.,WILLIAM F. 8.500 .250 8.250 .0500 8.200 07/01/2024
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120672 CABANAS BARNARD,MAYRA B. 36490 $532.10 01/01/1998 360
600120673 ADAMS,STEPHEN T. 33800 $697.82 01/01/1998 360
600120674 PAULA,IDOLIDIA B. 24660 $576.16 12 01/01/1998 360
600120675 LLUCH,JUAN 24700 $565.14 01/01/1998 360
600120676 WILLEY,MARK V. 13120 $649.44 01/01/1998 360
600120677 SCHWARTZ,ALAN 14350 $620.40 01/01/1998 360
600120678 DERY,ADRIAN H. 13160 $588.48 01/01/1998 360
600120679 CIVIDANES,RICHARDO 34570 $578.96 01/01/1998 360
600120680 ANDERSON,JAMES Y 14130 $638.14 01/01/1998 360
600120681 BASSIN,IGOR 27960 $574.96 01/01/1998 360
600120682 DIAZ-SILVEIRA,ALBERTO 38930 $573.03 01/01/1998 360
600120683 SCHAFFER,BRADLEY E. 24060 $631.22 01/01/1998 360
600120684 CHENOWETH,DALYN S. 38430 $571.24 01/01/1998 360
600120685 STERLING, JR.,WILLIAM F. 41160 $646.36 2 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120672 CABANAS BARNARD,MAYRA B. $110,000.00 N
600120673 ADAMS,STEPHEN T. $122,000.00 N
600120674 PAULA,IDOLIDIA B. $89,000.00 N
600120675 LLUCH,JUAN $180,900.00 N
600120676 WILLEY,MARK V. $217,900.00 N
600120677 SCHWARTZ,ALAN $115,500.00 N
600120678 DERY,ADRIAN H. $111,500.00 N
600120679 CIVIDANES,RICHARDO $103,500.00 N
600120680 ANDERSON,JAMES Y $110,000.00 N
600120681 BASSIN,IGOR $112,114.00 N
600120682 DIAZ-SILVEIRA,ALBERTO $105,000.00 N
600120683 SCHAFFER,BRADLEY E. $109,500.00 N
600120684 CHENOWETH,DALYN S. $121,000.00 N
600120685 STERLING, JR.,WILLIAM F. $93,400.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 43
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120686 MCLEOD,NEIL 14660 S.W. 93 LANE MIAMI FL 33186 $82,677.40
600120687 COOPER,LANCE 11461 SW 75 TERRACE MIAMI FL 33173 $82,681.43
600120688 DEL RIO,JOSE 108 S.W. 159 WAY SUNRISE FL 33326 $82,844.19
600120689 HERRERO,JOSE A. 941 NW 128 AVENUE MIAMI FL 33182 $84,071.52
600120690 MCCLASKEY,DONALD M. 10220 SW 96TH TERRACE MIAMI FL 33176 $84,449.30
600120691 ARIAS,JUAN VICENTE 12784 N.W. 9TH TERRACE MIAMI FL 33182 $85,707.41
600120692 GONZALEZ,JORGE 14014 S.W. 42ND TERRACE MIAMI FL 33175 $86,931.23
600120693 BOAN,BILLY R. 13562 S.W. 99 TERRACE MIAMI FL 33186 $90,963.84
600120694 SCANLON,JOHN F. 302 PARTRIDGE HILL ROAD CHARLTON MA 01507 $91,027.38
600120695 HENNEN,CARLYE R. 1210 N.W. 95TH AVENUE PLANTATION FL 33324 $90,292.23
600120696 MILLMAN,MAXINE 8910 SW 150 PLACE CIRCLE MIAMI FL 33196 $89,966.96
600120697 SANTANA,MARIANO 104 HICKORY STREET CARTERET NJ 07008 $91,224.60
600120698 MIDDLESTAEDT,MILFORD L. 8806 SW 150TH PLACE CIRCL MIAMI FL 33196 $91,202.45
600120699 VINETAS,GEORGE 6999 SW 147 PLACE MIAMI FL 33193 $91,876.48
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120686 MCLEOD,NEIL 7.500 .250 7.250 .0500 7.200 07/01/2023
600120687 COOPER,LANCE 7.250 .250 7.000 .0500 6.950 07/01/2023
600120688 DEL RIO,JOSE 7.250 .250 7.000 .0500 6.950 02/01/2024
600120689 HERRERO,JOSE A. 7.500 .250 7.250 .0500 7.200 04/01/2020
600120690 MCCLASKEY,DONALD M. 9.000 .250 8.750 .0500 8.700 02/01/2017
600120691 ARIAS,JUAN VICENTE 7.100 .250 6.850 .0500 6.800 04/01/2024
600120692 GONZALEZ,JORGE 7.250 .250 7.000 .0500 6.950 03/01/2023
600120693 BOAN,BILLY R. 7.100 .250 6.850 .0500 6.800 03/01/2024
600120694 SCANLON,JOHN F. 8.250 .250 8.000 .0500 7.950 01/01/2022
600120695 HENNEN,CARLYE R. 7.750 .250 7.500 .0500 7.450 03/01/2016
600120696 MILLMAN,MAXINE 7.250 .250 7.000 .0500 6.950 10/01/2019
600120697 SANTANA,MARIANO 8.850 .250 8.600 .0500 8.550 09/15/2016
600120698 MIDDLESTAEDT,MILFORD L. 9.000 .250 8.750 .0500 8.700 07/01/2016
600120699 VINETAS,GEORGE 6.750 .250 6.500 .0500 6.450 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>
600120686 MCLEOD,NEIL 37290 $606.92 01/01/1998 360
600120687 COOPER,LANCE 37300 $593.50 01/01/1998 360
600120688 DEL RIO,JOSE 38840 $590.10 2 01/01/1998 360
600120689 HERRERO,JOSE A. 22810 $652.18 19 01/01/1998 360
600120690 MCCLASKEY,DONALD M. 12840 $776.84 01/01/1998 360
600120691 ARIAS,JUAN VICENTE 39320 $604.83 01/01/1998 360
600120692 GONZALEZ,JORGE 36730 $627.62 01/01/1998 360
600120693 BOAN,BILLY R. 38900 $643.81 2 01/01/1998 360
600120694 SCANLON,JOHN F. 26160 $726.85 2 01/01/1998 360
600120695 HENNEN,CARLYE R. 12680 $779.78 01/01/1998 360
600120696 MILLMAN,MAXINE 18040 $789.00 01/01/1998 360
600120697 SANTANA,MARIANO 13200 $833.55 01/01/1998 360
600120698 MIDDLESTAEDT,MILFORD L. 12850 $845.18 01/01/1998 360
600120699 VINETAS,GEORGE 36840 $632.40 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120686 MCLEOD,NEIL $112,000.00 N
600120687 COOPER,LANCE $116,000.00 N
600120688 DEL RIO,JOSE $97,500.00 N
600120689 HERRERO,JOSE A. $102,900.00 N
600120690 MCCLASKEY,DONALD M. $107,900.00 N
600120691 ARIAS,JUAN VICENTE $120,000.00 N
600120692 GONZALEZ,JORGE $115,000.00 N
600120693 BOAN,BILLY R. $110,000.00 N
600120694 SCANLON,JOHN F. $107,500.00 N
600120695 HENNEN,CARLYE R. $160,000.00 N
600120696 MILLMAN,MAXINE $165,000.00 N
600120697 SANTANA,MARIANO $135,000.00 N
600120698 MIDDLESTAEDT,MILFORD L. $161,000.00 N
600120699 VINETAS,GEORGE $125,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 44
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120700 HAJDUK CONDON,PATRICIA J. 17095 130 AVENUE JUPITER FL 33478 $92,259.10
600120701 SUAREZ,JORGE 14236 SW 52 STREET MIAMI FL 33175 $92,774.55
600120702 PIJEIRA,JUDITH M. 13753 SW 21 STREET MIAMI FL 33175 $92,776.39
600120703 HENAO,PATRICIA 666 N.E. 115 STREET BISCAYNE PARK FL 33166 $93,215.13
600120704 HAMILTON,SANDRA B. 140 SHADOW WAY MIAMI SPRINGS FL 33166 $92,473.76
600120705 NORMAN,BRENT D. 3001 LITTLE NORMAN LANE EVANSVILLE IN 47720 $72,868.57
600120706 LUNDQUIST,ROBERT W. ROUTE 1 BOX 112 STURGEON LAKE MN 55783 $93,898.65
600120707 WELLS,FRANKYE M. 5691 128TH STREET WEST APPLE VALL MN 55124 $94,622.47
600120708 JUDGE,THOMAS J. 1551 NW 105 AVENUE PLANTATION FL 33322 $95,750.77
600120709 ALVAREZ,FULGENCIO 12221 S.W. 3 TERRACE MIAMI FL 33184 $96,152.67
600120710 PASTOREK,CHRISTINE A 3412 ELM CREEK DRIVE MEDINA MN 55340 $94,439.84
600120711 DONALDSON,LESTER 13892 S.W. 74 TERRACE MIAMI FL 33183 $98,529.49
600120712 FAVINGER,JEFFREY H. 5041 SW 87TH TERRACE COOPER CITY FL 33328 $98,404.00
600120713 DANIELS,MICHAEL E. 13320 S.W. 108TH PLACE MIAMI FL 33176 $99,829.37
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120700 HAJDUK CONDON,PATRICIA J. 7.250 .250 7.000 .0500 6.950 05/01/2024
600120701 SUAREZ,JORGE 7.100 .250 6.850 .0500 6.800 12/01/2023
600120702 PIJEIRA,JUDITH M. 7.250 .250 7.000 .0500 6.950 04/01/2023
600120703 HENAO,PATRICIA 7.250 .250 7.000 .0500 6.950 06/01/2024
600120704 HAMILTON,SANDRA B. 7.250 .250 7.000 .0500 6.950 11/01/2022
600120705 NORMAN,BRENT D. 7.250 .250 7.000 .0500 6.950 01/01/2023
600120706 LUNDQUIST,ROBERT W. 8.170 .250 7.920 .0500 7.870 01/15/2017
600120707 WELLS,FRANKYE M. 7.250 .250 7.000 .0500 6.950 11/01/2022
600120708 JUDGE,THOMAS J. 7.750 .250 7.500 .0500 7.450 04/01/2022
600120709 ALVAREZ,FULGENCIO 8.250 .250 8.000 .0500 7.950 10/01/2025
600120710 PASTOREK,CHRISTINE A 7.750 .250 7.500 .0500 7.450 02/01/2019
600120711 DONALDSON,LESTER 7.100 .250 6.850 .0500 6.800 02/01/2024
600120712 FAVINGER,JEFFREY H. 7.500 .250 7.250 .0500 7.200 01/01/2021
600120713 DANIELS,MICHAEL E. 7.000 .250 6.750 .0500 6.700 11/01/2023
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120700 HAJDUK CONDON,PATRICIA J. 39360 $656.26 01/01/1998 360
600120701 SUAREZ,JORGE 38360 $653.22 2 01/01/1998 360
600120702 PIJEIRA,JUDITH M. 36820 $668.47 2 01/01/1998 360
600120703 HENAO,PATRICIA 40660 $661.72 2 01/01/1998 360
600120704 HAMILTON,SANDRA B. 35480 $675.97 2 01/01/1998 360
600120705 NORMAN,BRENT D. 35860 $682.18 01/01/1998 360
600120706 LUNDQUIST,ROBERT W. 12820 $820.22 01/01/1998 342
600120707 WELLS,FRANKYE M. 35500 $685.60 01/01/1998 360
600120708 JUDGE,THOMAS J. 32900 $730.74 01/01/1998 360
600120709 ALVAREZ,FULGENCIO 51020 $736.25 2 01/01/1998 360
600120710 PASTOREK,CHRISTINE A 15000 $768.20 01/01/1998 360
600120711 DONALDSON,LESTER 38710 $692.20 01/01/1998 360
600120712 FAVINGER,JEFFREY H. 25450 $753.40 2 01/01/1998 339
600120713 DANIELS,MICHAEL E. 38120 $697.24 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120700 HAJDUK CONDON,PATRICIA J. $160,000.00 N
600120701 SUAREZ,JORGE $109,650.00 N
600120702 PIJEIRA,JUDITH M. $99,900.00 N
600120703 HENAO,PATRICIA $115,000.00 N
600120704 HAMILTON,SANDRA B. $110,100.00 N
600120705 NORMAN,BRENT D. $155,900.00 N
600120706 LUNDQUIST,ROBERT W. $236,500.00 N
600120707 WELLS,FRANKYE M. $134,000.00 N
600120708 JUDGE,THOMAS J. $136,000.00 N
600120709 ALVAREZ,FULGENCIO $115,000.00 N
600120710 PASTOREK,CHRISTINE A $132,500.00 N
600120711 DONALDSON,LESTER $135,000.00 N
600120712 FAVINGER,JEFFREY H. $119,000.00 N
600120713 DANIELS,MICHAEL E. $155,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 45
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120714 BRIGGS,CHERYL A. 19761 RUM RIVER BOULEVARD OAK GROVE MN 55303 $99,390.85
600120715 HAMMOND,MICHAEL K. 14520 S.W. 153 TERR. MIAMI FL 33177 $99,814.33
600120716 CHANNING,EILEEN C. 11702 SW 100 AVENUE MIAMI FL 33176 $101,100.44
600120717 LAAGE,PAUL R. 421 BUTTERNUT LANE ST MICHAEL MN 55376 $100,442.66
600120718 WEISS JR,PAULA 539 HECKEL AVENUE SPRING CITY PA 19475 $104,800.16
600120719 MONAHAN,MICHAEL J. RR #1, BOX 648 RIDGE ROAD CAMPBELL HALL NY 10916 $104,239.26
600120720 SCHULZ,SAMUEL J. 11824 S.W. 108 AVENUE MIAMI FL 33176 $105,397.89
600120721 COX,JAMES WARREN 10020 KENDALE BLVD MIAMI FL 33157 $105,578.61
600120722 KENT,ELIZABETH 550 NE 95 STREET MIAMI SHORES FL 33138 $106,078.02
600120723 REIZ,FRANCINE M. 730 S.W. 158 LANE SUNRISE FL 33326 $106,393.82
600120724 PARDILLO,JORGE A. 5661 S.W. 6TH STREET PLANTATION FL 33317 $108,555.94
600120725 DELLAPOSTA,JANICE LYN 17536 WEST BLUFF DRIVE GRAYSLAKE IL 60030 $108,858.93
600120726 KELLER,DAVID W. 5410 N. PENNSYLVANIA STRE INDIANAPOLIS IN 46220 $109,152.53
600120727 MARTIN,MARIA E. 14530 HARRIS PLACE MIAMI LAKES FL 33014 $109,313.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120714 BRIGGS,CHERYL A. 7.750 .250 7.500 .0500 7.450 10/01/2021
600120715 HAMMOND,MICHAEL K. 7.750 .250 7.500 .0500 7.450 09/01/2020
600120716 CHANNING,EILEEN C. 8.250 .250 8.000 .0500 7.950 01/01/2022
600120717 LAAGE,PAUL R. 7.100 .250 6.850 .0500 6.800 07/01/2018
600120718 WEISS JR,PAULA 7.250 .250 7.000 .0500 6.950 06/01/2023
600120719 MONAHAN,MICHAEL J. 7.400 .250 7.150 .0500 7.100 11/01/2023
600120720 SCHULZ,SAMUEL J. 7.750 .250 7.500 .0500 7.450 06/01/2022
600120721 COX,JAMES WARREN 7.250 .250 7.000 .0500 6.950 12/01/2022
600120722 KENT,ELIZABETH 7.500 .250 7.250 .0500 7.200 10/01/2022
600120723 REIZ,FRANCINE M. 8.000 .250 7.750 .0500 7.700 06/01/2024
600120724 PARDILLO,JORGE A. 6.750 .250 6.500 .0500 6.450 04/01/2023
600120725 DELLAPOSTA,JANICE LYN 7.750 .250 7.500 .0500 7.450 08/01/2020
600120726 KELLER,DAVID W. 7.750 .250 7.500 .0500 7.450 02/01/2023
600120727 MARTIN,MARIA E. 7.100 .250 6.850 .0500 6.800 01/01/2024
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120714 BRIGGS,CHERYL A. 27900 $815.40 01/01/1998 360
600120715 HAMMOND,MICHAEL K. 24620 $780.08 2 01/01/1998 342
600120716 CHANNING,EILEEN C. 28020 $811.38 01/01/1998 360
600120717 LAAGE,PAUL R. 9980 $781.64 01/01/1998 360
600120718 WEISS JR,PAULA 37190 $753.14 01/01/1998 360
600120719 MONAHAN,MICHAEL J. 38100 $761.62 01/01/1998 360
600120720 SCHULZ,SAMUEL J. 33280 $802.40 01/01/1998 360
600120721 COX,JAMES WARREN 35710 $764.04 01/01/1998 360
600120722 KENT,ELIZABETH 34700 $786.62 2 01/01/1998 360
600120723 REIZ,FRANCINE M. 41080 $812.28 2 01/01/1998 360
600120724 PARDILLO,JORGE A. 36850 $747.20 01/01/1998 360
600120725 DELLAPOSTA,JANICE LYN 24600 $851.92 01/01/1998 360
600120726 KELLER,DAVID W. 36610 $823.88 2 01/01/1998 360
600120727 MARTIN,MARIA E. 38410 $768.82 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120714 BRIGGS,CHERYL A. $142,500.00 N
600120715 HAMMOND,MICHAEL K. $120,500.00 N
600120716 CHANNING,EILEEN C. $145,000.00 N
600120717 LAAGE,PAUL R. $153,000.00 N
600120718 WEISS JR,PAULA $138,000.00 N
600120719 MONAHAN,MICHAEL J. $146,000.00 N
600120720 SCHULZ,SAMUEL J. $140,000.00 N
600120721 COX,JAMES WARREN $140,000.00 N
600120722 KENT,ELIZABETH $125,000.00 N
600120723 REIZ,FRANCINE M. $129,000.00 N
600120724 PARDILLO,JORGE A. $144,000.00 N
600120725 DELLAPOSTA,JANICE LYN $147,900.00 N
600120726 KELLER,DAVID W. $135,000.00 N
600120727 MARTIN,MARIA E. $143,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 46
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120728 VOLK,GLEN RICHARD 811 AMHERST AVENUE DAVIE FL 33325 $109,504.51
600120729 KUZARA,JOHN THOMAS 19113 PLEASANT VIEW ROAD EDEN PRAIRIE MN 55346 $109,517.24
600120730 LI,WENCHING 8401 SW 155 TERRACE MIAMI FL 33157 $111,289.58
600120731 HILLMAN,WILLIAM 12354 ORANGE BLVD. WEST PALM BEACH FL 33412 $111,181.25
600120732 DELANEY,STEVEN S. 234 EAST FAIRWOOD DRIVE CHALFONT PA 18914 $111,869.81
600120733 CHALMERS,JEFFREY S. 213 COUNTRY DRIVE BARTLETT IL 60103 $112,927.37
600120734 VACCARO,CHRISTOPHER J. 139 BARNES ROAD WASHINGOTONVILL NY 10992 $117,691.96
600120735 MARTINEZ,HUMBERTO J. 9005 S.W. 85 TERRACE MIAMI FL 33173 $120,795.67
600120736 BROOKS,WILLIAM M. 9535 VIEWSIDE DRIVE DALLAS TX 75231 $122,427.37
600120737 JASLOW,LANE A. 3509 MONEGRO STREET CORAL GABLES FL 33134 $123,646.98
600120738 SWANSON,CHARLES A. 113 NORTH PINE ARLINGTON HEIGH IL 60004 $123,444.78
600120739 WONNELL,DANIEL WILLIAM 306 LEIGHTON CT. WESTERVILLE OH 43081 $124,023.40
600120740 MCKENDRY,DANIEL L. 294 S.W. 180TH AVENUE PEMPBROKE PINES FL 33029 $126,259.42
600120741 LEHRMAN,IVIS 540 GERONA AVENUE CORAL GABLES FL 33146 $128,055.75
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120728 VOLK,GLEN RICHARD 7.500 .250 7.250 .0500 7.200 11/01/2022
600120729 KUZARA,JOHN THOMAS 6.750 .250 6.500 .0500 6.450 06/01/2021
600120730 LI,WENCHING 8.625 .250 8.375 .0500 8.325 08/01/2024
600120731 HILLMAN,WILLIAM 7.100 .250 6.850 .0500 6.800 01/01/2024
600120732 DELANEY,STEVEN S. 7.750 .250 7.500 .0500 7.450 05/01/2020
600120733 CHALMERS,JEFFREY S. 7.750 .250 7.500 .0500 7.450 06/01/2022
600120734 VACCARO,CHRISTOPHER J. 7.250 .250 7.000 .0500 6.950 11/01/2022
600120735 MARTINEZ,HUMBERTO J. 7.100 .250 6.850 .0500 6.800 04/01/2024
600120736 BROOKS,WILLIAM M. 7.250 .250 7.000 .0500 6.950 09/01/2021
600120737 JASLOW,LANE A. 7.500 .250 7.250 .0500 7.200 10/01/2023
600120738 SWANSON,CHARLES A. 7.750 .250 7.500 .0500 7.450 06/01/2020
600120739 WONNELL,DANIEL WILLIAM 7.400 .250 7.150 .0500 7.100 10/01/2023
600120740 MCKENDRY,DANIEL L. 7.100 .250 6.850 .0500 6.800 12/01/2023
600120741 LEHRMAN,IVIS 7.100 .250 6.850 .0500 6.800 09/01/2022
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120728 VOLK,GLEN RICHARD 35410 $811.10 01/01/1998 360
600120729 KUZARA,JOHN THOMAS 26180 $776.62 2 01/01/1998 360
600120730 LI,WENCHING 43030 $890.58 01/01/1998 360
600120731 HILLMAN,WILLIAM 38580 $786.28 01/01/1998 360
600120732 DELANEY,STEVEN S. 23490 $879.10 01/01/1998 360
600120733 CHALMERS,JEFFREY S. 33230 $859.70 01/01/1998 360
600120734 VACCARO,CHRISTOPHER J. 35490 $852.73 2 01/01/1998 360
600120735 MARTINEZ,HUMBERTO J. 39160 $846.78 2 01/01/1998 360
600120736 BROOKS,WILLIAM M. 26200 $902.86 19 01/01/1998 360
600120737 JASLOW,LANE A. 37740 $906.20 01/01/1998 360
600120738 SWANSON,CHARLES A. 23520 $973.06 2 01/01/1998 360
600120739 WONNELL,DANIEL WILLIAM 37670 $902.18 01/01/1998 360
600120740 MCKENDRY,DANIEL L. 38420 $889.04 2 01/01/1998 360
600120741 LEHRMAN,IVIS 34000 $920.14 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120728 VOLK,GLEN RICHARD $145,000.00 N
600120729 KUZARA,JOHN THOMAS $132,000.00 N
600120730 LI,WENCHING $174,500.00 N
600120731 HILLMAN,WILLIAM $147,000.00 N
600120732 DELANEY,STEVEN S. $211,400.00 N
600120733 CHALMERS,JEFFREY S. $181,000.00 N
600120734 VACCARO,CHRISTOPHER J. $140,000.00 N
600120735 MARTINEZ,HUMBERTO J. $140,000.00 N
600120736 BROOKS,WILLIAM M. $146,500.00 N
600120737 JASLOW,LANE A. $162,000.00 N
600120738 SWANSON,CHARLES A. $150,000.00 N
600120739 WONNELL,DANIEL WILLIAM $184,000.00 N
600120740 MCKENDRY,DANIEL L. $152,000.00 N
600120741 LEHRMAN,IVIS $196,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 47
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120742 CABRERA,JUAN CARLOS 140 WYNNEWOOD DRIVE FREEHOLD NJ 07728 $131,763.28
600120743 GANDARILLAS,FRANCISCO J. 18550 S.W. 4TH STREET PEMBROKE PINES FL 33029 $132,278.33
600120744 SUSI,SALOMON 16458 N.E. 31 AVENUE NORTH MIAMI FL 33160 $132,241.28
600120745 HORSLEY,DAVID JAMES 428 W. CLAIRE COURT MERIDIAN ID 83642 $133,313.19
600120746 CHAREST,WILLIAM H. 591 S.W. 178 WAY PEMBROKE PINES FL 33029 $136,689.45
600120747 MIRANDA,JAY S. 13550 S.W. 119 STREET MIAMI FL 33186 $136,403.40
600120749 HILL,TIMOTHY K. 67 LONGMEADOW DRIVE TORRINGTON CT 06790 $136,215.97
600120750 CASEY,RAY H. 8821 NORTH LAKE DASHA DRI PLANTATION FL 33324 $137,012.11
600120751 JOHNSON,JOANNE M. 8320 JUMILLA AVENUE CANOGA PARK CA 91306 $137,688.26
600120752 BENNETT-PEAVEY,CYNTHIA 223 EAST HIGHLANDVIEW DRI BOISE ID 83702 $137,824.29
600120753 FINORA,ROSEMARY 1612 FERDINAND STREET CORAL GABLES FL 33134 $139,983.71
600120754 GRANT,CECILLE A. 538 SLIPPERY ROCK ROAD FORT LAURDERDAL FL 33327 $142,109.23
600120755 HIDALGO,JUAN J. 11225 SW 32 STREET MIAMI FL 33165 $141,526.63
600120756 KELLER,JAMES I. 1653 EASTLAKE WAY FT.LAUDERDALE FL 33326 $142,374.34
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120742 CABRERA,JUAN CARLOS 7.400 .250 7.150 .0500 7.100 07/01/2023
600120743 GANDARILLAS,FRANCISCO J. 7.900 .250 7.650 .0500 7.600 10/01/2025
600120744 SUSI,SALOMON 7.100 .250 6.850 .0500 6.800 04/01/2024
600120745 HORSLEY,DAVID JAMES 9.200 .250 8.950 .0500 8.900 01/01/2025
600120746 CHAREST,WILLIAM H. 8.900 .250 8.650 .0500 8.600 12/01/2024
600120747 MIRANDA,JAY S. 7.500 .250 7.250 .0500 7.200 03/01/2024
600120749 HILL,TIMOTHY K. 7.100 .250 6.850 .0500 6.800 12/01/2019
600120750 CASEY,RAY H. 7.750 .250 7.500 .0500 7.450 11/01/2016
600120751 JOHNSON,JOANNE M. 7.100 .250 6.850 .0500 6.800 11/01/2019
600120752 BENNETT-PEAVEY,CYNTHIA 8.250 .250 8.000 .0500 7.950 07/01/2022
600120753 FINORA,ROSEMARY 7.750 .250 7.500 .0500 7.450 10/01/2021
600120754 GRANT,CECILLE A. 8.750 .250 8.500 .0500 8.450 06/01/2025
600120755 HIDALGO,JUAN J. 6.750 .250 6.500 .0500 6.450 05/01/2023
600120756 KELLER,JAMES I. 7.750 .250 7.500 .0500 7.450 02/01/2023
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120742 CABRERA,JUAN CARLOS 37490 $959.64 2 01/01/1998 360
600120743 GANDARILLAS,FRANCISCO J. 51010 $981.19 01/01/1998 360
600120744 SUSI,SALOMON 39180 $927.41 01/01/1998 360
600120745 HORSLEY,DAVID JAMES 46240 $1,116.05 2 01/01/1998 360
600120746 CHAREST,WILLIAM H. 44890 $1,116.42 01/01/1998 360
600120747 MIRANDA,JAY S. 38990 $992.89 01/01/1998 360
600120749 HILL,TIMOTHY K. 19830 $1,022.70 2 01/01/1998 360
600120750 CASEY,RAY H. 12520 $1,154.34 01/01/1998 360
600120751 JOHNSON,JOANNE M. 19780 $1,035.44 01/01/1998 360
600120752 BENNETT-PEAVEY,CYNTHIA 33970 $1,098.74 01/01/1998 360
600120753 FINORA,ROSEMARY 27880 $1,075.86 01/01/1998 360
600120754 GRANT,CECILLE A. 47320 $1,141.66 01/01/1998 360
600120755 HIDALGO,JUAN J. 36930 $972.90 01/01/1998 360
600120756 KELLER,JAMES I. 36590 $1,074.62 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120742 CABRERA,JUAN CARLOS $154,000.00 N
600120743 GANDARILLAS,FRANCISCO J. $205,000.00 N
600120744 SUSI,SALOMON $445,000.00 N
600120745 HORSLEY,DAVID JAMES $151,400.00 N
600120746 CHAREST,WILLIAM H. $175,000.00 N
600120747 MIRANDA,JAY S. $200,000.00 N
600120749 HILL,TIMOTHY K. $180,000.00 N
600120750 CASEY,RAY H. $247,720.00 N
600120751 JOHNSON,JOANNE M. $210,000.00 N
600120752 BENNETT-PEAVEY,CYNTHIA $195,000.00 N
600120753 FINORA,ROSEMARY $300,000.00 N
600120754 GRANT,CECILLE A. $182,000.00 N
600120755 HIDALGO,JUAN J. $225,000.00 N
600120756 KELLER,JAMES I. $195,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 48
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120757 LUMPKINS,JOHN E. 10968 NW 3 COURT CORAL SPRINGS FL 33071 $142,482.96
600120758 ALTMAN,BRUCE I. 10220 SW 127 STREET MIAMI FL 33176 $143,119.46
600120759 FELINSKI,RONALD T. 14971 WINDBLUFF STREET DAVIE FL 33331 $144,158.07
600120760 SCHAUB,DAVID I. 15081 FEATHERSTONE WAY DAVIE FL 33331 $145,411.30
600120761 ROWE,JAMES G. 6951 S.W. 105 STREET MIAMI FL 33156 $150,000.58
600120762 BROWN,CHRISTOPHER M. 9401 NW 10 STREET PLANTATION FL 33322 $150,221.60
600120763 EDWARDS,MICHAEL J. 3240 SMOKEY RIDGE COURT CARMEL IN 46033 $148,386.81
600120764 KURI,YAMIL G. 414 DAROCO AVENUE CORAL GABLES FL 33146 $152,781.03
600120765 AMARAL,ALINA 8835 S.W. 60TH STREET MIAMI FL 33173 $153,556.40
600120766 PEREZ,CARMEN N. 10220 SW 58TH COURT MIAMI FL 33156 $155,803.42
600120767 ZOMERFELD,FRANK A. 16610 S.W. 77 CT. MIAMI FL 33157 $159,642.79
600120768 LEONARD,KATHLEEN ANN 9803 N.W. 30TH STREET MIAMI FL 33172 $162,978.17
600120769 SRITE,JAMES H. 472 NW 107 AVENUE CORAL SPRINGS FL 33071 $168,716.34
600120770 KOREAN,GEORGE N. 8615 DISA ALPINE WAY ELK GROVE CA 95624 $170,608.27
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120757 LUMPKINS,JOHN E. 8.500 .250 8.250 .0500 8.200 12/01/2021
600120758 ALTMAN,BRUCE I. 7.750 .250 7.500 .0500 7.450 05/01/2021
600120759 FELINSKI,RONALD T. 7.500 .250 7.250 .0500 7.200 10/01/2022
600120760 SCHAUB,DAVID I. 7.250 .250 7.000 .0500 6.950 05/01/2021
600120761 ROWE,JAMES G. 7.100 .250 6.850 .0500 6.800 01/01/2024
600120762 BROWN,CHRISTOPHER M. 7.750 .250 7.500 .0500 7.450 04/01/2022
600120763 EDWARDS,MICHAEL J. 8.000 .250 7.750 .0500 7.700 01/01/2018
600120764 KURI,YAMIL G. 7.100 .250 6.850 .0500 6.800 03/01/2024
600120765 AMARAL,ALINA 7.250 .250 7.000 .0500 6.950 06/01/2024
600120766 PEREZ,CARMEN N. 7.750 .250 7.500 .0500 7.450 11/01/2020
600120767 ZOMERFELD,FRANK A. 7.000 .250 6.750 .0500 6.700 12/01/2023
600120768 LEONARD,KATHLEEN ANN 8.400 .250 8.150 .0500 8.100 07/01/2025
600120769 SRITE,JAMES H. 7.250 .250 7.000 .0500 6.950 03/01/2020
600120770 KOREAN,GEORGE N. 8.500 .250 8.250 .0500 8.200 07/01/2024
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120757 LUMPKINS,JOHN E. 28010 $1,162.60 01/01/1998 360
600120758 ALTMAN,BRUCE I. 26030 $1,141.30 01/01/1998 360
600120759 FELINSKI,RONALD T. 35420 $1,069.80 19 01/01/1998 360
600120760 SCHAUB,DAVID I. 26060 $1,095.66 19 01/01/1998 360
600120761 ROWE,JAMES G. 38510 $1,055.10 01/01/1998 360
600120762 BROWN,CHRISTOPHER M. 32800 $1,146.26 01/01/1998 360
600120763 EDWARDS,MICHAEL J. 8180 $1,258.24 01/01/1998 360
600120764 KURI,YAMIL G. 39040 $1,072.57 01/01/1998 360
600120765 AMARAL,ALINA 40620 $1,091.50 01/01/1998 360
600120766 PEREZ,CARMEN N. 24860 $1,224.50 19 01/01/1998 360
600120767 ZOMERFELD,FRANK A. 38140 $1,113.72 19 01/01/1998 360
600120768 LEONARD,KATHLEEN ANN 47350 $1,267.70 2 01/01/1998 360
600120769 SRITE,JAMES H. 22780 $1,276.48 2 01/01/1998 315
600120770 KOREAN,GEORGE N. 42920 $1,351.96 2 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120757 LUMPKINS,JOHN E. $189,000.00 N
600120758 ALTMAN,BRUCE I. $200,356.00 N
600120759 FELINSKI,RONALD T. $170,000.00 N
600120760 SCHAUB,DAVID I. $177,500.00 N
600120761 ROWE,JAMES G. $250,000.00 N
600120762 BROWN,CHRISTOPHER M. $205,000.00 N
600120763 EDWARDS,MICHAEL J. $290,410.00 N
600120764 KURI,YAMIL G. $228,000.00 N
600120765 AMARAL,ALINA $220,000.00 N
600120766 PEREZ,CARMEN N. $195,640.00 N
600120767 ZOMERFELD,FRANK A. $186,000.00 N
600120768 LEONARD,KATHLEEN ANN $184,990.00 N
600120769 SRITE,JAMES H. $206,000.00 N
600120770 KOREAN,GEORGE N. $195,361.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 49
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120771 BIDWELL,MATTHEW S. 325 LEYCROFT COURT ALPHARETTA GA 30202 $174,392.78
600120772 ZAJAC,HELEN MARIE 27012 CARRANZA DRIVE MISSION VIEJO CA 92691 $174,802.95
600120773 ROSENBERG,ROSS 9640 WYOMING BLOOMINGTON MN 55438 $176,056.00
600120774 MEANS,BARBARA A. 1022 WEST WILDFLOWER COUR VERNON HILLS IL 60061 $177,959.71
600120775 KADLEC,GARY F. 8566 FINLARIG COURT DUBLIN OH 43017 $177,246.72
600120776 SHANDLEY,STEPHEN M. 20 GLEN GERY ROAD SHREWSBURY MA 01545 $180,097.13
600120777 GORLICK,MICHAEL 3 QUEBEC WOODS COURT MANALAPAN NJ 07726 $187,236.52
600120779 HOGAN,BRIAN FRANCIS 820 S.W. 150 TERRACE PENBROKE PINES FL 33027 $196,146.87
600120780 BROWN,JEFFREY A. 1291 LINDEN AVENUE HIGHLAND PARK IL 60035 $197,317.42
600120781 LAMOTT,THEODORE T. 13195 BISCAYNE ISLAND TER NORTH MIAMI FL 33181 $200,804.86
600120782 MCCORMICK,JEANNE E. 785 S. DEXTER AVENUE DELAND FL 32720 $42,812.27
600120783 BURNS,KATHLEEN ANN 3115 WEENONAH PLACE MINNEAPOLIS MN 55417 $53,556.83
600120784 TIEGS,THOMAS R. 11435 RIVERVIEW ROAD NE HANOVER MN 55341 $53,458.54
600120785 CABANAS,EDUARDO 13961 SW 11 STREET MIAMI FL 33184 $56,746.15
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120771 BIDWELL,MATTHEW S. 7.250 .250 7.000 .0500 6.950 12/01/2022
600120772 ZAJAC,HELEN MARIE 6.750 .250 6.500 .0500 6.450 05/01/2023
600120773 ROSENBERG,ROSS 7.400 .250 7.150 .0500 7.100 07/01/2023
600120774 MEANS,BARBARA A. 7.400 .250 7.150 .0500 7.100 07/01/2023
600120775 KADLEC,GARY F. 7.750 .250 7.500 .0500 7.450 11/01/2015
600120776 SHANDLEY,STEPHEN M. 7.250 .250 7.000 .0500 6.950 11/01/2021
600120777 GORLICK,MICHAEL 7.750 .250 7.500 .0500 7.450 05/01/2012
600120779 HOGAN,BRIAN FRANCIS 8.250 .250 8.000 .0500 7.950 06/01/2022
600120780 BROWN,JEFFREY A. 7.250 .250 7.000 .0500 6.950 06/01/2013
600120781 LAMOTT,THEODORE T. 7.250 .250 7.000 .0500 6.950 06/01/2023
600120782 MCCORMICK,JEANNE E. 7.400 .250 7.150 .0500 7.100 07/01/2023
600120783 BURNS,KATHLEEN ANN 7.750 .250 7.500 .0500 7.450 02/01/2019
600120784 TIEGS,THOMAS R. 7.750 .250 7.500 .0500 7.450 06/01/2018
600120785 CABANAS,EDUARDO 7.750 .250 7.500 .0500 7.450 11/01/2020
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120771 BIDWELL,MATTHEW S. 35590 $1,262.04 01/01/1998 360
600120772 ZAJAC,HELEN MARIE 36980 $1,206.40 01/01/1998 360
600120773 ROSENBERG,ROSS 37270 $1,280.92 01/01/1998 360
600120774 MEANS,BARBARA A. 37450 $1,294.76 01/01/1998 360
600120775 KADLEC,GARY F. 12760 $1,530.74 01/01/1998 360
600120776 SHANDLEY,STEPHEN M. 27970 $1,324.64 01/01/1998 360
600120777 GORLICK,MICHAEL 33210 $1,806.10 01/01/1998 360
600120779 HOGAN,BRIAN FRANCIS 33940 $1,557.78 01/01/1998 360
600120780 BROWN,JEFFREY A. 37130 $1,778.36 01/01/1998 360
600120781 LAMOTT,THEODORE T. 37260 $1,446.22 01/01/1998 360
600120782 MCCORMICK,JEANNE E. 37360 $311.58 01/01/1998 360
600120783 BURNS,KATHLEEN ANN 15030 $430.48 2 01/01/1998 360
600120784 TIEGS,THOMAS R. 11800 $442.00 2 01/01/1998 360
600120785 CABANAS,EDUARDO 24780 $445.76 01/01/1998 331
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120771 BIDWELL,MATTHEW S. $246,000.00 N
600120772 ZAJAC,HELEN MARIE $232,500.00 N
600120773 ROSENBERG,ROSS $347,500.00 N
600120774 MEANS,BARBARA A. $246,000.00 N
600120775 KADLEC,GARY F. $275,000.00 N
600120776 SHANDLEY,STEPHEN M. $241,800.00 N
600120777 GORLICK,MICHAEL $297,000.00 N
600120779 HOGAN,BRIAN FRANCIS $259,190.00 N
600120780 BROWN,JEFFREY A. $368,000.00 N
600120781 LAMOTT,THEODORE T. $265,000.00 N
600120782 MCCORMICK,JEANNE E. $60,000.00 N
600120783 BURNS,KATHLEEN ANN $66,000.00 N
600120784 TIEGS,THOMAS R. $68,000.00 N
600120785 CABANAS,EDUARDO $96,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 50
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120786 CROOKS,SONIA CECELIA 597 N.W. 49TH AVENUE PLANTATION FL 33317 $61,993.09
600120787 CATHERINE,PATRICIA S. 3721 SW 33 AVENUE HOLLYWOOD FL 33023 $62,157.95
600120788 KHAN,SHERAZ ALI 8875 SW 43TH TERRACE MIAMI FL 33165 $63,490.02
600120789 LYNCH,PEGGY ANNE 2830 N. LEWIS AVENUE WAUKEGAN IL 60085 $68,780.92
600120790 CHICKOREE,CHUCK 12200 SW 105 STREET MIAMI FL 33186 $80,164.12
600120791 ETIOPIO,KAREN M. 13004 S.W. 114TH COURT MIAMI FL 33176 $77,644.77
600120792 GIULIANI,LORENZO 14424 N. AGUILAR DRIVE FOUNTAIN HILLS AZ 85268 $85,217.07
600120793 HENRY,SOPHIA 8900 SW 176TH STREET MIAMI FL 33157 $88,509.79
600120794 SAMS,MALCOLM RANDOLPH 1490 HOLLOWFORK COVE GERMANTOWN TN 38138 $97,247.50
600120795 MOURING,MICHAEL C. 29300 SW 199TH AVENUE HOMESTEAD FL 33030 $98,296.57
600120796 HERRICK,GLENN W. 12410 S.W. 113 AVENUE MIAMI FL 33176 $110,223.08
600120797 WHITEKUS,JULIAN A. 850 S W 95TH TERRACE PEMBROKE PINES FL 33025 $111,887.31
600120798 CAMPANARO,JOSEPH A. 1363 NW 100 AVENUE CORAL SPRINGS FL 33071 $113,012.78
600120799 D'ARCY,ELENA 364 SW 183RD WAY PEMBROKE PINES FL 33029 $113,608.55
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120786 CROOKS,SONIA CECELIA 7.400 .250 7.150 .0500 7.100 09/01/2023
600120787 CATHERINE,PATRICIA S. 7.250 .250 7.000 .0500 6.950 11/01/2023
600120788 KHAN,SHERAZ ALI 7.250 .250 7.000 .0500 6.950 06/01/2018
600120789 LYNCH,PEGGY ANNE 7.250 .250 7.000 .0500 6.950 01/01/2023
600120790 CHICKOREE,CHUCK 7.250 .250 7.000 .0500 6.950 12/01/2022
600120791 ETIOPIO,KAREN M. 6.600 .250 6.350 .0500 6.300 11/01/2009
600120792 GIULIANI,LORENZO 8.250 .250 8.000 .0500 7.950 07/01/2022
600120793 HENRY,SOPHIA 6.750 .250 6.500 .0500 6.450 05/01/2023
600120794 SAMS,MALCOLM RANDOLPH 7.250 .250 7.000 .0500 6.950 01/01/2023
600120795 MOURING,MICHAEL C. 7.500 .250 7.250 .0500 7.200 06/01/2018
600120796 HERRICK,GLENN W. 7.750 .250 7.500 .0500 7.450 10/01/2019
600120797 WHITEKUS,JULIAN A. 7.500 .250 7.250 .0500 7.200 09/01/2022
600120798 CAMPANARO,JOSEPH A. 7.750 .250 7.500 .0500 7.450 03/01/2020
600120799 D'ARCY,ELENA 7.400 .250 7.150 .0500 7.100 07/01/2023
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120786 CROOKS,SONIA CECELIA 37850 $450.06 01/01/1998 360
600120787 CATHERINE,PATRICIA S. 37970 $444.18 19 01/01/1998 360
600120788 KHAN,SHERAZ ALI 9920 $498.12 01/01/1998 360
600120789 LYNCH,PEGGY ANNE 36510 $497.32 19 01/01/1998 360
600120790 CHICKOREE,CHUCK 35610 $583.96 01/01/1998 360
600120791 ETIOPIO,KAREN M. 18630 $804.74 01/01/1998 360
600120792 GIULIANI,LORENZO 33980 $676.14 01/01/1998 360
600120793 HENRY,SOPHIA 36990 $609.70 01/01/1998 360
600120794 SAMS,MALCOLM RANDOLPH 35820 $702.92 01/01/1998 360
600120795 MOURING,MICHAEL C. 9890 $784.92 01/01/1998 360
600120796 HERRICK,GLENN W. 17990 $874.88 19 01/01/1998 360
600120797 WHITEKUS,JULIAN A. 34690 $830.68 19 01/01/1998 360
600120798 CAMPANARO,JOSEPH A. 22730 $892.56 2 01/01/1998 360
600120799 D'ARCY,ELENA 37320 $827.40 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120786 CROOKS,SONIA CECELIA $86,500.00 N
600120787 CATHERINE,PATRICIA S. $71,250.00 N
600120788 KHAN,SHERAZ ALI $90,000.00 N
600120789 LYNCH,PEGGY ANNE $81,000.00 N
600120790 CHICKOREE,CHUCK $107,000.00 N
600120791 ETIOPIO,KAREN M. $139,000.00 N
600120792 GIULIANI,LORENZO $136,000.00 N
600120793 HENRY,SOPHIA $117,500.00 N
600120794 SAMS,MALCOLM RANDOLPH $128,800.00 N
600120795 MOURING,MICHAEL C. $139,000.00 N
600120796 HERRICK,GLENN W. $135,000.00 N
600120797 WHITEKUS,JULIAN A. $132,000.00 N
600120798 CAMPANARO,JOSEPH A. $145,000.00 N
600120799 D'ARCY,ELENA $149,497.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 51
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120800 STARR,EARL W. 16650 S.W. 77TH COURT MIAMI FL 33157 $113,782.96
600120801 SMITH,JOHN FRANCIS 9114 SUMMER GLEN LANE DALLAS TX 75243 $118,145.13
600120802 SCHULZE,MARGARET E 332 QUAKER HIGHWAY UXBRIDGE MA 01569 $127,778.16
600120803 MAUK,WILLIAM H. 10040 SW 141ST STREET MIAMI FL 33173 $135,112.45
600120804 BLAKE,ALEXANDRA I. 14721 PALMETTO PALM AV MIAMI LAKES FL 33014 $140,493.23
600120805 SMITH,MARIAN M. 7330 NORTH OAKMONT DRIVE MIAMI FL 33015 $143,573.06
600120807 PADRON,SHARON LYNN 955 N.W. 199 AVENUE PEMBROKE PINES FL 33029 $191,994.04
600120808 PUMA,PAUL D. 6341 GOLDEN STAR PLACE COLUMBIA MD 21044 $207,647.12
600120809 KELLEY,DAVID S. 1005 MARIANA AVENUE CORAL GABLES FL 33134 $211,142.36
600120810 KRASNER,THOMAS P. 261 189TH STREET GOLDEN SHORES FL 33160 $58,621.16
600120811 ALONSO,AILEEN 4753 SW 136 PLACE MIAMI FL 33175 $46,474.30
600120812 FAUCHER,ELLEN 501 RACQUET CLUB ROAD FT. LAUDERDALE FL 33326 $59,129.18
600120813 ZYGMUNTOWICZ,KATHERINE G. 11223 S.W. 132 COURT WEST MIAMI FL 33186 $63,380.23
600120814 SIMMONDS,JOHN H. 9311 FRENSHAM COURT LAUREL MD 20708 $118,917.26
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120800 STARR,EARL W. 7.750 .250 7.500 .0500 7.450 01/01/2017
600120801 SMITH,JOHN FRANCIS 9.000 .250 8.750 .0500 8.700 11/01/2015
600120802 SCHULZE,MARGARET E 7.625 .250 7.375 .0500 7.325 06/01/2016
600120803 MAUK,WILLIAM H. 7.750 .250 7.500 .0500 7.450 04/01/2016
600120804 BLAKE,ALEXANDRA I. 7.250 .250 7.000 .0500 6.950 06/01/2023
600120805 SMITH,MARIAN M. 8.250 .250 8.000 .0500 7.950 04/01/2022
600120807 PADRON,SHARON LYNN 7.400 .250 7.150 .0500 7.100 09/01/2023
600120808 PUMA,PAUL D. 7.400 .250 7.150 .0500 7.100 09/01/2023
600120809 KELLEY,DAVID S. 7.100 .250 6.850 .0500 6.800 05/01/2024
600120810 KRASNER,THOMAS P. 7.500 .250 7.250 .0500 7.200 12/15/2016
600120811 ALONSO,AILEEN 7.750 .250 7.500 .0500 7.450 04/01/2022
600120812 FAUCHER,ELLEN 7.250 .250 7.000 .0500 6.950 12/01/2022
600120813 ZYGMUNTOWICZ,KATHERINE G. 7.400 .250 7.150 .0500 7.100 07/01/2023
600120814 SIMMONDS,JOHN H. 7.250 .250 7.000 .0500 6.950 01/01/2023
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120800 STARR,EARL W. 13030 $977.06 01/01/1998 360
600120801 SMITH,JOHN FRANCIS 13000 $1,110.56 01/01/1998 360
600120802 SCHULZE,MARGARET E 12960 $1,077.76 18 01/01/1998 360
600120803 MAUK,WILLIAM H. 13230 $1,154.54 01/01/1998 360
600120804 BLAKE,ALEXANDRA I. 37010 $1,009.64 01/01/1998 360
600120805 SMITH,MARIAN M. 32920 $1,142.68 19 01/01/1998 360
600120807 PADRON,SHARON LYNN 37590 $1,394.12 01/01/1998 360
600120808 PUMA,PAUL D. 37610 $1,507.44 01/01/1998 360
600120809 KELLEY,DAVID S. 40520 $1,478.48 01/01/1998 360
600120810 KRASNER,THOMAS P. 13240 $497.12 01/01/1998 360
600120811 ALONSO,AILEEN 32860 $354.63 2 01/01/1998 360
600120812 FAUCHER,ELLEN 35660 $436.60 01/01/1998 360
600120813 ZYGMUNTOWICZ,KATHERINE G. 37330 $461.13 19 01/01/1998 360
600120814 SIMMONDS,JOHN H. 35850 $859.56 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120800 STARR,EARL W. $171,500.00 N
600120801 SMITH,JOHN FRANCIS $167,700.00 N
600120802 SCHULZE,MARGARET E $155,000.00 N
600120803 MAUK,WILLIAM H. $200,000.00 N
600120804 BLAKE,ALEXANDRA I. $185,000.00 N
600120805 SMITH,MARIAN M. $169,000.00 N
600120807 PADRON,SHARON LYNN $252,371.00 N
600120808 PUMA,PAUL D. $272,717.00 N
600120809 KELLEY,DAVID S. $325,000.00 N
600120810 KRASNER,THOMAS P. $78,000.00 N
600120811 ALONSO,AILEEN $55,000.00 N
600120812 FAUCHER,ELLEN $80,000.00 N
600120813 ZYGMUNTOWICZ,KATHERINE G. $74,000.00 N
600120814 SIMMONDS,JOHN H. $158,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 52
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120815 LATOUR,FELIPE 9455 WEST FLAGLER ST #30 MIAMI FL 33174 $21,897.36
600120816 DUGAN,DANA R. 7730 CAMINO REAL UNIT F MIAMI FL 33143 $29,101.01
600120817 ORTEGA,JUAN A. 17000 NW 67TH AVENUE APT MIAMI FL 33015 $37,844.36
600120818 SCHWARTZ,MAURICE 840 N.E. 199 ST. B-101 NORTH MIAMI FL 33179 $18,188.25
600120819 CHISHOLM,LAUNA L. 13790-3 S.W. 147 CIRCLE L MIAMI FL 33186 $46,969.39
600120820 PIWNICZKA,NATALIE J. 14293 SW 94 CIRCLE LANE MIAMI FL 33186 $68,091.11
600120821 PEARCE,DEBORAH A. C181 WINDING WOODS LOOP STATEN ISLAND NY 10307 $129,905.34
600120822 GERNER,MICHAEL G. 5800 OWNESMOUTH AVENUE, U WOODLANDS HILLS CA 91367 $173,958.51
600120823 ELBILIA,ALISON 15495 MIAMI LAKEWAY NORTH MIAMI FL 33014 $73,048.71
600120825 PUETT,ANGELA G. 1473 N.W. 124TH AVENUE PEMPBROKE PINES FL 33026 $64,177.56
600120827 MASSIE,STEVEN BLAIR 1821 S,W, 129TH TERRACE MIRAMAR FL 33027 $115,897.39
600120829 MURDOCH,CHRISTOPHER 11039 SW 154 PLACE MIAMI FL 33196 $49,085.05
600120831 RILEY,DEANNA BETH 11654 SW 91 TERRACE MIAMI FL 33176 $50,737.31
600120832 DIAMOND,EILEEN L. 12368 SW 51 COURT COOPER CITY FL 33330 $55,778.60
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120815 LATOUR,FELIPE 7.100 .250 6.850 .0500 6.800 09/01/2019
600120816 DUGAN,DANA R. 7.750 .250 7.500 .0500 7.450 01/01/2021
600120817 ORTEGA,JUAN A. 7.750 .250 7.500 .0500 7.450 02/01/2023
600120818 SCHWARTZ,MAURICE 7.100 .250 6.850 .0500 6.800 05/01/2024
600120819 CHISHOLM,LAUNA L. 7.750 .250 7.500 .0500 7.450 12/01/2019
600120820 PIWNICZKA,NATALIE J. 7.400 .250 7.150 .0500 7.100 07/01/2023
600120821 PEARCE,DEBORAH A. 9.000 .250 8.750 .0500 8.700 07/01/2018
600120822 GERNER,MICHAEL G. 7.400 .250 7.150 .0500 7.100 06/01/2019
600120823 ELBILIA,ALISON 7.250 .250 7.000 .0500 6.950 01/01/2023
600120825 PUETT,ANGELA G. 7.250 .250 7.000 .0500 6.950 01/01/2023
600120827 MASSIE,STEVEN BLAIR 7.250 .250 7.000 .0500 6.950 04/01/2023
600120829 MURDOCH,CHRISTOPHER 9.500 .250 9.250 .0500 9.200 04/01/2021
600120831 RILEY,DEANNA BETH 7.750 .250 7.500 .0500 7.450 03/01/2012
600120832 DIAMOND,EILEEN L. 7.500 .250 7.250 .0500 7.200 09/01/2021
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120815 LATOUR,FELIPE 17090 $170.36 01/01/1998 360
600120816 DUGAN,DANA R. 25360 $230.12 01/01/1998 360
600120817 ORTEGA,JUAN A. 36640 $286.58 01/01/1998 360
600120818 SCHWARTZ,MAURICE 40480 $302.42 01/01/1998 360
600120819 CHISHOLM,LAUNA L. 20340 $371.74 01/01/1998 360
600120820 PIWNICZKA,NATALIE J. 37310 $495.40 2 01/01/1998 360
600120821 PEARCE,DEBORAH A. 11830 $1,158.66 2 01/01/1998 360
600120822 GERNER,MICHAEL G. 16060 $1,351.06 01/01/1998 360
600120823 ELBILIA,ALISON 35810 $528.01 2 01/01/1998 360
600120825 PUETT,ANGELA G. 35800 $463.88 2 01/01/1998 360
600120827 MASSIE,STEVEN BLAIR 36910 $834.78 2 01/01/1998 360
600120829 MURDOCH,CHRISTOPHER 26010 $437.26 01/01/1998 360
600120831 RILEY,DEANNA BETH 32780 $492.58 01/01/1998 360
600120832 DIAMOND,EILEEN L. 24830 $424.70 19 01/01/1998 323
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120815 LATOUR,FELIPE $39,500.00 N
600120816 DUGAN,DANA R. $40,000.00 N
600120817 ORTEGA,JUAN A. $50,000.00 N
600120818 SCHWARTZ,MAURICE $67,000.00 N
600120819 CHISHOLM,LAUNA L. $64,500.00 N
600120820 PIWNICZKA,NATALIE J. $79,500.00 N
600120821 PEARCE,DEBORAH A. $165,000.00 N
600120822 GERNER,MICHAEL G. $255,000.00 N
600120823 ELBILIA,ALISON $86,000.00 N
600120825 PUETT,ANGELA G. $81,000.00 N
600120827 MASSIE,STEVEN BLAIR $135,969.00 N
600120829 MURDOCH,CHRISTOPHER $65,000.00 N
600120831 RILEY,DEANNA BETH $110,000.00 N
600120832 DIAMOND,EILEEN L. $67,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 53
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120833 ANDRADE,ARTURO M. 13233 SW 86 TERR MIAMI FL 33183 $56,316.33
600120834 SINGH,KRISENDATH 9610 SW 9TH COURT PEMBROKE PINES FL 33025 $60,211.39
600120835 BROWN,ROBERT H. 2371 NORTH 37 AVENUE 6-N HOLLYWOOD FL 33021 $67,565.52
600120836 SANCHEZ,GEORGE N. 510 FAIRFAX AVENUE DAVIE FL 33325 $68,868.48
600120837 DIAZ,RAYMOND 11226 SW 75TH TERRACE MIAMI FL 33173 $71,507.11
600120838 LANGHAUS,DAVID A. 10702 EDINBURGH STREET COOPER CITY FL 33026 $78,016.80
600120839 ALVAREZ,JACQUELINE 4604 S.W. 140 COURT MIAMI FL 33175 $79,677.64
600120840 JUDGE,JOHN W. 2620 SE 7TH PLACE HOMESTEAD FL 33033 $84,959.32
600120841 MORGAN,GERALD D. 705 CLEARBROOK PARK CIRCL DELRAY BEACH FL 33445 $87,881.33
600120842 HALL,HEATHER MARCELA 230 NW 197 AVENUE PEMBROKE PINES FL 33029 $87,573.74
600120843 LYN,LORRAINE D. 14750 SW 43 WAY MIAMI FL 33185 $88,983.59
600120844 UGALDE,ROSA I. 15725 SW 76 TERRACE MIAMI FL 33193 $91,731.33
600120845 SORIA,KATHY 10836 S.W. 75 STREET MIAMI FL 33173 $92,668.44
600120846 DORFMAN,PATRICIA G. 930 ALTAVISTA TERRACE DAVIE FL 33325 $99,292.42
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120833 ANDRADE,ARTURO M. 7.500 .250 7.250 .0500 7.200 06/01/2018
600120834 SINGH,KRISENDATH 7.750 .250 7.500 .0500 7.450 11/01/2018
600120835 BROWN,ROBERT H. 7.100 .250 6.850 .0500 6.800 05/01/2024
600120836 SANCHEZ,GEORGE N. 7.500 .250 7.250 .0500 7.200 02/01/2019
600120837 DIAZ,RAYMOND 7.500 .250 7.250 .0500 7.200 10/01/2018
600120838 LANGHAUS,DAVID A. 7.750 .250 7.500 .0500 7.450 05/01/2022
600120839 ALVAREZ,JACQUELINE 7.500 .250 7.250 .0500 7.200 09/01/2022
600120840 JUDGE,JOHN W. 7.750 .250 7.500 .0500 7.450 06/01/2020
600120841 MORGAN,GERALD D. 7.800 .250 7.550 .0500 7.500 05/01/2025
600120842 HALL,HEATHER MARCELA 7.250 .250 7.000 .0500 6.950 12/01/2022
600120843 LYN,LORRAINE D. 7.750 .250 7.500 .0500 7.450 02/01/2022
600120844 UGALDE,ROSA I. 7.000 .250 6.750 .0500 6.700 11/01/2023
600120845 SORIA,KATHY 7.300 .250 7.050 .0500 7.000 03/01/2024
600120846 DORFMAN,PATRICIA G. 8.750 .250 8.500 .0500 8.450 06/01/2018
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120833 ANDRADE,ARTURO M. 9910 $452.58 01/01/1998 360
600120834 SINGH,KRISENDATH 14170 $504.64 01/01/1998 360
600120835 BROWN,ROBERT H. 39370 $473.12 01/01/1998 360
600120836 SANCHEZ,GEORGE N. 14990 $552.14 01/01/1998 360
600120837 DIAZ,RAYMOND 13580 $575.58 01/01/1998 360
600120838 LANGHAUS,DAVID A. 33220 $594.64 01/01/1998 360
600120839 ALVAREZ,JACQUELINE 34580 $591.54 2 01/01/1998 360
600120840 JUDGE,JOHN W. 23570 $677.34 01/01/1998 360
600120841 MORGAN,GERALD D. 46690 $648.70 01/01/1998 360
600120842 HALL,HEATHER MARCELA 35630 $634.44 01/01/1998 360
600120843 LYN,LORRAINE D. 32630 $680.60 01/01/1998 360
600120844 UGALDE,ROSA I. 37940 $640.70 2 01/01/1998 360
600120845 SORIA,KATHY 39000 $671.94 2 01/01/1998 360
600120846 DORFMAN,PATRICIA G. 9860 $870.88 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120833 ANDRADE,ARTURO M. $80,000.00 N
600120834 SINGH,KRISENDATH $113,990.00 N
600120835 BROWN,ROBERT H. $88,000.00 N
600120836 SANCHEZ,GEORGE N. $97,400.00 N
600120837 DIAZ,RAYMOND $89,900.00 N
600120838 LANGHAUS,DAVID A. $159,000.00 N
600120839 ALVAREZ,JACQUELINE $94,000.00 N
600120840 JUDGE,JOHN W. $117,780.00 N
600120841 MORGAN,GERALD D. $149,000.00 N
600120842 HALL,HEATHER MARCELA $137,000.00 N
600120843 LYN,LORRAINE D. $160,000.00 N
600120844 UGALDE,ROSA I. $106,900.00 N
600120845 SORIA,KATHY $108,900.00 N
600120846 DORFMAN,PATRICIA G. $138,390.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 54
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120847 NUNES,DAVID C. C11725 S.W. 132 COURT MIAMI FL 33186 $100,431.51
600120848 HAMILTON,DANIEL J. 1001 NW 173 AVENUE PEMBROKE PINES FL 33029 $103,155.76
600120849 BERNAL,ISIDRO 11460 S.W. 74 TERRACE MIAMI FL 33173 $103,652.19
600120850 DIMITRAKIS,GABRIELLE 2015 NW 183RD TERRACE PEMBROKE PINES FL 33029 $108,127.86
600120851 PRESS,LAWRENCE J. 16694 S.W. 5TH WAY FT. LAUDERDALE FL 33326 $119,852.27
600120852 KING-HARRISON,LAUREL L. 16021 S.W. 104 TERRACE MIAMI FL 33196 $120,636.22
600120853 YAVER,EUGENE 1382 NW 127 DRIVE SUNRISE FL 33323 $123,640.06
600120854 THOMAS,MYRON 10070 N.W. 3RD STREET PLANTATION FL 33324 $127,913.20
600120855 SERRANO,PATRICK FAUSTO 17820 S.W. 4TH COURT PEMBROKE PINES FL 33029 $132,195.26
600120856 DIPALMO,KAREN A. 6852 EAST LONG BOW BEND DAVIE FL 33331 $133,980.37
600120857 BAKER,EDWIN GLENN 1174 NW 183RD TERRACE PEMBROKE PINES FL 33029 $143,012.10
600120858 GREEN,RUSSELL E. 18125 SE FAIRVIEW CIRCLE TEQUESTA FL 33469 $149,181.91
600120859 NEGRON,RENE A. 10446 N.W. 46 STREET MIAMI FL 33178 $152,712.96
600120860 HICKS,ERIC R. 14732 SW 46TH LANE MIAMI FL 33185 $151,485.65
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120847 NUNES,DAVID C. 9.000 .250 8.750 .0500 8.700 07/01/2024
600120848 HAMILTON,DANIEL J. 7.750 .250 7.500 .0500 7.450 03/01/2022
600120849 BERNAL,ISIDRO 7.100 .250 6.850 .0500 6.800 05/01/2024
600120850 DIMITRAKIS,GABRIELLE 7.250 .250 7.000 .0500 6.950 03/01/2023
600120851 PRESS,LAWRENCE J. 7.250 .250 7.000 .0500 6.950 11/01/2023
600120852 KING-HARRISON,LAUREL L. 8.750 .250 8.500 .0500 8.450 07/01/2025
600120853 YAVER,EUGENE 7.750 .250 7.500 .0500 7.450 02/01/2022
600120854 THOMAS,MYRON 7.400 .250 7.150 .0500 7.100 07/01/2023
600120855 SERRANO,PATRICK FAUSTO 7.250 .250 7.000 .0500 6.950 06/01/2023
600120856 DIPALMO,KAREN A. 7.750 .250 7.500 .0500 7.450 05/01/2019
600120857 BAKER,EDWIN GLENN 6.750 .250 6.500 .0500 6.450 04/01/2023
600120858 GREEN,RUSSELL E. 7.750 .250 7.500 .0500 7.450 06/01/2020
600120859 NEGRON,RENE A. 7.250 .250 7.000 .0500 6.950 05/01/2024
600120860 HICKS,ERIC R. 8.250 .250 8.000 .0500 7.950 06/01/2022
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120847 NUNES,DAVID C. 43050 $830.38 01/01/1998 360
600120848 HAMILTON,DANIEL J. 32750 $788.06 01/01/1998 360
600120849 BERNAL,ISIDRO 40460 $725.80 19 01/01/1998 360
600120850 DIMITRAKIS,GABRIELLE 36770 $779.74 2 01/01/1998 360
600120851 PRESS,LAWRENCE J. 37880 $856.48 2 01/01/1998 360
600120852 KING-HARRISON,LAUREL L. 47360 $967.65 2 01/01/1998 360
600120853 YAVER,EUGENE 32460 $945.68 01/01/1998 360
600120854 THOMAS,MYRON 37460 $930.64 19 01/01/1998 360
600120855 SERRANO,PATRICK FAUSTO 37170 $997.43 01/01/1998 360
600120856 DIPALMO,KAREN A. 15520 $1,071.50 01/01/1998 360
600120857 BAKER,EDWIN GLENN 36830 $985.24 01/01/1998 360
600120858 GREEN,RUSSELL E. 23580 $1,204.44 01/01/1998 360
600120859 NEGRON,RENE A. 40450 $1,105.13 01/01/1998 360
600120860 HICKS,ERIC R. 33990 $1,555.14 2 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120847 NUNES,DAVID C. $129,000.00 N
600120848 HAMILTON,DANIEL J. $138,900.00 N
600120849 BERNAL,ISIDRO $117,000.00 N
600120850 DIMITRAKIS,GABRIELLE $127,000.00 N
600120851 PRESS,LAWRENCE J. $139,500.00 N
600120852 KING-HARRISON,LAUREL L. $137,000.00 N
600120853 YAVER,EUGENE $146,500.00 N
600120854 THOMAS,MYRON $149,346.00 N
600120855 SERRANO,PATRICK FAUSTO $173,916.00 N
600120856 DIPALMO,KAREN A. $185,000.00 N
600120857 BAKER,EDWIN GLENN $189,913.00 N
600120858 GREEN,RUSSELL E. $208,875.00 N
600120859 NEGRON,RENE A. $280,000.00 N
600120860 HICKS,ERIC R. $220,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 55
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120861 EPES, III,CAMPBELL F. 1541 E. OAK KNOLL CIRC FT. LAUDERDALE FL 33324 $166,010.27
600120863 WILLS,DONNA M. 9327 NW 50 DORAL CIRCLE, MIAMI FL 33178 $177,133.69
600120864 REYNOLDS,DAVID L. 27342 CELANOVA MISSION VIEJO CA 92692 $205,226.38
600120865 MECHLIN-LEVITT,ELLEN 2911 N.W. 28TH TERRACE BOCA RATON FL 33434 $208,564.49
600120866 RENO,DEBORAH A. 14324 SW 97TH TERRACE MIAMI FL 33186 $36,269.67
600120867 DE FREITAS,SUSAN 11724 S.W. 123RD AVENUE MIAMI FL 33186 $53,831.04
600120868 HOLLAND,JAMES 6211 PLYMOUTH LANE DAVIE FL 33331 $66,467.63
600120869 CHIN,FRANKLIN 9511 SW 151 COURT MIAMI FL 33196 $71,441.59
600120870 O'NEIL,NILES C. 10282 S.W. 55 LANE COOPER CITY FL 33328 $88,028.16
600120871 MCCOMMON,DANIEL N. 17607 S.W. 20TH STREET MIRAMAR FL 33029 $102,076.35
600120872 QUILICI,FRANK R. 9336 NESBITT ROAD BLOOMINGTON MN 55437 $112,582.34
600120873 REEG,WILLIAM R. 2731 BROOKSIDE LANE MCKINNEY TX 75070 $191,002.60
600120874 PRUESS,PAUL J. 10101 COLLINS AVENUE UNIT BAL HARBOUR FL 33154 $68,011.78
600120877 LANNING,JEFFREY 16 MANNING COURT HIGH BRIDGE NJ 08829 $200,654.67
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120861 EPES, III,CAMPBELL F. 6.750 .250 6.500 .0500 6.450 05/01/2023
600120863 WILLS,DONNA M. 8.875 .250 8.625 .0500 8.575 08/01/2024
600120864 REYNOLDS,DAVID L. 7.100 .250 6.850 .0500 6.800 04/01/2024
600120865 MECHLIN-LEVITT,ELLEN 8.750 .250 8.500 .0500 8.450 06/01/2025
600120866 RENO,DEBORAH A. 7.750 .250 7.500 .0500 7.450 08/01/2016
600120867 DE FREITAS,SUSAN 7.300 .250 7.050 .0500 7.000 05/01/2024
600120868 HOLLAND,JAMES 7.750 .250 7.500 .0500 7.450 07/01/2018
600120869 CHIN,FRANKLIN 7.500 .250 7.250 .0500 7.200 08/01/2018
600120870 O'NEIL,NILES C. 7.875 .250 7.625 .0500 7.575 08/01/2025
600120871 MCCOMMON,DANIEL N. 9.400 .250 9.150 .0500 9.100 02/01/2025
600120872 QUILICI,FRANK R. 7.250 .250 7.000 .0500 6.950 04/01/2018
600120873 REEG,WILLIAM R. 7.250 .250 7.000 .0500 6.950 12/01/2024
600120874 PRUESS,PAUL J. 7.875 .250 7.625 .0500 7.575 11/01/2024
600120877 LANNING,JEFFREY 7.625 .250 7.375 .0400 7.335 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>
600120861 EPES, III,CAMPBELL F. 36970 $1,141.22 2 01/01/1998 360
600120863 WILLS,DONNA M. 43090 $1,448.08 01/01/1998 360
600120864 REYNOLDS,DAVID L. 39270 $1,440.84 01/01/1998 360
600120865 MECHLIN-LEVITT,ELLEN 47200 $1,691.42 01/01/1998 360
600120866 RENO,DEBORAH A. 12910 $326.42 01/01/1998 360
600120867 DE FREITAS,SUSAN 39380 $383.92 01/01/1998 360
600120868 HOLLAND,JAMES 11930 $540.14 2 01/01/1998 360
600120869 CHIN,FRANKLIN 11950 $568.54 01/01/1998 360
600120870 O'NEIL,NILES C. 47400 $652.58 01/01/1998 360
600120871 MCCOMMON,DANIEL N. 46250 $868.58 2 01/01/1998 360
600120872 QUILICI,FRANK R. 9330 $885.32 01/01/1998 360
600120873 REEG,WILLIAM R. 44980 $1,374.59 12 01/01/1998 360
600120874 PRUESS,PAUL J. 44950 $508.18 01/01/1998 360
600120877 LANNING,JEFFREY 1101217771 $1,421.25 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120861 EPES, III,CAMPBELL F. $195,500.00 N
600120863 WILLS,DONNA M. $227,500.00 N
600120864 REYNOLDS,DAVID L. $268,000.00 N
600120865 MECHLIN-LEVITT,ELLEN $275,000.00 N
600120866 RENO,DEBORAH A. $74,900.00 N
600120867 DE FREITAS,SUSAN $70,400.00 N
600120868 HOLLAND,JAMES $82,900.00 N
600120869 CHIN,FRANKLIN $110,000.00 N
600120870 O'NEIL,NILES C. $185,000.00 N
600120871 MCCOMMON,DANIEL N. $115,799.00 N
600120872 QUILICI,FRANK R. $160,000.00 N
600120873 REEG,WILLIAM R. $224,400.00 N
600120874 PRUESS,PAUL J. $557,025.00 N
600120877 LANNING,JEFFREY $251,092.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 56
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120900 BLODGETT,DAVID 1845 DORAN RD LIMA NY 14485 $124,016.11
600120902 GARLAND,DAVID 265 PINEBROOK DR ROCHESTER NY 14616 $144,897.66
600120906 PHILLIPS,WILLIAM 434 PELHAMDALE AVE PELHAM MANOR NY 10803 $165,094.65
600120911 WILKINS,SANDRA 93 WALNUT HILL RD BETHEL CT 06801 $79,947.67
600120915 KATOUCHIS,STAVROS ACADEMY ST EXT FIRE SB MARGARETVILLE NY 12455 $16,240.15
600120918 PETTIS,BETTY 07020 SPRINGDALE RD BOYNE FALLS MI 49713 $59,811.84
600120919 TODD,AARON 79 LAWRENCE AVENUE HIGHLAND PARK NJ 08904 $175,878.88
600120927 HASSE,CRAIG 11354 VULCAN AVENUE WARREN MI 48089 $79,862.06
600120933 CONNELLY,MICHAEL 2124 W MESQUITE ST CHANDLER AZ 85224 $165,365.49
600120934 VIEYRA,SERGIO 2120 3RD ST SANTA MONICA CA 90405 $153,885.71
600120968 CROCKER,BERTRAM 311 ELLAMAR ROAD WEST PALM BEACH FL 33405 $89,191.62
600120969 FARROW,DONNA 8285 SW 139 TERRACE MIAMI FL 33158 $99,929.42
600120996 DICKSON,KIP 13741 PHILADELPHIA STR WHITTIER CA 90601 $187,863.93
600120997 STARKEY,CARL 555 COBBLESTONE LANE MANTECA CA 95336 $129,508.53
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120900 BLODGETT,DAVID 8.375 .250 8.125 .0400 8.085 12/01/2027
600120902 GARLAND,DAVID 7.750 .250 7.500 .0400 7.460 12/01/2027
600120906 PHILLIPS,WILLIAM 8.250 .250 8.000 .0400 7.960 12/01/2027
600120911 WILKINS,SANDRA 8.125 .250 7.875 .0400 7.835 12/01/2027
600120915 KATOUCHIS,STAVROS 8.500 .250 8.250 .0400 8.210 12/01/2027
600120918 PETTIS,BETTY 8.250 .250 8.000 .0400 7.960 12/01/2027
600120919 TODD,AARON 7.875 .250 7.625 .0400 7.585 12/01/2027
600120927 HASSE,CRAIG 7.875 .250 7.625 .0400 7.585 12/01/2017
600120933 CONNELLY,MICHAEL 7.750 .250 7.500 .0400 7.460 11/01/2027
600120934 VIEYRA,SERGIO 7.500 .250 7.250 .0400 7.210 12/01/2027
600120968 CROCKER,BERTRAM 8.125 .250 7.875 .0400 7.835 12/01/2027
600120969 FARROW,DONNA 7.750 .250 7.500 .0400 7.460 12/01/2027
600120996 DICKSON,KIP 7.625 .250 7.375 .0400 7.335 12/01/2027
600120997 STARKEY,CARL 7.750 .250 7.500 .0400 7.460 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>
600120900 BLODGETT,DAVID 1107025886 $943.25 01/01/1998 360
600120902 GARLAND,DAVID 1107029060 $1,038.80 01/01/1998 360
600120906 PHILLIPS,WILLIAM 1111119983 $1,241.10 01/01/1998 360
600120911 WILKINS,SANDRA 1111138977 $594.00 01/01/1998 360
600120915 KATOUCHIS,STAVROS 1111142770 $124.95 01/01/1998 360
600120918 PETTIS,BETTY 1113063904 $449.63 01/01/1998 360
600120919 TODD,AARON 1113064066 $1,276.12 01/01/1998 360
600120927 HASSE,CRAIG 1114027190 $662.94 01/01/1998 240
600120933 CONNELLY,MICHAEL 1204008463 $1,186.38 01/01/1998 360
600120934 VIEYRA,SERGIO 1230011374 $1,076.79 01/01/1998 360
600120968 CROCKER,BERTRAM 1303018747 $662.68 01/01/1998 360
600120969 FARROW,DONNA 1311308232 $716.41 01/01/1998 360
600120996 DICKSON,KIP 1485005374 $1,330.65 01/01/1998 360
600120997 STARKEY,CARL 1485007154 $928.47 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120900 BLODGETT,DAVID $165,500.00 N
600120902 GARLAND,DAVID $210,000.00 N
600120906 PHILLIPS,WILLIAM $236,000.00 N
600120911 WILKINS,SANDRA $270,000.00 N
600120915 KATOUCHIS,STAVROS $25,000.00 N
600120918 PETTIS,BETTY $77,000.00 N
600120919 TODD,AARON $220,000.00 N
600120927 HASSE,CRAIG $100,000.00 N
600120933 CONNELLY,MICHAEL $207,000.00 N
600120934 VIEYRA,SERGIO $260,000.00 N
600120968 CROCKER,BERTRAM $119,000.00 N
600120969 FARROW,DONNA $190,000.00 N
600120996 DICKSON,KIP $236,000.00 N
600120997 STARKEY,CARL $162,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 57
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121005 RUSSELL,JAMES 210 BUENA VISTA AVE SANTA CRUZ CA 95062 $207,042.34
600121018 HENRY,CHAD 13270 S FOREST MEADOW RIVERTON UT 84065 $159,062.93
600121022 ZIMMER,EDWARD 142 NATURES LN MILLER PLACE NY 11764 $134,730.89
600121024 MORELLA,VICTOR 110 24TH AVENUE ELK TOWNSHIP NJ 08343 $167,749.86
600121025 DIVIESTI,ANTHONY 21 SHARON LN MARLBOROUGH NY 12542 $85,396.04
600121026 MEYERS,LESLIE 1966 LOWELL LANE MERRICK NY 11566 $183,469.50
600121029 FAWCETT,SCOTT 49 MARVA LANE STAMFORD CT 06903 $193,711.14
600121031 KENYON,SCOTT 5 DUNHAM RD WEST MILFORD NJ 07421 $125,870.78
600121041 YAGEN,ELDAD 294 AMSTERDAM AVE BRIDGEPORT CT 06606 $95,867.43
600121042 O,SULLIVAN 456 BEACH 127TH STRE BELLE HARBOR NY 11694 $191,734.87
600121043 DIBELLA,CAROLYN 183 BRITTLE LN HICKSVILLE NY 11801 $106,931.77
600121049 TRUESDELL,CHARLES 274 76 NEW MILFORD TPKE WASHINGTON CT 06777 $139,910.72
600121054 LERMAN,MARTIN 33 PINE GROVE ST WOODSTOCK NY 12498 $59,963.65
600121056 BORDELON,SAMUEL 13569 RIVERLAKE DR COVINGTON LA 70435 $132,829.79
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121005 RUSSELL,JAMES 7.375 .250 7.125 .0400 7.085 12/01/2027
600121018 HENRY,CHAD 6.750 .250 6.500 .0400 6.460 12/01/2027
600121022 ZIMMER,EDWARD 8.375 .250 8.125 .0400 8.085 11/01/2027
600121024 MORELLA,VICTOR 7.500 .250 7.250 .0400 7.210 11/01/2027
600121025 DIVIESTI,ANTHONY 8.500 .250 8.250 .0400 8.210 11/01/2027
600121026 MEYERS,LESLIE 7.375 .250 7.125 .0400 7.085 11/01/2027
600121029 FAWCETT,SCOTT 7.500 .250 7.250 .0400 7.210 11/01/2027
600121031 KENYON,SCOTT 7.750 .250 7.500 .0400 7.460 11/01/2027
600121041 YAGEN,ELDAD 7.875 .250 7.625 .0400 7.585 11/01/2027
600121042 O,SULLIVAN 7.875 .250 7.625 .0400 7.585 11/01/2027
600121043 DIBELLA,CAROLYN 8.250 .250 8.000 .0400 7.960 12/01/2027
600121049 TRUESDELL,CHARLES 8.250 .250 8.000 .0400 7.960 12/01/2027
600121054 LERMAN,MARTIN 8.500 .250 8.250 .0400 8.210 12/01/2027
600121056 BORDELON,SAMUEL 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>
600121005 RUSSELL,JAMES 1489010401 $1,431.08 01/01/1998 360
600121018 HENRY,CHAD 1497017461 $1,032.57 01/01/1998 360
600121022 ZIMMER,EDWARD 1500343450 $1,026.10 01/01/1998 360
600121024 MORELLA,VICTOR 1500371015 $1,174.68 01/01/1998 360
600121025 DIVIESTI,ANTHONY 1500372572 $657.42 01/01/1998 360
600121026 MEYERS,LESLIE 1500372903 $1,269.12 01/01/1998 360
600121029 FAWCETT,SCOTT 1500386090 $1,356.48 01/01/1998 360
600121031 KENYON,SCOTT 1500388721 $905.55 01/01/1998 360
600121041 YAGEN,ELDAD 1500399025 $696.07 01/01/1998 360
600121042 O,SULLIVAN 1500399058 $1,392.13 01/01/1998 360
600121043 DIBELLA,CAROLYN 1500399772 $803.86 01/01/1998 360
600121049 TRUESDELL,CHARLES 1500401568 $1,051.77 01/01/1998 360
600121054 LERMAN,MARTIN 1500407892 $461.35 01/01/1998 360
600121056 BORDELON,SAMUEL 1504167757 $999.19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121005 RUSSELL,JAMES $259,000.00 N
600121018 HENRY,CHAD $199,000.00 N
600121022 ZIMMER,EDWARD $190,600.00 N
600121024 MORELLA,VICTOR $210,000.00 N
600121025 DIVIESTI,ANTHONY $175,000.00 N
600121026 MEYERS,LESLIE $245,000.00 N
600121029 FAWCETT,SCOTT $260,000.00 N
600121031 KENYON,SCOTT $158,000.00 N
600121041 YAGEN,ELDAD $120,000.00 N
600121042 O,SULLIVAN $241,000.00 N
600121043 DIBELLA,CAROLYN $177,000.00 N
600121049 TRUESDELL,CHARLES $175,000.00 N
600121054 LERMAN,MARTIN $100,000.00 N
600121056 BORDELON,SAMUEL $190,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 58
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121058 JOHNSON,RONNIE 15303 SEWARD PLAZA OMAHA NE 68154 $74,945.71
600121070 DORMAN,GREG 17690 ROLLING HILLS BL JAMESTOWN CA 95327 $103,789.24
600121088 MOUNTAIN,STEVE 422 WEST PADRE ST SANTA BARBARA CA 93105 $199,730.71
600121090 NOWELL,RONALD 5044 N MARJAN AVE CLOVIS CA 93611 $175,763.02
600121120 CHUNG,GIN 23351 BATEY AVE HARBOR CITY CA 90710 $179,751.45
600121129 BUTLER,MARK 1593 N BRIDGET AVE SIMI VALLEY CA 93065 $167,756.03
600121146 HASSON,TED 5607 VENTNOR AVENUE VENTNOR NJ 08406 $205,788.99
600121149 WILLIAMS,ANN 20559 LEXINGTON REDFORD MI 48239 $53,911.85
600121150 KRAEMER,BRAD 6101 WESTVIEW DRIVE GRAND BLANC MI 48439 $115,759.85
600121165 PRIDDY,RICKEY 8234 N PORT WASHINGTO FOX POINT WI 53217 $107,021.59
600121167 MACDONNELL,SHAWN 16568 S GATEHOUSE DR WOODHAVEN MI 48183 $119,921.50
600121168 BOWMAN,NORMAN 2205 N WOLFSNARE DRIV VIRGINIA BEACH VA 23454 $107,847.05
600121175 CATANIA,SALVATORE 1977 S IDAHO ST ALLENTOWN PA 18103 $39,548.71
600121176 CONGER,RANDALL 3024 BURNT MILL RD CHARLOTTE NC 28210 $102,968.05
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121058 JOHNSON,RONNIE 7.625 .250 7.375 .0400 7.335 12/01/2027
600121070 DORMAN,GREG 8.000 .250 7.750 .0400 7.710 10/01/2027
600121088 MOUNTAIN,STEVE 8.000 .250 7.750 .0400 7.710 11/01/2027
600121090 NOWELL,RONALD 8.000 .250 7.750 .0400 7.710 11/01/2027
600121120 CHUNG,GIN 7.875 .250 7.625 .0400 7.585 11/01/2027
600121129 BUTLER,MARK 7.625 .250 7.375 .0400 7.335 11/01/2027
600121146 HASSON,TED 7.625 .250 7.375 .0400 7.335 12/01/2027
600121149 WILLIAMS,ANN 7.875 .250 7.625 .0400 7.585 11/01/2027
600121150 KRAEMER,BRAD 8.000 .250 7.750 .0400 7.710 10/01/2027
600121165 PRIDDY,RICKEY 8.250 .250 8.000 .0400 7.960 11/01/2027
600121167 MACDONNELL,SHAWN 8.125 .250 7.875 .0400 7.835 12/01/2027
600121168 BOWMAN,NORMAN 7.750 .250 7.500 .0400 7.460 11/01/2027
600121175 CATANIA,SALVATORE 8.375 .250 8.125 .0400 8.085 11/01/2027
600121176 CONGER,RANDALL 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>
600121058 JOHNSON,RONNIE 1504170729 $530.85 01/01/1998 360
600121070 DORMAN,GREG 1506328857 $763.12 01/01/1998 360
600121088 MOUNTAIN,STEVE 1506353504 $1,467.53 01/01/1998 360
600121090 NOWELL,RONALD 1506353720 $1,291.43 01/01/1998 360
600121120 CHUNG,GIN 1506368556 $1,305.12 01/01/1998 360
600121129 BUTLER,MARK 1506370955 $1,189.10 01/01/1998 360
600121146 HASSON,TED 1507316616 $1,459.83 01/01/1998 360
600121149 WILLIAMS,ANN 1507320996 $391.54 01/01/1998 360
600121150 KRAEMER,BRAD 1507321900 $851.17 01/01/1998 360
600121165 PRIDDY,RICKEY 1507333400 $811.37 01/01/1998 360
600121167 MACDONNELL,SHAWN 1507335916 $891.00 01/01/1998 360
600121168 BOWMAN,NORMAN 1507336770 $773.73 01/01/1998 360
600121175 CATANIA,SALVATORE 1507341067 $304.03 01/01/1998 360
600121176 CONGER,RANDALL 1507342081 $774.56 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121058 JOHNSON,RONNIE $111,000.00 N
600121070 DORMAN,GREG $130,000.00 N
600121088 MOUNTAIN,STEVE $250,000.00 N
600121090 NOWELL,RONALD $220,000.00 N
600121120 CHUNG,GIN $225,000.00 N
600121129 BUTLER,MARK $215,000.00 N
600121146 HASSON,TED $275,000.00 N
600121149 WILLIAMS,ANN $72,000.00 N
600121150 KRAEMER,BRAD $145,000.00 N
600121165 PRIDDY,RICKEY $158,000.00 N
600121167 MACDONNELL,SHAWN $150,000.00 N
600121168 BOWMAN,NORMAN $135,000.00 N
600121175 CATANIA,SALVATORE $50,000.00 N
600121176 CONGER,RANDALL $137,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 59
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121178 POULOS,STEVE 5521 ELSINORE PLACE CHARLOTTE NC 28227 $72,896.77
600121195 MEADORS,MICHAEL 121 HIGH STREET SOUT LAKE MARY FL 32746 $159,795.24
600121198 FOX,JAMES 965 GLENMEADOW DR WINTER GARDEN FL 34787 $76,688.47
600121202 LOCKETT,LEROY 616 SARITA ST SANFORD FL 32771 $43,699.37
600121203 MEAGHER,SHANNON 3312 ENTERPRISE RD E SAFETY HARBOR FL 34695 $59,917.15
600121209 STREET,TERRY 1922 MT ZION RD OXFORD GA 30054 $135,899.06
600121211 OBERLE,DAVID 129 S BOWMAN AVE HOLYOKE CO 80734 $54,929.61
600121220 SEGAL,JESSICA 5318 E MARCONI AVE SCOTTSDALE AZ 85254 $99,687.02
600121229 BENSON,PAUL 415 OAK ST WOODBURN OR 97071 $115,693.37
600121232 BECK,ROBERT 4384 WEST 4425 SOUTH WEST HAVEN UT 84315 $149,792.88
600121236 KEARL,PETER 2263 KINGSTON ROAD GRAND JUNCTION CO 81503 $107,044.34
600121264 WILLIAMS,GARY 4722 SOUTH 3RD AVE EVERETT WA 98203 $90,871.12
600121266 OLMSTED,DONALD 975 SWAN RIVER ROAD BIGFORK MT 59911 $83,886.90
600121267 PRONTO,GREGREY 3706 RED BLUFF LN GLENWOOD SPRING CO 81601 $137,512.25
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121178 POULOS,STEVE 7.875 .250 7.625 .0400 7.585 09/01/2027
600121195 MEADORS,MICHAEL 8.250 .250 8.000 .0400 7.960 11/01/2027
600121198 FOX,JAMES 7.625 .250 7.375 .0400 7.335 11/01/2027
600121202 LOCKETT,LEROY 7.875 .250 7.625 .0400 7.585 11/01/2027
600121203 MEAGHER,SHANNON 7.875 .250 7.625 .0400 7.585 11/01/2027
600121209 STREET,TERRY 7.500 .250 7.250 .0400 7.210 12/01/2027
600121211 OBERLE,DAVID 8.250 .250 8.000 .0400 7.960 11/01/2027
600121220 SEGAL,JESSICA 7.875 .250 7.625 .0400 7.585 11/01/2027
600121229 BENSON,PAUL 8.125 .250 7.875 .0400 7.835 09/01/2027
600121232 BECK,ROBERT 7.875 .250 7.625 .0400 7.585 11/01/2027
600121236 KEARL,PETER 7.625 .250 7.375 .0400 7.335 11/01/2027
600121264 WILLIAMS,GARY 7.750 .250 7.500 .0400 7.460 11/01/2027
600121266 OLMSTED,DONALD 8.000 .250 7.750 .0400 7.710 11/01/2027
600121267 PRONTO,GREGREY 8.250 .250 8.000 .0400 7.960 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>
600121178 POULOS,STEVE 1511173750 $530.03 01/01/1998 360
600121195 MEADORS,MICHAEL 1511197317 $1,202.03 01/01/1998 360
600121198 FOX,JAMES 1511198987 $543.59 01/01/1998 360
600121202 LOCKETT,LEROY 1511202927 $319.03 01/01/1998 360
600121203 MEAGHER,SHANNON 1511204037 $435.04 01/01/1998 360
600121209 STREET,TERRY 1511211586 $950.94 01/01/1998 360
600121211 OBERLE,DAVID 1512175830 $413.20 01/01/1998 360
600121220 SEGAL,JESSICA 1512184128 $725.07 01/01/1998 360
600121229 BENSON,PAUL 1513192799 $861.30 01/01/1998 360
600121232 BECK,ROBERT 1513202553 $1,087.60 01/01/1998 360
600121236 KEARL,PETER 1513205212 $758.75 01/01/1998 360
600121264 WILLIAMS,GARY 1513217437 $651.94 01/01/1998 360
600121266 OLMSTED,DONALD 1513218076 $616.36 01/01/1998 360
600121267 PRONTO,GREGREY 1513220646 $1,033.75 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121178 POULOS,STEVE $97,500.00 N
600121195 MEADORS,MICHAEL $200,000.00 N
600121198 FOX,JAMES $96,000.00 N
600121202 LOCKETT,LEROY $55,000.00 N
600121203 MEAGHER,SHANNON $112,153.00 N
600121209 STREET,TERRY $170,000.00 N
600121211 OBERLE,DAVID $71,500.00 N
600121220 SEGAL,JESSICA $145,000.00 N
600121229 BENSON,PAUL $145,000.00 N
600121232 BECK,ROBERT $275,000.00 N
600121236 KEARL,PETER $134,000.00 N
600121264 WILLIAMS,GARY $114,000.00 N
600121266 OLMSTED,DONALD $105,000.00 N
600121267 PRONTO,GREGREY $172,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 60
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121274 ORR,TOM 198 SOUTHGATE ROAD SACRAMENTO CA 95815 $133,000.85
600121277 BREITBART,STEPHEN 885 EL CERRO BOULEVA DANVILLE CA 94526 $195,847.10
600121282 TAYLOR,FREE 382 BENT TWIG AVENUE CAMARILLO CA 93012 $209,848.00
600121323 BURRUSS,VERN 82 LAWRENCE AVENUE WATSONVILLE CA 95076 $167,131.96
600121329 RIGGS,BRANDON 316 N SHEFFIELD WAY MUSTANG OK 73064 $50,216.28
600121331 BLAKLEY,IRVIN 214 EAST 12TH STREET DAVENPORT OK 74026 $94,681.74
600121332 CARLISLE,PAUL 3804 ANDREA LANE ROWLETT TX 75088 $84,232.46
600121334 ROMERO,MAXIMINO 1025 HUNTERS GLEN DRI MESQUITE TX 75150 $59,856.64
600121336 PARKINSON,THOMAS 766 WHITMAN PLACE ALLEN TX 75002 $117,516.99
600121338 LEVINE,MARFA 650 SE BRIDGEWAY AVE CORVALLIS OR 97333 $95,639.27
600121341 MATSON,LEIF 12708 NE 156TH ST WOODINVILLE WA 98072 $139,017.26
600121348 HEWITT,EVALYN 23515 110TH PL SE KENT WA 98031 $99,858.37
600121355 BRUNNER,JAMES 63035 MOONSTONE LANE BEND OR 97701 $131,909.15
600121356 ROSENKRANZ,CRAIG 3657 23RD AVE W SEATTLE WA 98199 $139,893.61
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121274 ORR,TOM 7.500 .250 7.250 .0400 7.210 12/01/2027
600121277 BREITBART,STEPHEN 7.250 .250 7.000 .0400 6.960 12/01/2027
600121282 TAYLOR,FREE 7.625 .250 7.375 .0400 7.335 12/01/2027
600121323 BURRUSS,VERN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121329 RIGGS,BRANDON 8.000 .250 7.750 .0400 7.710 12/01/2027
600121331 BLAKLEY,IRVIN 8.375 .250 8.125 .0400 8.085 11/01/2027
600121332 CARLISLE,PAUL 7.625 .250 7.375 .0400 7.335 12/01/2027
600121334 ROMERO,MAXIMINO 7.625 .250 7.375 .0400 7.335 12/01/2027
600121336 PARKINSON,THOMAS 7.750 .250 7.500 .0400 7.460 12/01/2027
600121338 LEVINE,MARFA 7.500 .250 7.250 .0400 7.210 08/01/2027
600121341 MATSON,LEIF 8.125 .250 7.875 .0400 7.835 11/01/2027
600121348 HEWITT,EVALYN 7.750 .250 7.500 .0400 7.460 11/01/2027
600121355 BRUNNER,JAMES 7.875 .250 7.625 .0400 7.585 12/01/2027
600121356 ROSENKRANZ,CRAIG 7.625 .250 7.375 .0400 7.335 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>
600121274 ORR,TOM 1550010289 $934.15 01/01/1998 360
600121277 BREITBART,STEPHEN 1550017299 $1,337.07 01/01/1998 360
600121282 TAYLOR,FREE 1553009173 $1,486.37 01/01/1998 360
600121323 BURRUSS,VERN 1561379633 $1,198.20 01/01/1998 360
600121329 RIGGS,BRANDON 1563173741 $368.72 01/01/1998 360
600121331 BLAKLEY,IRVIN 1563174824 $720.55 01/01/1998 360
600121332 CARLISLE,PAUL 1563175805 $597.03 01/01/1998 360
600121334 ROMERO,MAXIMINO 1563176750 $423.97 01/01/1998 360
600121336 PARKINSON,THOMAS 1563177243 $842.51 01/01/1998 360
600121338 LEVINE,MARFA 1565165347 $671.25 01/01/1998 360
600121341 MATSON,LEIF 1565172885 $1,033.56 01/01/1998 360
600121348 HEWITT,EVALYN 1565175056 $716.42 01/01/1998 360
600121355 BRUNNER,JAMES 1565176026 $957.10 01/01/1998 360
600121356 ROSENKRANZ,CRAIG 1565176048 $990.92 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121274 ORR,TOM $167,000.00 N
600121277 BREITBART,STEPHEN $575,000.00 N
600121282 TAYLOR,FREE $262,500.00 N
600121323 BURRUSS,VERN $223,000.00 N
600121329 RIGGS,BRANDON $67,000.00 N
600121331 BLAKLEY,IRVIN $140,000.00 N
600121332 CARLISLE,PAUL $112,500.00 N
600121334 ROMERO,MAXIMINO $79,900.00 N
600121336 PARKINSON,THOMAS $147,000.00 N
600121338 LEVINE,MARFA $120,000.00 N
600121341 MATSON,LEIF $174,000.00 N
600121348 HEWITT,EVALYN $155,000.00 N
600121355 BRUNNER,JAMES $165,000.00 N
600121356 ROSENKRANZ,CRAIG $175,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 61
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121357 ODONNELL,R 5346 SW NEBRASKA ST PORTLAND OR 97221 $111,417.24
600121359 MCCAULEY,JOHN 32052 S ONA WAY MOLALLA OR 97038 $110,422.01
600121362 BRYAN,LEATHA 2024 NE 55TH AVE PORTLAND OR 97213 $127,902.60
600121363 PRITIKIN,RALPH 3115 DOUGLAS CR LAKE OSWEGO OR 97035 $182,383.62
600121366 ROSS,DAVID 706 FRANKLIN CT GOLDENDALE WA 98620 $81,484.43
600121367 WRIGHT,BETTY 6502 EAST D ST TACOMA WA 98404 $81,542.40
600121375 DEWHITT,JAMES 726 SE E ST MADRAS OR 97741 $72,718.66
600121379 PETTIGREW,THOMAS 1614 N 197TH PL SHORELINE WA 98133 $187,867.31
600121382 MEARA,ROBERT 4993 WINFORD COURT NORCROSS GA 30092 $153,494.29
600121383 HARDEN,TAZWELL 89 BOUNDRY STREET CRESCENT GA 31304 $95,761.49
600121387 COBB,THOMAS 1419 BUFORD HIGHWAY CUMMING GA 30041 $169,873.83
600121389 ROGGE,ELIZABETH 4948 WOODLAND WAY ACWORTH GA 30102 $91,138.80
600121403 JOHNSON,LAYNE 2645 EAST WASHINGTON WASHINGTON UT 84780 $97,930.83
600121404 TURNER,VIRGINIA 348 MORELAND CIRCLE PRESCOTT AZ 86303 $99,827.61
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121357 ODONNELL,R 7.500 .250 7.250 .0400 7.210 12/01/2027
600121359 MCCAULEY,JOHN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121362 BRYAN,LEATHA 7.375 .250 7.125 .0400 7.085 12/01/2027
600121363 PRITIKIN,RALPH 8.250 .250 8.000 .0400 7.960 12/01/2027
600121366 ROSS,DAVID 7.750 .250 7.500 .0400 7.460 11/01/2027
600121367 WRIGHT,BETTY 7.750 .250 7.500 .0400 7.460 12/01/2027
600121375 DEWHITT,JAMES 7.625 .250 7.375 .0400 7.335 12/01/2022
600121379 PETTIGREW,THOMAS 7.750 .250 7.500 .0400 7.460 12/01/2027
600121382 MEARA,ROBERT 7.875 .250 7.625 .0400 7.585 12/01/2027
600121383 HARDEN,TAZWELL 7.750 .250 7.500 .0400 7.460 12/01/2027
600121387 COBB,THOMAS 7.500 .250 7.250 .0400 7.210 12/01/2027
600121389 ROGGE,ELIZABETH 8.000 .250 7.750 .0400 7.710 12/01/2027
600121403 JOHNSON,LAYNE 7.750 .250 7.500 .0400 7.460 12/01/2027
600121404 TURNER,VIRGINIA 7.625 .250 7.375 .0400 7.335 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>
600121357 ODONNELL,R 1565176241 $779.63 01/01/1998 360
600121359 MCCAULEY,JOHN 1565176310 $791.64 01/01/1998 360
600121362 BRYAN,LEATHA 1565176605 $884.07 01/01/1998 360
600121363 PRITIKIN,RALPH 1565176627 $1,371.07 01/01/1998 360
600121366 ROSS,DAVID 1565176762 $584.60 01/01/1998 360
600121367 WRIGHT,BETTY 1565176900 $584.60 01/01/1998 360
600121375 DEWHITT,JAMES 1565178043 $543.92 01/01/1998 300
600121379 PETTIGREW,THOMAS 1565179363 $1,346.86 01/01/1998 360
600121382 MEARA,ROBERT 1566113043 $1,113.71 01/01/1998 360
600121383 HARDEN,TAZWELL 1566113189 $687.76 01/01/1998 360
600121387 COBB,THOMAS 1566114669 $1,188.67 01/01/1998 360
600121389 ROGGE,ELIZABETH 1566115151 $669.20 01/01/1998 360
600121403 JOHNSON,LAYNE 1569180309 $702.09 01/01/1998 360
600121404 TURNER,VIRGINIA 1569182891 $707.80 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121357 ODONNELL,R $180,000.00 N
600121359 MCCAULEY,JOHN $170,000.00 N
600121362 BRYAN,LEATHA $164,000.00 N
600121363 PRITIKIN,RALPH $416,000.00 N
600121366 ROSS,DAVID $102,000.00 N
600121367 WRIGHT,BETTY $102,000.00 N
600121375 DEWHITT,JAMES $91,000.00 N
600121379 PETTIGREW,THOMAS $235,000.00 N
600121382 MEARA,ROBERT $192,000.00 N
600121383 HARDEN,TAZWELL $150,000.00 N
600121387 COBB,THOMAS $267,000.00 N
600121389 ROGGE,ELIZABETH $115,000.00 N
600121403 JOHNSON,LAYNE $140,000.00 N
600121404 TURNER,VIRGINIA $125,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 62
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121405 MARSHALL,PETER 2314 WEST AVALON DRIV PHOENIX AZ 85015 $52,763.66
600121408 DJORDJEVIC,ZORAN 7515 EAST SAGE DRIVE SCOTTSDALE AZ 85250 $193,863.08
600121410 VALDEZ,RICHARD 509 CALLE DE ISAAC TAOS NM 87571 $143,401.11
600121411 CULBRETH,ARLEEN 68 RAVENS RIDGE ROA SANTA FE NM 87505 $169,876.96
600121412 HILL,DAVID 7080 NORTH PELTO PATH TUCSON AZ 85743 $99,931.18
600121414 WALKER,STEVEN 6550 EAST CALLE CAPEL TUCSON AZ 85710 $73,946.44
600121418 GRANGER,CHARLES 9400 LEGRANGER RD CHARLOTTE NC 28262 $94,036.85
600121420 MARINO,JOHN 23 TWENTY FIFTH AVE ISLE OF PALMS SC 29451 $115,418.48
600121421 HAYES,WILLIAM 710 KATHLEEN STREET LOUISVILLE KY 40215 $44,238.82
600121422 FREEMAN,JIM 101 GORDON DRIVE TOWNVILLE SC 29689 $130,416.78
600121424 DUBOIS,V 236 MOUNTAIN VISTA D PIGEON FORGE TN 37863 $147,895.53
600121425 MACMILLAN,LEE 5603 ARROWOOD DRIVE GASTONIA NC 28056 $102,925.45
600121426 RYALS,THOMAS 5125 OLD HICKORY ROAD VAN WYCK SC 29744 $159,390.23
600121427 NORRIS,SMITH 135 MOCKINGBIRD TRAI GALLATIN TN 37066 $164,886.44
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121405 MARSHALL,PETER 7.875 .250 7.625 .0400 7.585 12/01/2027
600121408 DJORDJEVIC,ZORAN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121410 VALDEZ,RICHARD 7.875 .250 7.625 .0400 7.585 11/01/2017
600121411 CULBRETH,ARLEEN 7.625 .250 7.375 .0400 7.335 12/01/2027
600121412 HILL,DAVID 7.875 .250 7.625 .0400 7.585 12/01/2027
600121414 WALKER,STEVEN 7.625 .250 7.375 .0400 7.335 12/01/2027
600121418 GRANGER,CHARLES 8.000 .250 7.750 .0400 7.710 12/01/2027
600121420 MARINO,JOHN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121421 HAYES,WILLIAM 7.875 .250 7.625 .0400 7.585 11/01/2027
600121422 FREEMAN,JIM 8.250 .250 8.000 .0400 7.960 12/01/2027
600121424 DUBOIS,V 7.750 .250 7.500 .0400 7.460 12/01/2027
600121425 MACMILLAN,LEE 7.625 .250 7.375 .0400 7.335 12/01/2027
600121426 RYALS,THOMAS 7.875 .250 7.625 .0400 7.585 12/01/2027
600121427 NORRIS,SMITH 7.875 .250 7.625 .0400 7.585 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>
600121405 MARSHALL,PETER 1569183555 $382.84 01/01/1998 360
600121408 DJORDJEVIC,ZORAN 1569184751 $1,389.84 01/01/1998 360
600121410 VALDEZ,RICHARD 1569185380 $1,193.30 01/01/1998 240
600121411 CULBRETH,ARLEEN 1569185528 $1,203.25 01/01/1998 360
600121412 HILL,DAVID 1569185878 $725.07 01/01/1998 360
600121414 WALKER,STEVEN 1569186145 $523.77 01/01/1998 360
600121418 GRANGER,CHARLES 1577099330 $690.48 01/01/1998 360
600121420 MARINO,JOHN 1577101636 $827.46 01/01/1998 360
600121421 HAYES,WILLIAM 1577101975 $321.21 01/01/1998 360
600121422 FREEMAN,JIM 1577102253 $980.41 01/01/1998 360
600121424 DUBOIS,V 1577103890 $1,060.30 01/01/1998 360
600121425 MACMILLAN,LEE 1577104758 $729.03 01/01/1998 360
600121426 RYALS,THOMAS 1577105014 $1,156.49 01/01/1998 360
600121427 NORRIS,SMITH 1577105036 $1,196.37 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121405 MARSHALL,PETER $66,000.00 N
600121408 DJORDJEVIC,ZORAN $283,000.00 N
600121410 VALDEZ,RICHARD $180,000.00 N
600121411 CULBRETH,ARLEEN $342,000.00 N
600121412 HILL,DAVID $137,000.00 N
600121414 WALKER,STEVEN $93,000.00 N
600121418 GRANGER,CHARLES $144,800.00 N
600121420 MARINO,JOHN $154,000.00 N
600121421 HAYES,WILLIAM $80,000.00 N
600121422 FREEMAN,JIM $275,000.00 N
600121424 DUBOIS,V $185,000.00 N
600121425 MACMILLAN,LEE $171,000.00 N
600121426 RYALS,THOMAS $212,000.00 N
600121427 NORRIS,SMITH $220,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 63
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121428 LIN,SHANG 8 S OAK FOREST DRI ASHEVILLE NC 28803 $118,918.10
600121429 WHITE,KRIS 204 HIGHWAY 651 FOUNTAIN INN SC 29644 $79,263.57
600121430 RUSSELL,A 217 COLLINS STREET CHURCH HILL TN 37642 $126,905.74
600121432 DAVIES,KIMON 1242 BURNETT ROAD WILMINGTON NC 28409 $82,690.11
600121433 EDWARDS,JANICE 104 SOUTHAMPTON DRIV KNIGHTDALE NC 27545 $92,188.10
600121434 DAVIS,MARY 704 WEST BEACH DRIVE LONG BEACH NC 28465 $87,439.78
600121435 TAYLOR,SARAH 6503 GRAYSON COURT NASHVILLE TN 37205 $179,879.22
600121438 SLAVINSKI,JOHN 10446 INDEPENDENCE CIR WESTMINISTER CO 80021 $95,071.42
600121441 FARIS,GARY 802 BOWEN ST LONGMONT CO 80501 $159,889.88
600121445 SNELL,PAUL 8033 S ROYAL LN SALT LAKE CITY UT 84121 $164,671.48
600121447 ARAGON,DAVID 2506 EASTWOOD DR FORT COLLINS CO 80525 $162,382.38
600121448 SIMPER,ROBERT 3235 W 7675 S WEST JORDAN UT 84084 $110,610.82
600121449 BACALANE,JEFFRY 3119 BRENNER PLACE COLORADO SPRING CO 80917 $199,855.24
600121450 GILLIS,JAMES 16746 HOPPER RD PEYTON CO 80831 $139,910.43
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121428 LIN,SHANG 7.875 .250 7.625 .0400 7.585 12/01/2027
600121429 WHITE,KRIS 8.250 .250 8.000 .0400 7.960 12/01/2027
600121430 RUSSELL,A 7.500 .250 7.250 .0400 7.210 12/01/2027
600121432 DAVIES,KIMON 7.625 .250 7.375 .0400 7.335 12/01/2027
600121433 EDWARDS,JANICE 8.000 .250 7.750 .0400 7.710 12/01/2027
600121434 DAVIS,MARY 7.875 .250 7.625 .0400 7.585 12/01/2027
600121435 TAYLOR,SARAH 8.000 .250 7.750 .0400 7.710 12/01/2027
600121438 SLAVINSKI,JOHN 8.000 .250 7.750 .0400 7.710 11/01/2027
600121441 FARIS,GARY 7.875 .250 7.625 .0400 7.585 12/01/2027
600121445 SNELL,PAUL 7.875 .250 7.625 .0400 7.585 11/01/2027
600121447 ARAGON,DAVID 7.625 .250 7.375 .0400 7.335 12/01/2027
600121448 SIMPER,ROBERT 7.625 .250 7.375 .0400 7.335 12/01/2027
600121449 BACALANE,JEFFRY 7.625 .250 7.375 .0400 7.335 12/01/2027
600121450 GILLIS,JAMES 8.125 .250 7.875 .0400 7.835 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>
600121428 LIN,SHANG 1577105069 $862.84 01/01/1998 360
600121429 WHITE,KRIS 1577105240 $601.02 01/01/1998 360
600121430 RUSSELL,A 1577105397 $888.01 01/01/1998 360
600121432 DAVIES,KIMON 1577106630 $585.70 01/01/1998 360
600121433 EDWARDS,JANICE 1577107199 $676.90 01/01/1998 360
600121434 DAVIS,MARY 1577107360 $634.44 01/01/1998 360
600121435 TAYLOR,SARAH 1577108409 $1,320.78 01/01/1998 360
600121438 SLAVINSKI,JOHN 1579064440 $698.54 01/01/1998 360
600121441 FARIS,GARY 1579064993 $1,160.12 01/01/1998 360
600121445 SNELL,PAUL 1579065373 $1,196.37 01/01/1998 360
600121447 ARAGON,DAVID 1579065522 $1,150.17 01/01/1998 360
600121448 SIMPER,ROBERT 1579065715 $784.24 01/01/1998 360
600121449 BACALANE,JEFFRY 1579065759 $1,415.59 01/01/1998 360
600121450 GILLIS,JAMES 1579065919 $1,047.30 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121428 LIN,SHANG $172,000.00 N
600121429 WHITE,KRIS $160,000.00 N
600121430 RUSSELL,A $169,500.00 N
600121432 DAVIES,KIMON $145,000.00 N
600121433 EDWARDS,JANICE $123,000.00 N
600121434 DAVIS,MARY $125,000.00 N
600121435 TAYLOR,SARAH $229,500.00 N
600121438 SLAVINSKI,JOHN $119,000.00 N
600121441 FARIS,GARY $200,000.00 N
600121445 SNELL,PAUL $308,000.00 N
600121447 ARAGON,DAVID $204,000.00 N
600121448 SIMPER,ROBERT $138,500.00 N
600121449 BACALANE,JEFFRY $250,000.00 N
600121450 GILLIS,JAMES $217,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 64
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121451 SHEPHERD,VICKY 498 W 200 N MIDWAY UT 84049 $84,731.47
600121452 WILKINSON,TRAVIS 1069 S 66O E ST. GEORGE UT 84790 $119,910.94
600121453 JUSSEL,DONALD 10171 W BERRY PLACE LITTLETON CO 80127 $152,689.41
600121454 MEISSNER,FRANKLIN 12 FRENCH STREET HINGHAM MA 02043 $199,847.81
600121455 MILLER,JANNELLEN 46 BUENA VISTA STRE SWAMPSCOTT MA 01907 $71,457.79
600121456 OLICK,CHERYL 23 SAMOSET AVENUE HULL MA 02045 $79,889.52
600121458 CUMMINGS,DONNA 1 BALSAM LANE MERRIMACK NH 03054 $114,814.73
600121463 NAJARIAN,FRANCIS 34 SOUTH LENOX STRE WORCESTER MA 01602 $137,916.39
600121467 ELEY,CHERYL 950 TEN ROD ROAD NORTH KINGSTOWN RI 02852 $204,055.87
600121481 GREENE,EDWARD 47 CHAMBERLAIN AVEN WESTWOOD MA 02090 $203,859.60
600121488 BARBOUR,WILLIAM 159 CONGDON MILL ROA WEST GREENWICH RI 02817 $107,076.19
600121489 LEVESQUE,KIMBERLY 335 LEBANON AVENUE LEBANON CT 06249 $99,929.41
600121493 MICELI,JOSEPH 23 TROLLEY BRIDGE R SHELTON CT 06484 $107,925.67
600121500 BRAGG,PAMELA 18 DETTLING ROAD MAYNARD MA 01754 $169,389.12
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121451 SHEPHERD,VICKY 7.625 .250 7.375 .0400 7.335 12/01/2027
600121452 WILKINSON,TRAVIS 7.500 .250 7.250 .0400 7.210 12/01/2027
600121453 JUSSEL,DONALD 7.625 .250 7.375 .0400 7.335 12/01/2027
600121454 MEISSNER,FRANKLIN 7.375 .250 7.125 .0400 7.085 12/01/2027
600121455 MILLER,JANNELLEN 8.625 .250 8.375 .0400 8.335 12/01/2027
600121456 OLICK,CHERYL 7.875 .250 7.625 .0400 7.585 11/01/2027
600121458 CUMMINGS,DONNA 7.500 .250 7.250 .0400 7.210 12/01/2027
600121463 NAJARIAN,FRANCIS 8.500 .250 8.250 .0400 8.210 12/01/2027
600121467 ELEY,CHERYL 7.750 .250 7.500 .0400 7.460 12/01/2027
600121481 GREENE,EDWARD 7.875 .250 7.625 .0400 7.585 12/01/2027
600121488 BARBOUR,WILLIAM 7.875 .250 7.625 .0400 7.585 12/01/2027
600121489 LEVESQUE,KIMBERLY 7.750 .250 7.500 .0400 7.460 12/01/2027
600121493 MICELI,JOSEPH 7.875 .250 7.625 .0400 7.585 12/01/2027
600121500 BRAGG,PAMELA 8.125 .250 7.875 .0400 7.835 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>
600121451 SHEPHERD,VICKY 1579066060 $601.63 01/01/1998 360
600121452 WILKINSON,TRAVIS 1579066081 $839.06 01/01/1998 360
600121453 JUSSEL,DONALD 1579066638 $1,081.51 01/01/1998 360
600121454 MEISSNER,FRANKLIN 1580059913 $1,381.36 01/01/1998 360
600121455 MILLER,JANNELLEN 1580062667 $556.12 01/01/1998 360
600121456 OLICK,CHERYL 1580064301 $580.06 01/01/1998 360
600121458 CUMMINGS,DONNA 1580064550 $803.40 01/01/1998 360
600121463 NAJARIAN,FRANCIS 1580065155 $1,061.11 01/01/1998 360
600121467 ELEY,CHERYL 1580065632 $1,462.92 01/01/1998 360
600121481 GREENE,EDWARD 1580067365 $1,479.15 01/01/1998 360
600121488 BARBOUR,WILLIAM 1580067842 $777.64 01/01/1998 360
600121489 LEVESQUE,KIMBERLY 1580067886 $716.42 01/01/1998 360
600121493 MICELI,JOSEPH 1580068131 $783.08 01/01/1998 360
600121500 BRAGG,PAMELA 1580069327 $1,258.54 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121451 SHEPHERD,VICKY $150,000.00 N
600121452 WILKINSON,TRAVIS $150,000.00 N
600121453 JUSSEL,DONALD $191,000.00 N
600121454 MEISSNER,FRANKLIN $275,000.00 N
600121455 MILLER,JANNELLEN $162,000.00 N
600121456 OLICK,CHERYL $107,000.00 N
600121458 CUMMINGS,DONNA $146,500.00 N
600121463 NAJARIAN,FRANCIS $210,000.00 N
600121467 ELEY,CHERYL $315,000.00 N
600121481 GREENE,EDWARD $255,000.00 N
600121488 BARBOUR,WILLIAM $143,000.00 N
600121489 LEVESQUE,KIMBERLY $150,000.00 N
600121493 MICELI,JOSEPH $144,000.00 N
600121500 BRAGG,PAMELA $226,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 65
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121502 RAY,NATALIE 1594 DELL ROSE DRIVE BLOOMFIELD HILL MI 48302 $209,866.09
600121503 HAMMOUD,NAEF 6800 MEAD STREET DEARBORN MI 48126 $44,972.73
600121504 WRIGHT,MICHAEL 5685 EAST GRAND RIVER GENOA TOWNSHIP MI 48843 $71,956.38
600121505 AMEY,STEVEN 913 LASALLE PORT HURON MI 48060 $66,358.73
600121507 SASE,JOHN 18823 SAN QUENTIN LATHRUP VILLAGE MI 48076 $179,879.22
600121513 COLEMAN,KENNETH 2186 WOODWARD MUSKEGON MI 49442 $72,751.15
600121515 CAVIN,ROBERT 2644 EDGEMERE COMMERCE TWP MI 48382 $89,541.39
600121516 BOYER,SCOTT 1728 WEST 31ST STREET ERIE PA 16508 $61,908.39
600121517 RUNDELL,MARY 510 NORTH MORRIS STR PENTWATER MI 49449 $95,938.78
600121519 MAYS,SHARON 409 MCGOVNEY STREET IRONTON OH 45638 $45,557.66
600121520 WEBSTER,FRED 26220 DIXBORO ROAD SOUTH LYON MI 48178 $49,940.74
600121521 SPENCE,JERRY 4655 OUTER LINCOLN AV NEWBURGH IN 47630 $69,951.82
600121522 EASTERWOOD,DAVID 77 CAMBRIDGE COURT CHELSEA MI 48118 $133,914.55
600121523 GARRISON,JERRY 685 MELROSE PONTIAC MI 48340 $47,959.90
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121502 RAY,NATALIE 8.250 .250 8.000 .0400 7.960 12/01/2027
600121503 HAMMOUD,NAEF 8.500 .250 8.250 .0400 8.210 12/01/2027
600121504 WRIGHT,MICHAEL 8.500 .250 8.250 .0400 8.210 12/01/2027
600121505 AMEY,STEVEN 8.375 .250 8.125 .0400 8.085 12/01/2027
600121507 SASE,JOHN 8.000 .250 7.750 .0400 7.710 12/01/2027
600121513 COLEMAN,KENNETH 8.000 .250 7.750 .0400 7.710 12/01/2027
600121515 CAVIN,ROBERT 8.125 .250 7.875 .0400 7.835 12/01/2027
600121516 BOYER,SCOTT 8.000 .250 7.750 .0400 7.710 12/01/2027
600121517 RUNDELL,MARY 8.250 .250 8.000 .0400 7.960 12/01/2027
600121519 MAYS,SHARON 8.250 .250 8.000 .0400 7.960 12/01/2027
600121520 WEBSTER,FRED 8.625 .250 8.375 .0400 8.335 11/01/2027
600121521 SPENCE,JERRY 7.875 .250 7.625 .0400 7.585 12/01/2027
600121522 EASTERWOOD,DAVID 8.250 .250 8.000 .0400 7.960 12/01/2027
600121523 GARRISON,JERRY 8.125 .250 7.875 .0400 7.835 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>
600121502 RAY,NATALIE 1581121149 $1,577.66 01/01/1998 360
600121503 HAMMOUD,NAEF 1581121626 $346.02 01/01/1998 360
600121504 WRIGHT,MICHAEL 1581127553 $553.62 01/01/1998 360
600121505 AMEY,STEVEN 1581128760 $504.69 01/01/1998 360
600121507 SASE,JOHN 1581131903 $1,320.78 01/01/1998 360
600121513 COLEMAN,KENNETH 1581135391 $534.18 01/01/1998 360
600121515 CAVIN,ROBERT 1581136816 $665.28 01/01/1998 360
600121516 BOYER,SCOTT 1581137783 $454.94 01/01/1998 360
600121517 RUNDELL,MARY 1581138265 $721.22 01/01/1998 360
600121519 MAYS,SHARON 1581138367 $342.58 01/01/1998 360
600121520 WEBSTER,FRED 1581138538 $388.90 01/01/1998 360
600121521 SPENCE,JERRY 1581138560 $507.55 01/01/1998 360
600121522 EASTERWOOD,DAVID 1581138593 $1,006.70 01/01/1998 360
600121523 GARRISON,JERRY 1581139064 $356.40 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121502 RAY,NATALIE $310,000.00 N
600121503 HAMMOUD,NAEF $130,000.00 N
600121504 WRIGHT,MICHAEL $90,000.00 N
600121505 AMEY,STEVEN $83,000.00 N
600121507 SASE,JOHN $225,000.00 N
600121513 COLEMAN,KENNETH $91,000.00 N
600121515 CAVIN,ROBERT $112,000.00 N
600121516 BOYER,SCOTT $78,000.00 N
600121517 RUNDELL,MARY $120,000.00 N
600121519 MAYS,SHARON $57,000.00 N
600121520 WEBSTER,FRED $123,500.00 N
600121521 SPENCE,JERRY $87,500.00 N
600121522 EASTERWOOD,DAVID $234,500.00 N
600121523 GARRISON,JERRY $63,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 66
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121524 JONES,JAME 1315 SOUTH HARLAN EVANSVILLE IN 47714 $35,975.22
600121525 LANGTRY,DAVID 1058 EAST 347TH STREE EASTLAKE OH 44095 $83,792.67
600121527 KNIGHTSTEP,RAY 717 DEWEY ROYAL OAK MI 48073 $105,530.92
600121528 COUTS,RONALD 29433 DERECK DRIVE CHESTERFIELD TO MI 48051 $167,850.55
600121529 SHEENA,ZUHAIR 14011 OAK PARK BLVD OAK PARK MI 48227 $91,938.26
600121530 KITZMILLER,GARY 4675 HATCHERY ROAD WATERFORD MI 48329 $110,323.58
600121532 HAGUE,MARK 6939 DESMOND WATERFORD MI 48329 $163,895.42
600121533 KIRSH,ARTHUR 15710 ADDISON SOUTHFIELD MI 48075 $105,928.87
600121535 WEIGEL,PAUL 59 WARWOOD TERRACE WHEELING WV 26003 $51,964.21
600121537 VALENTA,MATHEW 5135 HINDS ROAD IONIA MI 48846 $63,957.06
600121540 HATCH,JOHN 527 UNIVERSITY PLACE GROSSE POINTE MI 48230 $199,416.10
600121543 SHARP,VIRGINIA 6952 RAYMOND DRIVE DUBLIN OH 43017 $109,928.04
600121545 CUPP,DAVID 3534 NORTH 800 WEST WEST LAFAYETTE IN 47906 $119,917.41
600121546 RHODES,BILL 5105 N FARES AVE EVANSVILLE IN 47711 $36,775.93
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121524 JONES,JAME 7.875 .250 7.625 .0400 7.585 12/01/2027
600121525 LANGTRY,DAVID 8.375 .250 8.125 .0400 8.085 12/01/2027
600121527 KNIGHTSTEP,RAY 8.125 .250 7.875 .0400 7.835 12/01/2027
600121528 COUTS,RONALD 8.250 .250 8.000 .0400 7.960 12/01/2027
600121529 SHEENA,ZUHAIR 8.000 .250 7.750 .0400 7.710 12/01/2027
600121530 KITZMILLER,GARY 7.875 .250 7.625 .0400 7.585 12/01/2027
600121532 HAGUE,MARK 8.250 .250 8.000 .0400 7.960 12/01/2027
600121533 KIRSH,ARTHUR 8.000 .250 7.750 .0400 7.710 12/01/2027
600121535 WEIGEL,PAUL 7.875 .250 7.625 .0400 7.585 12/01/2027
600121537 VALENTA,MATHEW 8.000 .250 7.750 .0400 7.710 12/01/2027
600121540 HATCH,JOHN 8.000 .250 7.750 .0400 7.710 12/01/2027
600121543 SHARP,VIRGINIA 8.125 .250 7.875 .0400 7.835 12/01/2027
600121545 CUPP,DAVID 7.875 .250 7.625 .0400 7.585 12/01/2027
600121546 RHODES,BILL 8.125 .250 7.875 .0400 7.835 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>
600121524 JONES,JAME 1581139268 $261.03 01/01/1998 360
600121525 LANGTRY,DAVID 1581139552 $638.47 01/01/1998 360
600121527 KNIGHTSTEP,RAY 1581140132 $784.08 01/01/1998 360
600121528 COUTS,RONALD 1581140143 $1,262.13 01/01/1998 360
600121529 SHEENA,ZUHAIR 1581140529 $675.07 01/01/1998 360
600121530 KITZMILLER,GARY 1581140824 $800.48 01/01/1998 360
600121532 HAGUE,MARK 1581141102 $1,232.08 01/01/1998 360
600121533 KIRSH,ARTHUR 1581141113 $777.80 01/01/1998 360
600121535 WEIGEL,PAUL 1581142003 $377.04 01/01/1998 360
600121537 VALENTA,MATHEW 1581142740 $469.61 01/01/1998 360
600121540 HATCH,JOHN 1581143334 $1,464.23 01/01/1998 360
600121543 SHARP,VIRGINIA 1581143990 $816.75 01/01/1998 360
600121545 CUPP,DAVID 1581144563 $870.09 01/01/1998 360
600121546 RHODES,BILL 1581144789 $273.24 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121524 JONES,JAME $45,000.00 N
600121525 LANGTRY,DAVID $105,000.00 N
600121527 KNIGHTSTEP,RAY $132,000.00 N
600121528 COUTS,RONALD $210,000.00 N
600121529 SHEENA,ZUHAIR $115,000.00 N
600121530 KITZMILLER,GARY $138,000.00 N
600121532 HAGUE,MARK $320,000.00 N
600121533 KIRSH,ARTHUR $132,500.00 N
600121535 WEIGEL,PAUL $65,000.00 N
600121537 VALENTA,MATHEW $80,000.00 N
600121540 HATCH,JOHN $307,000.00 N
600121543 SHARP,VIRGINIA $169,900.00 N
600121545 CUPP,DAVID $150,000.00 N
600121546 RHODES,BILL $46,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 67
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121547 BIDDINGER,LAURA 31869 WEST 13 MILE RD FARMINGTON HILL MI 48334 $74,954.56
600121549 TAR,DANIEL 971 DOUGLAS GARDEN CITY MI 48135 $76,447.35
600121552 KNUTSON,BRIAN 5185 NORTH ARM DRIVE MINNETRISTA MN 55364 $174,876.48
600121561 THEODORE,GEORGE 477 HILLBROOK BALLWIN MO 63011 $118,328.28
600121564 CAPLINGER,CHRISTOPHER 237 WATERFORD CROSSI O' FALLON MO 63366 $119,921.50
600121573 KROSCHEL,STACY 8325 NORTH MANGO MORTON GROVE IL 60053 $69,948.04
600121576 BRAUCHLE,ERIC 94 CRESTVIEW DRIVE PARSIPPANY NJ 07054 $147,448.46
600121578 BABULA,ANN 110 MOUNT LEBANON RO MOUNT LEBANON NJ 08826 $124,740.22
600121579 RODRIGUEZ,WILFREDO 25 EAST HUDSON AVEN ENGLEWOOD NJ 07631 $99,937.84
600121583 LEVINE,CAROL 5715 SHETLAND COURT BENSALEM PA 19020 $76,042.09
600121586 MCKEE,THOMAS 2 RUNNYMEDE DRIVE CHARLES TOWN WV 25414 $158,956.97
600121591 LINDSAY,MARIA 364 MAURO ROAD ENGLEWOOD CLIFF NJ 07632 $223,841.90
600121593 WARREN,BENJAMIN 1312 GOODES FERRY ROA SOUTH HILL VA 23970 $71,944.65
600121594 FROST,KENNETH 4523 RHETT LANE FAIRFAX VA 22030 $182,261.20
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121547 BIDDINGER,LAURA 8.500 .250 8.250 .0400 8.210 12/01/2027
600121549 TAR,DANIEL 7.875 .250 7.625 .0400 7.585 12/01/2027
600121552 KNUTSON,BRIAN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121561 THEODORE,GEORGE 8.500 .250 8.250 .0400 8.210 12/01/2027
600121564 CAPLINGER,CHRISTOPHER 8.125 .250 7.875 .0400 7.835 12/01/2027
600121573 KROSCHEL,STACY 7.500 .250 7.250 .0400 7.210 12/01/2027
600121576 BRAUCHLE,ERIC 7.875 .250 7.625 .0400 7.585 12/01/2027
600121578 BABULA,ANN 7.875 .250 7.625 .0400 7.585 10/01/2027
600121579 RODRIGUEZ,WILFREDO 8.375 .250 8.125 .0400 8.085 12/01/2027
600121583 LEVINE,CAROL 7.375 .250 7.125 .0400 7.085 12/01/2027
600121586 MCKEE,THOMAS 7.375 .250 7.125 .0400 7.085 11/01/2027
600121591 LINDSAY,MARIA 7.750 .250 7.500 .0400 7.460 12/01/2027
600121593 WARREN,BENJAMIN 7.875 .250 7.625 .0400 7.585 12/01/2027
600121594 FROST,KENNETH 7.375 .250 7.125 .0400 7.085 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>
600121547 BIDDINGER,LAURA 1581145282 $576.69 01/01/1998 360
600121549 TAR,DANIEL 1581145475 $554.68 01/01/1998 360
600121552 KNUTSON,BRIAN 1583067736 $1,253.73 01/01/1998 360
600121561 THEODORE,GEORGE 1583072758 $910.39 01/01/1998 360
600121564 CAPLINGER,CHRISTOPHER 1583073411 $891.00 01/01/1998 360
600121573 KROSCHEL,STACY 1583076792 $489.46 01/01/1998 360
600121576 BRAUCHLE,ERIC 1587060058 $1,069.84 01/01/1998 360
600121578 BABULA,ANN 1587077232 $906.34 01/01/1998 360
600121579 RODRIGUEZ,WILFREDO 1587084806 $760.08 01/01/1998 360
600121583 LEVINE,CAROL 1587087065 $525.61 01/01/1998 360
600121586 MCKEE,THOMAS 1587088308 $1,099.56 01/01/1998 360
600121591 LINDSAY,MARIA 1587089548 $1,604.77 01/01/1998 360
600121593 WARREN,BENJAMIN 1587089730 $522.05 01/01/1998 360
600121594 FROST,KENNETH 1587089934 $1,259.80 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121547 BIDDINGER,LAURA $100,000.00 N
600121549 TAR,DANIEL $96,000.00 N
600121552 KNUTSON,BRIAN $375,000.00 N
600121561 THEODORE,GEORGE $148,000.00 N
600121564 CAPLINGER,CHRISTOPHER $150,000.00 N
600121573 KROSCHEL,STACY $146,000.00 N
600121576 BRAUCHLE,ERIC $212,000.00 N
600121578 BABULA,ANN $213,000.00 N
600121579 RODRIGUEZ,WILFREDO $125,000.00 N
600121583 LEVINE,CAROL $108,000.00 N
600121586 MCKEE,THOMAS $199,000.00 N
600121591 LINDSAY,MARIA $450,000.00 N
600121593 WARREN,BENJAMIN $90,000.00 N
600121594 FROST,KENNETH $228,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 68
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121598 GENTILE,PATRICIA 2610 MAPLE AVENUE WILMINGTON DE 19808 $83,149.59
600121606 BEAVERS,ROBERT 1078 MARL PIT ROAD MIDDLETOWN DE 19709 $141,494.91
600121608 CLAUS,WAYNE 294 WYCKOFF AVENUE WALDWICK NJ 07463 $129,908.24
600121612 SANTALLA,GONZALO 19449 SW 248 ST MIAMI FL 33031 $145,007.47
600121613 JORDAN,DONNA 19491 NE 19TH PL NORTH MIAMI BEA FL 33179 $110,184.07
600121616 MONNIER,MICHAEL 1974 ELLIOT DRIVE CLEARWATER FL 33763 $81,893.55
600121619 RUBI,EDUARDO 6031 SW 12TH ST MIAMI FL 33144 $114,415.02
600121620 AROCHA,DEMETRIO 1090 W 70 PL HIALEAH FL 33014 $75,907.58
600121621 SIMMONS,MARK 1730 MAYO ST HOLLYWOOD FL 33020 $59,661.93
600121626 WHITE,ROBERT 17223 STARFISH LN SUGARLOAF KEY FL 33042 $150,285.55
600121627 ELSBERRY,EVA 513 GOLF AND SEA BLV APOLLO BEACH FL 33572 $42,971.87
600121629 CHERGEY,JENNIFER 930 IBIS AVENUE MIAMI SPRINGS FL 33166 $167,881.42
600121630 MAHMOOD,ASIF 915 W ILEX DR LAKE PARK FL 33403 $59,963.65
600121632 REAL,DAVID 4234 SW 95 CT MIAMI FL 33165 $115,424.44
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121598 GENTILE,PATRICIA 8.500 .250 8.250 .0400 8.210 12/01/2027
600121606 BEAVERS,ROBERT 7.500 .250 7.250 .0400 7.210 12/01/2027
600121608 CLAUS,WAYNE 7.750 .250 7.500 .0400 7.460 12/01/2027
600121612 SANTALLA,GONZALO 8.250 .250 8.000 .0400 7.960 12/01/2027
600121613 JORDAN,DONNA 8.750 .250 8.500 .0400 8.460 09/01/2027
600121616 MONNIER,MICHAEL 8.375 .250 8.125 .0400 8.085 11/01/2027
600121619 RUBI,EDUARDO 7.500 .250 7.250 .0400 7.210 12/01/2027
600121620 AROCHA,DEMETRIO 8.500 .250 8.250 .0400 8.210 11/01/2027
600121621 SIMMONS,MARK 8.250 .250 8.000 .0400 7.960 12/01/2027
600121626 WHITE,ROBERT 7.375 .250 7.125 .0400 7.085 12/01/2027
600121627 ELSBERRY,EVA 8.125 .250 7.875 .0400 7.835 12/01/2027
600121629 CHERGEY,JENNIFER 7.750 .250 7.500 .0400 7.460 12/01/2027
600121630 MAHMOOD,ASIF 8.500 .250 8.250 .0400 8.210 12/01/2027
600121632 REAL,DAVID 8.125 .250 7.875 .0400 7.835 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>
600121598 GENTILE,PATRICIA 1587091062 $639.74 01/01/1998 360
600121606 BEAVERS,ROBERT 1587092371 $990.09 01/01/1998 360
600121608 CLAUS,WAYNE 1587092757 $931.34 01/01/1998 360
600121612 SANTALLA,GONZALO 1589120671 $1,090.09 01/01/1998 360
600121613 JORDAN,DONNA 1589124923 $870.10 01/01/1998 360
600121616 MONNIER,MICHAEL 1589136285 $623.26 01/01/1998 360
600121619 RUBI,EDUARDO 1589141140 $800.61 01/01/1998 360
600121620 AROCHA,DEMETRIO 1589142164 $584.38 01/01/1998 360
600121621 SIMMONS,MARK 1589142222 $448.51 01/01/1998 360
600121626 WHITE,ROBERT 1589144909 $1,038.78 01/01/1998 360
600121627 ELSBERRY,EVA 1589145016 $319.28 01/01/1998 360
600121629 CHERGEY,JENNIFER 1589145774 $1,203.58 01/01/1998 360
600121630 MAHMOOD,ASIF 1589145990 $461.35 01/01/1998 360
600121632 REAL,DAVID 1589148422 $857.59 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121598 GENTILE,PATRICIA $104,000.00 N
600121606 BEAVERS,ROBERT $177,000.00 N
600121608 CLAUS,WAYNE $181,000.00 N
600121612 SANTALLA,GONZALO $345,000.00 N
600121613 JORDAN,DONNA $147,500.00 N
600121616 MONNIER,MICHAEL $115,000.00 N
600121619 RUBI,EDUARDO $157,000.00 N
600121620 AROCHA,DEMETRIO $117,000.00 N
600121621 SIMMONS,MARK $84,000.00 N
600121626 WHITE,ROBERT $188,000.00 N
600121627 ELSBERRY,EVA $79,900.00 N
600121629 CHERGEY,JENNIFER $210,000.00 N
600121630 MAHMOOD,ASIF $75,000.00 N
600121632 REAL,DAVID $165,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 69
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121634 KENTON,STEPHEN 13527 NW 147 AVENUE ALACHUA FL 32615 $35,353.53
600121637 TRAVIS,SHIRLEY 6979 SMITHTOWN ROAD EIGHT MILE AL 36613 $131,906.83
600121638 TORRES,AWILDA 1726 PINE AVENUE DE LAND FL 32724 $59,563.89
600121639 BARNES,ROBERT 186 TWELVE OAKS CIRC CHELSEA AL 35043 $199,855.24
600121640 MARTIN,CHARLENE 58 SEA HARBOR DRIVE ORMOND BEACH FL 32176 $80,191.91
600121641 ZINK,GEORGE 580 WILLINGHAM ROAD CHULUOTA FL 32766 $59,925.00
600121643 RODGERS,BOYCE 1528 AIRPARK ROAD EDGEWATER FL 32132 $49,964.71
600121644 COMPTON,PETE 535 TALMADGE ROAD BIG BEAR LAKE CA 92315 $95,479.09
600121645 MARTIN,BETTE 11623 HUSTON STREET (N LOS ANGELES CA 91601 $173,624.24
600121668 FRABOTTA,GEORGIA 13424 MARGATE STREET SHERMAN OAKS CA 91401 $164,894.78
600121695 GLAZEBROOK,SUSAN 859 SOUTH LA LUNA AV OJAI CA 93023 $49,964.71
600121724 PAKSHIR,MOHAMMED 5755 N OCTAVIA CHICAGO IL 60631 $183,610.18
600121734 CUBLER,BENJAMIN 853 COROLLA DRIVE COROLLA NC 27927 $134,461.11
600121735 CONSTANCE,JOHN 810 LIGHTHOUSE DRIVE COROLLA NC 27927 $214,448.54
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121634 KENTON,STEPHEN 8.125 .250 7.875 .0400 7.835 11/01/2027
600121637 TRAVIS,SHIRLEY 7.750 .250 7.500 .0400 7.460 12/01/2027
600121638 TORRES,AWILDA 8.500 .250 8.250 .0400 8.210 12/01/2027
600121639 BARNES,ROBERT 7.625 .250 7.375 .0400 7.335 12/01/2027
600121640 MARTIN,CHARLENE 7.625 .250 7.375 .0400 7.335 12/01/2027
600121641 ZINK,GEORGE 8.500 .250 8.250 .0400 8.210 12/01/2027
600121643 RODGERS,BOYCE 7.750 .250 7.500 .0400 7.460 12/01/2027
600121644 COMPTON,PETE 7.500 .250 7.250 .0400 7.210 12/01/2027
600121645 MARTIN,BETTE 7.625 .250 7.375 .0400 7.335 12/01/2027
600121668 FRABOTTA,GEORGIA 8.250 .250 8.000 .0400 7.960 12/01/2027
600121695 GLAZEBROOK,SUSAN 7.750 .250 7.500 .0400 7.460 12/01/2027
600121724 PAKSHIR,MOHAMMED 7.375 .250 7.125 .0400 7.085 12/01/2027
600121734 CUBLER,BENJAMIN 7.500 .250 7.250 .0400 7.210 12/01/2027
600121735 CONSTANCE,JOHN 7.750 .250 7.500 .0400 7.460 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>
600121634 KENTON,STEPHEN 1590049086 $262.84 01/01/1998 360
600121637 TRAVIS,SHIRLEY 1590058473 $945.67 01/01/1998 360
600121638 TORRES,AWILDA 1590059432 $458.28 01/01/1998 360
600121639 BARNES,ROBERT 1590059807 $1,415.59 01/01/1998 360
600121640 MARTIN,CHARLENE 1590060056 $568.01 01/01/1998 360
600121641 ZINK,GEORGE 1590060103 $461.35 01/01/1998 360
600121643 RODGERS,BOYCE 1590061208 $358.21 01/01/1998 360
600121644 COMPTON,PETE 1595050210 $668.10 01/01/1998 360
600121645 MARTIN,BETTE 1595056012 $1,229.80 01/01/1998 360
600121668 FRABOTTA,GEORGIA 1596039788 $1,239.59 01/01/1998 360
600121695 GLAZEBROOK,SUSAN 1596052403 $358.21 01/01/1998 360
600121724 PAKSHIR,MOHAMMED 1617018263 $1,269.12 01/01/1998 360
600121734 CUBLER,BENJAMIN 1784036673 $943.94 01/01/1998 360
600121735 CONSTANCE,JOHN 1784036924 $1,537.42 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121634 KENTON,STEPHEN $47,200.00 N
600121637 TRAVIS,SHIRLEY $165,000.00 N
600121638 TORRES,AWILDA $74,500.00 N
600121639 BARNES,ROBERT $290,000.00 N
600121640 MARTIN,CHARLENE $107,000.00 N
600121641 ZINK,GEORGE $153,000.00 N
600121643 RODGERS,BOYCE $62,500.00 N
600121644 COMPTON,PETE $136,500.00 N
600121645 MARTIN,BETTE $285,000.00 N
600121668 FRABOTTA,GEORGIA $220,000.00 N
600121695 GLAZEBROOK,SUSAN $249,900.00 N
600121724 PAKSHIR,MOHAMMED $245,000.00 N
600121734 CUBLER,BENJAMIN $306,000.00 N
600121735 CONSTANCE,JOHN $300,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 70
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121746 COLATRELLA,KATHRYNE 9 PLYMOUTH ROAD STAMFORD CT 06907 $70,953.55
600121748 MALARKEY,BRIAN 2706 PLEASANT AVENUE MINNEAPOLIS MN 55408 $67,118.29
600121753 KOENIGSBERG,LEE 127 W 77TH ST APT A NEW YORK NY 10024 $214,456.01
600121754 COURT,DANIEL 71 WOODLAND DR YORKTOWN HEIGHT NY 10598 $153,896.67
600121763 COSGROVE,ROBERT 37 B HERITAGE DR UNIT NEW CITY NY 10956 $79,849.78
600121764 HAAS,JENIFER 3249 SHADOW PARK PL SAN JOSE CA 95121 $99,858.39
600121766 DAVIS,MINAKO 1781 NEIL ARMSTRONG S MONTEBELLO CA 90640 $63,647.21
600121767 JACKSON,RONALDO 5192 MAKATI CIR SAN JOSE CA 95123 $137,400.19
600121768 TILLES,DESMOND 1881 MIDDLE RIVER DR FORT LAUDERDALE FL 33305 $52,425.64
600121775 HIXSON,MARK 8129 HARRISON BAY RD HARRISON TN 37341 $70,402.64
600121776 BROWNING,J 7960 GREENSIDE COURT CHARLOTTE NC 28277 $72,698.65
600121779 LA,DOW 0140 HURD LANE B203 AVON CO 81620 $99,929.41
600121780 BOSWELL,R 4046 W SADDLEBACK RD PARK CITY UT 84098 $167,875.31
600121781 MOTIWALA,ARIF 211 E 5TH AVE 306 SALT LAKE CITY UT 84103 $100,384.09
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121746 COLATRELLA,KATHRYNE 8.125 .250 7.875 .0400 7.835 12/01/2027
600121748 MALARKEY,BRIAN 8.500 .250 8.250 .0400 8.210 11/01/2027
600121753 KOENIGSBERG,LEE 8.000 .250 7.750 .0400 7.710 12/01/2027
600121754 COURT,DANIEL 8.000 .250 7.750 .0400 7.710 12/01/2027
600121763 COSGROVE,ROBERT 8.375 .250 8.125 .0400 8.085 10/01/2027
600121764 HAAS,JENIFER 7.750 .250 7.500 .0400 7.460 11/01/2027
600121766 DAVIS,MINAKO 8.250 .250 8.000 .0400 7.960 11/01/2027
600121767 JACKSON,RONALDO 7.625 .250 7.375 .0400 7.335 11/01/2027
600121768 TILLES,DESMOND 7.750 .250 7.500 .0400 7.460 11/01/2027
600121775 HIXSON,MARK 7.875 .250 7.625 .0400 7.585 11/01/2027
600121776 BROWNING,J 7.750 .250 7.500 .0400 7.460 12/01/2027
600121779 LA,DOW 7.750 .250 7.500 .0400 7.460 12/01/2027
600121780 BOSWELL,R 7.500 .250 7.250 .0400 7.210 12/01/2027
600121781 MOTIWALA,ARIF 8.125 .250 7.875 .0400 7.835 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>
600121746 COLATRELLA,KATHRYNE 1580068539 $527.18 01/01/1998 360
600121748 MALARKEY,BRIAN 1583075508 $516.71 01/01/1998 360
600121753 KOENIGSBERG,LEE 1111126344 $1,574.66 01/01/1998 360
600121754 COURT,DANIEL 1111143558 $1,130.00 01/01/1998 360
600121763 COSGROVE,ROBERT 1500387004 $608.06 01/01/1998 360
600121764 HAAS,JENIFER 1506343330 $716.41 01/01/1998 360
600121766 DAVIS,MINAKO 1506357899 $478.93 01/01/1998 360
600121767 JACKSON,RONALDO 1506364147 $973.92 01/01/1998 360
600121768 TILLES,DESMOND 1511193112 $376.12 01/01/1998 360
600121775 HIXSON,MARK 1577101793 $511.18 01/01/1998 360
600121776 BROWNING,J 1577109423 $521.19 01/01/1998 360
600121779 LA,DOW 1579065533 $716.42 01/01/1998 360
600121780 BOSWELL,R 1579065555 $1,174.69 01/01/1998 360
600121781 MOTIWALA,ARIF 1579066467 $748.07 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121746 COLATRELLA,KATHRYNE $205,000.00 N
600121748 MALARKEY,BRIAN $96,000.00 N
600121753 KOENIGSBERG,LEE $610,000.00 N
600121754 COURT,DANIEL $220,000.00 N
600121763 COSGROVE,ROBERT $137,000.00 N
600121764 HAAS,JENIFER $125,000.00 N
600121766 DAVIS,MINAKO $85,000.00 N
600121767 JACKSON,RONALDO $172,000.00 N
600121768 TILLES,DESMOND $66,000.00 N
600121775 HIXSON,MARK $94,050.00 N
600121776 BROWNING,J $97,000.00 N
600121779 LA,DOW $350,000.00 N
600121780 BOSWELL,R $210,000.00 N
600121781 MOTIWALA,ARIF $155,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 71
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121782 BROWN,MARK 97C SOUTH AVENUE NEW CANAAN CT 06840 $159,695.33
600121783 NEWMAN,SANDRA 46 CREEK ROAD 3 PROVINCETOWN MA 02657 $78,950.89
600121784 MATHISON,SHIRLEY 19193 MEADOWRIDGE UNIT LIVONIA MI 48152 $71,951.68
600121787 SIMON,S 140 SW 96 TERRACE 30 PLANTATION FL 33324 $82,440.29
600121801 MCELROY,WILLIAM 1 HIGH MEADOWS DR MULLICA HILL NJ 08062 $164,572.44
600121804 SOMPLASKY,JOHN 105 PERSIMMON DR COLLEGEVILLE PA 19426 $200,835.24
600121820 ZAMORA,ISMAEL 7017 SW 128 COURT MIAMI FL 33183 $74,348.80
600121832 PITTMAN,WILLIAM 48 BOBKAT LANE HAGUE NY 12836 $68,909.43
600121849 SCHOONOVER,K 3893 CINCO AMIGOS SANTA BARBARA CA 93105 $139,796.70
600121861 BESSELL,GERALD 9202 LINDEN GROVE COU SILVER SPRINGS MD 20910 $215,958.83
600121869 BARRON,SUZANNE 12314 ASHVILLE DR TAMPA FL 33626 $116,026.08
600121870 MINSHEW,HEATHER 3281 LONGIRON PLACE N LAWRENCEVILLE GA 30044 $65,826.42
600121878 SCHACHT,THOMAS 1144 MILL CREEK DRIVE JACKSONVILLE FL 32259 $181,672.23
600121895 YEAGER,ANN 3880 D COLORADO AVE BOULDER CO 80303 $80,144.66
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121782 BROWN,MARK 8.125 .250 7.875 .0400 7.835 12/01/2027
600121783 NEWMAN,SANDRA 8.375 .250 8.125 .0400 8.085 12/01/2027
600121784 MATHISON,SHIRLEY 8.000 .250 7.750 .0400 7.710 12/01/2027
600121787 SIMON,S 7.625 .250 7.375 .0400 7.335 12/01/2027
600121801 MCELROY,WILLIAM 7.875 .250 7.625 .0400 7.585 11/01/2027
600121804 SOMPLASKY,JOHN 7.000 .250 6.750 .0400 6.710 12/01/2027
600121820 ZAMORA,ISMAEL 7.875 .250 7.625 .0400 7.585 12/01/2027
600121832 PITTMAN,WILLIAM 8.125 .250 7.875 .0400 7.835 11/01/2027
600121849 SCHOONOVER,K 7.625 .250 7.375 .0400 7.335 11/01/2027
600121861 BESSELL,GERALD 8.000 .250 7.750 .0400 7.710 11/01/2027
600121869 BARRON,SUZANNE 8.250 .250 8.000 .0400 7.960 10/01/2027
600121870 MINSHEW,HEATHER 7.750 .250 7.500 .0400 7.460 11/01/2027
600121878 SCHACHT,THOMAS 7.375 .250 7.125 .0400 7.085 11/01/2027
600121895 YEAGER,ANN 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>
600121782 BROWN,MARK 1580063965 $1,188.00 01/01/1998 360
600121783 NEWMAN,SANDRA 1580064312 $600.46 01/01/1998 360
600121784 MATHISON,SHIRLEY 1581136270 $528.32 01/01/1998 360
600121787 SIMON,S 1589143892 $583.93 01/01/1998 360
600121801 MCELROY,WILLIAM 1161229509 $1,194.91 01/01/1998 360
600121804 SOMPLASKY,JOHN 1175042084 $1,337.26 01/01/1998 360
600121820 ZAMORA,ISMAEL 1311309439 $539.45 01/01/1998 360
600121832 PITTMAN,WILLIAM 1500394906 $512.32 01/01/1998 360
600121849 SCHOONOVER,K 1506370569 $990.91 01/01/1998 360
600121861 BESSELL,GERALD 1507339815 $1,586.77 01/01/1998 360
600121869 BARRON,SUZANNE 1511192095 $873.35 01/01/1998 360
600121870 MINSHEW,HEATHER 1511196788 $472.83 01/01/1998 360
600121878 SCHACHT,THOMAS 1511204343 $1,256.69 01/01/1998 360
600121895 YEAGER,ANN 1513199787 $595.85 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121782 BROWN,MARK $250,000.00 N
600121783 NEWMAN,SANDRA $125,000.00 N
600121784 MATHISON,SHIRLEY $142,000.00 N
600121787 SIMON,S $110,000.00 N
600121801 MCELROY,WILLIAM $206,000.00 N
600121804 SOMPLASKY,JOHN $251,594.00 N
600121820 ZAMORA,ISMAEL $93,000.00 N
600121832 PITTMAN,WILLIAM $210,000.00 N
600121849 SCHOONOVER,K $260,000.00 N
600121861 BESSELL,GERALD $293,000.00 N
600121869 BARRON,SUZANNE $155,000.00 N
600121870 MINSHEW,HEATHER $88,000.00 N
600121878 SCHACHT,THOMAS $308,265.00 N
600121895 YEAGER,ANN $107,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 72
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600121897 YOUNG,PAULA 512 W CHAMPAGNE DR CHANDLER AZ 85248 $149,782.19
600121899 BOURGOIN,BRIAN 13320 115TH AVENUE NOR KIRKLAND WA 98034 $159,875.19
600121914 NGUYEN,HOC 1026 PORTSMOUTH DRIVE PEARLAND TX 77584 $99,879.46
600121915 WOLFSON,SCOTT 7038 MADISON TRAIL HOUSTON TX 77095 $78,792.93
600121920 MEYER,ALLAN 6422 SINGING CREEK LA SPRING TX 77379 $110,315.99
600121921 MCKEON,WILLIAM 103 NORTH FLORAL LEA THE WOODLANDS TX 77381 $199,744.06
600121943 BROWN,C 7455 SW BUNKER POST C WILSONVILLE OR 97070 $133,900.55
600121946 DUCHEK,LINDA 12764 SE 123RD AVE CLACKAMAS OR 97015 $141,894.61
600121965 HARDY,KENNETH 1726 EAST PALO BLANCO GILBERT AZ 85296 $92,734.49
600121972 ANDERSON,GRANT 2227 WEST ISABELLA AV MESA AZ 85202 $103,933.68
600121976 DRAUTZ,JENNY 27427 PLAINVIEW DR KIOWA CO 80117 $121,409.82
600121980 TYRANSKY,MI 10359 KING COURT WESTMINSTER CO 80030 $129,796.56
600121986 CARFAGNO,MICHAEL 3015 GREENES WAY CIRC COLLEGEVILLE PA 19426 $98,876.56
600121994 STERN,DAVID 4901 NW 103RD AVENUE CORAL SPRINGS FL 33076 $186,756.62
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600121897 YOUNG,PAULA 7.625 .250 7.375 .0400 7.335 11/01/2027
600121899 BOURGOIN,BRIAN 7.250 .250 7.000 .0400 6.960 12/01/2027
600121914 NGUYEN,HOC 7.750 .250 7.500 .0400 7.460 12/01/2027
600121915 WOLFSON,SCOTT 7.625 .250 7.375 .0400 7.335 12/01/2027
600121920 MEYER,ALLAN 7.375 .250 7.125 .0400 7.085 12/01/2027
600121921 MCKEON,WILLIAM 7.250 .250 7.000 .0400 6.960 12/01/2027
600121943 BROWN,C 7.500 .250 7.250 .0400 7.210 12/01/2027
600121946 DUCHEK,LINDA 7.500 .250 7.250 .0400 7.210 12/01/2027
600121965 HARDY,KENNETH 7.750 .250 7.500 .0400 7.460 12/01/2027
600121972 ANDERSON,GRANT 8.250 .250 8.000 .0400 7.960 12/01/2027
600121976 DRAUTZ,JENNY 7.500 .250 7.250 .0400 7.210 12/01/2027
600121980 TYRANSKY,MI 7.250 .250 7.000 .0400 6.960 11/01/2027
600121986 CARFAGNO,MICHAEL 7.500 .250 7.250 .0400 7.210 12/01/2027
600121994 STERN,DAVID 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>
600121897 YOUNG,PAULA 1513202950 $1,061.69 01/01/1998 360
600121899 BOURGOIN,BRIAN 1513205755 $1,091.48 01/01/1998 360
600121914 NGUYEN,HOC 1521040082 $716.05 01/01/1998 360
600121915 WOLFSON,SCOTT 1521042871 $558.10 01/01/1998 360
600121920 MEYER,ALLAN 1532011610 $762.51 01/01/1998 360
600121921 MCKEON,WILLIAM 1532013026 $1,363.67 01/01/1998 360
600121943 BROWN,C 1565176252 $936.95 01/01/1998 360
600121946 DUCHEK,LINDA 1565177540 $992.89 01/01/1998 360
600121965 HARDY,KENNETH 1569174340 $664.84 01/01/1998 360
600121972 ANDERSON,GRANT 1569186860 $781.32 01/01/1998 360
600121976 DRAUTZ,JENNY 1579063120 $849.55 01/01/1998 360
600121980 TYRANSKY,MI 1579065034 $886.83 01/01/1998 360
600121986 CARFAGNO,MICHAEL 1587068184 $691.88 01/01/1998 360
600121994 STERN,DAVID 1589111309 $1,408.62 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600121897 YOUNG,PAULA $293,016.00 N
600121899 BOURGOIN,BRIAN $200,000.00 N
600121914 NGUYEN,HOC $124,990.00 N
600121915 WOLFSON,SCOTT $98,590.00 N
600121920 MEYER,ALLAN $138,000.00 N
600121921 MCKEON,WILLIAM $249,900.00 N
600121943 BROWN,C $350,000.00 N
600121946 DUCHEK,LINDA $180,000.00 N
600121965 HARDY,KENNETH $116,083.00 N
600121972 ANDERSON,GRANT $160,000.00 N
600121976 DRAUTZ,JENNY $162,000.00 N
600121980 TYRANSKY,MI $200,000.00 N
600121986 CARFAGNO,MICHAEL $148,950.00 N
600121994 STERN,DAVID $255,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 73
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600122000 KAPOOR,HARISH 6051 NW 60TH AVE PARKLAND FL 33067 $189,209.47
600122002 CHANIN,JEFFREY 6841 NW 104TH LN PARKLAND FL 33065 $149,891.42
600122003 LEVINE,SEYMOUR 3431 NW 110 WAY CORAL SPRINGS FL 33065 $56,958.74
600122006 MARCELLO,RAYMONDE 1746 ST TROPEZ COURT KISSIMMEE FL 34744 $34,978.24
600122007 WALL,GARY 107 OCEAN GARDEN LAN CAPE CANAVERAL FL 32920 $99,858.37
600122008 GUNDE,DAVID 3826 SUNFLOWER COURT MERRITT ISLAND FL 32953 $55,961.46
600122013 MEAD,MICHAEL 15 CALLE ARCOS RANCHO SANTA MA CA 92688 $133,607.99
600122035 BLIESNER,TRISTAN 15703 ERWIN COURT BOWIE MD 20716 $106,233.36
600122039 PLOURDE,MARJORIE 11611 BROMLEY VILLAGE RESTON VA 20194 $195,604.73
600122048 SHIFRIN,FRANCINE 651 VANDERBILT STREE BROOKLYN NY 11218 $31,979.07
600122050 CLINTON,DAVID 250 PARK PLACE APT. BROOKLYN NY 11238 $99,931.18
600122051 MARSHALL,DIANE 18-75 CORPORAL KENNEDY BAYSIDE NY 11360 $44,800.36
600122052 LA PROVIDENZA,PATRICIA 212-17 15TH AVENUE APT BAYSIDE NY 11360 $27,398.18
600122056 ALLON,URI 3901 INDEPENDENCE AVE RIVERDALE NY 10463 $61,712.59
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600122000 KAPOOR,HARISH 7.500 .250 7.250 .0400 7.210 12/01/2027
600122002 CHANIN,JEFFREY 7.625 .250 7.375 .0400 7.335 12/01/2027
600122003 LEVINE,SEYMOUR 7.625 .250 7.375 .0400 7.335 12/01/2027
600122006 MARCELLO,RAYMONDE 8.375 .250 8.125 .0400 8.085 12/01/2027
600122007 WALL,GARY 7.750 .250 7.500 .0400 7.460 11/01/2027
600122008 GUNDE,DAVID 7.875 .250 7.625 .0400 7.585 12/01/2027
600122013 MEAD,MICHAEL 7.875 .250 7.625 .0400 7.585 12/01/2027
600122035 BLIESNER,TRISTAN 7.250 .250 7.000 .0400 6.960 12/01/2027
600122039 PLOURDE,MARJORIE 7.500 .250 7.250 .0400 7.210 12/01/2027
600122048 SHIFRIN,FRANCINE 8.125 .250 7.875 .0400 7.835 12/01/2027
600122050 CLINTON,DAVID 7.875 .250 7.625 .0400 7.585 12/01/2027
600122051 MARSHALL,DIANE 8.750 .250 8.500 .0400 8.460 06/01/2027
600122052 LA PROVIDENZA,PATRICIA 8.500 .250 8.250 .0400 8.210 07/01/2027
600122056 ALLON,URI 8.500 .250 8.250 .0400 8.210 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>
600122000 KAPOOR,HARISH 1589145377 $1,323.97 01/01/1998 360
600122002 CHANIN,JEFFREY 1589146019 $1,061.70 01/01/1998 360
600122003 LEVINE,SEYMOUR 1589146030 $403.45 01/01/1998 360
600122006 MARCELLO,RAYMONDE 1590058190 $266.03 01/01/1998 360
600122007 WALL,GARY 1590058917 $716.42 01/01/1998 360
600122008 GUNDE,DAVID 1590060599 $406.04 01/01/1998 360
600122013 MEAD,MICHAEL 1595063572 $969.42 01/01/1998 360
600122035 BLIESNER,TRISTAN 1701135066 $725.84 01/01/1998 360
600122039 PLOURDE,MARJORIE 1761115555 $1,368.71 01/01/1998 360
600122048 SHIFRIN,FRANCINE 1106092538 $237.60 01/01/1998 360
600122050 CLINTON,DAVID 1106097928 $725.07 01/01/1998 360
600122051 MARSHALL,DIANE 1111100497 $354.02 01/01/1998 360
600122052 LA PROVIDENZA,PATRICIA 1111104840 $211.46 01/01/1998 360
600122056 ALLON,URI 1111129080 $474.81 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600122000 KAPOOR,HARISH $252,500.00 N
600122002 CHANIN,JEFFREY $350,000.00 N
600122003 LEVINE,SEYMOUR $120,000.00 N
600122006 MARCELLO,RAYMONDE $135,000.00 N
600122007 WALL,GARY $125,500.00 N
600122008 GUNDE,DAVID $113,450.00 N
600122013 MEAD,MICHAEL $180,000.00 N
600122035 BLIESNER,TRISTAN $133,000.00 N
600122039 PLOURDE,MARJORIE $261,000.00 N
600122048 SHIFRIN,FRANCINE $64,000.00 N
600122050 CLINTON,DAVID $140,000.00 N
600122051 MARSHALL,DIANE $66,500.00 N
600122052 LA PROVIDENZA,PATRICIA $57,500.00 N
600122056 ALLON,URI $95,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 74
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600122057 MOSHE,DIANE 63 E 9TH ST APT 7R NEW YORK NY 10003 $89,890.55
600122061 BETULOVICI,YULIAN 515 E 85TH ST UNIT P NEW YORK NY 10028 $122,421.88
600122063 HAMILTON,WILLIAM 245 W 104TH ST NEW YORK NY 10025 $104,924.00
600122064 WATTENBERG,MARC 6 BURNS ST UNIT G2 FOREST HILLS NY 11375 $80,447.33
600122065 SIEGEL,JONATHAN 150 E 93RD ST UNIT 8 NEW YORK NY 10128 $82,196.19
600122071 SIDI,GIL 209 W 104TH ST #1H NEW YORK NY 10025 $63,712.35
600122072 PALMER,SUE 1122 COLORADO STREET AUSTIN TX 78701 $90,232.98
600122073 KNAPPE,DOUGLAS 0441 ILLINOIS GULCH R BRECKENRIDGE CO 80424 $86,339.01
600122075 BAJBEK,RICHARD 4502 N FEDERAL HWY UN LIGHTHOUSE POIN FL 33064 $43,971.94
600122108 WASHINGTON,JOEY 3905 RANDALL LANE CARROLLTON TX 75010 $149,039.31
600122172 HELFRICH,JAMES 2995 E SUNSET RD B239 LAS VEGAS NV 89120 $74,330.00
600122219 LEUNG,MD 3199 HYLAN BLVD STATEN ISLAND NY 10306 $149,891.42
600122223 MENER,RONALD 1084 LAKESHORE DR MASSAPEQUA PARK NY 11762 $123,564.06
600122227 DANCOURT,MILET 8 PASADENA RD EASTCHESTER NY 10708 $209,595.50
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600122057 MOSHE,DIANE 8.500 .250 8.250 .0400 8.210 11/01/2027
600122061 BETULOVICI,YULIAN 8.250 .250 8.000 .0400 7.960 12/01/2027
600122063 HAMILTON,WILLIAM 7.625 .250 7.375 .0400 7.335 12/01/2027
600122064 WATTENBERG,MARC 8.125 .250 7.875 .0400 7.835 12/01/2027
600122065 SIEGEL,JONATHAN 8.125 .250 7.875 .0400 7.835 12/01/2027
600122071 SIDI,GIL 8.625 .250 8.375 .0400 8.335 12/01/2027
600122072 PALMER,SUE 7.500 .250 7.250 .0400 7.210 12/01/2027
600122073 KNAPPE,DOUGLAS 7.750 .250 7.500 .0400 7.460 12/01/2027
600122075 BAJBEK,RICHARD 8.250 .250 8.000 .0400 7.960 12/01/2027
600122108 WASHINGTON,JOEY 7.500 .250 7.250 .0400 7.210 12/01/2027
600122172 HELFRICH,JAMES 8.000 .250 7.750 .0400 7.710 08/01/2027
600122219 LEUNG,MD 7.625 .250 7.375 .0400 7.335 12/01/2027
600122223 MENER,RONALD 8.750 .250 8.500 .0400 8.460 07/01/2027
600122227 DANCOURT,MILET 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>
600122057 MOSHE,DIANE 1111131617 $692.03 01/01/1998 360
600122061 BETULOVICI,YULIAN 1111134411 $920.31 01/01/1998 360
600122063 HAMILTON,WILLIAM 1111138230 $743.19 01/01/1998 360
600122064 WATTENBERG,MARC 1111138933 $597.72 01/01/1998 360
600122065 SIEGEL,JONATHAN 1111139539 $610.71 01/01/1998 360
600122071 SIDI,GIL 1111136213 $495.85 01/01/1998 360
600122072 PALMER,SUE 1563177265 $631.39 01/01/1998 360
600122073 KNAPPE,DOUGLAS 1579066536 $618.99 01/01/1998 360
600122075 BAJBEK,RICHARD 1589140555 $330.56 01/01/1998 360
600122108 WASHINGTON,JOEY 1563180204 $1,042.88 2 01/01/1998 360
600122172 HELFRICH,JAMES 1513194692 $550.33 12 01/01/1998 360
600122219 LEUNG,MD 1106087403 $1,061.70 01/01/1998 360
600122223 MENER,RONALD 1111103270 $975.51 01/01/1998 360
600122227 DANCOURT,MILET 1111132824 $1,577.66 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600122057 MOSHE,DIANE $210,000.00 N
600122061 BETULOVICI,YULIAN $175,000.00 N
600122063 HAMILTON,WILLIAM $180,000.00 N
600122064 WATTENBERG,MARC $115,000.00 N
600122065 SIEGEL,JONATHAN $117,500.00 N
600122071 SIDI,GIL $85,000.00 N
600122072 PALMER,SUE $129,000.00 N
600122073 KNAPPE,DOUGLAS $108,000.00 N
600122075 BAJBEK,RICHARD $55,000.00 N
600122108 WASHINGTON,JOEY $158,160.00 N
600122172 HELFRICH,JAMES $86,000.00 N
600122219 LEUNG,MD $320,000.00 N
600122223 MENER,RONALD $155,000.00 N
600122227 DANCOURT,MILET $300,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 75
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600122250 SHOSHAN,ADI 47 STEPHEN TERRACE PARSIPPANY NJ 07054 $157,014.48
600122267 BOWDEN,ALAN 62 JANET DRIVE CATAULA GA 31804 $56,761.89
600122278 DUKE,KENNETH 1223 LAVETA WY COLORADO SPRING CO 80906 $121,436.27
600122281 LONG,JAMES 3509 COLUMBIA AVENUE LANCASTER PA 17603 $98,866.70
600122284 DIXON,WILLARD 1710 NAKOTA ROYAL OAK MI 48073 $78,294.43
600122287 VESCI,FRANK 17 ROSEMORE DRIVE CHALFONT BOROUG PA 18914 $126,908.08
600122288 KEBECK,STEVEN 14720 HOMECREST ROAD SILVER SPRING MD 20906 $161,144.52
600122297 KAY,DAVID 5315 WILKINSON AVE NO VALLEY VILLAGE CA 91607 $140,470.23
600122317 NGUYEN,TIEN 43786 MICHENER DRIVE ASHBURN VA 20167 $119,917.41
600122320 LITTLE,JOHN 55 PARK TERRACE EAS NEW YORK NY 10034 $37,775.27
600122321 GREEN,BARBARA 35 WEST 92ND STREET NEW YORK NY 10025 $135,906.40
600122322 VELLARDITA,NANCY 111 W 11TH ST NEW YORK NY 10011 $94,499.04
600122323 SHAPSHAL,MAYA 702 KATHLEEN PLACE A BROOKLYN NY 11235 $45,435.50
600122332 CHADURY,MAZHAR 485 E LINCOLN AVE #4 MOUNT VERNON NY 10552 $21,561.45
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600122250 SHOSHAN,ADI 8.000 .250 7.750 .0400 7.710 09/01/2027
600122267 BOWDEN,ALAN 8.000 .250 7.750 .0400 7.710 12/01/2027
600122278 DUKE,KENNETH 8.000 .250 7.750 .0400 7.710 11/01/2027
600122281 LONG,JAMES 8.000 .250 7.750 .0400 7.710 11/01/2027
600122284 DIXON,WILLARD 8.000 .250 7.750 .0400 7.710 11/01/2027
600122287 VESCI,FRANK 7.625 .250 7.375 .0400 7.335 12/01/2027
600122288 KEBECK,STEVEN 8.125 .250 7.875 .0400 7.835 12/01/2027
600122297 KAY,DAVID 7.500 .250 7.250 .0400 7.210 08/01/2027
600122317 NGUYEN,TIEN 7.875 .250 7.625 .0400 7.585 12/01/2027
600122320 LITTLE,JOHN 8.125 .250 7.875 .0400 7.835 12/01/2027
600122321 GREEN,BARBARA 7.875 .250 7.625 .0400 7.585 12/01/2027
600122322 VELLARDITA,NANCY 8.500 .250 8.250 .0400 8.210 07/01/2027
600122323 SHAPSHAL,MAYA 8.625 .250 8.375 .0400 8.335 07/01/2027
600122332 CHADURY,MAZHAR 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>
600122250 SHOSHAN,ADI 1500360063 $1,155.68 01/01/1998 360
600122267 BOWDEN,ALAN 1566115504 $416.78 01/01/1998 360
600122278 DUKE,KENNETH 1579062819 $892.26 01/01/1998 360
600122281 LONG,JAMES 1581120292 $726.43 01/01/1998 360
600122284 DIXON,WILLARD 1581137422 $575.28 01/01/1998 360
600122287 VESCI,FRANK 1587086721 $898.90 01/01/1998 360
600122288 KEBECK,STEVEN 1587086980 $1,197.28 01/01/1998 360
600122297 KAY,DAVID 1246023077 $985.89 01/01/1998 360
600122317 NGUYEN,TIEN 1587092961 $870.09 01/01/1998 360
600122320 LITTLE,JOHN 1106093712 $280.67 01/01/1998 360
600122321 GREEN,BARBARA 1106094238 $986.10 01/01/1998 360
600122322 VELLARDITA,NANCY 1111106096 $729.32 01/01/1998 360
600122323 SHAPSHAL,MAYA 1111107088 $354.68 01/01/1998 360
600122332 CHADURY,MAZHAR 1111129954 $168.01 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600122250 SHOSHAN,ADI $210,000.00 N
600122267 BOWDEN,ALAN $71,000.00 N
600122278 DUKE,KENNETH $186,000.00 N
600122281 LONG,JAMES $160,000.00 N
600122284 DIXON,WILLARD $112,000.00 N
600122287 VESCI,FRANK $175,000.00 N
600122288 KEBECK,STEVEN $215,000.00 N
600122297 KAY,DAVID $188,000.00 N
600122317 NGUYEN,TIEN $302,850.00 N
600122320 LITTLE,JOHN $54,000.00 N
600122321 GREEN,BARBARA $210,000.00 N
600122322 VELLARDITA,NANCY $126,500.00 N
600122323 SHAPSHAL,MAYA $65,000.00 N
600122332 CHADURY,MAZHAR $27,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 76
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600122343 SALAZAR,ALEXANDER 16149 RISLEY STREET WHITTIER CA 90603 $159,387.60
610000051 FRED JAVAHERI 19115 BESSEMER STREET LOS ANGELES CA 91335 $109,836.21
610000054 MANUEL,ADELAIDA ALMOJUEL 14 CHRISTEN AVENUE DALY CITY CA 94015 $223,175.45
610000057 PETER,KATHLEEN BRESKA 1565 NIPOMO AVENUE LOS OSOS CA 93402 $149,643.00
610000060 MARK OSHIMA 7 WHISPERING PINE IRVINE CA 92620 $181,901.64
610000078 WILLIAM,RENA VILT 405 BUCHANAN STREET SAN FRANCISCO CA 94102 $219,696.21
610000079 RONALD,TERRY OWNING 13017 BORDEN ROAD HERALD CA 95638 $112,843.95
610000083 DAVID,RENE QUIRKE 3604 REINOSO COURT SAN JOSE CA 95136 $219,696.21
610000103 KRISTEN/DEBORAH HERMANSO 22 FRUSTUCK AVENUE FAIRFAX CA 94930 $223,713.34
610000108 CAROLE GROTE 4743 MOUNTAINBROOK ROAD SANTA YSABEL CA 92070 $152,809.14
610000110 NEIL,HEIDI WARDLE 11318 SOUTH JANALYNN DRIV SOUTH JORDAN UT 84095 $179,670.56
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600122343 SALAZAR,ALEXANDER 7.750 .250 7.500 .0400 7.460 08/01/2027
610000051 FRED JAVAHERI 7.500 .250 7.250 .0500 7.200 11/01/2027
610000054 MANUEL,ADELAIDA ALMOJUEL 7.625 .250 7.375 .0500 7.325 11/01/2027
610000057 PETER,KATHLEEN BRESKA 7.625 .250 7.375 .0500 7.325 11/01/2027
610000060 MARK OSHIMA 7.625 .250 7.375 .0500 7.325 10/01/2027
610000078 WILLIAM,RENA VILT 7.875 .250 7.625 .0500 7.575 11/01/2027
610000079 RONALD,TERRY OWNING 7.875 .250 7.625 .0500 7.575 11/01/2027
610000083 DAVID,RENE QUIRKE 7.875 .250 7.625 .0500 7.575 11/01/2027
610000103 KRISTEN/DEBORAH HERMANSO 8.250 .250 8.000 .0500 7.950 11/01/2027
610000108 CAROLE GROTE 8.375 .250 8.125 .0500 8.075 11/01/2027
610000110 NEIL,HEIDI WARDLE 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>
600122343 SALAZAR,ALEXANDER 1113053911 $1,147.69 3 01/01/1998 360
610000051 FRED JAVAHERI 0092469648 $769.14 01/01/1998 360
610000054 MANUEL,ADELAIDA ALMOJUEL 0092469651 $1,581.92 01/01/1998 360
610000057 PETER,KATHLEEN BRESKA 0092469655 $1,061.69 01/01/1998 360
610000060 MARK OSHIMA 0092469660 $1,290.31 01/01/1998 360
610000078 WILLIAM,RENA VILT 0092469637 $1,595.15 01/01/1998 360
610000079 RONALD,TERRY OWNING 0092469641 $819.33 01/01/1998 360
610000083 DAVID,RENE QUIRKE 0092469676 $1,595.15 01/01/1998 360
610000103 KRISTEN/DEBORAH HERMANSO 0092469740 $1,682.84 01/01/1998 360
610000108 CAROLE GROTE 0092469748 $1,162.91 01/01/1998 360
610000110 NEIL,HEIDI WARDLE 0092469752 $1,384.04 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600122343 SALAZAR,ALEXANDER $178,000.00 N
610000051 FRED JAVAHERI .00 .00 .00 .000 .250 .300 $162,000.00 N
610000054 MANUEL,ADELAIDA ALMOJUEL .00 .00 .00 .000 .250 .300 $290,000.00 N
610000057 PETER,KATHLEEN BRESKA .00 .00 .00 .000 .250 .300 $230,000.00 N
610000060 MARK OSHIMA .00 .00 .00 .000 .250 .300 $227,900.00 N
610000078 WILLIAM,RENA VILT .00 .00 .00 .000 .250 .300 $350,000.00 N
610000079 RONALD,TERRY OWNING .00 .00 .00 .000 .250 .300 $176,000.00 N
610000083 DAVID,RENE QUIRKE .00 .00 .00 .000 .250 .300 $275,000.00 N
610000103 KRISTEN/DEBORAH HERMANSO .00 .00 .00 .000 .250 .300 $280,000.00 N
610000108 CAROLE GROTE .00 .00 .00 .000 .250 .300 $220,000.00 N
610000110 NEIL,HEIDI WARDLE .00 .00 .00 .000 .250 .300 $274,468.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 77
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 15:07:00 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/27/1998
POOL NUMBER: 3 POOL NAME: 1998-1 Group 3
<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
----- ------- ------- --------- --------- -----
<S> <C> <C> <C> <C> <C> <C>
** POOL
** TOTAL 1061 0 128,532,742.83 181,898,583.80 130,489,511.49 951,498.25
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 1
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107090 REDDING LATHAM 401 EASTLAWN AVENUE DETROIT MI 48215 $42,320.84
600107091 SHAW GLENN 459 DEUCE DRIVE WALL NJ 07719 $79,195.69
600107092 HORSMAN SARAH 2585 HERSCHEL STREET ST. PAUL MN 55113 $80,833.71
600107093 BRIGHT LINDA RT 1 BOX 567 PORT REPUBL VA 24471 $87,466.78
600107095 PREY PETER 519 PEPPERMILL CIR KISSIMMEE FL 34759 $62,588.95
600107096 KEARBEY THOMAS 24148 TALLMAN AVE. WARREN MI 48089 $58,306.12
600107097 SOCIE EDWARD 311 E WALLACE STREET ORLANDO FL 32809 $43,148.31
600107098 RIVERS ROBERT 792 SAINT CHARLES AVENUE ATLANTA GA 30306 $111,357.64
600107099 DEMARIE DWAYNE 3017 WINDSOR AVENUE W PALM BEAC FL 33406 $41,060.49
600107100 MCKEGNEY KEVIN 10 RUSSELL STREET BURLINGTON VT 05401 $69,598.52
600107101 GOVE SCOTT 15 PLEASANT STREET EXETER NH 03833 $98,432.19
600107102 MEYERS KENNETH 444 FIRST STREET HUNTINGTON IN 46750 $25,567.95
600107104 MILLER GREGORY 8750 NE ALBERTA STREET PORTLAND OR 97220 $59,659.65
600107105 NAZON-CHENG KAREN 8113 WATERS AVE SAVANNAH GA 31406 $31,052.59
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107090 REDDING LATHAM 8.250 .250 8.000 .0500 7.950 10/01/2012
600107091 SHAW GLENN 8.250 .250 8.000 .0500 7.950 11/01/2012
600107092 HORSMAN SARAH 8.125 .250 7.875 .0500 7.825 11/01/2012
600107093 BRIGHT LINDA 7.500 .250 7.250 .0500 7.200 11/01/2012
600107095 PREY PETER 8.125 .250 7.875 .0500 7.825 11/01/2012
600107096 KEARBEY THOMAS 7.875 .250 7.625 .0500 7.575 11/01/2012
600107097 SOCIE EDWARD 8.000 .250 7.750 .0500 7.700 11/01/2012
600107098 RIVERS ROBERT 8.125 .250 7.875 .0500 7.825 11/01/2012
600107099 DEMARIE DWAYNE 8.000 .250 7.750 .0500 7.700 11/01/2012
600107100 MCKEGNEY KEVIN 8.125 .250 7.875 .0500 7.825 11/01/2012
600107101 GOVE SCOTT 8.125 .250 7.875 .0500 7.825 11/01/2012
600107102 MEYERS KENNETH 8.125 .250 7.875 .0500 7.825 12/01/2012
600107104 MILLER GREGORY 8.250 .250 8.000 .0500 7.950 11/01/2012
600107105 NAZON-CHENG KAREN 8.000 .250 7.750 .0500 7.700 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600107090 REDDING LATHAM 450843842 $414.25 01/01/1998 180
600107091 SHAW GLENN 450880992 $774.66 01/01/1998 180
600107092 HORSMAN SARAH 450881115 $782.83 01/01/1998 180
600107093 BRIGHT LINDA 450884101 $815.78 01/01/1998 180
600107095 PREY PETER 450899125 $606.14 01/01/1998 180
600107096 KEARBEY THOMAS 450901772 $556.27 2 01/01/1998 180
600107097 SOCIE EDWARD 450909858 $414.76 01/01/1998 180
600107098 RIVERS ROBERT 450910377 $1,078.43 01/01/1998 180
600107099 DEMARIE DWAYNE 450910708 $394.69 01/01/1998 180
600107100 MCKEGNEY KEVIN 450912522 $674.02 01/01/1998 180
600107101 GOVE SCOTT 450916044 $953.26 2 01/01/1998 180
600107102 MEYERS KENNETH 450917828 $246.98 2 01/01/1998 180
600107104 MILLER GREGORY 450920277 $582.09 01/01/1998 180
600107105 NAZON-CHENG KAREN 450928098 $298.17 01/01/1998 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>
600107090 REDDING LATHAM .00 .00 .00 .000 .250 .300 $61,000.00 N
600107091 SHAW GLENN .00 .00 .00 .000 .250 .300 $122,900.00 N
600107092 HORSMAN SARAH .00 .00 .00 .000 .250 .300 $125,000.00 N
600107093 BRIGHT LINDA .00 .00 .00 .000 .250 .300 $175,000.00 N
600107095 PREY PETER .00 .00 .00 .000 .250 .300 $101,904.00 N
600107096 KEARBEY THOMAS .00 .00 .00 .000 .250 .300 $69,000.00 N
600107097 SOCIE EDWARD .00 .00 .00 .000 .250 .300 $62,000.00 N
600107098 RIVERS ROBERT .00 .00 .00 .000 .250 .300 $170,000.00 N
600107099 DEMARIE DWAYNE .00 .00 .00 .000 .250 .300 $65,000.00 N
600107100 MCKEGNEY KEVIN .00 .00 .00 .000 .250 .300 $110,500.00 N
600107101 GOVE SCOTT .00 .00 .00 .000 .250 .300 $110,000.00 N
600107102 MEYERS KENNETH .00 .00 .00 .000 .250 .300 $28,500.00 N
600107104 MILLER GREGORY .00 .00 .00 .000 .250 .300 $115,000.00 N
600107105 NAZON-CHENG KAREN .00 .00 .00 .000 .250 .300 $48,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 2
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600107106 MUSSER WILLIAM 1360 ALTA WAY HANFORD CA 93230 $53,845.67
600107107 SHARP THOMAS 1321 WYNDCLIFF DRIVE WELLINGTON FL 33414 $69,797.71
600107108 NUTCHER ARTHUR 2224 GLEN AVENUE MERCED CA 95340 $44,421.25
600107109 TUBBS JOHN 345 E ROSE GARDEN COURT MANTECA CA 95336 $114,660.24
600109180 Gossett 490 South River Landing Edgewater MD 21037 $159,392.10
600116356 Yerramsetti,Narasimha 1976 Sondrio Drive Las Vegas NV 89134 $89,031.81
600116364 Telford,Jim L. 2729 Hunters Court Ogden UT 84401 $41,455.90
600116365 Telford,Jim L. 2728-2732 Hunters Court Ogden UT 84401 $49,736.35
600116366 Hollister,Paula K. 1712 East 3rd Avenue Spokane WA 99202 $44,537.32
600116368 LePore,Lonnie 311 Montford Ave Asheville NC 28801 $204,021.92
600116370 Schwartz,Margaret H 13666 Exotica Lane West Palm Beach FL 33414 $116,772.83
600116371 Sidhu,Nirmal Singh 2643 River Creek Circle Modesto CA 95351 $82,811.35
600116380 Bechamp,Louise 5100 Sw 64 Avenue Unit 20 Davie FL 33314 $35,183.40
600116390 Carter,James 68 West Street Oneonta NY 13820 $28,243.08
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600107106 MUSSER WILLIAM 8.125 .250 7.875 .0500 7.825 12/01/2012
600107107 SHARP THOMAS 8.000 .250 7.750 .0500 7.700 12/01/2012
600107108 NUTCHER ARTHUR 8.000 .250 7.750 .0500 7.700 12/01/2012
600107109 TUBBS JOHN 7.750 .250 7.500 .0500 7.450 12/01/2012
600109180 Gossett 7.250 .250 7.000 .0500 6.950 10/01/2006
600116356 Yerramsetti,Narasimha 8.750 .250 8.500 .0500 8.450 03/01/2012
600116364 Telford,Jim L. 8.500 .250 8.250 .0500 8.200 04/01/2012
600116365 Telford,Jim L. 8.875 .250 8.625 .0500 8.575 04/01/2012
600116366 Hollister,Paula K. 7.875 .250 7.625 .0500 7.575 11/01/2012
600116368 LePore,Lonnie 8.250 .250 8.000 .0500 7.950 04/01/2012
600116370 Schwartz,Margaret H 9.500 .250 9.250 .0500 9.200 05/01/2012
600116371 Sidhu,Nirmal Singh 8.125 .250 7.875 .0500 7.825 05/01/2012
600116380 Bechamp,Louise 8.500 .250 8.250 .0500 8.200 05/01/2012
600116390 Carter,James 8.750 .250 8.500 .0500 8.450 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>
600107106 MUSSER WILLIAM 450932496 $519.96 2 01/01/1998 180
600107107 SHARP THOMAS 450934096 $668.96 01/01/1998 180
600107108 NUTCHER ARTHUR 450936869 $425.75 2 01/01/1998 180
600107109 TUBBS JOHN 450943352 $1,082.47 01/01/1998 180
600109180 Gossett 39042361 $2,054.52 01/01/1998 120
600116356 Yerramsetti,Narasimha 198163 $916.00 01/01/1998 180
600116364 Telford,Jim L. 248516 $420.48 01/01/1998 180
600116365 Telford,Jim L. 248509 $513.49 01/01/1998 180
600116366 Hollister,Paula K. 273379 $424.91 01/01/1998 180
600116368 LePore,Lonnie 221331 $2,032.44 01/01/1998 180
600116370 Schwartz,Margaret H 233990 $1,245.23 01/01/1998 180
600116371 Sidhu,Nirmal Singh 242028 $816.53 01/01/1998 180
600116380 Bechamp,Louise 240104 $354.51 01/01/1998 180
600116390 Carter,James 231258 $287.84 7 01/01/1998 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>
600107106 MUSSER WILLIAM .00 .00 .00 .000 .250 .300 $60,000.00 N
600107107 SHARP THOMAS .00 .00 .00 .000 .250 .300 $110,000.00 N
600107108 NUTCHER ARTHUR .00 .00 .00 .000 .250 .300 $49,500.00 N
600107109 TUBBS JOHN .00 .00 .00 .000 .250 .300 $205,000.00 N
600109180 Gossett .00 .00 .00 .000 .250 .300 $655,000.00 N
600116356 Yerramsetti,Narasimha $130,950.00 N
600116364 Telford,Jim L. $61,000.00 N
600116365 Telford,Jim L. $78,500.00 N
600116366 Hollister,Paula K. $56,000.00 N
600116368 LePore,Lonnie $267,500.00 N
600116370 Schwartz,Margaret H $159,000.00 N
600116371 Sidhu,Nirmal Singh $106,000.00 N
600116380 Bechamp,Louise $45,000.00 N
600116390 Carter,James $32,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 3
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116427 Young,Kenneth R 537 Outlook Drive Twin Lakes WI 53181 $69,703.64
600116433 Gayr,Tamir 32 Fairview Ave N Woodmere NY 11581 $137,202.75
600116444 Bannout,Vivian 23 Birch Street West Orange NJ 07052 $119,395.51
600116449 Soard,Charles M. 2622 South Athena Street Mesa AZ 85208 $60,473.11
600116459 Moore,Hamilton D. Lot No. 69 Section L Coolbaugh Towns PA 18466 $69,434.34
600116463 Martinson,Leonard N. 2285 North Country Club D Flagstaff AZ 86004 $147,440.12
600116466 Conway,Virginia M 1677 High Plains Court Louisville CO 80027 $34,440.74
600116471 Dixon,Alphonse R. West Ridge Road Easton ME 04740 $74,915.94
600116476 Jacobsen,Eric G. 2714 Parkview Drive Riva MD 21140 $49,183.89
600116486 Mogollon,Fernando 2418 Windbreak Drive Alexandria VA 22306 $103,265.90
600116488 Phan,Phoi V. 1388 Omara Drive Union NJ 07083 $119,537.01
600116492 Branham,Daniel B 509 Roe Ingleside Road Centreville MD 21617 $83,119.65
600116493 Edwards,Yvonne M. 5904 Glen Eagles Lane Las Vegas NV 89108 $43,240.90
600116496 Grasso,Paulo 10 Hughes Place Huntington Stat NY 11746 $127,805.49
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116427 Young,Kenneth R 8.250 .250 8.000 .0500 7.950 06/01/2012
600116433 Gayr,Tamir 8.375 .250 8.125 .0500 8.075 06/01/2012
600116444 Bannout,Vivian 8.750 .250 8.500 .0500 8.450 06/01/2012
600116449 Soard,Charles M. 8.625 .250 8.375 .0500 8.325 07/01/2012
600116459 Moore,Hamilton D. 9.750 .250 9.500 .0500 9.450 07/01/2012
600116463 Martinson,Leonard N. 8.375 .250 8.125 .0500 8.075 07/01/2012
600116466 Conway,Virginia M 9.125 .250 8.875 .0500 8.825 07/01/2012
600116471 Dixon,Alphonse R. 8.875 .250 8.625 .0500 8.575 07/01/2012
600116476 Jacobsen,Eric G. 9.250 .250 9.000 .0500 8.950 07/01/2012
600116486 Mogollon,Fernando 8.750 .250 8.500 .0500 8.450 07/01/2012
600116488 Phan,Phoi V. 9.000 .250 8.750 .0500 8.700 07/01/2012
600116492 Branham,Daniel B 8.875 .250 8.625 .0500 8.575 07/01/2012
600116493 Edwards,Yvonne M. 8.250 .250 8.000 .0500 7.950 07/01/2012
600116496 Grasso,Paulo 8.500 .250 8.250 .0500 8.200 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>
600116427 Young,Kenneth R 259496 $690.51 01/01/1998 180
600116433 Gayr,Tamir 245556 $1,368.40 01/01/1998 180
600116444 Bannout,Vivian 233684 $1,216.83 01/01/1998 180
600116449 Soard,Charles M. 244537 $610.13 01/01/1998 180
600116459 Moore,Hamilton D. 249889 $746.85 01/01/1998 180
600116463 Martinson,Leonard N. 247686 $1,466.14 01/01/1998 180
600116466 Conway,Virginia M 246520 $357.60 01/01/1998 180
600116471 Dixon,Alphonse R. 259277 $766.81 01/01/1998 180
600116476 Jacobsen,Eric G. 251782 $514.60 01/01/1998 180
600116486 Mogollon,Fernando 249199 $1,049.42 01/01/1998 180
600116488 Phan,Phoi V. 250655 $1,232.34 01/01/1998 180
600116492 Branham,Daniel B 250324 $850.79 01/01/1998 180
600116493 Edwards,Yvonne M. 249826 $426.86 01/01/1998 180
600116496 Grasso,Paulo 249186 $1,280.16 01/01/1998 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>
600116427 Young,Kenneth R $102,200.00 N
600116433 Gayr,Tamir $200,000.00 N
600116444 Bannout,Vivian $152,200.00 N
600116449 Soard,Charles M. $123,000.00 N
600116459 Moore,Hamilton D. $94,000.00 N
600116463 Martinson,Leonard N. $220,000.00 N
600116466 Conway,Virginia M $163,000.00 N
600116471 Dixon,Alphonse R. $166,500.00 N
600116476 Jacobsen,Eric G. $180,000.00 N
600116486 Mogollon,Fernando $140,000.00 N
600116488 Phan,Phoi V. $162,000.00 N
600116492 Branham,Daniel B $255,000.00 N
600116493 Edwards,Yvonne M. $99,000.00 N
600116496 Grasso,Paulo $280,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 4
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116505 Repoli,Michael & Catherin 102 Kentucky Street Long Beach NY 11561 $132,008.06
600116506 Mukati,Mohammad Sharif 310 N W 195 Avenue Pembroke Pines FL 33029 $171,674.93
600116510 Wysocke,Janie L 6 Hawthorne Circle Albany NY 12203 $92,019.93
600116513 Morales,Mateo 17224 Old Lyme #1901 San Antonio TX 78248 $84,856.50
600116514 Puzzo,Salvatore 86-10 151st Avenue Unit Howard Beach NY 11414 $39,402.07
600116515 Gonzalez Cardona,Ines Cec 10020 S.w. 146 Place Miami FL 33186 $69,113.23
600116521 Tai,Meei-ru Yang 46776 Fernald Street Fremont CA 94539 $117,929.69
600116525 Roubidoux,Carol J. 12320 East 116th Circle Henderson CO 80640 $62,300.56
600116526 Ieropoli,Joseph 9260 Avon Road Salineville OH 43945 $52,134.95
600116530 Pham,Michael 15136 Ne Graham Street Portland OR 97230 $117,929.32
600116532 Kostibos,John J. 93 Richard Mine Road Dover NJ 07801 $125,300.29
600116533 Telford,Jim L. 2719 South Monroe Bouleva Ogden UT 84401 $40,984.50
600116536 Phan,Long K 7756 Canby Avenue Reseda CA 91335 $154,934.08
600116538 Odesser,Paul 439 And 443 Magie Avnue Elizabeth NJ 07201 $106,973.58
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116505 Repoli,Michael & Catherin 8.375 .250 8.125 .0500 8.075 07/01/2012
600116506 Mukati,Mohammad Sharif 8.375 .250 8.125 .0500 8.075 07/01/2012
600116510 Wysocke,Janie L 8.500 .250 8.250 .0500 8.200 07/01/2012
600116513 Morales,Mateo 9.000 .250 8.750 .0500 8.700 07/01/2012
600116514 Puzzo,Salvatore 9.875 .250 9.625 .0500 9.575 07/01/2012
600116515 Gonzalez Cardona,Ines Cec 8.500 .250 8.250 .0500 8.200 07/01/2012
600116521 Tai,Meei-ru Yang 8.250 .250 8.000 .0500 7.950 07/01/2012
600116525 Roubidoux,Carol J. 7.875 .250 7.625 .0500 7.575 07/01/2012
600116526 Ieropoli,Joseph 9.250 .250 9.000 .0500 8.950 07/01/2012
600116530 Pham,Michael 8.250 .250 8.000 .0500 7.950 07/01/2012
600116532 Kostibos,John J. 8.250 .250 8.000 .0500 7.950 07/01/2012
600116533 Telford,Jim L. 9.125 .250 8.875 .0500 8.825 07/01/2012
600116536 Phan,Long K 8.125 .250 7.875 .0500 7.825 07/01/2012
600116538 Odesser,Paul 8.875 .250 8.625 .0500 8.575 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>
600116505 Repoli,Michael & Catherin 244854 $1,312.68 14 01/01/1998 180
600116506 Mukati,Mohammad Sharif 249247 $1,710.50 01/01/1998 180
600116510 Wysocke,Janie L 248693 $921.72 01/01/1998 180
600116513 Morales,Mateo 247507 $874.81 01/01/1998 180
600116514 Puzzo,Salvatore 244876 $426.79 01/01/1998 180
600116515 Gonzalez Cardona,Ines Cec 250466 $692.28 01/01/1998 180
600116521 Tai,Meei-ru Yang 250804 $1,164.17 01/01/1998 180
600116525 Roubidoux,Carol J. 249810 $602.27 01/01/1998 180
600116526 Ieropoli,Joseph 247584 $545.47 01/01/1998 180
600116530 Pham,Michael 252521 $1,164.17 01/01/1998 180
600116532 Kostibos,John J. 243297 $1,236.93 01/01/1998 180
600116533 Telford,Jim L. 246538 $425.54 01/01/1998 180
600116536 Phan,Long K 249140 $1,617.64 01/01/1998 180
600116538 Odesser,Paul 248401 $1,094.94 01/01/1998 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>
600116505 Repoli,Michael & Catherin $158,000.00 N
600116506 Mukati,Mohammad Sharif $250,000.00 N
600116510 Wysocke,Janie L $117,000.00 N
600116513 Morales,Mateo $115,000.00 N
600116514 Puzzo,Salvatore $66,000.00 N
600116515 Gonzalez Cardona,Ines Cec $123,000.00 N
600116521 Tai,Meei-ru Yang $169,000.00 N
600116525 Roubidoux,Carol J. $222,000.00 N
600116526 Ieropoli,Joseph $71,000.00 N
600116530 Pham,Michael $189,000.00 N
600116532 Kostibos,John J. $170,000.00 N
600116533 Telford,Jim L. $59,500.00 N
600116536 Phan,Long K $230,000.00 N
600116538 Odesser,Paul $145,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 5
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116543 Sandras,Warner A. 2716 Cypress Lawn Drive Marrero LA 70072 $154,898.84
600116544 Guerrero,Jorge 3032 Rockford Drive Dallas TX 75211 $29,493.53
600116548 Walker,Mary L 1493 Keystone Road #2955 Dillon CO 80435 $84,118.63
600116549 Martinez,Efren 4423 South Zenobia Street Denver CO 80236 $113,042.45
600116550 Jacelon,Edgar A 225 Lake Josephine Shores Sebring FL 33870 $60,895.02
600116551 Lafontaine,Miguel A. 3113-15 Banks Street New Orleans LA 70119 $29,504.56
600116558 Arocha,Alberto 1041 West 46 Street Hialeah FL 33012 $37,437.44
600116561 Workman,Ottis T. 6009 State Route 107 East Palestine OH 44413 $52,782.42
600116562 Ross,Mark A 8593 West Rue De Lamour Peoria AZ 85381 $95,836.62
600116563 Ness,Ruth H. 110 South 62nd Street Tacoma WA 98408 $44,353.92
600116564 Lee,Gun Suk 8447 North Dearing Avenue Fresno CA 93720 $151,399.05
600116567 Garcia,Alvaro 120 Heather Circle Newburgh NY 12550 $98,470.95
600116570 Kliner,Mark A. 8140 Cottonridge Circle Sacramento CA 95828 $27,025.66
600116571 Barden,David J. 5451 & 5461 B Street Sacramento CA 95819 $96,103.04
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116543 Sandras,Warner A. 8.750 .250 8.500 .0500 8.450 07/01/2012
600116544 Guerrero,Jorge 8.500 .250 8.250 .0500 8.200 07/01/2012
600116548 Walker,Mary L 9.000 .250 8.750 .0500 8.700 07/01/2012
600116549 Martinez,Efren 8.750 .250 8.500 .0500 8.450 07/01/2012
600116550 Jacelon,Edgar A 7.875 .250 7.625 .0500 7.575 07/01/2012
600116551 Lafontaine,Miguel A. 8.750 .250 8.500 .0500 8.450 07/01/2012
600116558 Arocha,Alberto 7.875 .250 7.625 .0500 7.575 08/01/2012
600116561 Workman,Ottis T. 9.000 .250 8.750 .0500 8.700 08/01/2012
600116562 Ross,Mark A 7.375 .250 7.125 .0500 7.075 08/01/2012
600116563 Ness,Ruth H. 8.250 .250 8.000 .0500 7.950 08/01/2012
600116564 Lee,Gun Suk 7.500 .250 7.250 .0500 7.200 08/01/2012
600116567 Garcia,Alvaro 7.500 .250 7.250 .0500 7.200 08/01/2012
600116570 Kliner,Mark A. 8.500 .250 8.250 .0500 8.200 08/01/2012
600116571 Barden,David J. 8.250 .250 8.000 .0500 7.950 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>
600116543 Sandras,Warner A. 251863 $1,574.13 01/01/1998 180
600116544 Guerrero,Jorge 252335 $295.43 01/01/1998 180
600116548 Walker,Mary L 248167 $867.20 01/01/1998 180
600116549 Martinez,Efren 250524 $1,149.37 01/01/1998 180
600116550 Jacelon,Edgar A 257069 $588.04 01/01/1998 180
600116551 Lafontaine,Miguel A. 252006 $299.83 01/01/1998 180
600116558 Arocha,Alberto 251411 $360.42 01/01/1998 180
600116561 Workman,Ottis T. 251076 $542.63 01/01/1998 180
600116562 Ross,Mark A 252506 $895.55 01/01/1998 180
600116563 Ness,Ruth H. 254329 $436.56 01/01/1998 180
600116564 Lee,Gun Suk 254683 $1,425.29 01/01/1998 180
600116567 Garcia,Alvaro 250113 $927.01 01/01/1998 180
600116570 Kliner,Mark A. 262431 $270.81 01/01/1998 180
600116571 Barden,David J. 254123 $945.89 01/01/1998 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>
600116543 Sandras,Warner A. $213,500.00 N
600116544 Guerrero,Jorge $59,900.00 N
600116548 Walker,Mary L $114,000.00 N
600116549 Martinez,Efren $225,000.00 N
600116550 Jacelon,Edgar A $135,000.00 N
600116551 Lafontaine,Miguel A. $105,000.00 N
600116558 Arocha,Alberto $137,000.00 N
600116561 Workman,Ottis T. $72,000.00 N
600116562 Ross,Mark A $130,000.00 N
600116563 Ness,Ruth H. $100,000.00 N
600116564 Lee,Gun Suk $205,000.00 N
600116567 Garcia,Alvaro $143,000.00 N
600116570 Kliner,Mark A. $95,000.00 N
600116571 Barden,David J. $170,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 6
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116573 Maldonado,Norberto 1423 Garza Avenue Dallas TX 75216 $19,676.89
600116576 Caponigro,John A. 607 Market Street Bangor Borough PA 18013 $70,946.16
600116579 Yates,Clive M. 433-b Disharoon Ridge Jasper GA 30143 $40,553.64
600116580 Roach,William H 791 Ocean Avenue Bohemia NY 11716 $88,361.10
600116581 Kuller,Jeffrey 188 Redwood Road Sag Harbor NY 11963 $184,900.43
600116582 Telford,Jim L. 3158 Kiesel Ave Ogden UT 84403 $34,535.72
600116583 Huesgen,Gregor 0342 Doris Drive Breckenridge CO 80424 $161,453.13
600116584 Assil,Mohamed Samir 12009 Overland Court Fontana CA 92337 $124,233.81
600116585 Hoffman,John P. 2312 Edmunds Avenue Modesto CA 95356 $62,816.49
600116587 Telford,Jim L. 671 East 2735 South Ogden UT 84401 $48,350.01
600116590 Graham,Rob 2806 Navajo Ave. Fort Pierce FL 34946 $51,826.46
600116591 Graham,Rob 1607 N. 23rd St. Fort Pierce FL 34947 $38,499.63
600116595 Karimian,Effat K. 33 West Reed Avenue Alexandria VA 22305 $59,238.80
600116597 O Donnell,Michael D. 217 16th Street Southeast Auburn WA 98002 $62,087.44
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116573 Maldonado,Norberto 9.000 .250 8.750 .0500 8.700 07/01/2012
600116576 Caponigro,John A. 9.250 .250 9.000 .0500 8.950 08/01/2012
600116579 Yates,Clive M. 8.500 .250 8.250 .0500 8.200 07/01/2012
600116580 Roach,William H 7.625 .250 7.375 .0500 7.325 07/01/2012
600116581 Kuller,Jeffrey 8.625 .250 8.375 .0500 8.325 08/01/2012
600116582 Telford,Jim L. 9.125 .250 8.875 .0500 8.825 08/01/2012
600116583 Huesgen,Gregor 8.250 .250 8.000 .0500 7.950 08/01/2012
600116584 Assil,Mohamed Samir 8.500 .250 8.250 .0500 8.200 08/01/2012
600116585 Hoffman,John P. 8.000 .250 7.750 .0500 7.700 08/01/2012
600116587 Telford,Jim L. 9.125 .250 8.875 .0500 8.825 08/01/2012
600116590 Graham,Rob 9.500 .250 9.250 .0500 9.200 08/01/2012
600116591 Graham,Rob 9.500 .250 9.250 .0500 9.200 08/01/2012
600116595 Karimian,Effat K. 9.625 .250 9.375 .0500 9.325 08/01/2012
600116597 O Donnell,Michael D. 8.125 .250 7.875 .0500 7.825 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>
600116573 Maldonado,Norberto 244274 $202.85 01/01/1998 180
600116576 Caponigro,John A. 261247 $771.89 01/01/1998 180
600116579 Yates,Clive M. 253915 $406.21 01/01/1998 180
600116580 Roach,William H 258266 $840.72 01/01/1998 180
600116581 Kuller,Jeffrey 244217 $1,860.15 01/01/1998 180
600116582 Telford,Jim L. 246547 $357.60 01/01/1998 180
600116583 Huesgen,Gregor 251706 $1,589.09 01/01/1998 180
600116584 Assil,Mohamed Samir 252836 $1,240.77 01/01/1998 180
600116585 Hoffman,John P. 253879 $609.23 01/01/1998 180
600116587 Telford,Jim L. 246543 $500.64 01/01/1998 180
600116590 Graham,Rob 252364 $548.22 01/01/1998 180
600116591 Graham,Rob 252431 $407.25 01/01/1998 180
600116595 Karimian,Effat K. 250081 $631.07 01/01/1998 180
600116597 O Donnell,Michael D. 253420 $606.62 01/01/1998 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>
600116573 Maldonado,Norberto $25,000.00 N
600116576 Caponigro,John A. $175,000.00 N
600116579 Yates,Clive M. $55,000.00 N
600116580 Roach,William H $265,000.00 N
600116581 Kuller,Jeffrey $267,500.00 N
600116582 Telford,Jim L. $50,000.00 N
600116583 Huesgen,Gregor $252,000.00 N
600116584 Assil,Mohamed Samir $160,000.00 N
600116585 Hoffman,John P. $99,000.00 N
600116587 Telford,Jim L. $70,000.00 N
600116590 Graham,Rob $70,000.00 N
600116591 Graham,Rob $52,000.00 N
600116595 Karimian,Effat K. $80,000.00 N
600116597 O Donnell,Michael D. $100,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 7
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116598 Priest,Michael J. 1039 East Wesley Road Salt Lake City UT 84117 $126,042.78
600116604 Foster,Alexander T 305 M Street Rock Springs WY 82901 $22,874.79
600116605 Linares,Nicolas 7155 Miami Lakes Drive # Hialeah FL 33014 $36,818.72
600116607 Lott,Richard 13 Cullinane Drive Marlborough MA 01752 $67,622.07
600116608 Vavrek,Robert A. 4610 Vine Street Mc Keesport PA 15132 $49,661.98
600116612 Posey,Monte C. 405 13th Avenue Kirkland WA 98033 $112,384.39
600116618 Costa,Della M. 654 S. E. Miller Avenue Dallas OR 97338 $73,944.26
600116624 Kalinowski,Sandra L. 128 Dogwood Road Mastic Beach NY 11951 $51,142.79
600116629 Whitaker,Ruth 226 S W Taylor Street Topeka KS 66603 $23,780.27
600116640 Floyd,Joe M 1827 Mission Road Kodiak AK 99615 $88,664.06
600116641 Mexico,Charles 1823 Hemlock Monroe MI 48162 $39,433.07
600116642 Blessing,Cindi McFarland 2713 West Kiowa Street Colorado Spring CO 80904 $64,063.83
600116645 Achermann,Dieter N H N Echo Drive Girdwood AK 99587 $188,627.44
600116647 Hauser,Margaret Mary 13922 East Stanford Circl Aurora CO 80015 $32,474.45
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116598 Priest,Michael J. 7.500 .250 7.250 .0500 7.200 08/01/2012
600116604 Foster,Alexander T 8.500 .250 8.250 .0500 8.200 08/01/2012
600116605 Linares,Nicolas 8.750 .250 8.500 .0500 8.450 08/01/2012
600116607 Lott,Richard 8.250 .250 8.000 .0500 7.950 08/01/2012
600116608 Vavrek,Robert A. 8.000 .250 7.750 .0500 7.700 08/01/2012
600116612 Posey,Monte C. 8.375 .250 8.125 .0500 8.075 08/01/2012
600116618 Costa,Della M. 8.875 .250 8.625 .0500 8.575 08/01/2012
600116624 Kalinowski,Sandra L. 9.625 .250 9.375 .0500 9.325 08/01/2012
600116629 Whitaker,Ruth 9.125 .250 8.875 .0500 8.825 08/01/2012
600116640 Floyd,Joe M 8.750 .250 8.500 .0500 8.450 08/01/2012
600116641 Mexico,Charles 8.375 .250 8.125 .0500 8.075 08/01/2012
600116642 Blessing,Cindi McFarland 8.375 .250 8.125 .0500 8.075 08/01/2012
600116645 Achermann,Dieter 8.750 .250 8.500 .0500 8.450 08/01/2012
600116647 Hauser,Margaret Mary 8.500 .250 8.250 .0500 8.200 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>
600116598 Priest,Michael J. 255168 $1,186.58 01/01/1998 180
600116604 Foster,Alexander T 254166 $228.46 01/01/1998 180
600116605 Linares,Nicolas 252165 $373.30 14 01/01/1998 180
600116607 Lott,Richard 253724 $665.56 01/01/1998 180
600116608 Vavrek,Robert A. 255015 $481.65 01/01/1998 180
600116612 Posey,Monte C. 265904 $1,114.27 01/01/1998 180
600116618 Costa,Della M. 256662 $755.13 01/01/1998 180
600116624 Kalinowski,Sandra L. 251155 $544.83 01/01/1998 180
600116629 Whitaker,Ruth 252438 $246.24 2 01/01/1998 180
600116640 Floyd,Joe M 256030 $899.50 01/01/1998 180
600116641 Mexico,Charles 256615 $390.98 01/01/1998 180
600116642 Blessing,Cindi McFarland 257639 $635.33 01/01/1998 180
600116645 Achermann,Dieter 255363 $1,911.45 01/01/1998 180
600116647 Hauser,Margaret Mary 252898 $324.96 01/01/1998 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>
600116598 Priest,Michael J. $185,000.00 N
600116604 Foster,Alexander T $29,000.00 N
600116605 Linares,Nicolas $41,500.00 N
600116607 Lott,Richard $194,000.00 N
600116608 Vavrek,Robert A. $63,000.00 N
600116612 Posey,Monte C. $189,000.00 N
600116618 Costa,Della M. $160,000.00 N
600116624 Kalinowski,Sandra L. $74,000.00 N
600116629 Whitaker,Ruth $26,785.00 N
600116640 Floyd,Joe M $152,000.00 N
600116641 Mexico,Charles $70,500.00 N
600116642 Blessing,Cindi McFarland $87,000.00 N
600116645 Achermann,Dieter $255,000.00 N
600116647 Hauser,Margaret Mary $47,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 8
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116648 Wang,Richard Q. 140 Marsh Lane Oxford AL 36203 $133,500.01
600116650 Coyhis,Grayce A. 1056 Evalena Road Castle Rock CO 80104 $71,917.65
600116653 Moncada,Emilio 6 Marginal Street West Brooklyn NY 11207 $114,044.93
600116654 Larosa,Anthony 15 Marylyn Court West Babylon NY 11704 $93,668.36
600116658 Stratton,Leslie J. 3975 South Sheri Way West Valley Cit UT 84120 $99,396.50
600116661 Nguyen,Troung Van 12604 SE 216th Street Kent WA 98031 $90,593.28
600116662 Aragon,J. Antonio 4168 West 3280 South West Valley Cit UT 84120 $70,957.07
600116668 Picar,Benjamin 1821 Inyo St Delano CA 93215 $59,158.97
600116672 Davies,Pamela M. 4615 Lemona Avenue Sherman Oaks CA 91423 $70,410.06
600116674 Randolph, Sr.,Freddie L. 485 Oxford Avenue Merritt Island FL 32953 $36,317.25
600116675 Tiltmann,Maria Luisa 15870 S. W. 69 Lane Miami FL 33193 $39,433.12
600116676 Draper,Thomas 42069 Nw Purdin Rd Forest Grove OR 97116 $147,656.66
600116685 Vanhorton,Leah 4933 NE Mason Street Portland OR 97218 $80,812.26
600116687 Jorgensen,Gary J 12477-12486 West Eighth P Golden CO 80401 $156,277.56
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116648 Wang,Richard Q. 8.500 .250 8.250 .0500 8.200 08/01/2012
600116650 Coyhis,Grayce A. 8.125 .250 7.875 .0500 7.825 08/01/2012
600116653 Moncada,Emilio 8.500 .250 8.250 .0500 8.200 08/01/2012
600116654 Larosa,Anthony 8.500 .250 8.250 .0500 8.200 08/01/2012
600116658 Stratton,Leslie J. 7.875 .250 7.625 .0500 7.575 08/01/2012
600116661 Nguyen,Troung Van 7.500 .250 7.250 .0500 7.200 08/01/2012
600116662 Aragon,J. Antonio 8.125 .250 7.875 .0500 7.825 08/01/2012
600116668 Picar,Benjamin 8.500 .250 8.250 .0500 8.200 08/01/2012
600116672 Davies,Pamela M. 8.625 .250 8.375 .0500 8.325 08/01/2012
600116674 Randolph, Sr.,Freddie L. 9.250 .250 9.000 .0500 8.950 08/01/2012
600116675 Tiltmann,Maria Luisa 8.375 .250 8.125 .0500 8.075 08/01/2012
600116676 Draper,Thomas 7.250 .250 7.000 .0500 6.950 08/01/2012
600116685 Vanhorton,Leah 8.125 .250 7.875 .0500 7.825 08/01/2012
600116687 Jorgensen,Gary J 8.000 .250 7.750 .0500 7.700 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>
600116648 Wang,Richard Q. 256140 $1,339.25 01/01/1998 180
600116650 Coyhis,Grayce A. 253058 $702.90 01/01/1998 180
600116653 Moncada,Emilio 249260 $1,142.30 01/01/1998 180
600116654 Larosa,Anthony 256668 $935.50 01/01/1998 180
600116658 Stratton,Leslie J. 255973 $957.93 01/01/1998 180
600116661 Nguyen,Troung Van 255702 $852.85 01/01/1998 180
600116662 Aragon,J. Antonio 252664 $693.28 01/01/1998 180
600116668 Picar,Benjamin 258591 $590.84 01/01/1998 180
600116672 Davies,Pamela M. 257102 $708.35 01/01/1998 180
600116674 Randolph, Sr.,Freddie L. 258101 $378.74 01/01/1998 180
600116675 Tiltmann,Maria Luisa 258844 $390.97 01/01/1998 180
600116676 Draper,Thomas 259104 $1,369.29 01/01/1998 180
600116685 Vanhorton,Leah 259646 $789.56 01/01/1998 180
600116687 Jorgensen,Gary J 256143 $1,515.67 01/01/1998 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>
600116648 Wang,Richard Q. $170,000.00 N
600116650 Coyhis,Grayce A. $124,000.00 N
600116653 Moncada,Emilio $145,000.00 N
600116654 Larosa,Anthony $192,000.00 N
600116658 Stratton,Leslie J. $144,000.00 N
600116661 Nguyen,Troung Van $151,000.00 N
600116662 Aragon,J. Antonio $204,000.00 N
600116668 Picar,Benjamin $80,000.00 N
600116672 Davies,Pamela M. $102,000.00 N
600116674 Randolph, Sr.,Freddie L. $59,000.00 N
600116675 Tiltmann,Maria Luisa $109,400.00 N
600116676 Draper,Thomas $255,000.00 N
600116685 Vanhorton,Leah $118,500.00 N
600116687 Jorgensen,Gary J $245,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 9
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116688 Springs,Larry N 146-148 W 120th Street Los Angeles CA 90061 $64,062.63
600116690 Moya,Eddie 1710 Cox Road Aptos CA 95003 $211,856.86
600116692 Kim,Young Keun 1807 Carters Grove Drive Silver Spring MD 20904 $111,272.14
600116696 Coyne,Martha 1201 Brickyard Way #406 Richmond CA 94801 $102,378.59
600116699 Shamoon,Joseph 1516 North M Street Lake Worth FL 33460 $54,229.02
600116700 Bossalina,Joseph Allen 1945 Guyway Baltimore MD 21221 $53,275.72
600116702 Kozinski,Robert A. 3132 South Griffin Avenue Milwaukee WI 53207 $42,907.98
600116703 Arias,Ralph 143 Coles Street Jersey City NJ 07302 $122,053.04
600116704 Davis,Michelle D. 28 Engelke Street North Patchogue NY 11772 $71,844.05
600116707 Suarez,Lucy 1830 Holly Avenue Oxnard CA 93030 $221,297.93
600116708 D' Ambrosio,Maria 115 Compton Hall Drive Alpharetta GA 30202 $92,854.85
600116712 Weston,Richard M 135-12 Horace Harding Exp Flushing NY 11355 $157,830.05
600116717 Bock,Dale L 720 South San Gorgonio Av Banning CA 92220 $97,893.71
600116719 Liu,Han Min 5931 Kauffman Avenue Temple City CA 91780 $142,300.28
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116688 Springs,Larry N 8.875 .250 8.625 .0500 8.575 08/01/2012
600116690 Moya,Eddie 7.750 .250 7.500 .0500 7.450 09/01/2012
600116692 Kim,Young Keun 7.500 .250 7.250 .0500 7.200 08/01/2012
600116696 Coyne,Martha 8.000 .250 7.750 .0500 7.700 08/01/2012
600116699 Shamoon,Joseph 8.500 .250 8.250 .0500 8.200 08/01/2012
600116700 Bossalina,Joseph Allen 9.000 .250 8.750 .0500 8.700 08/01/2012
600116702 Kozinski,Robert A. 9.000 .250 8.750 .0500 8.700 08/01/2012
600116703 Arias,Ralph 8.750 .250 8.500 .0500 8.450 08/01/2012
600116704 Davis,Michelle D. 8.125 .250 7.875 .0500 7.825 08/01/2012
600116707 Suarez,Lucy 7.625 .250 7.375 .0500 7.325 09/01/2012
600116708 D' Ambrosio,Maria 7.875 .250 7.625 .0500 7.575 08/01/2012
600116712 Weston,Richard M 8.875 .250 8.625 .0500 8.575 08/01/2012
600116717 Bock,Dale L 8.500 .250 8.250 .0500 8.200 09/01/2012
600116719 Liu,Han Min 7.875 .250 7.625 .0500 7.575 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>
600116688 Springs,Larry N 258710 $654.45 01/01/1998 180
600116690 Moya,Eddie 253477 $2,019.98 01/01/1998 180
600116692 Kim,Young Keun 260085 $1,047.53 01/01/1998 180
600116696 Coyne,Martha 257172 $992.92 01/01/1998 180
600116699 Shamoon,Joseph 257253 $541.61 01/01/1998 180
600116700 Bossalina,Joseph Allen 257726 $547.70 01/01/1998 180
600116702 Kozinski,Robert A. 260032 $441.21 01/01/1998 180
600116703 Arias,Ralph 242169 $1,236.82 01/01/1998 180
600116704 Davis,Michelle D. 254626 $701.94 2 01/01/1998 180
600116707 Suarez,Lucy 250768 $2,092.45 01/01/1998 180
600116708 D' Ambrosio,Maria 258763 $893.91 01/01/1998 180
600116712 Weston,Richard M 254864 $1,610.95 01/01/1998 180
600116717 Bock,Dale L 256195 $974.90 12 01/01/1998 180
600116719 Liu,Han Min 265284 $1,365.77 01/01/1998 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>
600116688 Springs,Larry N $130,000.00 N
600116690 Moya,Eddie $320,000.00 N
600116692 Kim,Young Keun $174,990.00 N
600116696 Coyne,Martha $205,000.00 N
600116699 Shamoon,Joseph $77,900.00 N
600116700 Bossalina,Joseph Allen $76,000.00 N
600116702 Kozinski,Robert A. $74,000.00 N
600116703 Arias,Ralph $165,000.00 N
600116704 Davis,Michelle D. $81,000.00 N
600116707 Suarez,Lucy $280,000.00 N
600116708 D' Ambrosio,Maria $145,000.00 N
600116712 Weston,Richard M $200,000.00 N
600116717 Bock,Dale L $110,000.00 N
600116719 Liu,Han Min $180,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 10
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116721 Doyle,Shane P. 1341 West 1800 North Lehi UT 84043 $90,675.31
600116724 Wells,Jerry A 224-226 Saint Clair Stree Longmont CO 80501 $74,063.05
600116725 Wells,Jerry A 1837-1839 Emery Street Longmont CO 80501 $105,804.32
600116726 Dacchille,Judy 59 Alicante Aisle Irvine CA 92714 $37,389.58
600116732 Thoresen,Linda Lee 1400 Little Morro Creek R Morro Bay CA 93442 $74,143.28
600116736 Hardman,Brian M 4857 N E Prescott Portland OR 97218 $59,284.02
600116737 Palmer,Sherri 7170 Brookhill Drive Salt Lake City UT 84121 $121,548.86
600116738 Sukhija,Balwinder S 13571 Blue Sage Court Victorville CA 92392 $94,829.36
600116740 Mahler,Michael P. 720 13th Street Marysville CA 95901 $59,183.15
600116744 Lee,Mark A 36812 S E Tracey Road Estacada OR 97023 $142,408.54
600116745 Musco,Anthony J 953 University Place Schenectady NY 12308 $28,873.73
600116746 Kim,Yong Ho 525 South La Fayette Park Los Angeles CA 90057 $34,118.71
600116747 Rampello,Giuseppe 215-40 47th Avenue Apt 3C Bayside NY 11361 $26,507.60
600116748 Guerra,Elizabeth Ann 215-40 47th Avenue 3A Bayside NY 11361 $24,732.73
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116721 Doyle,Shane P. 8.500 .250 8.250 .0500 8.200 09/01/2012
600116724 Wells,Jerry A 8.500 .250 8.250 .0500 8.200 09/01/2012
600116725 Wells,Jerry A 8.500 .250 8.250 .0500 8.200 09/01/2012
600116726 Dacchille,Judy 7.750 .250 7.500 .0500 7.450 09/01/2012
600116732 Thoresen,Linda Lee 8.250 .250 8.000 .0500 7.950 09/01/2012
600116736 Hardman,Brian M 7.750 .250 7.500 .0500 7.450 09/01/2012
600116737 Palmer,Sherri 8.125 .250 7.875 .0500 7.825 11/01/2012
600116738 Sukhija,Balwinder S 7.500 .250 7.250 .0500 7.200 09/01/2012
600116740 Mahler,Michael P. 8.125 .250 7.875 .0500 7.825 09/01/2012
600116744 Lee,Mark A 8.625 .250 8.375 .0500 8.325 09/01/2012
600116745 Musco,Anthony J 8.500 .250 8.250 .0500 8.200 09/01/2012
600116746 Kim,Yong Ho 8.625 .250 8.375 .0500 8.325 09/01/2012
600116747 Rampello,Giuseppe 9.000 .250 8.750 .0500 8.700 09/01/2012
600116748 Guerra,Elizabeth Ann 9.000 .250 8.750 .0500 8.700 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>
600116721 Doyle,Shane P. 259738 $903.01 01/01/1998 180
600116724 Wells,Jerry A 260386 $737.57 01/01/1998 180
600116725 Wells,Jerry A 260393 $1,053.68 01/01/1998 180
600116726 Dacchille,Judy 262313 $376.51 01/01/1998 180
600116732 Thoresen,Linda Lee 260797 $727.61 01/01/1998 180
600116736 Hardman,Brian M 269260 $564.77 01/01/1998 180
600116737 Palmer,Sherri 264983 $1,177.12 01/01/1998 180
600116738 Sukhija,Balwinder S 258649 $889.93 01/01/1998 180
600116740 Mahler,Michael P. 264374 $577.73 01/01/1998 180
600116744 Lee,Mark A 264642 $1,428.60 01/01/1998 180
600116745 Musco,Anthony J 252278 $287.54 7 01/01/1998 180
600116746 Kim,Yong Ho 267011 $342.27 01/01/1998 180
600116747 Rampello,Giuseppe 244872 $273.85 12 01/01/1998 180
600116748 Guerra,Elizabeth Ann 244866 $253.57 01/01/1998 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>
600116721 Doyle,Shane P. $118,000.00 N
600116724 Wells,Jerry A $165,000.00 N
600116725 Wells,Jerry A $149,500.00 N
600116726 Dacchille,Judy $118,000.00 N
600116732 Thoresen,Linda Lee $430,000.00 N
600116736 Hardman,Brian M $144,000.00 N
600116737 Palmer,Sherri $163,000.00 N
600116738 Sukhija,Balwinder S $120,000.00 N
600116740 Mahler,Michael P. $80,000.00 N
600116744 Lee,Mark A $180,000.00 N
600116745 Musco,Anthony J $32,500.00 N
600116746 Kim,Yong Ho $46,000.00 N
600116747 Rampello,Giuseppe $30,000.00 N
600116748 Guerra,Elizabeth Ann $40,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 11
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116750 Salazar,Christopher 13603 Oak Bend Forest Dri Houston TX 77083 $107,768.50
600116751 Otto,Lawrence 77 Camberly Road East Hampton NY 11937 $184,816.68
600116754 Utter,Lee 6n423 Rte 31 Saint Charles IL 60175 $101,399.61
600116757 Cochran, Jr.,Wayne 356 Aulike Street Lahaina HI 96761 $39,537.52
600116758 Hagen,George Lynn 2291 North Freemont Boule Flagstaff AZ 86001 $217,459.27
600116762 Cotton,Barry A. 1036 Christopher Ave. Round Rock TX 78664 $98,541.98
600116763 Zermeno,Veronica 3821 Ramboz Drive Los Angeles CA 90063 $89,197.13
600116766 Roubidoux,Carol J. 7511 Magnolia Street Denver CO 80222 $17,944.42
600116767 Hanna,Kelly D. 221 Palmetto Street Corpus Christi TX 78412 $122,536.35
600116768 AMADO,VINCENT A 3170 Capistrano Way Rocklin CA 95677 $119,049.07
600116770 Whatley,Camilla P 23291 Gerbera Street Moreno Valley CA 92553 $64,257.53
600116772 Chou,Hsi-shen 3924 Blackwood Court Santa Maria CA 93455 $100,674.93
600116774 Gonzalez,Teofilo A. 80-78 59th Street Glendale NY 11385 $85,576.33
600116775 Mayhew,Darlene 24 Valley Cricle Drive Miller Place NY 11764 $133,512.55
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116750 Salazar,Christopher 8.375 .250 8.125 .0500 8.075 09/01/2012
600116751 Otto,Lawrence 8.000 .250 7.750 .0500 7.700 09/01/2012
600116754 Utter,Lee 8.000 .250 7.750 .0500 7.700 09/01/2012
600116757 Cochran, Jr.,Wayne 8.125 .250 7.875 .0500 7.825 09/01/2012
600116758 Hagen,George Lynn 8.125 .250 7.875 .0500 7.825 09/01/2012
600116762 Cotton,Barry A. 8.125 .250 7.875 .0500 7.825 10/01/2012
600116763 Zermeno,Veronica 7.750 .250 7.500 .0500 7.450 10/01/2012
600116766 Roubidoux,Carol J. 8.250 .250 8.000 .0500 7.950 09/01/2012
600116767 Hanna,Kelly D. 7.875 .250 7.625 .0500 7.575 09/01/2012
600116768 AMADO,VINCENT A 7.750 .250 7.500 .0500 7.450 09/01/2012
600116770 Whatley,Camilla P 8.250 .250 8.000 .0500 7.950 09/01/2012
600116772 Chou,Hsi-shen 8.625 .250 8.375 .0500 8.325 09/01/2012
600116774 Gonzalez,Teofilo A. 9.250 .250 9.000 .0500 8.950 10/01/2012
600116775 Mayhew,Darlene 7.875 .250 7.625 .0500 7.575 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>
600116750 Salazar,Christopher 258385 $1,065.40 01/01/1998 180
600116751 Otto,Lawrence 258424 $1,787.07 01/01/1998 180
600116754 Utter,Lee 261727 $981.45 01/01/1998 180
600116757 Cochran, Jr.,Wayne 261708 $385.16 01/01/1998 180
600116758 Hagen,George Lynn 261927 $2,118.35 01/01/1998 180
600116762 Cotton,Barry A. 267044 $957.10 01/01/1998 180
600116763 Zermeno,Veronica 270188 $847.15 01/01/1998 180
600116766 Roubidoux,Carol J. 260517 $176.57 01/01/1998 180
600116767 Hanna,Kelly D. 260594 $1,176.08 01/01/1998 180
600116768 AMADO,VINCENT A 261049 $1,148.36 01/01/1998 180
600116770 Whatley,Camilla P 261498 $630.59 01/01/1998 180
600116772 Chou,Hsi-shen 262580 $1,009.94 01/01/1998 180
600116774 Gonzalez,Teofilo A. 261263 $887.68 01/01/1998 180
600116775 Mayhew,Darlene 265200 $1,289.89 01/01/1998 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>
600116750 Salazar,Christopher $150,000.00 N
600116751 Otto,Lawrence $253,000.00 N
600116754 Utter,Lee $158,000.00 N
600116757 Cochran, Jr.,Wayne $125,000.00 N
600116758 Hagen,George Lynn $445,000.00 N
600116762 Cotton,Barry A. $142,000.00 N
600116763 Zermeno,Veronica $135,000.00 N
600116766 Roubidoux,Carol J. $86,500.00 N
600116767 Hanna,Kelly D. $155,000.00 N
600116768 AMADO,VINCENT A $205,000.00 N
600116770 Whatley,Camilla P $120,000.00 N
600116772 Chou,Hsi-shen $163,000.00 N
600116774 Gonzalez,Teofilo A. $115,000.00 N
600116775 Mayhew,Darlene $181,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 12
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116777 Curran,Francis J 2533 Gleneagle Green Hilton Head Isl SC 29928 $162,122.81
600116778 Peragine,Anthony S. 111 West 11th Street Deer Park NY 11729 $66,213.26
600116779 Hales,Melvin R. 24155 Adams Avenue Murrieta CA 92562 $144,245.86
600116782 Hopkins,Allen 14 Main Street Port Republic NJ 08241 $44,689.32
600116783 Sanchez,Marta L. 13295 SW 99 Terrace Miami FL 33186 $93,914.82
600116785 Yashar,Jilla Kahalyoon 10584 Wilkins Ave Los Angeles CA 90024 $138,292.80
600116787 Kiley,Kathleen M 16522 S Eaden Road Oregon City OR 97045 $24,203.96
600116790 Wood,Dennis R. 1009-1011 Laurel Avenue Marysville CA 95901 $54,851.99
600116793 Won,Duksoo 2 Dickens Street Stony Point NY 10980 $197,740.37
600116794 Kahn,Lionel 5036 College Gardens Cour San Diego CA 92115 $162,966.12
600116798 Jones,David Dean 6056 Roy Street Los Angeles CA 90042 $54,371.75
600116801 Yungelson,Igor 2331 Ocean Ave. #5C Brooklyn NY 11229 $35,606.49
600116803 Barber,Murell 4076 Weelaunee Road Ellenwood GA 30049 $79,201.41
600116804 Mcguire,Patricia 3735 W. Warren Ave Tucson AZ 85719 $49,441.29
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116777 Curran,Francis J 7.750 .250 7.500 .0500 7.450 09/01/2012
600116778 Peragine,Anthony S. 8.125 .250 7.875 .0500 7.825 09/01/2012
600116779 Hales,Melvin R. 7.875 .250 7.625 .0500 7.575 09/01/2012
600116782 Hopkins,Allen 8.375 .250 8.125 .0500 8.075 09/01/2012
600116783 Sanchez,Marta L. 8.250 .250 8.000 .0500 7.950 09/01/2012
600116785 Yashar,Jilla Kahalyoon 7.500 .250 7.250 .0500 7.200 09/01/2012
600116787 Kiley,Kathleen M 8.500 .250 8.250 .0500 8.200 09/01/2012
600116790 Wood,Dennis R. 8.000 .250 7.750 .0500 7.700 09/01/2012
600116793 Won,Duksoo 8.375 .250 8.125 .0500 8.075 09/01/2012
600116794 Kahn,Lionel 7.375 .250 7.125 .0500 7.075 09/01/2012
600116798 Jones,David Dean 8.250 .250 8.000 .0500 7.950 09/01/2012
600116801 Yungelson,Igor 8.750 .250 8.500 .0500 8.450 09/01/2012
600116803 Barber,Murell 7.875 .250 7.625 .0500 7.575 09/01/2012
600116804 Mcguire,Patricia 8.500 .250 8.250 .0500 8.200 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>
600116777 Curran,Francis J 256987 $1,553.11 01/01/1998 180
600116778 Peragine,Anthony S. 256027 $645.13 01/01/1998 180
600116779 Hales,Melvin R. 262601 $1,384.74 01/01/1998 180
600116782 Hopkins,Allen 256244 $441.80 01/01/1998 180
600116783 Sanchez,Marta L. 259663 $921.64 01/01/1998 180
600116785 Yashar,Jilla Kahalyoon 263564 $1,297.82 01/01/1998 180
600116787 Kiley,Kathleen M 271204 $246.19 01/01/1998 180
600116790 Wood,Dennis R. 263002 $530.39 01/01/1998 180
600116793 Won,Duksoo 261730 $1,954.86 01/01/1998 180
600116794 Kahn,Lionel 264112 $1,517.87 01/01/1998 180
600116798 Jones,David Dean 260905 $533.58 01/01/1998 180
600116801 Yungelson,Igor 260036 $359.81 01/01/1998 180
600116803 Barber,Murell 260667 $761.14 01/01/1998 180
600116804 Mcguire,Patricia 263261 $492.37 01/01/1998 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>
600116777 Curran,Francis J $280,000.00 N
600116778 Peragine,Anthony S. $177,000.00 N
600116779 Hales,Melvin R. $415,000.00 N
600116782 Hopkins,Allen $113,000.00 N
600116783 Sanchez,Marta L. $159,000.00 N
600116785 Yashar,Jilla Kahalyoon $500,000.00 N
600116787 Kiley,Kathleen M $182,000.00 N
600116790 Wood,Dennis R. $74,000.00 N
600116793 Won,Duksoo $416,210.00 N
600116794 Kahn,Lionel $245,000.00 N
600116798 Jones,David Dean $115,000.00 N
600116801 Yungelson,Igor $71,000.00 N
600116803 Barber,Murell $107,000.00 N
600116804 Mcguire,Patricia $98,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 13
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116807 Kessler,Ron B. 920-922 East 35th Street Tucson AZ 85713 $36,325.59
600116808 Tighe,Jean M 10 Prospect Court Lawrence MA 01841 $25,808.34
600116810 Tam,Ping Leung 960 Unruh Avenue La Puente CA 91744 $69,113.52
600116812 Song,Charlene Y 1802 Morning Dove Lane Redlands CA 92373 $108,095.00
600116815 Moriarty,Kristen Lynn 106 Moore Street Agawam MA 01001 $112,655.53
600116816 Hill,Herbert 714 84th Street Miami FL 33141 $49,558.84
600116817 ALBRECHT,DONALD E 249 East Cottage Wood La Murray UT 84107 $59,153.67
600116821 Arutyunyan,Sahak 9758 Gerald Avenue North Hills CA 91343 $52,374.40
600116823 Cobo,Martha P. 205 East 63rd Street Apt. New York NY 10021 $49,477.27
600116824 Fuller,Pamela 6521 South Pontiac Court Englewood CO 80111 $103,773.00
600116827 Vaccaro,Vincent 1912 South 60th Street Omaha NE 68106 $48,939.56
600116830 Schultze,Debra L. 215 North Elm Street Fairmont MN 56031 $31,642.41
600116832 Yang,Chia Shing 4362 Brookside Street Irvine CA 92604 $118,353.93
600116835 Knuth,Constance J 0358 Crystal Lane Carbondale CO 81623 $98,788.65
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116807 Kessler,Ron B. 8.125 .250 7.875 .0500 7.825 09/01/2012
600116808 Tighe,Jean M 8.500 .250 8.250 .0500 8.200 09/01/2012
600116810 Tam,Ping Leung 8.000 .250 7.750 .0500 7.700 09/01/2012
600116812 Song,Charlene Y 8.250 .250 8.000 .0500 7.950 09/01/2012
600116815 Moriarty,Kristen Lynn 8.375 .250 8.125 .0500 8.075 09/01/2012
600116816 Hill,Herbert 7.875 .250 7.625 .0500 7.575 10/01/2012
600116817 ALBRECHT,DONALD E 7.250 .250 7.000 .0500 6.950 09/01/2012
600116821 Arutyunyan,Sahak 7.875 .250 7.625 .0500 7.575 09/01/2012
600116823 Cobo,Martha P. 9.250 .250 9.000 .0500 8.950 09/01/2012
600116824 Fuller,Pamela 7.990 .250 7.740 .0500 7.690 09/01/2012
600116827 Vaccaro,Vincent 8.375 .250 8.125 .0500 8.075 09/01/2012
600116830 Schultze,Debra L. 8.500 .250 8.250 .0500 8.200 09/01/2012
600116832 Yang,Chia Shing 7.750 .250 7.500 .0500 7.450 09/01/2012
600116835 Knuth,Constance J 7.625 .250 7.375 .0500 7.325 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>
600116807 Kessler,Ron B. 232882 $353.86 01/01/1998 180
600116808 Tighe,Jean M 258799 $257.02 18 01/01/1998 180
600116810 Tam,Ping Leung 262711 $668.29 01/01/1998 180
600116812 Song,Charlene Y 261796 $1,060.79 01/01/1998 180
600116815 Moriarty,Kristen Lynn 253246 $1,114.27 12 01/01/1998 180
600116816 Hill,Herbert 265746 $474.22 01/01/1998 180
600116817 ALBRECHT,DONALD E 262979 $546.80 01/01/1998 180
600116821 Arutyunyan,Sahak 264240 $502.68 01/01/1998 180
600116823 Cobo,Martha P. 231963 $514.60 01/01/1998 180
600116824 Fuller,Pamela 260925 $1,002.83 01/01/1998 180
600116827 Vaccaro,Vincent 264391 $488.71 01/01/1998 180
600116830 Schultze,Debra L. 262492 $315.12 01/01/1998 180
600116832 Yang,Chia Shing 265530 $1,129.53 01/01/1998 180
600116835 Knuth,Constance J 261223 $934.13 01/01/1998 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>
600116807 Kessler,Ron B. $60,000.00 N
600116808 Tighe,Jean M $29,000.00 N
600116810 Tam,Ping Leung $99,900.00 N
600116812 Song,Charlene Y $136,680.00 N
600116815 Moriarty,Kristen Lynn $120,000.00 N
600116816 Hill,Herbert $160,000.00 N
600116817 ALBRECHT,DONALD E $190,000.00 N
600116821 Arutyunyan,Sahak $139,000.00 N
600116823 Cobo,Martha P. $76,000.00 N
600116824 Fuller,Pamela $220,000.00 N
600116827 Vaccaro,Vincent $80,000.00 N
600116830 Schultze,Debra L. $41,500.00 N
600116832 Yang,Chia Shing $245,000.00 N
600116835 Knuth,Constance J $250,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 14
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116840 Sanchez,Estrella 19650 S W 136 Street Miami FL 33196 $74,180.24
600116843 Carey,Jeffrey L. 3023 South Los Altos Mesa AZ 85202 $60,229.54
600116849 Koehler,E Kurt 508 East Lionshead Circle Vail CO 81657 $113,784.21
600116853 Scott Ard,Cynthia 1340 Long Beach Drive Big Pine Key FL 33043 $188,394.68
600116854 Loschiavo,James P. 6120 N. W. 114 Street Miami FL 33012 $63,882.42
600116855 Drake,Mary E. 7419 Cambridge Road Wonder Lake IL 60097 $122,273.33
600116857 Hannah,Susan 21065 S Casca Berry Court Oregon City OR 97045 $81,578.08
600116858 Mort,Dennis J. 5153 San Rafael Avenue Las Vegas NV 89122 $66,793.38
600116863 Wiggin,Patrick 813 9th Street Williams CA 95987 $94,152.54
600116865 Fowler,Edward 6094 Jefferson Street Merrillville IN 46410 $45,991.76
600116867 Robinson,Peter J. 517 29th Street West Palm Beach FL 33407 $67,206.06
600116868 Changryan,Grigor 12647 Welby Way North Hollywood CA 91605 $86,961.26
600116869 Haycock,J. Sid 1901 Vintage Woods Court Salt Lake City UT 84117 $162,986.95
600116870 Graham,Rob 1104 N.w. 16th Place Stuart FL 34994 $53,447.97
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116840 Sanchez,Estrella 8.750 .250 8.500 .0500 8.450 09/01/2012
600116843 Carey,Jeffrey L. 8.875 .250 8.625 .0500 8.575 10/01/2012
600116849 Koehler,E Kurt 9.125 .250 8.875 .0500 8.825 09/01/2012
600116853 Scott Ard,Cynthia 8.625 .250 8.375 .0500 8.325 09/01/2012
600116854 Loschiavo,James P. 7.750 .250 7.500 .0500 7.450 09/01/2012
600116855 Drake,Mary E. 7.750 .250 7.500 .0500 7.450 09/01/2012
600116857 Hannah,Susan 8.500 .250 8.250 .0500 8.200 09/01/2012
600116858 Mort,Dennis J. 7.750 .250 7.500 .0500 7.450 09/01/2012
600116863 Wiggin,Patrick 7.750 .250 7.500 .0500 7.450 10/01/2012
600116865 Fowler,Edward 8.750 .250 8.500 .0500 8.450 09/01/2012
600116867 Robinson,Peter J. 8.000 .250 7.750 .0500 7.700 09/01/2012
600116868 Changryan,Grigor 7.875 .250 7.625 .0500 7.575 09/01/2012
600116869 Haycock,J. Sid 7.500 .250 7.250 .0500 7.200 09/01/2012
600116870 Graham,Rob 9.500 .250 9.250 .0500 9.200 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>
600116840 Sanchez,Estrella 264126 $749.59 01/01/1998 180
600116843 Carey,Jeffrey L. 271855 $611.36 01/01/1998 180
600116849 Koehler,E Kurt 264680 $1,174.98 01/01/1998 180
600116853 Scott Ard,Cynthia 262388 $1,889.91 01/01/1998 180
600116854 Loschiavo,James P. 263656 $611.83 01/01/1998 180
600116855 Drake,Mary E. 264901 $1,164.83 01/01/1998 180
600116857 Hannah,Susan 266432 $812.42 01/01/1998 180
600116858 Mort,Dennis J. 266849 $636.30 01/01/1998 180
600116863 Wiggin,Patrick 264861 $894.21 01/01/1998 180
600116865 Fowler,Edward 259502 $464.74 01/01/1998 180
600116867 Robinson,Peter J. 265379 $649.84 01/01/1998 180
600116868 Changryan,Grigor 265595 $834.64 01/01/1998 180
600116869 Haycock,J. Sid 266587 $1,529.57 01/01/1998 180
600116870 Graham,Rob 267408 $563.88 01/01/1998 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>
600116840 Sanchez,Estrella $150,000.00 N
600116843 Carey,Jeffrey L. $92,000.00 N
600116849 Koehler,E Kurt $177,000.00 N
600116853 Scott Ard,Cynthia $310,000.00 N
600116854 Loschiavo,James P. $130,000.00 N
600116855 Drake,Mary E. $165,000.00 N
600116857 Hannah,Susan $182,500.00 N
600116858 Mort,Dennis J. $84,500.00 N
600116863 Wiggin,Patrick $120,000.00 N
600116865 Fowler,Edward $62,000.00 N
600116867 Robinson,Peter J. $85,000.00 N
600116868 Changryan,Grigor $128,000.00 N
600116869 Haycock,J. Sid $550,000.00 N
600116870 Graham,Rob $72,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 15
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116871 Paddock,Melville Wade 307 Harris Blvd Conroe TX 77301 $48,452.46
600116872 Paddock,Melville Wade 315 Harris Blvd Conroe TX 77301 $43,013.93
600116873 Paddock,Melville Wade 308 Harris Boulevard Conroe TX 77301 $44,211.45
600116874 Paddock,Melville Wade 202 & 206 A/ B East Avenu Conroe TX 77301 $44,502.66
600116877 Montes,Theodore A 9304 Powder Court Stockton CA 95209 $118,590.81
600116878 Defries,James D. 1677 Sycamore Street Perris CA 92570 $27,680.17
600116879 Guagliardo,Kenneth W 988 B Milo Circle Lafayette CO 80026 $75,626.15
600116880 Calkins,Bernie A 2423 Gentle Brook Court Houston TX 77062 $114,195.20
600116886 Short,Mickey 60 Wolf Drive Midway AR 72651 $64,257.19
600116887 Reese,Ann 185 Forest Street Montclair NJ 07042 $25,381.42
600116888 Cygan,William 485 North Second Street # Granby CO 80446 $48,988.60
600116890 Weinstein,Gary 345 North Shore Drive Miami FL 33138 $117,982.65
600116900 Witkin,Bernard 92 Meade Avenue Passaic NJ 07055 $72,138.33
600116906 Vaccaro,Vincent Mark 13751 Z Circle Omaha NE 68137 $49,573.12
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116871 Paddock,Melville Wade 8.500 .250 8.250 .0500 8.200 09/01/2012
600116872 Paddock,Melville Wade 8.500 .250 8.250 .0500 8.200 09/01/2012
600116873 Paddock,Melville Wade 8.750 .250 8.500 .0500 8.450 09/01/2012
600116874 Paddock,Melville Wade 8.625 .250 8.375 .0500 8.325 09/01/2012
600116877 Montes,Theodore A 8.375 .250 8.125 .0500 8.075 09/01/2012
600116878 Defries,James D. 8.250 .250 8.000 .0500 7.950 09/01/2012
600116879 Guagliardo,Kenneth W 8.250 .250 8.000 .0500 7.950 09/01/2012
600116880 Calkins,Bernie A 6.750 .250 6.500 .0500 6.450 09/01/2012
600116886 Short,Mickey 8.250 .250 8.000 .0500 7.950 09/01/2012
600116887 Reese,Ann 8.250 .250 8.000 .0500 7.950 10/01/2012
600116888 Cygan,William 7.375 .250 7.125 .0500 7.075 09/01/2012
600116890 Weinstein,Gary 7.125 .250 6.875 .0500 6.825 09/01/2012
600116900 Witkin,Bernard 7.875 .250 7.625 .0500 7.575 09/01/2012
600116906 Vaccaro,Vincent Mark 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>
600116871 Paddock,Melville Wade 265018 $482.52 01/01/1998 180
600116872 Paddock,Melville Wade 265025 $428.36 01/01/1998 180
600116873 Paddock,Melville Wade 265031 $446.75 01/01/1998 180
600116874 Paddock,Melville Wade 265024 $446.44 01/01/1998 180
600116877 Montes,Theodore A 259766 $1,172.91 01/01/1998 180
600116878 Defries,James D. 264182 $271.64 01/01/1998 180
600116879 Guagliardo,Kenneth W 266349 $742.16 01/01/1998 180
600116880 Calkins,Bernie A 267526 $1,023.85 01/01/1998 180
600116886 Short,Mickey 254806 $630.60 01/01/1998 180
600116887 Reese,Ann 258720 $248.36 01/01/1998 180
600116888 Cygan,William 263308 $456.28 01/01/1998 180
600116890 Weinstein,Gary 264903 $1,087.00 01/01/1998 180
600116900 Witkin,Bernard 266705 $692.37 01/01/1998 180
600116906 Vaccaro,Vincent Mark 265485 $485.07 01/01/1998 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>
600116871 Paddock,Melville Wade $61,250.00 N
600116872 Paddock,Melville Wade $56,000.00 N
600116873 Paddock,Melville Wade $63,900.00 N
600116874 Paddock,Melville Wade $65,000.00 N
600116877 Montes,Theodore A $150,000.00 N
600116878 Defries,James D. $35,000.00 N
600116879 Guagliardo,Kenneth W $102,000.00 N
600116880 Calkins,Bernie A $145,719.00 N
600116886 Short,Mickey $175,000.00 N
600116887 Reese,Ann $72,000.00 N
600116888 Cygan,William $62,000.00 N
600116890 Weinstein,Gary $322,500.00 N
600116900 Witkin,Bernard $148,000.00 N
600116906 Vaccaro,Vincent Mark $77,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 16
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116907 Collins,Don R 907 Sycamore Street La Porte City IA 50651 $58,501.82
600116908 Patterson,Donald 2156 Perkerson Rd Atlanta GA 30354 $68,245.83
600116911 Malone,Erma E 4732 W Shakespear Avenue Chicago IL 60639 $72,166.14
600116912 Nezar,Harbhajan Singh 5615-17 Crest Drive Kansas City KS 66106 $54,548.43
600116915 Lin,Cheng H. 2142 Century Park Lane, # Los Angeles CA 90067 $198,235.26
600116918 Brunda,Kenneth 20 Greenview Drive Pequannock NJ 07440 $169,491.16
600116919 Andersen,Bent P. 23858 Pasatiempo Lane Harbor City CA 90710 $74,359.67
600116920 Pak,Aun 207 Sequoia Drive Exeter CA 93221 $102,139.85
600116922 Flud,Melvin Dale 456 N Wall Street Shafter CA 93263 $38,644.44
600116925 Perkins,Charles D. 9604 North 35th Street Omaha NE 68112 $50,010.75
600116926 Tuccillo,Roy S. 199 Guildford Court Hempstead NY 11550 $124,947.74
600116930 Tuccillo,Roy 225 Meacham Avenue Elmont NY 11003 $122,865.30
600116931 Jensen,Keven J. 4945 South 2500 West Roy UT 84067 $93,557.91
600116934 Arabov,Mikhail 67-11 Harrow Street Forest Hills NY 11375 $193,316.73
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116907 Collins,Don R 8.375 .250 8.125 .0500 8.075 10/01/2012
600116908 Patterson,Donald 8.750 .250 8.500 .0500 8.450 09/01/2012
600116911 Malone,Erma E 8.250 .250 8.000 .0500 7.950 09/01/2012
600116912 Nezar,Harbhajan Singh 7.875 .250 7.625 .0500 7.575 09/01/2012
600116915 Lin,Cheng H. 7.875 .250 7.625 .0500 7.575 10/01/2012
600116918 Brunda,Kenneth 7.875 .250 7.625 .0500 7.575 10/01/2012
600116919 Andersen,Bent P. 8.250 .250 8.000 .0500 7.950 10/01/2012
600116920 Pak,Aun 8.500 .250 8.250 .0500 8.200 10/01/2012
600116922 Flud,Melvin Dale 7.500 .250 7.250 .0500 7.200 10/01/2012
600116925 Perkins,Charles D. 9.375 .250 9.125 .0500 9.075 10/01/2012
600116926 Tuccillo,Roy S. 8.500 .250 8.250 .0500 8.200 10/01/2012
600116930 Tuccillo,Roy 8.500 .250 8.250 .0500 8.200 10/01/2012
600116931 Jensen,Keven J. 7.750 .250 7.500 .0500 7.450 10/01/2012
600116934 Arabov,Mikhail 8.125 .250 7.875 .0500 7.825 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>
600116907 Collins,Don R 267857 $576.68 01/01/1998 180
600116908 Patterson,Donald 265842 $689.62 01/01/1998 180
600116911 Malone,Erma E 264703 $708.20 01/01/1998 180
600116912 Nezar,Harbhajan Singh 266684 $523.55 01/01/1998 180
600116915 Lin,Cheng H. 266790 $1,896.90 01/01/1998 180
600116918 Brunda,Kenneth 227079 $1,621.85 01/01/1998 180
600116919 Andersen,Bent P. 257195 $727.61 01/01/1998 180
600116920 Pak,Aun 257986 $1,014.28 2 01/01/1998 180
600116922 Flud,Melvin Dale 267983 $361.53 01/01/1998 180
600116925 Perkins,Charles D. 259253 $522.49 01/01/1998 180
600116926 Tuccillo,Roy S. 266621 $1,240.78 01/01/1998 180
600116930 Tuccillo,Roy 266625 $1,220.10 01/01/1998 180
600116931 Jensen,Keven J. 268058 $888.56 01/01/1998 180
600116934 Arabov,Mikhail 256356 $1,877.62 01/01/1998 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>
600116907 Collins,Don R $81,000.00 N
600116908 Patterson,Donald $92,000.00 N
600116911 Malone,Erma E $168,000.00 N
600116912 Nezar,Harbhajan Singh $69,000.00 N
600116915 Lin,Cheng H. $450,000.00 N
600116918 Brunda,Kenneth $232,000.00 N
600116919 Andersen,Bent P. $245,000.00 N
600116920 Pak,Aun $116,000.00 N
600116922 Flud,Melvin Dale $60,000.00 N
600116925 Perkins,Charles D. $72,000.00 N
600116926 Tuccillo,Roy S. $180,000.00 N
600116930 Tuccillo,Roy $177,000.00 N
600116931 Jensen,Keven J. $118,000.00 N
600116934 Arabov,Mikhail $305,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 17
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116935 Pagarigan,Dulce Amor Y 2809 Greenleaf Drive West Covina CA 91792 $79,324.48
600116941 Mcweeny,Linda 30418 12th Place S W Federal Way WA 98023 $77,532.37
600116942 Graziano,Maria 10381 S.w. 14 Street Miami FL 33174 $153,081.78
600116943 Knauer,Benjamine 18355 Arminta St Reseda CA 91335 $89,107.10
600116944 Fodge,Robert P 2857 Gibson Hill Road Nor Albany OR 97321 $89,197.13
600116951 Surujbhan,Solkar 97-73 115th Street Richmond Hill NY 11419 $206,338.59
600116963 Coulson,Lawerence E 3089 Montana Drive Prescott AZ 86301 $51,536.13
600116964 Zinn,Joan L. 9635 La Nuez Drive Elk Grove CA 95624 $57,488.23
600116965 Samuel,Willie B. 13007 East Florida Drive Aurora CO 80012 $71,405.35
600116969 Jennings,Elizabeth A. 1350 Se 117th Avenue Portland OR 97216 $74,599.33
600116971 Panero,Arthur S. 828 18th Street N E Washington, DC 20002 $43,148.63
600116972 Panero,Arthur S. 1740 H Street Washington DC 20002 $43,148.63
600116973 Panero,Arthur S. 1906 E Street N E Washington DC 20002 $43,148.63
600116974 Romak,Leslie K. 1747 E Northern Avenue Phoenix AZ 85020 $69,395.74
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116935 Pagarigan,Dulce Amor Y 8.375 .250 8.125 .0500 8.075 10/01/2012
600116941 Mcweeny,Linda 8.250 .250 8.000 .0500 7.950 10/01/2012
600116942 Graziano,Maria 8.250 .250 8.000 .0500 7.950 10/01/2012
600116943 Knauer,Benjamine 8.750 .250 8.500 .0500 8.450 10/01/2012
600116944 Fodge,Robert P 7.750 .250 7.500 .0500 7.450 10/01/2012
600116951 Surujbhan,Solkar 9.000 .250 8.750 .0500 8.700 10/01/2012
600116963 Coulson,Lawerence E 7.750 .250 7.500 .0500 7.450 10/01/2012
600116964 Zinn,Joan L. 7.875 .250 7.625 .0500 7.575 10/01/2012
600116965 Samuel,Willie B. 8.625 .250 8.375 .0500 8.325 10/01/2012
600116969 Jennings,Elizabeth A. 9.000 .250 8.750 .0500 8.700 10/01/2012
600116971 Panero,Arthur S. 8.875 .250 8.625 .0500 8.575 10/01/2012
600116972 Panero,Arthur S. 8.875 .250 8.625 .0500 8.575 10/01/2012
600116973 Panero,Arthur S. 8.875 .250 8.625 .0500 8.575 10/01/2012
600116974 Romak,Leslie K. 8.125 .250 7.875 .0500 7.825 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>
600116935 Pagarigan,Dulce Amor Y 266959 $781.94 01/01/1998 180
600116941 Mcweeny,Linda 274027 $758.65 01/01/1998 180
600116942 Graziano,Maria 256581 $1,497.90 01/01/1998 180
600116943 Knauer,Benjamine 267373 $899.51 01/01/1998 180
600116944 Fodge,Robert P 268958 $847.15 01/01/1998 180
600116951 Surujbhan,Solkar 254932 $2,109.67 01/01/1998 180
600116963 Coulson,Lawerence E 268893 $489.46 01/01/1998 180
600116964 Zinn,Joan L. 267678 $550.10 01/01/1998 180
600116965 Samuel,Willie B. 268578 $714.30 01/01/1998 180
600116969 Jennings,Elizabeth A. 269866 $762.73 01/01/1998 180
600116971 Panero,Arthur S. 263218 $437.98 01/01/1998 180
600116972 Panero,Arthur S. 263224 $437.98 01/01/1998 180
600116973 Panero,Arthur S. 263228 $437.98 01/01/1998 180
600116974 Romak,Leslie K. 268492 $674.02 01/01/1998 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>
600116935 Pagarigan,Dulce Amor Y $163,000.00 N
600116941 Mcweeny,Linda $111,000.00 N
600116942 Graziano,Maria $193,000.00 N
600116943 Knauer,Benjamine $120,000.00 N
600116944 Fodge,Robert P $180,000.00 N
600116951 Surujbhan,Solkar $260,000.00 N
600116963 Coulson,Lawerence E $65,000.00 N
600116964 Zinn,Joan L. $143,000.00 N
600116965 Samuel,Willie B. $108,000.00 N
600116969 Jennings,Elizabeth A. $94,000.00 N
600116971 Panero,Arthur S. $62,000.00 N
600116972 Panero,Arthur S. $61,000.00 N
600116973 Panero,Arthur S. $62,000.00 N
600116974 Romak,Leslie K. $118,600.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 18
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116976 Naylor,Roger L. 5115 West Silvertip Drive Salt Lake City UT 84118 $68,496.93
600116977 Drucker,Doug R. 1065 Country Pike New Braunfels TX 78132 $90,372.32
600116982 Rozansky,Barry S 9 Stonewall Drive Livingston NJ 07039 $99,117.63
600116983 Guthrie,Dwight D. 1651 Cortland Court Grand Junction CO 81506 $162,474.64
600116984 Cotton,Barry A. 1032 Christopher Ave. Round Rock TX 78664 $98,541.98
600116986 Slaughter,Lucille M. 381 S. Ames Street #a105 Lakewood CO 80226 $42,602.89
600116987 Volpe,Henry 10440 S W 124 Street Miami FL 33176 $93,917.54
600116988 Iman,Hasan Z 11119 High Star DRIVE Houston TX 77072 $60,711.16
600116989 Wilkinson,Timothy B. 4193 West Cottonwood Driv Mountain Green UT 84050 $118,853.56
600116993 Roberts,Jeremy 136 East 7th Street Lakewood NJ 08701 $52,051.79
600116994 Paddock,Melville Wade 511 Lilly Blvd Conroe TX 77301 $35,702.67
600117001 Delisle,Lois 144-146 East Street Chicopee MA 01020 $44,628.33
600117002 Botello,Miguel 550 Orange Avenue No. 148 Long Beach CA 90802 $22,775.28
600117004 Cunningham Jr,Edward M 1616 Nottoway Avenue Richmond VA 23227 $85,249.44
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116976 Naylor,Roger L. 8.000 .250 7.750 .0500 7.700 10/01/2012
600116977 Drucker,Doug R. 9.000 .250 8.750 .0500 8.700 10/01/2012
600116982 Rozansky,Barry S 7.875 .250 7.625 .0500 7.575 10/01/2012
600116983 Guthrie,Dwight D. 7.875 .250 7.625 .0500 7.575 10/01/2012
600116984 Cotton,Barry A. 8.125 .250 7.875 .0500 7.825 10/01/2012
600116986 Slaughter,Lucille M. 8.625 .250 8.375 .0500 8.325 10/01/2012
600116987 Volpe,Henry 8.000 .250 7.750 .0500 7.700 10/01/2012
600116988 Iman,Hasan Z 9.000 .250 8.750 .0500 8.700 10/01/2012
600116989 Wilkinson,Timothy B. 8.000 .250 7.750 .0500 7.700 10/01/2012
600116993 Roberts,Jeremy 8.250 .250 8.000 .0500 7.950 10/01/2012
600116994 Paddock,Melville Wade 8.625 .250 8.375 .0500 8.325 10/01/2012
600117001 Delisle,Lois 8.625 .250 8.375 .0500 8.325 10/01/2012
600117002 Botello,Miguel 9.125 .250 8.875 .0500 8.825 10/01/2012
600117004 Cunningham Jr,Edward M 8.000 .250 7.750 .0500 7.700 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>
600116976 Naylor,Roger L. 266526 $660.36 01/01/1998 180
600116977 Drucker,Doug R. 267297 $924.00 01/01/1998 180
600116982 Rozansky,Barry S 257220 $948.45 01/01/1998 180
600116983 Guthrie,Dwight D. 274416 $1,555.46 01/01/1998 180
600116984 Cotton,Barry A. 267041 $957.10 01/01/1998 180
600116986 Slaughter,Lucille M. 268591 $426.59 01/01/1998 180
600116987 Volpe,Henry 266056 $907.87 01/01/1998 180
600116988 Iman,Hasan Z 268379 $620.73 14 01/01/1998 180
600116989 Wilkinson,Timothy B. 268538 $1,145.83 01/01/1998 180
600116993 Roberts,Jeremy 263085 $509.32 01/01/1998 180
600116994 Paddock,Melville Wade 265021 $357.15 01/01/1998 180
600117001 Delisle,Lois 266827 $446.44 01/01/1998 180
600117002 Botello,Miguel 264637 $236.53 01/01/1998 180
600117004 Cunningham Jr,Edward M 267151 $821.86 01/01/1998 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>
600116976 Naylor,Roger L. $120,000.00 N
600116977 Drucker,Doug R. $125,000.00 N
600116982 Rozansky,Barry S $335,000.00 N
600116983 Guthrie,Dwight D. $205,000.00 N
600116984 Cotton,Barry A. $142,000.00 N
600116986 Slaughter,Lucille M. $67,000.00 N
600116987 Volpe,Henry $310,000.00 N
600116988 Iman,Hasan Z $68,000.00 N
600116989 Wilkinson,Timothy B. $178,000.00 N
600116993 Roberts,Jeremy $70,000.00 N
600116994 Paddock,Melville Wade $52,500.00 N
600117001 Delisle,Lois $98,000.00 N
600117002 Botello,Miguel $30,900.00 N
600117004 Cunningham Jr,Edward M $107,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 19
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117005 Mortimore,Mary L. 2119 South Dakota Ave. Provo UT 84606 $39,502.15
600117009 Thebault,Gary L 61585 Lake Shore Drive Joseph OR 97846 $194,289.41
600117010 Waters, Jr,Robert M 1165 Weirs Blvd #8 Laconia NH 03246 $39,673.29
600117015 Brennan,Babette Haggerty 3294 Capri Road West Palm Beach FL 33410 $63,484.82
600117016 Larson,Lance M 17938 Balfern Avenue Bellflower CA 90706 $189,810.28
600117020 Yang,Wu Yuan 5738 Running Brook Road Canandaigua NY 14425 $68,615.68
600117021 Lozowick,Farley 27679 Pine Drive Evergreen CO 80439 $118,917.77
600117023 Sharfstein,Gregory 573 Washington Avenue Albany NY 12206 $48,765.87
600117024 Pizzi,Virginia A. 56 Copper Lane Long Hill NJ 07928 $99,086.03
600117025 Grant Sr.,Robert W. 909 Richland Road #89 San Marcos CA 92069 $65,647.05
600117026 Waud,David C. 6882 N. W. 173 Drive #802 Miami FL 33015 $55,036.52
600117027 Jimenez,Barbara 47 East 67th Street New York NY 10021 $198,437.88
600117029 Fainstein,Claire 13620 S W 82nd Avenue Miami FL 33158 $174,662.21
600117037 Finn,Steven 126 Depot Place Nyack NY 10960 $49,591.63
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117005 Mortimore,Mary L. 7.750 .250 7.500 .0500 7.450 10/01/2012
600117009 Thebault,Gary L 8.000 .250 7.750 .0500 7.700 10/01/2012
600117010 Waters, Jr,Robert M 8.750 .250 8.500 .0500 8.450 10/01/2012
600117015 Brennan,Babette Haggerty 7.875 .250 7.625 .0500 7.575 10/01/2012
600117016 Larson,Lance M 7.875 .250 7.625 .0500 7.575 10/01/2012
600117020 Yang,Wu Yuan 8.375 .250 8.125 .0500 8.075 10/01/2012
600117021 Lozowick,Farley 7.625 .250 7.375 .0500 7.325 10/01/2012
600117023 Sharfstein,Gregory 7.875 .250 7.625 .0500 7.575 10/01/2012
600117024 Pizzi,Virginia A. 7.750 .250 7.500 .0500 7.450 10/01/2012
600117025 Grant Sr.,Robert W. 8.250 .250 8.000 .0500 7.950 10/01/2012
600117026 Waud,David C. 8.500 .250 8.250 .0500 8.200 10/01/2012
600117027 Jimenez,Barbara 9.250 .250 9.000 .0500 8.950 10/01/2012
600117029 Fainstein,Claire 8.000 .250 7.750 .0500 7.700 10/01/2012
600117037 Finn,Steven 8.750 .250 8.500 .0500 8.450 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>
600117005 Mortimore,Mary L. 268714 $376.51 01/01/1998 180
600117009 Thebault,Gary L 259757 $1,873.08 01/01/1998 180
600117010 Waters, Jr,Robert M 264706 $399.78 01/01/1998 180
600117015 Brennan,Babette Haggerty 267676 $607.49 01/01/1998 180
600117016 Larson,Lance M 270147 $1,816.28 01/01/1998 180
600117020 Yang,Wu Yuan 263505 $676.38 01/01/1998 180
600117021 Lozowick,Farley 274432 $1,120.96 01/01/1998 180
600117023 Sharfstein,Gregory 264365 $466.64 01/01/1998 180
600117024 Pizzi,Virginia A. 250377 $941.28 01/01/1998 180
600117025 Grant Sr.,Robert W. 267199 $649.99 01/01/1998 180
600117026 Waud,David C. 269475 $546.53 01/01/1998 180
600117027 Jimenez,Barbara 263968 $2,058.38 01/01/1998 180
600117029 Fainstein,Claire 267586 $1,683.86 01/01/1998 180
600117037 Finn,Steven 266522 $499.72 01/01/1998 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>
600117005 Mortimore,Mary L. $115,000.00 N
600117009 Thebault,Gary L $250,000.00 N
600117010 Waters, Jr,Robert M $70,000.00 N
600117015 Brennan,Babette Haggerty $91,500.00 N
600117016 Larson,Lance M $250,000.00 N
600117020 Yang,Wu Yuan $86,500.00 N
600117021 Lozowick,Farley $172,000.00 N
600117023 Sharfstein,Gregory $62,000.00 N
600117024 Pizzi,Virginia A. $219,900.00 N
600117025 Grant Sr.,Robert W. $90,000.00 N
600117026 Waud,David C. $75,000.00 N
600117027 Jimenez,Barbara $875,000.00 N
600117029 Fainstein,Claire $235,000.00 N
600117037 Finn,Steven $237,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 20
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117038 Finn,Steven 43 North Broadway Nyack NY 10960 $49,591.63
600117039 Trasatti,Gia Lynn 19172 Index Street #1 Northridge CA 91326 $103,102.25
600117040 Scadura,Michael F 2 Park Place, Unit C2a Newburgh NY 12550 $135,855.90
600117041 Vakoff,Linda F. 10150 West 17th Place Lakewood CO 80215 $54,525.22
600117044 Boysen,Eric V 6050 E Country Club Drive Flagstaff AZ 86004 $106,612.15
600117045 Wolf,Dale P 1701 Gemini Street Newberg OR 97132 $86,736.33
600117049 Dean,Matthew J. 444 East 500 South Provo UT 84606 $53,499.46
600117050 Reed,Johnny R. 430 South 7th Street La Porte TX 77571 $62,689.51
600117052 Kostanyan,Armen 14213 Enadia Way Van Nuys CA 91405 $105,104.94
600117053 ALVIR,JERRY J 3138 D 3/4 Road Grand Junction CO 81504 $55,056.69
600117054 Lantz,Roger D. 4105 West Adams Show Low AZ 85901 $30,405.59
600117056 Stager,Elizabeth 4346 Mahogany Ridge Drive Fort Lauderdale FL 33331 $101,525.76
600117057 Cole,Lauvella 1003 South Northwood Aven Compton CA 90220 $24,772.08
600117062 Eng,York Koon 3038-3040 Charlotte Avenu Rosemead CA 91770 $99,216.75
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117038 Finn,Steven 8.750 .250 8.500 .0500 8.450 10/01/2012
600117039 Trasatti,Gia Lynn 8.125 .250 7.875 .0500 7.825 10/01/2012
600117040 Scadura,Michael F 8.500 .250 8.250 .0500 8.200 10/01/2012
600117041 Vakoff,Linda F. 8.125 .250 7.875 .0500 7.825 10/01/2012
600117044 Boysen,Eric V 8.625 .250 8.375 .0500 8.325 10/01/2012
600117045 Wolf,Dale P 8.000 .250 7.750 .0500 7.700 10/01/2012
600117049 Dean,Matthew J. 8.500 .250 8.250 .0500 8.200 10/01/2012
600117050 Reed,Johnny R. 8.875 .250 8.625 .0500 8.575 10/01/2012
600117052 Kostanyan,Armen 8.375 .250 8.125 .0500 8.075 10/01/2012
600117053 ALVIR,JERRY J 9.000 .250 8.750 .0500 8.700 10/01/2012
600117054 Lantz,Roger D. 9.125 .250 8.875 .0500 8.825 10/01/2012
600117056 Stager,Elizabeth 8.250 .250 8.000 .0500 7.950 10/01/2012
600117057 Cole,Lauvella 7.500 .250 7.250 .0500 7.200 10/01/2012
600117062 Eng,York Koon 7.875 .250 7.625 .0500 7.575 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>
600117038 Finn,Steven 266524 $499.72 01/01/1998 180
600117039 Trasatti,Gia Lynn 266101 $1,001.40 01/01/1998 180
600117040 Scadura,Michael F 260886 $1,349.09 01/01/1998 180
600117041 Vakoff,Linda F. 270479 $529.59 01/01/1998 180
600117044 Boysen,Eric V 276430 $1,066.49 01/01/1998 180
600117045 Wolf,Dale P 276775 $836.20 01/01/1998 180
600117049 Dean,Matthew J. 270202 $531.27 01/01/1998 180
600117050 Reed,Johnny R. 269846 $636.33 01/01/1998 180
600117052 Kostanyan,Armen 270728 $1,036.07 01/01/1998 180
600117053 ALVIR,JERRY J 271228 $562.92 01/01/1998 180
600117054 Lantz,Roger D. 271237 $314.18 01/01/1998 180
600117056 Stager,Elizabeth 269941 $993.42 01/01/1998 180
600117057 Cole,Lauvella 272638 $231.75 01/01/1998 180
600117062 Eng,York Koon 269728 $949.40 01/01/1998 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>
600117038 Finn,Steven $230,000.00 N
600117039 Trasatti,Gia Lynn $160,000.00 N
600117040 Scadura,Michael F $186,500.00 N
600117041 Vakoff,Linda F. $142,000.00 N
600117044 Boysen,Eric V $180,000.00 N
600117045 Wolf,Dale P $141,000.00 N
600117049 Dean,Matthew J. $83,000.00 N
600117050 Reed,Johnny R. $79,000.00 N
600117052 Kostanyan,Armen $141,000.00 N
600117053 ALVIR,JERRY J $96,000.00 N
600117054 Lantz,Roger D. $41,000.00 N
600117056 Stager,Elizabeth $128,804.00 N
600117057 Cole,Lauvella $100,000.00 N
600117062 Eng,York Koon $140,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 21
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117065 Larson,Sheila 1317 Ogden St #5 Denver CO 80218 $62,344.39
600117069 Young,Patty C. 3107 Gamow Lane Boulder CO 80301 $54,301.44
600117072 Mclaren,Gary 983 Piedmont Oak Apopka FL 32703 $63,459.62
600117076 Bacon,Curtiss Stow 84-5015 Mamalahoa Highway Honaunau HI 96726 $146,736.42
600117077 Palau,Tasola 1259 South Stewart Street Salt Lake City UT 84104 $44,318.37
600117078 Gardner,Ronald L. 404 S. Preston Ave. Reedsburg WI 53955 $115,300.52
600117079 Golesis,Dimitri 3440 South 3650 East Salt Lake City UT 84109 $108,005.79
600117080 Mitchell,James A 4452 Valle Vista Pittsburg CA 94565 $57,989.43
600117085 Hollenbach,E. Keith 437 Indian Crest Drive Harleysville PA 19438 $99,107.92
600117086 Nail,Tommy R. 8282 Vine Street Denver CO 80229 $53,048.28
600117090 Doxey,Daniel A. 487 Doxey Street Ogden UT 84403 $42,620.56
600117091 Fiano,Anthony G. 6 Tinker Pond Road Bolton CT 06043 $113,543.79
600117092 La Badia,Peter 1604 Wandering Winds Way Las Vegas NV 89128 $49,553.96
600117097 Figueroa,Lupe 1485 East Wilson Avenue Glendale CA 91206 $53,502.30
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117065 Larson,Sheila 8.000 .250 7.750 .0500 7.700 10/01/2012
600117069 Young,Patty C. 7.625 .250 7.375 .0500 7.325 10/01/2012
600117072 Mclaren,Gary 8.375 .250 8.125 .0500 8.075 10/01/2012
600117076 Bacon,Curtiss Stow 8.250 .250 8.000 .0500 7.950 10/01/2012
600117077 Palau,Tasola 8.250 .250 8.000 .0500 7.950 10/01/2012
600117078 Gardner,Ronald L. 8.750 .250 8.500 .0500 8.450 10/01/2012
600117079 Golesis,Dimitri 7.750 .250 7.500 .0500 7.450 10/01/2012
600117080 Mitchell,James A 8.000 .250 7.750 .0500 7.700 10/01/2012
600117085 Hollenbach,E. Keith 7.750 .250 7.500 .0500 7.450 10/01/2012
600117086 Nail,Tommy R. 8.375 .250 8.125 .0500 8.075 10/01/2012
600117090 Doxey,Daniel A. 7.875 .250 7.625 .0500 7.575 10/01/2012
600117091 Fiano,Anthony G. 8.500 .250 8.250 .0500 8.200 10/01/2012
600117092 La Badia,Peter 7.750 .250 7.500 .0500 7.450 10/01/2012
600117097 Figueroa,Lupe 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>
600117065 Larson,Sheila 271559 $603.98 01/01/1998 180
600117069 Young,Patty C. 270177 $513.77 01/01/1998 180
600117072 Mclaren,Gary 269763 $625.55 01/01/1998 180
600117076 Bacon,Curtiss Stow 261586 $1,435.81 01/01/1998 180
600117077 Palau,Tasola 263824 $433.65 01/01/1998 180
600117078 Gardner,Ronald L. 268588 $1,161.86 01/01/1998 180
600117079 Golesis,Dimitri 270226 $1,035.40 01/01/1998 180
600117080 Mitchell,James A 277148 $559.06 01/01/1998 180
600117085 Hollenbach,E. Keith 270482 $941.28 01/01/1998 180
600117086 Nail,Tommy R. 271223 $522.92 01/01/1998 180
600117090 Doxey,Daniel A. 277040 $407.84 01/01/1998 180
600117091 Fiano,Anthony G. 267824 $1,127.53 01/01/1998 180
600117092 La Badia,Peter 269674 $470.64 01/01/1998 180
600117097 Figueroa,Lupe 266818 $496.76 01/01/1998 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>
600117065 Larson,Sheila $106,000.00 N
600117069 Young,Patty C. $175,000.00 N
600117072 Mclaren,Gary $100,500.00 N
600117076 Bacon,Curtiss Stow $185,000.00 N
600117077 Palau,Tasola $90,000.00 N
600117078 Gardner,Ronald L. $155,000.00 N
600117079 Golesis,Dimitri $317,000.00 N
600117080 Mitchell,James A $152,000.00 N
600117085 Hollenbach,E. Keith $126,000.00 N
600117086 Nail,Tommy R. $104,000.00 N
600117090 Doxey,Daniel A. $61,000.00 N
600117091 Fiano,Anthony G. $240,000.00 N
600117092 La Badia,Peter $185,765.00 N
600117097 Figueroa,Lupe $69,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 22
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117099 Harperink,George D. 3945 Duke Drive Lake Havasu Cit AZ 86404 $39,662.24
600117103 Olavarria,Nicolas Maria 21336 Greenspray Lane Huntington Beac CA 92646 $84,258.15
600117104 Steiner,John 805 East Main Denton MT 59430 $39,669.64
600117106 Fields,John E. 549 Lakeview Drive Washington PA 15301 $49,558.83
600117107 Ronk,Vernon H 1117 Lombard Street North Bend OR 97459 $82,827.95
600117111 Harden,Mary 103 Johnson Road Kula HI 96790 $143,693.94
600117112 Krajewski,Terrance J 3554 Kent 76th Street Se Caledonia MI 49316 $193,371.52
600117113 De Pasquale,Linda 64 Jester Lane Levittown NY 11756 $99,192.26
600117115 Schwartz,Arthur D 334 Lonely Lane Bangor PA 18013 $124,959.38
600117116 Blaney,David 385 2nd Ave. W. N. Kalispell MT 59901 $60,507.31
600117117 Kostelnik,Patricia 7856 Country Lane Colorado Spring CO 80920 $208,901.73
600117118 Branin,Dorothy F. 2 Dill Avenue West Berlin NJ 08091 $54,535.14
600117119 Andre,Paul W. 19483 East Bates Avenue Aurora CO 80013 $90,710.15
600117126 Costa,Robert J. 3090 Lillian Lane Margate FL 33063 $120,477.48
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117099 Harperink,George D. 8.375 .250 8.125 .0500 8.075 10/01/2012
600117103 Olavarria,Nicolas Maria 8.000 .250 7.750 .0500 7.700 10/01/2012
600117104 Steiner,John 8.625 .250 8.375 .0500 8.325 10/01/2012
600117106 Fields,John E. 7.875 .250 7.625 .0500 7.575 10/01/2012
600117107 Ronk,Vernon H 7.750 .250 7.500 .0500 7.450 10/01/2012
600117111 Harden,Mary 7.375 .250 7.125 .0500 7.075 10/01/2012
600117112 Krajewski,Terrance J 8.500 .250 8.250 .0500 8.200 10/01/2012
600117113 De Pasquale,Linda 8.875 .250 8.625 .0500 8.575 10/01/2012
600117115 Schwartz,Arthur D 8.625 .250 8.375 .0500 8.325 10/01/2012
600117116 Blaney,David 8.875 .250 8.625 .0500 8.575 10/01/2012
600117117 Kostelnik,Patricia 9.000 .250 8.750 .0500 8.700 10/01/2012
600117118 Branin,Dorothy F. 8.375 .250 8.125 .0500 8.075 10/01/2012
600117119 Andre,Paul W. 8.125 .250 7.875 .0500 7.825 10/01/2012
600117126 Costa,Robert J. 7.875 .250 7.625 .0500 7.575 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>
600117099 Harperink,George D. 267025 $390.97 01/01/1998 180
600117103 Olavarria,Nicolas Maria 272295 $812.31 01/01/1998 180
600117104 Steiner,John 273336 $396.83 01/01/1998 180
600117106 Fields,John E. 267750 $474.22 01/01/1998 180
600117107 Ronk,Vernon H 272665 $790.67 01/01/1998 180
600117111 Harden,Mary 270901 $1,339.41 01/01/1998 180
600117112 Krajewski,Terrance J 262650 $1,920.25 01/01/1998 180
600117113 De Pasquale,Linda 266421 $1,006.85 01/01/1998 180
600117115 Schwartz,Arthur D 270428 $1,250.02 01/01/1998 180
600117116 Blaney,David 271411 $614.17 01/01/1998 180
600117117 Kostelnik,Patricia 272621 $2,137.57 01/01/1998 180
600117118 Branin,Dorothy F. 272767 $537.59 01/01/1998 180
600117119 Andre,Paul W. 273553 $881.04 01/01/1998 180
600117126 Costa,Robert J. 269167 $1,152.84 7 01/01/1998 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>
600117099 Harperink,George D. $78,000.00 N
600117103 Olavarria,Nicolas Maria $158,000.00 N
600117104 Steiner,John $50,000.00 N
600117106 Fields,John E. $174,000.00 N
600117107 Ronk,Vernon H $105,000.00 N
600117111 Harden,Mary $182,000.00 N
600117112 Krajewski,Terrance J $260,000.00 N
600117113 De Pasquale,Linda $177,000.00 N
600117115 Schwartz,Arthur D $180,000.00 N
600117116 Blaney,David $82,000.00 N
600117117 Kostelnik,Patricia $281,000.00 N
600117118 Branin,Dorothy F. $107,000.00 N
600117119 Andre,Paul W. $122,000.00 N
600117126 Costa,Robert J. $143,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 23
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117127 Correa,Adolfo 2950 S W 139 Ave Miami FL 33175 $170,563.59
600117130 Schneider,Anne M. 888 N E 84 Street Miami FL 33138 $69,911.24
600117132 Taschyan,Tigran 1549 North Kingsley Drive Los Angeles CA 90027 $59,487.75
600117134 Leddy,Richard 579 West A Street Dixon CA 95620 $54,493.08
600117138 Jacobsen,Bruce 18885 218th Avenue Big Lake MN 55309 $29,335.49
600117140 Sutherby,Edward J 25 Harris Street Revere MA 02157 $97,217.22
600117141 Nellis,James Edward 3381 Breton Circle Atlanta GA 30319 $177,670.06
600117142 Nordaby,Michael & Sally A 336 Spruce Avenue Gloucester City NJ 08030 $89,197.13
600117145 Craddock,Joseph L 1690 Vallombrosa Avenue Chico CA 95926 $182,959.21
600117151 Kinoshita,Hazel H. 535 Ashbury Avenue El Cerrito CA 94530 $148,617.53
600117155 Iwanowski,Wojciech 67-76 Booth St. #4 M Forest Hills NY 11375 $57,267.71
600117156 Harooni,Shadan 141-06 71st Road Flushing NY 11367 $138,269.09
600117160 Venturino,Nataline 89 Lyndale Avenue Staten Island NY 10312 $77,552.64
600117163 Kyle,Glenda C 904 East Seneca Place Peoria IL 61603 $42,258.93
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117127 Correa,Adolfo 8.500 .250 8.250 .0500 8.200 10/01/2012
600117130 Schneider,Anne M. 8.500 .250 8.250 .0500 8.200 10/01/2012
600117132 Taschyan,Tigran 8.250 .250 8.000 .0500 7.950 10/01/2012
600117134 Leddy,Richard 7.375 .250 7.125 .0500 7.075 10/01/2012
600117138 Jacobsen,Bruce 8.000 .250 7.750 .0500 7.700 10/01/2012
600117140 Sutherby,Edward J 9.000 .250 8.750 .0500 8.700 10/01/2012
600117141 Nellis,James Edward 8.250 .250 8.000 .0500 7.950 10/01/2012
600117142 Nordaby,Michael & Sally A 7.750 .250 7.500 .0500 7.450 10/01/2012
600117145 Craddock,Joseph L 8.500 .250 8.250 .0500 8.200 10/01/2012
600117151 Kinoshita,Hazel H. 7.375 .250 7.125 .0500 7.075 10/01/2012
600117155 Iwanowski,Wojciech 8.500 .250 8.250 .0500 8.200 10/01/2012
600117156 Harooni,Shadan 7.875 .250 7.625 .0500 7.575 10/01/2012
600117160 Venturino,Nataline 8.125 .250 7.875 .0500 7.825 11/01/2012
600117163 Kyle,Glenda C 8.250 .250 8.000 .0500 7.950 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>
600117127 Correa,Adolfo 270081 $1,693.76 01/01/1998 180
600117130 Schneider,Anne M. 272646 $694.24 01/01/1998 180
600117132 Taschyan,Tigran 272955 $582.08 01/01/1998 180
600117134 Leddy,Richard 273966 $505.96 01/01/1998 180
600117138 Jacobsen,Bruce 274612 $286.70 01/01/1998 180
600117140 Sutherby,Edward J 252423 $993.98 01/01/1998 180
600117141 Nellis,James Edward 269901 $1,738.49 01/01/1998 180
600117142 Nordaby,Michael & Sally A 270364 $847.15 01/01/1998 180
600117145 Craddock,Joseph L 274822 $1,816.85 12 01/01/1998 180
600117151 Kinoshita,Hazel H. 273312 $1,379.88 01/01/1998 180
600117155 Iwanowski,Wojciech 266760 $568.69 14 01/01/1998 180
600117156 Harooni,Shadan 269021 $1,323.09 01/01/1998 180
600117160 Venturino,Nataline 269206 $751.05 01/01/1998 180
600117163 Kyle,Glenda C 273181 $412.31 01/01/1998 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>
600117127 Correa,Adolfo $295,000.00 N
600117130 Schneider,Anne M. $105,000.00 N
600117132 Taschyan,Tigran $120,000.00 N
600117134 Leddy,Richard $120,000.00 N
600117138 Jacobsen,Bruce $92,000.00 N
600117140 Sutherby,Edward J $147,000.00 N
600117141 Nellis,James Edward $256,000.00 N
600117142 Nordaby,Michael & Sally A $120,000.00 N
600117145 Craddock,Joseph L $205,000.00 N
600117151 Kinoshita,Hazel H. $237,000.00 N
600117155 Iwanowski,Wojciech $70,000.00 N
600117156 Harooni,Shadan $186,000.00 N
600117160 Venturino,Nataline $190,000.00 N
600117163 Kyle,Glenda C $75,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 24
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117164 Grote,George 809 Green Street Norristown Boro PA 19401 $55,557.67
600117169 Munera,Cindyhernan 10021 6th Street Pembroke Pines FL 33025 $24,865.88
600117178 Fuller,Steven D. 403 Cheyenne Blvd. Colorado Spring CO 80906 $94,507.23
600117182 Zarzycki,Mark H. 18422 Clemson Ave. Saratoga CA 95070 $154,120.80
600117183 Mc Crea,Ronald R 503 S. Ventura Street Ojai CA 93023 $93,405.13
600117184 Engel,Robert 2616 South Downing Denver CO 80210 $166,982.07
600117189 Barr,Nancy Jean 1816 Town Place Snellville GA 30078 $49,713.23
600117193 Fung,Ling Shun 9331 Broadway Temple City CA 91780 $146,535.76
600117194 Kowaluk,Bruce B 797 North Washington Blvd Ogden UT 84404 $102,396.10
600117195 Ferraro,Raymond Oliver 428 Kaholalele Road Kapaa HI 96746 $149,110.82
600117196 Meeks,Steffen M. 1236 Parkside Drive Bridgeville PA 15017 $171,378.03
600117200 Boothe,Bruce 16 Yellowstone Bluffs Park City MT 59063 $64,614.68
600117202 Ringstad,Calleen 26951 Calle Granada Dana Point CA 92624 $206,186.84
600117203 Barricklow,Todd Alan 1220-1222 North Olsen Ave Tucson AZ 85716 $84,009.98
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117164 Grote,George 9.125 .250 8.875 .0500 8.825 10/01/2012
600117169 Munera,Cindyhernan 8.875 .250 8.625 .0500 8.575 11/01/2012
600117178 Fuller,Steven D. 9.250 .250 9.000 .0500 8.950 11/01/2012
600117182 Zarzycki,Mark H. 8.250 .250 8.000 .0500 7.950 11/01/2012
600117183 Mc Crea,Ronald R 7.000 .250 6.750 .0500 6.700 11/01/2012
600117184 Engel,Robert 7.500 .250 7.250 .0500 7.200 11/01/2012
600117189 Barr,Nancy Jean 8.125 .250 7.875 .0500 7.825 11/01/2012
600117193 Fung,Ling Shun 7.875 .250 7.625 .0500 7.575 11/01/2012
600117194 Kowaluk,Bruce B 7.875 .250 7.625 .0500 7.575 11/01/2012
600117195 Ferraro,Raymond Oliver 7.750 .250 7.500 .0500 7.450 11/01/2012
600117196 Meeks,Steffen M. 7.750 .250 7.500 .0500 7.450 11/01/2012
600117200 Boothe,Bruce 7.750 .250 7.500 .0500 7.450 11/01/2012
600117202 Ringstad,Calleen 7.000 .250 6.750 .0500 6.700 11/01/2012
600117203 Barricklow,Todd Alan 8.000 .250 7.750 .0500 7.700 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>
600117164 Grote,George 274313 $572.16 01/01/1998 180
600117169 Munera,Cindyhernan 275033 $251.71 01/01/1998 180
600117178 Fuller,Steven D. 274639 $977.73 01/01/1998 180
600117182 Zarzycki,Mark H. 275176 $1,503.72 01/01/1998 180
600117183 Mc Crea,Ronald R 275187 $844.90 01/01/1998 180
600117184 Engel,Robert 275290 $1,557.38 01/01/1998 180
600117189 Barr,Nancy Jean 273320 $481.44 01/01/1998 180
600117193 Fung,Ling Shun 274129 $1,398.02 01/01/1998 180
600117194 Kowaluk,Bruce B 274620 $976.90 01/01/1998 180
600117195 Ferraro,Raymond Oliver 275761 $1,411.91 01/01/1998 180
600117196 Meeks,Steffen M. 275973 $1,622.76 01/01/1998 180
600117200 Boothe,Bruce 270154 $611.83 01/01/1998 180
600117202 Ringstad,Calleen 274424 $1,865.09 01/01/1998 180
600117203 Barricklow,Todd Alan 271603 $807.53 01/01/1998 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>
600117164 Grote,George $75,000.00 N
600117169 Munera,Cindyhernan $158,000.00 N
600117178 Fuller,Steven D. $135,000.00 N
600117182 Zarzycki,Mark H. $405,000.00 N
600117183 Mc Crea,Ronald R $137,000.00 N
600117184 Engel,Robert $210,000.00 N
600117189 Barr,Nancy Jean $85,000.00 N
600117193 Fung,Ling Shun $295,000.00 N
600117194 Kowaluk,Bruce B $150,000.00 N
600117195 Ferraro,Raymond Oliver $395,000.00 N
600117196 Meeks,Steffen M. $215,500.00 N
600117200 Boothe,Bruce $105,000.00 N
600117202 Ringstad,Calleen $260,000.00 N
600117203 Barricklow,Todd Alan $130,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 25
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117204 Bowman,Jan 9379 Highway 9, Unit 103 Breckenridge CO 80424 $49,716.39
600117206 Coughlin,Jerry 105 Mountain Avenue Warren NJ 07059 $158,987.46
600117207 Anzures,Ernest W 6923 East Florence Lane Mesa AZ 85208 $70,579.11
600117209 Mosher,William 48 Wellington Drive Tinton Falls NJ 07724 $119,311.76
600117210 Nguyen,Thanh Lot 3-a Beaver Lake Drive Ellijay GA 30540 $93,939.80
600117214 Millman,Robert 457 East Knox Drive Tucson AZ 85705 $48,464.17
600117215 Dang,Alan Lanh 36882 Ruschin Drive Newark CA 94560 $149,149.17
600117216 Gallinaro,Franco 2450 Camino Vida Palm Springs CA 92264 $72,318.76
600117217 Whitaker,Michael J 3712 East Spruce Drive Salt Lake City UT 84124 $69,575.86
600117219 Shalabi,Jose 2803 South 10th Avenue Arcadia CA 91006 $109,807.70
600117220 Worth,Corrie 2513 East Elm Street Phoenix AZ 85016 $107,414.07
600117221 Reece,Marilyn J. 158 West Norwich Avenue Clovis CA 93612 $53,488.02
600117223 Quezada,Jose Guadalupe 2515 & 2517 Houston Stree Los Angeles CA 90033 $29,829.84
600117225 Vasvari,Robert 970 Duncan Street F106 San Francisco CA 94131 $99,332.23
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117204 Bowman,Jan 8.250 .250 8.000 .0500 7.950 11/01/2012
600117206 Coughlin,Jerry 7.000 .250 6.750 .0500 6.700 11/01/2012
600117207 Anzures,Ernest W 7.750 .250 7.500 .0500 7.450 11/01/2012
600117209 Mosher,William 8.125 .250 7.875 .0500 7.825 11/01/2012
600117210 Nguyen,Thanh 7.750 .250 7.500 .0500 7.450 11/01/2012
600117214 Millman,Robert 7.875 .250 7.625 .0500 7.575 11/01/2012
600117215 Dang,Alan Lanh 8.250 .250 8.000 .0500 7.950 11/01/2012
600117216 Gallinaro,Franco 7.750 .250 7.500 .0500 7.450 11/01/2012
600117217 Whitaker,Michael J 7.500 .250 7.250 .0500 7.200 11/01/2012
600117219 Shalabi,Jose 8.875 .250 8.625 .0500 8.575 11/01/2012
600117220 Worth,Corrie 8.750 .250 8.500 .0500 8.450 11/01/2012
600117221 Reece,Marilyn J. 8.000 .250 7.750 .0500 7.700 11/01/2012
600117223 Quezada,Jose Guadalupe 8.250 .250 8.000 .0500 7.950 11/01/2012
600117225 Vasvari,Robert 6.375 .250 6.125 .0500 6.075 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>
600117204 Bowman,Jan 273293 $485.07 01/01/1998 180
600117206 Coughlin,Jerry 266868 $1,438.13 01/01/1998 180
600117207 Anzures,Ernest W 268731 $668.31 01/01/1998 180
600117209 Mosher,William 274422 $1,155.46 01/01/1998 180
600117210 Nguyen,Thanh 274598 $889.51 01/01/1998 180
600117214 Millman,Robert 274757 $462.37 01/01/1998 180
600117215 Dang,Alan Lanh 275207 $1,455.21 01/01/1998 180
600117216 Gallinaro,Franco 274851 $684.77 01/01/1998 180
600117217 Whitaker,Michael J 271451 $648.91 01/01/1998 180
600117219 Shalabi,Jose 276178 $1,111.56 01/01/1998 180
600117220 Worth,Corrie 276547 $1,079.40 01/01/1998 180
600117221 Reece,Marilyn J. 276801 $514.14 01/01/1998 180
600117223 Quezada,Jose Guadalupe 276437 $291.04 01/01/1998 180
600117225 Vasvari,Robert 277288 $864.25 01/01/1998 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>
600117204 Bowman,Jan $95,000.00 N
600117206 Coughlin,Jerry $250,000.00 N
600117207 Anzures,Ernest W $97,000.00 N
600117209 Mosher,William $208,000.00 N
600117210 Nguyen,Thanh $126,000.00 N
600117214 Millman,Robert $65,000.00 N
600117215 Dang,Alan Lanh $258,500.00 N
600117216 Gallinaro,Franco $97,000.00 N
600117217 Whitaker,Michael J $258,000.00 N
600117219 Shalabi,Jose $138,000.00 N
600117220 Worth,Corrie $144,000.00 N
600117221 Reece,Marilyn J. $87,000.00 N
600117223 Quezada,Jose Guadalupe $135,000.00 N
600117225 Vasvari,Robert $165,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 26
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117227 Dagenhart,John E 1100 Pike St Saint Charles MO 63301 $49,324.81
600117229 Van,Phuc Minh 231 Kenbrook Circle San Jose CA 95111 $44,733.25
600117231 Drecksler,Rhonda Rose 404 Powder River Avenue Bozeman MT 59715 $88,732.44
600117232 Harding,John G 611 East Willamette Avenu Colorado Spring CO 80909 $53,189.77
600117235 Fernandez,Ruben J. 9620 S. W. 182 Street Miami FL 33157 $97,803.78
600117236 Fernandez,Ruben J. 22203 S. W. 98 Place Miami FL 33190 $70,072.84
600117237 Fernandez,Ruben J. 9635 S.w. 182 Street Miami FL 33157 $87,963.76
600117240 Bocci,Susan A. 5357-5359 Baxter Court So Salem OR 97306 $114,042.14
600117241 Ramlagan,Kheelallchand 161 Wyona Street Brooklyn NY 11207 $150,720.88
600117242 Brown,Bertrand J. 8200 B. Bulls Ferry Road North Bergen NJ 07049 $107,748.90
600117244 Braillard,Caroline D. 404 Berry Drive Lebanon Townshi NJ 08826 $146,151.81
600117247 Kane,Richard L 3763 Mykonos Court Boca Raton FL 33487 $156,606.60
600117248 Difatta,Antonino 223 Woodland Avenue New Rochelle NY 10805 $119,319.33
600117250 Reinhardt,Jeffrey M 5904 Lake Lindero Drive Agoura Hills CA 91301 $143,174.11
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117227 Dagenhart,John E 8.500 .250 8.250 .0500 8.200 11/01/2012
600117229 Van,Phuc Minh 7.750 .250 7.500 .0500 7.450 11/01/2012
600117231 Drecksler,Rhonda Rose 8.000 .250 7.750 .0500 7.700 11/01/2012
600117232 Harding,John G 8.000 .250 7.750 .0500 7.700 11/01/2012
600117235 Fernandez,Ruben J. 7.500 .250 7.250 .0500 7.200 11/01/2012
600117236 Fernandez,Ruben J. 7.500 .250 7.250 .0500 7.200 11/01/2012
600117237 Fernandez,Ruben J. 7.500 .250 7.250 .0500 7.200 11/01/2012
600117240 Bocci,Susan A. 8.125 .250 7.875 .0500 7.825 11/01/2012
600117241 Ramlagan,Kheelallchand 8.000 .250 7.750 .0500 7.700 11/01/2012
600117242 Brown,Bertrand J. 8.500 .250 8.250 .0500 8.200 11/01/2012
600117244 Braillard,Caroline D. 7.500 .250 7.250 .0500 7.200 11/01/2012
600117247 Kane,Richard L 8.250 .250 8.000 .0500 7.950 11/01/2012
600117248 Difatta,Antonino 8.250 .250 8.000 .0500 7.950 11/01/2012
600117250 Reinhardt,Jeffrey M 8.125 .250 7.875 .0500 7.825 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>
600117227 Dagenhart,John E 276967 $488.44 01/01/1998 180
600117229 Van,Phuc Minh 279687 $423.57 01/01/1998 180
600117231 Drecksler,Rhonda Rose 273702 $852.92 01/01/1998 180
600117232 Harding,John G 274849 $511.27 01/01/1998 180
600117235 Fernandez,Ruben J. 275780 $912.18 01/01/1998 180
600117236 Fernandez,Ruben J. 275782 $653.54 01/01/1998 180
600117237 Fernandez,Ruben J. 275784 $820.41 01/01/1998 180
600117240 Bocci,Susan A. 277648 $1,104.43 01/01/1998 180
600117241 Ramlagan,Kheelallchand 268519 $1,448.77 7 01/01/1998 180
600117242 Brown,Bertrand J. 276515 $1,066.97 01/01/1998 180
600117244 Braillard,Caroline D. 281199 $1,367.35 01/01/1998 180
600117247 Kane,Richard L 267861 $1,527.98 01/01/1998 180
600117248 Difatta,Antonino 265212 $1,164.17 01/01/1998 180
600117250 Reinhardt,Jeffrey M 278034 $1,386.55 01/01/1998 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>
600117227 Dagenhart,John E $62,000.00 N
600117229 Van,Phuc Minh $91,000.00 N
600117231 Drecksler,Rhonda Rose $119,000.00 N
600117232 Harding,John G $85,000.00 N
600117235 Fernandez,Ruben J. $123,000.00 N
600117236 Fernandez,Ruben J. $94,000.00 N
600117237 Fernandez,Ruben J. $118,000.00 N
600117240 Bocci,Susan A. $144,700.00 N
600117241 Ramlagan,Kheelallchand $185,000.00 N
600117242 Brown,Bertrand J. $144,500.00 N
600117244 Braillard,Caroline D. $218,000.00 N
600117247 Kane,Richard L $210,000.00 N
600117248 Difatta,Antonino $273,000.00 N
600117250 Reinhardt,Jeffrey M $217,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 27
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117251 Shah,Jagdish J. 1348 East Baxter Drive Glendora CA 91741 $194,799.39
600117252 Brandon,Dale 592 West Indiancreek Dr # Grand Junction CO 81501 $39,757.62
600117255 Heathcote,Sylvia 406 South Holcomb Circle Vail AZ 85641 $39,815.17
600117257 Sarwari,Zaher A 5070 Canal Drive Lake Worth FL 33463 $93,454.89
600117258 Zhen,Jing F. 1847 Golden Gate Avenue Kingman AZ 86401 $56,669.46
600117261 Carle,Christine D. 12849 Permbroke Circle Leawood KS 66209 $74,769.67
600117262 Rabor,Reynaldo A. 3645 North Lotus Avenue Chicago IL 60641 $133,662.64
600117265 Thakur,Sabal 4229 Boyd Avenue Bronx NY 10466 $123,016.42
600117267 Simoneaux,Brad R. 12705 Magnolia Mound Trai Austin TX 78727 $74,331.75
600117269 Begger,Roderick 3034 South Ivory Court Aurora CO 80013 $63,640.99
600117274 Furniss,Kathleen J 4985 Burch Creek Drive Ogden UT 84403 $103,410.08
600117278 Simon,Tammy A. 864 Tangerine Street Corona CA 91720 $59,644.32
600117279 Capote,Mario R. 379 Donner Drive Crestline (Area CA 92325 $33,309.97
600117281 Pfeiffer,James 14570 Poplar Street Goldsboro MD 21636 $50,710.70
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117251 Shah,Jagdish J. 7.375 .250 7.125 .0500 7.075 11/01/2012
600117252 Brandon,Dale 7.500 .250 7.250 .0500 7.200 11/01/2012
600117255 Heathcote,Sylvia 7.875 .250 7.625 .0500 7.575 11/01/2012
600117257 Sarwari,Zaher A 8.000 .250 7.750 .0500 7.700 11/01/2012
600117258 Zhen,Jing F. 8.000 .250 7.750 .0500 7.700 11/01/2012
600117261 Carle,Christine D. 8.250 .250 8.000 .0500 7.950 11/01/2012
600117262 Rabor,Reynaldo A. 8.625 .250 8.375 .0500 8.325 11/01/2012
600117265 Thakur,Sabal 7.750 .250 7.500 .0500 7.450 11/01/2012
600117267 Simoneaux,Brad R. 7.125 .250 6.875 .0500 6.825 11/01/2012
600117269 Begger,Roderick 8.375 .250 8.125 .0500 8.075 11/01/2012
600117274 Furniss,Kathleen J 8.250 .250 8.000 .0500 7.950 11/01/2012
600117278 Simon,Tammy A. 7.750 .250 7.500 .0500 7.450 11/01/2012
600117279 Capote,Mario R. 8.250 .250 8.000 .0500 7.950 11/01/2012
600117281 Pfeiffer,James 8.250 .250 8.000 .0500 7.950 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>
600117251 Shah,Jagdish J. 278402 $1,803.05 01/01/1998 180
600117252 Brandon,Dale 281596 $370.81 01/01/1998 180
600117255 Heathcote,Sylvia 287104 $379.86 01/01/1998 180
600117257 Sarwari,Zaher A 274680 $898.32 01/01/1998 180
600117258 Zhen,Jing F. 278407 $544.72 01/01/1998 180
600117261 Carle,Christine D. 275360 $732.46 01/01/1998 180
600117262 Rabor,Reynaldo A. 276602 $1,333.36 01/01/1998 180
600117265 Thakur,Sabal 262507 $1,164.83 01/01/1998 180
600117267 Simoneaux,Brad R. 278844 $677.56 01/01/1998 180
600117269 Begger,Roderick 277949 $625.55 01/01/1998 180
600117274 Furniss,Kathleen J 278599 $1,008.95 01/01/1998 180
600117278 Simon,Tammy A. 275890 $564.77 01/01/1998 180
600117279 Capote,Mario R. 278376 $325.00 01/01/1998 180
600117281 Pfeiffer,James 276837 $494.78 01/01/1998 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>
600117251 Shah,Jagdish J. $245,000.00 N
600117252 Brandon,Dale $69,000.00 N
600117255 Heathcote,Sylvia $110,000.00 N
600117257 Sarwari,Zaher A $160,000.00 N
600117258 Zhen,Jing F. $97,000.00 N
600117261 Carle,Christine D. $145,000.00 N
600117262 Rabor,Reynaldo A. $168,000.00 N
600117265 Thakur,Sabal $165,000.00 N
600117267 Simoneaux,Brad R. $103,000.00 N
600117269 Begger,Roderick $117,000.00 N
600117274 Furniss,Kathleen J $174,000.00 N
600117278 Simon,Tammy A. $80,000.00 N
600117279 Capote,Mario R. $115,000.00 N
600117281 Pfeiffer,James $165,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 28
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117284 Johnson,Roxane M. 4124 Del Monte Place Sout Albany OR 97321 $49,700.33
600117286 Beauregard,Peter S. 4735 West Robindale Road Las Vegas NV 89118 $148,066.08
600117287 Barany Sr.,Stanley A. 437 N. Indiana Avenue Lindenhurst NY 11757 $107,400.85
600117288 Murayama,Takashi 1468 Dieman Avenue East Meadow NY 11554 $135,228.58
600117291 ADAMS,JEFFREY D 3225 South 930 West Syracuse UT 84075 $70,086.64
600117292 Pollock,Frank N. 5411 S W 128th Court Miami FL 33165 $58,913.91
600117293 Hill,Cynthia F 3150 Brookview Drive Marietta GA 30068 $117,300.49
600117294 Lau,Chi Lam 145 Kenberry East Lansing MI 48823 $45,736.17
600117296 Smith,Robert J 4315-4317 Segura Court Fort Worth TX 76132 $67,125.53
600117297 Smith,Freda M 4319-4321 Segura Court So Fort Worth TX 76132 $66,926.64
600117298 Smith,Freda M 4327 4329 Segura Court So Fort Worth TX 76132 $67,125.53
600117299 Larson,Donna 243-245 Moore Street Lowell MA 01851 $80,584.55
600117303 Sibley,B. Clare 43560 Routt County Road 3 Steamboat Sprin CO 80477 $139,133.03
600117304 Mannebach,Keith B. 1410 West Washington Stre Appleton WI 54914 $42,750.63
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117284 Johnson,Roxane M. 7.625 .250 7.375 .0500 7.325 11/01/2012
600117286 Beauregard,Peter S. 7.875 .250 7.625 .0500 7.575 12/01/2012
600117287 Barany Sr.,Stanley A. 8.500 .250 8.250 .0500 8.200 11/01/2012
600117288 Murayama,Takashi 8.250 .250 8.000 .0500 7.950 11/01/2012
600117291 ADAMS,JEFFREY D 7.875 .250 7.625 .0500 7.575 11/01/2012
600117292 Pollock,Frank N. 8.250 .250 8.000 .0500 7.950 11/01/2012
600117293 Hill,Cynthia F 7.750 .250 7.500 .0500 7.450 11/01/2012
600117294 Lau,Chi Lam 8.125 .250 7.875 .0500 7.825 11/01/2012
600117296 Smith,Robert J 8.500 .250 8.250 .0500 8.200 11/01/2012
600117297 Smith,Freda M 8.500 .250 8.250 .0500 8.200 11/01/2012
600117298 Smith,Freda M 8.500 .250 8.250 .0500 8.200 11/01/2012
600117299 Larson,Donna 9.375 .250 9.125 .0500 9.075 11/01/2012
600117303 Sibley,B. Clare 7.250 .250 7.000 .0500 6.950 11/01/2012
600117304 Mannebach,Keith B. 8.000 .250 7.750 .0500 7.700 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>
600117284 Johnson,Roxane M. 279618 $467.07 01/01/1998 180
600117286 Beauregard,Peter S. 278694 $1,408.45 7 01/01/1998 180
600117287 Barany Sr.,Stanley A. 269245 $1,063.52 01/01/1998 180
600117288 Murayama,Takashi 271395 $1,319.39 01/01/1998 180
600117291 ADAMS,JEFFREY D 277637 $668.66 01/01/1998 180
600117292 Pollock,Frank N. 278187 $574.81 01/01/1998 180
600117293 Hill,Cynthia F 279427 $1,110.71 01/01/1998 180
600117294 Lau,Chi Lam 284902 $442.93 01/01/1998 180
600117296 Smith,Robert J 273687 $664.70 01/01/1998 180
600117297 Smith,Freda M 273688 $662.73 01/01/1998 180
600117298 Smith,Freda M 273691 $664.70 01/01/1998 180
600117299 Larson,Donna 273172 $839.73 7 01/01/1998 180
600117303 Sibley,B. Clare 278794 $1,278.01 01/01/1998 180
600117304 Mannebach,Keith B. 279777 $410.94 01/01/1998 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>
600117284 Johnson,Roxane M. $130,000.00 N
600117286 Beauregard,Peter S. $165,000.00 N
600117287 Barany Sr.,Stanley A. $210,000.00 N
600117288 Murayama,Takashi $170,000.00 N
600117291 ADAMS,JEFFREY D $243,000.00 N
600117292 Pollock,Frank N. $79,000.00 N
600117293 Hill,Cynthia F $187,500.00 N
600117294 Lau,Chi Lam $125,000.00 N
600117296 Smith,Robert J $87,500.00 N
600117297 Smith,Freda M $87,500.00 N
600117298 Smith,Freda M $87,500.00 N
600117299 Larson,Donna $90,000.00 N
600117303 Sibley,B. Clare $335,000.00 N
600117304 Mannebach,Keith B. $57,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 29
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117306 Dellinger,Elda 2950 Jill Dr Loveland CO 80537 $79,515.27
600117307 Santizo,Mario R 8735 Calaveras Ave Rancho Cucamong CA 91730 $71,577.86
600117308 Brock,Michael 8759 W. Greenbrian Drive Peoria AZ 85382 $73,589.47
600117309 Vigneau,Barbara 5226 Vickie Drive San Diego CA 92109 $64,631.31
600117311 Nagorski,Kenneth R. 2164 Patch Street Stevens Point WI 54481 $41,764.40
600117315 Soto,Lucia 197 24th Street Brooklyn NY 11232 $75,587.66
600117318 Mazzante,Thomas A 2241 Sondor Place Bethlehem PA 18017 $151,156.76
600117319 Parsapour,Abdollah 7148 La Val Court Carmichael CA 95608 $117,246.13
600117320 Romero,Raquel 5233 Batavia Road South Gate CA 90280 $85,539.90
600117321 Zimmerman,Thomas E. 1207 N. La Crosse Ave Pueblo CO 81001 $17,893.30
600117322 Smith,Jay J. 77-6507 Sea View Circle Kailua Kona HI 96740 $68,780.71
600117331 Besserer,James E. 5356 Bosque Lane #116 West Palm Beach FL 33416 $17,904.50
600117332 Massa,Linda M. 120 Edith Avenue Woodbury NJ 08096 $48,057.24
600117333 De Jesus,Ismael 274-276 North 11th Street Newark NJ 07107 $91,311.47
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117306 Dellinger,Elda 7.500 .250 7.250 .0500 7.200 11/01/2012
600117307 Santizo,Mario R 7.875 .250 7.625 .0500 7.575 11/01/2012
600117308 Brock,Michael 8.500 .250 8.250 .0500 8.200 11/01/2012
600117309 Vigneau,Barbara 8.250 .250 8.000 .0500 7.950 11/01/2012
600117311 Nagorski,Kenneth R. 8.375 .250 8.125 .0500 8.075 11/01/2012
600117315 Soto,Lucia 8.750 .250 8.500 .0500 8.450 11/01/2012
600117318 Mazzante,Thomas A 8.500 .250 8.250 .0500 8.200 11/01/2012
600117319 Parsapour,Abdollah 8.000 .250 7.750 .0500 7.700 11/01/2012
600117320 Romero,Raquel 7.750 .250 7.500 .0500 7.450 11/01/2012
600117321 Zimmerman,Thomas E. 7.750 .250 7.500 .0500 7.450 11/01/2012
600117322 Smith,Jay J. 7.500 .250 7.250 .0500 7.200 11/01/2012
600117331 Besserer,James E. 9.000 .250 8.750 .0500 8.700 11/01/2012
600117332 Massa,Linda M. 9.000 .250 8.750 .0500 8.700 11/01/2011
600117333 De Jesus,Ismael 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>
600117306 Dellinger,Elda 280319 $741.61 01/01/1998 180
600117307 Santizo,Mario R 280347 $682.88 01/01/1998 180
600117308 Brock,Michael 280731 $728.71 12 01/01/1998 180
600117309 Vigneau,Barbara 281073 $630.59 01/01/1998 180
600117311 Nagorski,Kenneth R. 273061 $410.52 01/01/1998 180
600117315 Soto,Lucia 264270 $759.59 01/01/1998 180
600117318 Mazzante,Thomas A 277230 $1,496.80 01/01/1998 180
600117319 Parsapour,Abdollah 280488 $1,127.00 01/01/1998 180
600117320 Romero,Raquel 285327 $809.97 01/01/1998 180
600117321 Zimmerman,Thomas E. 277544 $169.43 01/01/1998 180
600117322 Smith,Jay J. 280916 $641.49 01/01/1998 180
600117331 Besserer,James E. 273932 $182.57 01/01/1998 180
600117332 Massa,Linda M. 204678 $507.13 01/01/1998 180
600117333 De Jesus,Ismael 271736 $871.15 01/01/1998 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>
600117306 Dellinger,Elda $126,000.00 N
600117307 Santizo,Mario R $106,000.00 N
600117308 Brock,Michael $82,250.00 N
600117309 Vigneau,Barbara $255,000.00 N
600117311 Nagorski,Kenneth R. $68,000.00 N
600117315 Soto,Lucia $95,000.00 N
600117318 Mazzante,Thomas A $190,000.00 N
600117319 Parsapour,Abdollah $157,250.00 N
600117320 Romero,Raquel $170,000.00 N
600117321 Zimmerman,Thomas E. $33,000.00 N
600117322 Smith,Jay J. $112,000.00 N
600117331 Besserer,James E. $24,000.00 N
600117332 Massa,Linda M. $90,000.00 N
600117333 De Jesus,Ismael $122,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 30
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117334 Pham,Dinh L. 46 Newland Street Malden MA 02148 $82,136.65
600117335 Fendlay,Scott K. 603 Academy Road Baltimore MD 21228 $83,502.06
600117340 Graham,Rob 3214 Hibiscus Ave. Fort Pierce FL 34946 $52,227.67
600117341 Lejeune,Edgar 305 E. Cleveland Lafayette CO 80026 $79,493.74
600117342 Versola,Anne D. 925 Lowena Drive Santa Barbara CA 93103 $29,835.43
600117344 Hojraj,Sergio D. 141 East 55th Street, Apt New York NY 10022 $79,546.21
600117351 Pettengill,Doris Lee 516 Elm Street Eaton CO 80615 $60,145.28
600117353 Duker,Michael A 58 Ten Syck Avenue Albany NY 12209 $64,627.21
600117354 Young,Patty C. 102 Polk Avenue Louisville CO 80027 $79,321.73
600117355 Nguyen,Phong Ba 937 West Pebble Drive Hanford CA 93230 $129,966.40
600117360 Greene,Harold R. 305 Gravel Hill Rd Southampton PA 18966 $70,836.83
600117361 Cook,Jonathan L. 16 Markham Circle Englewood NJ 07631 $156,576.54
600117362 Defilippo,Raul 162-41 Powells Cove Blvd Beechurst NY 11357 $66,139.23
600117363 Bizelli,Richard 1119 South New Springfield MO 65807 $41,753.75
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117334 Pham,Dinh L. 8.375 .250 8.125 .0500 8.075 11/01/2012
600117335 Fendlay,Scott K. 7.750 .250 7.500 .0500 7.450 11/01/2012
600117340 Graham,Rob 9.250 .250 9.000 .0500 8.950 11/01/2012
600117341 Lejeune,Edgar 7.000 .250 6.750 .0500 6.700 11/01/2012
600117342 Versola,Anne D. 8.625 .250 8.375 .0500 8.325 11/01/2012
600117344 Hojraj,Sergio D. 8.250 .250 8.000 .0500 7.950 11/01/2012
600117351 Pettengill,Doris Lee 7.875 .250 7.625 .0500 7.575 11/01/2012
600117353 Duker,Michael A 8.125 .250 7.875 .0500 7.825 11/01/2012
600117354 Young,Patty C. 7.625 .250 7.375 .0500 7.325 11/01/2012
600117355 Nguyen,Phong Ba 7.625 .250 7.375 .0500 7.325 11/01/2012
600117360 Greene,Harold R. 8.000 .250 7.750 .0500 7.700 11/01/2012
600117361 Cook,Jonathan L. 7.875 .250 7.625 .0500 7.575 11/01/2012
600117362 Defilippo,Raul 8.750 .250 8.500 .0500 8.450 11/01/2012
600117363 Bizelli,Richard 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>
600117334 Pham,Dinh L. 273756 $807.35 01/01/1998 180
600117335 Fendlay,Scott K. 279749 $790.67 01/01/1998 180
600117340 Graham,Rob 274483 $540.33 01/01/1998 180
600117341 Lejeune,Edgar 280714 $719.06 01/01/1998 180
600117342 Versola,Anne D. 281757 $297.62 01/01/1998 180
600117344 Hojraj,Sergio D. 279586 $776.12 01/01/1998 180
600117351 Pettengill,Doris Lee 281519 $573.81 01/01/1998 180
600117353 Duker,Michael A 274219 $625.87 01/01/1998 180
600117354 Young,Patty C. 279641 $745.44 01/01/1998 180
600117355 Nguyen,Phong Ba 281576 $1,221.37 01/01/1998 180
600117360 Greene,Harold R. 280491 $680.90 01/01/1998 180
600117361 Cook,Jonathan L. 284698 $1,493.81 01/01/1998 180
600117362 Defilippo,Raul 268541 $664.63 01/01/1998 180
600117363 Bizelli,Richard 280453 $398.35 01/01/1998 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>
600117334 Pham,Dinh L. $118,000.00 N
600117335 Fendlay,Scott K. $105,000.00 N
600117340 Graham,Rob $70,000.00 N
600117341 Lejeune,Edgar $214,000.00 N
600117342 Versola,Anne D. $290,000.00 N
600117344 Hojraj,Sergio D. $205,000.00 N
600117351 Pettengill,Doris Lee $81,000.00 N
600117353 Duker,Michael A $140,000.00 N
600117354 Young,Patty C. $159,950.00 N
600117355 Nguyen,Phong Ba $175,698.00 N
600117360 Greene,Harold R. $95,000.00 N
600117361 Cook,Jonathan L. $210,000.00 N
600117362 Defilippo,Raul $95,000.00 N
600117363 Bizelli,Richard $56,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 31
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117364 White,Graham 281 N E 16 Place #401 Fort Lauderdale FL 33305 $73,580.24
600117367 Strickland,Kent 7 Tahoe Court Coram NY 11727 $106,099.27
600117369 Singh,Harbhajan 97-15 120th Street Richmond Hill NY 11419 $194,538.79
600117370 Gomez,Enrique 5701 N W 24 Avenue #701 Boca Raton FL 33496 $180,990.31
600117373 Gonzales,Ralph T 2670 Royal Park Shingle Springs CA 95682 $128,643.44
600117374 Passman,Aaron 9632 Windom Point Avenue Las Vegas NV 89129 $166,008.08
600117375 Koski,Mikko A. 1823 South Glencoe Street Denver CO 80222 $79,766.24
600117378 Graham,Garreth 1529 Southwest 32nd Oklahoma City OK 73102 $11,171.06
600117380 Graham,Garrett 709 Southwest 35th Oklahoma City OK 73119 $9,176.23
600117381 Westerberg,Janice N 2503 West Olive Avenue Fresno CA 93728 $44,874.21
600117382 Shin,Tae Hyun 315 10th Street Palisades Park NJ 07650 $146,042.80
600117383 Lenoir,Mary Campbell 2104 Lusk Street Guntersville AL 35976 $39,888.20
600117385 Hastings,Daniel L 3607 Bramblevine Circle Lithonia GA 30038 $71,059.57
600117386 Prusiensky, Jr.,Alan Jame 26 Marcellus Avenue West Paterson NJ 07424 $115,682.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117364 White,Graham 8.250 .250 8.000 .0500 7.950 11/01/2012
600117367 Strickland,Kent 8.250 .250 8.000 .0500 7.950 12/01/2012
600117369 Singh,Harbhajan 8.750 .250 8.500 .0500 8.450 11/01/2012
600117370 Gomez,Enrique 8.500 .250 8.250 .0500 8.200 11/01/2012
600117373 Gonzales,Ralph T 8.500 .250 8.250 .0500 8.200 12/01/2012
600117374 Passman,Aaron 7.750 .250 7.500 .0500 7.450 12/01/2012
600117375 Koski,Mikko A. 7.875 .250 7.625 .0500 7.575 12/01/2012
600117378 Graham,Garreth 9.250 .250 9.000 .0500 8.950 12/01/2012
600117380 Graham,Garrett 9.250 .250 9.000 .0500 8.950 12/01/2012
600117381 Westerberg,Janice N 8.375 .250 8.125 .0500 8.075 12/01/2012
600117382 Shin,Tae Hyun 7.125 .250 6.875 .0500 6.825 12/01/2012
600117383 Lenoir,Mary Campbell 8.375 .250 8.125 .0500 8.075 12/01/2012
600117385 Hastings,Daniel L 8.875 .250 8.625 .0500 8.575 12/01/2012
600117386 Prusiensky, Jr.,Alan Jame 8.625 .250 8.375 .0500 8.325 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600117364 White,Graham 280845 $717.91 01/01/1998 180
600117367 Strickland,Kent 279163 $1,032.23 01/01/1998 180
600117369 Singh,Harbhajan 266237 $1,954.93 01/01/1998 180
600117370 Gomez,Enrique 275429 $1,792.23 01/01/1998 180
600117373 Gonzales,Ralph T 271981 $1,270.31 01/01/1998 180
600117374 Passman,Aaron 273703 $1,567.23 01/01/1998 180
600117375 Koski,Mikko A. 281062 $758.76 01/01/1998 180
600117378 Graham,Garreth 279531 $115.27 01/01/1998 180
600117380 Graham,Garrett 280957 $94.69 01/01/1998 180
600117381 Westerberg,Janice N 282093 $439.85 01/01/1998 180
600117382 Shin,Tae Hyun 277202 $1,327.04 01/01/1998 180
600117383 Lenoir,Mary Campbell 279133 $390.97 01/01/1998 180
600117385 Hastings,Daniel L 282053 $717.38 01/01/1998 180
600117386 Prusiensky, Jr.,Alan Jame 273145 $1,150.81 01/01/1998 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>
600117364 White,Graham $92,500.00 N
600117367 Strickland,Kent $133,000.00 N
600117369 Singh,Harbhajan $262,000.00 N
600117370 Gomez,Enrique $260,000.00 N
600117373 Gonzales,Ralph T $172,000.00 N
600117374 Passman,Aaron $218,500.00 N
600117375 Koski,Mikko A. $141,000.00 N
600117378 Graham,Garreth $14,000.00 N
600117380 Graham,Garrett $11,500.00 N
600117381 Westerberg,Janice N $60,000.00 N
600117382 Shin,Tae Hyun $266,500.00 N
600117383 Lenoir,Mary Campbell $69,500.00 N
600117385 Hastings,Daniel L $95,000.00 N
600117386 Prusiensky, Jr.,Alan Jame $145,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 32
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117387 Shenfield,Boris 404 East 79th Street, Uni New York NY 10021 $125,647.82
600117390 Tran,Hung Thanh 10430 River Bluff Lane Stockton CA 95209 $128,826.62
600117391 Childs,J. Roland 9901 Bellison Road Damascus MD 20872 $171,502.94
600117392 Skeie,Keith P. 183 Ho'opili Akau Street Kihei HI 96753 $134,601.15
600117395 Van Leeuwen,Mark 7358 South 1710 East Salt Lake City UT 84121 $164,339.37
600117396 Studzinski,Michael Box 50A Barney Road Brackney PA 18812 $33,653.55
600117398 Powell,Edward 9 Summit Court Las Flores CA 92688 $219,313.42
600117399 Spears, Jr.,Franklin Scot 606 Rio, Unit 6 Horseshoe Bay TX 78657 $44,875.62
600117402 Sinning,Dina 173 Glendale Drive Miami Springs FL 33166 $180,488.43
600117403 Choi,Jane 22 Ravenna Drive Pomona NY 10970 $159,527.29
600117404 Stefanovic,Milos 6614 Hampton Circle Boca Raton FL 33496 $58,825.68
600117405 Lovell,Hugh S. 64-5212 Kipahele Street Kamuela HI 96743 $119,645.47
600117406 Hanson,Donald L. 3322 West Monmouth Avenue Englewood CO 80110 $50,849.33
600117408 Henig,Joanne 7 Barberry Road West Islip NY 11795 $139,577.18
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117387 Shenfield,Boris 8.375 .250 8.125 .0500 8.075 12/01/2012
600117390 Tran,Hung Thanh 8.000 .250 7.750 .0500 7.700 12/01/2012
600117391 Childs,J. Roland 8.000 .250 7.750 .0500 7.700 12/01/2012
600117392 Skeie,Keith P. 7.750 .250 7.500 .0500 7.450 12/01/2012
600117395 Van Leeuwen,Mark 8.375 .250 8.125 .0500 8.075 12/01/2012
600117396 Studzinski,Michael 8.125 .250 7.875 .0500 7.825 12/01/2012
600117398 Powell,Edward 7.125 .250 6.875 .0500 6.825 12/01/2012
600117399 Spears, Jr.,Franklin Scot 8.500 .250 8.250 .0500 8.200 12/01/2012
600117402 Sinning,Dina 8.250 .250 8.000 .0500 7.950 12/01/2012
600117403 Choi,Jane 7.750 .250 7.500 .0500 7.450 12/01/2012
600117404 Stefanovic,Milos 7.750 .250 7.500 .0500 7.450 12/01/2012
600117405 Lovell,Hugh S. 7.750 .250 7.500 .0500 7.450 12/01/2012
600117406 Hanson,Donald L. 7.750 .250 7.500 .0500 7.450 12/01/2012
600117408 Henig,Joanne 7.500 .250 7.250 .0500 7.200 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600117387 Shenfield,Boris 279513 $1,231.56 01/01/1998 180
600117390 Tran,Hung Thanh 289842 $1,234.71 01/01/1998 180
600117391 Childs,J. Roland 282280 $1,643.73 01/01/1998 180
600117392 Skeie,Keith P. 283197 $1,270.73 01/01/1998 180
600117395 Van Leeuwen,Mark 266571 $1,610.80 01/01/1998 180
600117396 Studzinski,Michael 278768 $324.97 01/01/1998 180
600117398 Powell,Edward 284495 $1,992.83 01/01/1998 180
600117399 Spears, Jr.,Franklin Scot 283025 $443.13 01/01/1998 180
600117402 Sinning,Dina 282698 $1,755.95 01/01/1998 180
600117403 Choi,Jane 285144 $1,506.04 01/01/1998 180
600117404 Stefanovic,Milos 274042 $555.36 01/01/1998 180
600117405 Lovell,Hugh S. 282178 $1,129.53 01/01/1998 180
600117406 Hanson,Donald L. 285597 $480.05 01/01/1998 180
600117408 Henig,Joanne 282545 $1,297.82 01/01/1998 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>
600117387 Shenfield,Boris $210,000.00 N
600117390 Tran,Hung Thanh $161,500.00 N
600117391 Childs,J. Roland $350,000.00 N
600117392 Skeie,Keith P. $270,000.00 N
600117395 Van Leeuwen,Mark $206,000.00 N
600117396 Studzinski,Michael $45,000.00 N
600117398 Powell,Edward $443,990.00 N
600117399 Spears, Jr.,Franklin Scot $60,000.00 N
600117402 Sinning,Dina $228,000.00 N
600117403 Choi,Jane $253,000.00 N
600117404 Stefanovic,Milos $220,000.00 N
600117405 Lovell,Hugh S. $150,000.00 N
600117406 Hanson,Donald L. $128,000.00 N
600117408 Henig,Joanne $260,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 33
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117409 Strong,Kent E. 11732 Southeast Morrison Portland OR 97216 $56,840.68
600117410 Rios,Jorge 1451 Oriental Avenue Burley ID 83318 $49,970.56
600117412 Capito,Mary Iona 309 Carrizo Street Ojai CA 93023 $32,904.63
600117413 Motnyk,Eugene 2163 Yellowstone Street Golden CO 80401 $129,603.06
600117414 Quintanilla,Raul H. 8111 Coppershore Circle Houston TX 77095 $154,741.47
600117415 Hammack,Sharon 221 Fantango Raod Durango CO 81301 $72,786.69
600117416 Simonnot,Emmanuel 55 North Riverside Avenue Croton On Hudso NY 10520 $148,066.08
600117417 Hasaj,Andrew 83 Riverview Avenue Cliffside Park NJ 07010 $219,391.90
600117418 Szostek,Mary 84 Sussex Street Jersey City NJ 07302 $123,621.38
600117419 Reyes,Ricardo 1332 N. Ferndale St Anaheim CA 92801 $124,000.00
600117420 Mc Allister,J Garry 1487 E Thistle Downs Driv Sandy UT 84092 $169,519.51
600117421 Fernandez,Ruben J. 19363 S. W. 114th Court Miami FL 33157 $54,000.00
600117422 Lim,Anthony 220 Curley Court Paramus NJ 07652 $87,740.01
600119545 COTTON,GARY H. 401 NORWICK ROAD SW CEDAR RAPIDS IA 52405 $63,403.72
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117409 Strong,Kent E. 8.375 .250 8.125 .0500 8.075 12/01/2012
600117410 Rios,Jorge 9.250 .250 9.000 .0500 8.950 12/01/2012
600117412 Capito,Mary Iona 8.000 .250 7.750 .0500 7.700 12/01/2012
600117413 Motnyk,Eugene 7.375 .250 7.125 .0500 7.075 12/01/2012
600117414 Quintanilla,Raul H. 7.750 .250 7.500 .0500 7.450 12/01/2012
600117415 Hammack,Sharon 7.875 .250 7.625 .0500 7.575 12/01/2012
600117416 Simonnot,Emmanuel 7.875 .250 7.625 .0500 7.575 12/01/2012
600117417 Hasaj,Andrew 8.500 .250 8.250 .0500 8.200 12/01/2012
600117418 Szostek,Mary 7.375 .250 7.125 .0500 7.075 12/01/2012
600117419 Reyes,Ricardo 8.250 .250 8.000 .0500 7.950 01/01/2013
600117420 Mc Allister,J Garry 8.250 .250 8.000 .0500 7.950 12/01/2012
600117421 Fernandez,Ruben J. 7.500 .250 7.250 .0500 7.200 01/01/2013
600117422 Lim,Anthony 7.750 .250 7.500 .0500 7.450 12/01/2012
600119545 COTTON,GARY H. 7.250 .200 7.050 .0400 7.010 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>
600117409 Strong,Kent E. 284033 $557.13 01/01/1998 180
600117410 Rios,Jorge 285013 $515.63 7 01/01/1998 180
600117412 Capito,Mary Iona 285454 $315.37 01/01/1998 180
600117413 Motnyk,Eugene 285493 $1,195.90 01/01/1998 180
600117414 Quintanilla,Raul H. 286321 $1,460.86 01/01/1998 180
600117415 Hammack,Sharon 286852 $692.37 01/01/1998 180
600117416 Simonnot,Emmanuel 280277 $1,408.45 7 01/01/1998 180
600117417 Hasaj,Andrew 281194 $2,166.43 01/01/1998 180
600117418 Szostek,Mary 278962 $1,140.70 01/01/1998 180
600117419 Reyes,Ricardo 283250 $1,202.97 01/01/1998 180
600117420 Mc Allister,J Garry 287754 $1,649.24 01/01/1998 180
600117421 Fernandez,Ruben J. 283360 $500.59 01/01/1998 180
600117422 Lim,Anthony 281049 $828.32 01/01/1998 180
600119545 COTTON,GARY H. 5499702 $584.23 01/01/1998 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>
600117409 Strong,Kent E. $95,000.00 N
600117410 Rios,Jorge $55,679.00 N
600117412 Capito,Mary Iona $105,000.00 N
600117413 Motnyk,Eugene $165,000.00 N
600117414 Quintanilla,Raul H. $194,000.00 N
600117415 Hammack,Sharon $210,000.00 N
600117416 Simonnot,Emmanuel $165,000.00 N
600117417 Hasaj,Andrew $275,000.00 N
600117418 Szostek,Mary $404,000.00 N
600117419 Reyes,Ricardo $155,000.00 N
600117420 Mc Allister,J Garry $390,000.00 N
600117421 Fernandez,Ruben J. $72,000.00 N
600117422 Lim,Anthony $420,000.00 N
600119545 COTTON,GARY H. $85,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 34
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119554 SANDERSON,FRANCIS B. 387 MAD TOM ROAD EAST DORSET VT 05253 $97,021.42
600119593 BURMEISTER,WILBERT W. 301 LYNN STREET SILVER CITY IA 51571 $71,794.22
600119924 KIRWIN,MICHAEL P 16810 W FOUR MOUNDS RO NINE MILE FALLS WA 99026 $111,844.23
600119928 COLLINS,BRENT 3063 LEVI CIRCLE MEDFORD OR 97504 $94,484.10
600119931 BOUFFARD,DEBORAH J. 111 BEECH PLAINS ROAD BUXTON ME 04072 $65,706.47
600119933 CHOWDHARY,SARVJIT 4205 FORUM BLVD. COLUMBIA MO 65203 $118,435.49
600119938 POQUIZ,ANDRE M. 101 ERIN DRIVE VALLEJO CA 94589 $126,455.93
600120020 SHELLY,JAY H 5752 FOX TRAIL FLORENCE MT 59833 $99,704.55
600120098 ZIMMERMAN,ROBERT A. 1822 ASH STREET HUTCHINSON KS 67502 $49,758.37
600120283 DIAMOND,CLYDE 3822 STILLVIEW DRIVE HOUSTON TX 77069 $81,351.14
600124198 SICILIANO,MARIO 2998 FIELDBROOK LANE CLEARWATER FL 34621 $83,751.46
600124199 GUINN,MAT C 594 ORANGEWOOD DRIVE CONROE TX 77302 $58,327.16
600124200 WEIL,THOMAS H 5050 AMBASSADOR WAY #103 HOUSTON TX 77057 $45,045.50
600124201 SVETIC,ROBERT J 220 SOUTH P STREET VIRGINIA CITY NV 89440 $95,424.66
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119554 SANDERSON,FRANCIS B. 7.750 .200 7.550 .0400 7.510 11/01/2012
600119593 BURMEISTER,WILBERT W. 8.125 .200 7.925 .0400 7.885 12/01/2012
600119924 KIRWIN,MICHAEL P 7.375 .200 7.175 .0400 7.135 08/01/2012
600119928 COLLINS,BRENT 7.125 .200 6.925 .0400 6.885 08/01/2012
600119931 BOUFFARD,DEBORAH J. 7.750 .200 7.550 .0400 7.510 09/01/2012
600119933 CHOWDHARY,SARVJIT 7.375 .200 7.175 .0400 7.135 10/01/2012
600119938 POQUIZ,ANDRE M. 7.625 .200 7.425 .0400 7.385 09/01/2012
600120020 SHELLY,JAY H 7.750 .200 7.550 .0400 7.510 12/01/2012
600120098 ZIMMERMAN,ROBERT A. 7.000 .200 6.800 .0400 6.760 09/01/2012
600120283 DIAMOND,CLYDE 7.500 .200 7.300 .0400 7.260 12/01/2012
600124198 SICILIANO,MARIO 8.000 .250 7.750 .0500 7.700 05/01/2011
600124199 GUINN,MAT C 7.750 .250 7.500 .0500 7.450 12/01/2012
600124200 WEIL,THOMAS H 8.000 .250 7.750 .0500 7.700 09/01/2012
600124201 SVETIC,ROBERT J 7.625 .250 7.375 .0500 7.325 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>
600119554 SANDERSON,FRANCIS B. 5521505 $918.69 01/01/1998 180
600119593 BURMEISTER,WILBERT W. 5623160 $693.28 01/01/1998 180
600119924 KIRWIN,MICHAEL P 6123491 $1,045.03 01/01/1998 180
600119928 COLLINS,BRENT 6141337 $869.60 01/01/1998 180
600119931 BOUFFARD,DEBORAH J. 6144471 $625.95 01/01/1998 180
600119933 CHOWDHARY,SARVJIT 6161566 $1,103.91 01/01/1998 180
600119938 POQUIZ,ANDRE M. 6189807 $1,195.69 01/01/1998 180
600120020 SHELLY,JAY H 6309959 $941.28 01/01/1998 180
600120098 ZIMMERMAN,ROBERT A. 9914953 $453.01 01/01/1998 180
600120283 DIAMOND,CLYDE 6492656 $763.86 01/01/1998 180
600124198 SICILIANO,MARIO 1015098 $852.92 01/01/1998 180
600124199 GUINN,MAT C 1044040 $550.65 01/01/1998 180
600124200 WEIL,THOMAS H 1075736 $435.78 01/01/1998 180
600124201 SVETIC,ROBERT J 1083757 $896.76 01/01/1998 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>
600119554 SANDERSON,FRANCIS B. $122,000.00 N
600119593 BURMEISTER,WILBERT W. $123,000.00 N
600119924 KIRWIN,MICHAEL P $142,000.00 N
600119928 COLLINS,BRENT $123,000.00 N
600119931 BOUFFARD,DEBORAH J. $84,000.00 N
600119933 CHOWDHARY,SARVJIT $150,000.00 N
600119938 POQUIZ,ANDRE M. $160,000.00 N
600120020 SHELLY,JAY H $242,000.00 N
600120098 ZIMMERMAN,ROBERT A. $63,000.00 N
600120283 DIAMOND,CLYDE $103,000.00 N
600124198 SICILIANO,MARIO $127,500.00 N
600124199 GUINN,MAT C $78,000.00 N
600124200 WEIL,THOMAS H $57,000.00 N
600124201 SVETIC,ROBERT J $152,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 35
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124202 SEELY,CASEY D 3 COUNTY ROAD 6403 KIRTLAND NM 87417 $48,694.51
600124203 CHEUNG,LUT HIN 53 HILLARY CIRCLE NEW CASTLE DE 19720 $79,755.73
600124204 HARDISTY,II,JAMES S 7710 HIGHLAND AVENUE N. TAMPA FL 33604 $22,409.57
600124205 DINH,BRIAN K 815 SHEFFIELD COURT WILMINGTON NC 28405 $95,740.17
600124206 MAGEE,LYNETTE D 3945 SPRING LAKES BLVD OLIVE BRANCH MS 38654 $79,270.63
600124207 KLINGMAN,DANA 214 AWALAU ROAD HAIKU HI 96708 $144,966.16
600124208 PHAM,DANG 6545 LYNDALE DRIVE WATAUGA TX 76148 $56,825.95
600124209 ETZKORN,DEAN 1025 SOUTHWEST 120TH STRE SEATTLE WA 98146 $154,019.12
600124210 MCCORD,ROBERT S 627 BLACKSTONE DRIVE MYRTLE BEACH SC 29579 $98,887.03
600124211 BURRUS,DARREN T 48197 FROG POND LANE BUXTON NC 27920 $89,197.13
600124212 HARRIS,ROY 4161 SOUTH LONE TREE LANE TAYLORSVILLE UT 84119 $59,436.33
600124213 BAUGHMAN,DWAYNE C 34 RAILROAD AVENUE HELPER UT 84526 $49,086.62
600124214 CLEGG,CORY D 8463 SOUTH SOLACE COURT WEST JORDAN UT 84088 $103,092.33
600124215 WENHOLD,DOROTHY M 117 GRAVEL PIKE COLLEGEVILLE PA 19426 $49,573.12
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124202 SEELY,CASEY D 7.500 .250 7.250 .0500 7.200 09/01/2012
600124203 CHEUNG,LUT HIN 7.375 .250 7.125 .0500 7.075 12/01/2012
600124204 HARDISTY,II,JAMES S 7.750 .250 7.500 .0500 7.450 10/01/2012
600124205 DINH,BRIAN K 7.750 .250 7.500 .0500 7.450 10/01/2012
600124206 MAGEE,LYNETTE D 7.500 .250 7.250 .0500 7.200 10/01/2012
600124207 KLINGMAN,DANA 7.500 .250 7.250 .0500 7.200 10/01/2012
600124208 PHAM,DANG 7.375 .250 7.125 .0500 7.075 12/01/2012
600124209 ETZKORN,DEAN 7.000 .250 6.750 .0500 6.700 11/01/2012
600124210 MCCORD,ROBERT S 7.000 .250 6.750 .0500 6.700 12/01/2012
600124211 BURRUS,DARREN T 7.750 .250 7.500 .0500 7.450 10/01/2012
600124212 HARRIS,ROY 7.750 .250 7.500 .0500 7.450 10/01/2012
600124213 BAUGHMAN,DWAYNE C 8.500 .250 8.250 .0500 8.200 10/01/2012
600124214 CLEGG,CORY D 8.000 .250 7.750 .0500 7.700 10/01/2012
600124215 WENHOLD,DOROTHY M 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>
600124202 SEELY,CASEY D 1136136 $458.87 01/01/1998 180
600124203 CHEUNG,LUT HIN 1148658 $735.94 01/01/1998 180
600124204 HARDISTY,II,JAMES S 1152510 $214.14 01/01/1998 180
600124205 DINH,BRIAN K 1184611 $985.52 01/01/1998 180
600124206 MAGEE,LYNETTE D 1223977 $741.61 01/01/1998 180
600124207 KLINGMAN,DANA 1241272 $1,356.22 01/01/1998 180
600124208 PHAM,DANG 1249765 $524.36 01/01/1998 180
600124209 ETZKORN,DEAN 1253396 $1,393.18 01/01/1998 180
600124210 MCCORD,ROBERT S 1301389 $891.64 01/01/1998 180
600124211 BURRUS,DARREN T 1325513 $847.15 01/01/1998 180
600124212 HARRIS,ROY 1350989 $564.77 01/01/1998 180
600124213 BAUGHMAN,DWAYNE C 1352134 $487.45 7 01/01/1998 180
600124214 CLEGG,CORY D 1353114 $993.88 01/01/1998 180
600124215 WENHOLD,DOROTHY M 1353906 $485.07 01/01/1998 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>
600124202 SEELY,CASEY D $66,000.00 N
600124203 CHEUNG,LUT HIN $214,368.00 N
600124204 HARDISTY,II,JAMES S $28,500.00 N
600124205 DINH,BRIAN K $204,700.00 N
600124206 MAGEE,LYNETTE D $149,900.00 N
600124207 KLINGMAN,DANA $480,000.00 N
600124208 PHAM,DANG $82,000.00 N
600124209 ETZKORN,DEAN $265,000.00 N
600124210 MCCORD,ROBERT S $124,000.00 N
600124211 BURRUS,DARREN T $157,000.00 N
600124212 HARRIS,ROY $93,000.00 N
600124213 BAUGHMAN,DWAYNE C $55,000.00 N
600124214 CLEGG,CORY D $134,000.00 N
600124215 WENHOLD,DOROTHY M $106,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 36
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124216 BUEHRING,FRED E 26 WHITE BEAUTY ESTATES TAFTON PA 18464 $57,748.44
600124217 ALEXANDROWICZ,MICHAEL 814 EVERGREEN AVENUE FOLSOM PA 19033 $118,983.73
600124218 CROCKETT,PHILLIP D 310 WEST DILL DRIVE DEWITT MI 48820 $101,905.82
600124219 BRANDT,CARL A 6255 POTTERS ROAD SARANAC MI 48881 $98,318.20
600124220 LORENZ,KENNETH 1157 48TH STREET KENTWOOD MI 49508 $64,800.00
600124221 HOLOWEIKO,GREGG 2240 PARKER ROAD WAYLAND MI 49348 $127,630.10
600124222 HALL,DENNIS 1301 WEST 8TH STREET #52 MESA AZ 85203 $62,125.43
600124223 TSIAO,CHIHJI 8534 WILLOW OAK ROAD BALTIMORE MD 21234 $55,875.00
600124224 MILLER,PAMELA ANN 4306 PRIMROSE AVENUE SANTA ROSA CA 95407 $79,520.54
600124226 MCCOLLUM,WARREN R 34017 1ST CIRCLE SOUTH FEDERAL WAY WA 98003 $49,848.99
600124227 RUVOLO,FRANK J 3601 SOUTH PARTON STREET SANTA ANA CA 92707 $55,920.84
600124228 NGOC NGUYEN,LAN THI 10960 BELCANTO DRIVE RANCHO CUCAMONG CA 91737 $102,933.29
600124229 KILLAM,EDWARD 71845 SAHARA ROAD RANCHO MIRAGE CA 92270 $145,135.07
600124230 CONNOR,WILLIAM 5212 GLEN OAKS DRIVE BATON ROUGE LA 70711 $33,364.50
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124216 BUEHRING,FRED E 8.750 .250 8.500 .0500 8.450 10/01/2012
600124217 ALEXANDROWICZ,MICHAEL 8.625 .250 8.375 .0500 8.325 10/01/2012
600124218 CROCKETT,PHILLIP D 7.250 .250 7.000 .0500 6.950 11/01/2012
600124219 BRANDT,CARL A 8.125 .250 7.875 .0500 7.825 12/01/2012
600124220 LORENZ,KENNETH 7.750 .250 7.500 .0500 7.450 01/01/2013
600124221 HOLOWEIKO,GREGG 8.000 .250 7.750 .0500 7.700 12/01/2012
600124222 HALL,DENNIS 7.625 .250 7.375 .0500 7.325 11/01/2012
600124223 TSIAO,CHIHJI 7.000 .250 6.750 .0500 6.700 01/01/2013
600124224 MILLER,PAMELA ANN 7.625 .250 7.375 .0500 7.325 11/01/2012
600124226 MCCOLLUM,WARREN R 7.500 .250 7.250 .0500 7.200 12/01/2012
600124227 RUVOLO,FRANK J 7.875 .250 7.625 .0500 7.575 10/01/2012
600124228 NGOC NGUYEN,LAN THI 7.625 .250 7.375 .0500 7.325 10/01/2012
600124229 KILLAM,EDWARD 7.250 .250 7.000 .0500 6.950 10/01/2012
600124230 CONNOR,WILLIAM 8.250 .250 8.000 .0500 7.950 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>
600124216 BUEHRING,FRED E 1354249 $584.68 19 01/01/1998 180
600124217 ALEXANDROWICZ,MICHAEL 1354633 $1,190.50 01/01/1998 180
600124218 CROCKETT,PHILLIP D 1363140 $944.81 01/01/1998 180
600124219 BRANDT,CARL A 1364415 $949.40 12 01/01/1998 180
600124220 LORENZ,KENNETH 1365056 $609.95 01/01/1998 180
600124221 HOLOWEIKO,GREGG 1365120 $1,223.23 01/01/1998 180
600124222 HALL,DENNIS 1369779 $583.83 01/01/1998 180
600124223 TSIAO,CHIHJI 1394061 $502.22 01/01/1998 180
600124224 MILLER,PAMELA ANN 1403121 $747.30 01/01/1998 180
600124226 MCCOLLUM,WARREN R 1427031 $463.51 01/01/1998 180
600124227 RUVOLO,FRANK J 1434337 $535.87 01/01/1998 180
600124228 NGOC NGUYEN,LAN THI 1435043 $1,261.08 01/01/1998 180
600124229 KILLAM,EDWARD 1435129 $1,337.34 01/01/1998 180
600124230 CONNOR,WILLIAM 1439892 $327.42 01/01/1998 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>
600124216 BUEHRING,FRED E $65,000.00 N
600124217 ALEXANDROWICZ,MICHAEL $150,000.00 N
600124218 CROCKETT,PHILLIP D $289,000.00 N
600124219 BRANDT,CARL A $116,000.00 N
600124220 LORENZ,KENNETH $116,000.00 N
600124221 HOLOWEIKO,GREGG $236,000.00 N
600124222 HALL,DENNIS $91,000.00 N
600124223 TSIAO,CHIHJI $74,500.00 N
600124224 MILLER,PAMELA ANN $202,000.00 N
600124226 MCCOLLUM,WARREN R $195,000.00 N
600124227 RUVOLO,FRANK J $199,000.00 N
600124228 NGOC NGUYEN,LAN THI $209,500.00 N
600124229 KILLAM,EDWARD $365,000.00 N
600124230 CONNOR,WILLIAM $45,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 37
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124231 FISCHER JR,MARTIN P ROUTE 1, BOX 466 RAMONA OK 74006 $81,711.86
600124232 LACOMBE SR,RAYMOND J 112 COVENTRY DRIVE INDIAN TRAIL NC 28079 $26,751.15
600124233 ASARD,JOHN 102 PECK AVENUE WEST HAVEN CT 06488 $49,713.23
600124234 GRUND,JAMES L 3101 GROVE CIRCLE HAPEVILLE GA 30354 $37,438.97
600124235 SMITH,RICHARD L 12206 67TH AVENUE CT E PUYALLUP WA 98373 $58,543.12
600124236 BENEFRAIM,HAIM RAN 133 CONCERTO DRIVE OAK PARK CA 91301 $191,488.05
600124237 WALSH,MARYANN 1734 JACKSON AVENUE ABILENE TX 79602 $44,727.40
600124238 NGUYEN,CUONG 936 WINTERWOOD COURT ARLINGTON TX 76017 $88,348.15
600124239 CONKLIN,KATHLEEN E 170 NINA STREET ST. PAUL MN 55102 $64,590.61
600124240 DRUXMAN,ESTHER L 618 122ND AVENUE NORTHEAS BELLEVUE WA 98005 $66,871.11
600124241 BERGER,JERRY D 2101 TRAILS END DRIVE BELFAIR WA 98528 $49,700.35
600124242 SMITH,JEFFERY S 633 INDEX AVENUE NORTHEAS RENTON WA 98059 $94,143.26
600124243 PEARSON,EUGENE A J 1404 PALM DRIVE SE WINTER HAVEN FL 33880 $31,225.08
600124244 BLASER,MARTY 4955 WEST 4000 NORTH REXBURG ID 83440 $98,504.03
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124231 FISCHER JR,MARTIN P 8.500 .250 8.250 .0500 8.200 10/01/2012
600124232 LACOMBE SR,RAYMOND J 7.375 .250 7.125 .0500 7.075 10/01/2012
600124233 ASARD,JOHN 8.125 .250 7.875 .0500 7.825 11/01/2012
600124234 GRUND,JAMES L 7.125 .250 6.875 .0500 6.825 10/01/2012
600124235 SMITH,RICHARD L 7.500 .250 7.250 .0500 7.200 11/01/2012
600124236 BENEFRAIM,HAIM RAN 7.750 .250 7.500 .0500 7.450 11/01/2012
600124237 WALSH,MARYANN 7.750 .250 7.500 .0500 7.450 10/01/2012
600124238 NGUYEN,CUONG 7.750 .250 7.500 .0500 7.450 11/01/2012
600124239 CONKLIN,KATHLEEN E 7.250 .250 7.000 .0500 6.950 11/01/2012
600124240 DRUXMAN,ESTHER L 7.250 .250 7.000 .0500 6.950 10/01/2012
600124241 BERGER,JERRY D 7.625 .250 7.375 .0500 7.325 11/01/2012
600124242 SMITH,JEFFERY S 7.625 .250 7.375 .0500 7.325 10/01/2012
600124243 PEARSON,EUGENE A J 8.000 .250 7.750 .0500 7.700 10/01/2012
600124244 BLASER,MARTY 7.750 .250 7.500 .0500 7.450 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>
600124231 FISCHER JR,MARTIN P 1443840 $811.43 01/01/1998 180
600124232 LACOMBE SR,RAYMOND J 1472779 $248.38 01/01/1998 180
600124233 ASARD,JOHN 1474875 $481.44 01/01/1998 180
600124234 GRUND,JAMES L 1480502 $342.40 19 01/01/1998 180
600124235 SMITH,RICHARD L 1490286 $546.01 01/01/1998 180
600124236 BENEFRAIM,HAIM RAN 1497437 $1,816.66 01/01/1998 180
600124237 WALSH,MARYANN 1507229 $424.80 01/01/1998 180
600124238 NGUYEN,CUONG 1508397 $836.56 01/01/1998 180
600124239 CONKLIN,KATHLEEN E 1515997 $593.36 01/01/1998 180
600124240 DRUXMAN,ESTHER L 1520485 $616.18 01/01/1998 180
600124241 BERGER,JERRY D 1521017 $467.06 01/01/1998 180
600124242 SMITH,JEFFERY S 1521541 $887.42 01/01/1998 180
600124243 PEARSON,EUGENE A J 1528873 $301.03 01/01/1998 180
600124244 BLASER,MARTY 1556517 $941.28 01/01/1998 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>
600124231 FISCHER JR,MARTIN P $103,000.00 N
600124232 LACOMBE SR,RAYMOND J $95,000.00 N
600124233 ASARD,JOHN $83,700.00 N
600124234 GRUND,JAMES L $42,000.00 N
600124235 SMITH,RICHARD L $115,000.00 N
600124236 BENEFRAIM,HAIM RAN $257,500.00 N
600124237 WALSH,MARYANN $67,000.00 N
600124238 NGUYEN,CUONG $118,500.00 N
600124239 CONKLIN,KATHLEEN E $97,700.00 N
600124240 DRUXMAN,ESTHER L $167,500.00 N
600124241 BERGER,JERRY D $120,000.00 N
600124242 SMITH,JEFFERY S $145,000.00 N
600124243 PEARSON,EUGENE A J $42,000.00 N
600124244 BLASER,MARTY $230,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 38
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124245 KING,SR,GARY W 106 BELMONT DRIVE KETCHUM ID 83340 $123,847.93
600124246 OWENS,JAMES DAVID 77 E VANN CIRCLE CHATSWORTH GA 30705 $18,738.63
600124247 BAILIE,CHRISTOPHER D 4812 WHITTIER DRIVE OLD HICKORY TN 37138 $72,957.66
600124248 COLEMAN,ROBERT T 250 STELLA MARIS DRIVE SO NAPLES FL 34114 $150,204.28
600124249 MITCHELL,JACK 8240 BUTTE ROAD MELBA ID 83641 $88,080.52
600124250 WRIGHT,ADAM 1049 FAYETTE STREET UNIONDALE NY 11553 $49,544.14
600124251 D'AGOSTINO,FRANK 80 HOMEWOOD AVENUE YONKERS NY 10701 $172,729.25
600124252 ASHERIAN,NOOROLLAH 42 CORNELL DRIVE PLAINVIEW NY 11803 $208,246.29
600124256 CHON,CHRIS HYON 219-82 64TH AVENUE - UNIT BAYSIDE NY 11364 $115,309.79
600124257 KATA,VENKATESWARL C 4208 KENT AVENUE METAIRIE LA 70006 $91,159.63
600124258 CUCCIA,L. JAY 70 CHATEAU MOUTON KENNER LA 70065 $141,148.97
600124259 OWENS,JOHN RANDALL 9151 DABNEY DENHAM SPRINGS LA 70726 $33,391.80
600124260 PICCIOTTI,MICHAEL 58 SCHUYLER DRIVE COMMACK NY 11725 $155,781.00
600124263 ROBERTS,RONALD R 259 OAK DRIVE SOUTH GREEN COVE SPRI FL 32043 $108,006.24
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124245 KING,SR,GARY W 7.375 .250 7.125 .0500 7.075 10/01/2012
600124246 OWENS,JAMES DAVID 8.250 .250 8.000 .0500 7.950 10/01/2012
600124247 BAILIE,CHRISTOPHER D 8.000 .250 7.750 .0500 7.700 10/01/2012
600124248 COLEMAN,ROBERT T 7.750 .250 7.500 .0500 7.450 11/01/2012
600124249 MITCHELL,JACK 7.875 .250 7.625 .0500 7.575 11/01/2012
600124250 WRIGHT,ADAM 7.500 .250 7.250 .0500 7.200 10/01/2012
600124251 D'AGOSTINO,FRANK 8.000 .250 7.750 .0500 7.700 10/01/2012
600124252 ASHERIAN,NOOROLLAH 8.500 .250 8.250 .0500 8.200 10/01/2012
600124256 CHON,CHRIS HYON 7.750 .250 7.500 .0500 7.450 11/01/2012
600124257 KATA,VENKATESWARL C 8.125 .250 7.875 .0500 7.825 10/01/2012
600124258 CUCCIA,L. JAY 7.625 .250 7.375 .0500 7.325 11/01/2012
600124259 OWENS,JOHN RANDALL 7.500 .250 7.250 .0500 7.200 10/01/2012
600124260 PICCIOTTI,MICHAEL 7.375 .250 7.125 .0500 7.075 11/01/2012
600124263 ROBERTS,RONALD R 7.500 .250 7.250 .0500 7.200 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>
600124245 KING,SR,GARY W 1557924 $1,149.90 01/01/1998 180
600124246 OWENS,JAMES DAVID 1559709 $183.36 19 01/01/1998 180
600124247 BAILIE,CHRISTOPHER D 1562082 $703.36 01/01/1998 180
600124248 COLEMAN,ROBERT T 1580125 $1,422.27 01/01/1998 180
600124249 MITCHELL,JACK 1593180 $840.33 01/01/1998 180
600124250 WRIGHT,ADAM 1599703 $463.51 01/01/1998 180
600124251 D'AGOSTINO,FRANK 1599734 $1,665.22 2 01/01/1998 180
600124252 ASHERIAN,NOOROLLAH 1600431 $2,067.95 01/01/1998 180
600124256 CHON,CHRIS HYON 1601683 $1,101.29 01/01/1998 180
600124257 KATA,VENKATESWARL C 1612358 $914.74 01/01/1998 180
600124258 CUCCIA,L. JAY 1613607 $1,326.46 01/01/1998 180
600124259 OWENS,JOHN RANDALL 1614707 $312.87 2 01/01/1998 180
600124260 PICCIOTTI,MICHAEL 1615401 $1,444.28 01/01/1998 180
600124263 ROBERTS,RONALD R 1658172 $1,010.44 01/01/1998 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>
600124245 KING,SR,GARY W $645,000.00 N
600124246 OWENS,JAMES DAVID $21,000.00 N
600124247 BAILIE,CHRISTOPHER D $92,000.00 N
600124248 COLEMAN,ROBERT T $188,900.00 N
600124249 MITCHELL,JACK $122,000.00 N
600124250 WRIGHT,ADAM $175,000.00 N
600124251 D'AGOSTINO,FRANK $205,000.00 N
600124252 ASHERIAN,NOOROLLAH $425,000.00 N
600124256 CHON,CHRIS HYON $147,000.00 N
600124257 KATA,VENKATESWARL C $134,000.00 N
600124258 CUCCIA,L. JAY $242,000.00 N
600124259 OWENS,JOHN RANDALL $37,500.00 N
600124260 PICCIOTTI,MICHAEL $244,000.00 N
600124263 ROBERTS,RONALD R $220,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 39
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124264 SHEFFIELD,J. HOWARD 11429 DRAKEWOOD COURT JACKSONVILLE FL 32233 $115,297.15
600124265 MOLLIS,CHARLES A 18655 PARK RIDGE LANE HUNTINGTON BEAC CA 92648 $49,529.09
600124266 CRAIN,DAVID J 2117 MARJORY AVENUE TAMPA FL 33606 $113,854.78
600124267 CONTRERAS,ISMAEL 14915 WASHINGTON DRIVE FONTANA CA 92335 $59,655.88
600124268 SMITH,SUSAN M 717 N.W. 40TH TERRACE DEERFIELD BEACH FL 33442 $59,453.18
600124269 LE,HOA VAN 14208 MOCHO AVENUE NE ALBUQUERQUE NM 87123 $96,620.69
600124270 PETERS,GARY M 7309 FREEMONT PLACE NW ALBUQUERQUE NM 87121 $45,607.29
600124271 ANDERSON,STEVE 5121 TOLEDO DRIVE CORPUS CHRISTI TX 78414 $100,247.68
600124272 MENDIOLA,DENNIS P 1859 NORTHWEST 5TH AVENUE ONTARIO OR 97914 $72,751.62
600124273 GIANFORTE,ROY 6968 WEST ROSE GARDEN LAN GLENDALE AZ 85308 $94,161.75
600124274 HONG,CHETHA 5014 119TH AVENUE SOUTHEA BELLEVUE WA 98006 $170,397.50
600124275 YUI HO,HUEY CHU 12020-12022 TAMBOURINE DR STAFFORD TX 77477 $54,861.59
600124276 YUI HO,HUEY CHU 12016-12018 TAMBOURINE DR STAFFORD TX 77477 $54,861.59
600124277 MOMIN,MUMTAZ H 9406 BEECHNUT STREET HOUSTON TX 77036 $39,762.88
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124264 SHEFFIELD,J. HOWARD 7.500 .250 7.250 .0500 7.200 11/01/2012
600124265 MOLLIS,CHARLES A 7.125 .250 6.875 .0500 6.825 10/01/2012
600124266 CRAIN,DAVID J 7.625 .250 7.375 .0500 7.325 10/01/2012
600124267 CONTRERAS,ISMAEL 8.125 .250 7.875 .0500 7.825 11/01/2012
600124268 SMITH,SUSAN M 8.125 .250 7.875 .0500 7.825 10/01/2012
600124269 LE,HOA VAN 7.625 .250 7.375 .0500 7.325 10/01/2012
600124270 PETERS,GARY M 8.250 .250 8.000 .0500 7.950 10/01/2012
600124271 ANDERSON,STEVE 7.750 .250 7.500 .0500 7.450 10/01/2012
600124272 MENDIOLA,DENNIS P 7.375 .250 7.125 .0500 7.075 11/01/2012
600124273 GIANFORTE,ROY 7.875 .250 7.625 .0500 7.575 10/01/2012
600124274 HONG,CHETHA 7.250 .250 7.000 .0500 6.950 10/01/2012
600124275 YUI HO,HUEY CHU 7.875 .250 7.625 .0500 7.575 10/01/2012
600124276 YUI HO,HUEY CHU 7.875 .250 7.625 .0500 7.575 10/01/2012
600124277 MOMIN,MUMTAZ H 7.750 .250 7.500 .0500 7.450 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>
600124264 SHEFFIELD,J. HOWARD 1659030 $1,075.33 01/01/1998 180
600124265 MOLLIS,CHARLES A 1660272 $452.92 01/01/1998 180
600124266 CRAIN,DAVID J 1664423 $1,074.25 01/01/1998 180
600124267 CONTRERAS,ISMAEL 1677572 $577.73 01/01/1998 180
600124268 SMITH,SUSAN M 1701526 $577.73 01/01/1998 180
600124269 LE,HOA VAN 1702639 $910.78 01/01/1998 180
600124270 PETERS,GARY M 1702875 $446.26 01/01/1998 180
600124271 ANDERSON,STEVE 1724914 $952.10 01/01/1998 180
600124272 MENDIOLA,DENNIS P 1732845 $673.38 01/01/1998 180
600124273 GIANFORTE,ROY 1746450 $901.03 01/01/1998 180
600124274 HONG,CHETHA 1770934 $1,570.12 01/01/1998 180
600124275 YUI HO,HUEY CHU 1775827 $524.97 2 01/01/1998 180
600124276 YUI HO,HUEY CHU 1775855 $524.97 2 01/01/1998 180
600124277 MOMIN,MUMTAZ H 1776605 $376.51 01/01/1998 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>
600124264 SHEFFIELD,J. HOWARD $145,000.00 N
600124265 MOLLIS,CHARLES A $253,990.00 N
600124266 CRAIN,DAVID J $170,000.00 N
600124267 CONTRERAS,ISMAEL $100,000.00 N
600124268 SMITH,SUSAN M $145,000.00 N
600124269 LE,HOA VAN $130,000.00 N
600124270 PETERS,GARY M $100,000.00 N
600124271 ANDERSON,STEVE $134,900.00 N
600124272 MENDIOLA,DENNIS P $91,500.00 N
600124273 GIANFORTE,ROY $175,285.00 N
600124274 HONG,CHETHA $225,000.00 N
600124275 YUI HO,HUEY CHU $61,500.00 N
600124276 YUI HO,HUEY CHU $62,500.00 N
600124277 MOMIN,MUMTAZ H $50,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 40
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124278 SHOJAI,FARIBORZ 11403 BRIAR ROSE DRIVE HOUSTON TX 77077 $99,623.17
600124279 GOODWIN,G. EDWARD 3639 COLTWOOD DRIVE SPRING TX 77388 $95,405.51
600124280 SO,JAE CHONG 18427 SNOWWOOD DRIVE SPRING TX 77388 $130,422.01
600124281 SCHNEIDER,C. MICHAEL 15234 YORKPOINT DRIVE HOUSTON TX 77084 $64,000.00
600124282 SCHNEIDER,C MICHAEL 5503 CANYON FOREST DRIVE HOUSTON TX 77088 $55,200.00
600124283 WALSH,DENIS P 4 CIRCLE DRIVE HAMBURG NJ 07419 $35,000.00
600124284 PRINCE,STEPHEN 55 EMERSON PLACE WAYNE NJ 07470 $208,741.43
600124285 KAMDAR,VIJAY 199-15 34TH AVENUE FLUSHING NY 11358 $94,558.54
600124286 FORSYTHE,STACY A 1094 LAKEWOOD PLACE PITTSGROVE TOWN NJ 08318 $127,257.73
600124287 PATEL,NARENDRA B 174-27 GLADWIN AVENUE FRESH MEADOWS NY 11365 $197,384.62
600124288 SHAHANI,SHANTA 123 GROVE STREET ROSELLE PARK NJ 07204 $115,944.85
600124289 WATRAKIEWICZ,ZBIGNIEW G 250 SKI HILL RD. UNIT 53- BRECKENRIDGE CO 80424 $91,638.17
600124290 CHU CHUNG,PETER YI 14798 CALLE OTONO CHINO HILLS CA 91709 $134,500.00
600124291 AULT,MARK T 42065 VIA BESO DEL SOL TEMECULA CA 92591 $121,308.11
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124278 SHOJAI,FARIBORZ 7.250 .250 7.000 .0500 6.950 10/01/2012
600124279 GOODWIN,G. EDWARD 7.250 .250 7.000 .0500 6.950 11/01/2012
600124280 SO,JAE CHONG 8.000 .250 7.750 .0500 7.700 12/01/2012
600124281 SCHNEIDER,C. MICHAEL 6.875 .250 6.625 .0500 6.575 01/01/2013
600124282 SCHNEIDER,C MICHAEL 6.875 .250 6.625 .0500 6.575 01/01/2013
600124283 WALSH,DENIS P 7.750 .250 7.500 .0500 7.450 01/01/2013
600124284 PRINCE,STEPHEN 7.625 .250 7.375 .0500 7.325 11/01/2012
600124285 KAMDAR,VIJAY 7.750 .250 7.500 .0500 7.450 11/01/2012
600124286 FORSYTHE,STACY A 8.000 .250 7.750 .0500 7.700 11/01/2012
600124287 PATEL,NARENDRA B 7.500 .250 7.250 .0500 7.200 11/01/2012
600124288 SHAHANI,SHANTA 7.625 .250 7.375 .0500 7.325 10/01/2012
600124289 WATRAKIEWICZ,ZBIGNIEW G 7.250 .250 7.000 .0500 6.950 10/01/2012
600124290 CHU CHUNG,PETER YI 7.500 .250 7.250 .0500 7.200 01/01/2013
600124291 AULT,MARK T 7.750 .250 7.500 .0500 7.450 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>
600124278 SHOJAI,FARIBORZ 1791154 $920.17 01/01/1998 180
600124279 GOODWIN,G. EDWARD 1791507 $876.35 01/01/1998 180
600124280 SO,JAE CHONG 1791615 $1,249.99 01/01/1998 180
600124281 SCHNEIDER,C. MICHAEL 1792824 $570.79 01/01/1998 180
600124282 SCHNEIDER,C MICHAEL 1792834 $492.30 01/01/1998 180
600124283 WALSH,DENIS P 1797559 $329.45 01/01/1998 180
600124284 PRINCE,STEPHEN 1797655 $1,961.67 01/01/1998 180
600124285 KAMDAR,VIJAY 1797720 $995.40 01/01/1998 180
600124286 FORSYTHE,STACY A 1797997 $1,223.23 01/01/1998 180
600124287 PATEL,NARENDRA B 1798898 $1,854.02 01/01/1998 180
600124288 SHAHANI,SHANTA 1798908 $1,092.93 01/01/1998 180
600124289 WATRAKIEWICZ,ZBIGNIEW G 1813840 $844.40 01/01/1998 180
600124290 CHU CHUNG,PETER YI 1822839 $1,246.83 01/01/1998 180
600124291 AULT,MARK T 1822998 $1,152.12 01/01/1998 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>
600124278 SHOJAI,FARIBORZ $126,000.00 N
600124279 GOODWIN,G. EDWARD $120,000.00 N
600124280 SO,JAE CHONG $163,500.00 N
600124281 SCHNEIDER,C. MICHAEL $80,000.00 N
600124282 SCHNEIDER,C MICHAEL $69,000.00 N
600124283 WALSH,DENIS P $125,000.00 N
600124284 PRINCE,STEPHEN $280,000.00 N
600124285 KAMDAR,VIJAY $141,000.00 N
600124286 FORSYTHE,STACY A $170,000.00 N
600124287 PATEL,NARENDRA B $315,000.00 N
600124288 SHAHANI,SHANTA $156,000.00 N
600124289 WATRAKIEWICZ,ZBIGNIEW G $185,000.00 N
600124290 CHU CHUNG,PETER YI $179,457.00 N
600124291 AULT,MARK T $153,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 41
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124292 MURPHY,ROBERT B 480 LONG STREET ASHVILLE OH 43103 $69,580.59
600124293 SMITH,DAVID R 8885 MORLEY PLACE MAINEVILLE OH 45039 $101,059.92
600124294 DESROSIERS,JOHN W 4727 HUNTING CREEK DRIVE GROVE CITY OH 43123 $59,470.58
600124295 FITZER,RICHARD C 1833 DORSETSHIRE ROAD COLUMBUS OH 43229 $110,077.90
600124296 CLAYBORNE,WILLIAM R 408 LAUREL COLUMBIA MO 65203 $77,517.51
600124297 SCHULZE,E. GENE 4131 WHITE WATER ST. CHARLES MO 63304 $98,286.19
600124298 MURRAY,HARRY M 8610 BIG BEND BOULEVARD ST. LOUIS MO 63119 $44,607.27
600124299 CIVELLO,JAMES P 1315 RACHEL LANE DOWNINGTOWN PA 19335 $138,269.09
600124300 WATERS,CHARLES 833 GREYSON RD. ROCKY MOUNT NC 27804 $70,493.42
600124301 LUPO,JOHN A 20 PINE CIRCLE FLAGSTAFF AZ 86001 $70,400.00
600124302 DONALDSON,ROBERT D 731 EAST BROADWAY CUSHING OK 74023 $46,391.54
600124303 ALLEN,MARK J 2304 TALL OAKS TRAIL EDMOND OK 73003 $176,907.66
600124304 PHAM,THI QUANG 100 TRAVILAH OAKS LANE RALEIGH NC 27606 $146,694.37
600124305 NEWBOLD,ADELINE L 39 DELANO PARK CAPE ELIZABETH ME 04107 $166,020.86
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124292 MURPHY,ROBERT B 7.875 .250 7.625 .0500 7.575 10/01/2012
600124293 SMITH,DAVID R 7.375 .250 7.125 .0500 7.075 10/01/2012
600124294 DESROSIERS,JOHN W 7.875 .250 7.625 .0500 7.575 10/01/2012
600124295 FITZER,RICHARD C 6.875 .250 6.625 .0500 6.575 10/01/2012
600124296 CLAYBORNE,WILLIAM R 8.000 .250 7.750 .0500 7.700 10/01/2012
600124297 SCHULZE,E. GENE 8.000 .250 7.750 .0500 7.700 10/01/2012
600124298 MURRAY,HARRY M 8.000 .250 7.750 .0500 7.700 10/01/2012
600124299 CIVELLO,JAMES P 7.875 .250 7.625 .0500 7.575 10/01/2012
600124300 WATERS,CHARLES 7.875 .250 7.625 .0500 7.575 12/01/2012
600124301 LUPO,JOHN A 7.500 .250 7.250 .0500 7.200 01/01/2013
600124302 DONALDSON,ROBERT D 8.000 .250 7.750 .0500 7.700 10/01/2012
600124303 ALLEN,MARK J 7.750 .250 7.500 .0500 7.450 11/01/2012
600124304 PHAM,THI QUANG 8.000 .250 7.750 .0500 7.700 11/01/2012
600124305 NEWBOLD,ADELINE L 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>
600124292 MURPHY,ROBERT B 1827369 $665.81 19 01/01/1998 180
600124293 SMITH,DAVID R 1827433 $938.32 19 01/01/1998 180
600124294 DESROSIERS,JOHN W 1827635 $569.07 01/01/1998 180
600124295 FITZER,RICHARD C 1828028 $993.08 19 01/01/1998 180
600124296 CLAYBORNE,WILLIAM R 1831458 $747.32 7 01/01/1998 180
600124297 SCHULZE,E. GENE 1832197 $948.01 01/01/1998 180
600124298 MURRAY,HARRY M 1833411 $430.04 01/01/1998 180
600124299 CIVELLO,JAMES P 1847866 $1,323.09 19 01/01/1998 180
600124300 WATERS,CHARLES 1849366 $670.55 01/01/1998 180
600124301 LUPO,JOHN A 1849833 $652.62 01/01/1998 180
600124302 DONALDSON,ROBERT D 1857965 $447.25 2 01/01/1998 180
600124303 ALLEN,MARK J 1859677 $1,680.18 2 01/01/1998 180
600124304 PHAM,THI QUANG 1860873 $1,410.06 01/01/1998 180
600124305 NEWBOLD,ADELINE L 1864638 $1,583.91 01/01/1998 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>
600124292 MURPHY,ROBERT B $78,000.00 N
600124293 SMITH,DAVID R $120,000.00 N
600124294 DESROSIERS,JOHN W $224,000.00 N
600124295 FITZER,RICHARD C $131,000.00 N
600124296 CLAYBORNE,WILLIAM R $92,000.00 N
600124297 SCHULZE,E. GENE $124,000.00 N
600124298 MURRAY,HARRY M $82,000.00 N
600124299 CIVELLO,JAMES P $155,000.00 N
600124300 WATERS,CHARLES $101,000.00 N
600124301 LUPO,JOHN A $88,000.00 N
600124302 DONALDSON,ROBERT D $52,000.00 N
600124303 ALLEN,MARK J $210,000.00 N
600124304 PHAM,THI QUANG $204,000.00 N
600124305 NEWBOLD,ADELINE L $312,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 42
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124306 CURD,CHESTER R 13332 KERRY STREET GARDEN GROVE CA 92644 $117,735.09
600124307 MCCRONE,KIM L 6238 SOUTH WATLING WAY MADISON OH 44068 $102,110.05
600124308 HOMOTOFF,STEPHEN D 20217 SERRANO ROAD #1,2,3 APPLE VALLEY CA 92307 $63,750.00
600124309 DUGGINS,JAMES 2725 LA BRUCHERIE ROAD IMPERIAL CA 92251 $29,743.75
600124310 YAHIAYAN,GEORGE 7000 MATILIJA AVENUE VAN NUYS CA 91405 $59,397.48
600124311 IMANIL,JESSIE F 11743 WINDCREST LANE SAN DIEGO CA 92128 $188,836.15
600124312 ROBERTSON,DENISE M 9388 HIGHLAND AVENUE RANCHO CUCAMONG CA 91701 $137,591.25
600124313 SHTAYYEH,OSAMAH R 2717 KATHLEEN STREET RIVERSIDE CA 92506 $68,787.00
600124314 CHISHOLM,MARY KAREN 1429 NORTHSTAR LANE UPLAND CA 91784 $100,000.00
600124315 STOCKWELL,WILLIAM P 7324 26TH AVENUE SOUTHWES SEATTLE WA 98106 $59,644.32
600124316 MILLER,THOMAS L 1330 EAST WATER STREET TUCSON AZ 85719 $56,761.51
600124317 CURTIS,JEANIE K 645 SOUTH TENTH AVENUE POCATELLO ID 83201 $37,874.14
600124318 LARSEN,JOHN W 22903 46TH AVENUE EAST SPANAWAY WA 98387 $36,152.52
600124319 DINOFRIO,III,ARMAND J 18 NOTTINGHAM DRIVE SCITUATE RI 02831 $114,117.64
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124306 CURD,CHESTER R 7.750 .250 7.500 .0500 7.450 11/01/2012
600124307 MCCRONE,KIM L 8.625 .250 8.375 .0500 8.325 11/01/2012
600124308 HOMOTOFF,STEPHEN D 8.250 .250 8.000 .0500 7.950 01/01/2013
600124309 DUGGINS,JAMES 7.750 .250 7.500 .0500 7.450 12/01/2012
600124310 YAHIAYAN,GEORGE 7.375 .250 7.125 .0500 7.075 10/01/2012
600124311 IMANIL,JESSIE F 7.375 .250 7.125 .0500 7.075 11/01/2012
600124312 ROBERTSON,DENISE M 7.750 .250 7.500 .0500 7.450 12/01/2012
600124313 SHTAYYEH,OSAMAH R 7.250 .250 7.000 .0500 6.950 12/01/2012
600124314 CHISHOLM,MARY KAREN 6.625 .250 6.375 .0500 6.325 01/01/2013
600124315 STOCKWELL,WILLIAM P 7.750 .250 7.500 .0500 7.450 11/01/2012
600124316 MILLER,THOMAS L 7.750 .250 7.500 .0500 7.450 11/01/2012
600124317 CURTIS,JEANIE K 7.750 .250 7.500 .0500 7.450 11/01/2012
600124318 LARSEN,JOHN W 7.000 .250 6.750 .0500 6.700 10/01/2012
600124319 DINOFRIO,III,ARMAND J 7.750 .250 7.500 .0500 7.450 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>
600124306 CURD,CHESTER R 2103766 $1,116.35 01/01/1998 180
600124307 MCCRONE,KIM L 2115924 $1,022.61 19 01/01/1998 180
600124308 HOMOTOFF,STEPHEN D 2118362 $618.46 01/01/1998 180
600124309 DUGGINS,JAMES 2118648 $282.38 01/01/1998 180
600124310 YAHIAYAN,GEORGE 2137322 $551.49 01/01/1998 180
600124311 IMANIL,JESSIE F 2143021 $1,747.85 01/01/1998 180
600124312 ROBERTSON,DENISE M 2143230 $1,298.96 01/01/1998 180
600124313 SHTAYYEH,OSAMAH R 2143665 $629.88 01/01/1998 180
600124314 CHISHOLM,MARY KAREN 2145228 $877.99 01/01/1998 180
600124315 STOCKWELL,WILLIAM P 2151539 $564.77 01/01/1998 180
600124316 MILLER,THOMAS L 2151993 $537.47 01/01/1998 180
600124317 CURTIS,JEANIE K 2158575 $358.63 01/01/1998 180
600124318 LARSEN,JOHN W 2160833 $328.07 01/01/1998 180
600124319 DINOFRIO,III,ARMAND J 2165168 $1,082.47 01/01/1998 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>
600124306 CURD,CHESTER R $173,000.00 N
600124307 MCCRONE,KIM L $115,000.00 N
600124308 HOMOTOFF,STEPHEN D $95,000.00 N
600124309 DUGGINS,JAMES $105,000.00 N
600124310 YAHIAYAN,GEORGE $123,000.00 N
600124311 IMANIL,JESSIE F $295,000.00 N
600124312 ROBERTSON,DENISE M $228,000.00 N
600124313 SHTAYYEH,OSAMAH R $123,000.00 N
600124314 CHISHOLM,MARY KAREN $227,000.00 N
600124315 STOCKWELL,WILLIAM P $115,000.00 N
600124316 MILLER,THOMAS L $99,000.00 N
600124317 CURTIS,JEANIE K $64,300.00 N
600124318 LARSEN,JOHN W $98,000.00 N
600124319 DINOFRIO,III,ARMAND J $226,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 43
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124320 SMITH,DAVID N 3703 VAN NESS LANE DALLAS TX 75209 $47,516.88
600124321 FAZIO,FRANCES 208 QUAIL LANE SOUTH LACEY TOWNSHIP NJ 08734 $158,572.70
600124322 YANG,MING Q 1117 CHARLES DR DOVER DE 19901 $45,920.07
600124323 PRIEST,ARNOLD E 2610 MARLBOROUGH DRIVE SAN ANTONIO TX 78230 $116,443.36
600124324 RIVERA,FRED 222 AVENUE B CONVERSE TX 78109 $29,025.00
600124325 GREENBERG,ALAN 479 GUY LOMBARDO AVENUE FREEPORT NY 11520 $185,781.52
600124326 CHILDERS,JEAN CLAIRE 4432 COUNTRYWOOD DRIVE SANTA MARIA CA 93455 $159,511.45
600124327 SROUFE,GERALD B 172 WEST ADAMS STREET CANNON BEACH OR 97110 $99,387.45
600124328 STINNETT,GARY I 3658 NE 113TH AVENUE PORTLAND OR 97220 $102,773.53
600124329 DAUGHERTY,WILLIAM J 111 HILLSIDE DRIVE HENDERSONVILLE TN 37075 $75,291.90
600124330 WOOD,JAMES LESLIE 7570 PEWITT ROAD FRANKLIN TN 37064 $125,173.33
600124331 HIGGINS,CHARLES T 1032 SUNSET DRIVE SIGNAL MOUNTAIN TN 37377 $75,606.81
600124332 MCCLUNG,WOODIE RT 1 CLAUDE TX 79019 $132,302.29
600124333 THOMAS,JAMES D RT 4 BOX 53 AMARILLO TX 79119 $99,687.92
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124320 SMITH,DAVID N 8.250 .250 8.000 .0500 7.950 11/01/2012
600124321 FAZIO,FRANCES 7.750 .250 7.500 .0500 7.450 10/01/2012
600124322 YANG,MING Q 7.500 .250 7.250 .0500 7.200 11/01/2012
600124323 PRIEST,ARNOLD E 7.375 .250 7.125 .0500 7.075 12/01/2012
600124324 RIVERA,FRED 7.625 .250 7.375 .0500 7.325 01/01/2013
600124325 GREENBERG,ALAN 6.750 .250 6.500 .0500 6.450 11/01/2012
600124326 CHILDERS,JEAN CLAIRE 7.375 .250 7.125 .0500 7.075 12/01/2012
600124327 SROUFE,GERALD B 7.375 .250 7.125 .0500 7.075 11/01/2012
600124328 STINNETT,GARY I 7.750 .250 7.500 .0500 7.450 10/01/2012
600124329 DAUGHERTY,WILLIAM J 7.250 .250 7.000 .0500 6.950 10/01/2012
600124330 WOOD,JAMES LESLIE 7.750 .250 7.500 .0500 7.450 10/01/2012
600124331 HIGGINS,CHARLES T 8.500 .250 8.250 .0500 8.200 10/01/2012
600124332 MCCLUNG,WOODIE 7.625 .250 7.375 .0500 7.325 11/01/2012
600124333 THOMAS,JAMES D 7.125 .250 6.875 .0500 6.825 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124320 SMITH,DAVID N 2170611 $463.63 7 01/01/1998 180
600124321 FAZIO,FRANCES 2170717 $1,506.04 01/01/1998 180
600124322 YANG,MING Q 2171939 $428.28 01/01/1998 180
600124323 PRIEST,ARNOLD E 2178550 $1,074.47 01/01/1998 180
600124324 RIVERA,FRED 2178700 $271.13 2 01/01/1998 180
600124325 GREENBERG,ALAN 2186296 $1,663.63 01/01/1998 180
600124326 CHILDERS,JEAN CLAIRE 2198492 $1,471.88 01/01/1998 180
600124327 SROUFE,GERALD B 2205503 $919.92 01/01/1998 180
600124328 STINNETT,GARY I 2206027 $978.93 01/01/1998 180
600124329 DAUGHERTY,WILLIAM J 2207096 $693.78 01/01/1998 180
600124330 WOOD,JAMES LESLIE 2207985 $1,188.83 01/01/1998 180
600124331 HIGGINS,CHARLES T 2208112 $752.34 01/01/1998 180
600124332 MCCLUNG,WOODIE 2287514 $1,243.33 01/01/1998 180
600124333 THOMAS,JAMES D 2288028 $905.83 01/01/1998 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>
600124320 SMITH,DAVID N $53,100.00 N
600124321 FAZIO,FRANCES $218,000.00 N
600124322 YANG,MING Q $115,000.00 N
600124323 PRIEST,ARNOLD E $146,000.00 N
600124324 RIVERA,FRED $32,250.00 N
600124325 GREENBERG,ALAN $250,000.00 N
600124326 CHILDERS,JEAN CLAIRE $234,000.00 N
600124327 SROUFE,GERALD B $330,000.00 N
600124328 STINNETT,GARY I $144,000.00 N
600124329 DAUGHERTY,WILLIAM J $101,000.00 N
600124330 WOOD,JAMES LESLIE $171,000.00 N
600124331 HIGGINS,CHARLES T $141,000.00 N
600124332 MCCLUNG,WOODIE $166,400.00 N
600124333 THOMAS,JAMES D $125,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 44
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124334 TANNER,WILLIAM H 1953 S EMERSON AVENUE INDIANAPOLIS IN 46203 $38,134.48
600124335 TANNER,WILLIAM H 1747 S IRVINGTON AVENUE INDIANAPOLIS IN 46203 $47,855.03
600124336 HALL,DIANA M 450 E HANNA INDIANAPOLIS IN 46227 $52,000.00
600124337 WOLFLEY,L.D. 2182 ELMORE STREET POCATELLO ID 83201 $104,049.80
600124338 RITCHIE,VERNON L 835 DAVIDSON DRIVE IDAHO FALLS ID 83401 $54,379.29
600124339 NAEFKE,KATHLEEN K 2307 TERRITORIAL ROAD ST. PAUL MN 55114 $61,674.03
600124340 GILMORE,JOAN M 400 GROVELAND AVENUE #312 MINNEAPOLIS MN 55403 $35,733.24
600124341 HAWKINSON,LELAND R 10051 SYCAMORE ST NW COON RAPIDS MN 55433 $64,134.14
600124342 THEARD,NELVILLE LEO 4804-06 CLEVELAND AVENUE NEW ORLEANS LA 70119 $64,000.00
600124343 CARTER,III,HARRIS V 119 SCOTT STREET MT. PLEASANT SC 29464 $68,670.23
600124344 MENDIETA,FELIX R 230 RACKLEY LANE EASLEY SC 29642 $147,122.22
600124345 DJIE,JENNIFER 8432 VIA SONOMA, #55 LA JOLLA AREA CA 92037 $133,795.73
600124346 HALL,PAUL K 818 ALLEGRE CIRCLE CORONA CA 91719 $169,688.69
600124347 STOUFER,III,FRANK M 1245 NORTH POTOMAC CIRCLE ANAHEIM CA 92807 $133,405.37
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124334 TANNER,WILLIAM H 7.500 .250 7.250 .0500 7.200 12/01/2012
600124335 TANNER,WILLIAM H 7.500 .250 7.250 .0500 7.200 12/01/2012
600124336 HALL,DIANA M 7.375 .250 7.125 .0500 7.075 01/01/2013
600124337 WOLFLEY,L.D. 7.250 .250 7.000 .0500 6.950 11/01/2012
600124338 RITCHIE,VERNON L 7.875 .250 7.625 .0500 7.575 11/01/2012
600124339 NAEFKE,KATHLEEN K 7.500 .250 7.250 .0500 7.200 11/01/2012
600124340 GILMORE,JOAN M 7.750 .250 7.500 .0500 7.450 12/01/2012
600124341 HAWKINSON,LELAND R 8.250 .250 8.000 .0500 7.950 11/01/2012
600124342 THEARD,NELVILLE LEO 8.000 .250 7.750 .0500 7.700 01/01/2013
600124343 CARTER,III,HARRIS V 7.500 .250 7.250 .0500 7.200 11/01/2012
600124344 MENDIETA,FELIX R 7.750 .250 7.500 .0500 7.450 11/01/2012
600124345 DJIE,JENNIFER 7.750 .250 7.500 .0500 7.450 10/01/2012
600124346 HALL,PAUL K 7.500 .250 7.250 .0500 7.200 10/01/2012
600124347 STOUFER,III,FRANK M 7.750 .250 7.500 .0500 7.450 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>
600124334 TANNER,WILLIAM H 2288691 $354.58 01/01/1998 180
600124335 TANNER,WILLIAM H 2288700 $444.97 01/01/1998 180
600124336 HALL,DIANA M 2288997 $478.36 01/01/1998 180
600124337 WOLFLEY,L.D. 2289660 $957.59 01/01/1998 180
600124338 RITCHIE,VERNON L 2290529 $518.80 01/01/1998 180
600124339 NAEFKE,KATHLEEN K 2292141 $575.21 7 01/01/1998 180
600124340 GILMORE,JOAN M 2293010 $338.86 01/01/1998 180
600124341 HAWKINSON,LELAND R 2293831 $625.74 01/01/1998 180
600124342 THEARD,NELVILLE LEO 2299882 $611.62 01/01/1998 180
600124343 CARTER,III,HARRIS V 2301877 $648.91 01/01/1998 180
600124344 MENDIETA,FELIX R 2302184 $1,393.09 01/01/1998 180
600124345 DJIE,JENNIFER 2303080 $1,270.72 7 01/01/1998 180
600124346 HALL,PAUL K 2303935 $1,587.51 01/01/1998 180
600124347 STOUFER,III,FRANK M 2304328 $1,270.72 01/01/1998 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>
600124334 TANNER,WILLIAM H $51,000.00 N
600124335 TANNER,WILLIAM H $64,000.00 N
600124336 HALL,DIANA M $65,000.00 N
600124337 WOLFLEY,L.D. $178,200.00 N
600124338 RITCHIE,VERNON L $71,000.00 N
600124339 NAEFKE,KATHLEEN K $73,000.00 N
600124340 GILMORE,JOAN M $66,000.00 N
600124341 HAWKINSON,LELAND R $86,000.00 N
600124342 THEARD,NELVILLE LEO $80,000.00 N
600124343 CARTER,III,HARRIS V $100,000.00 N
600124344 MENDIETA,FELIX R $185,000.00 N
600124345 DJIE,JENNIFER $150,000.00 N
600124346 HALL,PAUL K $214,090.00 N
600124347 STOUFER,III,FRANK M $180,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 45
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124348 ROTHER,RICHARD J 9542 LAGERSFIELD CIRCLE VIENNA VA 22181 $187,282.75
600124349 PARKER,CHRISTOPHER D 1222 OAKVIEW ROAD DECATUR GA 30030 $37,158.11
600124350 PRICE,JR,WILLIAM E 130 TRAMORE TRACE TYRONE GA 30290 $142,789.07
600124351 FREEMAN,RICHARD 1000 EAST BOBE STREET PENSACOLA FL 32503 $96,889.63
600124352 MACHACON,SR,DONALDO E 19036 BOB-O-LINK DRIVE HIALEAH FL 33015 $49,699.40
600124353 ESTRADA,CESAR O 12718 N.W. 11TH PLACE SUNRISE FL 33323 $89,712.96
600124354 BISELI,RICHARD 5 ISLAND DRIVE TREASURE ISLAND FL 33706 $158,476.76
600124355 MCKENZIE,SYLVIA W 895 GULFVIEW BLVD SOUTH # CLEARWATER BEAC FL 33767 $64,432.72
600124356 VAN BUI,TONY KHANH 4502 PEACOCK COURT DUBLIN CA 94568 $202,363.38
600124357 BAILEY JR,JACOB E 238 GOUGHES BRANCH LEICESTER NC 28748 $116,853.44
600124358 GARCIA,JOHN B 169 UPPER FLAT CREEK ROAD WEAVERVILLE NC 28787 $91,951.67
600124359 WARTHAM,MARK S 7830-A DA VINCI LANE CHARLOTTE NC 28226 $39,131.51
600124360 VAN ACKEREN,MAURICE C 6 MOUNTAIN PINE DRIVE LITTLETON CO 80127 $143,649.05
600124361 CATE,THOMAS W 321 GREENWOOD DRIVE LOVELAND CO 80537 $114,303.21
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124348 ROTHER,RICHARD J 7.875 .250 7.625 .0500 7.575 10/01/2012
600124349 PARKER,CHRISTOPHER D 7.500 .250 7.250 .0500 7.200 10/01/2012
600124350 PRICE,JR,WILLIAM E 7.625 .250 7.375 .0500 7.325 11/01/2012
600124351 FREEMAN,RICHARD 7.125 .250 6.875 .0500 6.825 11/01/2012
600124352 MACHACON,SR,DONALDO E 7.625 .250 7.375 .0500 7.325 11/01/2012
600124353 ESTRADA,CESAR O 6.875 .250 6.625 .0500 6.575 12/01/2012
600124354 BISELI,RICHARD 7.000 .250 6.750 .0500 6.700 10/01/2012
600124355 MCKENZIE,SYLVIA W 8.000 .250 7.750 .0500 7.700 10/01/2012
600124356 VAN BUI,TONY KHANH 7.250 .250 7.000 .0500 6.950 12/01/2012
600124357 BAILEY JR,JACOB E 7.750 .250 7.500 .0500 7.450 12/01/2012
600124358 GARCIA,JOHN B 7.750 .250 7.500 .0500 7.450 11/01/2012
600124359 WARTHAM,MARK S 8.000 .250 7.750 .0500 7.700 11/01/2012
600124360 VAN ACKEREN,MAURICE C 7.250 .250 7.000 .0500 6.950 10/01/2012
600124361 CATE,THOMAS W 7.500 .250 7.250 .0500 7.200 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>
600124348 ROTHER,RICHARD J 2306392 $1,792.10 01/01/1998 180
600124349 PARKER,CHRISTOPHER D 2307279 $347.63 01/01/1998 180
600124350 PRICE,JR,WILLIAM E 2308942 $1,341.88 19 01/01/1998 180
600124351 FREEMAN,RICHARD 2326342 $883.19 01/01/1998 180
600124352 MACHACON,SR,DONALDO E 2326589 $467.06 01/01/1998 180
600124353 ESTRADA,CESAR O 2327586 $802.67 01/01/1998 180
600124354 BISELI,RICHARD 2329514 $1,438.13 01/01/1998 180
600124355 MCKENZIE,SYLVIA W 2329564 $621.17 01/01/1998 180
600124356 VAN BUI,TONY KHANH 2343908 $1,853.02 01/01/1998 180
600124357 BAILEY JR,JACOB E 2349186 $1,104.12 01/01/1998 180
600124358 GARCIA,JOHN B 2349791 $870.68 01/01/1998 180
600124359 WARTHAM,MARK S 2349961 $376.29 01/01/1998 180
600124360 VAN ACKEREN,MAURICE C 2352027 $1,323.65 01/01/1998 180
600124361 CATE,THOMAS W 2352376 $1,066.06 01/01/1998 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>
600124348 ROTHER,RICHARD J $269,990.00 N
600124349 PARKER,CHRISTOPHER D $50,000.00 N
600124350 PRICE,JR,WILLIAM E $169,000.00 N
600124351 FREEMAN,RICHARD $130,000.00 N
600124352 MACHACON,SR,DONALDO E $90,000.00 N
600124353 ESTRADA,CESAR O $142,000.00 N
600124354 BISELI,RICHARD $290,000.00 N
600124355 MCKENZIE,SYLVIA W $125,000.00 N
600124356 VAN BUI,TONY KHANH $324,773.00 N
600124357 BAILEY JR,JACOB E $156,500.00 N
600124358 GARCIA,JOHN B $131,000.00 N
600124359 WARTHAM,MARK S $52,500.00 N
600124360 VAN ACKEREN,MAURICE C $317,000.00 N
600124361 CATE,THOMAS W $225,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 46
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124362 MARY,MICHAEL A 434 MCCLANE FARM ROAD WASHINGTON PA 15301 $65,391.71
600124363 ROSA,JR,JOHN L 116 WESTFIELD DRIVE ALIQUIPPA PA 15001 $82,936.91
600124364 HALPERN,JEROME T 191 WEST HUTCHINSON AVENU PITTSBURGH PA 15218 $129,262.01
600124365 MCCANN,ROBERT CHARLES 909 EAST FAIRMONT AVENUE NEW CASTLE PA 16105 $102,565.25
600124366 KEMPER,JAMES A 244 ROYCROFT AVE PITTSBURGH PA 15234 $102,240.32
600124367 KURTA,JOHN M 1401 MAPLE AVENUE TURTLE CREEK PA 15145 $41,013.42
600124368 ZBOROVANCIK,GREGORY J RD #2 BOX 335F FAYETTE CITY PA 15438 $114,303.44
600124369 MCCORMICK,MICHAEL J 73 LEECH ROAD GREENVILLE PA 16125 $56,950.00
600124370 BRATTON,WILLIAM J 5014 SHERWOOD ROAD BETHEL PARK PA 15102 $76,019.84
600124371 TUNNO,EUGENE P 3405 COLLEGE AVENUE BEAVER FALLS PA 15010 $63,724.17
600124373 MARTINEZ,FELIPE P 25 EVERGREEN ROAD QUESTA NM 87556 $99,652.14
600124374 TUPPER,MONICA M LOT B-1 ROUND BARN FARM FERRISBURGH VT 05456 $84,456.25
600124375 CHURCHILL,PETER S ELMORE MOUNTAIN ROAD ELMORE VT 05657 $75,074.25
600124376 VIEIRA,NEAL C 92 SALEM ST PORTLAND ME 04102 $97,419.07
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124362 MARY,MICHAEL A 7.375 .250 7.125 .0500 7.075 10/01/2012
600124363 ROSA,JR,JOHN L 7.500 .250 7.250 .0500 7.200 10/01/2012
600124364 HALPERN,JEROME T 7.500 .250 7.250 .0500 7.200 11/01/2012
600124365 MCCANN,ROBERT CHARLES 8.000 .250 7.750 .0500 7.700 11/01/2012
600124366 KEMPER,JAMES A 7.750 .250 7.500 .0500 7.450 11/01/2012
600124367 KURTA,JOHN M 8.125 .250 7.875 .0500 7.825 11/01/2012
600124368 ZBOROVANCIK,GREGORY J 7.500 .250 7.250 .0500 7.200 12/01/2012
600124369 MCCORMICK,MICHAEL J 7.500 .250 7.250 .0500 7.200 02/01/2013
600124370 BRATTON,WILLIAM J 8.000 .250 7.750 .0500 7.700 11/01/2012
600124371 TUNNO,EUGENE P 7.875 .250 7.625 .0500 7.575 11/01/2012
600124373 MARTINEZ,FELIPE P 8.250 .250 8.000 .0500 7.950 12/01/2012
600124374 TUPPER,MONICA M 6.875 .250 6.625 .0500 6.575 11/01/2012
600124375 CHURCHILL,PETER S 7.750 .250 7.500 .0500 7.450 10/01/2012
600124376 VIEIRA,NEAL C 7.750 .250 7.500 .0500 7.450 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>
600124362 MARY,MICHAEL A 2352897 $607.15 2 01/01/1998 180
600124363 ROSA,JR,JOHN L 2352923 $775.91 2 01/01/1998 180
600124364 HALPERN,JEROME T 2353003 $1,205.58 2 01/01/1998 180
600124365 MCCANN,ROBERT CHARLES 2353011 $986.23 01/01/1998 180
600124366 KEMPER,JAMES A 2354347 $968.10 2 01/01/1998 180
600124367 KURTA,JOHN M 2354434 $397.19 01/01/1998 180
600124368 ZBOROVANCIK,GREGORY J 2354497 $1,063.75 2 01/01/1998 180
600124369 MCCORMICK,MICHAEL J 2354530 $527.93 2 02/01/1998 180
600124370 BRATTON,WILLIAM J 2354973 $731.07 2 01/01/1998 180
600124371 TUNNO,EUGENE P 2355003 $607.96 2 01/01/1998 180
600124373 MARTINEZ,FELIPE P 2367539 $970.14 01/01/1998 180
600124374 TUPPER,MONICA M 2372219 $758.08 01/01/1998 180
600124375 CHURCHILL,PETER S 2373740 $713.02 01/01/1998 180
600124376 VIEIRA,NEAL C 2374275 $922.45 01/01/1998 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>
600124362 MARY,MICHAEL A $80,000.00 N
600124363 ROSA,JR,JOHN L $93,000.00 N
600124364 HALPERN,JEROME T $153,000.00 N
600124365 MCCANN,ROBERT CHARLES $129,000.00 N
600124366 KEMPER,JAMES A $121,000.00 N
600124367 KURTA,JOHN M $55,000.00 N
600124368 ZBOROVANCIK,GREGORY J $135,000.00 N
600124369 MCCORMICK,MICHAEL J $67,000.00 N
600124370 BRATTON,WILLIAM J $90,000.00 N
600124371 TUNNO,EUGENE P $75,500.00 N
600124373 MARTINEZ,FELIPE P $125,000.00 N
600124374 TUPPER,MONICA M $136,500.00 N
600124375 CHURCHILL,PETER S $101,000.00 N
600124376 VIEIRA,NEAL C $151,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 47
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124377 CIRRINCIONE,LELA 1215 WILLIAM DRIVE LAKE ZURICH IL 60047 $209,961.69
600124378 LE,DANNY D 7230 W. 194TH STREET TINLEY PARK IL 60477 $99,394.09
600124380 GRAVINO,SALLY 24 RED OAK CIRCLE WARWICK RI 02886 $123,348.07
600124381 JACOB,LEO LOUIS 5339 EAST EVERETT DRIVE PHOENIX AZ 85254 $59,640.40
600124382 RAPOZA,ROBERT B 19 SANDRA DRIVE WESTERLY RI 02891 $123,750.00
600124383 GOUDELOCK,JAMES R 2306 CARRIAGE RUN EAST CONROE TX 77384 $117,236.97
600124384 GUINN,MAT C 591 ORANGEWOOD DRIVE CONROE TX 77302 $58,327.16
600124385 DIETRICH,DOUGLAS DAVID 1010 ORLEANS AVE NEW ORLEANS LA 70116 $81,403.77
600124386 LINCOLN CAIRNS,TREVA TREA 122 CRAPEMYRTLE CIRCLE COVINGTON LA 70433 $127,249.51
600124387 DOWNEN,SCOTT R 301 WEST 17TH STREET LEADVILLE CO 80461 $161,426.69
600124388 COX,CHARLES R 13922 LAFFITE DRIVE CORPUS CHRISTI TX 78418 $68,993.89
600124389 WILLIAMS,NEIL W 15427 LINKSHIRE DRIVE HOUSTON TX 77062 $30,907.42
600124390 TICE,THOMAS 22322 NORTH LAKE VILLAGE KATY TX 77450 $149,091.13
600124391 WINDSOR,THOMAS D. 4806 BEECH STREET BELLAIRE TX 77401 $165,601.52
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124377 CIRRINCIONE,LELA 7.875 .250 7.625 .0500 7.575 11/01/2012
600124378 LE,DANNY D 7.500 .250 7.250 .0500 7.200 11/01/2012
600124380 GRAVINO,SALLY 7.500 .250 7.250 .0500 7.200 11/01/2012
600124381 JACOB,LEO LOUIS 7.625 .250 7.375 .0500 7.325 11/01/2012
600124382 RAPOZA,ROBERT B 7.500 .250 7.250 .0500 7.200 01/01/2013
600124383 GOUDELOCK,JAMES R 7.250 .250 7.000 .0500 6.950 12/01/2012
600124384 GUINN,MAT C 7.750 .250 7.500 .0500 7.450 12/01/2012
600124385 DIETRICH,DOUGLAS DAVID 7.500 .250 7.250 .0500 7.200 11/01/2012
600124386 LINCOLN CAIRNS,TREVA TREA 7.875 .250 7.625 .0500 7.575 11/01/2012
600124387 DOWNEN,SCOTT R 7.625 .250 7.375 .0500 7.325 11/01/2012
600124388 COX,CHARLES R 7.750 .250 7.500 .0500 7.450 10/01/2012
600124389 WILLIAMS,NEIL W 7.250 .250 7.000 .0500 6.950 11/01/2012
600124390 TICE,THOMAS 7.500 .250 7.250 .0500 7.200 11/01/2012
600124391 WINDSOR,THOMAS D. 7.625 .250 7.375 .0500 7.325 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>
600124377 CIRRINCIONE,LELA 2375400 $2,003.13 01/01/1998 180
600124378 LE,DANNY D 2376011 $927.01 01/01/1998 180
600124380 GRAVINO,SALLY 2395308 $1,150.42 01/01/1998 180
600124381 JACOB,LEO LOUIS 2413231 $560.48 01/01/1998 180
600124382 RAPOZA,ROBERT B 2436333 $1,147.18 01/01/1998 180
600124383 GOUDELOCK,JAMES R 2440564 $1,073.53 01/01/1998 180
600124384 GUINN,MAT C 2440586 $550.65 01/01/1998 180
600124385 DIETRICH,DOUGLAS DAVID 2448414 $759.22 01/01/1998 180
600124386 LINCOLN CAIRNS,TREVA TREA 2448424 $1,214.02 01/01/1998 180
600124387 DOWNEN,SCOTT R 2452823 $1,517.03 01/01/1998 180
600124388 COX,CHARLES R 2455289 $656.54 01/01/1998 180
600124389 WILLIAMS,NEIL W 2455631 $283.90 01/01/1998 180
600124390 TICE,THOMAS 2455675 $1,390.52 01/01/1998 180
600124391 WINDSOR,THOMAS D. 2456185 $1,556.26 01/01/1998 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>
600124377 CIRRINCIONE,LELA $325,000.00 N
600124378 LE,DANNY D $272,000.00 N
600124380 GRAVINO,SALLY $160,000.00 N
600124381 JACOB,LEO LOUIS $151,000.00 N
600124382 RAPOZA,ROBERT B $165,000.00 N
600124383 GOUDELOCK,JAMES R $147,000.00 N
600124384 GUINN,MAT C $81,000.00 N
600124385 DIETRICH,DOUGLAS DAVID $117,000.00 N
600124386 LINCOLN CAIRNS,TREVA TREA $160,000.00 N
600124387 DOWNEN,SCOTT R $203,000.00 N
600124388 COX,CHARLES R $93,000.00 N
600124389 WILLIAMS,NEIL W $94,000.00 N
600124390 TICE,THOMAS $203,848.00 N
600124391 WINDSOR,THOMAS D. $335,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 48
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124392 JONES,JIMMY M 331 12TH AVENUE NORTH TEXAS CITY TX 77590 $29,176.02
600124393 HUA,ALICE MUOI 415 SHELDRAKE COURT SUGAR LAND TX 77478 $141,752.90
600124394 STOCKBRIDGE,GARRY L 316 NORTH CAPITAL BOULEVA GUTHRIE OK 73044 $29,330.81
600124395 BEY,JAMES E 13050 ELIZABETH DRIVE PLAINFIELD IL 60544 $118,891.01
600124396 TRAN,DEN 6309 NORTH LEGETT CHICAG0 IL 60646 $151,098.96
600124397 SHIMABUKURO,HAJIME 3031 WOOLRIDGE DRIVE ORLANDO FL 32837 $67,785.36
600124398 BUDDLE,ROSE MARY 1417 OAKMONT STREET PHILADELPHIA PA 19111 $64,208.61
600124399 KOCH,JAMES G 2100 NE 121ST AVENUE VANCOUVER WA 98684 $182,340.60
600124400 STACK,WILLIAM E 13125 LABRADOR WAY LOLO MT 59847 $81,746.87
600124401 ROBINSON,H. WAYNE 420 WEST CHUBBUCK ROAD CHUBBUCK ID 83202 $116,080.61
600124402 BORDELON,FRANK M 4719 BROOKSDALE ROAD MENTOR OH 44060 $62,622.43
600124403 ADOLPH,CATHERINE L 2776 W. CASAS DRIVE TUCSON AZ 85742 $112,926.59
600124404 BRENNAN,WALLACE E 1819 N. FLINT RIDGE DRIVE TUCSON AZ 85715 $111,420.78
600124405 ROBINSON-CARLSON,TERI L 1601 W. ST. CLAIR STREET TUCSON AZ 85745 $39,762.87
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124392 JONES,JIMMY M 7.750 .250 7.500 .0500 7.450 11/01/2012
600124393 HUA,ALICE MUOI 7.375 .250 7.125 .0500 7.075 11/01/2012
600124394 STOCKBRIDGE,GARRY L 8.125 .250 7.875 .0500 7.825 11/01/2012
600124395 BEY,JAMES E 7.750 .250 7.500 .0500 7.450 11/01/2012
600124396 TRAN,DEN 7.750 .250 7.500 .0500 7.450 11/01/2012
600124397 SHIMABUKURO,HAJIME 7.500 .250 7.250 .0500 7.200 12/01/2012
600124398 BUDDLE,ROSE MARY 7.500 .250 7.250 .0500 7.200 11/01/2012
600124399 KOCH,JAMES G 7.625 .250 7.375 .0500 7.325 10/01/2012
600124400 STACK,WILLIAM E 7.250 .250 7.000 .0500 6.950 12/01/2012
600124401 ROBINSON,H. WAYNE 8.000 .250 7.750 .0500 7.700 11/01/2012
600124402 BORDELON,FRANK M 7.625 .250 7.375 .0500 7.325 11/01/2012
600124403 ADOLPH,CATHERINE L 7.750 .250 7.500 .0500 7.450 11/01/2012
600124404 BRENNAN,WALLACE E 7.500 .250 7.250 .0500 7.200 11/01/2012
600124405 ROBINSON-CARLSON,TERI L 7.750 .250 7.500 .0500 7.450 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>
600124392 JONES,JIMMY M 2456239 $276.26 7 01/01/1998 180
600124393 HUA,ALICE MUOI 2456517 $1,315.49 01/01/1998 180
600124394 STOCKBRIDGE,GARRY L 2471208 $284.05 01/01/1998 180
600124395 BEY,JAMES E 2473449 $1,125.77 01/01/1998 180
600124396 TRAN,DEN 2475034 $1,430.74 01/01/1998 180
600124397 SHIMABUKURO,HAJIME 2496239 $639.64 01/01/1998 180
600124398 BUDDLE,ROSE MARY 2498348 $602.56 01/01/1998 180
600124399 KOCH,JAMES G 2517860 $1,718.80 01/01/1998 180
600124400 STACK,WILLIAM E 2522493 $748.55 01/01/1998 180
600124401 ROBINSON,H. WAYNE 2523778 $1,165.90 01/01/1998 180
600124402 BORDELON,FRANK M 2525825 $588.50 01/01/1998 180
600124403 ADOLPH,CATHERINE L 2528579 $1,069.29 01/01/1998 180
600124404 BRENNAN,WALLACE E 2528738 $1,039.18 01/01/1998 180
600124405 ROBINSON-CARLSON,TERI L 2530494 $376.51 01/01/1998 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>
600124392 JONES,JIMMY M $32,640.00 N
600124393 HUA,ALICE MUOI $261,000.00 N
600124394 STOCKBRIDGE,GARRY L $38,000.00 N
600124395 BEY,JAMES E $149,500.00 N
600124396 TRAN,DEN $190,000.00 N
600124397 SHIMABUKURO,HAJIME $95,000.00 N
600124398 BUDDLE,ROSE MARY $94,500.00 N
600124399 KOCH,JAMES G $230,000.00 N
600124400 STACK,WILLIAM E $176,000.00 N
600124401 ROBINSON,H. WAYNE $207,900.00 N
600124402 BORDELON,FRANK M $134,000.00 N
600124403 ADOLPH,CATHERINE L $142,000.00 N
600124404 BRENNAN,WALLACE E $141,653.00 N
600124405 ROBINSON-CARLSON,TERI L $90,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 49
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124406 STRATMAN,DANIEL E 5634 MONICA DRIVE FAIRFIELD OH 45014 $98,704.27
600124407 ANDREONE,FRANK 4816 BENTON NW ALBUQUERQUE NM 87114 $60,000.00
600124408 HETHERINGTON,GEOFF W 120 WILL SCARLET LANE WILLIAMSBURG VA 23185 $196,000.00
600124410 BOLEWARE,DIANE K 3407 KITES AVENUE PEARL MS 39208 $42,256.26
600124411 GRAHAM,KARLENE E 4560 N.W. 60TH LANE COCONUT CREEK FL 33073 $90,997.13
600124412 MERCHANT,JESSIE J 11039 HELENA DRIVE COOPER CITY FL 33026 $138,344.58
600124413 STANDISH,MICHAEL J 8392 NC HWY 39 SOUTH ZEBULON NC 27597 $108,193.54
600124414 NG,CHUN YAN 33 GLENN COURT SAYERVILLE NJ 08854 $178,944.63
600124415 GUILIANO,JR,JOHN 21-23 GRANITE AVENUE PATERSON NJ 07502 $98,669.40
600124416 PITT,III,JOHN WILSON 1110 LAUREL ROAD EDGEWATER PARK NJ 08010 $81,285.99
600124417 LEONETTI,JANICE 4523 BRIGANTINE AVENUE BRIGANTINE NJ 08203 $67,133.79
600124418 PAEK,SAM Y 38 CHERRY STREET JERSEY CITY NJ 07305 $84,708.88
600124419 WIGGINS,THOMAS V 80 NORTH RAYMOND AVENUE, PASADENA CA 91103 $117,576.65
600124420 GRZECHOWIAK,GERALD 1450 MARLESTA ROAD PINOLE CA 94564 $89,722.17
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124406 STRATMAN,DANIEL E 7.625 .250 7.375 .0500 7.325 12/01/2012
600124407 ANDREONE,FRANK 7.000 .250 6.750 .0500 6.700 01/01/2013
600124408 HETHERINGTON,GEOFF W 7.250 .250 7.000 .0500 6.950 01/01/2013
600124410 BOLEWARE,DIANE K 8.125 .250 7.875 .0500 7.825 11/01/2012
600124411 GRAHAM,KARLENE E 7.500 .250 7.250 .0500 7.200 12/01/2012
600124412 MERCHANT,JESSIE J 7.875 .250 7.625 .0500 7.575 12/01/2012
600124413 STANDISH,MICHAEL J 7.375 .250 7.125 .0500 7.075 10/01/2012
600124414 NG,CHUN YAN 7.875 .250 7.625 .0500 7.575 11/01/2012
600124415 GUILIANO,JR,JOHN 8.125 .250 7.875 .0500 7.825 12/01/2012
600124416 PITT,III,JOHN WILSON 7.500 .250 7.250 .0500 7.200 11/01/2012
600124417 LEONETTI,JANICE 8.750 .250 8.500 .0500 8.450 11/01/2012
600124418 PAEK,SAM Y 7.750 .250 7.500 .0500 7.450 12/01/2012
600124419 WIGGINS,THOMAS V 7.750 .250 7.500 .0500 7.450 11/01/2012
600124420 GRZECHOWIAK,GERALD 7.250 .250 7.000 .0500 6.950 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124406 STRATMAN,DANIEL E 2534020 $924.79 01/01/1998 180
600124407 ANDREONE,FRANK 2535199 $539.30 01/01/1998 180
600124408 HETHERINGTON,GEOFF W 2549842 $1,789.21 01/01/1998 180
600124410 BOLEWARE,DIANE K 2561851 $409.22 2 01/01/1998 180
600124411 GRAHAM,KARLENE E 2564136 $847.29 01/01/1998 180
600124412 MERCHANT,JESSIE J 2565377 $1,315.97 01/01/1998 180
600124413 STANDISH,MICHAEL J 2566683 $1,004.56 01/01/1998 180
600124414 NG,CHUN YAN 2571288 $1,707.21 01/01/1998 180
600124415 GUILIANO,JR,JOHN 2572519 $953.25 01/01/1998 180
600124416 PITT,III,JOHN WILSON 2573039 $776.84 01/01/1998 180
600124417 LEONETTI,JANICE 2573394 $674.63 01/01/1998 180
600124418 PAEK,SAM Y 2573414 $800.08 01/01/1998 180
600124419 WIGGINS,THOMAS V 2604054 $1,113.53 01/01/1998 180
600124420 GRZECHOWIAK,GERALD 2606364 $821.58 01/01/1998 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>
600124406 STRATMAN,DANIEL E $165,000.00 N
600124407 ANDREONE,FRANK $101,450.00 N
600124408 HETHERINGTON,GEOFF W $245,000.00 N
600124410 BOLEWARE,DIANE K $50,000.00 N
600124411 GRAHAM,KARLENE E $121,900.00 N
600124412 MERCHANT,JESSIE J $185,000.00 N
600124413 STANDISH,MICHAEL J $136,500.00 N
600124414 NG,CHUN YAN $240,700.00 N
600124415 GUILIANO,JR,JOHN $155,000.00 N
600124416 PITT,III,JOHN WILSON $104,750.00 N
600124417 LEONETTI,JANICE $90,000.00 N
600124418 PAEK,SAM Y $120,000.00 N
600124419 WIGGINS,THOMAS V $169,000.00 N
600124420 GRZECHOWIAK,GERALD $159,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 50
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124421 JUAREZ,BENITO 9219 DOVER RIDGE SAN ANTONIO TX 78250 $101,179.50
600124422 DENOVA,ERNESTINA 809 YORKSHIRE AVENUE PASADENA TX 77503 $51,017.89
600124423 SATTARI,MAHMOOD 2190 SOUTH HOLLY STREET # DENVER CO 80222 $36,680.08
600124424 SEABO,CHARLENE M 568 MANTUA AVENUE PAULSBORO NJ 08066 $42,371.65
600124425 SUTTON,BEAU 1366 AMARILLO STREET ABILENE TX 79602 $51,839.48
600124426 JOHNSON,DAVID S 629 DONNA COURT BURLESON TX 76028 $82,400.00
600124428 FELTON,NANCY 2301-2311 WEST DRAVUS STR SEATTLE WA 98199 $119,280.80
600124429 LU,JASON DUNG M 14114 55TH AVENUE SOUTH TUKWILLA WA 98168 $115,634.03
600124430 MARTIN,BRIAN E 4034 36TH AVENUE SOUTHWES SEATTLE WA 98126 $120,747.60
600124431 BISIGNANO,JR,DOMINIC A 77 SALEM STREET #4A BOSTON MA 02113 $197,416.83
600124432 PHILLIPS,LINDA S 6161 AND 6163 VELASCO AVE DALLAS TX 75214 $100,125.00
600124433 OSBORNE,ROBERT 520 WOODLAKE DR. COPPELL TX 75019 $91,466.49
600124434 OSBORNE,ROBERT L 226 EDGEWOOD DRIVE COPPELL TX 75019 $73,173.20
600124435 OSBORNE,ROBERT L 205 HEATHER GLEN DRIVE COPPELL TX 75019 $76,851.73
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124421 JUAREZ,BENITO 7.500 .250 7.250 .0500 7.200 11/01/2012
600124422 DENOVA,ERNESTINA 7.375 .250 7.125 .0500 7.075 11/01/2012
600124423 SATTARI,MAHMOOD 7.750 .250 7.500 .0500 7.450 11/01/2012
600124424 SEABO,CHARLENE M 7.500 .250 7.250 .0500 7.200 12/01/2012
600124425 SUTTON,BEAU 7.250 .250 7.000 .0500 6.950 12/01/2012
600124426 JOHNSON,DAVID S 7.625 .250 7.375 .0500 7.325 01/01/2013
600124428 FELTON,NANCY 7.625 .250 7.375 .0500 7.325 11/01/2012
600124429 LU,JASON DUNG M 7.000 .250 6.750 .0500 6.700 12/01/2012
600124430 MARTIN,BRIAN E 7.250 .250 7.000 .0500 6.950 11/01/2012
600124431 BISIGNANO,JR,DOMINIC A 7.500 .250 7.250 .0500 7.200 10/01/2012
600124432 PHILLIPS,LINDA S 7.500 .250 7.250 .0500 7.200 01/01/2013
600124433 OSBORNE,ROBERT 8.000 .250 7.750 .0500 7.700 11/01/2012
600124434 OSBORNE,ROBERT L 8.000 .250 7.750 .0500 7.700 11/01/2012
600124435 OSBORNE,ROBERT L 8.000 .250 7.750 .0500 7.700 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>
600124421 JUAREZ,BENITO 2607317 $947.41 01/01/1998 180
600124422 DENOVA,ERNESTINA 2608989 $478.36 01/01/1998 180
600124423 SATTARI,MAHMOOD 2614475 $349.21 01/01/1998 180
600124424 SEABO,CHARLENE M 2629764 $393.98 01/01/1998 180
600124425 SUTTON,BEAU 2639162 $474.69 01/01/1998 180
600124426 JOHNSON,DAVID S 2639760 $769.72 01/01/1998 180
600124428 FELTON,NANCY 2646389 $1,120.96 01/01/1998 180
600124429 LU,JASON DUNG M 2647859 $1,042.64 01/01/1998 180
600124430 MARTIN,BRIAN E 2647999 $1,109.13 01/01/1998 180
600124431 BISIGNANO,JR,DOMINIC A 2649676 $1,854.02 01/01/1998 180
600124432 PHILLIPS,LINDA S 2658409 $928.17 01/01/1998 180
600124433 OSBORNE,ROBERT 2659435 $879.20 01/01/1998 180
600124434 OSBORNE,ROBERT L 2659455 $703.36 01/01/1998 180
600124435 OSBORNE,ROBERT L 2659466 $738.72 19 01/01/1998 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>
600124421 JUAREZ,BENITO $135,000.00 N
600124422 DENOVA,ERNESTINA $65,000.00 N
600124423 SATTARI,MAHMOOD $53,000.00 N
600124424 SEABO,CHARLENE M $75,000.00 N
600124425 SUTTON,BEAU $65,000.00 N
600124426 JOHNSON,DAVID S $103,000.00 N
600124428 FELTON,NANCY $330,000.00 N
600124429 LU,JASON DUNG M $150,000.00 N
600124430 MARTIN,BRIAN E $250,000.00 N
600124431 BISIGNANO,JR,DOMINIC A $250,000.00 N
600124432 PHILLIPS,LINDA S $133,500.00 N
600124433 OSBORNE,ROBERT $128,000.00 N
600124434 OSBORNE,ROBERT L $92,000.00 N
600124435 OSBORNE,ROBERT L $92,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 51
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124436 OSBORNE,ROBERT 1236 SETTLERS WAY LEWISVILLE TX 75087 $63,350.40
600124437 BLAZE,MICHAEL J 201 SUNNY CREST DRIVE MURPHY TX 75094 $29,818.23
600124438 POON,YAU ON 1402 BOWIE STREET GARLAND TX 75042 $55,774.68
600124439 COOPER,GARY N 3733 MARLBOROUGH COURT PLANO TX 75075 $153,534.90
600124440 PIERCE JR,ALBERT L 15830-15832 EL ESTADO DRI DALLAS TX 75000 $121,141.04
600124441 BROOKS,THOMAS D 6005 & 6007 CALLOWAY COUR FORT WORTH TX 76114 $41,010.79
600124442 PIERCE JR,ALBERT L 15863-15865 EL ESTADO DRI DALLAS TX 75243 $112,167.62
600124443 KLEGER,SHELDON 5085 SOUTH HIGHWAY A1A MELBOURNE BEACH FL 32951 $100,000.00
600124444 ROSS,GEORGE DALE 108 SPRINGWATER AVENUE MADISON AL 35758 $146,000.00
600124445 BORNA,MOHAMMED REZ 14104 STONEY GATE PLACE SAN DIEGO CA 92128 $120,622.38
600124446 ENGERT,JACQUELINE 210 AUBURN AVENUE ROCHESTER NY 14606 $38,632.97
600124447 SORENSEN,STEVEN 4960 HARRISON DRIVE # 217 LAS VEGAS NV 89120 $25,796.17
600124448 YI QIANG,MARTIN LI 205 SEAHAWK STREET LAS VEGAS NV 89128 $85,955.77
600124449 JESKE,KEITH W 4716 SUN VALLEY DRIVE LAS VEGAS NV 89121 $78,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124436 OSBORNE,ROBERT 8.000 .250 7.750 .0500 7.700 11/01/2012
600124437 BLAZE,MICHAEL J 7.500 .250 7.250 .0500 7.200 11/01/2012
600124438 POON,YAU ON 8.000 .250 7.750 .0500 7.700 11/01/2012
600124439 COOPER,GARY N 7.500 .250 7.250 .0500 7.200 12/01/2012
600124440 PIERCE JR,ALBERT L 7.750 .250 7.500 .0500 7.450 12/01/2012
600124441 BROOKS,THOMAS D 8.000 .250 7.750 .0500 7.700 11/01/2012
600124442 PIERCE JR,ALBERT L 7.750 .250 7.500 .0500 7.450 12/01/2012
600124443 KLEGER,SHELDON 7.875 .250 7.625 .0500 7.575 01/01/2013
600124444 ROSS,GEORGE DALE 7.375 .250 7.125 .0500 7.075 01/01/2013
600124445 BORNA,MOHAMMED REZ 7.125 .250 6.875 .0500 6.825 12/01/2012
600124446 ENGERT,JACQUELINE 7.500 .250 7.250 .0500 7.200 12/01/2012
600124447 SORENSEN,STEVEN 7.750 .250 7.500 .0500 7.450 11/01/2012
600124448 YI QIANG,MARTIN LI 8.250 .250 8.000 .0500 7.950 12/01/2012
600124449 JESKE,KEITH W 7.750 .250 7.500 .0500 7.450 01/01/2013
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124436 OSBORNE,ROBERT 2659477 $609.23 01/01/1998 180
600124437 BLAZE,MICHAEL J 2659572 $278.10 01/01/1998 180
600124438 POON,YAU ON 2659710 $536.12 19 01/01/1998 180
600124439 COOPER,GARY N 2660247 $1,427.60 19 01/01/1998 180
600124440 PIERCE JR,ALBERT L 2660343 $1,143.65 19 01/01/1998 180
600124441 BROOKS,THOMAS D 2660525 $394.21 01/01/1998 180
600124442 PIERCE JR,ALBERT L 2660899 $1,058.94 19 01/01/1998 180
600124443 KLEGER,SHELDON 2684444 $948.45 01/01/1998 180
600124444 ROSS,GEORGE DALE 2687613 $1,343.09 01/01/1998 180
600124445 BORNA,MOHAMMED REZ 2690014 $1,096.06 01/01/1998 180
600124446 ENGERT,JACQUELINE 2694524 $359.22 01/01/1998 180
600124447 SORENSEN,STEVEN 2697113 $244.26 01/01/1998 180
600124448 YI QIANG,MARTIN LI 2698127 $836.75 01/01/1998 180
600124449 JESKE,KEITH W 2698202 $734.20 01/01/1998 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>
600124436 OSBORNE,ROBERT $85,000.00 N
600124437 BLAZE,MICHAEL J $103,000.00 N
600124438 POON,YAU ON $66,000.00 N
600124439 COOPER,GARY N $186,000.00 N
600124440 PIERCE JR,ALBERT L $136,250.00 N
600124441 BROOKS,THOMAS D $56,000.00 N
600124442 PIERCE JR,ALBERT L $125,000.00 N
600124443 KLEGER,SHELDON $365,000.00 N
600124444 ROSS,GEORGE DALE $195,000.00 N
600124445 BORNA,MOHAMMED REZ $224,000.00 N
600124446 ENGERT,JACQUELINE $48,450.00 N
600124447 SORENSEN,STEVEN $83,950.00 N
600124448 YI QIANG,MARTIN LI $115,000.00 N
600124449 JESKE,KEITH W $104,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 52
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124450 LEWENDAL,BO 12135 SW DAVIES ROAD BEAVERTON OR 97008 $118,038.48
600124452 DIXSON,JIMMIE L 24171 JUANITA DRIVE LAGUNA NIGUEL CA 92677 $154,920.29
600124453 WESSELS,DALE L 15 BRIGHTON PLACE LAGUNA NIGUEL CA 92677 $71,780.16
600124454 ROWLAND,CHRIS 2122 EASTVIEW DRIVE MURFREESBORO TN 37218 $119,592.45
600124455 FARROW,MARY GOODALL 1613 SHADY CREST DRIVE LEBANON TN 37087 $87,224.09
600124456 LANE,LOUIS PHILLI 4684 BULL RUN ROAD ASHLAND CITY TN 37015 $49,710.04
600124457 SCULLIN,MARC 15 3RD STREET BIDDEFORD ME 04005 $59,890.64
600124458 YAO,YUNG DEE 1080 WINTHROPE CHASE DRIV ALPHARETTA GA 30004 $48,937.21
600124459 JEWELL,JR,LEWIS D 360 FREELAND ROAD PORTLAND TN 37148 $83,042.86
600124460 DALE,PALMA A 6725 NORTH MAIN STREET ROCKFORD IL 61103 $86,250.00
600124461 SMALL,JACKIE M 3014 WEST BROWNING AVENUE FRESNO CA 93711 $82,021.59
600124463 LAURO,MICHAEL J 81 CONVERSE STREET LONGMEADOW MA 01106 $67,578.90
600124464 HATAMI,MOHAMMAD 231 MORELAND STREET WORCESTER MA 01609 $67,801.30
600124465 TRAN,LY VAN 2925 N. NATCHEZ CHICAGO IL 60634 $99,717.36
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124450 LEWENDAL,BO 7.375 .250 7.125 .0500 7.075 12/01/2012
600124452 DIXSON,JIMMIE L 7.250 .250 7.000 .0500 6.950 12/01/2012
600124453 WESSELS,DALE L 7.375 .250 7.125 .0500 7.075 12/01/2012
600124454 ROWLAND,CHRIS 7.875 .250 7.625 .0500 7.575 12/01/2012
600124455 FARROW,MARY GOODALL 7.625 .250 7.375 .0500 7.325 11/01/2012
600124456 LANE,LOUIS PHILLI 8.000 .250 7.750 .0500 7.700 11/01/2012
600124457 SCULLIN,MARC 7.500 .250 7.250 .0500 7.200 12/01/2012
600124458 YAO,YUNG DEE 7.125 .250 6.875 .0500 6.825 11/01/2012
600124459 JEWELL,JR,LEWIS D 7.250 .250 7.000 .0500 6.950 12/01/2012
600124460 DALE,PALMA A 7.500 .250 7.250 .0500 7.200 01/01/2013
600124461 SMALL,JACKIE M 8.000 .250 7.750 .0500 7.700 11/01/2012
600124463 LAURO,MICHAEL J 7.250 .250 7.000 .0500 6.950 11/01/2012
600124464 HATAMI,MOHAMMAD 7.875 .250 7.625 .0500 7.575 12/01/2012
600124465 TRAN,LY VAN 8.250 .250 8.000 .0500 7.950 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124450 LEWENDAL,BO 2711261 $1,089.19 01/01/1998 180
600124452 DIXSON,JIMMIE L 2719223 $1,418.59 01/01/1998 180
600124453 WESSELS,DALE L 2719683 $662.34 01/01/1998 180
600124454 ROWLAND,CHRIS 2726993 $1,138.14 01/01/1998 180
600124455 FARROW,MARY GOODALL 2727529 $819.70 01/01/1998 180
600124456 LANE,LOUIS PHILLI 2727551 $477.83 01/01/1998 180
600124457 SCULLIN,MARC 2734852 $557.13 01/01/1998 180
600124458 YAO,YUNG DEE 2747528 $452.92 01/01/1998 180
600124459 JEWELL,JR,LEWIS D 2751167 $760.41 01/01/1998 180
600124460 DALE,PALMA A 2752644 $799.55 01/01/1998 180
600124461 SMALL,JACKIE M 2754184 $788.41 01/01/1998 180
600124463 LAURO,MICHAEL J 2756068 $620.75 01/01/1998 180
600124464 HATAMI,MOHAMMAD 2757405 $644.95 01/01/1998 180
600124465 TRAN,LY VAN 2764458 $970.14 01/01/1998 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>
600124450 LEWENDAL,BO $148,000.00 N
600124452 DIXSON,JIMMIE L $222,000.00 N
600124453 WESSELS,DALE L $90,000.00 N
600124454 ROWLAND,CHRIS $168,000.00 N
600124455 FARROW,MARY GOODALL $135,000.00 N
600124456 LANE,LOUIS PHILLI $134,000.00 N
600124457 SCULLIN,MARC $200,000.00 N
600124458 YAO,YUNG DEE $145,785.00 N
600124459 JEWELL,JR,LEWIS D $119,000.00 N
600124460 DALE,PALMA A $115,000.00 N
600124461 SMALL,JACKIE M $110,000.00 N
600124463 LAURO,MICHAEL J $157,000.00 N
600124464 HATAMI,MOHAMMAD $114,000.00 N
600124465 TRAN,LY VAN $172,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 53
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124466 LEKO,SANDRA 2081 BUFFALO STREET CASPER WY 82604 $79,257.25
600124467 CONLEY,MILTON F 3029 ROCK DRIVE RIVA MD 21140 $119,226.76
600124468 BONNER,JOHN C 12761 GILBERT STREET GARDEN GROVE CA 92841 $39,757.65
600124469 BLAIR,DON RANDY 22741 SWEET MEADOW MISSION VIEJO CA 92692 $176,956.36
600124470 WOODWICK,KEVIN 3026 LATHAM LANE EL DORADO HILLS CA 95762 $126,612.22
600124471 CRAIG,CHARLES E 110 MAIN ROAD RUIDOSO NM 88345 $50,196.07
600124472 SPRINGER SR,LOUIS W 1705 BLUFFSIDE NW ALBUQUERQUE NM 87121 $122,775.89
600124473 CAVIS,JAMES R 9210 FAIRBANKS ROAD N.E. ALBUQUERQUE NM 87112 $71,388.47
600124474 HAMILTON,MARK T 1238 15TH STREET N.W. CANTON OH 44703 $25,043.95
600124475 SMITH,SHANE W 87 WEST WOODSDALE AVENUE AKRON OH 44301 $80,000.00
600124476 JAGEL,SR,RICHARD A 314 BIRCHWOOD DRIVE SANDUSKY OH 44870 $87,728.35
600124477 DELO,RICHARD K 371 WEST SAGEBRUSH STREET GILBERT AZ 85233 $129,709.29
600124478 HOLZER,THOMAS 3802 CARROWAY STREET TAMPA FL 33619 $31,309.33
600124479 PAYNE,JANICE C 6334 44TH AVENUE NORTH KENNETH CITY FL 33709 $32,804.39
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124466 LEKO,SANDRA 7.375 .250 7.125 .0500 7.075 12/01/2012
600124467 CONLEY,MILTON F 7.125 .250 6.875 .0500 6.825 12/01/2012
600124468 BONNER,JOHN C 7.500 .250 7.250 .0500 7.200 11/01/2012
600124469 BLAIR,DON RANDY 7.875 .250 7.625 .0500 7.575 11/01/2012
600124470 WOODWICK,KEVIN 7.375 .250 7.125 .0500 7.075 12/01/2012
600124471 CRAIG,CHARLES E 7.750 .250 7.500 .0500 7.450 11/01/2012
600124472 SPRINGER SR,LOUIS W 7.875 .250 7.625 .0500 7.575 11/01/2012
600124473 CAVIS,JAMES R 7.750 .250 7.500 .0500 7.450 12/01/2012
600124474 HAMILTON,MARK T 7.250 .250 7.000 .0500 6.950 11/01/2012
600124475 SMITH,SHANE W 7.000 .250 6.750 .0500 6.700 01/01/2013
600124476 JAGEL,SR,RICHARD A 7.250 .250 7.000 .0500 6.950 12/01/2012
600124477 DELO,RICHARD K 7.500 .250 7.250 .0500 7.200 11/01/2012
600124478 HOLZER,THOMAS 8.125 .250 7.875 .0500 7.825 11/01/2012
600124479 PAYNE,JANICE C 7.750 .250 7.500 .0500 7.450 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>
600124466 LEKO,SANDRA 2772618 $731.34 01/01/1998 180
600124467 CONLEY,MILTON F 2777933 $1,083.37 01/01/1998 180
600124468 BONNER,JOHN C 2779338 $370.80 01/01/1998 180
600124469 BLAIR,DON RANDY 2779755 $1,688.24 01/01/1998 180
600124470 WOODWICK,KEVIN 2782910 $1,168.30 01/01/1998 180
600124471 CRAIG,CHARLES E 2787441 $480.05 01/01/1998 180
600124472 SPRINGER SR,LOUIS W 2787868 $1,171.34 01/01/1998 180
600124473 CAVIS,JAMES R 2788103 $673.95 01/01/1998 180
600124474 HAMILTON,MARK T 2796883 $230.04 19 01/01/1998 180
600124475 SMITH,SHANE W 2797579 $719.06 01/01/1998 180
600124476 JAGEL,SR,RICHARD A 2797824 $803.32 01/01/1998 180
600124477 DELO,RICHARD K 2806927 $1,209.75 2 01/01/1998 180
600124478 HOLZER,THOMAS 2812219 $303.31 7 01/01/1998 180
600124479 PAYNE,JANICE C 2812732 $310.62 01/01/1998 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>
600124466 LEKO,SANDRA $130,000.00 N
600124467 CONLEY,MILTON F $154,000.00 N
600124468 BONNER,JOHN C $200,000.00 N
600124469 BLAIR,DON RANDY $465,000.00 N
600124470 WOODWICK,KEVIN $175,000.00 N
600124471 CRAIG,CHARLES E $82,000.00 N
600124472 SPRINGER SR,LOUIS W $250,000.00 N
600124473 CAVIS,JAMES R $95,000.00 N
600124474 HAMILTON,MARK T $28,000.00 N
600124475 SMITH,SHANE W $130,000.00 N
600124476 JAGEL,SR,RICHARD A $130,000.00 N
600124477 DELO,RICHARD K $145,000.00 N
600124478 HOLZER,THOMAS $35,000.00 N
600124479 PAYNE,JANICE C $66,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 54
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124480 DELLANA,MARYBELLE B 171 LINDENVALE DRIVE MCMURRAY PA 15317 $64,812.16
600124481 HOHL,JOAN V 301 NORTH MONONGAHELA AVE GLASSPORT PA 15045 $42,883.78
600124482 WATSON,R BARRY 124 MYRTLE AVE WEST GROVE PA 19390 $98,156.86
600124483 CHANG,IN SANG 2629 ALAMEDA DRIVE VIRGINIA BEACH VA 23456 $147,900.00
600124484 CHE,ALLEN CUONG 20 ARBOR POINT CT ST CHARLES MO 63303 $143,624.47
600124485 GUDMUNSON,MONTY MARTIN 20 NORTH 6TH WEST ST. ANTHONY ID 83445 $54,915.24
600124486 BOULTON,DOUGLAS G 803 EAST 9630 SOUTH SANDY UT 84094 $119,099.72
600124487 HANKS TRAUTMAN,ADELINE AB 1122 MARY LEE STREET FRANKLIN LA 70538 $46,929.29
600124488 YANG,JUI-LAN LEE 13127 GENTRY BATON ROUGE LA 70817 $54,666.74
600124490 MESSENGER,E. KAY 1417 SOUTH CHESTER STILLWATER OK 74075 $18,340.62
600124491 LAUERMAN,JAMES E 703 SOUTH HOLMES CUSHING OK 74023 $62,815.92
600124492 COOK,JAMES S 939 NORTH RIDGE DRIVE COLUMBUS GA 31904 $84,751.63
600124493 DEAN,TERRY A 1257 KIRBY CIRCLE BEL AIR MD 21015 $97,298.72
600124494 PETERSON,COURTNEY 458 E. TARPON BOULEVARD PORT CHARLOTTE FL 33952 $70,989.64
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124480 DELLANA,MARYBELLE B 8.000 .250 7.750 .0500 7.700 12/01/2012
600124481 HOHL,JOAN V 8.750 .250 8.500 .0500 8.450 12/01/2012
600124482 WATSON,R BARRY 7.500 .250 7.250 .0500 7.200 12/01/2012
600124483 CHANG,IN SANG 7.000 .250 6.750 .0500 6.700 01/01/2013
600124484 CHE,ALLEN CUONG 7.500 .250 7.250 .0500 7.200 11/01/2012
600124485 GUDMUNSON,MONTY MARTIN 7.500 .250 7.250 .0500 7.200 11/01/2012
600124486 BOULTON,DOUGLAS G 7.125 .250 6.875 .0500 6.825 11/01/2012
600124487 HANKS TRAUTMAN,ADELINE AB 8.125 .250 7.875 .0500 7.825 11/01/2012
600124488 YANG,JUI-LAN LEE 7.500 .250 7.250 .0500 7.200 11/01/2012
600124490 MESSENGER,E. KAY 7.750 .250 7.500 .0500 7.450 11/01/2012
600124491 LAUERMAN,JAMES E 7.875 .250 7.625 .0500 7.575 12/01/2012
600124492 COOK,JAMES S 7.875 .250 7.625 .0500 7.575 12/01/2012
600124493 DEAN,TERRY A 7.250 .250 7.000 .0500 6.950 12/01/2012
600124494 PETERSON,COURTNEY 7.750 .250 7.500 .0500 7.450 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124480 DELLANA,MARYBELLE B 2813760 $621.17 01/01/1998 180
600124481 HOHL,JOAN V 2815237 $429.76 01/01/1998 180
600124482 WATSON,R BARRY 2816466 $913.11 01/01/1998 180
600124483 CHANG,IN SANG 2820249 $1,329.37 01/01/1998 180
600124484 CHE,ALLEN CUONG 2831806 $1,339.53 01/01/1998 180
600124485 GUDMUNSON,MONTY MARTIN 2836479 $512.17 7 01/01/1998 180
600124486 BOULTON,DOUGLAS G 2837004 $1,085.64 7 01/01/1998 180
600124487 HANKS TRAUTMAN,ADELINE AB 2839071 $454.48 2 01/01/1998 180
600124488 YANG,JUI-LAN LEE 2840539 $509.86 01/01/1998 180
600124490 MESSENGER,E. KAY 2843823 $173.67 2 01/01/1998 180
600124491 LAUERMAN,JAMES E 2843949 $597.52 2 01/01/1998 180
600124492 COOK,JAMES S 2865739 $806.18 19 01/01/1998 180
600124493 DEAN,TERRY A 2869435 $890.95 01/01/1998 180
600124494 PETERSON,COURTNEY 2871829 $670.19 01/01/1998 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>
600124480 DELLANA,MARYBELLE B $190,000.00 N
600124481 HOHL,JOAN V $62,000.00 N
600124482 WATSON,R BARRY $124,000.00 N
600124483 CHANG,IN SANG $184,880.00 N
600124484 CHE,ALLEN CUONG $192,705.00 N
600124485 GUDMUNSON,MONTY MARTIN $66,400.00 N
600124486 BOULTON,DOUGLAS G $141,000.00 N
600124487 HANKS TRAUTMAN,ADELINE AB $55,600.00 N
600124488 YANG,JUI-LAN LEE $150,000.00 N
600124490 MESSENGER,E. KAY $20,500.00 N
600124491 LAUERMAN,JAMES E $70,000.00 N
600124492 COOK,JAMES S $95,000.00 N
600124493 DEAN,TERRY A $122,000.00 N
600124494 PETERSON,COURTNEY $89,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 55
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124495 RYAN,GREGORY J 2207 S.CAROLINA AVE. UNIT TAMPA FL 33629 $21,173.73
600124496 MACLAURY,JAMES C 1328 PASADENA AVENUE SOUT SOUTH PASADENA FL 33707 $64,196.82
600124497 WILSON,BETTY JANE 1107 HEATHERWOOD LANE FORT COLLINS CO 80525 $109,303.89
600124498 MERCADO,PETE 8109 OTIS CT FORT COLLINS CO 80528 $82,570.46
600124499 PLAISIR,MARIE LOURDE 680 EAST 43RD STREET BROOKLYN NY 11203 $118,415.99
600124500 SANTURRI,EUGENE ANTHONY 30 BATCHELLER AVENUE PROVIDENCE RI 02904 $99,704.55
600124501 PANG,SHERMAN 1711 GRISMER AVENUE NO. 4 BURBANK CA 91504 $99,707.80
600124502 YOO,HONG SUP 5248 EAST GABRIELLE LANE ORANGE CA 92667 $194,423.89
600124503 COSSUTTA,RENEE 1724-1726 1/2 REDCLIFF ST LOS ANGELES CA 90026 $188,736.15
600124504 SHIN,HAI RYOUNG 5154 CROWN AVENUE LA CANADA-FLINT CA 91011 $198,788.18
600124505 STRIBLING,ROBERT W 605 A & B LOST SPRINGS CO ARLINGTON TX 76012 $81,425.06
600124506 SONG,MING HWA 3326 PEBBLE BEACH DRIVE HARLINGEN TX 78550 $196,800.00
600124507 DOUPNIK,LADISLAV 6803 RIO BRAVO LANE AUSTIN TX 78736 $25,193.75
600124508 TAN,JANUARIO 1080 BELLE AVENUE TEANECK NJ 07666 $119,902.50
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124495 RYAN,GREGORY J 7.750 .250 7.500 .0500 7.450 11/01/2012
600124496 MACLAURY,JAMES C 7.000 .250 6.750 .0500 6.700 12/01/2012
600124497 WILSON,BETTY JANE 7.000 .250 6.750 .0500 6.700 11/01/2012
600124498 MERCADO,PETE 7.500 .250 7.250 .0500 7.200 12/01/2012
600124499 PLAISIR,MARIE LOURDE 8.125 .250 7.875 .0500 7.825 11/01/2012
600124500 SANTURRI,EUGENE ANTHONY 7.750 .250 7.500 .0500 7.450 12/01/2012
600124501 PANG,SHERMAN 7.875 .250 7.625 .0500 7.575 12/01/2012
600124502 YOO,HONG SUP 7.750 .250 7.500 .0500 7.450 12/01/2012
600124503 COSSUTTA,RENEE 7.375 .250 7.125 .0500 7.075 11/01/2012
600124504 SHIN,HAI RYOUNG 7.500 .250 7.250 .0500 7.200 11/01/2012
600124505 STRIBLING,ROBERT W 8.000 .250 7.750 .0500 7.700 11/01/2012
600124506 SONG,MING HWA 7.750 .250 7.500 .0500 7.450 01/01/2013
600124507 DOUPNIK,LADISLAV 7.750 .250 7.500 .0500 7.450 12/01/2012
600124508 TAN,JANUARIO 8.000 .250 7.750 .0500 7.700 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124495 RYAN,GREGORY J 2871875 $200.49 01/01/1998 180
600124496 MACLAURY,JAMES C 2872468 $578.85 01/01/1998 180
600124497 WILSON,BETTY JANE 2873852 $988.71 01/01/1998 180
600124498 MERCADO,PETE 2874149 $772.20 2 01/01/1998 180
600124499 PLAISIR,MARIE LOURDE 2875461 $1,150.64 01/01/1998 180
600124500 SANTURRI,EUGENE ANTHONY 2875854 $941.28 01/01/1998 180
600124501 PANG,SHERMAN 2896777 $948.45 01/01/1998 180
600124502 YOO,HONG SUP 2897251 $1,835.49 01/01/1998 180
600124503 COSSUTTA,RENEE 2897309 $1,747.85 01/01/1998 180
600124504 SHIN,HAI RYOUNG 2897585 $1,854.02 01/01/1998 180
600124505 STRIBLING,ROBERT W 2901082 $782.68 2 01/01/1998 180
600124506 SONG,MING HWA 2902929 $1,852.43 01/01/1998 180
600124507 DOUPNIK,LADISLAV 2903046 $282.38 01/01/1998 180
600124508 TAN,JANUARIO 2904427 $1,149.17 01/01/1998 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>
600124495 RYAN,GREGORY J $30,000.00 N
600124496 MACLAURY,JAMES C $92,000.00 N
600124497 WILSON,BETTY JANE $209,000.00 N
600124498 MERCADO,PETE $98,000.00 N
600124499 PLAISIR,MARIE LOURDE $170,000.00 N
600124500 SANTURRI,EUGENE ANTHONY $125,000.00 N
600124501 PANG,SHERMAN $125,000.00 N
600124502 YOO,HONG SUP $595,000.00 N
600124503 COSSUTTA,RENEE $260,000.00 N
600124504 SHIN,HAI RYOUNG $400,000.00 N
600124505 STRIBLING,ROBERT W $91,000.00 N
600124506 SONG,MING HWA $246,000.00 N
600124507 DOUPNIK,LADISLAV $167,000.00 N
600124508 TAN,JANUARIO $185,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 56
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124509 PORTER,GWENDOLYN A 37 PEACOCK LANE WILLINGBORO NJ 08046 $86,163.84
600124510 WILLIAMS,JERRY D RT #2 BOX 109 CHANUTE KS 66720 $44,859.01
600124511 BROWN,CATHY C 6656 WALROND KANSAS CITY MO 64132 $36,798.01
600124512 BEAVER,DAVIS A 19904 W. 99TH COURT LENEXA KS 66220 $109,000.00
600124513 GLOMSKI,RICHARD ARTH 14702 RIVERFOREST DRIVE HOUSTON TX 77079 $151,535.89
600124514 SHIH,LI TIEN 11610 GLEN LAKE DRIVE SUGAR LAND TX 77478 $112,160.24
600124515 BARTON,HENRY 16 NORTH MAGNOLIA ROAD NEW CANEY TX 77357 $39,838.34
600124516 QUIGLEY,PATRICK S 1612 22ND STREET GALVESTON TX 77550 $35,902.70
600124517 GARCES,GUADALUPE E 801 LUM AVENUE CORPUS CHRISTI TX 78412 $31,500.00
600124518 NGAN,MAN KWONG 12419 GREEN TRAILS DRIVE STAFFORD TX 77477 $123,600.00
600124519 NGUYEN,HAI TAN 5534 CACTUS FOREST DRIVE HOUSTON TX 77088 $44,815.73
600124520 TROUSDALE III,BENJAMIN F 1250 TEXAS HIGHWAY 87 CRYSTAL BEACH TX 77650 $34,879.69
600124521 VUNCANNON,WILLIAM WADE 201 SOUTH AIKEN STREET FUQUAY-VARINA NC 27526 $71,596.66
600124522 WEST,MORTON S 16315 GREEN MANOR DRIVE HUMBLE TX 77396 $19,088.65
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124509 PORTER,GWENDOLYN A 8.625 .250 8.375 .0500 8.325 12/01/2012
600124510 WILLIAMS,JERRY D 7.125 .250 6.875 .0500 6.825 12/01/2012
600124511 BROWN,CATHY C 8.500 .250 8.250 .0500 8.200 12/01/2012
600124512 BEAVER,DAVIS A 7.500 .250 7.250 .0500 7.200 01/01/2013
600124513 GLOMSKI,RICHARD ARTH 7.375 .250 7.125 .0500 7.075 12/01/2012
600124514 SHIH,LI TIEN 7.500 .250 7.250 .0500 7.200 12/01/2012
600124515 BARTON,HENRY 8.375 .250 8.125 .0500 8.075 12/01/2012
600124516 QUIGLEY,PATRICK S 8.750 .250 8.500 .0500 8.450 12/01/2012
600124517 GARCES,GUADALUPE E 7.625 .250 7.375 .0500 7.325 01/01/2013
600124518 NGAN,MAN KWONG 7.750 .250 7.500 .0500 7.450 01/01/2013
600124519 NGUYEN,HAI TAN 7.625 .250 7.375 .0500 7.325 12/01/2012
600124520 TROUSDALE III,BENJAMIN F 7.875 .250 7.625 .0500 7.575 12/01/2012
600124521 VUNCANNON,WILLIAM WADE 9.250 .250 9.000 .0500 8.950 11/01/2012
600124522 WEST,MORTON S 8.000 .250 7.750 .0500 7.700 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>
600124509 PORTER,GWENDOLYN A 2905347 $857.16 7 01/01/1998 180
600124510 WILLIAMS,JERRY D 2905823 $407.62 12 01/01/1998 180
600124511 BROWN,CATHY C 2907424 $363.37 12 01/01/1998 180
600124512 BEAVER,DAVIS A 2907828 $1,010.44 01/01/1998 180
600124513 GLOMSKI,RICHARD ARTH 2908110 $1,398.28 01/01/1998 180
600124514 SHIH,LI TIEN 2908496 $1,042.89 01/01/1998 180
600124515 BARTON,HENRY 2908619 $390.48 01/01/1998 180
600124516 QUIGLEY,PATRICK S 2908787 $359.80 7 01/01/1998 180
600124517 GARCES,GUADALUPE E 2909822 $294.25 01/01/1998 180
600124518 NGAN,MAN KWONG 2909946 $1,163.42 01/01/1998 180
600124519 NGUYEN,HAI TAN 2910201 $419.89 01/01/1998 180
600124520 TROUSDALE III,BENJAMIN F 2910236 $331.96 01/01/1998 180
600124521 VUNCANNON,WILLIAM WADE 2913852 $741.02 7 01/01/1998 180
600124522 WEST,MORTON S 2918567 $183.49 01/01/1998 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>
600124509 PORTER,GWENDOLYN A $96,000.00 N
600124510 WILLIAMS,JERRY D $50,000.00 N
600124511 BROWN,CATHY C $41,000.00 N
600124512 BEAVER,DAVIS A $240,850.00 N
600124513 GLOMSKI,RICHARD ARTH $190,000.00 N
600124514 SHIH,LI TIEN $140,670.00 N
600124515 BARTON,HENRY $54,000.00 N
600124516 QUIGLEY,PATRICK S $40,000.00 N
600124517 GARCES,GUADALUPE E $46,000.00 N
600124518 NGAN,MAN KWONG $154,545.00 N
600124519 NGUYEN,HAI TAN $58,500.00 N
600124520 TROUSDALE III,BENJAMIN F $45,000.00 N
600124521 VUNCANNON,WILLIAM WADE $80,000.00 N
600124522 WEST,MORTON S $24,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 57
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124524 CHUAN HUANG,JENNY SHIH 5740 REPS TRACE NORCROSS GA 30071 $73,641.14
600124525 MEINE,KIM M 11951 EAST OHIO AVE. AURORA CO 80012 $89,099.51
600124526 GINGERICH,GRANT BARCLAY 3327 WEST HAYWARD PLACE DENVER CO 80211 $64,209.74
600124528 TROUTMAN,MING 13778 WEST ASBURY CIRCLE LAKEWOOD CO 80228 $79,520.54
600124530 LIM,HOO IG 2325 WEST HYACINTH ROAD HIGHLANDS RANCH CO 80126 $127,123.31
600124533 GIBSON,MICHAEL GLEN 2411 GORDON ROAD HIGH POINT NC 27265 $84,246.09
600124534 KELLEY,RONALD D 3714 NORTH LUEWAN DRIVE INDIANAPOLIS IN 46236 $56,600.00
600124535 MAZZAFERRO,THOMAS J 2215 BRIARCLIFF AVE BOOTHWYN PA 19061 $106,876.24
600124536 OSTROM,PAMELA S 257 NORTH MAIN STREET MT. GILEAD OH 43338 $67,099.87
600124537 GERRISH,JUSTIN NASH 542 MAIN ST. NEW CASTLE CO 81647 $55,736.66
600124538 ARMATO,GIUSEPPI A 762 1/2 STATE STREET BINGHAMTON NY 13901 $46,667.78
600124540 CRIST,GIORGIANNA 1951 N. 64TH STREET #37 MESA AZ 85205 $75,356.26
600124542 KILROY,JOHN H 106 N CHURCH ST SHEPHERDSTOWN WV 25443 $77,769.55
600124543 LAFORGE,RAYMOND F 605 EASTSIDE ST NE OLYMPIA WA 98506 $198,801.35
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124524 CHUAN HUANG,JENNY SHIH 7.250 .250 7.000 .0500 6.950 11/01/2012
600124525 MEINE,KIM M 7.875 .250 7.625 .0500 7.575 11/01/2012
600124526 GINGERICH,GRANT BARCLAY 7.750 .250 7.500 .0500 7.450 12/01/2012
600124528 TROUTMAN,MING 7.625 .250 7.375 .0500 7.325 11/01/2012
600124530 LIM,HOO IG 7.750 .250 7.500 .0500 7.450 12/01/2012
600124533 GIBSON,MICHAEL GLEN 7.625 .250 7.375 .0500 7.325 12/01/2012
600124534 KELLEY,RONALD D 7.875 .250 7.625 .0500 7.575 01/01/2013
600124535 MAZZAFERRO,THOMAS J 7.500 .250 7.250 .0500 7.200 12/01/2012
600124536 OSTROM,PAMELA S 7.750 .250 7.500 .0500 7.450 11/01/2012
600124537 GERRISH,JUSTIN NASH 7.875 .250 7.625 .0500 7.575 12/01/2012
600124538 ARMATO,GIUSEPPI A 7.500 .250 7.250 .0500 7.200 11/01/2007
600124540 CRIST,GIORGIANNA 6.750 .250 6.500 .0500 6.450 12/01/2012
600124542 KILROY,JOHN H 7.750 .250 7.500 .0500 7.450 12/01/2012
600124543 LAFORGE,RAYMOND F 7.625 .250 7.375 .0500 7.325 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>
600124524 CHUAN HUANG,JENNY SHIH 2935034 $676.43 01/01/1998 180
600124525 MEINE,KIM M 2936130 $850.05 01/01/1998 180
600124526 GINGERICH,GRANT BARCLAY 2936307 $606.18 01/01/1998 180
600124528 TROUTMAN,MING 2940004 $747.30 01/01/1998 180
600124530 LIM,HOO IG 2941656 $1,200.13 01/01/1998 180
600124533 GIBSON,MICHAEL GLEN 2969343 $794.01 01/01/1998 180
600124534 KELLEY,RONALD D 2971408 $536.82 01/01/1998 180
600124535 MAZZAFERRO,THOMAS J 2975895 $993.76 01/01/1998 180
600124536 OSTROM,PAMELA S 2995765 $635.36 01/01/1998 180
600124537 GERRISH,JUSTIN NASH 2999584 $530.18 01/01/1998 180
600124538 ARMATO,GIUSEPPI A 4365069 $560.28 01/01/1998 120
600124540 CRIST,GIORGIANNA 4391896 $668.99 7 01/01/1998 180
600124542 KILROY,JOHN H 4536449 $734.20 01/01/1998 180
600124543 LAFORGE,RAYMOND F 4539024 $1,868.26 01/01/1998 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>
600124524 CHUAN HUANG,JENNY SHIH $98,800.00 N
600124525 MEINE,KIM M $119,500.00 N
600124526 GINGERICH,GRANT BARCLAY $92,000.00 N
600124528 TROUTMAN,MING $139,450.00 N
600124530 LIM,HOO IG $170,000.00 N
600124533 GIBSON,MICHAEL GLEN $216,000.00 N
600124534 KELLEY,RONALD D $76,500.00 N
600124535 MAZZAFERRO,THOMAS J $145,000.00 N
600124536 OSTROM,PAMELA S $95,000.00 N
600124537 GERRISH,JUSTIN NASH $88,000.00 N
600124538 ARMATO,GIUSEPPI A $59,000.00 N
600124540 CRIST,GIORGIANNA $84,000.00 N
600124542 KILROY,JOHN H $120,000.00 N
600124543 LAFORGE,RAYMOND F $250,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 58
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124544 LEUNG,LOK-KIN 20850 STARSHINE RD DIAMOND BAR CA 91789 $212,731.42
600124545 HENSHAW,NELSON GENE 4400 WOODSTREAM DRIVE PETERSBURG VA 23803 $66,307.82
600124546 LIPTROT,MICHAEL S 1003 EAST 4775 SOUTH OGDEN UT 84403 $196,098.79
600124548 LYONS,DANIEL P. 61945 KNIGHTHAWK ROAD MONTROSE CO 81401 $99,701.29
600124549 LOUIE,PATRICIA 9316 PALMERSON DRIVE ANTELOPE CA 95843 $110,176.42
600124552 LAWS,REGINALD 6749 TOWNE LANE ROAD MCLEAN VA 22101 $196,000.00
600124553 MARS,JOHN E 8925 EAST 86TH STREET TULSA OK 74133 $53,835.12
600124555 LYNN,CRAIG W 6822 COLONY POINTE SOUTH INDIANAPOLIS IA 46250 $71,772.50
600124556 MEACHUM,DARRELL T 2606 HIGHGATE DR ARLINGTON TX 76016 $65,408.32
600124557 MEACHUM,DARRELL T 4005 FIRETHORN DRIVE ARLINGTON TX 76017 $60,073.95
600124558 SABEL,KRIS 1820 KIVA RD SANTA FE NM 87501 $72,974.22
600124559 STEVENSON,MARK C 8340 ASCENSION LN PILOT HILL CA 95669 $55,664.38
600124561 BOARD,LARRY 702 ELM STREET WEST POINT KY 40177 $31,125.00
600124562 THOMPSON,BARBARA L 71 LARUE PLACE ATLANTA GA 30327 $143,914.05
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124544 LEUNG,LOK-KIN 7.750 .250 7.500 .0500 7.450 11/01/2012
600124545 HENSHAW,NELSON GENE 8.000 .250 7.750 .0500 7.700 12/01/2012
600124546 LIPTROT,MICHAEL S 7.250 .250 7.000 .0500 6.950 10/01/2012
600124548 LYONS,DANIEL P. 7.625 .250 7.375 .0500 7.325 12/01/2012
600124549 LOUIE,PATRICIA 7.625 .250 7.375 .0500 7.325 10/01/2012
600124552 LAWS,REGINALD 7.250 .250 7.000 .0500 6.950 01/01/2013
600124553 MARS,JOHN E 7.375 .250 7.125 .0500 7.075 12/01/2012
600124555 LYNN,CRAIG W 7.875 .250 7.625 .0500 7.575 12/01/2012
600124556 MEACHUM,DARRELL T 7.875 .250 7.625 .0500 7.575 12/01/2012
600124557 MEACHUM,DARRELL T 7.875 .250 7.625 .0500 7.575 12/01/2012
600124558 SABEL,KRIS 7.625 .250 7.375 .0500 7.325 11/01/2012
600124559 STEVENSON,MARK C 7.625 .250 7.375 .0500 7.325 11/01/2012
600124561 BOARD,LARRY 8.000 .250 7.750 .0500 7.700 01/01/2013
600124562 THOMPSON,BARBARA L 7.500 .250 7.250 .0500 7.200 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124544 LEUNG,LOK-KIN 4553751 $2,014.33 01/01/1998 180
600124545 HENSHAW,NELSON GENE 4565646 $635.51 01/01/1998 180
600124546 LIPTROT,MICHAEL S 4600105 $1,807.47 7 01/01/1998 180
600124548 LYONS,DANIEL P. 4648555 $934.13 01/01/1998 180
600124549 LOUIE,PATRICIA 4661495 $1,039.50 01/01/1998 180
600124552 LAWS,REGINALD 4686643 $1,789.22 01/01/1998 180
600124553 MARS,JOHN E 4694807 $496.76 01/01/1998 180
600124555 LYNN,CRAIG W 4721727 $682.88 01/01/1998 180
600124556 MEACHUM,DARRELL T 4757763 $622.18 01/01/1998 180
600124557 MEACHUM,DARRELL T 4764762 $571.44 01/01/1998 180
600124558 SABEL,KRIS 4767499 $686.59 01/01/1998 180
600124559 STEVENSON,MARK C 4767554 $523.11 01/01/1998 180
600124561 BOARD,LARRY 4793127 $297.45 01/01/1998 180
600124562 THOMPSON,BARBARA L 5005162 $1,338.14 01/01/1998 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>
600124544 LEUNG,LOK-KIN $267,500.00 N
600124545 HENSHAW,NELSON GENE $95,000.00 N
600124546 LIPTROT,MICHAEL S $220,000.00 N
600124548 LYONS,DANIEL P. $265,000.00 N
600124549 LOUIE,PATRICIA $139,100.00 N
600124552 LAWS,REGINALD $255,000.00 N
600124553 MARS,JOHN E $98,000.00 N
600124555 LYNN,CRAIG W $96,000.00 N
600124556 MEACHUM,DARRELL T $82,000.00 N
600124557 MEACHUM,DARRELL T $75,350.00 N
600124558 SABEL,KRIS $122,000.00 N
600124559 STEVENSON,MARK C $150,000.00 N
600124561 BOARD,LARRY $41,500.00 N
600124562 THOMPSON,BARBARA L $192,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 59
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124563 DALATI,BELAL 1250 SOUTH BROOKHURST ST. ANAHEIM CA 92804 $31,406.94
600124564 CRAVENS,JAN M 533 SPRING LAKES BLVD BRADENTON FL 34210 $30,000.00
600124565 CARTER,DARSE JUNO 2939 NURICK DRIVE CHATTANOOGA TN 37415 $40,000.00
600124566 MICKLES,RUDOLPH A 123 LAPIERRE AVENUE BOROUGH OF MAGN NJ 08049 $34,046.71
600124567 SEAMON,HENRY 4503 FREDERICK AVE BALTIMORE MD 21229 $39,882.81
600124568 YOUNGBIRD,MARILYN 1001 HITCHRACK ROAD BAILEY CO 80421 $207,997.17
600124569 KAMAKIAM,VATCHE AVAK 1368 RUBERTA AVENUE GLENDALE CA 91201 $213,075.63
600124570 NOORBAKHSH,MAHDOKHT 25181 BARENTS STREET LAGUNA HILLS CA 92653 $139,577.18
600124571 EARNEST,JAMES BYTHEL 103 DOGWOOD DRIVE DECATUR AL 35603 $117,000.00
600124572 LEON,THOMAS B 2159 CLINTON STREET ALAMEDA CA 94501 $206,547.09
600124573 KEENER,MICHAEL ALLE 2221 FULGHAM ROAD VISALIA CA 93291 $54,835.71
600124574 CHEATHAM,GAYLORD L 7885/87 WEST 79TH STREET OVERLAND PARK KS 75214 $109,900.00
600124575 LANE,DAVID W 24 ELLIS AVE WHITMAN MA 02382 $89,050.00
600124576 FINNEGAN,III,JOHN M 405 EALY STREET NEW ALBANY IN 47150 $50,262.24
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124563 DALATI,BELAL 7.750 .250 7.500 .0500 7.450 12/01/2012
600124564 CRAVENS,JAN M 7.750 .250 7.500 .0500 7.450 01/01/2013
600124565 CARTER,DARSE JUNO 6.875 .250 6.625 .0500 6.575 01/01/2013
600124566 MICKLES,RUDOLPH A 7.500 .250 7.250 .0500 7.200 12/01/2012
600124567 SEAMON,HENRY 7.750 .250 7.500 .0500 7.450 12/01/2012
600124568 YOUNGBIRD,MARILYN 8.000 .250 7.750 .0500 7.700 12/01/2012
600124569 KAMAKIAM,VATCHE AVAK 7.000 .250 6.750 .0500 6.700 12/01/2012
600124570 NOORBAKHSH,MAHDOKHT 7.500 .250 7.250 .0500 7.200 12/01/2012
600124571 EARNEST,JAMES BYTHEL 7.750 .250 7.500 .0500 7.450 01/01/2013
600124572 LEON,THOMAS B 7.375 .250 7.125 .0500 7.075 12/01/2012
600124573 KEENER,MICHAEL ALLE 7.625 .250 7.375 .0500 7.325 12/01/2012
600124574 CHEATHAM,GAYLORD L 7.375 .250 7.125 .0500 7.075 01/01/2013
600124575 LANE,DAVID W 8.500 .250 8.250 .0500 8.200 01/01/2013
600124576 FINNEGAN,III,JOHN M 8.625 .250 8.375 .0500 8.325 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124563 DALATI,BELAL 5008140 $296.50 01/01/1998 180
600124564 CRAVENS,JAN M 5034895 $282.38 01/01/1998 180
600124565 CARTER,DARSE JUNO 5035666 $356.74 01/01/1998 180
600124566 MICKLES,RUDOLPH A 5053257 $317.04 19 01/01/1998 180
600124567 SEAMON,HENRY 5054124 $376.52 01/01/1998 180
600124568 YOUNGBIRD,MARILYN 5055182 $1,993.49 01/01/1998 180
600124569 KAMAKIAM,VATCHE AVAK 5055754 $1,921.25 01/01/1998 180
600124570 NOORBAKHSH,MAHDOKHT 5060537 $1,297.82 01/01/1998 180
600124571 EARNEST,JAMES BYTHEL 5070421 $1,101.29 18 01/01/1998 180
600124572 LEON,THOMAS B 5081631 $1,906.82 01/01/1998 180
600124573 KEENER,MICHAEL ALLE 5084242 $513.77 01/01/1998 180
600124574 CHEATHAM,GAYLORD L 5101704 $1,011.00 01/01/1998 180
600124575 LANE,DAVID W 5110901 $876.91 01/01/1998 180
600124576 FINNEGAN,III,JOHN M 5124310 $500.01 2 01/01/1998 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>
600124563 DALATI,BELAL $45,000.00 N
600124564 CRAVENS,JAN M $62,000.00 N
600124565 CARTER,DARSE JUNO $134,000.00 N
600124566 MICKLES,RUDOLPH A $38,000.00 N
600124567 SEAMON,HENRY $92,600.00 N
600124568 YOUNGBIRD,MARILYN $334,000.00 N
600124569 KAMAKIAM,VATCHE AVAK $285,000.00 N
600124570 NOORBAKHSH,MAHDOKHT $265,000.00 N
600124571 EARNEST,JAMES BYTHEL $137,000.00 N
600124572 LEON,THOMAS B $259,100.00 N
600124573 KEENER,MICHAEL ALLE $130,000.00 N
600124574 CHEATHAM,GAYLORD L $157,000.00 N
600124575 LANE,DAVID W $137,000.00 N
600124576 FINNEGAN,III,JOHN M $56,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 60
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124577 MCDERMOTT,JOHN 1111 SOUTH HANCOCK STREET LOUISVILLE KY 40203 $22,933.53
600124579 ZAHRA,AHMAD S 355 THORNTON PLACE MOBILE AL 36609 $63,561.66
600124580 FLYNN,JR,JOHN J 11859 SILICON AVENUE CHINO CA 91710 $204,000.00
600124582 LIN,LOUIE F 5787 CARIBBEAN CIRCLE STOCKTON CA 95210 $85,227.30
600124583 GRIFFIN,CHARLES HOWA 8458 BLANKENSHIP DRIVE HOUSTON TX 77080 $36,800.00
600124584 CARLSON,FRANK E 10722 SANDPIPER DRIVE HOUSTON TX 77096 $39,150.00
600124585 KIMBALL,ROBERT H 12719 ASHFORD MEADOW DRIV HOUSTON TX 77082 $45,000.00
600124587 CASE,JR,JOHN A 236 POLK STREET ROCK SPRINGS WY 82901 $109,265.10
600124588 HYATT,ROBERT M 3757 CAPE POINT CIRCLE JUPITER FL 33477 $69,786.26
600124589 CIMINO,SALVATORE J 18211 SOUTH 181ST CIRCLE BOCA RATON FL 33498 $113,068.65
600124590 LASH,JAMES E 3360 AMBERJACK ROAD LANTANA FL 33462 $70,500.00
600124591 SHEETS,RODNEY JOSEP 14280 GEORGE ROUYEA RD GONZALES LA 70737 $75,000.00
600124592 PHAN,NHAN 3925 NORWOOD CHALMETTE LA 70043 $69,788.59
600124593 DANG,MYHUONG T 1841 ELDRIDGE AVENUE WEST ROSEVILLE MN 55113 $184,235.73
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124577 MCDERMOTT,JOHN 8.000 .250 7.750 .0500 7.700 12/01/2012
600124579 ZAHRA,AHMAD S 7.750 .250 7.500 .0500 7.450 12/01/2012
600124580 FLYNN,JR,JOHN J 7.375 .250 7.125 .0500 7.075 01/01/2013
600124582 LIN,LOUIE F 6.875 .250 6.625 .0500 6.575 12/01/2012
600124583 GRIFFIN,CHARLES HOWA 7.500 .250 7.250 .0500 7.200 01/01/2013
600124584 CARLSON,FRANK E 7.875 .250 7.625 .0500 7.575 01/01/2013
600124585 KIMBALL,ROBERT H 7.375 .250 7.125 .0500 7.075 01/01/2013
600124587 CASE,JR,JOHN A 7.500 .250 7.250 .0500 7.200 12/01/2012
600124588 HYATT,ROBERT M 7.375 .250 7.125 .0500 7.075 12/01/2012
600124589 CIMINO,SALVATORE J 7.875 .250 7.625 .0500 7.575 12/01/2012
600124590 LASH,JAMES E 7.750 .250 7.500 .0500 7.450 01/01/2013
600124591 SHEETS,RODNEY JOSEP 7.250 .250 7.000 .0500 6.950 01/01/2013
600124592 PHAN,NHAN 7.500 .250 7.250 .0500 7.200 12/01/2012
600124593 DANG,MYHUONG T 7.375 .250 7.125 .0500 7.075 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124577 MCDERMOTT,JOHN 5124424 $219.80 01/01/1998 180
600124579 ZAHRA,AHMAD S 5128912 $600.06 2 01/01/1998 180
600124580 FLYNN,JR,JOHN J 5131537 $1,876.64 01/01/1998 180
600124582 LIN,LOUIE F 5140416 $762.54 01/01/1998 180
600124583 GRIFFIN,CHARLES HOWA 5142680 $341.14 01/01/1998 180
600124584 CARLSON,FRANK E 5142765 $371.32 3 01/01/1998 180
600124585 KIMBALL,ROBERT H 5142894 $413.97 01/01/1998 180
600124587 CASE,JR,JOHN A 5152637 $1,016.47 7 01/01/1998 180
600124588 HYATT,ROBERT M 5153176 $643.95 01/01/1998 180
600124589 CIMINO,SALVATORE J 5153318 $1,075.54 01/01/1998 180
600124590 LASH,JAMES E 5155098 $663.60 01/01/1998 180
600124591 SHEETS,RODNEY JOSEP 5157313 $684.65 01/01/1998 180
600124592 PHAN,NHAN 5157483 $648.91 01/01/1998 180
600124593 DANG,MYHUONG T 5159107 $1,700.02 01/01/1998 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>
600124577 MCDERMOTT,JOHN $68,000.00 N
600124579 ZAHRA,AHMAD S $75,000.00 N
600124580 FLYNN,JR,JOHN J $255,000.00 N
600124582 LIN,LOUIE F $114,000.00 N
600124583 GRIFFIN,CHARLES HOWA $53,000.00 N
600124584 CARLSON,FRANK E $43,500.00 N
600124585 KIMBALL,ROBERT H $65,000.00 N
600124587 CASE,JR,JOHN A $130,000.00 N
600124588 HYATT,ROBERT M $125,000.00 N
600124589 CIMINO,SALVATORE J $162,000.00 N
600124590 LASH,JAMES E $94,000.00 N
600124591 SHEETS,RODNEY JOSEP $185,000.00 N
600124592 PHAN,NHAN $109,000.00 N
600124593 DANG,MYHUONG T $231,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 61
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124594 PINA,JOSE A 3437 W 60TH PLACE CHICAGO IL 60629 $82,000.00
600124595 SANCHEZ,RAUL 1719 NORTH LINCOLN STREET NORTH CHICAGO IL 60064 $112,673.44
600124596 RAMOS,EDUARDO 4871 SW 6TH ST MIAMI FL 33134 $85,000.00
600124597 YUI,KUNIJI 446 HIGHLAND AVENUE SAN MATEO CA 94401 $125,000.00
600124599 MILANESI,ANTONIO 5095 CRESTWOOD DRIVE PENSACOLA FL 32503 $37,397.50
600124601 KAUFFMANN III,PAUL J 3818 WHIRLAWAY LANE CHINO HILLS CA 91709 $100,000.00
600124602 ROBERTS,LEANNA 3250 RAWSON STREET IDAHO FALLS ID 83406 $38,000.00
600124603 VAIL,MARGARET IVY 4103 LONE OAK ROAD NASHVILLE TN 37215 $78,435.03
600124604 HOSKINS,PHILLIP 182 GRAND VIEW DIRVE MAYNARDVILLE TN 37807 $61,200.00
600124605 LIN,YAU TANG 6840 FRANTZ DRIVE NE ALBUQUERQUE NM 87109 $91,968.32
600124606 LIN,YAU TANG 8412 SAN FRANCISCO RD NE ALBUQUERQUE NM 87109 $97,202.28
600124607 LIN,YAU TANG 10412 MALAGUENA LANE NE ALBUQUERQUE NM 87111 $92,716.03
600124608 SHERIDAN,JOHN F 6508 LOUISE PLACE NE ALBUQUERQUE NM 87109 $54,200.00
600124609 AL-QASEM,ABDALLA 4106 COTTONWOOD DRIVE DURHAM NC 27705 $183,854.37
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124594 PINA,JOSE A 7.000 .250 6.750 .0500 6.700 02/01/2013
600124595 SANCHEZ,RAUL 8.000 .250 7.750 .0500 7.700 12/01/2012
600124596 RAMOS,EDUARDO 7.875 .250 7.625 .0500 7.575 01/01/2013
600124597 YUI,KUNIJI 7.375 .250 7.125 .0500 7.075 01/01/2013
600124599 MILANESI,ANTONIO 8.625 .250 8.375 .0500 8.325 12/01/2012
600124601 KAUFFMANN III,PAUL J 7.375 .250 7.125 .0500 7.075 01/01/2013
600124602 ROBERTS,LEANNA 7.625 .250 7.375 .0500 7.325 01/01/2013
600124603 VAIL,MARGARET IVY 7.875 .250 7.625 .0500 7.575 11/01/2012
600124604 HOSKINS,PHILLIP 7.375 .250 7.125 .0500 7.075 01/01/2013
600124605 LIN,YAU TANG 7.375 .250 7.125 .0500 7.075 12/01/2012
600124606 LIN,YAU TANG 7.375 .250 7.125 .0500 7.075 12/01/2012
600124607 LIN,YAU TANG 7.375 .250 7.125 .0500 7.075 12/01/2012
600124608 SHERIDAN,JOHN F 7.625 .250 7.375 .0500 7.325 01/01/2013
600124609 AL-QASEM,ABDALLA 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>
600124594 PINA,JOSE A 5160577 $737.04 02/01/1998 180
600124595 SANCHEZ,RAUL 5162372 $1,079.89 01/01/1998 180
600124596 RAMOS,EDUARDO 5165675 $806.18 01/01/1998 180
600124597 YUI,KUNIJI 5174870 $1,149.90 01/01/1998 180
600124599 MILANESI,ANTONIO 5177017 $372.03 01/01/1998 180
600124601 KAUFFMANN III,PAUL J 5180568 $919.92 01/01/1998 180
600124602 ROBERTS,LEANNA 5182130 $354.97 01/01/1998 180
600124603 VAIL,MARGARET IVY 5183530 $749.28 01/01/1998 180
600124604 HOSKINS,PHILLIP 5185025 $562.99 7 01/01/1998 180
600124605 LIN,YAU TANG 5186725 $848.63 01/01/1998 180
600124606 LIN,YAU TANG 5186742 $896.93 01/01/1998 180
600124607 LIN,YAU TANG 5186768 $855.53 01/01/1998 180
600124608 SHERIDAN,JOHN F 5187006 $506.30 01/01/1998 180
600124609 AL-QASEM,ABDALLA 5187867 $1,688.80 01/01/1998 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>
600124594 PINA,JOSE A $120,000.00 N
600124595 SANCHEZ,RAUL $146,000.00 N
600124596 RAMOS,EDUARDO $120,000.00 N
600124597 YUI,KUNIJI $240,000.00 N
600124599 MILANESI,ANTONIO $50,000.00 N
600124601 KAUFFMANN III,PAUL J $190,000.00 N
600124602 ROBERTS,LEANNA $109,700.00 N
600124603 VAIL,MARGARET IVY $145,000.00 N
600124604 HOSKINS,PHILLIP $73,000.00 N
600124605 LIN,YAU TANG $123,000.00 N
600124606 LIN,YAU TANG $132,000.00 N
600124607 LIN,YAU TANG $124,000.00 N
600124608 SHERIDAN,JOHN F $136,000.00 N
600124609 AL-QASEM,ABDALLA $275,189.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 62
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124610 SCHAFFER,VERNON M 207 SOUTH ELM STREET SOUTH MILLS NC 27976 $45,306.61
600124611 LOMENZO,DANIEL E 5282 WELLS CURTICE RD CANANDAIGUA NY 14424 $109,675.02
600124612 WELLS,ROBERT W 22 MOWLER COURT CHARLESTON SC 29414 $89,317.32
600124613 PAGE,TINA C 5640 SATCHELFORD RD COLUMBIA SC 29206 $95,193.82
600124614 WHITE,CYNTHIA W 4F HOLLYWOODS LANE SIMPSONVILLE SC 29681 $67,792.37
600124615 KING,FREDDY E 16242 S.W. 281ST STREET MIAMI FL 33033 $98,642.27
600124616 BOTNER,JOEL 19379 NW 54 COURT MIAMI FL 33055 $53,840.46
600124617 BOTNER,JOEL 19316 NW 53 PLACE MIAMI FL 33055 $48,605.97
600124618 BOTNER,JOEL 5573 N.W. 194TH LANE MIAMI FL 33055 $53,840.46
600124619 BOTNER,JOEL 5669 NW 195 TERRACE MIAMI FL 33055 $48,605.97
600124620 VILLAVICENCIO,MARITZA 3480 TORREMOLINOS AVE #A- MIAMI FL 33178 $97,500.00
600124621 DE LA PENA,RICARDO G 10202 S.W. 21ST TERRACE MIAMI FL 33165 $41,873.04
600124623 COSTANZA,MARIE A 342 TOURA DRIVE PITTSBURGH PA 15236 $80,731.30
600124624 HEINTZINGER,ROBERT G 228 IRWIN AVENUE PITTSBURGH PA 15202 $68,043.87
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124610 SCHAFFER,VERNON M 7.000 .250 6.750 .0500 6.700 12/01/2012
600124611 LOMENZO,DANIEL E 7.750 .250 7.500 .0500 7.450 12/01/2012
600124612 WELLS,ROBERT W 7.000 .250 6.750 .0500 6.700 12/01/2012
600124613 PAGE,TINA C 6.875 .250 6.625 .0500 6.575 12/01/2012
600124614 WHITE,CYNTHIA W 7.375 .250 7.125 .0500 7.075 12/01/2012
600124615 KING,FREDDY E 7.625 .250 7.375 .0500 7.325 12/01/2012
600124616 BOTNER,JOEL 7.750 .250 7.500 .0500 7.450 12/01/2012
600124617 BOTNER,JOEL 7.750 .250 7.500 .0500 7.450 12/01/2012
600124618 BOTNER,JOEL 7.750 .250 7.500 .0500 7.450 12/01/2012
600124619 BOTNER,JOEL 7.750 .250 7.500 .0500 7.450 12/01/2012
600124620 VILLAVICENCIO,MARITZA 7.750 .250 7.500 .0500 7.450 01/01/2013
600124621 DE LA PENA,RICARDO G 7.500 .250 7.250 .0500 7.200 12/01/2012
600124623 COSTANZA,MARIE A 8.250 .250 8.000 .0500 7.950 12/01/2012
600124624 HEINTZINGER,ROBERT G 7.500 .250 7.250 .0500 7.200 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124610 SCHAFFER,VERNON M 5190110 $408.52 2 01/01/1998 180
600124611 LOMENZO,DANIEL E 5190458 $1,035.40 01/01/1998 180
600124612 WELLS,ROBERT W 5204637 $805.35 01/01/1998 180
600124613 PAGE,TINA C 5204674 $856.18 01/01/1998 180
600124614 WHITE,CYNTHIA W 5205151 $625.55 01/01/1998 180
600124615 KING,FREDDY E 5206828 $924.79 01/01/1998 180
600124616 BOTNER,JOEL 5206866 $508.29 01/01/1998 180
600124617 BOTNER,JOEL 5206885 $458.87 01/01/1998 180
600124618 BOTNER,JOEL 5206894 $508.29 01/01/1998 180
600124619 BOTNER,JOEL 5206903 $458.87 01/01/1998 180
600124620 VILLAVICENCIO,MARITZA 5208124 $917.74 01/01/1998 180
600124621 DE LA PENA,RICARDO G 5208218 $389.35 01/01/1998 180
600124623 COSTANZA,MARIE A 5215361 $785.81 01/01/1998 180
600124624 HEINTZINGER,ROBERT G 5215549 $632.69 01/01/1998 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>
600124610 SCHAFFER,VERNON M $50,500.00 N
600124611 LOMENZO,DANIEL E $220,000.00 N
600124612 WELLS,ROBERT W $112,000.00 N
600124613 PAGE,TINA C $120,000.00 N
600124614 WHITE,CYNTHIA W $110,000.00 N
600124615 KING,FREDDY E $141,000.00 N
600124616 BOTNER,JOEL $75,000.00 N
600124617 BOTNER,JOEL $67,000.00 N
600124618 BOTNER,JOEL $75,000.00 N
600124619 BOTNER,JOEL $67,000.00 N
600124620 VILLAVICENCIO,MARITZA $130,000.00 N
600124621 DE LA PENA,RICARDO G $80,000.00 N
600124623 COSTANZA,MARIE A $118,000.00 N
600124624 HEINTZINGER,ROBERT G $91,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 63
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124625 ANDERSON,RICHARD A 4511 HOPEWELL HEIGHTS ROA ALIQUIPPA PA 15001 $112,812.01
600124627 EASTMAN,WILLIAM L 5245 W. SUNSET ROAD TUCSON AZ 85743 $100,246.33
600124629 WILSON,STEPHEN CARL 800 SW 134TH OKLAHOMA CITY OK 73170 $112,156.50
600124630 HINTON,ELIZABETH H 294 CONNIE LYNN DR MONROE LA 71203 $120,000.00
600124631 SEAGRAVES,TERENCE C RT. 1 BOX 413-A HULL HULL GA GA 30646 $114,648.86
600124632 BHARDWAJ,SUBHASH 1381 COUNTRY DOWNS DR NORCROSS GA 30093 $64,404.90
600124634 SZABO,BELA 16279 CONESTOGA ROAD MIDDLETOWN CA 95461 $70,000.00
600124635 SUDLOW,SARA WESTON 229 MICHELE CIRCLE NOVATO CA 94947 $165,000.00
600124636 SULLIVAN,JOHN P 1369 TROY AVENUE SPRING HILL FL 34606 $34,899.49
600124637 CORCILLO,ALPHONSE C 1274 SILVERSTRAND DRIVE NAPLES FL 34110 $80,763.32
600124639 HENITS,ENIKO 335 WEST GREYSTONE ROAD OLD BRIDGE NJ 08057 $202,000.00
600124640 CHIANG,YANN-TONG 250 ALEXANDRIA WAY BERNARDS TOWNSH NJ 07920 $150,000.00
600124641 BLISS,CONNIE JEAN 2106 SHERIDAN ROAD EVANSVILLE IN 47720 $50,843.86
600124642 MEEKS,MICHAEL J 219 EAST LOUISIANA STREET EVANSVILLE IN 47711 $22,882.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124625 ANDERSON,RICHARD A 7.875 .250 7.625 .0500 7.575 12/01/2012
600124627 EASTMAN,WILLIAM L 7.500 .250 7.250 .0500 7.200 12/01/2012
600124629 WILSON,STEPHEN CARL 7.375 .250 7.125 .0500 7.075 12/01/2012
600124630 HINTON,ELIZABETH H 7.500 .250 7.250 .0500 7.200 01/01/2013
600124631 SEAGRAVES,TERENCE C 7.375 .250 7.125 .0500 7.075 12/01/2012
600124632 BHARDWAJ,SUBHASH 7.500 .250 7.250 .0500 7.200 12/01/2012
600124634 SZABO,BELA 7.250 .250 7.000 .0500 6.950 01/01/2013
600124635 SUDLOW,SARA WESTON 7.250 .250 7.000 .0500 6.950 01/01/2013
600124636 SULLIVAN,JOHN P 8.375 .250 8.125 .0500 8.075 12/01/2012
600124637 CORCILLO,ALPHONSE C 7.875 .250 7.625 .0500 7.575 12/01/2012
600124639 HENITS,ENIKO 7.875 .250 7.625 .0500 7.575 01/01/2013
600124640 CHIANG,YANN-TONG 7.875 .250 7.625 .0500 7.575 01/01/2013
600124641 BLISS,CONNIE JEAN 7.500 .250 7.250 .0500 7.200 12/01/2012
600124642 MEEKS,MICHAEL J 7.875 .250 7.625 .0500 7.575 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124625 ANDERSON,RICHARD A 5215849 $1,074.12 01/01/1998 180
600124627 EASTMAN,WILLIAM L 5239822 $932.11 01/01/1998 180
600124629 WILSON,STEPHEN CARL 5246198 $1,034.91 2 01/01/1998 180
600124630 HINTON,ELIZABETH H 5249451 $1,112.41 01/01/1998 180
600124631 SEAGRAVES,TERENCE C 5250689 $1,057.91 01/01/1998 180
600124632 BHARDWAJ,SUBHASH 5263499 $598.85 01/01/1998 180
600124634 SZABO,BELA 5272917 $639.00 01/01/1998 180
600124635 SUDLOW,SARA WESTON 5273752 $1,506.22 01/01/1998 180
600124636 SULLIVAN,JOHN P 5274765 $342.10 01/01/1998 180
600124637 CORCILLO,ALPHONSE C 5276790 $768.24 01/01/1998 180
600124639 HENITS,ENIKO 5278500 $1,915.87 01/01/1998 180
600124640 CHIANG,YANN-TONG 5279082 $1,422.67 01/01/1998 180
600124641 BLISS,CONNIE JEAN 5280096 $472.78 19 01/01/1998 180
600124642 MEEKS,MICHAEL J 5280265 $217.67 19 01/01/1998 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>
600124625 ANDERSON,RICHARD A $151,000.00 N
600124627 EASTMAN,WILLIAM L $275,000.00 N
600124629 WILSON,STEPHEN CARL $125,000.00 N
600124630 HINTON,ELIZABETH H $160,000.00 N
600124631 SEAGRAVES,TERENCE C $175,000.00 N
600124632 BHARDWAJ,SUBHASH $90,000.00 N
600124634 SZABO,BELA $165,000.00 N
600124635 SUDLOW,SARA WESTON $285,000.00 N
600124636 SULLIVAN,JOHN P $49,500.00 N
600124637 CORCILLO,ALPHONSE C $228,000.00 N
600124639 HENITS,ENIKO $268,000.00 N
600124640 CHIANG,YANN-TONG $224,500.00 N
600124641 BLISS,CONNIE JEAN $60,000.00 N
600124642 MEEKS,MICHAEL J $25,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 64
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124644 LEE,JOHN R 12 LAKEVIEW DRIVE EUREKA MO 63025 $160,524.34
600124645 SINNARD,DOUGLAS A 12024 JACOBSON COURT BRIDGETON MO 63044 $161,106.57
600124646 DRESCHEL,RICHARD A 1556-62 TREMONT ROAD COLUMBUS OH 43221 $180,000.00
600124648 HERRIDGE,CATHERINE A 11801 BARRYKNOLL LANE HOUSTON TX 77024 $67,085.61
600124649 GHOSH,RAJESH K 1831 WATERSIDE DRIVE MISSOURI CITY TX 77459 $161,150.00
600124650 BAYNE,HARRY L 1742 PORT O CALL TIKI ISLAND TX 77554 $208,354.83
600124651 SCHEIDT,CHARLES L 4949 JEAN STREET CORPUS CHRISTI TX 78411 $25,522.68
600124652 THAM,HONG ANH 2661 ESCALLONIA WAY CHICO CA 95973 $135,950.00
600124653 ALLEN,STEPHEN S 616 NE 75TH AVENUE PORTLAND OR 97213 $64,806.56
600124654 PENGHSIUNG,HENRY 4123 SE 80TH AVENUE PORTLAND OR 97206 $93,696.31
600124655 VENTRESCO,ROBERT T 811 DIMSON DRIVE EAST WHITEHALL OH 43213 $56,100.00
600124656 BARRON,FRANCISCO A 7100 EAST 69TH AVENUE COMMERCE CITY CO 80022 $76,500.00
600124658 RANSON,REBECCA H 191 HOWARD STREET ATLANTA GA 30317 $56,000.00
600124659 MARTILLA,DONNA M 819 MOSS COURT 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>
600124644 LEE,JOHN R 7.750 .250 7.500 .0500 7.450 12/01/2012
600124645 SINNARD,DOUGLAS A 7.375 .250 7.125 .0500 7.075 12/01/2012
600124646 DRESCHEL,RICHARD A 7.750 .250 7.500 .0500 7.450 01/01/2013
600124648 HERRIDGE,CATHERINE A 7.375 .250 7.125 .0500 7.075 12/01/2012
600124649 GHOSH,RAJESH K 7.375 .250 7.125 .0500 7.075 01/01/2013
600124650 BAYNE,HARRY L 7.250 .250 7.000 .0500 6.950 12/01/2012
600124651 SCHEIDT,CHARLES L 7.500 .250 7.250 .0500 7.200 12/01/2012
600124652 THAM,HONG ANH 7.250 .250 7.000 .0500 6.950 01/01/2013
600124653 ALLEN,STEPHEN S 7.875 .250 7.625 .0500 7.575 12/01/2012
600124654 PENGHSIUNG,HENRY 7.750 .250 7.500 .0500 7.450 12/01/2012
600124655 VENTRESCO,ROBERT T 7.750 .250 7.500 .0500 7.450 01/01/2013
600124656 BARRON,FRANCISCO A 6.875 .250 6.625 .0500 6.575 01/01/2013
600124658 RANSON,REBECCA H 7.250 .250 7.000 .0500 6.950 01/01/2013
600124659 MARTILLA,DONNA M 7.750 .250 7.500 .0500 7.450 01/01/2013
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124644 LEE,JOHN R 5282275 $1,515.45 01/01/1998 180
600124645 SINNARD,DOUGLAS A 5282923 $1,486.60 01/01/1998 180
600124646 DRESCHEL,RICHARD A 5301474 $1,694.30 01/01/1998 180
600124648 HERRIDGE,CATHERINE A 5302644 $629.23 01/01/1998 180
600124649 GHOSH,RAJESH K 5302653 $1,482.46 01/01/1998 180
600124650 BAYNE,HARRY L 5303671 $1,907.88 01/01/1998 180
600124651 SCHEIDT,CHARLES L 5303900 $237.32 01/01/1998 180
600124652 THAM,HONG ANH 5321667 $1,241.04 01/01/1998 180
600124653 ALLEN,STEPHEN S 5323035 $616.49 01/01/1998 180
600124654 PENGHSIUNG,HENRY 5324449 $894.21 01/01/1998 180
600124655 VENTRESCO,ROBERT T 5326473 $528.06 19 01/01/1998 180
600124656 BARRON,FRANCISCO A 5330662 $682.27 01/01/1998 180
600124658 RANSON,REBECCA H 5342139 $511.20 01/01/1998 180
600124659 MARTILLA,DONNA M 5357647 $489.46 01/01/1998 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>
600124644 LEE,JOHN R $230,000.00 N
600124645 SINNARD,DOUGLAS A $202,000.00 N
600124646 DRESCHEL,RICHARD A $225,000.00 N
600124648 HERRIDGE,CATHERINE A $177,000.00 N
600124649 GHOSH,RAJESH K $236,170.00 N
600124650 BAYNE,HARRY L $359,000.00 N
600124651 SCHEIDT,CHARLES L $32,000.00 N
600124652 THAM,HONG ANH $169,950.00 N
600124653 ALLEN,STEPHEN S $113,000.00 N
600124654 PENGHSIUNG,HENRY $131,000.00 N
600124655 VENTRESCO,ROBERT T $66,000.00 N
600124656 BARRON,FRANCISCO A $102,000.00 N
600124658 RANSON,REBECCA H $153,000.00 N
600124659 MARTILLA,DONNA M $135,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 65
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124660 GARCIA,JESSIE V 505 WEST MAGNOLIA STREET OXNARD CA 93030 $75,000.00
600124661 GROFF,GARY W 3944 & 3946 WEST POINT PL BOISE ID 83706 $84,500.00
600124663 HRISCA,DALE B 1884 CONNECTICUT MARYSVILLE MI 48040 $50,143.03
600124664 MADAJSKI,DANIEL KEIT 6044 BOW MEADOWS DRIVE ELIZABETH CO 80107 $82,746.56
600124665 SANCHEZ,MIGUEL A 4588 FIG STREET GOLDEN CO 80403 $144,820.87
600124666 HIBBS,CHARLENE A 128 DAWN DRIVE LANSDALE PA 19446 $89,737.03
600124667 MEO,FRANK 9978 VERREE RD PHILADELPHIA PA 19115 $47,000.00
600124668 CARDELLI,DANIEL JOHN 7013 ASHE LANE WAXHAW NC 28173 $161,998.37
600124669 MILLER,ROBERT R 130 FOX RUN DRIVE FORT MILL SC 29715 $62,807.64
600124670 HARRIS,KENNETH R 2622 KENDALL DRIVE CHARLOTTE NC 28216 $29,163.59
600124671 SNIPES,PHILLIP R 1108-102 CHANDLER DRIVE ROCK HILL SC 29730 $33,750.00
600124672 DELLINGER,DONNIE L 1038 MURRAYS MILL ROAD CATAWBA NC 28609 $119,000.00
600124673 BALL,VINCENT G 25 JAMES HAWKINS ROAD MORICHES NY 11955 $83,757.25
600124675 PSAROUDAKIS,HARALABOS RR 62 BOX 72 LONG POND PA 18334 $157,500.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124660 GARCIA,JESSIE V 7.375 .250 7.125 .0500 7.075 01/01/2013
600124661 GROFF,GARY W 7.250 .250 7.000 .0500 6.950 01/01/2013
600124663 HRISCA,DALE B 7.125 .250 6.875 .0500 6.825 12/01/2012
600124664 MADAJSKI,DANIEL KEIT 7.375 .250 7.125 .0500 7.075 12/01/2012
600124665 SANCHEZ,MIGUEL A 7.750 .250 7.500 .0500 7.450 12/01/2012
600124666 HIBBS,CHARLENE A 7.875 .250 7.625 .0500 7.575 12/01/2012
600124667 MEO,FRANK 7.250 .250 7.000 .0500 6.950 01/01/2013
600124668 CARDELLI,DANIEL JOHN 7.250 .250 7.000 .0500 6.950 12/01/2012
600124669 MILLER,ROBERT R 7.375 .250 7.125 .0500 7.075 12/01/2012
600124670 HARRIS,KENNETH R 7.750 .250 7.500 .0500 7.450 12/01/2012
600124671 SNIPES,PHILLIP R 8.250 .250 8.000 .0500 7.950 01/01/2013
600124672 DELLINGER,DONNIE L 7.250 .250 7.000 .0500 6.950 01/01/2013
600124673 BALL,VINCENT G 8.000 .250 7.750 .0500 7.700 12/01/2012
600124675 PSAROUDAKIS,HARALABOS 8.000 .250 7.750 .0500 7.700 01/01/2013
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124660 GARCIA,JESSIE V 5357914 $689.94 01/01/1998 180
600124661 GROFF,GARY W 5367127 $771.37 01/01/1998 180
600124663 HRISCA,DALE B 5370660 $455.63 01/01/1998 180
600124664 MADAJSKI,DANIEL KEIT 5396951 $763.54 01/01/1998 180
600124665 SANCHEZ,MIGUEL A 5397862 $1,367.20 01/01/1998 180
600124666 HIBBS,CHARLENE A 5400499 $853.60 01/01/1998 180
600124667 MEO,FRANK 5400667 $429.05 01/01/1998 180
600124668 CARDELLI,DANIEL JOHN 5401888 $1,483.40 01/01/1998 180
600124669 MILLER,ROBERT R 5402682 $579.55 01/01/1998 180
600124670 HARRIS,KENNETH R 5403473 $275.32 7 01/01/1998 180
600124671 SNIPES,PHILLIP R 5404050 $327.42 01/01/1998 180
600124672 DELLINGER,DONNIE L 5404243 $1,086.31 7 01/01/1998 180
600124673 BALL,VINCENT G 5404737 $802.75 01/01/1998 180
600124675 PSAROUDAKIS,HARALABOS 5407240 $1,505.15 01/01/1998 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>
600124660 GARCIA,JESSIE V $155,000.00 N
600124661 GROFF,GARY W $130,000.00 N
600124663 HRISCA,DALE B $175,000.00 N
600124664 MADAJSKI,DANIEL KEIT $162,000.00 N
600124665 SANCHEZ,MIGUEL A $207,500.00 N
600124666 HIBBS,CHARLENE A $120,000.00 N
600124667 MEO,FRANK $130,000.00 N
600124668 CARDELLI,DANIEL JOHN $241,000.00 N
600124669 MILLER,ROBERT R $115,000.00 N
600124670 HARRIS,KENNETH R $32,501.00 N
600124671 SNIPES,PHILLIP R $45,000.00 N
600124672 DELLINGER,DONNIE L $137,500.00 N
600124673 BALL,VINCENT G $120,000.00 N
600124675 PSAROUDAKIS,HARALABOS $211,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 66
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124676 SLOSKEY,MICHAEL DAVI RD 2 BOX 1150 NEW ALEXANDRIA PA 15670 $130,000.00
600124677 JONES,DANIEL L 135 TORCASSO WAY INDUSTRY PA 15052 $44,077.83
600124678 GUTEKUNST,ROBERT K 407 W. WAYNE STREET BUTLER PA 16001 $33,750.00
600124679 LONZER,M. DEBORAH 2391 TRAYMORE ROAD UNIVERSITY HEIG OH 44118 $119,653.22
600124680 LINEMAN,GEORGE E 6577 ELMWOOD ROAD MENTOR OH 44060 $113,050.00
600124681 DANCHISEN,ROSE M 2308 DANBURY STATION ROAD PORT CLINTON OH 43452 $89,739.91
600124683 MC CLELLAN,MARY LOUISE 3913 SCOTSMAN WAY NORTH LAS VEGAS NV 89030 $100,000.00
600124684 KUEHNE,JOHN C 2225 SUNNY SLOPE DRIVE MERIDIAN ID 83642 $92,150.00
600124685 JENRETTE,JOHN D 3531 COUNTRY ESTATES DRIV MARIETTA GA 30144 $203,390.63
600124686 ABOUTALEBI,MOHAMMAD H 632 COATS STREET COPPELL TX 75019 $84,546.69
600124687 SAWYER,WILLIAM K 7239 FOSTER-STUART ROAD AZLE TX 76020 $51,383.88
600124688 IMPULLITTI,STEVEN A 1846 MOONBEAM LANE CARROLLTON TX 75006 $53,838.70
600124689 BLACKMARR,EDITH A 3550 COUNTRY SQUARE DRIVE CARROLLTON TX 75006 $35,893.64
600124690 DOAN,TRUNG 5416 PALACE DRIVE RICHARDSON TX 75082 $112,500.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124676 SLOSKEY,MICHAEL DAVI 8.000 .250 7.750 .0500 7.700 01/01/2013
600124677 JONES,DANIEL L 8.500 .250 8.250 .0500 8.200 12/01/2012
600124678 GUTEKUNST,ROBERT K 7.750 .250 7.500 .0500 7.450 01/01/2013
600124679 LONZER,M. DEBORAH 8.000 .250 7.750 .0500 7.700 12/01/2012
600124680 LINEMAN,GEORGE E 7.125 .250 6.875 .0500 6.825 01/01/2013
600124681 DANCHISEN,ROSE M 8.000 .250 7.750 .0500 7.700 12/01/2012
600124683 MC CLELLAN,MARY LOUISE 7.375 .250 7.125 .0500 7.075 01/01/2013
600124684 KUEHNE,JOHN C 7.250 .250 7.000 .0500 6.950 01/01/2013
600124685 JENRETTE,JOHN D 7.625 .250 7.375 .0500 7.325 12/01/2012
600124686 ABOUTALEBI,MOHAMMAD H 7.625 .250 7.375 .0500 7.325 12/01/2012
600124687 SAWYER,WILLIAM K 7.375 .250 7.125 .0500 7.075 12/01/2012
600124688 IMPULLITTI,STEVEN A 7.625 .250 7.375 .0500 7.325 12/01/2012
600124689 BLACKMARR,EDITH A 7.750 .250 7.500 .0500 7.450 12/01/2012
600124690 DOAN,TRUNG 6.875 .250 6.625 .0500 6.575 01/01/2013
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124676 SLOSKEY,MICHAEL DAVI 5407562 $1,242.35 01/01/1998 180
600124677 JONES,DANIEL L 5407595 $435.25 19 01/01/1998 180
600124678 GUTEKUNST,ROBERT K 5407605 $317.68 01/01/1998 180
600124679 LONZER,M. DEBORAH 5422540 $1,146.78 19 01/01/1998 180
600124680 LINEMAN,GEORGE E 5422978 $1,024.04 19 01/01/1998 180
600124681 DANCHISEN,ROSE M 5423159 $860.09 01/01/1998 180
600124683 MC CLELLAN,MARY LOUISE 5427188 $919.92 01/01/1998 180
600124684 KUEHNE,JOHN C 5427359 $841.20 01/01/1998 180
600124685 JENRETTE,JOHN D 5430297 $1,905.62 01/01/1998 180
600124686 ABOUTALEBI,MOHAMMAD H 5432668 $792.14 01/01/1998 180
600124687 SAWYER,WILLIAM K 5432955 $478.36 01/01/1998 180
600124688 IMPULLITTI,STEVEN A 5433340 $504.43 01/01/1998 180
600124689 BLACKMARR,EDITH A 5433870 $338.86 01/01/1998 180
600124690 DOAN,TRUNG 5434422 $1,003.34 01/01/1998 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>
600124676 SLOSKEY,MICHAEL DAVI $252,000.00 N
600124677 JONES,DANIEL L $52,000.00 N
600124678 GUTEKUNST,ROBERT K $45,000.00 N
600124679 LONZER,M. DEBORAH $145,000.00 N
600124680 LINEMAN,GEORGE E $135,000.00 N
600124681 DANCHISEN,ROSE M $120,000.00 N
600124683 MC CLELLAN,MARY LOUISE $167,000.00 N
600124684 KUEHNE,JOHN C $122,900.00 N
600124685 JENRETTE,JOHN D $275,000.00 N
600124686 ABOUTALEBI,MOHAMMAD H $106,000.00 N
600124687 SAWYER,WILLIAM K $85,000.00 N
600124688 IMPULLITTI,STEVEN A $72,500.00 N
600124689 BLACKMARR,EDITH A $48,000.00 N
600124690 DOAN,TRUNG $140,635.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 67
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124691 KILPATRICK,WILLIAM DEXT 4540 E. HEATHERBRAE DRIVE PHOENIX AZ 85018 $67,203.05
600124692 YOST,JEAN M 1442 TESLA DRIVE COLORADO SPRING CO 80909 $94,500.00
600124693 YOST,JEAN M 4425 MISTY DR. COLORADO SPRING CO 80918 $94,500.00
600124694 ATCHLEY III,DANA 116 ELK AVE CRESTED BUTTE CO 81224 $131,601.34
600124695 SEGAL,WILLIAM M 955 STONEWOOD LANE MAITLAND FL 32751 $120,000.00
600124696 WELLER,MICHAEL L 110 SEASON LANE HUNTSVILLE AL 35811 $106,000.00
600124698 TAYLOR JR,JOHN P 2611 DAMARET DRIVE GULPORT MS 39507 $99,000.00
600124699 PORTER,LAURIE 3962 APPLETON WAY WILMINGTON NC 28412 $159,516.78
600124700 SALEH,ABDELHAKEEM M 3 AVONLEA COURT DURHAM NC 27704 $183,467.88
600124701 WARREN,DOUGLAS W 606 PARK AVENUE CLINTON NC 28328 $38,359.41
600124702 OSMENT,JAMES A 345 ANGELA WAY CATUALA GA 31908 $96,500.00
600124703 MONTOYA,JERRY TED 5409 6TH STREET NW ALBUQUERQUE NM 87107 $71,159.36
600124704 BUCHANAN,NEIL L 962 KINGFISHER WAY ROCKLEDGE FL 32955 $54,250.00
600124705 BUCHANAN,NEIL L 1922 QUAIL RIDGE CT UNIT COCOA FL 32926 $40,600.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124691 KILPATRICK,WILLIAM DEXT 7.875 .250 7.625 .0500 7.575 12/01/2012
600124692 YOST,JEAN M 8.500 .250 8.250 .0500 8.200 01/01/2013
600124693 YOST,JEAN M 8.500 .250 8.250 .0500 8.200 01/01/2013
600124694 ATCHLEY III,DANA 7.500 .250 7.250 .0500 7.200 12/01/2012
600124695 SEGAL,WILLIAM M 7.500 .250 7.250 .0500 7.200 01/01/2013
600124696 WELLER,MICHAEL L 7.750 .250 7.500 .0500 7.450 01/01/2013
600124698 TAYLOR JR,JOHN P 6.875 .250 6.625 .0500 6.575 01/01/2013
600124699 PORTER,LAURIE 7.500 .250 7.250 .0500 7.200 12/01/2012
600124700 SALEH,ABDELHAKEEM M 7.250 .250 7.000 .0500 6.950 12/01/2012
600124701 WARREN,DOUGLAS W 7.625 .250 7.375 .0500 7.325 12/01/2012
600124702 OSMENT,JAMES A 7.375 .250 7.125 .0500 7.075 01/01/2013
600124703 MONTOYA,JERRY TED 8.000 .250 7.750 .0500 7.700 09/01/2012
600124704 BUCHANAN,NEIL L 7.875 .250 7.625 .0500 7.575 01/01/2013
600124705 BUCHANAN,NEIL L 7.875 .250 7.625 .0500 7.575 01/01/2013
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124691 KILPATRICK,WILLIAM DEXT 5445481 $639.26 01/01/1998 180
600124692 YOST,JEAN M 5451205 $930.58 01/01/1998 180
600124693 YOST,JEAN M 5451226 $930.58 01/01/1998 180
600124694 ATCHLEY III,DANA 5452464 $1,223.66 01/01/1998 180
600124695 SEGAL,WILLIAM M 5469753 $1,112.41 01/01/1998 180
600124696 WELLER,MICHAEL L 5471875 $997.75 2 01/01/1998 180
600124698 TAYLOR JR,JOHN P 5472990 $882.94 2 01/01/1998 180
600124699 PORTER,LAURIE 5474234 $1,483.22 01/01/1998 180
600124700 SALEH,ABDELHAKEEM M 5474266 $1,680.00 01/01/1998 180
600124701 WARREN,DOUGLAS W 5474716 $359.64 01/01/1998 180
600124702 OSMENT,JAMES A 5484257 $887.73 01/01/1998 180
600124703 MONTOYA,JERRY TED 5510118 $688.07 01/01/1998 180
600124704 BUCHANAN,NEIL L 5550877 $514.53 01/01/1998 180
600124705 BUCHANAN,NEIL L 5550885 $385.07 01/01/1998 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>
600124691 KILPATRICK,WILLIAM DEXT $90,000.00 N
600124692 YOST,JEAN M $126,000.00 N
600124693 YOST,JEAN M $126,000.00 N
600124694 ATCHLEY III,DANA $365,000.00 N
600124695 SEGAL,WILLIAM M $180,000.00 N
600124696 WELLER,MICHAEL L $113,000.00 N
600124698 TAYLOR JR,JOHN P $110,000.00 N
600124699 PORTER,LAURIE $210,000.00 N
600124700 SALEH,ABDELHAKEEM M $230,045.00 N
600124701 WARREN,DOUGLAS W $55,000.00 N
600124702 OSMENT,JAMES A $129,000.00 N
600124703 MONTOYA,JERRY TED $90,000.00 N
600124704 BUCHANAN,NEIL L $103,000.00 N
600124705 BUCHANAN,NEIL L $58,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 68
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124706 REGAN,WILLIAM B 2567 PENNINGTON PLACE VIENNA VA 22181 $99,684.50
600124707 SMITH,RICKY O 4211 EAST SILVERWOOD DRIV PHOENIX AZ 85044 $165,300.00
600124708 STRANGE,NANCY J 6261 S LEWIS STREET LITTLETON CO 80127 $73,000.00
600124710 THOMPSON,GUY H 3440 SENOMA CIRLCE IDAHO FALLS ID 83406 $103,636.06
600124711 BROCK,ALFONSO L 2008 DARLINGTON DRIVE TAMPA FL 33619 $48,258.58
600124712 MYATT,JOHN O 1308 N.E. 8TH STREET OCALA FL 34470 $34,196.41
600124713 ZHIZHIN,KONSTANTIN N 22 SALMAN STREET WEST ROXBURY MA 02131 $103,682.45
600124714 TAT,HUE TO 2 GARLAND STREET WORCESTER MA 01603 $51,597.11
600124715 VILLALOBOS,SANTIAGO 257 HIGHLAND AVENUE MALDEN MA 02148 $111,000.00
600124716 GOUMA,HARIS 3531 BELLE RIVER DRIVE HACIENDA HEIGHT CA 91745 $149,536.96
600124717 LEE,NAM KI 1643 NORTH 200TH STREET SEATTLE WA 98133 $156,000.00
600124718 JOHNSON JR,KENNETH L 7626 69TH STREET NORTHEAS MARYSVILLE WA 98270 $140,308.28
600124719 LEMERY,MARGARET E 10029 SOUTHEAST 224TH STR KENT WA 98031 $157,600.00
600124720 KHAN,MASAKOER ALI 1600 PEACH RD. METAIRIE LA 70002 $135,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124706 REGAN,WILLIAM B 7.000 .250 6.750 .0500 6.700 12/01/2012
600124707 SMITH,RICKY O 7.500 .250 7.250 .0500 7.200 01/01/2013
600124708 STRANGE,NANCY J 7.625 .250 7.375 .0500 7.325 01/01/2013
600124710 THOMPSON,GUY H 7.500 .250 7.250 .0500 7.200 12/01/2012
600124711 BROCK,ALFONSO L 7.875 .250 7.625 .0500 7.575 12/01/2012
600124712 MYATT,JOHN O 7.500 .250 7.250 .0500 7.200 12/01/2012
600124713 ZHIZHIN,KONSTANTIN N 7.375 .250 7.125 .0500 7.075 12/01/2012
600124714 TAT,HUE TO 7.750 .250 7.500 .0500 7.450 12/01/2012
600124715 VILLALOBOS,SANTIAGO 7.375 .250 7.125 .0500 7.075 01/01/2013
600124716 GOUMA,HARIS 7.250 .250 7.000 .0500 6.950 12/01/2012
600124717 LEE,NAM KI 7.125 .250 6.875 .0500 6.825 01/01/2013
600124718 JOHNSON JR,KENNETH L 7.625 .250 7.375 .0500 7.325 12/01/2012
600124719 LEMERY,MARGARET E 7.125 .250 6.875 .0500 6.825 01/01/2013
600124720 KHAN,MASAKOER ALI 8.000 .250 7.750 .0500 7.700 01/01/2013
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124706 REGAN,WILLIAM B 5554465 $898.83 01/01/1998 180
600124707 SMITH,RICKY O 5557670 $1,532.35 2 01/01/1998 180
600124708 STRANGE,NANCY J 5561371 $681.91 01/01/1998 180
600124710 THOMPSON,GUY H 5563842 $963.63 7 01/01/1998 180
600124711 BROCK,ALFONSO L 5570634 $459.05 7 01/01/1998 180
600124712 MYATT,JOHN O 5570643 $317.97 01/01/1998 180
600124713 ZHIZHIN,KONSTANTIN N 5573639 $956.72 01/01/1998 180
600124714 TAT,HUE TO 5573754 $487.11 01/01/1998 180
600124715 VILLALOBOS,SANTIAGO 5574462 $1,021.11 01/01/1998 180
600124716 GOUMA,HARIS 5584601 $1,369.29 01/01/1998 180
600124717 LEE,NAM KI 5589919 $1,413.10 01/01/1998 180
600124718 JOHNSON JR,KENNETH L 5590165 $1,315.25 01/01/1998 180
600124719 LEMERY,MARGARET E 5591494 $1,427.59 01/01/1998 180
600124720 KHAN,MASAKOER ALI 5593842 $1,290.13 01/01/1998 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>
600124706 REGAN,WILLIAM B $316,500.00 N
600124707 SMITH,RICKY O $174,000.00 N
600124708 STRANGE,NANCY J $156,000.00 N
600124710 THOMPSON,GUY H $122,350.00 N
600124711 BROCK,ALFONSO L $57,000.00 N
600124712 MYATT,JOHN O $42,900.00 N
600124713 ZHIZHIN,KONSTANTIN N $139,000.00 N
600124714 TAT,HUE TO $69,000.00 N
600124715 VILLALOBOS,SANTIAGO $172,000.00 N
600124716 GOUMA,HARIS $378,000.00 N
600124717 LEE,NAM KI $238,000.00 N
600124718 JOHNSON JR,KENNETH L $176,000.00 N
600124719 LEMERY,MARGARET E $197,000.00 N
600124720 KHAN,MASAKOER ALI $180,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 69
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124721 JONES,RICKY P 617 POINT OF VIEW DRIVE COLUMBIA TN 38401 $114,834.73
600124722 CURTIS,MIKE L 308 RACHEL ROAD NASHVILLE TN 37214 $127,500.00
600124723 ARNOLD,RICHARD S 3459 ARNOLD PARKWAY SEVIERVILLE TN 37682 $211,369.17
600124724 STOTTLAR,CHARLES A 11301 NORTHEAST DAVIS RD EASTON MO 64443 $75,200.00
600124725 POLLESCHE,SIEGFRIED 6810 SOUTH VIRGINIA HILLS SALT LAKE CITY UT 84121 $125,000.00
600124726 KAILUNAS,DEBORAH 2331 WILSHIRE DRIVE SE EAST GRAND RAPI MI 49506 $131,500.00
600124727 SANTINI,RAFFAELE 3605 HEATHERS WAY PARKVILLE MD 21234 $104,000.00
600124728 URF,EMILY 1403 LAKE HURON DRIVE VIRGINIA BEACH VA 23464 $35,000.00
600124729 BARNES,PAUL R 8222 MOUNTAIN ASH WAY GAITHERSBURG MD 20879 $50,000.00
600124730 VILLASENOR,JOSE ANAIAS 1740 WEST WELLINGTON AVEN CHICAGO IL 60657 $168,000.00
600124731 GHAEMMAGHAMI,HASSAN S 800 SHERWOOD COURT IRVING TX 75061 $93,900.00
600124732 WEINER,HERBERT 7360 LAKE MEADOW WAY #202 BOYNTON BEACH FL 33437 $109,600.00
600124733 CHILDERS,STUART E 10024 NORTHEAST KNIGHT RO BAINBRIDGE ISLA WA 98110 $128,000.00
600124734 LEMERY,MARGARET E 9635 SOUTHEAST 240TH STRE KENT WA 98031 $66,300.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124721 JONES,RICKY P 7.750 .250 7.500 .0500 7.450 12/01/2012
600124722 CURTIS,MIKE L 7.500 .250 7.250 .0500 7.200 01/01/2013
600124723 ARNOLD,RICHARD S 7.750 .250 7.500 .0500 7.450 12/01/2012
600124724 STOTTLAR,CHARLES A 7.500 .250 7.250 .0500 7.200 01/01/2013
600124725 POLLESCHE,SIEGFRIED 7.500 .250 7.250 .0500 7.200 01/01/2013
600124726 KAILUNAS,DEBORAH 7.250 .250 7.000 .0500 6.950 01/01/2013
600124727 SANTINI,RAFFAELE 6.750 .250 6.500 .0500 6.450 01/01/2013
600124728 URF,EMILY 7.250 .250 7.000 .0500 6.950 01/01/2013
600124729 BARNES,PAUL R 8.000 .250 7.750 .0500 7.700 01/01/2013
600124730 VILLASENOR,JOSE ANAIAS 7.875 .250 7.625 .0500 7.575 01/01/2013
600124731 GHAEMMAGHAMI,HASSAN S 7.375 .250 7.125 .0500 7.075 01/01/2013
600124732 WEINER,HERBERT 7.500 .250 7.250 .0500 7.200 01/01/2013
600124733 CHILDERS,STUART E 7.250 .250 7.000 .0500 6.950 01/01/2013
600124734 LEMERY,MARGARET E 7.500 .250 7.250 .0500 7.200 01/01/2013
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124721 JONES,RICKY P 5596443 $1,084.11 7 01/01/1998 180
600124722 CURTIS,MIKE L 5596635 $1,181.94 01/01/1998 180
600124723 ARNOLD,RICHARD S 5596797 $1,995.50 01/01/1998 180
600124724 STOTTLAR,CHARLES A 5612440 $697.11 01/01/1998 180
600124725 POLLESCHE,SIEGFRIED 5613960 $1,158.77 01/01/1998 180
600124726 KAILUNAS,DEBORAH 5615837 $1,200.41 01/01/1998 180
600124727 SANTINI,RAFFAELE 5618333 $920.31 01/01/1998 180
600124728 URF,EMILY 5618888 $319.50 01/01/1998 180
600124729 BARNES,PAUL R 5619727 $477.83 01/01/1998 180
600124730 VILLASENOR,JOSE ANAIAS 5620109 $1,593.40 01/01/1998 180
600124731 GHAEMMAGHAMI,HASSAN S 5655627 $863.81 01/01/1998 180
600124732 WEINER,HERBERT 5658777 $1,016.01 01/01/1998 180
600124733 CHILDERS,STUART E 5669752 $1,168.46 01/01/1998 180
600124734 LEMERY,MARGARET E 5669820 $614.61 01/01/1998 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>
600124721 JONES,RICKY P $135,500.00 N
600124722 CURTIS,MIKE L $170,000.00 N
600124723 ARNOLD,RICHARD S $275,000.00 N
600124724 STOTTLAR,CHARLES A $94,000.00 N
600124725 POLLESCHE,SIEGFRIED $225,000.00 N
600124726 KAILUNAS,DEBORAH $165,000.00 N
600124727 SANTINI,RAFFAELE $130,000.00 N
600124728 URF,EMILY $66,000.00 N
600124729 BARNES,PAUL R $117,000.00 N
600124730 VILLASENOR,JOSE ANAIAS $260,000.00 N
600124731 GHAEMMAGHAMI,HASSAN S $168,000.00 N
600124732 WEINER,HERBERT $137,000.00 N
600124733 CHILDERS,STUART E $285,000.00 N
600124734 LEMERY,MARGARET E $103,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 70
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124736 PENCAK,DAVID 4459 BRISTOL LANE CARMEL IN 46033 $134,350.00
600124737 BRUECKS,PHYLLIS M 9817 P CIRCLE OMAHA NE 68127 $69,000.00
600124739 HAMASH,KHALED 3306 SHADOWWALK DRIVE HOUSTON TX 77082 $111,661.75
600124740 HOWARD,KENNETH JOHN 317 CEDAR DRIVE HITCHCOCK TX 77563 $31,200.00
600124741 CHIEN,YAU DEAN 1806 BOWEN AVENUE COPPERAS COVE TX 76522 $90,400.00
600124742 NICHOLS,ANDY 1110 HOLLY SPRINGS DRIVE HUNTSVILLE TX 77340 $50,792.72
600124743 CRUMRINE,HENRY L 120 POPPY STREET LAKE JACKSON TX 77566 $47,500.00
600124744 LIMAS,CRISTINA A 8023 ZIMMERMANN DRIVE HOUSTON TX 77088 $64,000.00
600124745 TRAN,THANH NGOC 12009 PINE BROOK DRIVE STAFFORD TX 77477 $133,850.00
600124746 GOR,SAM HUA 3415 STREAMSIDE LANE SUGAR LAND TX 77479 $79,900.00
600124747 FREEMAN,CHRISTINE AR 2240 SHADYWOOD ROAD ORONO MN 55391 $205,384.65
600124748 RANDOLPH,LAURI A 15800 W HWY 44 RAPID CITY SD 57702 $52,500.00
600124749 MCEWEN,ROBIN A 311 2ND ST SE AUSTIN MN 55912 $30,600.00
600124751 FORD,TRE 5400 COLORADO RD MIDPINES CA 95345 $97,500.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124736 PENCAK,DAVID 7.875 .250 7.625 .0500 7.575 01/01/2013
600124737 BRUECKS,PHYLLIS M 7.375 .250 7.125 .0500 7.075 01/01/2013
600124739 HAMASH,KHALED 7.500 .250 7.250 .0500 7.200 12/01/2012
600124740 HOWARD,KENNETH JOHN 8.500 .250 8.250 .0500 8.200 01/01/2013
600124741 CHIEN,YAU DEAN 7.375 .250 7.125 .0500 7.075 01/01/2013
600124742 NICHOLS,ANDY 7.250 .250 7.000 .0500 6.950 12/01/2012
600124743 CRUMRINE,HENRY L 6.875 .250 6.625 .0500 6.575 01/01/2013
600124744 LIMAS,CRISTINA A 7.250 .250 7.000 .0500 6.950 01/01/2013
600124745 TRAN,THANH NGOC 7.625 .250 7.375 .0500 7.325 01/01/2013
600124746 GOR,SAM HUA 7.500 .250 7.250 .0500 7.200 01/01/2013
600124747 FREEMAN,CHRISTINE AR 7.625 .250 7.375 .0500 7.325 12/01/2012
600124748 RANDOLPH,LAURI A 7.625 .250 7.375 .0500 7.325 01/01/2013
600124749 MCEWEN,ROBIN A 7.875 .250 7.625 .0500 7.575 01/01/2013
600124751 FORD,TRE 7.250 .250 7.000 .0500 6.950 01/01/2013
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124736 PENCAK,DAVID 5674438 $1,274.24 01/01/1998 180
600124737 BRUECKS,PHYLLIS M 5680308 $634.75 01/01/1998 180
600124739 HAMASH,KHALED 5727494 $1,038.25 01/01/1998 180
600124740 HOWARD,KENNETH JOHN 5727516 $307.24 01/01/1998 180
600124741 CHIEN,YAU DEAN 5728026 $831.61 01/01/1998 180
600124742 NICHOLS,ANDY 5728036 $465.10 01/01/1998 180
600124743 CRUMRINE,HENRY L 5728918 $423.63 01/01/1998 180
600124744 LIMAS,CRISTINA A 5729052 $584.23 01/01/1998 180
600124745 TRAN,THANH NGOC 5729366 $1,250.33 01/01/1998 180
600124746 GOR,SAM HUA 5729574 $740.68 01/01/1998 180
600124747 FREEMAN,CHRISTINE AR 5730013 $1,924.31 01/01/1998 180
600124748 RANDOLPH,LAURI A 5730551 $490.42 01/01/1998 180
600124749 MCEWEN,ROBIN A 5731906 $290.23 7 01/01/1998 180
600124751 FORD,TRE 5735776 $890.04 01/01/1998 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>
600124736 PENCAK,DAVID $195,500.00 N
600124737 BRUECKS,PHYLLIS M $96,000.00 N
600124739 HAMASH,KHALED $140,000.00 N
600124740 HOWARD,KENNETH JOHN $47,450.00 N
600124741 CHIEN,YAU DEAN $113,000.00 N
600124742 NICHOLS,ANDY $68,000.00 N
600124743 CRUMRINE,HENRY L $97,500.00 N
600124744 LIMAS,CRISTINA A $80,000.00 N
600124745 TRAN,THANH NGOC $178,500.00 N
600124746 GOR,SAM HUA $99,900.00 N
600124747 FREEMAN,CHRISTINE AR $275,000.00 N
600124748 RANDOLPH,LAURI A $96,000.00 N
600124749 MCEWEN,ROBIN A $34,000.00 N
600124751 FORD,TRE $206,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 71
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124752 SWETT,JULIE M 3928 ROSEMARY DRIVE PUNTA GORDA FL 33982 $59,816.80
600124753 CRITES,ERNEST H 2312 EDNOR STREET PORT CHARLOTTE FL 33952 $29,200.00
600124755 STARMAN,LOUIS 6600 GREENBRIAR DRIVE SEMINOLE FL 33777 $170,000.00
600124756 ABDOW,ALEX 25 JONATHAN CIRCLE WORCESTER MA 01604 $96,000.00
600124757 BAIANY,HEATHER 132 RADCLIFF ROAD BELMONT MA 02178 $224,000.00
600124759 STATES,EVERETTE L 25 UPPER RED RIVER VALLEY RED RIVER NM 87558 $95,000.00
600124760 DAY,CHARLES D 700 W MANANA CLOVIS NM 88101 $41,225.00
600124761 PADILLA,LARRY M 4800 PLUME ROAD NW ALBUQUERQUE NM 87120 $123,250.00
600124762 TRUMM,JOSEPH W 635 ESPERANZA BOSQUE FARMS NM 87068 $83,000.00
600124763 KUBALA,STEVEN G 3505 WELLESLEY DR. NE ALBUQUERQUE NM 87111 $113,000.00
600124764 HEIGHT,MARION RUTH 308 GERALDINE ROAD SE RIO RANCHO NM 87124 $100,000.00
600124766 BLAIR,ROGER JOE 1623 EAST 4TH STREET STILLWATER OK 74074 $43,500.00
600124767 BLAIR,ROGER JOE 914 SOUTH WEST STILLWATER OK 74074 $31,875.00
600124768 BLAIR,ROGER JOE 1018 SOUTH MCDONALD STILLWATER OK 74074 $75,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124752 SWETT,JULIE M 7.375 .250 7.125 .0500 7.075 12/01/2012
600124753 CRITES,ERNEST H 7.750 .250 7.500 .0500 7.450 01/01/2013
600124755 STARMAN,LOUIS 7.500 .250 7.250 .0500 7.200 01/01/2013
600124756 ABDOW,ALEX 7.875 .250 7.625 .0500 7.575 01/01/2013
600124757 BAIANY,HEATHER 7.375 .250 7.125 .0500 7.075 01/01/2013
600124759 STATES,EVERETTE L 7.750 .250 7.500 .0500 7.450 01/01/2013
600124760 DAY,CHARLES D 7.500 .250 7.250 .0500 7.200 01/01/2013
600124761 PADILLA,LARRY M 7.250 .250 7.000 .0500 6.950 01/01/2013
600124762 TRUMM,JOSEPH W 7.250 .250 7.000 .0500 6.950 01/01/2013
600124763 KUBALA,STEVEN G 7.500 .250 7.250 .0500 7.200 01/01/2013
600124764 HEIGHT,MARION RUTH 7.500 .250 7.250 .0500 7.200 01/01/2013
600124766 BLAIR,ROGER JOE 7.750 .250 7.500 .0500 7.450 01/01/2013
600124767 BLAIR,ROGER JOE 7.625 .250 7.375 .0500 7.325 01/01/2013
600124768 BLAIR,ROGER JOE 7.750 .250 7.500 .0500 7.450 01/01/2013
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124752 SWETT,JULIE M 5759528 $551.95 01/01/1998 180
600124753 CRITES,ERNEST H 5759672 $274.85 01/01/1998 180
600124755 STARMAN,LOUIS 5790771 $1,575.92 01/01/1998 180
600124756 ABDOW,ALEX 5792011 $910.51 7 01/01/1998 180
600124757 BAIANY,HEATHER 5792554 $2,060.63 01/01/1998 180
600124759 STATES,EVERETTE L 5794632 $894.21 01/01/1998 180
600124760 DAY,CHARLES D 5795265 $382.16 7 01/01/1998 180
600124761 PADILLA,LARRY M 5795457 $1,125.10 7 01/01/1998 180
600124762 TRUMM,JOSEPH W 5795810 $757.68 7 01/01/1998 180
600124763 KUBALA,STEVEN G 5796655 $1,047.52 01/01/1998 180
600124764 HEIGHT,MARION RUTH 5797024 $927.01 01/01/1998 180
600124766 BLAIR,ROGER JOE 5812399 $409.45 01/01/1998 180
600124767 BLAIR,ROGER JOE 5812410 $297.75 01/01/1998 180
600124768 BLAIR,ROGER JOE 5812420 $705.96 01/01/1998 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>
600124752 SWETT,JULIE M $99,000.00 N
600124753 CRITES,ERNEST H $39,000.00 N
600124755 STARMAN,LOUIS $245,000.00 N
600124756 ABDOW,ALEX $107,000.00 N
600124757 BAIANY,HEATHER $425,000.00 N
600124759 STATES,EVERETTE L $175,000.00 N
600124760 DAY,CHARLES D $48,500.00 N
600124761 PADILLA,LARRY M $145,000.00 N
600124762 TRUMM,JOSEPH W $96,000.00 N
600124763 KUBALA,STEVEN G $155,000.00 N
600124764 HEIGHT,MARION RUTH $205,000.00 N
600124766 BLAIR,ROGER JOE $58,000.00 N
600124767 BLAIR,ROGER JOE $42,500.00 N
600124768 BLAIR,ROGER JOE $100,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 72
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124771 YENSAN,GREGG A 5456 E. GRANDVIEW ROAD SCOTTSDALE AZ 85254 $160,600.00
600124772 CLARK,JR,WILLIAM F 5309 WEST PROSPECT COURT VISALIA CA 93291 $161,000.00
600124773 DOUGLAS,MICHAEL L 1620 BRIDGE STREET ENGLEWOOD FL 34223 $186,500.00
600124774 BRUNSON,CHRISTOPHER 2915 17TH STREET ROAD GREELEY CO 80631 $87,975.00
600124775 GOODROAD,STEVEN A 4024 BOULDER DRIVE LOVELAND CO 80538 $88,500.00
600124776 FRANEY,MATTHEW 3336 MANITOU CORPUS CHRISTI TX 78411 $110,600.00
600124777 KING,JERRY C 285 WINGATE DRIVE MONTGOMERY TX 77356 $126,300.00
600124778 LE,PHONG O 8018 BUNKER WOOD LANE HOUSTON TX 77086 $34,000.00
600124781 YI,SONG H 2344 SANTA FE AVENUE TORRANCE CA 90501 $175,000.00
600124782 TALLMAN,MICHAEL F 8008 BIRCH DRIVE CHATTANOOGA TN 37421 $135,000.00
600124783 TORP,THOMAS G 32231 7TH AVENUE SOUTHWES FEDERAL WAY WA 98023 $150,000.00
600124784 SALMO,MUHSEN 43212 GINA DR STERLING HEIGHT MI 48314 $173,750.00
600124785 JIULIANTI,DAVID M 329 NOTTINGHAM ROAD LEXINGTON KY 40517 $53,869.13
600124786 ESTES,WILLIAM C 8057 DOVER ROAD SHELBYVILLE KY 40065 $63,806.71
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124771 YENSAN,GREGG A 7.250 .250 7.000 .0500 6.950 01/01/2013
600124772 CLARK,JR,WILLIAM F 7.500 .250 7.250 .0500 7.200 01/01/2013
600124773 DOUGLAS,MICHAEL L 7.750 .250 7.500 .0500 7.450 01/01/2013
600124774 BRUNSON,CHRISTOPHER 7.000 .250 6.750 .0500 6.700 01/01/2013
600124775 GOODROAD,STEVEN A 7.750 .250 7.500 .0500 7.450 01/01/2013
600124776 FRANEY,MATTHEW 7.375 .250 7.125 .0500 7.075 01/01/2013
600124777 KING,JERRY C 7.375 .250 7.125 .0500 7.075 01/01/2013
600124778 LE,PHONG O 7.625 .250 7.375 .0500 7.325 01/01/2013
600124781 YI,SONG H 7.125 .250 6.875 .0500 6.825 01/01/2013
600124782 TALLMAN,MICHAEL F 7.250 .250 7.000 .0500 6.950 01/01/2013
600124783 TORP,THOMAS G 7.375 .250 7.125 .0500 7.075 01/01/2013
600124784 SALMO,MUHSEN 8.000 .250 7.750 .0500 7.700 01/01/2013
600124785 JIULIANTI,DAVID M 7.875 .250 7.625 .0500 7.575 12/01/2012
600124786 ESTES,WILLIAM C 7.500 .250 7.250 .0500 7.200 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124771 YENSAN,GREGG A 5831241 $1,466.06 2 01/01/1998 180
600124772 CLARK,JR,WILLIAM F 5837137 $1,492.49 7 01/01/1998 180
600124773 DOUGLAS,MICHAEL L 5846904 $1,755.48 01/01/1998 180
600124774 BRUNSON,CHRISTOPHER 5852799 $790.74 12 01/01/1998 180
600124775 GOODROAD,STEVEN A 5853588 $833.03 01/01/1998 180
600124776 FRANEY,MATTHEW 5854369 $1,017.44 01/01/1998 180
600124777 KING,JERRY C 5855038 $1,161.86 01/01/1998 180
600124778 LE,PHONG O 5855348 $317.60 01/01/1998 180
600124781 YI,SONG H 5877376 $1,585.20 01/01/1998 180
600124782 TALLMAN,MICHAEL F 5885181 $1,232.36 7 01/01/1998 180
600124783 TORP,THOMAS G 5886476 $1,379.88 01/01/1998 180
600124784 SALMO,MUHSEN 5890575 $1,660.45 01/01/1998 180
600124785 JIULIANTI,DAVID M 5912692 $512.42 01/01/1998 180
600124786 ESTES,WILLIAM C 5912756 $593.29 2 01/01/1998 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>
600124771 YENSAN,GREGG A $182,000.00 N
600124772 CLARK,JR,WILLIAM F $194,000.00 N
600124773 DOUGLAS,MICHAEL L $285,000.00 N
600124774 BRUNSON,CHRISTOPHER $103,500.00 N
600124775 GOODROAD,STEVEN A $118,000.00 N
600124776 FRANEY,MATTHEW $216,000.00 N
600124777 KING,JERRY C $341,300.00 N
600124778 LE,PHONG O $42,500.00 N
600124781 YI,SONG H $380,000.00 N
600124782 TALLMAN,MICHAEL F $150,000.00 N
600124783 TORP,THOMAS G $195,000.00 N
600124784 SALMO,MUHSEN $245,000.00 N
600124785 JIULIANTI,DAVID M $72,000.00 N
600124786 ESTES,WILLIAM C $74,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 73
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124787 COX,HORACE 106 BEACHVIEW COURT EMERALD ISLE NC 28594 $100,000.00
600124788 SALEH,KHALID M 3811 COTTONWOOD DRIVE DURHAM NC 27705 $215,900.00
600124789 CASSIMATIS,MICHAEL L 1410 HERITAGE LANDING ST. CHARLES MO 63303 $36,800.00
600124790 DARBY,FREDERICK S 2000 DESOTO AVENUE ST. LOUIS MO 63107 $36,000.00
600124791 GOMAN,VALENTIN 4129 NORTH KENNETH CHICAGO IL 60641 $157,600.00
600124792 MONARREZ,JOSE L 2931 NORTH WOLF AVENUE NORTHLAKE IL 60164 $146,250.00
600124793 KAMINSKI,JEFFREY R 129 VISTA VIEW DRIVE WAUCONDA IL 60084 $85,000.00
600124794 ROSEN,JEROME 377 HAMMOCK TRAIL WEST PALM BEACH FL 33413 $105,000.00
600124795 THOMPSON,RULON B 5868 SO. 3650 WEST ROY UT 84067 $115,000.00
600124796 BULGER,GARY L 814 NORTH WACCAMAW DRIVE GARDEN CITY SC 29576 $74,800.00
600124797 HO,JIM JAIN 3449 ASHBOURNE PLACE ROWLAND HEIGHTS CA 91748 $225,000.00
600124798 RIDDLE,JAMES M 2338 ROCK CREST GLEN ESCONDIDO CA 92026 $135,600.00
600124799 SMITH,JR,HERMAN L 5006 CORTE PLAYA CATALINA SAN DIEGO CA 92124 $169,000.00
600124800 MCKENNA,GEORGE X 4320 ARAGON DRIVE SAN DIEGO CA 92115 $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>
600124787 COX,HORACE 7.750 .250 7.500 .0500 7.450 01/01/2013
600124788 SALEH,KHALID M 7.250 .250 7.000 .0500 6.950 01/01/2013
600124789 CASSIMATIS,MICHAEL L 7.750 .250 7.500 .0500 7.450 01/01/2013
600124790 DARBY,FREDERICK S 7.750 .250 7.500 .0500 7.450 01/01/2013
600124791 GOMAN,VALENTIN 7.750 .250 7.500 .0500 7.450 01/01/2013
600124792 MONARREZ,JOSE L 7.500 .250 7.250 .0500 7.200 01/01/2013
600124793 KAMINSKI,JEFFREY R 7.500 .250 7.250 .0500 7.200 01/01/2013
600124794 ROSEN,JEROME 7.500 .250 7.250 .0500 7.200 01/01/2013
600124795 THOMPSON,RULON B 7.500 .250 7.250 .0500 7.200 01/01/2013
600124796 BULGER,GARY L 7.500 .250 7.250 .0500 7.200 01/01/2013
600124797 HO,JIM JAIN 7.000 .250 6.750 .0500 6.700 01/01/2013
600124798 RIDDLE,JAMES M 7.125 .250 6.875 .0500 6.825 01/01/2013
600124799 SMITH,JR,HERMAN L 7.500 .250 7.250 .0500 7.200 01/01/2013
600124800 MCKENNA,GEORGE X 7.875 .250 7.625 .0500 7.575 01/01/2013
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124787 COX,HORACE 5921890 $941.28 01/01/1998 180
600124788 SALEH,KHALID M 5922072 $1,970.87 01/01/1998 180
600124789 CASSIMATIS,MICHAEL L 5923961 $346.39 01/01/1998 180
600124790 DARBY,FREDERICK S 5925332 $338.86 01/01/1998 180
600124791 GOMAN,VALENTIN 5927880 $1,483.45 01/01/1998 180
600124792 MONARREZ,JOSE L 5928041 $1,355.76 01/01/1998 180
600124793 KAMINSKI,JEFFREY R 5932273 $787.96 01/01/1998 180
600124794 ROSEN,JEROME 5961894 $973.36 01/01/1998 180
600124795 THOMPSON,RULON B 5964849 $1,066.06 01/01/1998 180
600124796 BULGER,GARY L 5969330 $693.41 01/01/1998 180
600124797 HO,JIM JAIN 5972247 $2,022.36 01/01/1998 180
600124798 RIDDLE,JAMES M 6016414 $1,228.31 01/01/1998 180
600124799 SMITH,JR,HERMAN L 6017007 $1,566.65 01/01/1998 180
600124800 MCKENNA,GEORGE X 6017190 $981.65 01/01/1998 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>
600124787 COX,HORACE $156,000.00 N
600124788 SALEH,KHALID M $269,900.00 N
600124789 CASSIMATIS,MICHAEL L $46,000.00 N
600124790 DARBY,FREDERICK S $48,000.00 N
600124791 GOMAN,VALENTIN $197,000.00 N
600124792 MONARREZ,JOSE L $195,000.00 N
600124793 KAMINSKI,JEFFREY R $135,000.00 N
600124794 ROSEN,JEROME $140,000.00 N
600124795 THOMPSON,RULON B $193,000.00 N
600124796 BULGER,GARY L $93,500.00 N
600124797 HO,JIM JAIN $300,000.00 N
600124798 RIDDLE,JAMES M $260,000.00 N
600124799 SMITH,JR,HERMAN L $360,000.00 N
600124800 MCKENNA,GEORGE X $138,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 74
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124801 MCCUNE,RONALD L 5821 S QUATAR CIRCLE AURORA CO 80015 $119,850.00
600124802 STUDY,MELINDA J 300 GORDON DRIVE CASTLE ROCK CO 80104 $106,000.00
600124803 STUDY,MELINDA J 2062 VINEYARD DRIVE CASTLE ROCK CO 80104 $79,000.00
600124804 FIGUEROA,RAMON 12331 S.W. 256TH STREET HOMESTEAD FL 33032 $30,000.00
600124805 JEWELL,BRENDA E 3003 KILCULLEN DRIVE COLUMBUS OH 43221 $67,000.00
600124806 TERIHAY,BRENDA MOORE 1504 SAKONNET COURT BRANDON FL 33511 $87,200.00
600124807 PLANTS,LOUIS S 582 BLOSSOM FIELD COURT FOUNTAIN CO 80817 $66,750.00
600124808 PLANTS,LOUIS S 4442 BARKMAN CIRCLE COLORADO SPRING CO 80916 $67,500.00
600124809 COLLETT,STEPHEN B 3867 CUMMING HWY CANTON GA 30114 $37,100.00
600124810 LIU,WARRICK 13048 ANDY STREET CERRITOS CA 90703 $140,800.00
600124811 WOBBROCK,MICHAEL J RURAL ROUTE 1 107A LE SUEUR MN 56058 $52,000.00
600124812 KAMROWSKI,FREDERICK P 2331 UPTON AVENUE NORTH MINNEAPOLIS MN 55412 $31,500.00
600124813 SMITH,RUSSELL W 3327 SOUTH UNIVERSITY DRI FORT WORTH TX 76109 $85,600.00
600124814 WILLIAMS,DONNA PARKER 9 SILVERHORN DRIVE SAN ANTONIO TX 78216 $160,150.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124801 MCCUNE,RONALD L 7.500 .250 7.250 .0500 7.200 01/01/2013
600124802 STUDY,MELINDA J 7.500 .250 7.250 .0500 7.200 01/01/2013
600124803 STUDY,MELINDA J 8.000 .250 7.750 .0500 7.700 01/01/2013
600124804 FIGUEROA,RAMON 7.875 .250 7.625 .0500 7.575 01/01/2013
600124805 JEWELL,BRENDA E 7.625 .250 7.375 .0500 7.325 01/01/2013
600124806 TERIHAY,BRENDA MOORE 7.875 .250 7.625 .0500 7.575 01/01/2013
600124807 PLANTS,LOUIS S 7.500 .250 7.250 .0500 7.200 01/01/2013
600124808 PLANTS,LOUIS S 7.500 .250 7.250 .0500 7.200 01/01/2013
600124809 COLLETT,STEPHEN B 8.500 .250 8.250 .0500 8.200 01/01/2013
600124810 LIU,WARRICK 6.875 .250 6.625 .0500 6.575 01/01/2013
600124811 WOBBROCK,MICHAEL J 7.500 .250 7.250 .0500 7.200 01/01/2013
600124812 KAMROWSKI,FREDERICK P 7.875 .250 7.625 .0500 7.575 01/01/2013
600124813 SMITH,RUSSELL W 7.750 .250 7.500 .0500 7.450 01/01/2013
600124814 WILLIAMS,DONNA PARKER 7.625 .250 7.375 .0500 7.325 01/01/2013
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124801 MCCUNE,RONALD L 6036588 $1,111.02 3 01/01/1998 180
600124802 STUDY,MELINDA J 6037434 $982.63 01/01/1998 180
600124803 STUDY,MELINDA J 6038041 $754.97 01/01/1998 180
600124804 FIGUEROA,RAMON 6065695 $284.53 01/01/1998 180
600124805 JEWELL,BRENDA E 6070368 $625.87 01/01/1998 180
600124806 TERIHAY,BRENDA MOORE 6071652 $827.05 01/01/1998 180
600124807 PLANTS,LOUIS S 6080673 $618.78 01/01/1998 180
600124808 PLANTS,LOUIS S 6080686 $625.73 01/01/1998 180
600124809 COLLETT,STEPHEN B 6120550 $365.34 19 01/01/1998 180
600124810 LIU,WARRICK 6181128 $1,255.73 01/01/1998 180
600124811 WOBBROCK,MICHAEL J 6185859 $482.05 14 01/01/1998 180
600124812 KAMROWSKI,FREDERICK P 6186574 $298.76 01/01/1998 180
600124813 SMITH,RUSSELL W 6188293 $805.73 19 01/01/1998 180
600124814 WILLIAMS,DONNA PARKER 6188316 $1,496.01 01/01/1998 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>
600124801 MCCUNE,RONALD L $141,000.00 N
600124802 STUDY,MELINDA J $190,000.00 N
600124803 STUDY,MELINDA J $140,000.00 N
600124804 FIGUEROA,RAMON $89,000.00 N
600124805 JEWELL,BRENDA E $97,000.00 N
600124806 TERIHAY,BRENDA MOORE $117,000.00 N
600124807 PLANTS,LOUIS S $89,000.00 N
600124808 PLANTS,LOUIS S $90,000.00 N
600124809 COLLETT,STEPHEN B $41,250.00 N
600124810 LIU,WARRICK $176,000.00 N
600124811 WOBBROCK,MICHAEL J $62,500.00 N
600124812 KAMROWSKI,FREDERICK P $42,000.00 N
600124813 SMITH,RUSSELL W $95,150.00 N
600124814 WILLIAMS,DONNA PARKER $200,223.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 75
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124815 ST JOHN,GARY M 14454 121ST PLACE NE KIRKLAND WA 98034 $136,000.00
600124816 GREEN,IRENE A 629 KIRKLAND WAY B-11 KIRKLAND WA 98033 $63,500.00
600124817 YEAGER,DONNA J 535 MEMORY LANE BOULDER CREEK CA 95006 $90,000.00
600124818 RAINER,JR,JOSEPH E 505 CINNAMINSON STREET RIVERTON NJ 08077 $60,000.00
600124819 ARCHER,ROBERT M 1876 DOWD MUSKEGON MI 49441 $23,400.00
600124820 KIM,YUNG I 6386 SOUTH EMPORIA CIRCLE ENGLEWOOD CO 80111 $112,700.00
600124821 WINTER,CAROL ANN 128 HILLSIDE STREET ASHEVILLE NC 28801 $127,100.00
600124822 VIOLA,ENRICO 111 SWAN STREET STATEN ISLAND NY 10301 $79,758.07
600124823 NAPOLI,DANIEL R 21 BARGER STREET PUTNAM VALLEY NY 10579 $89,310.62
600124824 KANIESKI,MICHAEL G 1832 WEST 57TH STREET CLEVELAND OH 44102 $32,199.36
600124825 EVANGELOU,DIMITRIOS 18 CEDAR STREET 1B RIDGEFIELD PARK NJ 07660 $29,912.35
600124826 RUSSO,DISMA 547 NORTH HENDERSON ROAD KING OF PRUSSIA PA 19406 $91,709.75
600124827 MUSSO,JULIO A 1724 MAPLE AVENUE HATFIELD PA 19440 $79,747.61
600124828 BACH,JR,JOSEPH 1640 JARRETTOWN ROAD DRESHER PA 19025 $59,818.79
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124815 ST JOHN,GARY M 7.750 .250 7.500 .0500 7.450 01/01/2013
600124816 GREEN,IRENE A 7.750 .250 7.500 .0500 7.450 01/01/2013
600124817 YEAGER,DONNA J 7.125 .250 6.875 .0500 6.825 01/01/2013
600124818 RAINER,JR,JOSEPH E 7.250 .250 7.000 .0500 6.950 01/01/2013
600124819 ARCHER,ROBERT M 8.875 .250 8.625 .0500 8.575 02/01/2013
600124820 KIM,YUNG I 7.375 .250 7.125 .0500 7.075 01/01/2013
600124821 WINTER,CAROL ANN 7.625 .250 7.375 .0500 7.325 01/01/2013
600124822 VIOLA,ENRICO 7.750 .250 7.500 .0500 7.450 12/01/2012
600124823 NAPOLI,DANIEL R 7.625 .250 7.375 .0500 7.325 12/01/2012
600124824 KANIESKI,MICHAEL G 7.250 .250 7.000 .0500 6.950 11/01/2012
600124825 EVANGELOU,DIMITRIOS 7.875 .250 7.625 .0500 7.575 12/01/2012
600124826 RUSSO,DISMA 7.000 .250 6.750 .0500 6.700 12/01/2012
600124827 MUSSO,JULIO A 7.000 .250 6.750 .0500 6.700 12/01/2012
600124828 BACH,JR,JOSEPH 7.500 .250 7.250 .0500 7.200 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124815 ST JOHN,GARY M 6248752 $1,280.14 01/01/1998 180
600124816 GREEN,IRENE A 6249405 $597.71 01/01/1998 180
600124817 YEAGER,DONNA J 6288403 $815.25 01/01/1998 180
600124818 RAINER,JR,JOSEPH E 6328492 $547.72 01/01/1998 180
600124819 ARCHER,ROBERT M 6368127 $235.60 02/01/1998 180
600124820 KIM,YUNG I 6376330 $1,036.75 01/01/1998 180
600124821 WINTER,CAROL ANN 6400230 $1,187.28 01/01/1998 180
600124822 VIOLA,ENRICO 6621999 $753.02 01/01/1998 180
600124823 NAPOLI,DANIEL R 6708006 $836.98 01/01/1998 180
600124824 KANIESKI,MICHAEL G 7102344 $295.77 19 01/01/1998 180
600124825 EVANGELOU,DIMITRIOS 7239039 $284.53 01/01/1998 180
600124826 RUSSO,DISMA 8478009 $826.92 01/01/1998 180
600124827 MUSSO,JULIO A 8478124 $719.06 01/01/1998 180
600124828 BACH,JR,JOSEPH 8478135 $556.21 01/01/1998 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>
600124815 ST JOHN,GARY M $210,000.00 N
600124816 GREEN,IRENE A $140,000.00 N
600124817 YEAGER,DONNA J $182,000.00 N
600124818 RAINER,JR,JOSEPH E $80,000.00 N
600124819 ARCHER,ROBERT M $39,000.00 N
600124820 KIM,YUNG I $161,000.00 N
600124821 WINTER,CAROL ANN $158,875.00 N
600124822 VIOLA,ENRICO $100,000.00 N
600124823 NAPOLI,DANIEL R $112,000.00 N
600124824 KANIESKI,MICHAEL G $36,000.00 N
600124825 EVANGELOU,DIMITRIOS $75,000.00 N
600124826 RUSSO,DISMA $160,000.00 N
600124827 MUSSO,JULIO A $198,000.00 N
600124828 BACH,JR,JOSEPH $190,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 76
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124829 SANDERS,TERRI A 5309 SE 88TH STREET OKLAHOMA CITY OK 73135 $68,158.99
600124830 WILEMAN,III,BEN C 2200 NW 55TH STREET OKLAHOMA CITY OK 73112 $54,830.22
600124831 ROBIRDS,C. ELAINE 8990 LILLY DRIVE THORNTON CO 80229 $77,692.95
600124832 SUNG,MATHEW T.Y 555 TARTER COURT SAN JOSE CA 95136 $148,632.43
600124833 KIM,CHUNSU 104 SEAN DRIVE DOWNINGTOWN PA 19335 $192,923.22
600124834 PARTA,JANA AKA JANA C CON 107 WEST LAKE MONTGOMERY TX 77359 $174,465.65
600124835 GARDNER,M. TERESA 118 PAWLEY DRIVE SUMMERVILLE SC 29485 $29,547.36
600124836 YANG,JOHN N 4524 FORDER OAKS DRIVE ST. LOUIS MO 63126 $149,148.19
600124838 CHEATHAM,RICHARD C 6331 PEMWOODS SAN ANTONIO TX 78240 $98,666.38
600124839 CHOU,KOU TOUNG 637 MOSSYCUP OAK DRIVE PLANO TX 75025 $89,170.52
600124840 NGUYEN,ELISA HUNG 3014 APOLLO COURT GARLAND TX 75044 $39,043.18
600124841 ROTH,STANLEY G 14 LUAU LANE ROCKPORT TX 78382 $133,853.37
600124842 TRAN,THANH BINH 10803 SILKWOOD DRIVE HOUSTON TX 77031 $54,704.79
600124843 SONG,CHANG S 26952 CALLE ESPERANZA SAN JUAN CAPIST CA 92675 $220,000.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124829 SANDERS,TERRI A 7.250 .250 7.000 .0500 6.950 10/01/2012
600124830 WILEMAN,III,BEN C 7.250 .250 7.000 .0500 6.950 12/01/2012
600124831 ROBIRDS,C. ELAINE 7.625 .250 7.375 .0500 7.325 10/01/2012
600124832 SUNG,MATHEW T.Y 7.500 .250 7.250 .0500 7.200 10/01/2012
600124833 KIM,CHUNSU 8.000 .250 7.750 .0500 7.700 10/01/2012
600124834 PARTA,JANA AKA JANA C CON 7.375 .250 7.125 .0500 7.075 12/01/2012
600124835 GARDNER,M. TERESA 8.000 .250 7.750 .0500 7.700 08/01/2012
600124836 YANG,JOHN N 7.500 .250 7.250 .0500 7.200 12/01/2012
600124838 CHEATHAM,RICHARD C 7.125 .250 6.875 .0500 6.825 10/01/2012
600124839 CHOU,KOU TOUNG 7.375 .250 7.125 .0500 7.075 10/01/2012
600124840 NGUYEN,ELISA HUNG 7.875 .250 7.625 .0500 7.575 10/01/2012
600124841 ROTH,STANLEY G 7.750 .250 7.500 .0500 7.450 12/01/2012
600124842 TRAN,THANH BINH 8.250 .250 8.000 .0500 7.950 08/01/2012
600124843 SONG,CHANG S 7.375 .250 7.125 .0500 7.075 01/01/2013
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600124829 SANDERS,TERRI A 8789245 $628.05 01/01/1998 180
600124830 WILEMAN,III,BEN C 8789563 $502.07 01/01/1998 180
600124831 ROBIRDS,C. ELAINE 8830584 $732.36 01/01/1998 180
600124832 SUNG,MATHEW T.Y 8958567 $1,390.52 01/01/1998 180
600124833 KIM,CHUNSU 8986536 $1,862.57 01/01/1998 180
600124834 PARTA,JANA AKA JANA C CON 9055039 $1,609.87 01/01/1998 180
600124835 GARDNER,M. TERESA 9064233 $301.03 01/01/1998 180
600124836 YANG,JOHN N 9119883 $1,386.81 01/01/1998 180
600124838 CHEATHAM,RICHARD C 9466057 $905.83 01/01/1998 180
600124839 CHOU,KOU TOUNG 9494163 $827.93 01/01/1998 180
600124840 NGUYEN,ELISA HUNG 9494391 $379.38 01/01/1998 180
600124841 ROTH,STANLEY G 9496089 $1,263.66 01/01/1998 180
600124842 TRAN,THANH BINH 9624123 $538.43 01/01/1998 180
600124843 SONG,CHANG S 9631211 $2,023.83 01/01/1998 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>
600124829 SANDERS,TERRI A $86,000.00 N
600124830 WILEMAN,III,BEN C $115,000.00 N
600124831 ROBIRDS,C. ELAINE $98,000.00 N
600124832 SUNG,MATHEW T.Y $310,990.00 N
600124833 KIM,CHUNSU $278,460.00 N
600124834 PARTA,JANA AKA JANA C CON $320,000.00 N
600124835 GARDNER,M. TERESA $42,000.00 N
600124836 YANG,JOHN N $213,720.00 N
600124838 CHEATHAM,RICHARD C $190,000.00 N
600124839 CHOU,KOU TOUNG $184,000.00 N
600124840 NGUYEN,ELISA HUNG $55,000.00 N
600124841 ROTH,STANLEY G $179,000.00 N
600124842 TRAN,THANH BINH $74,000.00 N
600124843 SONG,CHANG S $490,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 77
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124844 HOMA,JOHN C 3006 W. THORNCREST FRANKLIN WI 53132 $96,871.18
600124845 ZHENG,LONGZHE 3778 WHEATSHEAF ROAD HUNTINGDON VALL PA 19006 $163,052.42
600124846 YANG,REN C 40 HILLARY CIRCLE NEW CASTLE DE 19720 $124,256.72
600124847 KNARR,DANIEL R 108 WEST 1230 NORTH #320 PROVO UT 84604 $88,838.84
600124848 ARCHULETA,LLOYD G 358 HONDO SECO ROAD TAOS NM 87513 $58,818.84
600124849 NEVAREZ,ROBERT C 119 EAST GALLAGHER AVENUE LAS CRUCES NM 88001 $33,641.18
600124852 HEINTZINGER,ROBERT G 90 JAMAICA AVENUE PITTSBURGH PA 15229 $117,815.97
600124853 MORITZ,DAN P 398 PEARL ST. BAYFIELD CO 81122 $89,214.52
600124854 LEWIS,FREDRICK W 906 VENHORST RD COLORADO SPRING CO 80920 $99,068.32
600124855 BALDACCINI,DONALD 243 AZALEA STREET PLANTATION KEY FL 33070 $103,041.48
600124856 ALLOUCH,FOUAD S 812 BARBADOS ROAD JACKSONVILLE FL 32216 $59,636.45
600124857 ARMSTRONG,DOLLY 13011 NORTHEAST 136TH STR KIRKLAND WA 98034 $129,611.67
600124858 KUHLMANN,ROBERT A 1041 WEST SADDLEHORN PLAC TUCSON AZ 85737 $89,170.52
600124859 ZAPOTOCKY,THERESA LYNN 1044 S. BRIGHTON AVENUE TUCSON AZ 85711 $48,315.12
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124844 HOMA,JOHN C 7.875 .250 7.625 .0500 7.575 11/01/2012
600124845 ZHENG,LONGZHE 7.875 .250 7.625 .0500 7.575 09/01/2012
600124846 YANG,REN C 7.500 .250 7.250 .0500 7.200 10/01/2012
600124847 KNARR,DANIEL R 7.875 .250 7.625 .0500 7.575 09/01/2012
600124848 ARCHULETA,LLOYD G 8.250 .250 8.000 .0500 7.950 10/01/2012
600124849 NEVAREZ,ROBERT C 6.750 .250 6.500 .0500 6.450 12/01/2012
600124852 HEINTZINGER,ROBERT G 7.500 .250 7.250 .0500 7.200 10/01/2012
600124853 MORITZ,DAN P 8.000 .250 7.750 .0500 7.700 10/01/2012
600124854 LEWIS,FREDRICK W 7.250 .250 7.000 .0500 6.950 10/01/2012
600124855 BALDACCINI,DONALD 7.375 .250 7.125 .0500 7.075 10/01/2012
600124856 ALLOUCH,FOUAD S 7.500 .250 7.250 .0500 7.200 11/01/2012
600124857 ARMSTRONG,DOLLY 7.625 .250 7.375 .0500 7.325 12/01/2012
600124858 KUHLMANN,ROBERT A 7.375 .250 7.125 .0500 7.075 10/01/2012
600124859 ZAPOTOCKY,THERESA LYNN 7.750 .250 7.500 .0500 7.450 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>
600124844 HOMA,JOHN C 9701669 $929.48 01/01/1998 180
600124845 ZHENG,LONGZHE 9738449 $1,564.94 01/01/1998 180
600124846 YANG,REN C 9740537 $1,162.47 01/01/1998 180
600124847 KNARR,DANIEL R 9764111 $852.66 01/01/1998 180
600124848 ARCHULETA,LLOYD G 9777345 $582.08 01/01/1998 180
600124849 NEVAREZ,ROBERT C 9777722 $298.66 01/01/1998 180
600124852 HEINTZINGER,ROBERT G 9834162 $1,102.22 19 01/01/1998 180
600124853 MORITZ,DAN P 9857618 $860.09 19 01/01/1998 180
600124854 LEWIS,FREDRICK W 9858083 $912.86 01/01/1998 180
600124855 BALDACCINI,DONALD 9880110 $956.72 01/01/1998 180
600124856 ALLOUCH,FOUAD S 9891429 $556.21 01/01/1998 180
600124857 ARMSTRONG,DOLLY 9901997 $1,214.37 01/01/1998 180
600124858 KUHLMANN,ROBERT A 9933984 $827.93 01/01/1998 180
600124859 ZAPOTOCKY,THERESA LYNN 9934442 $458.87 01/01/1998 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>
600124844 HOMA,JOHN C $140,000.00 N
600124845 ZHENG,LONGZHE $220,000.00 N
600124846 YANG,REN C $167,251.00 N
600124847 KNARR,DANIEL R $119,900.00 N
600124848 ARCHULETA,LLOYD G $155,000.00 N
600124849 NEVAREZ,ROBERT C $45,500.00 N
600124852 HEINTZINGER,ROBERT G $139,900.00 N
600124853 MORITZ,DAN P $100,000.00 N
600124854 LEWIS,FREDRICK W $189,900.00 N
600124855 BALDACCINI,DONALD $235,000.00 N
600124856 ALLOUCH,FOUAD S $80,000.00 N
600124857 ARMSTRONG,DOLLY $190,000.00 N
600124858 KUHLMANN,ROBERT A $303,492.00 N
600124859 ZAPOTOCKY,THERESA LYNN $65,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 78
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600124860 DAVIES,JEFFREY W 10858 HOPKINS ROAD NELSON OH 44231 $148,690.47
600124861 LOW,JOPIE 4250 N. MARINE DRIVE #260 CHICAGO IL 60613 $90,179.30
600124862 BABINSKY,STEPHEN R 6911 WASHITA WAY SAN ANTONIO TX 78256 $107,829.43
600124863 DILLARD,FRANK H 413 HOOT AVENUE GRAFORD TX 76449 $40,961.08
600124865 BECKWITH,DEAN H 9997 EAST SHORE DRIVE GRAND JUNCTION MI 49056 $84,496.13
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600124860 DAVIES,JEFFREY W 8.000 .250 7.750 .0500 7.700 10/01/2012
600124861 LOW,JOPIE 7.625 .250 7.375 .0500 7.325 10/01/2012
600124862 BABINSKY,STEPHEN R 7.750 .250 7.500 .0500 7.450 10/01/2012
600124863 DILLARD,FRANK H 8.000 .250 7.750 .0500 7.700 11/01/2012
600124865 BECKWITH,DEAN H 7.750 .250 7.500 .0500 7.450 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>
600124860 DAVIES,JEFFREY W 9935218 $1,433.48 01/01/1998 180
600124861 LOW,JOPIE 9939334 $850.06 01/01/1998 180
600124862 BABINSKY,STEPHEN R 9953069 $1,024.11 01/01/1998 180
600124863 DILLARD,FRANK H 9953232 $393.73 01/01/1998 180
600124865 BECKWITH,DEAN H 9990323 $800.08 01/01/1998 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>
600124860 DAVIES,JEFFREY W $200,000.00 N
600124861 LOW,JOPIE $130,000.00 N
600124862 BABINSKY,STEPHEN R $136,500.00 N
600124863 DILLARD,FRANK H $51,500.00 N
600124865 BECKWITH,DEAN H $131,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 79
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 17:54:59 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Grp 4
<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
----- ------- ------- --------- --------- -----
<S> <C> <C> <C> <C> <C> <C>
** POOL
** TOTAL 1083 0 98,675,716.21 160,292,104.00 99,433,451.00 941,172.54
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 1
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116355 Chen,Kenneth L. 155 Moore Road Sudbury MA 01776 $218,251.06
600116357 Garrett,Cathryne M. 9 Toledo Court Hampton VA 23666 $69,679.71
600116358 Cadouw,Solange Guilbaud 8695 Foley Drive Orlando FL 32825 $56,025.39
600116359 Mcdonald,Sharon Thomas 1104 North Meadows Drive Austin TX 78758 $52,475.37
600116360 Clancy,Michael Laurence 4629 EAST EUCLID AVENUE Phoenix AZ 85044 $103,791.53
600116361 GRANT,Billy D. 340 Wayne Drive Hopkinsville KY 42240 $41,983.29
600116362 Rodriguez,Rosa 18801 Collins Avenue #381 Miami FL 33160 $30,055.32
600116363 Munoz,Gary B. 765 Summit Blvd. #3 Big Bear Lake CA 92315 $70,498.33
600116367 Parein,Jean Louis 147 15th Street #6- D Atlanta GA 30309 $94,948.81
600116369 Kagalovsky,Yakov 4808 Bedford Avenue Unit Brooklyn NY 11235 $78,007.72
600116372 Wagner,Roy 23 Old Ivy Square Atlanta GA 30342 $84,962.30
600116373 Jerman,Gretchen G 261 County Road Benson AZ 85602 $36,997.26
600116374 Camping,Marie Y 1511 Farley Street Sturgis SD 57785 $32,154.22
600116375 Combs,Patick R 40 Hoffman Court C-6 Wallingford CT 06492 $18,347.40
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116355 Chen,Kenneth L. 7.875 .250 7.625 .0500 7.575 02/01/2012
600116357 Garrett,Cathryne M. 7.750 .250 7.500 .0500 7.450 02/01/2012
600116358 Cadouw,Solange Guilbaud 9.000 .250 8.750 .0500 8.700 03/01/2012
600116359 Mcdonald,Sharon Thomas 8.625 .250 8.375 .0500 8.325 03/01/2012
600116360 Clancy,Michael Laurence 8.000 .250 7.750 .0500 7.700 04/01/2012
600116361 GRANT,Billy D. 8.875 .250 8.625 .0500 8.575 04/01/2012
600116362 Rodriguez,Rosa 8.875 .250 8.625 .0500 8.575 04/01/2011
600116363 Munoz,Gary B. 8.500 .250 8.250 .0500 8.200 04/01/2012
600116367 Parein,Jean Louis 8.250 .250 8.000 .0500 7.950 04/01/2007
600116369 Kagalovsky,Yakov 8.250 .250 8.000 .0500 7.950 07/01/2012
600116372 Wagner,Roy 8.125 .250 7.875 .0500 7.825 05/01/2012
600116373 Jerman,Gretchen G 9.250 .250 9.000 .0500 8.950 05/01/2012
600116374 Camping,Marie Y 8.500 .250 8.250 .0500 8.200 05/01/2012
600116375 Combs,Patick R 9.125 .250 8.875 .0500 8.825 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>
600116355 Chen,Kenneth L. 241099 $2,141.13 01/01/1998 180
600116357 Garrett,Cathryne M. 253974 $678.66 01/01/1998 180
600116358 Cadouw,Solange Guilbaud 217615 $584.22 01/01/1998 180
600116359 Mcdonald,Sharon Thomas 237285 $535.73 01/01/1998 180
600116360 Clancy,Michael Laurence 237295 $1,024.94 01/01/1998 180
600116361 GRANT,Billy D. 242722 $433.45 01/01/1998 180
600116362 Rodriguez,Rosa 160260 $322.09 01/01/1998 180
600116363 Munoz,Gary B. 232715 $712.46 01/01/1998 180
600116367 Parein,Jean Louis 248633 $1,226.53 01/01/1998 120
600116369 Kagalovsky,Yakov 234532 $776.11 01/01/1998 180
600116372 Wagner,Roy 252757 $837.71 01/01/1998 180
600116373 Jerman,Gretchen G 259145 $389.04 2 01/01/1998 180
600116374 Camping,Marie Y 259135 $323.98 01/01/1998 180
600116375 Combs,Patick R 238597 $191.58 01/01/1998 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>
600116355 Chen,Kenneth L. $322,500.00 N
600116357 Garrett,Cathryne M. $103,000.00 N
600116358 Cadouw,Solange Guilbaud $76,900.00 N
600116359 Mcdonald,Sharon Thomas $90,000.00 N
600116360 Clancy,Michael Laurence $143,000.00 N
600116361 GRANT,Billy D. $61,500.00 N
600116362 Rodriguez,Rosa $52,990.00 N
600116363 Munoz,Gary B. $96,500.00 N
600116367 Parein,Jean Louis $240,000.00 N
600116369 Kagalovsky,Yakov $150,000.00 N
600116372 Wagner,Roy $144,000.00 N
600116373 Jerman,Gretchen G $42,000.00 N
600116374 Camping,Marie Y $47,000.00 N
600116375 Combs,Patick R $25,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 2
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116376 Vasquez,Patrick 1211 Silverway San Antonio TX 78251 $52,411.03
600116377 Yonclas,Nicholas 100 East Gorrie Drive St St. George Isla FL 32328 $146,599.72
600116378 Coulter,Mary R 1842 Calloway Road Marietta GA 30060 $79,203.25
600116379 Clavien,Arnold 257-68 145th Avenue Rosedale NY 11422 $139,791.54
600116381 Kirby,Katherine R 5024 Lovell Avenue Fort Worth TX 76107 $23,705.14
600116382 Mcginty,Lynn A 929 Northwood Unit 179 Incline Village NV 89450 $205,758.53
600116383 Khan,Naeem M. 71 Semton Boulevard Franklin Square NY 11010 $206,113.12
600116384 Jimenez,Pedro 3300 Pershing Drive El Paso TX 79903 $44,600.68
600116385 Don,Edward M 2524 Comstock Street San Diego CA 92111 $73,501.48
600116386 Amuzzini,John R 1095 Peninsula Drive Ormond Beach FL 32174 $75,610.37
600116387 Maddox, Jr.,James 165-20 116th Avenue Jamaica NY 11434 $116,673.43
600116388 Rodriguez,Pablo 10332 Luella Avenue El Paso TX 79925 $35,928.65
600116389 Champagne,George A 3 Maple Street Townsend MA 01469 $24,537.26
600116391 Hinrichs,Lisa E 1897 Georgianna Street Largo FL 33774 $40,483.70
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116376 Vasquez,Patrick 8.750 .250 8.500 .0500 8.450 05/01/2012
600116377 Yonclas,Nicholas 8.500 .250 8.250 .0500 8.200 05/01/2012
600116378 Coulter,Mary R 8.750 .250 8.500 .0500 8.450 05/01/2012
600116379 Clavien,Arnold 10.500 .250 10.250 .0500 10.200 05/01/2012
600116381 Kirby,Katherine R 8.625 .250 8.375 .0500 8.325 05/01/2012
600116382 Mcginty,Lynn A 8.250 .250 8.000 .0500 7.950 06/01/2012
600116383 Khan,Naeem M. 9.250 .250 9.000 .0500 8.950 06/01/2012
600116384 Jimenez,Pedro 8.500 .250 8.250 .0500 8.200 06/01/2012
600116385 Don,Edward M 8.375 .250 8.125 .0500 8.075 06/01/2012
600116386 Amuzzini,John R 8.375 .250 8.125 .0500 8.075 06/01/2012
600116387 Maddox, Jr.,James 8.625 .250 8.375 .0500 8.325 06/01/2012
600116388 Rodriguez,Pablo 8.625 .250 8.375 .0500 8.325 06/01/2012
600116389 Champagne,George A 9.250 .250 9.000 .0500 8.950 06/01/2012
600116391 Hinrichs,Lisa E 8.500 .250 8.250 .0500 8.200 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>
600116376 Vasquez,Patrick 252766 $535.71 01/01/1998 180
600116377 Yonclas,Nicholas 263266 $1,477.11 01/01/1998 180
600116378 Coulter,Mary R 252785 $809.55 01/01/1998 180
600116379 Clavien,Arnold 228397 $1,575.20 01/01/1998 180
600116381 Kirby,Katherine R 252769 $243.06 01/01/1998 180
600116382 Mcginty,Lynn A 252776 $2,037.29 01/01/1998 180
600116383 Khan,Naeem M. 228129 $2,161.31 01/01/1998 180
600116384 Jimenez,Pedro 252759 $448.06 01/01/1998 180
600116385 Don,Edward M 252794 $733.07 01/01/1998 180
600116386 Amuzzini,John R 253264 $762.39 01/01/1998 180
600116387 Maddox, Jr.,James 259116 $1,180.58 01/01/1998 180
600116388 Rodriguez,Pablo 254261 $372.04 01/01/1998 180
600116389 Champagne,George A 259244 $257.30 01/01/1998 180
600116391 Hinrichs,Lisa E 257562 $406.70 01/01/1998 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>
600116376 Vasquez,Patrick $67,000.00 N
600116377 Yonclas,Nicholas $300,000.00 N
600116378 Coulter,Mary R $108,000.00 N
600116379 Clavien,Arnold $180,000.00 N
600116381 Kirby,Katherine R $34,500.00 N
600116382 Mcginty,Lynn A $300,000.00 N
600116383 Khan,Naeem M. $280,000.00 N
600116384 Jimenez,Pedro $69,000.00 N
600116385 Don,Edward M $140,000.00 N
600116386 Amuzzini,John R $120,000.00 N
600116387 Maddox, Jr.,James $154,000.00 N
600116388 Rodriguez,Pablo $50,000.00 N
600116389 Champagne,George A $82,000.00 N
600116391 Hinrichs,Lisa E $63,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 3
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116392 Sparger,Sammy W 5605 Phelps Street Lewisville TX 75056 $44,167.08
600116393 Samuel,Oommen V 299 North 59th Avenue Hollywood FL 33021 $62,517.15
600116394 Boardman,David H 3047 S. Atlantic Avenue, Daytona Beach FL 32118 $58,814.16
600116395 Balin,Nora A 7024 East Pershing Avenue Scottsdale AZ 85254 $63,560.40
600116396 Burgess Jr,James T 9753 Bragg Lane Manassas VA 22110 $31,616.67
600116397 Buiza,Alfonso 755 Los Robles Avenue Palo Alto CA 94306 $194,587.27
600116398 SERRANO,DAVID JESUS 15750 Sw 105th Court Miami FL 33157 $63,912.33
600116399 Eisner,David F 3091 South Grape Way Denver CO 80222 $55,949.41
600116400 Tatum,Kathy M 1067 Standard Drive Atlanta GA 30319 $117,628.23
600116401 Pak,Hyong Hwan 3831 Boswellia Drive Bakersfield CA 93311 $92,619.55
600116402 Madonna,Bruce 30 Falmouth Drive Mount Sinai NY 11766 $98,149.12
600116403 Tomlinson,Mark 16719 Ledgestone Drive San Antonio TX 78232 $83,283.20
600116404 Summerford,Ricky L 5833 Pecan Trace Memphis TN 38135 $39,226.45
600116405 Pilafian,Peter 25 South Fall Creek Road Wilson WY 83014 $132,255.70
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116392 Sparger,Sammy W 9.250 .250 9.000 .0500 8.950 06/01/2012
600116393 Samuel,Oommen V 8.750 .250 8.500 .0500 8.450 06/01/2012
600116394 Boardman,David H 8.500 .250 8.250 .0500 8.200 06/01/2012
600116395 Balin,Nora A 8.375 .250 8.125 .0500 8.075 06/01/2012
600116396 Burgess Jr,James T 9.000 .250 8.750 .0500 8.700 06/01/2012
600116397 Buiza,Alfonso 7.875 .250 7.625 .0500 7.575 06/01/2012
600116398 SERRANO,DAVID JESUS 8.375 .250 8.125 .0500 8.075 06/01/2012
600116399 Eisner,David F 8.625 .250 8.375 .0500 8.325 06/01/2012
600116400 Tatum,Kathy M 8.500 .250 8.250 .0500 8.200 06/01/2012
600116401 Pak,Hyong Hwan 8.125 .250 7.875 .0500 7.825 06/01/2012
600116402 Madonna,Bruce 9.250 .250 9.000 .0500 8.950 06/01/2012
600116403 Tomlinson,Mark 8.250 .250 8.000 .0500 7.950 06/01/2012
600116404 Summerford,Ricky L 8.750 .250 8.500 .0500 8.450 06/01/2012
600116405 Pilafian,Peter 8.500 .250 8.250 .0500 8.200 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>
600116392 Sparger,Sammy W 259113 $463.14 12 01/01/1998 180
600116393 Samuel,Oommen V 259234 $637.15 01/01/1998 180
600116394 Boardman,David H 259142 $590.84 01/01/1998 180
600116395 Balin,Nora A 252775 $635.33 01/01/1998 180
600116396 Burgess Jr,James T 249817 $328.63 01/01/1998 180
600116397 Buiza,Alfonso 257336 $1,896.90 01/01/1998 180
600116398 SERRANO,DAVID JESUS 257513 $641.19 01/01/1998 180
600116399 Eisner,David F 252791 $570.45 01/01/1998 180
600116400 Tatum,Kathy M 252781 $1,181.69 01/01/1998 180
600116401 Pak,Hyong Hwan 253602 $910.41 01/01/1998 180
600116402 Madonna,Bruce 242643 $1,029.19 01/01/1998 180
600116403 Tomlinson,Mark 253598 $824.62 01/01/1998 180
600116404 Summerford,Ricky L 259107 $399.78 01/01/1998 180
600116405 Pilafian,Peter 259122 $1,329.40 01/01/1998 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>
600116392 Sparger,Sammy W $50,000.00 N
600116393 Samuel,Oommen V $85,000.00 N
600116394 Boardman,David H $90,000.00 N
600116395 Balin,Nora A $197,000.00 N
600116396 Burgess Jr,James T $40,550.00 N
600116397 Buiza,Alfonso $455,000.00 N
600116398 SERRANO,DAVID JESUS $82,000.00 N
600116399 Eisner,David F $100,000.00 N
600116400 Tatum,Kathy M $175,000.00 N
600116401 Pak,Hyong Hwan $118,244.00 N
600116402 Madonna,Bruce $150,000.00 N
600116403 Tomlinson,Mark $141,000.00 N
600116404 Summerford,Ricky L $101,500.00 N
600116405 Pilafian,Peter $355,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 4
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116406 Duncan,Larry Stephen 123 Hacienda Lane Woodland CA 95695 $113,756.63
600116407 Barlow,Michael 7716 Backer Road San Diego CA 92126 $113,789.66
600116408 Tang,Chyi Yan 18660 Sunset Blvd Livonia MI 48152 $91,789.87
600116409 Prashaw,Sandra L 4412 West Pondview Drive Littleton CO 80123 $72,006.52
600116410 Quan,Thanh 853-853 1/2 Dawson Avenue Long Beach CA 90804 $99,313.24
600116411 Wylie,Jeri Lynn 5099 Deerwood Drive Santa Rosa CA 95403 $55,810.90
600116412 Chao,Lance L. 709 Lee Street Unit #3 Mesquite TX 75149 $23,172.72
600116413 Mehr,Bijan 181 Mount Blue Street Norwell MA 02061 $156,768.34
600116414 James,John K 4100 N. Cabrillo Hwy, 312 Half Moon Bay CA 94019 $161,738.87
600116415 Culver,Job S. 590 Woodgate Circle, Unit Fort Lauderdale FL 33326 $58,369.99
600116416 JEHLESEVERALTY,Robert E 1855 Chalcis Drive #c Lafayette CO 80026 $51,451.28
600116417 Jimerson Jr,Allen 1627 South 19th Avenue Maywood IL 60153 $65,991.33
600116418 Treacy,Terence Patrick 2353 Abbot Kinney Bouleva Venice CA 90291 $136,963.55
600116419 Bullara, Jr.,Peter Mario 610 Chisholm Valley Drive Round Rock TX 78681 $59,722.23
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116406 Duncan,Larry Stephen 8.750 .250 8.500 .0500 8.450 06/01/2012
600116407 Barlow,Michael 8.625 .250 8.375 .0500 8.325 06/01/2012
600116408 Tang,Chyi Yan 8.750 .250 8.500 .0500 8.450 06/01/2012
600116409 Prashaw,Sandra L 8.875 .250 8.625 .0500 8.575 06/01/2012
600116410 Quan,Thanh 8.875 .250 8.625 .0500 8.575 06/01/2012
600116411 Wylie,Jeri Lynn 7.875 .250 7.625 .0500 7.575 06/01/2012
600116412 Chao,Lance L. 9.500 .250 9.250 .0500 9.200 06/01/2012
600116413 Mehr,Bijan 8.250 .250 8.000 .0500 7.950 06/01/2012
600116414 James,John K 8.500 .250 8.250 .0500 8.200 06/01/2012
600116415 Culver,Job S. 8.500 .250 8.250 .0500 8.200 06/01/2012
600116416 JEHLESEVERALTY,Robert E 9.500 .250 9.250 .0500 9.200 06/01/2012
600116417 Jimerson Jr,Allen 8.500 .250 8.250 .0500 8.200 06/01/2012
600116418 Treacy,Terence Patrick 7.875 .250 7.625 .0500 7.575 06/01/2012
600116419 Bullara, Jr.,Peter Mario 8.750 .250 8.500 .0500 8.450 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>
600116406 Duncan,Larry Stephen 253589 $1,159.37 01/01/1998 180
600116407 Barlow,Michael 253604 $1,158.76 01/01/1998 180
600116408 Tang,Chyi Yan 253681 $935.49 01/01/1998 180
600116409 Prashaw,Sandra L 253656 $755.14 01/01/1998 180
600116410 Quan,Thanh 253541 $1,019.43 01/01/1998 180
600116411 Wylie,Jeri Lynn 253584 $540.62 01/01/1998 180
600116412 Chao,Lance L. 254871 $246.44 01/01/1998 180
600116413 Mehr,Bijan 259101 $1,552.23 01/01/1998 180
600116414 James,John K 244315 $1,624.82 01/01/1998 180
600116415 Culver,Job S. 253624 $606.60 01/01/1998 180
600116416 JEHLESEVERALTY,Robert E 253648 $547.18 01/01/1998 180
600116417 Jimerson Jr,Allen 252796 $669.62 01/01/1998 180
600116418 Treacy,Terence Patrick 253486 $1,327.83 01/01/1998 180
600116419 Bullara, Jr.,Peter Mario 253579 $608.67 01/01/1998 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>
600116406 Duncan,Larry Stephen $145,000.00 N
600116407 Barlow,Michael $146,000.00 N
600116408 Tang,Chyi Yan $124,900.00 N
600116409 Prashaw,Sandra L $110,000.00 N
600116410 Quan,Thanh $135,000.00 N
600116411 Wylie,Jeri Lynn $250,000.00 N
600116412 Chao,Lance L. $31,500.00 N
600116413 Mehr,Bijan $200,000.00 N
600116414 James,John K $275,000.00 N
600116415 Culver,Job S. $88,000.00 N
600116416 JEHLESEVERALTY,Robert E $65,600.00 N
600116417 Jimerson Jr,Allen $100,000.00 N
600116418 Treacy,Terence Patrick $175,000.00 N
600116419 Bullara, Jr.,Peter Mario $78,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 5
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116420 Luong,Va Tong 927 East 23rd Street Oakland CA 94606 $83,846.54
600116421 Hindley,Laurence Allen 641 Spring Street Fortuna CA 95540 $56,375.80
600116422 Bohnert,Michael A 12940 Isanti Street Ne Minneapolis MN 55449 $125,470.13
600116423 Lasorsa,William G 6121 East 91st Place Sout Tulsa OK 74137 $63,574.46
600116424 Seibert,Robert Lee 100 Woodmere Drive tonawanda NY 14150 $84,747.31
600116425 Engle,John Paul Rt 9 Box 4718, Sh 103e Lufkin TX 75901 $58,765.06
600116426 Punzi,Henry A 17315 Stedman Circle Dallas TX 75252 $170,485.65
600116428 Mountcastle,Dennis W 9440 Townsend Road Providence Forg VA 23140 $54,940.47
600116429 Avila,Luis 421 Hoffman Hammond IN 46323 $40,486.46
600116430 Camp,William H 47 & 49 Topper Lane Rossville GA 30741 $36,766.84
600116431 Camp,William H 46 & 48 Topper Lane Rossville GA 30741 $33,090.15
600116432 Camp,William H 21 & 23 Topper Lane Rossville GA 30741 $33,090.15
600116434 Prieto,Anastacio Arnoldo 1865 Lyman Dutton Circle El Paso TX 79936 $29,076.06
600116435 Bhutta,Paramjit 6320 Ventura Street Sacramento CA 95822 $66,684.91
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116420 Luong,Va Tong 8.750 .250 8.500 .0500 8.450 06/01/2012
600116421 Hindley,Laurence Allen 8.625 .250 8.375 .0500 8.325 06/01/2012
600116422 Bohnert,Michael A 8.500 .250 8.250 .0500 8.200 06/01/2012
600116423 Lasorsa,William G 9.250 .250 9.000 .0500 8.950 06/01/2012
600116424 Seibert,Robert Lee 8.875 .250 8.625 .0500 8.575 06/01/2012
600116425 Engle,John Paul 8.500 .250 8.250 .0500 8.200 06/01/2012
600116426 Punzi,Henry A 8.250 .250 8.000 .0500 7.950 06/01/2012
600116428 Mountcastle,Dennis W 9.000 .250 8.750 .0500 8.700 06/01/2012
600116429 Avila,Luis 9.250 .250 9.000 .0500 8.950 06/01/2012
600116430 Camp,William H 8.625 .250 8.375 .0500 8.325 06/01/2012
600116431 Camp,William H 8.625 .250 8.375 .0500 8.325 06/01/2012
600116432 Camp,William H 8.625 .250 8.375 .0500 8.325 06/01/2012
600116434 Prieto,Anastacio Arnoldo 8.750 .250 8.500 .0500 8.450 06/01/2012
600116435 Bhutta,Paramjit 8.750 .250 8.500 .0500 8.450 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>
600116420 Luong,Va Tong 253591 $854.53 01/01/1998 180
600116421 Hindley,Laurence Allen 253619 $570.45 01/01/1998 180
600116422 Bohnert,Michael A 253661 $1,260.47 1 01/01/1998 180
600116423 Lasorsa,William G 259130 $676.18 14 01/01/1998 180
600116424 Seibert,Robert Lee 238808 $869.91 01/01/1998 180
600116425 Engle,John Paul 253520 $590.36 01/01/1998 180
600116426 Punzi,Henry A 259259 $1,688.04 01/01/1998 180
600116428 Mountcastle,Dennis W 241754 $567.99 01/01/1998 180
600116429 Avila,Luis 253559 $424.55 01/01/1998 180
600116430 Camp,William H 250061 $372.03 01/01/1998 180
600116431 Camp,William H 258947 $334.83 01/01/1998 180
600116432 Camp,William H 259021 $334.83 01/01/1998 180
600116434 Prieto,Anastacio Arnoldo 252783 $296.34 01/01/1998 180
600116435 Bhutta,Paramjit 253513 $679.63 01/01/1998 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>
600116420 Luong,Va Tong $140,000.00 N
600116421 Hindley,Laurence Allen $81,000.00 N
600116422 Bohnert,Michael A $136,000.00 N
600116423 Lasorsa,William G $73,000.00 N
600116424 Seibert,Robert Lee $116,000.00 N
600116425 Engle,John Paul $89,950.00 N
600116426 Punzi,Henry A $220,000.00 N
600116428 Mountcastle,Dennis W $82,500.00 N
600116429 Avila,Luis $55,000.00 N
600116430 Camp,William H $50,000.00 N
600116431 Camp,William H $45,000.00 N
600116432 Camp,William H $45,000.00 N
600116434 Prieto,Anastacio Arnoldo $80,000.00 N
600116435 Bhutta,Paramjit $86,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 6
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116436 Boyer,Kendall L. 9 Blue Fox Road The Woodlands TX 77380 $48,675.04
600116437 Norman,Leslie Renee 225 Arthur Drive Hurst TX 76053 $36,856.82
600116438 Ganim,Victor K 3934 Eastland Avenue Greensboro NC 27401 $26,363.85
600116439 Gibboney,Donald L 193 27 Road Grand Junction CO 81503 $146,904.27
600116440 Jenkins,Purcel R 756 Cedar Grove Rd Winchester VA 22603 $49,043.51
600116441 Hurst,Chad G 8 Windsor Court Millersville PA 17551 $61,748.52
600116442 Roberts,Dennis M 1407 Tiki Drive Galveston TX 77554 $107,338.11
600116443 Loew,Richard A 1854 West Main Houston TX 77098 $139,774.13
600116445 Aragon,Cesar 4722 Darlene Way Tucker GA 30084 $109,786.36
600116446 Skinsacos,Elizabeth 591 Wilder Street Lowell MA 01851 $70,008.38
600116447 Cataldi,Ricardo L 334 Spring Street Reading PA 19601 $42,150.10
600116448 Zurcher,Russell 129 N Arlington Akron OH 44305 $36,021.78
600116450 Zanyk,Lois F. 345 North Homsy Avenue Fresno CA 93727 $115,221.53
600116451 Karpinski,Vincent B 1016 Hassett Avenue Las Vegas NV 89104 $57,730.51
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116436 Boyer,Kendall L. 9.500 .250 9.250 .0500 9.200 06/01/2012
600116437 Norman,Leslie Renee 8.500 .250 8.250 .0500 8.200 06/01/2012
600116438 Ganim,Victor K 8.500 .250 8.250 .0500 8.200 06/01/2012
600116439 Gibboney,Donald L 8.000 .250 7.750 .0500 7.700 06/01/2012
600116440 Jenkins,Purcel R 8.875 .250 8.625 .0500 8.575 06/01/2012
600116441 Hurst,Chad G 9.375 .250 9.125 .0500 9.075 06/01/2012
600116442 Roberts,Dennis M 8.000 .250 7.750 .0500 7.700 06/01/2012
600116443 Loew,Richard A 8.875 .250 8.625 .0500 8.575 06/01/2012
600116445 Aragon,Cesar 8.500 .250 8.250 .0500 8.200 06/01/2012
600116446 Skinsacos,Elizabeth 7.875 .250 7.625 .0500 7.575 06/01/2012
600116447 Cataldi,Ricardo L 8.500 .250 8.250 .0500 8.200 06/01/2012
600116448 Zurcher,Russell 8.875 .250 8.625 .0500 8.575 06/01/2012
600116450 Zanyk,Lois F. 8.500 .250 8.250 .0500 8.200 07/01/2012
600116451 Karpinski,Vincent B 8.750 .250 8.500 .0500 8.450 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>
600116436 Boyer,Kendall L. 255293 $517.94 01/01/1998 180
600116437 Norman,Leslie Renee 257350 $370.27 01/01/1998 180
600116438 Ganim,Victor K 259139 $265.88 18 01/01/1998 180
600116439 Gibboney,Donald L 259193 $1,433.48 01/01/1998 180
600116440 Jenkins,Purcel R 252069 $503.43 01/01/1998 180
600116441 Hurst,Chad G 253688 $652.09 7 01/01/1998 180
600116442 Roberts,Dennis M 259214 $1,047.39 01/01/1998 180
600116443 Loew,Richard A 253595 $1,434.76 12 01/01/1998 180
600116445 Aragon,Cesar 257343 $1,102.91 01/01/1998 180
600116446 Skinsacos,Elizabeth 259343 $678.15 01/01/1998 180
600116447 Cataldi,Ricardo L 253667 $423.44 01/01/1998 180
600116448 Zurcher,Russell 255306 $402.74 01/01/1998 180
600116450 Zanyk,Lois F. 250437 $1,154.12 01/01/1998 180
600116451 Karpinski,Vincent B 253505 $586.68 01/01/1998 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>
600116436 Boyer,Kendall L. $62,000.00 N
600116437 Norman,Leslie Renee $47,000.00 N
600116438 Ganim,Victor K $30,000.00 N
600116439 Gibboney,Donald L $220,000.00 N
600116440 Jenkins,Purcel R $120,000.00 N
600116441 Hurst,Chad G $69,900.00 N
600116442 Roberts,Dennis M $137,000.00 N
600116443 Loew,Richard A $150,000.00 N
600116445 Aragon,Cesar $140,000.00 N
600116446 Skinsacos,Elizabeth $110,000.00 N
600116447 Cataldi,Ricardo L $70,000.00 N
600116448 Zurcher,Russell $53,500.00 N
600116450 Zanyk,Lois F. $146,500.00 N
600116451 Karpinski,Vincent B $80,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 7
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116452 Dawson,Charles M 537 539 11th Avenue Escondido CA 92025 $73,720.05
600116453 Gonzales,Danny R. 311 East 9th Street Hanford CA 93230 $50,139.06
600116454 Burgess, Jr,James T 9862 Buckner Road Manassas VA 20110 $30,955.63
600116455 Binder,E. Marcella 16490 West 51st Avenue Golden CO 80403 $137,563.95
600116456 Kamer,William J 3915 East Shangri La Road Phoenix AZ 85028 $89,357.10
600116457 Hagen,David N 581 N E 33rd Street Oakland Park FL 33334 $54,051.11
600116458 Morrissette,Raymond J 209 America Condo Unit 20 Newport RI 02840 $137,687.82
600116460 Tran,Bob A 2255 Palmwood Court Rancho Cordova CA 95670 $95,545.11
600116461 Federman,Elliot S 3408 Pancho Way Lake Worth FL 33467 $134,661.93
600116462 Ginart, Jr.,Michael C. 3429 Packenham Drive Chalmette LA 70043 $65,073.26
600116464 Tabibian,Masood 9307 Rodgers Road Houston TX 77070 $92,494.08
600116465 Gefell,Paul J 116 Enterprise Street Rochester NY 14619 $23,624.88
600116467 Storm,Randall 10860 Nandina Road Apple Valley CA 92308 $53,491.61
600116468 Misca,Dumitru 8551 Gatehouse Road Fort Lauderdale FL 33324 $117,952.10
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116452 Dawson,Charles M 8.375 .250 8.125 .0500 8.075 07/01/2012
600116453 Gonzales,Danny R. 8.500 .250 8.250 .0500 8.200 07/01/2012
600116454 Burgess, Jr,James T 9.000 .250 8.750 .0500 8.700 07/01/2012
600116455 Binder,E. Marcella 8.500 .250 8.250 .0500 8.200 07/01/2012
600116456 Kamer,William J 8.250 .250 8.000 .0500 7.950 07/01/2012
600116457 Hagen,David N 8.250 .250 8.000 .0500 7.950 07/01/2012
600116458 Morrissette,Raymond J 8.750 .250 8.500 .0500 8.450 07/01/2012
600116460 Tran,Bob A 8.375 .250 8.125 .0500 8.075 07/01/2012
600116461 Federman,Elliot S 8.375 .250 8.125 .0500 8.075 07/01/2012
600116462 Ginart, Jr.,Michael C. 8.375 .250 8.125 .0500 8.075 06/01/2012
600116464 Tabibian,Masood 8.375 .250 8.125 .0500 8.075 07/01/2012
600116465 Gefell,Paul J 9.375 .250 9.125 .0500 9.075 07/01/2012
600116467 Storm,Randall 8.625 .250 8.375 .0500 8.325 07/01/2012
600116468 Misca,Dumitru 8.375 .250 8.125 .0500 8.075 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>
600116452 Dawson,Charles M 261858 $733.07 01/01/1998 180
600116453 Gonzales,Danny R. 248272 $502.22 01/01/1998 180
600116454 Burgess, Jr,James T 253098 $320.51 01/01/1998 180
600116455 Binder,E. Marcella 257325 $1,378.64 01/01/1998 180
600116456 Kamer,William J 257335 $924.06 01/01/1998 180
600116457 Hagen,David N 261950 $533.58 01/01/1998 180
600116458 Morrissette,Raymond J 253615 $1,399.23 01/01/1998 180
600116460 Tran,Bob A 258450 $950.10 01/01/1998 180
600116461 Federman,Elliot S 255847 $1,339.08 01/01/1998 180
600116462 Ginart, Jr.,Michael C. 259347 $649.02 12 01/01/1998 180
600116464 Tabibian,Masood 280037 $919.76 01/01/1998 180
600116465 Gefell,Paul J 243350 $248.81 01/01/1998 180
600116467 Storm,Randall 255717 $539.70 01/01/1998 180
600116468 Misca,Dumitru 258872 $1,172.91 01/01/1998 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>
600116452 Dawson,Charles M $124,000.00 N
600116453 Gonzales,Danny R. $68,000.00 N
600116454 Burgess, Jr,James T $39,500.00 N
600116455 Binder,E. Marcella $198,000.00 N
600116456 Kamer,William J $127,000.00 N
600116457 Hagen,David N $94,000.00 N
600116458 Morrissette,Raymond J $192,000.00 N
600116460 Tran,Bob A $135,000.00 N
600116461 Federman,Elliot S $200,000.00 N
600116462 Ginart, Jr.,Michael C. $85,000.00 N
600116464 Tabibian,Masood $117,672.00 N
600116465 Gefell,Paul J $44,000.00 N
600116467 Storm,Randall $68,000.00 N
600116468 Misca,Dumitru $290,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 8
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116469 Musch,Jeanie F 1914 53rd Street Temple TX 76504 $39,801.26
600116470 Medlin,Larry D 1424 Westbrook Avenue Odessa TX 79761 $48,172.84
600116472 Hogan,Jeffrey 606 S 3rd Street Carolina Beach NC 28428 $105,619.24
600116473 Gefell,Paul J 61-63 Flanders Ave Rochester NY 14619 $27,567.23
600116474 Richardson,Scott R 78 Sayne Street Rochester NY 14621 $40,935.29
600116475 Fleming,Frederick R 403 Anna Marie Drive CRANBERRY TOWNS PA 16066 $78,604.71
600116477 Holmes,Richard Phill 142 E. Thirteen Mile Rd Royal Oak MI 48073 $61,970.84
600116478 Casey,Richard W 233 ABC&G Livingston Stre Troy NY 12180 $73,226.38
600116479 Dodson,Steven 6300 S Pointe Villas #126 Fort Myers FL 33919 $29,880.84
600116480 Alamiri,Maythem N 6080 Penrod Street Detroit MI 48228 $39,037.09
600116481 Peairs,Roy S. 4903-4907 Arrowood Court Salem OR 97301 $78,229.63
600116482 Wright, Jr.,Charles E. 7 River Bend Villas Matagorda TX 77457 $56,048.23
600116483 Harris,Bobby L. 836 Lincoln Lapeer MI 48446 $39,332.05
600116484 Jakubowski,Robert G 13145 Parrish Gap Rd Turner OR 97392 $98,223.65
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116469 Musch,Jeanie F 8.250 .250 8.000 .0500 7.950 07/01/2012
600116470 Medlin,Larry D 8.500 .250 8.250 .0500 8.200 07/01/2012
600116472 Hogan,Jeffrey 8.250 .250 8.000 .0500 7.950 07/01/2012
600116473 Gefell,Paul J 9.500 .250 9.250 .0500 9.200 07/01/2012
600116474 Richardson,Scott R 9.125 .250 8.875 .0500 8.825 07/01/2012
600116475 Fleming,Frederick R 8.125 .250 7.875 .0500 7.825 07/01/2012
600116477 Holmes,Richard Phill 8.875 .250 8.625 .0500 8.575 07/01/2012
600116478 Casey,Richard W 9.500 .250 9.250 .0500 9.200 07/01/2012
600116479 Dodson,Steven 9.500 .250 9.250 .0500 9.200 07/01/2012
600116480 Alamiri,Maythem N 8.625 .250 8.375 .0500 8.325 07/01/2012
600116481 Peairs,Roy S. 9.125 .250 8.875 .0500 8.825 07/01/2012
600116482 Wright, Jr.,Charles E. 8.625 .250 8.375 .0500 8.325 07/01/2012
600116483 Harris,Bobby L. 8.625 .250 8.375 .0500 8.325 07/01/2012
600116484 Jakubowski,Robert G 8.375 .250 8.125 .0500 8.075 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>
600116469 Musch,Jeanie F 259197 $392.91 12 01/01/1998 180
600116470 Medlin,Larry D 259209 $482.52 12 01/01/1998 180
600116472 Hogan,Jeffrey 257339 $1,067.15 01/01/1998 180
600116473 Gefell,Paul J 243346 $292.38 01/01/1998 180
600116474 Richardson,Scott R 239519 $425.03 01/01/1998 180
600116475 Fleming,Frederick R 253362 $770.31 01/01/1998 180
600116477 Holmes,Richard Phill 255284 $634.32 01/01/1998 180
600116478 Casey,Richard W 245831 $783.17 01/01/1998 180
600116479 Dodson,Steven 255693 $316.93 01/01/1998 180
600116480 Alamiri,Maythem N 253962 $393.86 01/01/1998 180
600116481 Peairs,Roy S. 255303 $812.27 01/01/1998 180
600116482 Wright, Jr.,Charles E. 259351 $565.49 01/01/1998 180
600116483 Harris,Bobby L. 255304 $396.84 01/01/1998 180
600116484 Jakubowski,Robert G 248375 $977.43 01/01/1998 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>
600116469 Musch,Jeanie F $45,000.00 N
600116470 Medlin,Larry D $54,500.00 N
600116472 Hogan,Jeffrey $145,000.00 N
600116473 Gefell,Paul J $40,000.00 N
600116474 Richardson,Scott R $52,000.00 N
600116475 Fleming,Frederick R $124,500.00 N
600116477 Holmes,Richard Phill $105,000.00 N
600116478 Casey,Richard W $143,000.00 N
600116479 Dodson,Steven $40,500.00 N
600116480 Alamiri,Maythem N $50,000.00 N
600116481 Peairs,Roy S. $119,000.00 N
600116482 Wright, Jr.,Charles E. $77,000.00 N
600116483 Harris,Bobby L. $92,500.00 N
600116484 Jakubowski,Robert G $308,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 9
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116485 Pineda,Jose 7251 S W 158 Place Miami FL 33193 $81,076.63
600116487 Mccleary,Terry B. Rd 2 Box 2457 Snyder Mill Spring Grove PA 17362 $132,101.23
600116489 Gill,G. Stephen 1410 S. Marion Denver CO 80210 $98,236.88
600116490 Peterson,David J 10242 Nw 54 Place Coral Springs FL 33065 $127,781.45
600116491 Shah,Jayesh 3039 Sleepy Hollow Drive Sugar Land TX 77479 $58,033.77
600116494 Pendergraft,Mike 9450 North 3rd Drive Phoenix AZ 85021 $55,753.27
600116495 Yen,Chin-tien 920 Kennebec Street Pittsburgh PA 15217 $39,346.58
600116497 Abbas,Ali Saleh 580 Alieen Street Oakland CA 94609 $122,699.19
600116498 Poulter,Clarence Cody 1114 Nelson Road Raton NM 87740 $96,054.94
600116499 Coast,Charleen L 652 Ivy Woods Circle Webster NY 14580 $78,678.76
600116500 Neiman,Herbert B 6 Edgewood Terrace Castleton On Hu NY 12033 $73,801.55
600116501 Greenspan,Richard C 3451 NW 20th Avenue Fort Lauderdale FL 33309 $95,879.23
600116502 Linehan,Michael H. 1535 Palmer Court Dixon CA 95620 $85,482.63
600116503 Kaur,Kulwant 91 - 47 114th Street Jamaica NY 11418 $162,153.28
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116485 Pineda,Jose 8.250 .250 8.000 .0500 7.950 07/01/2012
600116487 Mccleary,Terry B. 8.625 .250 8.375 .0500 8.325 07/01/2012
600116489 Gill,G. Stephen 8.000 .250 7.750 .0500 7.700 07/01/2012
600116490 Peterson,David J 8.375 .250 8.125 .0500 8.075 07/01/2012
600116491 Shah,Jayesh 7.875 .250 7.625 .0500 7.575 07/01/2012
600116494 Pendergraft,Mike 8.625 .250 8.375 .0500 8.325 07/01/2012
600116495 Yen,Chin-tien 8.875 .250 8.625 .0500 8.575 07/01/2012
600116497 Abbas,Ali Saleh 7.500 .250 7.250 .0500 7.200 07/01/2012
600116498 Poulter,Clarence Cody 8.625 .250 8.375 .0500 8.325 07/01/2012
600116499 Coast,Charleen L 8.750 .250 8.500 .0500 8.450 07/01/2012
600116500 Neiman,Herbert B 9.125 .250 8.875 .0500 8.825 07/01/2012
600116501 Greenspan,Richard C 8.000 .250 7.750 .0500 7.700 07/01/2012
600116502 Linehan,Michael H. 8.125 .250 7.875 .0500 7.825 07/01/2012
600116503 Kaur,Kulwant 8.250 .250 8.000 .0500 7.950 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>
600116485 Pineda,Jose 248937 $800.37 01/01/1998 180
600116487 Mccleary,Terry B. 255310 $1,339.31 01/01/1998 180
600116489 Gill,G. Stephen 255299 $955.66 01/01/1998 180
600116490 Peterson,David J 256970 $1,270.65 01/01/1998 180
600116491 Shah,Jayesh 261899 $569.07 01/01/1998 180
600116494 Pendergraft,Mike 250825 $562.51 2 01/01/1998 180
600116495 Yen,Chin-tien 262372 $402.74 01/01/1998 180
600116497 Abbas,Ali Saleh 250783 $1,158.77 01/01/1998 180
600116498 Poulter,Clarence Cody 254669 $972.24 01/01/1998 180
600116499 Coast,Charleen L 246395 $799.56 01/01/1998 180
600116500 Neiman,Herbert B 246864 $766.29 01/01/1998 180
600116501 Greenspan,Richard C 259622 $932.72 01/01/1998 180
600116502 Linehan,Michael H. 259831 $837.71 01/01/1998 180
600116503 Kaur,Kulwant 237056 $1,600.74 01/01/1998 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>
600116485 Pineda,Jose $131,500.00 N
600116487 Mccleary,Terry B. $180,000.00 N
600116489 Gill,G. Stephen $253,000.00 N
600116490 Peterson,David J $230,000.00 N
600116491 Shah,Jayesh $75,000.00 N
600116494 Pendergraft,Mike $63,000.00 N
600116495 Yen,Chin-tien $50,000.00 N
600116497 Abbas,Ali Saleh $181,000.00 N
600116498 Poulter,Clarence Cody $170,000.00 N
600116499 Coast,Charleen L $176,000.00 N
600116500 Neiman,Herbert B $125,000.00 N
600116501 Greenspan,Richard C $132,000.00 N
600116502 Linehan,Michael H. $167,909.00 N
600116503 Kaur,Kulwant $220,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 10
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116504 Popolizio,Patrick 6 Salem Rd Albany NY 12205 $103,284.80
600116507 Rudy,Timothy 3149 Sacramento Avenue South Lake Taho CA 96150 $29,488.02
600116508 Lahijani,Bijan 64-21 231st Street Bayside NY 11364 $137,610.74
600116509 Cornell,David M 21925 N E 187th Street Woodinville WA 98072 $54,040.75
600116511 Liu,Shuh Jye 919 Gurnard Terrace Fremont CA 94536 $116,410.76
600116512 Villicana,Adolfo 2145 Hohokam Drive Douglas AZ 85607 $94,379.44
600116516 Huynh,Binh 4788 Mangrove Drive Dublin CA 94568 $200,364.27
600116517 Patel,Shantilal 1756 Framingham Court Fort Myers FL 33907 $55,023.33
600116518 Ho,Chuen 410 S E 14th Court Fort Lauderdale FL 33316 $54,051.11
600116519 Pham,Hien Duc 323 East Sierra Court Spokane WA 99207 $93,112.92
600116520 Troll,Curtis H. S.w. 360 Kimball Court Pullman WA 99163 $102,677.43
600116522 Abdulovski,Mefail 38 Albourne Avenue East Staten Island NY 10312 $96,309.24
600116523 Cleary,Michael W 14930 Brighton Road Brighton CO 80601 $72,204.16
600116524 Ngo,Mathew Nghia 3974 Payne Avenue San Jose CA 95117 $182,685.07
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116504 Popolizio,Patrick 8.875 .250 8.625 .0500 8.575 07/01/2012
600116507 Rudy,Timothy 8.375 .250 8.125 .0500 8.075 07/01/2012
600116508 Lahijani,Bijan 8.375 .336 8.039 .0500 7.989 07/01/2012
600116509 Cornell,David M 8.125 .250 7.875 .0500 7.825 07/01/2012
600116511 Liu,Shuh Jye 8.000 .250 7.750 .0500 7.700 07/01/2012
600116512 Villicana,Adolfo 8.500 .250 8.250 .0500 8.200 07/01/2012
600116516 Huynh,Binh 7.875 .250 7.625 .0500 7.575 07/01/2012
600116517 Patel,Shantilal 8.125 .250 7.875 .0500 7.825 07/01/2012
600116518 Ho,Chuen 8.250 .250 8.000 .0500 7.950 07/01/2012
600116519 Pham,Hien Duc 8.000 .250 7.750 .0500 7.700 07/01/2012
600116520 Troll,Curtis H. 8.125 .250 7.875 .0500 7.825 07/01/2012
600116522 Abdulovski,Mefail 8.250 .250 8.000 .0500 7.950 07/01/2012
600116523 Cleary,Michael W 8.000 .250 7.750 .0500 7.700 07/01/2012
600116524 Ngo,Mathew Nghia 7.875 .250 7.625 .0500 7.575 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>
600116504 Popolizio,Patrick 240369 $1,057.19 01/01/1998 180
600116507 Rudy,Timothy 251413 $293.23 01/01/1998 180
600116508 Lahijani,Bijan 255258 $1,368.40 01/01/1998 180
600116509 Cornell,David M 258451 $529.58 01/01/1998 180
600116511 Liu,Shuh Jye 261879 $1,132.45 01/01/1998 180
600116512 Villicana,Adolfo 258437 $945.35 01/01/1998 180
600116516 Huynh,Binh 261867 $1,934.84 01/01/1998 180
600116517 Patel,Shantilal 261953 $539.21 01/01/1998 180
600116518 Ho,Chuen 267118 $533.58 01/01/1998 180
600116519 Pham,Hien Duc 249926 $910.26 01/01/1998 180
600116520 Troll,Curtis H. 251487 $1,006.21 01/01/1998 180
600116522 Abdulovski,Mefail 247017 $950.74 01/01/1998 180
600116523 Cleary,Michael W 247352 $702.40 01/01/1998 180
600116524 Ngo,Mathew Nghia 249467 $1,764.12 01/01/1998 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>
600116504 Popolizio,Patrick $140,000.00 N
600116507 Rudy,Timothy $80,000.00 N
600116508 Lahijani,Bijan $175,000.00 N
600116509 Cornell,David M $395,000.00 N
600116511 Liu,Shuh Jye $248,500.00 N
600116512 Villicana,Adolfo $150,000.00 N
600116516 Huynh,Binh $255,000.00 N
600116517 Patel,Shantilal $70,000.00 N
600116518 Ho,Chuen $88,000.00 N
600116519 Pham,Hien Duc $127,000.00 N
600116520 Troll,Curtis H. $195,000.00 N
600116522 Abdulovski,Mefail $140,000.00 N
600116523 Cleary,Michael W $140,000.00 N
600116524 Ngo,Mathew Nghia $250,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 11
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116527 Holzapfel,Howard 829 Edwards Street Trinidad CA 95570 $107,803.43
600116528 Maynor,James Carlie 1011 S Ocean Blvd #302 North Myrtle Be SC 29582 $68,225.60
600116529 Garcia,Rosa M 19201 Collins Avenue #339 North Miami Bea FL 33160 $33,150.12
600116531 Bremer,Richard 101 South Market Street Nixa MO 65714 $26,578.01
600116534 Williams,Butch E 2413 Packwood Drive Sacramento CA 95825 $80,848.44
600116535 Cryan,Patricia A 1316 Northside Drive Ormond Beach FL 32174 $70,113.70
600116537 Church,Harry J. 19 Maniton Drive Portsmouth RI 02871 $62,462.15
600116539 Sousa,Glen 5 Evangeline Court Bristol RI 02809 $180,927.67
600116540 Wimmer,Peter 6342 121st Place S E Bellevue WA 98006 $109,441.56
600116541 Samimi,S. Ali-Reza 2055 Hendrix Avenue Thousand Oaks CA 91360 $212,191.76
600116542 Schrock,Leroy 2409 Ingram Avenue Sarasota FL 34232 $73,969.08
600116545 Wimmer,Peter 2532 Northeast 24th Stree Renton WA 98056 $102,539.29
600116546 Kramer Jr,Donald J 2901 Mt. Danaher Road Camino CA 95709 $71,508.45
600116547 Gibson,Barry D. 8048 Main Street Ellicott City MD 21043 $110,818.18
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116527 Holzapfel,Howard 7.375 .250 7.125 .0500 7.075 07/01/2012
600116528 Maynor,James Carlie 8.750 .250 8.500 .0500 8.450 07/01/2012
600116529 Garcia,Rosa M 9.500 .250 9.250 .0500 9.200 07/01/2011
600116531 Bremer,Richard 9.375 .250 9.125 .0500 9.075 07/01/2012
600116534 Williams,Butch E 8.125 .250 7.875 .0500 7.825 07/01/2012
600116535 Cryan,Patricia A 7.750 .250 7.500 .0500 7.450 07/01/2012
600116537 Church,Harry J. 9.000 .250 8.750 .0500 8.700 07/01/2012
600116539 Sousa,Glen 8.625 .250 8.375 .0500 8.325 07/01/2012
600116540 Wimmer,Peter 8.625 .250 8.375 .0500 8.325 07/01/2012
600116541 Samimi,S. Ali-Reza 8.000 .250 7.750 .0500 7.700 07/01/2012
600116542 Schrock,Leroy 8.375 .250 8.125 .0500 8.075 07/01/2012
600116545 Wimmer,Peter 8.500 .250 8.250 .0500 8.200 07/01/2012
600116546 Kramer Jr,Donald J 8.375 .250 8.125 .0500 8.075 07/01/2012
600116547 Gibson,Barry D. 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>
600116527 Holzapfel,Howard 258767 $1,011.00 01/01/1998 180
600116528 Maynor,James Carlie 262155 $699.62 01/01/1998 180
600116529 Garcia,Rosa M 178057 $367.57 01/01/1998 180
600116531 Bremer,Richard 259563 $279.91 14 01/01/1998 180
600116534 Williams,Butch E 258403 $794.38 01/01/1998 180
600116535 Cryan,Patricia A 261576 $672.07 01/01/1998 180
600116537 Church,Harry J. 250515 $644.06 01/01/1998 180
600116539 Sousa,Glen 249322 $1,825.43 01/01/1998 180
600116540 Wimmer,Peter 249334 $1,104.19 01/01/1998 180
600116541 Samimi,S. Ali-Reza 251734 $2,064.21 01/01/1998 180
600116542 Schrock,Leroy 251775 $747.74 7 01/01/1998 180
600116545 Wimmer,Peter 252884 $1,027.09 01/01/1998 180
600116546 Kramer Jr,Donald J 252956 $711.08 01/01/1998 180
600116547 Gibson,Barry D. 264332 $1,118.08 01/01/1998 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>
600116527 Holzapfel,Howard $220,000.00 N
600116528 Maynor,James Carlie $95,000.00 N
600116529 Garcia,Rosa M $44,000.00 N
600116531 Bremer,Richard $30,000.00 N
600116534 Williams,Butch E $110,000.00 N
600116535 Cryan,Patricia A $120,000.00 N
600116537 Church,Harry J. $110,000.00 N
600116539 Sousa,Glen $245,500.00 N
600116540 Wimmer,Peter $160,000.00 N
600116541 Samimi,S. Ali-Reza $270,000.00 N
600116542 Schrock,Leroy $85,000.00 N
600116545 Wimmer,Peter $149,000.00 N
600116546 Kramer Jr,Donald J $97,000.00 N
600116547 Gibson,Barry D. $161,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 12
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116552 Anderson,Grandville 1707 West Virginia Ave Ne Washington DC 20002 $62,647.96
600116553 Park,Yong C. 1 Bradford Way Voorhees Townsh NJ 08043 $126,037.34
600116554 Miller,Ronald A 2500 Cross Bend Road Plano TX 75023 $87,284.52
600116555 Bronson,Jackie 1462 Molino Road Molino FL 32577 $51,122.17
600116556 Den Hartog,Arthur G. 4322 Sellman Road Beltsville MD 20705 $90,342.57
600116557 Long,Tang 107 Kenilworth Road Summerville SC 29485 $126,429.10
600116559 Cao,Diem Xuan 9314 Blackhawk Circle Houston TX 77075 $70,508.87
600116560 Velasquez,Raul 223 31St St Brooklyn NY 11232 $142,708.51
600116565 Whitmer,Kevin Ray 5200 Roadside Lane Blairsville GA 30512 $58,172.96
600116566 Pursel, Jr.,Robert E. 2495 South Kihei Road #25 Kihei HI 96753 $56,908.74
600116568 Atchley,Emerson K. 868 Skelly Road Yoncalla OR 97499 $59,130.91
600116569 Laca,Gary 456 Venturacci Lane Fallon NV 89406 $73,838.87
600116572 Hemsher,Ronald M 2295 S Loyolla Lane Boise ID 83704 $54,542.47
600116574 Witkowski,Frank E 115 Aster Court Brooklyn NY 11229 $157,817.90
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116552 Anderson,Grandville 8.750 .250 8.500 .0500 8.450 07/01/2012
600116553 Park,Yong C. 8.250 .250 8.000 .0500 7.950 07/01/2012
600116554 Miller,Ronald A 8.375 .250 8.125 .0500 8.075 07/01/2012
600116555 Bronson,Jackie 8.500 .250 8.250 .0500 8.200 07/01/2012
600116556 Den Hartog,Arthur G. 7.750 .250 7.500 .0500 7.450 07/01/2012
600116557 Long,Tang 8.500 .250 8.250 .0500 8.200 07/01/2012
600116559 Cao,Diem Xuan 7.500 .250 7.250 .0500 7.200 07/01/2012
600116560 Velasquez,Raul 9.250 .250 9.000 .0500 8.950 07/01/2012
600116565 Whitmer,Kevin Ray 8.500 .250 8.250 .0500 8.200 08/01/2012
600116566 Pursel, Jr.,Robert E. 8.750 .250 8.500 .0500 8.450 08/01/2012
600116568 Atchley,Emerson K. 8.125 .250 7.875 .0500 7.825 08/01/2012
600116569 Laca,Gary 9.000 .250 8.750 .0500 8.700 08/01/2012
600116572 Hemsher,Ronald M 8.250 .250 8.000 .0500 7.950 07/01/2012
600116574 Witkowski,Frank E 8.500 .250 8.250 .0500 8.200 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>
600116552 Anderson,Grandville 251711 $636.65 01/01/1998 180
600116553 Park,Yong C. 250313 $1,244.21 01/01/1998 180
600116554 Miller,Ronald A 252001 $867.96 01/01/1998 180
600116555 Bronson,Jackie 261168 $512.07 01/01/1998 180
600116556 Den Hartog,Arthur G. 262071 $865.98 01/01/1998 180
600116557 Long,Tang 262620 $1,266.38 01/01/1998 180
600116559 Cao,Diem Xuan 261895 $670.70 01/01/1998 180
600116560 Velasquez,Raul 242354 $1,492.33 01/01/1998 180
600116565 Whitmer,Kevin Ray 258198 $581.00 01/01/1998 180
600116566 Pursel, Jr.,Robert E. 262039 $576.69 01/01/1998 180
600116568 Atchley,Emerson K. 259836 $577.73 01/01/1998 180
600116569 Laca,Gary 262045 $760.71 01/01/1998 180
600116572 Hemsher,Ronald M 249822 $538.43 01/01/1998 180
600116574 Witkowski,Frank E 188102 $1,585.43 01/01/1998 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>
600116552 Anderson,Grandville $98,000.00 N
600116553 Park,Yong C. $171,000.00 N
600116554 Miller,Ronald A $111,000.00 N
600116555 Bronson,Jackie $65,000.00 N
600116556 Den Hartog,Arthur G. $154,000.00 N
600116557 Long,Tang $171,500.00 N
600116559 Cao,Diem Xuan $90,450.00 N
600116560 Velasquez,Raul $195,000.00 N
600116565 Whitmer,Kevin Ray $87,000.00 N
600116566 Pursel, Jr.,Robert E. $76,950.00 N
600116568 Atchley,Emerson K. $155,000.00 N
600116569 Laca,Gary $127,600.00 N
600116572 Hemsher,Ronald M $74,000.00 N
600116574 Witkowski,Frank E $202,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 13
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116575 Sparr,William L 4710 Whitetail Lane New Port Richey FL 34653 $70,733.15
600116577 Kamber, Jr.,William B. 1248 Lydia Street Louisville KY 40217 $48,775.16
600116578 Carr,James E. 39 University Westerville OH 43081 $31,104.82
600116586 Vandergrift,Robert D. 108 Vandergrift Drive Friedens PA 15541 $41,181.94
600116588 Ennab,Jamal 245 Egbert Avenue Staten Island NY 10314 $90,681.85
600116589 Garrido,Jose 5 Dorothy Street Syosset NY 11791 $147,943.13
600116592 Elias,Nadir G. 36547 Maplewood Lane Sterling Height MI 48310 $98,582.79
600116593 Mcclure,David G. 2912 Beaver Ave Fort Wayne IN 46807 $40,868.86
600116594 Moore,Dianne R. 10 Glenwolde Park Tarrytown NY 10591 $88,682.09
600116596 Welborn,William W 1103 Custer Court Modesto CA 95351 $64,048.15
600116599 Grant,Elizabeth 450 W Cross Road Bloomington IN 47403 $51,787.94
600116600 Grant,Elizabeth 928 S Mitchell St Bloomington IN 47401 $59,177.25
600116601 Grant,Elizabeth 401 Matlock Bloomington IN 47401 $71,752.41
600116602 Haworth,Kent W. 109 Stanard Avenue Brownsville OR 97327 $52,856.85
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116575 Sparr,William L 8.375 .250 8.125 .0500 8.075 08/01/2012
600116577 Kamber, Jr.,William B. 8.000 .250 7.750 .0500 7.700 08/01/2012
600116578 Carr,James E. 9.750 .250 9.500 .0500 9.450 08/01/2012
600116586 Vandergrift,Robert D. 8.000 .250 7.750 .0500 7.700 08/01/2012
600116588 Ennab,Jamal 8.250 .421 7.829 .0500 7.779 08/01/2012
600116589 Garrido,Jose 8.750 .250 8.500 .0500 8.450 08/01/2012
600116592 Elias,Nadir G. 8.375 .250 8.125 .0500 8.075 08/01/2012
600116593 Mcclure,David G. 9.500 .250 9.250 .0500 9.200 08/01/2012
600116594 Moore,Dianne R. 8.000 .250 7.750 .0500 7.700 08/01/2012
600116596 Welborn,William W 8.000 .250 7.750 .0500 7.700 08/01/2012
600116599 Grant,Elizabeth 8.875 .250 8.625 .0500 8.575 08/01/2012
600116600 Grant,Elizabeth 8.750 .250 8.500 .0500 8.450 08/01/2012
600116601 Grant,Elizabeth 8.750 .250 8.500 .0500 8.450 08/01/2012
600116602 Haworth,Kent W. 8.625 .250 8.375 .0500 8.325 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>
600116575 Sparr,William L 253743 $701.31 01/01/1998 180
600116577 Kamber, Jr.,William B. 262087 $473.05 01/01/1998 180
600116578 Carr,James E. 282862 $333.70 2 01/01/1998 180
600116586 Vandergrift,Robert D. 262041 $401.38 01/01/1998 180
600116588 Ennab,Jamal 262013 $892.53 01/01/1998 180
600116589 Garrido,Jose 238596 $1,499.17 01/01/1998 180
600116592 Elias,Nadir G. 262074 $977.43 01/01/1998 180
600116593 Mcclure,David G. 252462 $432.31 12 01/01/1998 180
600116594 Moore,Dianne R. 249489 $860.09 01/01/1998 180
600116596 Welborn,William W 250848 $621.18 01/01/1998 180
600116599 Grant,Elizabeth 255664 $528.60 01/01/1998 180
600116600 Grant,Elizabeth 255673 $599.67 01/01/1998 180
600116601 Grant,Elizabeth 255678 $727.10 01/01/1998 180
600116602 Haworth,Kent W. 262101 $531.76 01/01/1998 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>
600116575 Sparr,William L $95,722.00 N
600116577 Kamber, Jr.,William B. $73,000.00 N
600116578 Carr,James E. $35,000.00 N
600116586 Vandergrift,Robert D. $64,000.00 N
600116588 Ennab,Jamal $127,000.00 N
600116589 Garrido,Jose $275,000.00 N
600116592 Elias,Nadir G. $190,400.00 N
600116593 Mcclure,David G. $46,000.00 N
600116594 Moore,Dianne R. $142,000.00 N
600116596 Welborn,William W $85,000.00 N
600116599 Grant,Elizabeth $70,000.00 N
600116600 Grant,Elizabeth $80,000.00 N
600116601 Grant,Elizabeth $97,000.00 N
600116602 Haworth,Kent W. $67,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 14
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116603 Bartlett,Paul A. 1949 Ramirez Street Marysville CA 95901 $38,412.02
600116606 Conklin,William R 1230 Gulf Blvd #406 Clearwater FL 34630 $73,937.10
600116610 Tromburg,John 502 East State Avenue Meridian ID 83642 $79,408.24
600116611 Richardson,Jeffrey 5763 Salisbury Lane San Luis Obispo CA 93401 $215,758.03
600116613 Son,Jessica 6700 Saddletree Trail Plano TX 75023 $96,564.96
600116614 Joseph,Michael 5014 North Marvine Street Philadelphia PA 19141 $44,178.83
600116615 Feldman,Neil J 10 Stanley Avenue Taunton MA 02780 $104,362.71
600116616 Khan,Jaweria 220 N Orange Street Port Jervis NY 12771 $52,265.16
600116617 Hejazifar,David A 427 Corydon Drive Huffman TX 77336 $37,764.72
600116619 Black,Kenneth G. 4436 Sweet Stone Place Las Vegas NV 89117 $95,475.18
600116620 Navarrete,Santos 2403 Ridgedale Drive Carrollton TX 75006 $58,382.36
600116621 Mastrantonio,Joseph 32-34 Thurston Road Rochester NY 14607 $38,482.66
600116622 Bentley,Willard H. 20007 30th Avenue East Spanaway WA 98387 $93,593.71
600116625 Miedzinski,Andrzej Jan 1353 Durham Road Madison CT 06443 $107,790.57
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116603 Bartlett,Paul A. 7.750 .250 7.500 .0500 7.450 08/01/2012
600116606 Conklin,William R 8.375 .250 8.125 .0500 8.075 08/01/2012
600116610 Tromburg,John 8.875 .250 8.625 .0500 8.575 08/01/2012
600116611 Richardson,Jeffrey 7.875 .250 7.625 .0500 7.575 08/01/2012
600116613 Son,Jessica 8.000 .250 7.750 .0500 7.700 08/01/2012
600116614 Joseph,Michael 8.625 .250 8.375 .0500 8.325 08/01/2012
600116615 Feldman,Neil J 9.250 .250 9.000 .0500 8.950 08/01/2012
600116616 Khan,Jaweria 8.625 .250 8.375 .0500 8.325 08/01/2012
600116617 Hejazifar,David A 9.625 .250 9.375 .0500 9.325 08/01/2012
600116619 Black,Kenneth G. 8.000 .250 7.750 .0500 7.700 08/01/2012
600116620 Navarrete,Santos 8.000 .250 7.750 .0500 7.700 08/01/2012
600116621 Mastrantonio,Joseph 9.125 .250 8.875 .0500 8.825 08/01/2012
600116622 Bentley,Willard H. 7.875 .250 7.625 .0500 7.575 08/01/2012
600116625 Miedzinski,Andrzej Jan 8.250 .250 8.000 .0500 7.950 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>
600116603 Bartlett,Paul A. 265007 $376.51 01/01/1998 180
600116606 Conklin,William R 273577 $733.07 01/01/1998 180
600116610 Tromburg,John 263674 $810.51 01/01/1998 180
600116611 Richardson,Jeffrey 263685 $2,077.11 01/01/1998 180
600116613 Son,Jessica 256284 $936.54 01/01/1998 180
600116614 Joseph,Michael 262064 $444.46 01/01/1998 180
600116615 Feldman,Neil J 250827 $1,088.37 12 01/01/1998 180
600116616 Khan,Jaweria 244544 $525.81 01/01/1998 180
600116617 Hejazifar,David A 254858 $402.31 01/01/1998 180
600116619 Black,Kenneth G. 263676 $955.66 01/01/1998 180
600116620 Navarrete,Santos 265237 $566.23 01/01/1998 180
600116621 Mastrantonio,Joseph 263244 $398.47 01/01/1998 180
600116622 Bentley,Willard H. 257152 $901.03 01/01/1998 180
600116625 Miedzinski,Andrzej Jan 263667 $1,063.28 01/01/1998 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>
600116603 Bartlett,Paul A. $82,000.00 N
600116606 Conklin,William R $130,000.00 N
600116610 Tromburg,John $115,000.00 N
600116611 Richardson,Jeffrey $430,000.00 N
600116613 Son,Jessica $140,000.00 N
600116614 Joseph,Michael $56,000.00 N
600116615 Feldman,Neil J $117,500.00 N
600116616 Khan,Jaweria $86,000.00 N
600116617 Hejazifar,David A $51,000.00 N
600116619 Black,Kenneth G. $146,090.00 N
600116620 Navarrete,Santos $79,000.00 N
600116621 Mastrantonio,Joseph $52,000.00 N
600116622 Bentley,Willard H. $170,000.00 N
600116625 Miedzinski,Andrzej Jan $137,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 15
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116626 Fisher,Paul S. 516 North 4th Street Canon City CO 81212 $39,401.40
600116627 Louie,Stephen K. D 155 Roberta Road Ormond Beach FL 32176 $50,080.03
600116628 Woodhouse,Katherine 5517 Moravia Rd Baltimore MD 21206 $40,655.21
600116630 Blumental,Joshua 1387 South Roberta Street Salt Lake City UT 84115 $61,101.92
600116631 Boylston,Linda V. 8335 Poorhouse Road La Plata MD 20646 $49,170.87
600116632 Mann,Michael D 1805 Atlantic Street 134 Melbourne Beach FL 32951 $127,644.52
600116633 Izaguirre,Juan Manuel 2803 Guajillo Street Edinburg TX 78539 $45,795.01
600116634 Mokrzycki,Grace 134 Emily Lane Staten Island NY 10312 $56,362.37
600116635 Lo,John T. 14555 Denton Avenue Truckee CA 96161 $77,880.40
600116636 Cronin,Daniel D. 10727 South Campbell Chicago IL 60655 $102,038.05
600116637 Wesley,Charles E. 3510 Via Fernando Avenue Las Vegas NV 89115 $83,253.15
600116638 Crossland,Robert D 93 S. Balch St. Akron OH 44302 $40,425.25
600116639 Chun,Ik Yul 1605 Eagle Trace Drive Laredo TX 78045 $84,820.69
600116643 Taormino,Mary M. 1419 Whittier Drive Davis CA 95616 $89,977.50
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116626 Fisher,Paul S. 7.750 .250 7.500 .0500 7.450 08/01/2012
600116627 Louie,Stephen K. D 8.375 .250 8.125 .0500 8.075 08/01/2012
600116628 Woodhouse,Katherine 8.250 .250 8.000 .0500 7.950 08/01/2012
600116630 Blumental,Joshua 8.125 .250 7.875 .0500 7.825 08/01/2012
600116631 Boylston,Linda V. 8.000 .250 7.750 .0500 7.700 08/01/2012
600116632 Mann,Michael D 8.250 .250 8.000 .0500 7.950 08/01/2012
600116633 Izaguirre,Juan Manuel 8.500 .250 8.250 .0500 8.200 08/01/2012
600116634 Mokrzycki,Grace 8.000 .250 7.750 .0500 7.700 08/01/2012
600116635 Lo,John T. 8.375 .250 8.125 .0500 8.075 08/01/2012
600116636 Cronin,Daniel D. 8.750 .250 8.500 .0500 8.450 08/01/2012
600116637 Wesley,Charles E. 8.375 .250 8.125 .0500 8.075 08/01/2012
600116638 Crossland,Robert D 8.500 .250 8.250 .0500 8.200 08/01/2012
600116639 Chun,Ik Yul 8.750 .250 8.500 .0500 8.450 08/01/2012
600116643 Taormino,Mary M. 8.125 .250 7.875 .0500 7.825 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>
600116626 Fisher,Paul S. 263670 $376.51 01/01/1998 180
600116627 Louie,Stephen K. D 263684 $496.54 01/01/1998 180
600116628 Woodhouse,Katherine 273325 $416.68 01/01/1998 180
600116630 Blumental,Joshua 263675 $596.99 01/01/1998 180
600116631 Boylston,Linda V. 263677 $477.83 01/01/1998 180
600116632 Mann,Michael D 253940 $1,256.34 01/01/1998 180
600116633 Izaguirre,Juan Manuel 263668 $472.68 01/01/1998 180
600116634 Mokrzycki,Grace 253913 $546.64 01/01/1998 180
600116635 Lo,John T. 257624 $772.17 01/01/1998 180
600116636 Cronin,Daniel D. 263669 $1,049.43 01/01/1998 180
600116637 Wesley,Charles E. 263679 $825.44 01/01/1998 180
600116638 Crossland,Robert D 252088 $403.75 01/01/1998 180
600116639 Chun,Ik Yul 263688 $859.53 01/01/1998 180
600116643 Taormino,Mary M. 263671 $879.12 01/01/1998 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>
600116626 Fisher,Paul S. $50,000.00 N
600116627 Louie,Stephen K. D $63,500.00 N
600116628 Woodhouse,Katherine $63,000.00 N
600116630 Blumental,Joshua $111,000.00 N
600116631 Boylston,Linda V. $120,500.00 N
600116632 Mann,Michael D $185,000.00 N
600116633 Izaguirre,Juan Manuel $64,000.00 N
600116634 Mokrzycki,Grace $71,500.00 N
600116635 Lo,John T. $179,000.00 N
600116636 Cronin,Daniel D. $162,500.00 N
600116637 Wesley,Charles E. $129,990.00 N
600116638 Crossland,Robert D $69,500.00 N
600116639 Chun,Ik Yul $107,500.00 N
600116643 Taormino,Mary M. $140,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 16
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116644 Catherwood,Michael 770 Wheeler Way Gardnerville NV 89410 $93,653.64
600116646 Jones,Richard T. 18760 Cypress Road Fort Bragg CA 95437 $197,071.33
600116649 Callaway,David G 6022 Darkwood Drive Houston TX 77088 $81,343.49
600116651 Reed,Earlene 1017 Grinnell Avenue Dallas TX 75216 $39,661.67
600116652 Gray,Michael A 2501 Livesay Rd Chesapeake VA 23323 $46,499.84
600116655 Petersen,Gayle A 2495 S Kihei Road #105 Kihei HI 96753 $65,094.95
600116657 Ciaschi,Mary Beth 307 Mcintosh Drive Auburn NY 13021 $73,982.86
600116659 Kimmel,Kenneth A. 7701 18th Avenue Northwes Seattle WA 98117 $197,071.38
600116660 Belovsky,Peter S. 7685 North West 61 Terrac Parkland FL 33067 $103,560.19
600116663 Buchanan,Michael L 1113 Cagle Road Ashland City TN 37015 $61,525.30
600116664 Osteen,Barry D. 416 Silvertip Circle Nampa ID 83686 $32,739.71
600116665 King,James A. 6916 South Ogden Court Littleton CO 80122 $118,261.83
600116666 Kim,Nam Gon 5507 Island Breeze Drive Houston TX 77041 $128,511.18
600116667 Nilsen,Kurt 6805 Ne Roselawn Street Portland OR 97218 $76,894.55
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116644 Catherwood,Michael 8.375 .250 8.125 .0500 8.075 08/01/2012
600116646 Jones,Richard T. 8.000 .250 7.750 .0500 7.700 08/01/2012
600116649 Callaway,David G 8.500 .250 8.250 .0500 8.200 08/01/2012
600116651 Reed,Earlene 9.250 .250 9.000 .0500 8.950 08/01/2012
600116652 Gray,Michael A 8.125 .250 7.875 .0500 7.825 08/01/2012
600116655 Petersen,Gayle A 8.750 .250 8.500 .0500 8.450 08/01/2012
600116657 Ciaschi,Mary Beth 8.875 .250 8.625 .0500 8.575 08/01/2012
600116659 Kimmel,Kenneth A. 8.000 .250 7.750 .0500 7.700 08/01/2012
600116660 Belovsky,Peter S. 8.750 .250 8.500 .0500 8.450 08/01/2012
600116663 Buchanan,Michael L 8.500 .500 8.000 .0500 7.950 08/01/2012
600116664 Osteen,Barry D. 8.625 .250 8.375 .0500 8.325 08/01/2012
600116665 King,James A. 8.125 .250 7.875 .0500 7.825 08/01/2012
600116666 Kim,Nam Gon 8.125 .250 7.875 .0500 7.825 08/01/2012
600116667 Nilsen,Kurt 8.375 .250 8.125 .0500 8.075 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>
600116644 Catherwood,Michael 265236 $928.56 01/01/1998 180
600116646 Jones,Richard T. 257384 $1,911.31 01/01/1998 180
600116649 Callaway,David G 242334 $812.42 01/01/1998 180
600116651 Reed,Earlene 263682 $416.83 12 01/01/1998 180
600116652 Gray,Michael A 252349 $454.97 01/01/1998 180
600116655 Petersen,Gayle A 267558 $659.64 01/01/1998 180
600116657 Ciaschi,Mary Beth 250240 $755.13 01/01/1998 180
600116659 Kimmel,Kenneth A. 259786 $1,911.30 01/01/1998 180
600116660 Belovsky,Peter S. 260911 $1,049.42 01/01/1998 180
600116663 Buchanan,Michael L 254856 $614.48 01/01/1998 180
600116664 Osteen,Barry D. 256596 $329.37 01/01/1998 180
600116665 King,James A. 264995 $1,155.46 01/01/1998 180
600116666 Kim,Nam Gon 254687 $1,255.60 01/01/1998 180
600116667 Nilsen,Kurt 258435 $762.40 01/01/1998 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>
600116644 Catherwood,Michael $165,000.00 N
600116646 Jones,Richard T. $335,000.00 N
600116649 Callaway,David G $110,000.00 N
600116651 Reed,Earlene $45,000.00 N
600116652 Gray,Michael A $63,000.00 N
600116655 Petersen,Gayle A $88,000.00 N
600116657 Ciaschi,Mary Beth $100,000.00 N
600116659 Kimmel,Kenneth A. $270,000.00 N
600116660 Belovsky,Peter S. $140,000.00 N
600116663 Buchanan,Michael L $78,000.00 N
600116664 Osteen,Barry D. $79,900.00 N
600116665 King,James A. $176,000.00 N
600116666 Kim,Nam Gon $168,587.00 N
600116667 Nilsen,Kurt $106,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 17
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116669 Conicelli Jr.,Joseph J. 9033 S. W. 5th Street Boca Raton FL 33433 $93,041.03
600116670 Brauns,Robert H 2001 Wells Manor Ave Baltimore MD 21207 $118,358.80
600116671 Pradhan,Ranjna D. 830 North Claremont Stree San Mateo CA 94401 $201,865.42
600116673 Lim,Jee Youn 28575 Springfield Drive Laguna Niguel CA 92677 $48,715.03
600116677 Kent,Sharon L 3840 Redbud Court Smyrna GA 30082 $66,457.35
600116678 Wolff,Priscilla A. 259 Belle Street Bedford TX 76021 $41,003.96
600116679 Sawicki,Gwendolyn Ann 1043 Apokula Street Kailua HI 96734 $137,859.31
600116680 Bixler,Ina L. 1816/1818 Fairview Anderson IN 46016 $40,406.76
600116681 Bixler,Ina L. 404/406 W 3rd Anderson IN 46016 $40,406.76
600116682 Tudino,Egidio L. 232-234 Webster Avenue Providence RI 02908 $59,195.17
600116683 Rosa,Jose N 4739 Old Farm Road Sarasota FL 34238 $170,055.34
600116684 Woodward,Fred A 3440 Ridgewood Drive Erlanger KY 41018 $76,918.59
600116686 Choe,Hyung Chul 17203 Grey Mist Drive Friendswood TX 77546 $93,116.17
600116689 Venable,David B. 19 North Greenfield Ave Hampton VA 23666 $44,396.41
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116669 Conicelli Jr.,Joseph J. 8.375 .250 8.125 .0500 8.075 08/01/2012
600116670 Brauns,Robert H 9.750 .250 9.500 .0500 9.450 08/01/2012
600116671 Pradhan,Ranjna D. 7.500 .250 7.250 .0500 7.200 08/01/2012
600116673 Lim,Jee Youn 8.000 .250 7.750 .0500 7.700 08/01/2012
600116677 Kent,Sharon L 8.250 .250 8.000 .0500 7.950 08/01/2012
600116678 Wolff,Priscilla A. 8.250 .250 8.000 .0500 7.950 08/01/2012
600116679 Sawicki,Gwendolyn Ann 7.500 .250 7.250 .0500 7.200 08/01/2012
600116680 Bixler,Ina L. 9.125 .250 8.875 .0500 8.825 08/01/2012
600116681 Bixler,Ina L. 9.125 .250 8.875 .0500 8.825 08/01/2012
600116682 Tudino,Egidio L. 9.000 .250 8.750 .0500 8.700 08/01/2012
600116683 Rosa,Jose N 8.375 .250 8.125 .0500 8.075 08/01/2012
600116684 Woodward,Fred A 8.500 .250 8.250 .0500 8.200 08/01/2012
600116686 Choe,Hyung Chul 8.000 .250 7.750 .0500 7.700 08/01/2012
600116689 Venable,David B. 9.000 .250 8.750 .0500 8.700 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>
600116669 Conicelli Jr.,Joseph J. 261601 $928.55 01/01/1998 180
600116670 Brauns,Robert H 266132 $1,271.24 01/01/1998 180
600116671 Pradhan,Ranjna D. 280399 $1,900.38 01/01/1998 180
600116673 Lim,Jee Youn 260077 $1,433.48 01/01/1998 180
600116677 Kent,Sharon L 263672 $654.85 01/01/1998 180
600116678 Wolff,Priscilla A. 263673 $403.58 01/01/1998 180
600116679 Sawicki,Gwendolyn Ann 254568 $1,297.82 01/01/1998 180
600116680 Bixler,Ina L. 263678 $418.40 2 01/01/1998 180
600116681 Bixler,Ina L. 263686 $418.40 2 01/01/1998 180
600116682 Tudino,Egidio L. 263687 $608.57 01/01/1998 180
600116683 Rosa,Jose N 256734 $1,686.06 01/01/1998 180
600116684 Woodward,Fred A 263681 $772.04 01/01/1998 180
600116686 Choe,Hyung Chul 267530 $903.10 01/01/1998 180
600116689 Venable,David B. 256296 $456.42 01/01/1998 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>
600116669 Conicelli Jr.,Joseph J. $129,000.00 N
600116670 Brauns,Robert H $150,000.00 N
600116671 Pradhan,Ranjna D. $327,000.00 N
600116673 Lim,Jee Youn $312,000.00 N
600116677 Kent,Sharon L $90,000.00 N
600116678 Wolff,Priscilla A. $52,000.00 N
600116679 Sawicki,Gwendolyn Ann $320,000.00 N
600116680 Bixler,Ina L. $45,500.00 N
600116681 Bixler,Ina L. $45,500.00 N
600116682 Tudino,Egidio L. $82,000.00 N
600116683 Rosa,Jose N $230,000.00 N
600116684 Woodward,Fred A $98,000.00 N
600116686 Choe,Hyung Chul $126,000.00 N
600116689 Venable,David B. $98,300.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 18
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116691 Huynh,Nam Van 2728 Berry Court Marietta GA 30066 $79,089.50
600116693 Behar,Mark J 224 Se 1 Circle Boynton Beach FL 33435 $31,353.63
600116694 Behar,Mark J 237 Se 1 Circle Boynton Beach FL 33435 $31,353.55
600116695 Secrist,Jeff S 62 Rossmore Avenue Fort Thomas KY 41075 $88,792.83
600116697 Sillery,Paul 31803 Shiawassee Street Westland MI 48186 $32,869.75
600116698 Nguyen,Van Long 12218 Elk Meadow Drive Stafford TX 77477 $82,684.71
600116701 Kang,Dai Sik 183 Resevoir Avenue Revere MA 02148 $88,724.55
600116705 Roller,Randall R 1470 Lila Avenue Baton Rouge LA 70820 $39,120.65
600116706 Anderson,Bruce K 1601 Mizzenmast Way Jupiter FL 33477 $75,536.47
600116709 Boblits,Eugene 226 Everett Road Hereford MD 21111 $71,931.02
600116710 Shojaee,Susan 8037 East Glenrosa Avenue Scottsdale AZ 85251 $57,679.98
600116711 Johnson,E. Dee 441 Jackson Street Krum TX 76249 $85,000.66
600116713 Delaura,Dennis R. 213 Stowaway Cove Austin TX 78734 $108,771.22
600116714 Dixon Miller,Bette E 1825 1/2 E County Rd E White Bear Lake MN 55110 $57,033.57
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116691 Huynh,Nam Van 8.750 .250 8.500 .0500 8.450 08/01/2012
600116693 Behar,Mark J 8.125 .250 7.875 .0500 7.825 08/01/2012
600116694 Behar,Mark J 8.125 .250 7.875 .0500 7.825 08/01/2012
600116695 Secrist,Jeff S 9.000 .250 8.750 .0500 8.700 08/01/2012
600116697 Sillery,Paul 9.000 .250 8.750 .0500 8.700 08/01/2012
600116698 Nguyen,Van Long 8.125 .250 7.875 .0500 7.825 08/01/2012
600116701 Kang,Dai Sik 8.375 .250 8.125 .0500 8.075 08/01/2012
600116705 Roller,Randall R 8.250 .250 8.000 .0500 7.950 08/01/2012
600116706 Anderson,Bruce K 7.375 .250 7.125 .0500 7.075 08/01/2012
600116709 Boblits,Eugene 8.000 .250 7.750 .0500 7.700 08/01/2012
600116710 Shojaee,Susan 8.500 .250 8.250 .0500 8.200 08/01/2012
600116711 Johnson,E. Dee 8.125 .250 7.875 .0500 7.825 08/01/2012
600116713 Delaura,Dennis R. 9.000 .250 8.750 .0500 8.700 08/01/2012
600116714 Dixon Miller,Bette E 7.750 .250 7.500 .0500 7.450 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>
600116691 Huynh,Nam Van 257565 $804.56 01/01/1998 180
600116693 Behar,Mark J 271771 $310.53 01/01/1998 180
600116694 Behar,Mark J 271774 $310.53 01/01/1998 180
600116695 Secrist,Jeff S 263589 $912.84 01/01/1998 180
600116697 Sillery,Paul 263637 $338.26 2 01/01/1998 180
600116698 Nguyen,Van Long 265000 $807.86 01/01/1998 180
600116701 Kang,Dai Sik 250794 $879.68 01/01/1998 180
600116705 Roller,Randall R 267532 $388.06 01/01/1998 180
600116706 Anderson,Bruce K 270417 $708.34 01/01/1998 180
600116709 Boblits,Eugene 260035 $697.63 01/01/1998 180
600116710 Shojaee,Susan 260073 $576.07 2 01/01/1998 180
600116711 Johnson,E. Dee 268131 $830.49 01/01/1998 180
600116713 Delaura,Dennis R. 254693 $1,118.23 01/01/1998 180
600116714 Dixon Miller,Bette E 267562 $545.00 01/01/1998 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>
600116691 Huynh,Nam Van $115,000.00 N
600116693 Behar,Mark J $43,000.00 N
600116694 Behar,Mark J $43,000.00 N
600116695 Secrist,Jeff S $120,000.00 N
600116697 Sillery,Paul $37,100.00 N
600116698 Nguyen,Van Long $119,859.00 N
600116701 Kang,Dai Sik $152,000.00 N
600116705 Roller,Randall R $50,000.00 N
600116706 Anderson,Bruce K $122,000.00 N
600116709 Boblits,Eugene $205,000.00 N
600116710 Shojaee,Susan $65,000.00 N
600116711 Johnson,E. Dee $160,000.00 N
600116713 Delaura,Dennis R. $147,000.00 N
600116714 Dixon Miller,Bette E $82,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 19
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116715 Andres,Carlos N 2901 N Halifax Drive #112 Daytona Beach FL 32118 $36,950.88
600116716 Hlavac,Joseph A. 2018 Mcduffie Street Houston TX 77019 $125,669.83
600116718 Erofeeff,Fred 7474 Crooked Finger Road Scotts Mills OR 97375 $158,192.34
600116720 Benavides,Jorge 7333 Bayberry Lane Dallas TX 75249 $61,369.82
600116723 Nottenboom,Mary H 2705 P Street Sacramento CA 95816 $156,606.98
600116727 Wolfe,Daniel E. 7910 E. Camelback Rd #206 Scottsdale AZ 85251 $44,136.81
600116728 Norton,Larry S 5825 Ovella Road Jacksonville FL 32244 $39,919.72
600116729 Foght,Jeffrey 4228 Siete Leguas Road El Paso TX 79922 $56,299.45
600116730 Hummel-brown,Lorraine 19 Chestnut Street Seymour CT 06483 $49,301.32
600116731 Harrington,Roy A. 209 Universe Avenue A & B Bakersfield CA 93308 $53,950.71
600116733 Fleming Jr.,Joseph H. 1438 Wynnewood Road Lower Marion To PA 19003 $85,070.35
600116734 Gust,Gerald W. 31800 SW 195 Avenue Homestead FL 33030 $208,772.76
600116735 Yousif,Mark M N 39050 Baroque Boulevard Clinton Townshi MI 48038 $129,569.39
600116739 Long,David P 17562 Grettel Fraser MI 48026 $29,579.44
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116715 Andres,Carlos N 8.000 .250 7.750 .0500 7.700 08/01/2012
600116716 Hlavac,Joseph A. 7.625 .250 7.375 .0500 7.325 08/01/2012
600116718 Erofeeff,Fred 8.375 .250 8.125 .0500 8.075 09/01/2012
600116720 Benavides,Jorge 7.875 .250 7.625 .0500 7.575 08/01/2012
600116723 Nottenboom,Mary H 7.750 .250 7.500 .0500 7.450 08/01/2012
600116727 Wolfe,Daniel E. 7.875 .250 7.625 .0500 7.575 08/01/2012
600116728 Norton,Larry S 8.250 .250 8.000 .0500 7.950 08/01/2012
600116729 Foght,Jeffrey 8.250 .250 8.000 .0500 7.950 09/01/2012
600116730 Hummel-brown,Lorraine 8.750 .250 8.500 .0500 8.450 09/01/2012
600116731 Harrington,Roy A. 8.625 .250 8.375 .0500 8.325 10/01/2012
600116733 Fleming Jr.,Joseph H. 8.875 .250 8.625 .0500 8.575 09/01/2012
600116734 Gust,Gerald W. 7.950 .250 7.700 .0500 7.650 09/01/2012
600116735 Yousif,Mark M N 8.375 .250 8.125 .0500 8.075 09/01/2012
600116739 Long,David P 8.500 .250 8.250 .0500 8.200 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>
600116715 Andres,Carlos N 274460 $358.37 01/01/1998 180
600116716 Hlavac,Joseph A. 280405 $1,191.95 01/01/1998 180
600116718 Erofeeff,Fred 260078 $1,563.88 01/01/1998 180
600116720 Benavides,Jorge 284088 $600.37 01/01/1998 180
600116723 Nottenboom,Mary H 269696 $1,496.63 01/01/1998 180
600116727 Wolfe,Daniel E. 260091 $424.91 01/01/1998 180
600116728 Norton,Larry S 267524 $392.91 12 01/01/1998 180
600116729 Foght,Jeffrey 267521 $552.50 2 01/01/1998 180
600116730 Hummel-brown,Lorraine 258102 $499.70 01/01/1998 180
600116731 Harrington,Roy A. 269107 $539.69 01/01/1998 180
600116733 Fleming Jr.,Joseph H. 261487 $865.89 01/01/1998 180
600116734 Gust,Gerald W. 261689 $2,012.72 01/01/1998 180
600116735 Yousif,Mark M N 266412 $1,280.92 01/01/1998 180
600116739 Long,David P 251102 $295.43 01/01/1998 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>
600116715 Andres,Carlos N $50,000.00 N
600116716 Hlavac,Joseph A. $159,500.00 N
600116718 Erofeeff,Fred $225,400.00 N
600116720 Benavides,Jorge $90,500.00 N
600116723 Nottenboom,Mary H $199,000.00 N
600116727 Wolfe,Daniel E. $56,000.00 N
600116728 Norton,Larry S $45,000.00 N
600116729 Foght,Jeffrey $67,000.00 N
600116730 Hummel-brown,Lorraine $140,000.00 N
600116731 Harrington,Roy A. $68,000.00 N
600116733 Fleming Jr.,Joseph H. $160,000.00 N
600116734 Gust,Gerald W. $325,000.00 N
600116735 Yousif,Mark M N $182,000.00 N
600116739 Long,David P $105,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 20
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116741 Gizi,Antoon Silwa 4128 Steel Court Sterling Height MI 48310 $121,280.84
600116742 Park,Won Kyu 2380 Timothy Drive Nw Salem OR 97304 $143,307.03
600116743 Carry,Monte Jerome 208 Walnut Drive Fredericksburg VA 22405 $71,714.70
600116749 Nedza,Jeffrey W. 2441 Route 90 Genoa NY 13071 $25,329.37
600116752 Artis,La Velle 2409 Gilbert Ave Ne Canton OH 44705 $22,262.12
600116753 Olson,Donald R 6189 S W O Neal Creek Dri Gaston OR 97119 $103,774.05
600116755 Nicholson,James W. 1564 Forrest Street Mobile AL 36605 $28,485.21
600116756 Stanberry,Bennie J 3002 Lakeside Drive Rockwall TX 75087 $131,233.60
600116759 Delaura,Dennis R 211 Stowaway Cove Austin TX 78734 $103,481.82
600116760 Evans,Larry R. 1543 Delucchi Lane Reno NV 89502 $49,459.76
600116761 Barlev,Avinoam 7901 Badenloch Way #203 Gaithersburg MD 20879 $44,370.01
600116764 Piric,Sahin 5 Pine Tree Drive Farmingdale NY 11735 $148,267.68
600116765 Spreeman,Richard J 1328 Whispering Pine Houston TX 77055 $81,822.66
600116769 Shanks,Charles B 3800 Brook Road Chattanooga TN 37421 $45,869.97
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116741 Gizi,Antoon Silwa 8.375 .250 8.125 .0500 8.075 09/01/2012
600116742 Park,Won Kyu 8.000 .250 7.750 .0500 7.700 09/01/2012
600116743 Carry,Monte Jerome 7.500 .250 7.250 .0500 7.200 09/01/2012
600116749 Nedza,Jeffrey W. 9.125 .250 8.875 .0500 8.825 09/01/2012
600116752 Artis,La Velle 9.125 .250 8.875 .0500 8.825 09/01/2012
600116753 Olson,Donald R 8.000 .250 7.750 .0500 7.700 09/01/2012
600116755 Nicholson,James W. 8.750 .250 8.500 .0500 8.450 09/01/2012
600116756 Stanberry,Bennie J 8.250 .250 8.000 .0500 7.950 09/01/2012
600116759 Delaura,Dennis R 9.000 .250 8.750 .0500 8.700 09/01/2012
600116760 Evans,Larry R. 8.880 .250 8.630 .0500 8.580 09/01/2012
600116761 Barlev,Avinoam 7.875 .250 7.625 .0500 7.575 09/01/2012
600116764 Piric,Sahin 8.125 .250 7.875 .0500 7.825 09/01/2012
600116765 Spreeman,Richard J 7.875 .250 7.625 .0500 7.575 09/01/2012
600116769 Shanks,Charles B 8.250 .250 8.000 .0500 7.950 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>
600116741 Gizi,Antoon Silwa 268134 $1,212.01 01/01/1998 180
600116742 Park,Won Kyu 269686 $1,385.70 01/01/1998 180
600116743 Carry,Monte Jerome 280411 $673.01 01/01/1998 180
600116749 Nedza,Jeffrey W. 242616 $261.56 01/01/1998 180
600116752 Artis,La Velle 259159 $229.89 7 01/01/1998 180
600116753 Olson,Donald R 260302 $1,003.44 01/01/1998 180
600116755 Nicholson,James W. 264884 $287.84 2 01/01/1998 180
600116756 Stanberry,Bennie J 268139 $1,287.87 01/01/1998 180
600116759 Delaura,Dennis R 254674 $1,060.92 01/01/1998 180
600116760 Evans,Larry R. 262504 $503.57 14 01/01/1998 180
600116761 Barlev,Avinoam 267544 $425.86 01/01/1998 180
600116764 Piric,Sahin 259942 $1,444.33 01/01/1998 180
600116765 Spreeman,Richard J 260339 $785.32 18 01/01/1998 180
600116769 Shanks,Charles B 261152 $450.15 01/01/1998 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>
600116741 Gizi,Antoon Silwa $155,000.00 N
600116742 Park,Won Kyu $200,000.00 N
600116743 Carry,Monte Jerome $121,000.00 N
600116749 Nedza,Jeffrey W. $32,000.00 N
600116752 Artis,La Velle $25,000.00 N
600116753 Olson,Donald R $245,000.00 N
600116755 Nicholson,James W. $32,000.00 N
600116756 Stanberry,Bennie J $177,000.00 N
600116759 Delaura,Dennis R $139,500.00 N
600116760 Evans,Larry R. $53,000.00 N
600116761 Barlev,Avinoam $59,900.00 N
600116764 Piric,Sahin $200,000.00 N
600116765 Spreeman,Richard J $92,000.00 N
600116769 Shanks,Charles B $80,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 21
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116771 Lang,Truc Troa 3665 Brown Avenue Oakland CA 94619 $108,166.32
600116773 Gatto,Tony 17 Primrose Lane West Chester PA 19380 $207,491.24
600116776 Barrett,Joseph B. 1286 Parkview Drive North Tonawanda NY 14120 $58,670.27
600116780 Slomiak,Jackson C. 169 Naples Road Brookline MA 02146 $197,587.42
600116781 Wong,Rachel Yu 2120 Cimarron Hill Drive Henderson NV 89014 $70,461.99
600116786 Peden,Ewell 40924 Oakwood Road Madera CA 93638 $98,832.44
600116788 Brown Jr,Samuel J 7435 Oak Village Drive Rye TX 77369 $35,615.14
600116789 Brown,Allen G 104 Prospect Road Mount Airy MD 21771 $98,832.46
600116791 Jones,Gary D 211 North Hayes Avenue Pocatello ID 83201 $41,115.61
600116792 De Marais,Christian J. 1280 Warner Street Chico CA 95926 $75,606.80
600116795 Miller,Arthur F. 1451 Whipple Road Tewksbury MA 01876 $39,543.07
600116796 Entgelmeier,Merne Luanne 4211/2 Greenwood Street Florence OR 97439 $69,181.60
600116797 Urenda,Marcial 7855 Yellow Pine Drive Houston TX 77040 $49,465.61
600116799 Mulligan,Robert A 3783 Saltmeadow Court Sou Jacksonville FL 32224 $79,065.96
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116771 Lang,Truc Troa 7.625 .250 7.375 .0500 7.325 09/01/2012
600116773 Gatto,Tony 8.000 .250 7.750 .0500 7.700 09/01/2012
600116776 Barrett,Joseph B. 8.000 .250 7.750 .0500 7.700 09/01/2012
600116780 Slomiak,Jackson C. 7.625 .250 7.375 .0500 7.325 09/01/2012
600116781 Wong,Rachel Yu 9.375 .250 9.125 .0500 9.075 09/01/2011
600116786 Peden,Ewell 8.000 .250 7.750 .0500 7.700 09/01/2012
600116788 Brown Jr,Samuel J 9.000 .250 8.750 .0500 8.700 09/01/2012
600116789 Brown,Allen G 8.000 .250 7.750 .0500 7.700 09/01/2012
600116791 Jones,Gary D 9.250 .250 9.000 .0500 8.950 09/01/2012
600116792 De Marais,Christian J. 8.000 .250 7.750 .0500 7.700 09/01/2012
600116795 Miller,Arthur F. 8.250 .250 8.000 .0500 7.950 09/01/2012
600116796 Entgelmeier,Merne Luanne 8.000 .250 7.750 .0500 7.700 09/01/2012
600116797 Urenda,Marcial 8.000 .250 7.750 .0500 7.700 09/01/2012
600116799 Mulligan,Robert A 8.000 .250 7.750 .0500 7.700 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>
600116771 Lang,Truc Troa 261811 $1,027.54 01/01/1998 180
600116773 Gatto,Tony 268120 $2,025.99 01/01/1998 180
600116776 Barrett,Joseph B. 254602 $569.57 01/01/1998 180
600116780 Slomiak,Jackson C. 280394 $1,868.26 01/01/1998 180
600116781 Wong,Rachel Yu 184135 $764.05 01/01/1998 180
600116786 Peden,Ewell 263663 $955.65 01/01/1998 180
600116788 Brown Jr,Samuel J 271766 $365.14 1 01/01/1998 180
600116789 Brown,Allen G 268192 $955.65 01/01/1998 180
600116791 Jones,Gary D 259887 $427.63 01/01/1998 180
600116792 De Marais,Christian J. 260652 $731.08 2 01/01/1998 180
600116795 Miller,Arthur F. 271675 $388.06 01/01/1998 180
600116796 Entgelmeier,Merne Luanne 274896 $668.96 01/01/1998 180
600116797 Urenda,Marcial 280403 $478.31 01/01/1998 180
600116799 Mulligan,Robert A 274462 $764.52 01/01/1998 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>
600116771 Lang,Truc Troa $180,000.00 N
600116773 Gatto,Tony $267,000.00 N
600116776 Barrett,Joseph B. $74,500.00 N
600116780 Slomiak,Jackson C. $375,000.00 N
600116781 Wong,Rachel Yu $134,000.00 N
600116786 Peden,Ewell $295,000.00 N
600116788 Brown Jr,Samuel J $40,000.00 N
600116789 Brown,Allen G $507,000.00 N
600116791 Jones,Gary D $55,400.00 N
600116792 De Marais,Christian J. $90,000.00 N
600116795 Miller,Arthur F. $165,000.00 N
600116796 Entgelmeier,Merne Luanne $130,000.00 N
600116797 Urenda,Marcial $71,500.00 N
600116799 Mulligan,Robert A $258,327.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 22
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116800 Norwood,James Michael 2325-2327 Weddington Aven Charlotte NC 28204 $49,243.02
600116802 Pham,Hoang Huy 101 Sunset Avenue San Jose CA 95116 $114,965.26
600116805 Davis,Paul 195 Soldier Pass Road Sedona AZ 86336 $224,231.91
600116806 Rebmann,Michael K 16972 West Lancashire Dri Loxahatchee FL 33470 $102,785.73
600116809 Sanfason,John E. 19 Highland Avenue Sanford ME 04073 $34,638.19
600116811 Sam,George 77-08 249th Street, Unit Bellerose NY 11422 $57,809.47
600116813 Miller,John A 209 Penn Street Waxahachie TX 75165 $52,642.60
600116814 Carlson,Albert Kendall 4842 South Boyes Street Salt Lake City UT 84117 $100,843.66
600116819 Cooper Ii,Robert L 819 Gibbard Ave Columbus OH 43201 $33,290.25
600116820 Russell,Phillip M. 20 Kestral Way Key West FL 33040 $159,902.38
600116822 Shields,Jeffrey G. 3361 South Honeycut Road Salt Lake City UT 84106 $83,831.34
600116825 Lin,Mike 21 Demarest St Norwood NJ 07648 $159,098.44
600116826 Shipp,James M. 2302 Engle Drive Riverside CA 92506 $108,701.64
600116828 Lopresti, Jr.,Robert A 606 Mineral Springs Drive Mc Henry IL 60050 $170,529.55
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116800 Norwood,James Michael 9.125 .250 8.875 .0500 8.825 09/01/2012
600116802 Pham,Hoang Huy 8.625 .250 8.375 .0500 8.325 09/01/2012
600116805 Davis,Paul 7.500 .250 7.250 .0500 7.200 09/01/2012
600116806 Rebmann,Michael K 8.000 .250 7.750 .0500 7.700 09/01/2012
600116809 Sanfason,John E. 9.375 .250 9.125 .0500 9.075 09/01/2012
600116811 Sam,George 7.875 .250 7.625 .0500 7.575 09/01/2012
600116813 Miller,John A 8.250 .250 8.000 .0500 7.950 09/01/2012
600116814 Carlson,Albert Kendall 8.336 .250 8.086 .0500 8.036 09/01/2012
600116819 Cooper Ii,Robert L 9.000 .250 8.750 .0500 8.700 09/01/2012
600116820 Russell,Phillip M. 8.250 .250 8.000 .0500 7.950 09/01/2012
600116822 Shields,Jeffrey G. 8.250 .250 8.000 .0500 7.950 09/01/2012
600116825 Lin,Mike 8.875 .250 8.625 .0500 8.575 09/01/2012
600116826 Shipp,James M. 7.875 .250 7.625 .0500 7.575 09/01/2012
600116828 Lopresti, Jr.,Robert A 8.250 .250 8.000 .0500 7.950 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>
600116800 Norwood,James Michael 262407 $510.86 01/01/1998 180
600116802 Pham,Hoang Huy 258383 $1,153.29 01/01/1998 180
600116805 Davis,Paul 271698 $2,104.32 01/01/1998 180
600116806 Rebmann,Michael K 274461 $993.88 01/01/1998 180
600116809 Sanfason,John E. 261470 $362.84 01/01/1998 180
600116811 Sam,George 257842 $554.85 14 01/01/1998 180
600116813 Miller,John A 269667 $519.03 01/01/1998 180
600116814 Carlson,Albert Kendall 268266 $994.65 01/01/1998 180
600116819 Cooper Ii,Robert L 268271 $341.31 01/01/1998 180
600116820 Russell,Phillip M. 280397 $1,569.20 01/01/1998 180
600116822 Shields,Jeffrey G. 271692 $822.68 01/01/1998 180
600116825 Lin,Mike 262693 $1,620.02 01/01/1998 180
600116826 Shipp,James M. 264115 $1,043.29 01/01/1998 180
600116828 Lopresti, Jr.,Robert A 274186 $1,673.50 01/01/1998 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>
600116800 Norwood,James Michael $80,000.00 N
600116802 Pham,Hoang Huy $155,000.00 N
600116805 Davis,Paul $350,000.00 N
600116806 Rebmann,Michael K $130,000.00 N
600116809 Sanfason,John E. $78,000.00 N
600116811 Sam,George $65,000.00 N
600116813 Miller,John A $78,000.00 N
600116814 Carlson,Albert Kendall $170,000.00 N
600116819 Cooper Ii,Robert L $44,900.00 N
600116820 Russell,Phillip M. $202,219.00 N
600116822 Shields,Jeffrey G. $178,000.00 N
600116825 Lin,Mike $229,900.00 N
600116826 Shipp,James M. $185,000.00 N
600116828 Lopresti, Jr.,Robert A $230,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 23
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116829 Spears,Craig D. 63 Wait Street Roxbury MA 02120 $93,973.09
600116831 Nguyen,Lucky 3908 Haack Way Elk Grove CA 95758 $44,451.25
600116833 Downs,Robert W 11918 Thurloe Drive Lutherville Tim MD 21093 $133,508.02
600116834 Funck,Joey J. 2001 Shaeffer Road Mount Joy Towns PA 18344 $98,780.58
600116836 Nishida,Audie K. 23063 Siskin Court Grand Terrace CA 92324 $109,325.15
600116837 Aguirre,Francisco Javier 1531 West Pomona Street Santa Ana CA 92704 $120,606.39
600116838 Miller,Dean L 138 Viewmont Avenue Vallejo CA 94590 $69,209.14
600116839 Ciborski,Phyllis 224 Evergreen Avenue Bethpage NY 11714 $98,857.73
600116841 Stewart, Jr.,Robert J. 2287 Cottage Court Marietta GA 30060 $64,508.53
600116842 Globensky,Richard L 2036 175th Avenue Ne Anoka MN 55304 $81,073.56
600116844 Bukowiecki,Fern 25 Hawthorn Drive Unit #1 Succasunna NJ 07876 $161,878.14
600116845 Quog,Richard C 10179 Camanche Parkway So Wallace CA 95254 $184,642.19
600116846 Sanghera,Sarjit S 2345 Tammy Lane Selma CA 93662 $77,023.60
600116847 Usry,Layfatte H. 628 South Grace Street Lombard IL 60148 $118,702.82
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116829 Spears,Craig D. 8.875 .250 8.625 .0500 8.575 09/01/2012
600116831 Nguyen,Lucky 7.500 .250 7.250 .0500 7.200 09/01/2012
600116833 Downs,Robert W 8.625 .250 8.375 .0500 8.325 09/01/2012
600116834 Funck,Joey J. 7.500 .250 7.250 .0500 7.200 09/01/2012
600116836 Nishida,Audie K. 8.250 .250 8.000 .0500 7.950 09/01/2012
600116837 Aguirre,Francisco Javier 8.250 .250 8.000 .0500 7.950 09/01/2012
600116838 Miller,Dean L 8.375 .250 8.125 .0500 8.075 09/01/2012
600116839 Ciborski,Phyllis 8.250 .250 8.000 .0500 7.950 09/01/2012
600116841 Stewart, Jr.,Robert J. 8.250 .250 8.000 .0500 7.950 09/01/2012
600116842 Globensky,Richard L 8.375 .250 8.125 .0500 8.075 09/01/2012
600116844 Bukowiecki,Fern 8.125 .250 7.875 .0500 7.825 09/01/2012
600116845 Quog,Richard C 8.125 .250 7.875 .0500 7.825 09/01/2012
600116846 Sanghera,Sarjit S 7.500 .250 7.250 .0500 7.200 09/01/2012
600116847 Usry,Layfatte H. 8.875 .250 8.625 .0500 8.575 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>
600116829 Spears,Craig D. 260584 $956.50 01/01/1998 180
600116831 Nguyen,Lucky 263602 $417.16 01/01/1998 180
600116833 Downs,Robert W 268194 $1,339.31 01/01/1998 180
600116834 Funck,Joey J. 264130 $927.01 01/01/1998 180
600116836 Nishida,Audie K. 261824 $1,076.86 01/01/1998 180
600116837 Aguirre,Francisco Javier 274443 $1,183.58 01/01/1998 180
600116838 Miller,Dean L 273899 $684.20 01/01/1998 180
600116839 Ciborski,Phyllis 260023 $970.14 01/01/1998 180
600116841 Stewart, Jr.,Robert J. 270410 $639.32 2 01/01/1998 180
600116842 Globensky,Richard L 274381 $801.49 01/01/1998 180
600116844 Bukowiecki,Fern 246206 $1,588.76 01/01/1998 180
600116845 Quog,Richard C 265817 $1,805.41 01/01/1998 180
600116846 Sanghera,Sarjit S 266217 $723.07 01/01/1998 180
600116847 Usry,Layfatte H. 271696 $1,208.22 01/01/1998 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>
600116829 Spears,Craig D. $148,000.00 N
600116831 Nguyen,Lucky $159,000.00 N
600116833 Downs,Robert W $175,000.00 N
600116834 Funck,Joey J. $145,000.00 N
600116836 Nishida,Audie K. $148,000.00 N
600116837 Aguirre,Francisco Javier $163,000.00 N
600116838 Miller,Dean L $132,000.00 N
600116839 Ciborski,Phyllis $178,000.00 N
600116841 Stewart, Jr.,Robert J. $82,000.00 N
600116842 Globensky,Richard L $125,000.00 N
600116844 Bukowiecki,Fern $291,990.00 N
600116845 Quog,Richard C $250,000.00 N
600116846 Sanghera,Sarjit S $98,000.00 N
600116847 Usry,Layfatte H. $150,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 24
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116848 Sansone,John C 01-02 St. John Court New Orleans LA 70119 $44,661.90
600116850 La Cavalla,John J 44 Tina Lane Hopewell Juncti NY 12533 $123,399.67
600116851 Sugg Jr,Robert S 5266 William Street Unit Lancaster NY 14086 $57,351.88
600116852 Dustin,Michael 47 Glen Avenue Norwalk CT 06850 $192,796.90
600116856 Fisher,Harold 55 Federal Lane Dennis MA 02601 $155,700.92
600116859 Morris,Louis A. 4064 Morrison Burton MI 48529 $41,085.18
600116860 Hooey,Richard 1705 67th St Ct E. Bradenton FL 34208 $123,603.19
600116862 Piotrowski,Kari L 3713 El Cederal Ave Las Vegas NV 89102 $49,435.07
600116864 Zambrano,Oscar 1025 Alton Road #403 Miami Beach FL 33139 $57,040.88
600116866 Calver,Robert L 105 W Pleasant Street Manlius NY 13104 $45,991.76
600116875 Famighetti,Joseph P. 128 Pine Street New Hyde Park NY 11040 $93,914.82
600116876 Zdrilic,Janko 110 Oliver Road Bedford NY 10506 $88,987.12
600116881 Rillo, Jr.,James J. 14351 County Road 27 Fairhope AL 36532 $98,870.19
600116882 Metcalfe,Jeffrey C. 1073 Abagail Drive Deltona FL 32725 $44,265.38
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116848 Sansone,John C 8.875 .250 8.625 .0500 8.575 09/01/2012
600116850 La Cavalla,John J 8.500 .250 8.250 .0500 8.200 09/01/2012
600116851 Sugg Jr,Robert S 8.500 .250 8.250 .0500 8.200 09/01/2012
600116852 Dustin,Michael 8.375 .250 8.125 .0500 8.075 09/01/2012
600116856 Fisher,Harold 8.250 .250 8.000 .0500 7.950 09/01/2012
600116859 Morris,Louis A. 9.750 .250 9.500 .0500 9.450 09/01/2012
600116860 Hooey,Richard 8.500 .250 8.250 .0500 8.200 09/01/2012
600116862 Piotrowski,Kari L 8.375 .250 8.125 .0500 8.075 09/01/2012
600116864 Zambrano,Oscar 8.250 .250 8.000 .0500 7.950 09/01/2012
600116866 Calver,Robert L 8.750 .250 8.500 .0500 8.450 09/01/2012
600116875 Famighetti,Joseph P. 8.250 .250 8.000 .0500 7.950 09/01/2012
600116876 Zdrilic,Janko 8.625 .250 8.375 .0500 8.325 09/01/2012
600116881 Rillo, Jr.,James J. 8.375 .250 8.125 .0500 8.075 09/01/2012
600116882 Metcalfe,Jeffrey C. 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>
600116848 Sansone,John C 274409 $454.60 01/01/1998 180
600116850 La Cavalla,John J 253530 $1,230.92 01/01/1998 180
600116851 Sugg Jr,Robert S 253935 $571.15 01/01/1998 180
600116852 Dustin,Michael 261346 $1,905.98 01/01/1998 180
600116856 Fisher,Harold 265374 $1,527.97 01/01/1998 180
600116859 Morris,Louis A. 273419 $439.64 01/01/1998 180
600116860 Hooey,Richard 273913 $1,230.93 01/01/1998 180
600116862 Piotrowski,Kari L 266430 $488.72 01/01/1998 180
600116864 Zambrano,Oscar 274429 $559.78 01/01/1998 180
600116866 Calver,Robert L 261591 $464.74 01/01/1998 180
600116875 Famighetti,Joseph P. 253536 $921.64 01/01/1998 180
600116876 Zdrilic,Janko 258444 $892.87 01/01/1998 180
600116881 Rillo, Jr.,James J. 270383 $977.43 01/01/1998 180
600116882 Metcalfe,Jeffrey C. 271679 $421.70 01/01/1998 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>
600116848 Sansone,John C $64,000.00 N
600116850 La Cavalla,John J $180,000.00 N
600116851 Sugg Jr,Robert S $930,000.00 N
600116852 Dustin,Michael $270,000.00 N
600116856 Fisher,Harold $210,000.00 N
600116859 Morris,Louis A. $57,500.00 N
600116860 Hooey,Richard $171,000.00 N
600116862 Piotrowski,Kari L $99,500.00 N
600116864 Zambrano,Oscar $77,000.00 N
600116866 Calver,Robert L $62,000.00 N
600116875 Famighetti,Joseph P. $265,000.00 N
600116876 Zdrilic,Janko $420,000.00 N
600116881 Rillo, Jr.,James J. $315,000.00 N
600116882 Metcalfe,Jeffrey C. $56,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 25
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116883 Guan,Wei Ming 4820 Newlands Street Metairie LA 70006 $96,146.66
600116884 Pell,Albert H 6358 South Atlantic Avenu New Smyrna Beac FL 32169 $162,579.38
600116885 Stein,Barry 41578 Mckenzie Hwy. Springfield OR 97478 $123,897.02
600116889 Bach,Fred S 130 Underwood Avenue Greensburg PA 15601 $78,315.02
600116891 Ebner,Deborah A 5956 William Dr Dallas GA 30132 $53,304.31
600116892 Traylor,Bobbie D. 106 East Chico Drive Garland TX 75041 $43,246.90
600116893 Chang Sr,Cesar A 2982 Beachwood Boulevard Jacksonville FL 32246 $36,568.01
600116894 Mayers,Kathleen S. 3734 North 28th Street Tacoma WA 98407 $63,416.50
600116895 Maiuro,Joseph K. 3211 N. E. 7th Avenue Pompano Beach FL 33064 $127,460.66
600116896 Maiuro,Joseph K 3231 N. E. 7th Avenue Pompano Beach FL 33064 $127,460.66
600116897 Maiuro,Joseph K 3121 N. E. 7th Avenue Pompano Beach FL 33064 $127,460.66
600116898 Maiuro,Joseph K. 3221 N. E. 7th Avenue Pompano Beach FL 33064 $127,460.66
600116899 Melinski,Margaret A 243 Main St Newburg WI 53060 $41,897.25
600116901 Hale,W. Curtis 460 Voiles Street, Unit D Brighton CO 80601 $54,872.92
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116883 Guan,Wei Ming 8.250 .250 8.000 .0500 7.950 09/01/2012
600116884 Pell,Albert H 8.000 .250 7.750 .0500 7.700 09/01/2012
600116885 Stein,Barry 7.875 .250 7.625 .0500 7.575 10/01/2012
600116889 Bach,Fred S 8.500 .250 8.250 .0500 8.200 09/01/2012
600116891 Ebner,Deborah A 8.625 .250 8.375 .0500 8.325 09/01/2012
600116892 Traylor,Bobbie D. 8.500 .250 8.250 .0500 8.200 09/01/2012
600116893 Chang Sr,Cesar A 8.000 .250 7.750 .0500 7.700 09/01/2012
600116894 Mayers,Kathleen S. 7.500 .250 7.250 .0500 7.200 10/01/2012
600116895 Maiuro,Joseph K. 7.750 .250 7.500 .0500 7.450 09/01/2012
600116896 Maiuro,Joseph K 7.750 .250 7.500 .0500 7.450 09/01/2012
600116897 Maiuro,Joseph K 7.750 .250 7.500 .0500 7.450 09/01/2012
600116898 Maiuro,Joseph K. 7.750 .250 7.500 .0500 7.450 09/01/2012
600116899 Melinski,Margaret A 9.000 .250 8.750 .0500 8.700 09/01/2012
600116901 Hale,W. Curtis 8.375 .250 8.125 .0500 8.075 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>
600116883 Guan,Wei Ming 274170 $945.89 01/01/1998 180
600116884 Pell,Albert H 279035 $1,572.05 01/01/1998 180
600116885 Stein,Barry 267169 $1,185.57 01/01/1998 180
600116889 Bach,Fred S 264819 $779.91 01/01/1998 180
600116891 Ebner,Deborah A 271263 $534.73 01/01/1998 180
600116892 Traylor,Bobbie D. 275228 $435.75 01/01/1998 180
600116893 Chang Sr,Cesar A 280424 $353.59 01/01/1998 180
600116894 Mayers,Kathleen S. 267256 $593.29 01/01/1998 180
600116895 Maiuro,Joseph K. 264359 $1,214.25 01/01/1998 180
600116896 Maiuro,Joseph K 264364 $1,214.25 01/01/1998 180
600116897 Maiuro,Joseph K 264369 $1,214.25 01/01/1998 180
600116898 Maiuro,Joseph K. 264441 $1,214.25 01/01/1998 180
600116899 Melinski,Margaret A 259914 $429.55 01/01/1998 180
600116901 Hale,W. Curtis 274179 $542.48 01/01/1998 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>
600116883 Guan,Wei Ming $130,000.00 N
600116884 Pell,Albert H $235,000.00 N
600116885 Stein,Barry $300,000.00 N
600116889 Bach,Fred S $99,000.00 N
600116891 Ebner,Deborah A $71,900.00 N
600116892 Traylor,Bobbie D. $59,000.00 N
600116893 Chang Sr,Cesar A $67,000.00 N
600116894 Mayers,Kathleen S. $107,000.00 N
600116895 Maiuro,Joseph K. $172,000.00 N
600116896 Maiuro,Joseph K $172,000.00 N
600116897 Maiuro,Joseph K $172,000.00 N
600116898 Maiuro,Joseph K. $172,000.00 N
600116899 Melinski,Margaret A $60,500.00 N
600116901 Hale,W. Curtis $83,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 26
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116902 Hale,Curtis 460 Voiles Street, Unit E Brighton CO 80601 $61,554.37
600116903 Hale,Curtis 460 Voiles Street Unit K Brighton CO 80601 $61,554.37
600116904 Hale,W. Cutris 460 Voiles Street Unit F Brighton CO 80601 $43,997.21
600116909 Maclauchlan,Martin P. 3551 Clintwood Road Midlothian VA 23112 $98,832.43
600116910 Kornman,Richard J 1325-27 Hillary St New Orleans LA 70118 $75,682.18
600116913 Conwell,Duane Robert 760 Gloucester Drive, Uni Elk Grove Villa IL 60007 $81,212.53
600116914 Adams,Malcolm E 3285 Canyon Drive #15 Billings MT 59102 $46,399.59
600116916 Tran,Si 1219 Riobisi Circle San Jose CA 95131 $99,155.60
600116917 Kime,David Robert 823 A Street Eureka CA 95501 $72,355.86
600116921 Silva,Maria G. 650 Hancock Street Fall River MA 02721 $43,152.53
600116923 Khanthavong,Khong 6971 Clay Street Westminster CO 80030 $75,314.59
600116924 Miller,Douglas L. 2133 Norman Lane Pueblo CO 81005 $87,048.72
600116927 Dempsey,Stanley R. 4835 Canyon Drive Reno NV 89509 $162,306.61
600116928 Parks,Patricia Hodge 4374 Cochran Chapel Circl Dallas TX 75209 $108,986.16
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116902 Hale,Curtis 8.500 .250 8.250 .0500 8.200 09/01/2012
600116903 Hale,Curtis 8.500 .250 8.250 .0500 8.200 09/01/2012
600116904 Hale,W. Cutris 8.375 .250 8.125 .0500 8.075 09/01/2012
600116909 Maclauchlan,Martin P. 8.000 .250 7.750 .0500 7.700 09/01/2012
600116910 Kornman,Richard J 9.000 .250 8.750 .0500 8.700 09/01/2012
600116913 Conwell,Duane Robert 8.875 .250 8.625 .0500 8.575 09/01/2012
600116914 Adams,Malcolm E 8.375 .250 8.125 .0500 8.075 09/01/2012
600116916 Tran,Si 8.375 .250 8.125 .0500 8.075 10/01/2012
600116917 Kime,David Robert 7.875 .250 7.625 .0500 7.575 10/01/2012
600116921 Silva,Maria G. 9.000 .250 8.750 .0500 8.700 10/01/2012
600116923 Khanthavong,Khong 7.625 .250 7.375 .0500 7.325 10/01/2012
600116924 Miller,Douglas L. 8.875 .250 8.625 .0500 8.575 09/01/2012
600116927 Dempsey,Stanley R. 7.500 .250 7.250 .0500 7.200 10/01/2012
600116928 Parks,Patricia Hodge 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>
600116902 Hale,Curtis 274192 $613.01 01/01/1998 180
600116903 Hale,Curtis 274400 $613.01 01/01/1998 180
600116904 Hale,W. Cutris 274427 $434.96 01/01/1998 180
600116909 Maclauchlan,Martin P. 267195 $955.65 01/01/1998 180
600116910 Kornman,Richard J 254572 $775.92 01/01/1998 180
600116913 Conwell,Duane Robert 263362 $826.62 01/01/1998 180
600116914 Adams,Malcolm E 272447 $459.40 01/01/1998 180
600116916 Tran,Si 266960 $977.43 01/01/1998 180
600116917 Kime,David Robert 274910 $692.37 01/01/1998 180
600116921 Silva,Maria G. 266875 $441.21 01/01/1998 180
600116923 Khanthavong,Khong 284130 $709.94 01/01/1998 180
600116924 Miller,Douglas L. 280418 $886.03 01/01/1998 180
600116927 Dempsey,Stanley R. 275805 $1,518.45 01/01/1998 180
600116928 Parks,Patricia Hodge 284213 $1,011.92 01/01/1998 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>
600116902 Hale,Curtis $83,000.00 N
600116903 Hale,Curtis $83,000.00 N
600116904 Hale,W. Cutris $83,000.00 N
600116909 Maclauchlan,Martin P. $137,500.00 N
600116910 Kornman,Richard J $102,000.00 N
600116913 Conwell,Duane Robert $109,500.00 N
600116914 Adams,Malcolm E $59,900.00 N
600116916 Tran,Si $144,000.00 N
600116917 Kime,David Robert $133,500.00 N
600116921 Silva,Maria G. $132,000.00 N
600116923 Khanthavong,Khong $107,000.00 N
600116924 Miller,Douglas L. $110,000.00 N
600116927 Dempsey,Stanley R. $234,000.00 N
600116928 Parks,Patricia Hodge $200,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 27
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116929 Lu Tu,Ai Chu 811 Salt Lake Drive San Jose CA 95133 $145,496.03
600116932 White,Joseph J. 7 Pratt Street Allston MA 02134 $157,079.80
600116933 Wheeler,Carla Jo 3435 Canyon Drive Post Falls ID 83854 $44,484.84
600116936 Kuchar,Jeffrey 1809 Missouri Houston TX 77006 $144,406.48
600116937 Lamy,Bryan P. 3244 Pinchem Creek Drive Rescue CA 95672 $221,957.76
600116938 Peifer,John C. Lot 19, Sec. 1 Bayview We Selbyville DE 19975 $60,854.45
600116939 Quast,Dale J. 14664 57th Street North Stillwater MN 55082 $86,073.94
600116940 De Canio,Brian J 14 Highland Avenue West Islip NY 11795 $98,182.36
600116945 Sowers,Kirk 290 Nw 6th Street Boca Raton FL 33432 $168,500.00
600116946 Marlow,Elizabeth 11626 S W 6th Lane Gainesville FL 32607 $178,394.28
600116947 Moreland,Deborah K 6410 Wood Valley Road Douglasville GA 30134 $148,647.25
600116948 Agarwal,Satish 3700 Struble Road Endicott NY 13760 $98,324.48
600116949 Mihalik,Gregory 925 Mifflin Avenue Pittsburgh PA 15221 $95,072.16
600116950 Siguardson,Linda H. 206 Hood Avenue Fort Walton Bea FL 32548 $153,691.19
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116929 Lu Tu,Ai Chu 8.000 .250 7.750 .0500 7.700 10/01/2012
600116932 White,Joseph J. 8.875 .250 8.625 .0500 8.575 09/01/2012
600116933 Wheeler,Carla Jo 8.250 .250 8.000 .0500 7.950 09/01/2012
600116936 Kuchar,Jeffrey 8.250 .250 8.000 .0500 7.950 10/01/2012
600116937 Lamy,Bryan P. 7.500 .250 7.250 .0500 7.200 10/01/2012
600116938 Peifer,John C. 8.875 .250 8.625 .0500 8.575 10/01/2012
600116939 Quast,Dale J. 7.875 .250 7.625 .0500 7.575 10/01/2012
600116940 De Canio,Brian J 8.625 .250 8.375 .0500 8.325 10/01/2012
600116945 Sowers,Kirk 7.875 .250 7.625 .0500 7.575 10/01/2012
600116946 Marlow,Elizabeth 7.750 .250 7.500 .0500 7.450 10/01/2012
600116947 Moreland,Deborah K 7.625 .250 7.375 .0500 7.325 10/01/2012
600116948 Agarwal,Satish 8.250 .250 8.000 .0500 7.950 10/01/2012
600116949 Mihalik,Gregory 8.125 .250 7.875 .0500 7.825 10/01/2012
600116950 Siguardson,Linda H. 8.375 .250 8.125 .0500 8.075 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>
600116929 Lu Tu,Ai Chu 284149 $1,500.37 01/01/1998 180
600116932 White,Joseph J. 263326 $1,600.88 01/01/1998 180
600116933 Wheeler,Carla Jo 265661 $436.57 01/01/1998 180
600116936 Kuchar,Jeffrey 275227 $1,413.01 7 01/01/1998 180
600116937 Lamy,Bryan P. 275233 $2,076.51 01/01/1998 180
600116938 Peifer,John C. 275237 $617.70 01/01/1998 180
600116939 Quast,Dale J. 275252 $825.16 01/01/1998 180
600116940 De Canio,Brian J 263205 $982.16 01/01/1998 180
600116945 Sowers,Kirk 278322 $1,612.36 01/01/1998 180
600116946 Marlow,Elizabeth 282561 $1,694.30 01/01/1998 180
600116947 Moreland,Deborah K 284137 $1,401.19 01/01/1998 180
600116948 Agarwal,Satish 264758 $970.14 01/01/1998 180
600116949 Mihalik,Gregory 274413 $923.41 01/01/1998 180
600116950 Siguardson,Linda H. 274721 $1,515.01 01/01/1998 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>
600116929 Lu Tu,Ai Chu $394,000.00 N
600116932 White,Joseph J. $215,000.00 N
600116933 Wheeler,Carla Jo $64,500.00 N
600116936 Kuchar,Jeffrey $161,860.00 N
600116937 Lamy,Bryan P. $280,000.00 N
600116938 Peifer,John C. $97,000.00 N
600116939 Quast,Dale J. $116,000.00 N
600116940 De Canio,Brian J $132,000.00 N
600116945 Sowers,Kirk $270,000.00 N
600116946 Marlow,Elizabeth $312,500.00 N
600116947 Moreland,Deborah K $250,000.00 N
600116948 Agarwal,Satish $137,500.00 N
600116949 Mihalik,Gregory $165,000.00 N
600116950 Siguardson,Linda H. $310,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 28
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116952 Reisinger,Raymond J. 243 Fosdick Avenue Cincinnati OH 45219 $56,341.20
600116953 Craven Jr,James H 3020 W Marshall Street Richmond VA 23219 $79,658.41
600116954 Craven Jr,James H 1303 Summit Avenue Richmond VA 23219 $83,616.59
600116955 Craven Jr,James H 3022 W Marshall Street Richmond VA 23219 $75,452.84
600116956 Craven Jr,James H 1305 Summit Ave Richmond VA 23219 $75,799.16
600116957 Craven, Jr.,James H. 3018 W. Marshall St. Richmond VA 23219 $79,658.41
600116958 Gallo, Jr.,Marco 569 East Merrimack Street Lowell MA 01853 $48,211.23
600116959 Gallo, Jr.,Marco 569 East Merrimack Street Lowell MA 01853 $29,664.78
600116960 Gallo, Jr.,Marco 569 East Merrimack Street Lowell MA 01852 $51,913.34
600116961 Gallo, Jr.,Marco 569 East Merrimack Street Lowell MA 01851 $51,919.79
600116962 Gallo, Jr.,Marco 569 East Merrimack Street Lowell MA 01852 $33,624.24
600116966 Zarrin,Ali Reza 1288 E Kettle Avenue Littleton CO 80122 $54,560.67
600116967 Miller,Kenneth C. 4920 Deer Lodge Road New Port Richey FL 34655 $73,870.93
600116968 Smith,Jimmie L 4704 Sun Valley Dr El Paso TX 79924 $47,007.29
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116952 Reisinger,Raymond J. 8.875 .250 8.625 .0500 8.575 10/01/2012
600116953 Craven Jr,James H 9.250 .250 9.000 .0500 8.950 09/01/2012
600116954 Craven Jr,James H 9.250 .250 9.000 .0500 8.950 09/01/2012
600116955 Craven Jr,James H 9.250 .250 9.000 .0500 8.950 09/01/2012
600116956 Craven Jr,James H 9.250 .250 9.000 .0500 8.950 09/01/2012
600116957 Craven, Jr.,James H. 9.250 .250 9.000 .0500 8.950 09/01/2012
600116958 Gallo, Jr.,Marco 8.625 .250 8.375 .0500 8.325 09/01/2012
600116959 Gallo, Jr.,Marco 8.500 .250 8.250 .0500 8.200 09/01/2012
600116960 Gallo, Jr.,Marco 8.500 .250 8.250 .0500 8.200 09/01/2012
600116961 Gallo, Jr.,Marco 8.625 .250 8.375 .0500 8.325 09/01/2012
600116962 Gallo, Jr.,Marco 8.625 .250 8.375 .0500 8.325 09/01/2012
600116966 Zarrin,Ali Reza 9.000 .250 8.750 .0500 8.700 10/01/2012
600116967 Miller,Kenneth C. 8.375 .250 8.125 .0500 8.075 10/01/2012
600116968 Smith,Jimmie L 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>
600116952 Reisinger,Raymond J. 275229 $571.89 01/01/1998 180
600116953 Craven Jr,James H 263808 $828.50 01/01/1998 180
600116954 Craven Jr,James H 263811 $869.67 01/01/1998 180
600116955 Craven Jr,James H 263814 $784.76 01/01/1998 180
600116956 Craven Jr,James H 263815 $788.37 01/01/1998 180
600116957 Craven, Jr.,James H. 263818 $828.50 01/01/1998 180
600116958 Gallo, Jr.,Marco 263288 $483.64 01/01/1998 180
600116959 Gallo, Jr.,Marco 263289 $295.42 01/01/1998 180
600116960 Gallo, Jr.,Marco 263293 $516.99 01/01/1998 180
600116961 Gallo, Jr.,Marco 263295 $520.84 01/01/1998 180
600116962 Gallo, Jr.,Marco 263347 $337.31 01/01/1998 180
600116966 Zarrin,Ali Reza 275676 $557.85 01/01/1998 180
600116967 Miller,Kenneth C. 280409 $728.18 01/01/1998 180
600116968 Smith,Jimmie L 273892 $448.05 01/01/1998 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>
600116952 Reisinger,Raymond J. $72,000.00 N
600116953 Craven Jr,James H $140,000.00 N
600116954 Craven Jr,James H $140,000.00 N
600116955 Craven Jr,James H $140,000.00 N
600116956 Craven Jr,James H $140,000.00 N
600116957 Craven, Jr.,James H. $140,000.00 N
600116958 Gallo, Jr.,Marco $65,000.00 N
600116959 Gallo, Jr.,Marco $65,000.00 N
600116960 Gallo, Jr.,Marco $70,000.00 N
600116961 Gallo, Jr.,Marco $70,000.00 N
600116962 Gallo, Jr.,Marco $70,000.00 N
600116966 Zarrin,Ali Reza $181,000.00 N
600116967 Miller,Kenneth C. $125,000.00 N
600116968 Smith,Jimmie L $63,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 29
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116970 Roberts,Gregg T. 106-112 Main Street Wilmington MA 01887 $128,902.28
600116975 El Zoor,Wissam 17890 W. Dixie Highway #3 Miami FL 33160 $42,418.19
600116978 Wong,Tony Venh 7609 51st Avenue Sacramento CA 95828 $45,111.52
600116979 Needham,Allan B 4204 Los Padres Drive Fallbrook CA 92028 $104,796.28
600116980 To,Andy T M 6766 Tanglewood Road San Diego CA 92111 $162,520.98
600116981 Stockton,Robert 28 Valley View Road Bellingham MA 02019 $64,503.58
600116985 Denham,Caroline S. 3948-50 Camp Street New Orleans LA 70115 $128,095.13
600116990 Young,Jeffrey L 2929 Danforth Memorial Dr Texas City TX 77590 $29,475.72
600116991 Latham,Donald L. 11831 North 30th Place Phoenix AZ 85028 $18,738.14
600116992 Frey,Frances E 16234 North 19th Street Phoenix AZ 85022 $54,118.24
600116995 Gilkerson Jr,John J 1770 Marston Rd Columbus OH 43219 $32,866.95
600116996 Gilkerson Jr,John J 783 S Ohio Columbus OH 43206 $38,667.02
600116997 Gilkerson Jr,John J 870 E 13th Ave Columbus OH 43211 $30,933.60
600116998 Mourad,Moussa A 1410 Grand Falls Drive Missouri City TX 77459 $71,371.62
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116970 Roberts,Gregg T. 8.375 .250 8.125 .0500 8.075 10/01/2012
600116975 El Zoor,Wissam 7.750 .250 7.500 .0500 7.450 10/01/2012
600116978 Wong,Tony Venh 8.250 .250 8.000 .0500 7.950 10/01/2012
600116979 Needham,Allan B 7.625 .250 7.375 .0500 7.325 10/01/2012
600116980 To,Andy T M 7.625 .250 7.375 .0500 7.325 10/01/2012
600116981 Stockton,Robert 9.500 .250 9.250 .0500 9.200 10/01/2012
600116985 Denham,Caroline S. 8.750 .250 8.500 .0500 8.450 10/01/2012
600116990 Young,Jeffrey L 9.625 .250 9.375 .0500 9.325 10/01/2012
600116991 Latham,Donald L. 8.375 .250 8.125 .0500 8.075 10/01/2012
600116992 Frey,Frances E 7.875 .250 7.625 .0500 7.575 10/01/2012
600116995 Gilkerson Jr,John J 8.250 .250 8.000 .0500 7.950 10/01/2012
600116996 Gilkerson Jr,John J 8.250 .250 8.000 .0500 7.950 10/01/2012
600116997 Gilkerson Jr,John J 8.250 .250 8.000 .0500 7.950 10/01/2012
600116998 Mourad,Moussa A 8.000 .250 7.750 .0500 7.700 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>
600116970 Roberts,Gregg T. 275230 $1,270.65 01/01/1998 180
600116975 El Zoor,Wissam 267105 $402.87 01/01/1998 180
600116978 Wong,Tony Venh 275796 $441.42 01/01/1998 180
600116979 Needham,Allan B 276996 $987.85 01/01/1998 180
600116980 To,Andy T M 284136 $1,531.97 01/01/1998 180
600116981 Stockton,Robert 251074 $678.75 01/01/1998 180
600116985 Denham,Caroline S. 275234 $1,290.79 2 01/01/1998 180
600116990 Young,Jeffrey L 274983 $312.38 1 01/01/1998 180
600116991 Latham,Donald L. 277670 $185.72 01/01/1998 180
600116992 Frey,Frances E 284138 $517.85 01/01/1998 180
600116995 Gilkerson Jr,John J 267460 $321.61 01/01/1998 180
600116996 Gilkerson Jr,John J 267471 $378.36 01/01/1998 180
600116997 Gilkerson Jr,John J 267473 $302.69 01/01/1998 180
600116998 Mourad,Moussa A 275921 $688.07 01/01/1998 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>
600116970 Roberts,Gregg T. $200,000.00 N
600116975 El Zoor,Wissam $53,500.00 N
600116978 Wong,Tony Venh $74,000.00 N
600116979 Needham,Allan B $133,500.00 N
600116980 To,Andy T M $205,000.00 N
600116981 Stockton,Robert $140,000.00 N
600116985 Denham,Caroline S. $143,500.00 N
600116990 Young,Jeffrey L $33,000.00 N
600116991 Latham,Donald L. $90,000.00 N
600116992 Frey,Frances E $78,000.00 N
600116995 Gilkerson Jr,John J $49,000.00 N
600116996 Gilkerson Jr,John J $60,000.00 N
600116997 Gilkerson Jr,John J $48,000.00 N
600116998 Mourad,Moussa A $90,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 30
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600116999 Cutler,David J. 518 N. Orange Avenue Modesto CA 95350 $46,598.72
600117000 Ritzheimer,James R. 2916 Holly Street Tuscaloosa AL 35401 $43,156.40
600117003 Oliva,John B. 5608 Bismach Drive, #203 Alexandria VA 22312 $60,259.31
600117006 Wenzl,John J. 13715 North Church Road Rathdrum ID 83858 $54,550.77
600117007 Park,Jong Hee 2802 Enchanted Landing Ct Katy TX 77450 $131,839.31
600117008 Rust,R.b. Lee 89 Knickerbocker Road Pittsford NY 14534 $197,095.04
600117011 Heller,Arnold 3000 Colorado Avenue Unit Boulder CO 80303 $49,563.61
600117012 Hilanto,Bassem 5028 Linda Warren MI 48092 $68,353.34
600117013 Frenzilli,John 70 Farm Street Providence RI 02908 $53,449.86
600117014 Frenzelli,John 50 Maplehurst Ave Narragansett RI 02882 $65,944.63
600117017 White,W. W. 254 Cave Creek Road Fredericksburg TX 78624 $52,026.01
600117018 Munro,Stanley 817 Royal Oak Ct. El Paso TX 79932 $114,976.44
600117019 Edington,David 5646 Abaloosa Drive Colorado Spring CO 80918 $161,851.09
600117022 Roberts,R. B. 700 Forest Avenue N W Fort Payne AL 35967 $85,662.35
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600116999 Cutler,David J. 8.250 .250 8.000 .0500 7.950 10/01/2012
600117000 Ritzheimer,James R. 9.125 .250 8.875 .0500 8.825 10/01/2012
600117003 Oliva,John B. 8.875 .250 8.625 .0500 8.575 10/01/2012
600117006 Wenzl,John J. 8.750 .250 8.500 .0500 8.450 10/01/2012
600117007 Park,Jong Hee 8.000 .250 7.750 .0500 7.700 10/01/2012
600117008 Rust,R.b. Lee 8.875 .250 8.625 .0500 8.575 10/01/2012
600117011 Heller,Arnold 8.000 .250 7.750 .0500 7.700 10/01/2012
600117012 Hilanto,Bassem 8.250 .250 8.000 .0500 7.950 10/01/2007
600117013 Frenzilli,John 8.500 .250 8.250 .0500 8.200 10/01/2012
600117014 Frenzelli,John 8.500 .250 8.250 .0500 8.200 10/01/2012
600117017 White,W. W. 7.625 .250 7.375 .0500 7.325 10/01/2012
600117018 Munro,Stanley 7.875 .250 7.625 .0500 7.575 10/01/2012
600117019 Edington,David 9.000 .250 8.750 .0500 8.700 09/01/2012
600117022 Roberts,R. B. 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>
600116999 Cutler,David J. 277777 $455.97 01/01/1998 180
600117000 Ritzheimer,James R. 282857 $444.45 01/01/1998 180
600117003 Oliva,John B. 267170 $611.66 01/01/1998 180
600117006 Wenzl,John J. 277677 $549.70 01/01/1998 180
600117007 Park,Jong Hee 277773 $1,274.37 01/01/1998 180
600117008 Rust,R.b. Lee 278205 $2,000.60 01/01/1998 180
600117011 Heller,Arnold 284072 $477.83 01/01/1998 180
600117012 Hilanto,Bassem 277667 $858.57 01/01/1998 120
600117013 Frenzilli,John 253511 $530.78 01/01/1998 180
600117014 Frenzelli,John 253521 $654.86 01/01/1998 180
600117017 White,W. W. 275304 $490.42 01/01/1998 180
600117018 Munro,Stanley 280044 $1,100.21 01/01/1998 180
600117019 Edington,David 267089 $1,659.34 01/01/1998 180
600117022 Roberts,R. B. 275282 $838.20 01/01/1998 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>
600116999 Cutler,David J. $58,900.00 N
600117000 Ritzheimer,James R. $64,500.00 N
600117003 Oliva,John B. $81,000.00 N
600117006 Wenzl,John J. $95,000.00 N
600117007 Park,Jong Hee $192,500.00 N
600117008 Rust,R.b. Lee $265,000.00 N
600117011 Heller,Arnold $104,000.00 N
600117012 Hilanto,Bassem $125,000.00 N
600117013 Frenzilli,John $77,000.00 N
600117014 Frenzelli,John $95,000.00 N
600117017 White,W. W. $240,000.00 N
600117018 Munro,Stanley $145,000.00 N
600117019 Edington,David $204,500.00 N
600117022 Roberts,R. B. $108,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 31
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117028 Boyd,Charles W 69 Farm Street Providence RI 02908 $76,575.80
600117030 Mechura,Tommy W. 29535 County Road #25 Damon TX 77430 $63,453.59
600117031 Tobey,Rita 2408 Cattleman Drive Brandon FL 33511 $78,821.23
600117032 ABRAHAM,SARAMMA M 4146 Sarong Drive Houston TX 77025 $47,909.85
600117033 Boehm,Richard L 15435 West Verde Lane Goodyear AZ 85338 $74,338.22
600117034 Kulikov,Thomas R. 419 E Forest Court Coalinga CA 93210 $49,558.81
600117035 Fernandez,Georgina B. 12954 S W 119 Terrace Miami FL 33186 $45,995.98
600117036 Sears Jr,Louis E 1118 Taylors Island Road Woolford MD 21677 $50,092.09
600117042 Gentile,Michael P. 310 Birmingham Street Henderson NV 89014 $106,284.77
600117043 Hursh,John C 7860 Paseo Del Norte Tucson AZ 85704 $139,813.56
600117046 Kanyuck,Edwin J. 214 Avondale Avenue Houston TX 77006 $194,270.54
600117047 Parekh,Ashok 1302 Burnt Wood Court Lawrenceville GA 30244 $100,404.46
600117048 Sato,James F 2695 S Kihei Road #3-301 Kihei HI 96753 $99,164.89
600117051 Lee,Tam Van 2933 S Rosewood Avenue Santa Ana CA 92707 $128,357.31
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117028 Boyd,Charles W 8.000 .250 7.750 .0500 7.700 10/01/2012
600117030 Mechura,Tommy W. 8.250 .250 8.000 .0500 7.950 10/01/2012
600117031 Tobey,Rita 8.250 .250 8.000 .0500 7.950 10/01/2012
600117032 ABRAHAM,SARAMMA M 8.875 .250 8.625 .0500 8.575 10/01/2012
600117033 Boehm,Richard L 7.875 .250 7.625 .0500 7.575 10/01/2012
600117034 Kulikov,Thomas R. 7.875 .250 7.625 .0500 7.575 10/01/2012
600117035 Fernandez,Georgina B. 7.750 .250 7.500 .0500 7.450 10/01/2012
600117036 Sears Jr,Louis E 8.875 .250 8.625 .0500 8.575 10/01/2012
600117042 Gentile,Michael P. 8.250 .250 8.000 .0500 7.950 10/01/2012
600117043 Hursh,John C 7.500 .250 7.250 .0500 7.200 10/01/2012
600117046 Kanyuck,Edwin J. 7.875 .250 7.625 .0500 7.575 10/01/2012
600117047 Parekh,Ashok 8.500 .250 8.250 .0500 8.200 10/01/2012
600117048 Sato,James F 8.500 .250 8.250 .0500 8.200 10/01/2012
600117051 Lee,Tam Van 7.875 .250 7.625 .0500 7.575 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>
600117028 Boyd,Charles W 265191 $738.24 01/01/1998 180
600117030 Mechura,Tommy W. 267876 $620.89 01/01/1998 180
600117031 Tobey,Rita 275926 $771.27 01/01/1998 180
600117032 ABRAHAM,SARAMMA M 277774 $486.31 01/01/1998 180
600117033 Boehm,Richard L 284209 $711.34 01/01/1998 180
600117034 Kulikov,Thomas R. 264399 $474.23 01/01/1998 180
600117035 Fernandez,Georgina B. 271379 $436.85 01/01/1998 180
600117036 Sears Jr,Louis E 280058 $508.46 01/01/1998 180
600117042 Gentile,Michael P. 270628 $1,039.99 2 01/01/1998 180
600117043 Hursh,John C 271079 $1,308.02 01/01/1998 180
600117046 Kanyuck,Edwin J. 277779 $1,858.97 01/01/1998 180
600117047 Parekh,Ashok 277212 $997.05 01/01/1998 180
600117048 Sato,James F 279237 $984.74 01/01/1998 180
600117051 Lee,Tam Van 270649 $1,228.25 01/01/1998 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>
600117028 Boyd,Charles W $103,000.00 N
600117030 Mechura,Tommy W. $80,000.00 N
600117031 Tobey,Rita $106,000.00 N
600117032 ABRAHAM,SARAMMA M $69,000.00 N
600117033 Boehm,Richard L $142,200.00 N
600117034 Kulikov,Thomas R. $80,000.00 N
600117035 Fernandez,Georgina B. $137,000.00 N
600117036 Sears Jr,Louis E $63,500.00 N
600117042 Gentile,Michael P. $119,133.00 N
600117043 Hursh,John C $275,000.00 N
600117046 Kanyuck,Edwin J. $245,000.00 N
600117047 Parekh,Ashok $135,000.00 N
600117048 Sato,James F $189,000.00 N
600117051 Lee,Tam Van $175,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 32
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117055 Aguglia,Theodore E 4895 Arrowhead Dr Gorham NY 14544 $45,615.85
600117058 Driggers,William H 6409 Mesa Solana Place N Albuquerque NM 87120 $136,801.31
600117059 Bunting,Thomas L. 24803 Bauer Hockley Hockley TX 77447 $49,573.09
600117060 Spragg,Frank Wesley 4341 Coloma Drive S E Salem OR 97302 $85,661.80
600117061 Sneirson,Gerald M. 85 Weston Street Brockton MA 02401 $80,308.44
600117063 Peaslee,Shane A. 82-84 Lyman Street Pittsfield MA 01201 $54,778.30
600117064 Norwood,J Michael 711 Grandin Road Charlotte NC 28208 $72,912.90
600117067 Carter-hendricks,Treena 225 Fairway Ridge Drive Alpharetta GA 30202 $109,071.16
600117068 Quan,An Cam 1442 6th Avenue Oakland CA 94606 $126,832.99
600117070 Markovich,Michael J 7923 Golden Field Way Sacramento CA 95823 $57,488.23
600117071 Naylor,Julia Lee 7186 S. Cavalier Circle Salt Lake City UT 84121 $59,295.01
600117073 Miller,Yvonne B. 540 Parkway Avenue Penndel Borough PA 19047 $88,835.02
600117074 Mitchell,Kenneth S 62 64 Garrison Street Lakewood CO 80226 $115,967.62
600117075 Mohring,Michael S 6372 Jockey Road Newfane NY 14028 $84,282.27
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117055 Aguglia,Theodore E 8.500 .250 8.250 .0500 8.200 10/01/2012
600117058 Driggers,William H 7.250 .250 7.000 .0500 6.950 10/01/2012
600117059 Bunting,Thomas L. 8.250 .250 8.000 .0500 7.950 10/01/2012
600117060 Spragg,Frank Wesley 7.500 .250 7.250 .0500 7.200 10/01/2012
600117061 Sneirson,Gerald M. 8.250 .250 8.000 .0500 7.950 10/01/2012
600117063 Peaslee,Shane A. 8.250 .250 8.000 .0500 7.950 10/01/2012
600117064 Norwood,J Michael 9.000 .250 8.750 .0500 8.700 10/01/2012
600117067 Carter-hendricks,Treena 8.375 .250 8.125 .0500 8.075 10/01/2012
600117068 Quan,An Cam 7.500 .250 7.250 .0500 7.200 10/01/2012
600117070 Markovich,Michael J 7.875 .250 7.625 .0500 7.575 10/01/2012
600117071 Naylor,Julia Lee 7.500 .250 7.250 .0500 7.200 10/01/2012
600117073 Miller,Yvonne B. 8.250 .250 8.000 .0500 7.950 10/01/2012
600117074 Mitchell,Kenneth S 7.875 .250 7.625 .0500 7.575 10/01/2012
600117075 Mohring,Michael S 8.375 .250 8.125 .0500 8.075 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>
600117055 Aguglia,Theodore E 261256 $452.98 01/01/1998 180
600117058 Driggers,William H 279239 $1,262.95 01/01/1998 180
600117059 Bunting,Thomas L. 279436 $485.08 01/01/1998 180
600117060 Spragg,Frank Wesley 280024 $801.41 01/01/1998 180
600117061 Sneirson,Gerald M. 277771 $785.82 01/01/1998 180
600117063 Peaslee,Shane A. 263752 $536.00 01/01/1998 180
600117064 Norwood,J Michael 269279 $745.49 01/01/1998 180
600117067 Carter-hendricks,Treena 262701 $1,075.17 01/01/1998 180
600117068 Quan,An Cam 270050 $1,186.58 01/01/1998 180
600117070 Markovich,Michael J 270444 $550.10 01/01/1998 180
600117071 Naylor,Julia Lee 281531 $556.21 01/01/1998 180
600117073 Miller,Yvonne B. 270246 $869.25 01/01/1998 180
600117074 Mitchell,Kenneth S 284218 $1,109.69 01/01/1998 180
600117075 Mohring,Michael S 260914 $830.81 01/01/1998 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>
600117055 Aguglia,Theodore E $76,000.00 N
600117058 Driggers,William H $190,000.00 N
600117059 Bunting,Thomas L. $84,000.00 N
600117060 Spragg,Frank Wesley $133,000.00 N
600117061 Sneirson,Gerald M. $108,000.00 N
600117063 Peaslee,Shane A. $85,000.00 N
600117064 Norwood,J Michael $98,000.00 N
600117067 Carter-hendricks,Treena $226,000.00 N
600117068 Quan,An Cam $160,000.00 N
600117070 Markovich,Michael J $72,500.00 N
600117071 Naylor,Julia Lee $182,000.00 N
600117073 Miller,Yvonne B. $132,000.00 N
600117074 Mitchell,Kenneth S $180,000.00 N
600117075 Mohring,Michael S $150,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 33
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117081 Nguyen,Thu Hang Thi 3113 Keywest Drive Garland TX 75044 $65,039.91
600117082 Marouf,Tariq 21900 Sloman Oak Park MI 48327 $34,224.43
600117083 Schappell,Ross E 2341 Colt Lane Crowley TX 76036 $152,641.17
600117084 Hale,W. Curtis 460 Voiles Street, # J Brighton CO 80601 $61,712.63
600117087 Lamonica,Happy K. 1227 Akamai Street Honolulu HI 96734 $135,308.68
600117088 Barth,Maricel 885 Lake Drive Miami FL 33166 $79,301.80
600117089 Bazari, Jr.,John 39 Cushman Street Pittsburgh PA 15211 $69,539.38
600117093 Jacobson,Alan A 9710 Garden Lane Rogers MN 55374 $39,632.91
600117094 Quiles, Jr,Miguel A 497 Johnny Appleseed Lane Leominster MA 01453 $72,397.09
600117095 Cooper,Gary E. 107 Stone Mountain Conroe TX 77302 $107,871.09
600117096 Yang,Stephen C 1402 Oak Avenue Los Altos CA 94024 $168,499.97
600117098 Jackson,Marsha B 2611 Eisenhauer Road #101 San Antonio TX 78209 $57,229.15
600117100 Wittlich,Martin W 201 Scenic Drive Heath TX 75087 $80,948.18
600117101 Handfield,Robert 14 Adams Street Warwick RI 02888 $111,550.07
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117081 Nguyen,Thu Hang Thi 8.250 .250 8.000 .0500 7.950 10/01/2012
600117082 Marouf,Tariq 9.000 .250 8.750 .0500 8.700 10/01/2012
600117083 Schappell,Ross E 7.875 .250 7.625 .0500 7.575 10/01/2012
600117084 Hale,W. Curtis 8.125 .250 7.875 .0500 7.825 10/01/2012
600117087 Lamonica,Happy K. 8.000 .250 7.750 .0500 7.700 10/01/2012
600117088 Barth,Maricel 8.000 .250 7.750 .0500 7.700 10/01/2012
600117089 Bazari, Jr.,John 8.500 .250 8.250 .0500 8.200 10/01/2012
600117093 Jacobson,Alan A 8.000 .250 7.750 .0500 7.700 10/01/2012
600117094 Quiles, Jr,Miguel A 8.625 .250 8.375 .0500 8.325 10/01/2012
600117095 Cooper,Gary E. 8.250 .250 8.000 .0500 7.950 10/01/2012
600117096 Yang,Stephen C 7.875 .250 7.625 .0500 7.575 10/01/2012
600117098 Jackson,Marsha B 7.625 .250 7.375 .0500 7.325 10/01/2012
600117100 Wittlich,Martin W 9.000 .250 8.750 .0500 8.700 10/01/2012
600117101 Handfield,Robert 8.375 .250 8.125 .0500 8.075 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>
600117081 Nguyen,Thu Hang Thi 280029 $636.42 01/01/1998 180
600117082 Marouf,Tariq 282993 $349.92 01/01/1998 180
600117083 Schappell,Ross E 284069 $1,460.61 01/01/1998 180
600117084 Hale,W. Curtis 265703 $599.40 01/01/1998 180
600117087 Lamonica,Happy K. 279431 $1,304.47 01/01/1998 180
600117088 Barth,Maricel 283536 $764.52 01/01/1998 180
600117089 Bazari, Jr.,John 277721 $690.55 01/01/1998 180
600117093 Jacobson,Alan A 279241 $382.27 01/01/1998 180
600117094 Quiles, Jr,Miguel A 260523 $724.22 01/01/1998 180
600117095 Cooper,Gary E. 281200 $1,055.52 01/01/1998 180
600117096 Yang,Stephen C 281574 $1,612.37 01/01/1998 180
600117098 Jackson,Marsha B 279243 $539.47 01/01/1998 180
600117100 Wittlich,Martin W 269592 $827.65 01/01/1998 180
600117101 Handfield,Robert 269695 $1,099.60 01/01/1998 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>
600117081 Nguyen,Thu Hang Thi $82,000.00 N
600117082 Marouf,Tariq $46,000.00 N
600117083 Schappell,Ross E $210,000.00 N
600117084 Hale,W. Curtis $83,000.00 N
600117087 Lamonica,Happy K. $210,000.00 N
600117088 Barth,Maricel $175,000.00 N
600117089 Bazari, Jr.,John $93,500.00 N
600117093 Jacobson,Alan A $154,000.00 N
600117094 Quiles, Jr,Miguel A $138,000.00 N
600117095 Cooper,Gary E. $136,000.00 N
600117096 Yang,Stephen C $880,000.00 N
600117098 Jackson,Marsha B $77,000.00 N
600117100 Wittlich,Martin W $102,000.00 N
600117101 Handfield,Robert $157,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 34
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117102 Young,Chienteh 18 Nokomis Avenue Lake Hiawatha NJ 07034 $111,570.86
600117105 Salem,Ghazwan Naim 22211 Jerome Oak Park Oak Park MI 48237 $41,641.41
600117108 Richardson,Steven Scott 525 SW 6th Avenue Fort Lauderdale FL 33315 $51,984.93
600117109 Salem,Ghazwan Naim 10661 Saratoga Oak Park MI 48237 $41,641.41
600117110 Smith,James Michael 9104 S 22nd Terrace Fort Smith AR 72908 $36,492.79
600117114 Bala,Dorothy E. 2289 Cedar Mill Drive Conyers GA 30094 $76,092.60
600117120 Maroof,Thaer 10761 Saratoga Waterford MI 48327 $31,248.38
600117121 Blackwell,Lewis W 309 Boos Lane Fredericksburg TX 78624 $105,678.26
600117122 Koenig,Sara Gordon 16338 North Greenfield D Spring TX 77379 $85,603.67
600117123 Perzinski,Michael J 7318 Rear Bay Front Road Baltimore MD 21219 $87,141.22
600117124 Taormino,Mary M. 3027 Boulder Place Davis CA 95616 $105,580.67
600117125 Cristian,Mark 185-187 Colfax Street Providence RI 02905 $63,483.05
600117128 Harrold,Paul C. 302 Mchenry Avenue Park City UT 84060 $143,078.57
600117129 Silveira,Jose Nunes 2136 South Giddings Stree Visalia CA 93277 $71,887.80
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117102 Young,Chienteh 8.625 .250 8.375 .0500 8.325 10/01/2012
600117105 Salem,Ghazwan Naim 8.250 .250 8.000 .0500 7.950 10/01/2012
600117108 Richardson,Steven Scott 7.750 .250 7.500 .0500 7.450 10/01/2012
600117109 Salem,Ghazwan Naim 8.250 .250 8.000 .0500 7.950 10/01/2012
600117110 Smith,James Michael 8.500 .250 8.250 .0500 8.200 10/01/2012
600117114 Bala,Dorothy E. 7.875 .250 7.625 .0500 7.575 10/01/2012
600117120 Maroof,Thaer 9.000 .250 8.750 .0500 8.700 10/01/2012
600117121 Blackwell,Lewis W 7.625 .250 7.375 .0500 7.325 10/01/2012
600117122 Koenig,Sara Gordon 7.375 .250 7.125 .0500 7.075 10/01/2012
600117123 Perzinski,Michael J 8.125 .250 7.875 .0500 7.825 10/01/2012
600117124 Taormino,Mary M. 8.125 .250 7.875 .0500 7.825 10/01/2012
600117125 Cristian,Mark 8.875 .250 8.625 .0500 8.575 10/01/2012
600117128 Harrold,Paul C. 8.125 .250 7.875 .0500 7.825 10/01/2012
600117129 Silveira,Jose Nunes 8.375 .250 8.125 .0500 8.075 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>
600117102 Young,Chienteh 270833 $1,116.09 01/01/1998 180
600117105 Salem,Ghazwan Naim 279172 $407.46 01/01/1998 180
600117108 Richardson,Steven Scott 279186 $494.17 01/01/1998 180
600117109 Salem,Ghazwan Naim 281188 $407.46 01/01/1998 180
600117110 Smith,James Michael 287252 $362.38 01/01/1998 180
600117114 Bala,Dorothy E. 268152 $730.31 01/01/1998 180
600117120 Maroof,Thaer 277302 $319.50 01/01/1998 180
600117121 Blackwell,Lewis W 279147 $996.16 01/01/1998 180
600117122 Koenig,Sara Gordon 279439 $794.82 01/01/1998 180
600117123 Perzinski,Michael J 279780 $846.38 01/01/1998 180
600117124 Taormino,Mary M. 281815 $1,025.47 01/01/1998 180
600117125 Cristian,Mark 269365 $644.38 01/01/1998 180
600117128 Harrold,Paul C. 271569 $1,396.18 01/01/1998 180
600117129 Silveira,Jose Nunes 272575 $708.64 01/01/1998 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>
600117102 Young,Chienteh $150,000.00 N
600117105 Salem,Ghazwan Naim $56,000.00 N
600117108 Richardson,Steven Scott $70,000.00 N
600117109 Salem,Ghazwan Naim $56,000.00 N
600117110 Smith,James Michael $46,000.00 N
600117114 Bala,Dorothy E. $104,500.00 N
600117120 Maroof,Thaer $46,000.00 N
600117121 Blackwell,Lewis W $185,000.00 N
600117122 Koenig,Sara Gordon $108,000.00 N
600117123 Perzinski,Michael J $152,000.00 N
600117124 Taormino,Mary M. $142,000.00 N
600117125 Cristian,Mark $80,000.00 N
600117128 Harrold,Paul C. $270,000.00 N
600117129 Silveira,Jose Nunes $107,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 35
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117131 Le,Phuong Hoang 8933 Boulder Glen Way Sacramento CA 95829 $104,073.49
600117133 Ahmed,Rais 2639 Babcock Road Vienna VA 22181 $193,279.38
600117135 Mcguinness,Leo E. 41 Brighton Akron OH 44301 $22,195.78
600117136 Montes,Aristeo 5204 South Knox Avenue Chicago IL 60632 $72,355.86
600117137 Patel,Ashish 27 Firehouse Road Woodbourne NY 12788 $31,234.01
600117139 Bowen,Suetta 2604 South Carson Way Aurora CO 80014 $70,889.56
600117143 Vardaro,Pellegrino 69 Lawton Avenue Cliffside Park NJ 07010 $113,951.51
600117144 Deguzman,Calixto 901 South Lansing Aurora CO 80012 $85,374.36
600117146 Shreiner,Roger J 911 Harrison St Elkhart IN 46516 $23,008.37
600117147 Rochin,Richard J. 476 Lemona Street Woodlake CA 93286 $64,203.33
600117148 Hopping,Brian L 2239 Kingsbrook Drive Richmond VA 23229 $53,549.04
600117149 Klass,Kathie 9621 Cherry Canyon Avenue Las Vegas NV 89129 $118,903.13
600117150 Combs,Terrence D 1253 51st Avenue N St Petersburg FL 33703 $32,222.51
600117152 Gregg,Barry L 1 El Dorado Circle Middletown DE 19709 $151,292.62
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117131 Le,Phuong Hoang 7.875 .250 7.625 .0500 7.575 10/01/2012
600117133 Ahmed,Rais 7.875 .250 7.625 .0500 7.575 10/01/2012
600117135 Mcguinness,Leo E. 7.500 .250 7.250 .0500 7.200 10/01/2012
600117136 Montes,Aristeo 7.875 .250 7.625 .0500 7.575 10/01/2012
600117137 Patel,Ashish 8.375 .250 8.125 .0500 8.075 10/01/2012
600117139 Bowen,Suetta 8.250 .250 8.000 .0500 7.950 10/01/2012
600117143 Vardaro,Pellegrino 7.500 .250 7.250 .0500 7.200 10/01/2012
600117144 Deguzman,Calixto 7.500 .250 7.250 .0500 7.200 10/01/2012
600117146 Shreiner,Roger J 8.625 .250 8.375 .0500 8.325 10/01/2012
600117147 Rochin,Richard J. 7.500 .250 7.250 .0500 7.200 10/01/2012
600117148 Hopping,Brian L 8.500 .250 8.250 .0500 8.200 10/01/2012
600117149 Klass,Kathie 8.000 .250 7.750 .0500 7.700 10/01/2012
600117150 Combs,Terrence D 8.250 .250 8.000 .0500 7.950 10/01/2012
600117152 Gregg,Barry L 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>
600117131 Le,Phuong Hoang 272911 $995.88 01/01/1998 180
600117133 Ahmed,Rais 273326 $1,849.48 01/01/1998 180
600117135 Mcguinness,Leo E. 280729 $207.65 01/01/1998 180
600117136 Montes,Aristeo 281064 $692.37 01/01/1998 180
600117137 Patel,Ashish 271391 $307.89 01/01/1998 180
600117139 Bowen,Suetta 281511 $693.65 01/01/1998 180
600117143 Vardaro,Pellegrino 270764 $1,066.07 01/01/1998 180
600117144 Deguzman,Calixto 273406 $799.55 01/01/1998 180
600117146 Shreiner,Roger J 277592 $230.17 01/01/1998 180
600117147 Rochin,Richard J. 278857 $600.71 01/01/1998 180
600117148 Hopping,Brian L 279772 $531.76 2 01/01/1998 180
600117149 Klass,Kathie 281059 $1,146.31 01/01/1998 180
600117150 Combs,Terrence D 272720 $315.30 01/01/1998 180
600117152 Gregg,Barry L 278204 $1,427.35 01/01/1998 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>
600117131 Le,Phuong Hoang $140,000.00 N
600117133 Ahmed,Rais $260,000.00 N
600117135 Mcguinness,Leo E. $62,000.00 N
600117136 Montes,Aristeo $120,000.00 N
600117137 Patel,Ashish $46,500.00 N
600117139 Bowen,Suetta $125,000.00 N
600117143 Vardaro,Pellegrino $230,000.00 N
600117144 Deguzman,Calixto $115,000.00 N
600117146 Shreiner,Roger J $29,000.00 N
600117147 Rochin,Richard J. $86,864.00 N
600117148 Hopping,Brian L $60,000.00 N
600117149 Klass,Kathie $161,190.00 N
600117150 Combs,Terrence D $46,000.00 N
600117152 Gregg,Barry L $195,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 36
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117153 Hynek,Melvin J. 1934 S. 14th St Omaha NE 68108 $25,891.94
600117154 Baskin,Emma 55 Trenton Street Providence RI 02906 $115,063.03
600117157 Kashian,Terrance M 1920 East Bantam Road Tucson AZ 85706 $57,339.54
600117158 Fontana,Matthew James 1310 Sleepy Hollow Road Severn MD 21144 $109,018.72
600117159 Takase,Sachiko 11023 Colebrook Drive Houston TX 77072 $43,756.94
600117161 Alberto,Nery N 5435 S W 110 Court Miami FL 33165 $37,372.68
600117162 Han,Seung Boo 1702 Lake Harbor Way Circ Houston TX 77084 $79,797.44
600117165 Cook,Jerry C. 2061 S. Kihei Road, #2 Kihei HI 96753 $54,540.68
600117166 Davis,Lorrie Jean 2120 Barbara Court Pittsburg CA 94565 $85,517.56
600117167 Mueller,Peter H. 10550 Bexley Boulevard Boca Raton FL 33428 $119,288.65
600117168 Buckley,Ronald C. 21040 S. E. Clay Court Gresham OR 97030 $98,220.72
600117170 Garcia,Douglas J 32951 Danacedar Dana Point CA 92629 $136,246.37
600117171 Schultz,George 8905 Kentish Cove Austin TX 78748 $59,945.16
600117172 Murray I I I,Dayton E 1705 Hodgson & 3305 R St. Eureka CA 95501 $85,215.93
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117153 Hynek,Melvin J. 8.500 .250 8.250 .0500 8.200 10/01/2012
600117154 Baskin,Emma 8.875 .250 8.625 .0500 8.575 10/01/2012
600117157 Kashian,Terrance M 7.875 .250 7.625 .0500 7.575 10/01/2012
600117158 Fontana,Matthew James 7.750 .250 7.500 .0500 7.450 10/01/2012
600117159 Takase,Sachiko 8.500 .250 8.250 .0500 8.200 10/01/2012
600117161 Alberto,Nery N 8.000 .250 7.750 .0500 7.700 10/01/2007
600117162 Han,Seung Boo 8.000 .250 7.750 .0500 7.700 10/01/2012
600117165 Cook,Jerry C. 8.500 .250 8.250 .0500 8.200 10/01/2012
600117166 Davis,Lorrie Jean 8.375 .250 8.125 .0500 8.075 11/01/2012
600117167 Mueller,Peter H. 7.750 .250 7.500 .0500 7.450 11/01/2012
600117168 Buckley,Ronald C. 7.875 .250 7.625 .0500 7.575 11/01/2012
600117170 Garcia,Douglas J 7.500 .250 7.250 .0500 7.200 10/01/2012
600117171 Schultz,George 8.500 .250 8.250 .0500 8.200 10/01/2012
600117172 Murray I I I,Dayton E 7.500 .250 7.250 .0500 7.200 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>
600117153 Hynek,Melvin J. 280420 $257.12 01/01/1998 180
600117154 Baskin,Emma 269395 $1,167.94 01/01/1998 180
600117157 Kashian,Terrance M 274624 $548.68 01/01/1998 180
600117158 Fontana,Matthew James 278870 $1,035.41 01/01/1998 180
600117159 Takase,Sachiko 281057 $435.75 01/01/1998 180
600117161 Alberto,Nery N 270707 $461.05 01/01/1998 120
600117162 Han,Seung Boo 281534 $769.30 01/01/1998 180
600117165 Cook,Jerry C. 281074 $541.61 01/01/1998 180
600117166 Davis,Lorrie Jean 271743 $840.59 01/01/1998 180
600117167 Mueller,Peter H. 272840 $1,129.53 01/01/1998 180
600117168 Buckley,Ronald C. 273562 $937.07 01/01/1998 180
600117170 Garcia,Douglas J 262356 $1,274.65 01/01/1998 180
600117171 Schultz,George 281044 $595.28 01/01/1998 180
600117172 Murray I I I,Dayton E 281493 $797.23 01/01/1998 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>
600117153 Hynek,Melvin J. $46,000.00 N
600117154 Baskin,Emma $147,000.00 N
600117157 Kashian,Terrance M $89,000.00 N
600117158 Fontana,Matthew James $305,000.00 N
600117159 Takase,Sachiko $59,000.00 N
600117161 Alberto,Nery N $149,000.00 N
600117162 Han,Seung Boo $115,000.00 N
600117165 Cook,Jerry C. $95,000.00 N
600117166 Davis,Lorrie Jean $127,500.00 N
600117167 Mueller,Peter H. $230,000.00 N
600117168 Buckley,Ronald C. $123,500.00 N
600117170 Garcia,Douglas J $350,000.00 N
600117171 Schultz,George $87,000.00 N
600117172 Murray I I I,Dayton E $119,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 37
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117173 Elkins,Francis R. 5843 Queen Street Arvada CO 80004 $41,629.41
600117174 Hartman,James C. 1728-1732 North Shore Ter Orlando FL 32804 $59,504.45
600117175 Yaung,Pan S. 1539-1541 Lincoln Avenue Saint Paul MN 55116 $142,982.38
600117176 Clark,Samuel 10850 N 65th Hygiene CO 80533 $159,102.44
600117177 Ulrich,Loren D. 2110 Lil Bit Way Pahrump NV 89041 $86,986.96
600117179 Bellmore,Mark A. 929 West Conant Street Portage WI 53901 $149,139.68
600117180 Sparks,Philip R. 4601 Miramar Drive Rowlett TX 75088 $41,175.38
600117181 Shwe,Richard S 331 333 Beemer Avenue Sunnyvale CA 94086 $149,130.15
600117185 Klass,Kathie 2769 Sweet Willow Lane Las Vegas NV 89135 $99,314.25
600117186 Saigh,Najla 3526 East Cochise Drive Phoenix AZ 85028 $104,377.56
600117187 Uebel,Ernst L R R 3 Box 237 Gray Court SC 29645 $110,349.19
600117188 Palmer,Clifton E. 394 Connors Lane Stratford CT 06497 $44,750.36
600117190 Mason,Wayne S 1024 East Bristol Street Elkhart IN 46514 $51,766.13
600117191 Goodis,Douglas H 3635 South Lake Dr Miami FL 33155 $91,436.45
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117173 Elkins,Francis R. 7.875 .250 7.625 .0500 7.575 10/01/2012
600117174 Hartman,James C. 8.625 .250 8.375 .0500 8.325 10/01/2012
600117175 Yaung,Pan S. 8.375 .250 8.125 .0500 8.075 10/01/2012
600117176 Clark,Samuel 8.375 .250 8.125 .0500 8.075 11/01/2012
600117177 Ulrich,Loren D. 7.875 .250 7.625 .0500 7.575 11/01/2012
600117179 Bellmore,Mark A. 8.125 .250 7.875 .0500 7.825 11/01/2012
600117180 Sparks,Philip R. 8.750 .250 8.500 .0500 8.450 11/01/2012
600117181 Shwe,Richard S 8.000 .250 7.750 .0500 7.700 11/01/2012
600117185 Klass,Kathie 7.875 .250 7.625 .0500 7.575 11/01/2012
600117186 Saigh,Najla 7.750 .250 7.500 .0500 7.450 11/01/2012
600117187 Uebel,Ernst L 7.875 .250 7.625 .0500 7.575 11/01/2012
600117188 Palmer,Clifton E. 8.500 .250 8.250 .0500 8.200 11/01/2012
600117190 Mason,Wayne S 8.750 .250 8.500 .0500 8.450 10/01/2012
600117191 Goodis,Douglas H 7.375 .250 7.125 .0500 7.075 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>
600117173 Elkins,Francis R. 281825 $398.35 01/01/1998 180
600117174 Hartman,James C. 281070 $595.25 01/01/1998 180
600117175 Yaung,Pan S. 281054 $1,409.45 01/01/1998 180
600117176 Clark,Samuel 266397 $1,563.89 01/01/1998 180
600117177 Ulrich,Loren D. 267811 $829.90 01/01/1998 180
600117179 Bellmore,Mark A. 281068 $1,444.33 01/01/1998 180
600117180 Sparks,Philip R. 283628 $413.78 12 01/01/1998 180
600117181 Shwe,Richard S 287039 $1,433.48 01/01/1998 180
600117185 Klass,Kathie 281819 $947.51 01/01/1998 180
600117186 Saigh,Najla 283672 $988.34 01/01/1998 180
600117187 Uebel,Ernst L 267032 $1,052.78 01/01/1998 180
600117188 Palmer,Clifton E. 271076 $443.13 01/01/1998 180
600117190 Mason,Wayne S 280617 $521.72 12 01/01/1998 180
600117191 Goodis,Douglas H 281933 $846.33 01/01/1998 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>
600117173 Elkins,Francis R. $165,000.00 N
600117174 Hartman,James C. $106,000.00 N
600117175 Yaung,Pan S. $206,000.00 N
600117176 Clark,Samuel $450,000.00 N
600117177 Ulrich,Loren D. $125,000.00 N
600117179 Bellmore,Mark A. $200,000.00 N
600117180 Sparks,Philip R. $46,000.00 N
600117181 Shwe,Richard S $300,000.00 N
600117185 Klass,Kathie $151,350.00 N
600117186 Saigh,Najla $155,000.00 N
600117187 Uebel,Ernst L $210,000.00 N
600117188 Palmer,Clifton E. $180,000.00 N
600117190 Mason,Wayne S $58,000.00 N
600117191 Goodis,Douglas H $140,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 38
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117192 Williams,Cam 4155 Oakridge Drive Pine Valley UT 84722 $74,560.26
600117197 Kemp,Larry J. 934 Wayne Avenue Pocatello ID 83201 $75,976.15
600117198 Fordyce , Jr.,Allen O. 1607 Davis Street, Unit # Mc Call ID 83638 $119,304.11
600117199 Pearson,Julie A. 927-929 Columbus Street Rapid City SD 57701 $120,818.41
600117201 Figg,Todd R 2109 Bay Hill Drive League City TX 77573 $83,756.03
600117205 Liddiard,Diane 6490 South 3405 East Salt Lake City UT 84121 $147,042.33
600117208 Lee,Brian 24 Olive Street Oak Bluffs MA 02557 $75,881.40
600117211 Tam,Sheung M. 1611 S. E. 89th Avenue Portland OR 97216 $89,472.33
600117212 Saffar,Asso 29720 Aberdeen Southfield MI 48076 $45,744.80
600117213 Cianciotto,John A 66 Breckenridge Drive Greece NY 14626 $111,371.71
600117218 Minor,Nancy S 367 Arlington Drive Charleston SC 29414 $70,100.11
600117222 Eiden,Dale E 3924 G 2 10 Road Palisade CO 81526 $59,640.40
600117224 Yeago,Charles T. 146 Grosvenor Athens OH 45701 $56,683.77
600117226 Mcdowell,Debra L. Route 122 Wheelock VT 05866 $45,258.60
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117192 Williams,Cam 7.875 .250 7.625 .0500 7.575 11/01/2012
600117197 Kemp,Larry J. 8.500 .250 8.250 .0500 8.200 11/01/2012
600117198 Fordyce , Jr.,Allen O. 8.000 .250 7.750 .0500 7.700 11/01/2012
600117199 Pearson,Julie A. 8.375 .250 8.125 .0500 8.075 11/01/2012
600117201 Figg,Todd R 7.875 .250 7.625 .0500 7.575 11/01/2012
600117205 Liddiard,Diane 8.000 .250 7.750 .0500 7.700 11/01/2012
600117208 Lee,Brian 8.625 .250 8.375 .0500 8.325 11/01/2012
600117211 Tam,Sheung M. 7.875 .250 7.625 .0500 7.575 11/01/2012
600117212 Saffar,Asso 8.500 .250 8.250 .0500 8.200 11/01/2012
600117213 Cianciotto,John A 8.375 .250 8.125 .0500 8.075 11/01/2012
600117218 Minor,Nancy S 8.250 .250 8.000 .0500 7.950 11/01/2012
600117222 Eiden,Dale E 7.625 .250 7.375 .0500 7.325 11/01/2012
600117224 Yeago,Charles T. 8.500 .250 8.250 .0500 8.200 11/01/2012
600117226 Mcdowell,Debra L. 9.000 .250 8.750 .0500 8.700 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>
600117192 Williams,Cam 283657 $711.34 01/01/1998 180
600117197 Kemp,Larry J. 281821 $752.34 7 01/01/1998 180
600117198 Fordyce , Jr.,Allen O. 283664 $1,146.79 01/01/1998 180
600117199 Pearson,Julie A. 281053 $1,187.58 2 01/01/1998 180
600117201 Figg,Todd R 272667 $799.07 01/01/1998 180
600117205 Liddiard,Diane 273655 $1,413.41 01/01/1998 180
600117208 Lee,Brian 269693 $756.96 01/01/1998 180
600117211 Tam,Sheung M. 276066 $853.60 01/01/1998 180
600117212 Saffar,Asso 280260 $452.98 01/01/1998 180
600117213 Cianciotto,John A 269283 $1,094.72 01/01/1998 180
600117218 Minor,Nancy S 275723 $683.95 01/01/1998 180
600117222 Eiden,Dale E 287854 $560.48 01/01/1998 180
600117224 Yeago,Charles T. 281827 $561.30 01/01/1998 180
600117226 Mcdowell,Debra L. 270261 $461.50 01/01/1998 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>
600117192 Williams,Cam $135,000.00 N
600117197 Kemp,Larry J. $84,900.00 N
600117198 Fordyce , Jr.,Allen O. $176,000.00 N
600117199 Pearson,Julie A. $135,000.00 N
600117201 Figg,Todd R $211,500.00 N
600117205 Liddiard,Diane $278,348.00 N
600117208 Lee,Brian $109,000.00 N
600117211 Tam,Sheung M. $127,000.00 N
600117212 Saffar,Asso $160,000.00 N
600117213 Cianciotto,John A $153,000.00 N
600117218 Minor,Nancy S $141,000.00 N
600117222 Eiden,Dale E $215,000.00 N
600117224 Yeago,Charles T. $83,000.00 N
600117226 Mcdowell,Debra L. $65,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 39
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117228 Martin,Danny K. 4530 Lookout Road Virginia Beach VA 23455 $65,645.90
600117233 Hairston,Joseph A. 707 Azalea Street Lake Jackson TX 77566 $31,327.18
600117234 Stacey,Terry Lee 580 Rock Springs Road Christiana TN 37037 $76,762.10
600117238 Osborn,Jeffrey J. 135 N Peachtree Street Norcross GA 30071 $84,517.86
600117239 Yeago,Charles T. 115 N. Congress Street Athens OH 45701 $86,318.44
600117245 Brock,James H 2134 E Cherokee Dr Woodstock GA 30188 $104,404.41
600117246 Guida,Frank 1339 Filly Lane Bartlett IL 60103 $84,538.85
600117249 Conti,Ronald J. 300 Shorehaven Drive, #w- North Myrtle Be SC 29582 $59,648.19
600117253 Yeago,Charles T. 59 N. High Street Athens OH 45701 $84,279.82
600117254 Browning,George 15205 South Lacrosse Oak Forest IL 60452 $99,420.09
600117256 Di Santo,Antonio 2522 East 63rd Street Brooklyn NY 11234 $122,310.00
600117259 Matejick,J. Edward 615 Barrington Way Roswell GA 30076 $96,959.10
600117260 Ziolkowski,Joan M. 215 Redbud Road Edgewood MD 21040 $66,636.50
600117263 Gresh, Jr.,Russell L. 1309 North Charlotte Stre Pottstown PA 19464 $78,308.22
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117228 Martin,Danny K. 8.875 .250 8.625 .0500 8.575 11/01/2012
600117233 Hairston,Joseph A. 8.625 .250 8.375 .0500 8.325 11/01/2012
600117234 Stacey,Terry Lee 8.250 .250 8.000 .0500 7.950 11/01/2012
600117238 Osborn,Jeffrey J. 8.250 .250 8.000 .0500 7.950 11/01/2012
600117239 Yeago,Charles T. 8.500 .250 8.250 .0500 8.200 11/01/2012
600117245 Brock,James H 8.250 .250 8.000 .0500 7.950 11/01/2012
600117246 Guida,Frank 8.750 .250 8.500 .0500 8.450 11/01/2012
600117249 Conti,Ronald J. 7.875 .250 7.625 .0500 7.575 11/01/2012
600117253 Yeago,Charles T. 8.500 .250 8.250 .0500 8.200 11/01/2012
600117254 Browning,George 8.000 .250 7.750 .0500 7.700 11/01/2012
600117256 Di Santo,Antonio 8.375 .250 8.125 .0500 8.075 11/01/2012
600117259 Matejick,J. Edward 8.500 .250 8.250 .0500 8.200 11/01/2012
600117260 Ziolkowski,Joan M. 8.750 .250 8.500 .0500 8.450 11/01/2012
600117263 Gresh, Jr.,Russell L. 8.375 .250 8.125 .0500 8.075 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>
600117228 Martin,Danny K. 274370 $664.52 01/01/1998 180
600117233 Hairston,Joseph A. 284589 $312.51 1 01/01/1998 180
600117234 Stacey,Terry Lee 273074 $748.95 01/01/1998 180
600117238 Osborn,Jeffrey J. 282883 $824.62 01/01/1998 180
600117239 Yeago,Charles T. 283571 $854.76 01/01/1998 180
600117245 Brock,James H 283428 $1,018.65 01/01/1998 180
600117246 Guida,Frank 251519 $849.53 01/01/1998 180
600117249 Conti,Ronald J. 283088 $569.08 01/01/1998 180
600117253 Yeago,Charles T. 283579 $834.57 01/01/1998 180
600117254 Browning,George 283644 $955.66 01/01/1998 180
600117256 Di Santo,Antonio 269536 $1,202.24 01/01/1998 180
600117259 Matejick,J. Edward 283385 $960.12 01/01/1998 180
600117260 Ziolkowski,Joan M. 284179 $669.63 01/01/1998 180
600117263 Gresh, Jr.,Russell L. 283574 $769.73 01/01/1998 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>
600117228 Martin,Danny K. $120,000.00 N
600117233 Hairston,Joseph A. $35,000.00 N
600117234 Stacey,Terry Lee $96,500.00 N
600117238 Osborn,Jeffrey J. $206,000.00 N
600117239 Yeago,Charles T. $118,000.00 N
600117245 Brock,James H $195,000.00 N
600117246 Guida,Frank $144,624.00 N
600117249 Conti,Ronald J. $95,900.00 N
600117253 Yeago,Charles T. $113,000.00 N
600117254 Browning,George $143,000.00 N
600117256 Di Santo,Antonio $205,000.00 N
600117259 Matejick,J. Edward $130,000.00 N
600117260 Ziolkowski,Joan M. $90,000.00 N
600117263 Gresh, Jr.,Russell L. $105,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 40
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117264 Roper,Richard W 2946 Peachtree #2 Stockton CA 95203 $12,427.50
600117266 Jarrett,William J. 3 Hobson Street Methuen MA 01887 $67,862.87
600117268 Carter,Joseph Wayne 531 East Marquette Drive Midvale UT 84047 $75,186.58
600117270 Ingmire,Franklin 1004 Alvarado S. E. Albuquerque NM 87108 $108,153.36
600117271 Chard,Richard L 3880 Larue-Greencamp Road Marion OH 43302 $31,820.48
600117272 Ayoub,Charles 2042 East 38th Street Brooklyn NY 11234 $123,071.07
600117273 Verendia,Virgilio G 24 Varady Drive Fords NJ 08863 $133,196.89
600117275 Wade,Terry 601 Cerrillos Dr. Farmington NM 87401 $119,272.89
600117276 Fontana,Maria 43232 Hyde Park Sterling Height MI 48313 $96,437.49
600117277 Allen,Timothy James 3547 East Dragoon Avenue Mesa AZ 85204 $70,579.11
600117280 Riddle,Danny R 7050 Sherrills Ford Road Salisbury NC 28147 $49,063.81
600117282 Gaynor,Steven 1865 N W 107 Avenue Plantation FL 33322 $119,319.33
600117283 Roden,William J. 129 Forest Ridge Road Maylene AL 35114 $78,835.06
600117285 Brangiforte,Stephen 7 Wilkens Way Marlborough MA 01752 $196,316.33
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117264 Roper,Richard W 8.000 .250 7.750 .0500 7.700 11/01/2012
600117266 Jarrett,William J. 8.250 .250 8.000 .0500 7.950 11/01/2012
600117268 Carter,Joseph Wayne 7.375 .250 7.125 .0500 7.075 11/01/2012
600117270 Ingmire,Franklin 8.625 .250 8.375 .0500 8.325 11/01/2012
600117271 Chard,Richard L 8.375 .250 8.125 .0500 8.075 11/01/2012
600117272 Ayoub,Charles 8.625 .250 8.375 .0500 8.325 11/01/2012
600117273 Verendia,Virgilio G 7.625 .250 7.375 .0500 7.325 11/01/2012
600117275 Wade,Terry 7.500 .250 7.250 .0500 7.200 11/01/2012
600117276 Fontana,Maria 8.000 .250 7.750 .0500 7.700 11/01/2012
600117277 Allen,Timothy James 7.750 .250 7.500 .0500 7.450 11/01/2012
600117280 Riddle,Danny R 8.000 .250 7.750 .0500 7.700 11/01/2012
600117282 Gaynor,Steven 8.250 .250 8.000 .0500 7.950 11/01/2012
600117283 Roden,William J. 7.875 .250 7.625 .0500 7.575 11/01/2012
600117285 Brangiforte,Stephen 7.625 .250 7.375 .0500 7.325 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>
600117264 Roper,Richard W 278136 $119.46 01/01/1998 180
600117266 Jarrett,William J. 274685 $662.12 01/01/1998 180
600117268 Carter,Joseph Wayne 283636 $695.93 01/01/1998 180
600117270 Ingmire,Franklin 283567 $1,078.89 01/01/1998 180
600117271 Chard,Richard L 283437 $312.78 01/01/1998 180
600117272 Ayoub,Charles 259973 $1,227.70 01/01/1998 180
600117273 Verendia,Virgilio G 273542 $1,251.74 01/01/1998 180
600117275 Wade,Terry 284597 $1,112.42 01/01/1998 180
600117276 Fontana,Maria 286264 $926.99 01/01/1998 180
600117277 Allen,Timothy James 287102 $668.31 01/01/1998 180
600117280 Riddle,Danny R 274247 $471.62 01/01/1998 180
600117282 Gaynor,Steven 288693 $1,164.17 01/01/1998 180
600117283 Roden,William J. 289056 $752.12 01/01/1998 180
600117285 Brangiforte,Stephen 286272 $1,844.91 01/01/1998 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>
600117264 Roper,Richard W $19,500.00 N
600117266 Jarrett,William J. $91,000.00 N
600117268 Carter,Joseph Wayne $115,000.00 N
600117270 Ingmire,Franklin $145,000.00 N
600117271 Chard,Richard L $94,000.00 N
600117272 Ayoub,Charles $165,000.00 N
600117273 Verendia,Virgilio G $173,000.00 N
600117275 Wade,Terry $257,000.00 N
600117276 Fontana,Maria $139,500.00 N
600117277 Allen,Timothy James $100,000.00 N
600117280 Riddle,Danny R $70,500.00 N
600117282 Gaynor,Steven $220,000.00 N
600117283 Roden,William J. $110,000.00 N
600117285 Brangiforte,Stephen $255,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 41
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117290 Konstantin,Christina T. 1502 Greenbriar Avenue Pasadena TX 77502 $40,076.43
600117295 Martyanik,John F 513 West Wendell Street Endicott NY 13760 $29,430.24
600117300 Klawon,Charles 2775 George Street Eden NY 14057 $84,872.42
600117301 Kinney,Larry J. 5155 W. Tropicana Avenue Las Vegas NV 89117 $59,655.88
600117302 Thomas,Clifton C. 119-12 195th Street Jamaica NY 11412 $115,568.39
600117310 Nunez,Rosella 3526 Four Mile Wash Taylor AZ 85939 $19,881.44
600117312 Lozano,Antonio 1095 S. W. 135th Court Miami FL 33184 $91,738.21
600117313 Gillette,Kathryn J. 6715 Homestead Drive Indianapolis IN 46227 $59,663.41
600117314 Lau,Michelle Mei-sheung 1826 X Street Sacramento CA 95818 $48,715.85
600117316 Wright,Edwin R. 50 Fifth Street Salem NJ 08079 $36,584.94
600117317 Chandler,Carol S. 3853 Pleasant Chapel Road Newark OH 43055 $38,445.70
600117323 Lepage,Stephen C. 1713 Wainwright Drive Reston VA 22090 $71,478.42
600117324 Blossom,Jeffrey 980 Franciscan Ave Sebastian FL 32958 $73,096.76
600117325 Van,Delbert 469 E. Goshen Street Salt Lake City UT 84104 $55,937.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117290 Konstantin,Christina T. 8.500 .250 8.250 .0500 8.200 11/01/2012
600117295 Martyanik,John F 8.125 .250 7.875 .0500 7.825 11/01/2012
600117300 Klawon,Charles 9.125 .250 8.875 .0500 8.825 11/01/2012
600117301 Kinney,Larry J. 8.125 .250 7.875 .0500 7.825 11/01/2012
600117302 Thomas,Clifton C. 7.875 .250 7.625 .0500 7.575 11/01/2012
600117310 Nunez,Rosella 7.750 .250 7.500 .0500 7.450 11/01/2012
600117312 Lozano,Antonio 8.500 .250 8.250 .0500 8.200 11/01/2012
600117313 Gillette,Kathryn J. 8.375 .250 8.125 .0500 8.075 11/01/2012
600117314 Lau,Michelle Mei-sheung 8.000 .250 7.750 .0500 7.700 11/01/2012
600117316 Wright,Edwin R. 9.500 .250 9.250 .0500 9.200 11/01/2011
600117317 Chandler,Carol S. 9.000 .250 8.750 .0500 8.700 11/01/2011
600117323 Lepage,Stephen C. 7.875 .250 7.625 .0500 7.575 11/01/2012
600117324 Blossom,Jeffrey 8.625 .250 8.375 .0500 8.325 11/01/2012
600117325 Van,Delbert 8.500 .250 8.250 .0500 8.200 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>
600117290 Konstantin,Christina T. 277582 $396.85 01/01/1998 180
600117295 Martyanik,John F 273409 $285.01 01/01/1998 180
600117300 Klawon,Charles 262763 $871.73 01/01/1998 180
600117301 Kinney,Larry J. 287329 $577.73 01/01/1998 180
600117302 Thomas,Clifton C. 262758 $1,102.58 01/01/1998 180
600117310 Nunez,Rosella 270292 $188.26 01/01/1998 180
600117312 Lozano,Antonio 286271 $908.43 01/01/1998 180
600117313 Gillette,Kathryn J. 287292 $586.46 01/01/1998 180
600117314 Lau,Michelle Mei-sheung 287327 $468.27 01/01/1998 180
600117316 Wright,Edwin R. 197214 $396.81 01/01/1998 180
600117317 Chandler,Carol S. 197466 $405.71 01/01/1998 180
600117323 Lepage,Stephen C. 283436 $681.94 01/01/1998 180
600117324 Blossom,Jeffrey 286689 $729.18 01/01/1998 180
600117325 Van,Delbert 286892 $553.92 01/01/1998 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>
600117290 Konstantin,Christina T. $53,750.00 N
600117295 Martyanik,John F $37,112.00 N
600117300 Klawon,Charles $108,000.00 N
600117301 Kinney,Larry J. $98,500.00 N
600117302 Thomas,Clifton C. $155,000.00 N
600117310 Nunez,Rosella $53,400.00 N
600117312 Lozano,Antonio $123,000.00 N
600117313 Gillette,Kathryn J. $75,000.00 N
600117314 Lau,Michelle Mei-sheung $70,000.00 N
600117316 Wright,Edwin R. $55,000.00 N
600117317 Chandler,Carol S. $82,000.00 N
600117323 Lepage,Stephen C. $122,000.00 N
600117324 Blossom,Jeffrey $98,000.00 N
600117325 Van,Delbert $75,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 42
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117326 Dinh,Xuan Thanh 8501 Limerick Avenue Canoga Park CA 91306 $139,133.03
600117327 Little,Dirk A. 808 Palomas Drive NE Albuquerque NM 87108 $65,132.56
600117328 Jacobson, I I I,Rolf P. Rural Route #1 Richville MN 56576 $79,515.27
600117329 Nguyen,Danny 3702 Bridlewood Circle Stockton CA 95219 $88,969.43
600117330 Togstad,Matthew C. 325 East Gilman Avenue Arlington WA 98223 $140,317.22
600117336 Akins,Olga C. 4617 John Bell Drive Tampa FL 33610 $42,470.92
600117337 Delkoski,John R 3841 Abbott Avenue South Minneapolis MN 55410 $120,290.56
600117338 Boice,Allen H 94306 Sixth Street Gold Beach OR 97444 $67,574.30
600117339 Westaby,Martha R 518 Germania Street Eau Claire WI 54703 $50,322.38
600117343 Kaiser,Richard E. 2404-2406a West Orchard S Milwaukee WI 53204 $50,717.06
600117345 Bartz,Richard O. 6566 France Avenue So, #3 Edina MN 55435 $107,345.60
600117346 Tucillo,Roy 624 Stewart Avenue Bethpage NY 11714 $90,881.56
600117348 White,Gary E. 33 Profile Avenue Concord NH 03301 $95,437.14
600117349 Wernick,Donald E 3681 Grand Lake Crescent Virginia Beach VA 23462 $35,343.84
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117326 Dinh,Xuan Thanh 7.250 .250 7.000 .0500 6.950 11/01/2012
600117327 Little,Dirk A. 8.375 .250 8.125 .0500 8.075 11/01/2012
600117328 Jacobson, I I I,Rolf P. 7.500 .250 7.250 .0500 7.200 11/01/2012
600117329 Nguyen,Danny 7.750 .250 7.500 .0500 7.450 11/01/2012
600117330 Togstad,Matthew C. 8.500 .250 8.250 .0500 8.200 11/01/2012
600117336 Akins,Olga C. 8.875 .250 8.625 .0500 8.575 11/01/2012
600117337 Delkoski,John R 7.875 .250 7.625 .0500 7.575 11/01/2012
600117338 Boice,Allen H 7.125 .250 6.875 .0500 6.825 11/01/2012
600117339 Westaby,Martha R 8.625 .250 8.375 .0500 8.325 11/01/2012
600117343 Kaiser,Richard E. 8.500 .250 8.250 .0500 8.200 11/01/2012
600117345 Bartz,Richard O. 7.500 .250 7.250 .0500 7.200 11/01/2012
600117346 Tucillo,Roy 8.250 .250 8.000 .0500 7.950 11/01/2012
600117348 White,Gary E. 7.875 .250 7.625 .0500 7.575 11/01/2012
600117349 Wernick,Donald E 8.000 .250 7.750 .0500 7.700 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>
600117326 Dinh,Xuan Thanh 286910 $1,278.01 01/01/1998 180
600117327 Little,Dirk A. 287306 $640.22 01/01/1998 180
600117328 Jacobson, I I I,Rolf P. 287317 $741.61 01/01/1998 180
600117329 Nguyen,Danny 287332 $842.45 01/01/1998 180
600117330 Togstad,Matthew C. 287334 $1,389.47 1 01/01/1998 180
600117336 Akins,Olga C. 286765 $429.92 01/01/1998 180
600117337 Delkoski,John R 287324 $1,147.62 01/01/1998 180
600117338 Boice,Allen H 287922 $615.97 01/01/1998 180
600117339 Westaby,Martha R 278526 $502.00 01/01/1998 180
600117343 Kaiser,Richard E. 287341 $502.22 01/01/1998 180
600117345 Bartz,Richard O. 287311 $1,001.18 01/01/1998 180
600117346 Tucillo,Roy 278413 $886.71 01/01/1998 180
600117348 White,Gary E. 266869 $910.51 01/01/1998 180
600117349 Wernick,Donald E 280220 $339.74 01/01/1998 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>
600117326 Dinh,Xuan Thanh $177,000.00 N
600117327 Little,Dirk A. $88,000.00 N
600117328 Jacobson, I I I,Rolf P. $125,000.00 N
600117329 Nguyen,Danny $159,750.00 N
600117330 Togstad,Matthew C. $156,800.00 N
600117336 Akins,Olga C. $61,000.00 N
600117337 Delkoski,John R $165,000.00 N
600117338 Boice,Allen H $120,000.00 N
600117339 Westaby,Martha R $78,000.00 N
600117343 Kaiser,Richard E. $70,000.00 N
600117345 Bartz,Richard O. $147,500.00 N
600117346 Tucillo,Roy $125,000.00 N
600117348 White,Gary E. $128,000.00 N
600117349 Wernick,Donald E $55,300.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 43
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117350 Davis,Bobbie Jean 4468 North Hazel Avenue Fresno CA 93722 $53,299.30
600117352 Merryman,Jim 500 East Dallas Avenue Mcallen TX 78501 $148,703.40
600117356 Cole,Rob 501, 501 1/2 Orchard Aven Canon City CO 81212 $72,341.89
600117357 Wu,Qiu H 203 Gunby Drive Richmond VA 23229 $95,424.64
600117358 Solomon,Michael A 508 Upland Road Baltimore MD 21208 $139,840.19
600117359 Cervantes,Juan O 1730 N W 36 Avenue Miami FL 33125 $32,902.50
600117365 Smith Jr,Timothy Jay 529 Kast Haines Drive Muncie IN 47303 $38,736.30
600117366 Kaiser,Richard E. 2828-2830 North Cramer St Milwaukee WI 53211 $105,809.71
600117368 Manns,Robert David 821 Christina Cir Oldsmar FL 34677 $79,771.36
600117371 Read,Elizabeth B. 105 Essex Street, Unit 3 Salem MA 01970 $86,765.95
600117372 Keenan,Patrick T. 15 Mt Vernon Street Unit Charlestown MA 02129 $38,189.33
600117376 Smith,Erna C. 1110 Boscobel Street Nashville TN 37206 $65,248.06
600117377 Smith,Erna C 329 Elm Street Madison TN 37115 $52,516.72
600117379 Zhan,Andy 6609 S. E. 50th Avenue Portland OR 97206 $106,890.21
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117350 Davis,Bobbie Jean 8.375 .250 8.125 .0500 8.075 11/01/2012
600117352 Merryman,Jim 7.625 .250 7.375 .0500 7.325 11/01/2012
600117356 Cole,Rob 8.375 .250 8.125 .0500 8.075 11/01/2012
600117357 Wu,Qiu H 7.625 .250 7.375 .0500 7.325 11/01/2012
600117358 Solomon,Michael A 7.875 .250 7.625 .0500 7.575 12/01/2012
600117359 Cervantes,Juan O 7.750 .250 7.500 .0500 7.450 12/01/2012
600117365 Smith Jr,Timothy Jay 8.625 .250 8.375 .0500 8.325 11/01/2012
600117366 Kaiser,Richard E. 8.500 .250 8.250 .0500 8.200 11/01/2012
600117368 Manns,Robert David 8.125 .250 7.875 .0500 7.825 12/01/2012
600117371 Read,Elizabeth B. 8.500 .250 8.250 .0500 8.200 11/01/2012
600117372 Keenan,Patrick T. 8.625 .250 8.375 .0500 8.325 11/01/2012
600117376 Smith,Erna C. 8.875 .250 8.625 .0500 8.575 11/01/2012
600117377 Smith,Erna C 8.875 .250 8.625 .0500 8.575 11/01/2012
600117379 Zhan,Andy 8.000 .250 7.750 .0500 7.700 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600117350 Davis,Bobbie Jean 280952 $523.91 01/01/1998 180
600117352 Merryman,Jim 287319 $1,397.46 01/01/1998 180
600117356 Cole,Rob 287330 $711.08 01/01/1998 180
600117357 Wu,Qiu H 287515 $896.77 01/01/1998 180
600117358 Solomon,Michael A 280663 $1,330.20 01/01/1998 180
600117359 Cervantes,Juan O 281588 $310.63 01/01/1998 180
600117365 Smith Jr,Timothy Jay 286729 $386.42 01/01/1998 180
600117366 Kaiser,Richard E. 287323 $1,047.77 01/01/1998 180
600117368 Manns,Robert David 286740 $770.31 01/01/1998 180
600117371 Read,Elizabeth B. 278287 $859.19 01/01/1998 180
600117372 Keenan,Patrick T. 287322 $380.96 01/01/1998 180
600117376 Smith,Erna C. 289020 $660.49 01/01/1998 180
600117377 Smith,Erna C 289042 $531.62 01/01/1998 180
600117379 Zhan,Andy 280887 $1,024.46 01/01/1998 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>
600117350 Davis,Bobbie Jean $92,000.00 N
600117352 Merryman,Jim $188,000.00 N
600117356 Cole,Rob $97,000.00 N
600117357 Wu,Qiu H $120,000.00 N
600117358 Solomon,Michael A $187,000.00 N
600117359 Cervantes,Juan O $120,000.00 N
600117365 Smith Jr,Timothy Jay $48,700.00 N
600117366 Kaiser,Richard E. $133,000.00 N
600117368 Manns,Robert David $147,000.00 N
600117371 Read,Elizabeth B. $115,000.00 N
600117372 Keenan,Patrick T. $48,000.00 N
600117376 Smith,Erna C. $82,000.00 N
600117377 Smith,Erna C $66,000.00 N
600117379 Zhan,Andy $134,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 44
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600117384 Colbert,Jean D. 5121 Illinois Avenue N W Washington DC 20011 $119,660.83
600117388 Muller,Christopher S 12445 Hwy 99 E. Red Bluff CA 96080 $174,277.85
600117389 Panzarella,Ronald J. 5827 Cove Road North Whitehall PA 18059 $57,241.34
600117393 Jeskie,Stanley 165 Hobart Ave Bayonne NJ 07002 $64,642.21
600117394 Yule,James C 709 Lafayette Ave Colonial Height VA 23834 $49,852.28
600117397 Garrett, Jr.,Joseph Earl 12187 South 2735 West Riverton UT 84065 $169,508.69
600117400 Benemile,Joey 69 Bloomfield Ave Bloomfield NJ 07003 $130,110.18
600117401 Liquori,David M 93 Central Avenue North Babylon NY 11703 $108,698.31
600117407 King,Ralph E 1017 Brooklyn Avenue Hendersonville NC 28792 $55,095.57
600117411 Passey,Rulon L 735 West 3900 South Riverdale UT 84405 $114,172.76
600117423 Vasco,Lucy L. 758 East Crooked Hill Roa Pearl River NY 10965 $114,400.00
600117424 Jean,Sun Oak 7315 Stone Valley Drive Houston TX 77095 $33,633.27
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600117384 Colbert,Jean D. 8.250 .250 8.000 .0500 7.950 12/01/2012
600117388 Muller,Christopher S 7.625 .250 7.375 .0500 7.325 12/01/2012
600117389 Panzarella,Ronald J. 8.500 .250 8.250 .0500 8.200 12/01/2012
600117393 Jeskie,Stanley 7.875 .250 7.625 .0500 7.575 12/01/2007
600117394 Yule,James C 7.750 .250 7.500 .0500 7.450 12/01/2012
600117397 Garrett, Jr.,Joseph Earl 8.000 .250 7.750 .0500 7.700 12/01/2012
600117400 Benemile,Joey 7.625 .250 7.375 .0500 7.325 12/01/2012
600117401 Liquori,David M 8.500 .250 8.250 .0500 8.200 12/01/2012
600117407 King,Ralph E 8.375 .250 8.125 .0500 8.075 12/01/2012
600117411 Passey,Rulon L 8.125 .250 7.875 .0500 7.825 12/01/2012
600117423 Vasco,Lucy L. 7.500 .250 7.250 .0500 7.200 01/01/2013
600117424 Jean,Sun Oak 8.125 .250 7.875 .0500 7.825 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>
600117384 Colbert,Jean D. 279203 $1,164.17 01/01/1998 180
600117388 Muller,Christopher S 278445 $1,632.86 01/01/1998 180
600117389 Panzarella,Ronald J. 283189 $565.24 01/01/1998 180
600117393 Jeskie,Stanley 280879 $784.35 01/01/1998 120
600117394 Yule,James C 288697 $470.64 01/01/1998 180
600117397 Garrett, Jr.,Joseph Earl 282526 $1,624.64 01/01/1998 180
600117400 Benemile,Joey 275302 $1,219.04 7 01/01/1998 180
600117401 Liquori,David M 279461 $1,073.77 01/01/1998 180
600117407 King,Ralph E 290279 $540.03 01/01/1998 180
600117411 Passey,Rulon L 281549 $1,102.50 01/01/1998 180
600117423 Vasco,Lucy L. 286645 $1,060.51 01/01/1998 180
600117424 Jean,Sun Oak 224566 $852.16 01/01/1998 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>
600117384 Colbert,Jean D. $155,000.00 N
600117388 Muller,Christopher S $219,000.00 N
600117389 Panzarella,Ronald J. $89,000.00 N
600117393 Jeskie,Stanley $140,000.00 N
600117394 Yule,James C $67,000.00 N
600117397 Garrett, Jr.,Joseph Earl $229,000.00 N
600117400 Benemile,Joey $145,000.00 N
600117401 Liquori,David M $147,000.00 N
600117407 King,Ralph E $88,000.00 N
600117411 Passey,Rulon L $228,000.00 N
600117423 Vasco,Lucy L. $143,000.00 N
600117424 Jean,Sun Oak $126,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 45
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 16:28:38 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 4 POOL NAME: 1998-1 Group 4
<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
----- ------- ------- --------- --------- -----
<S> <C> <C> <C> <C> <C> <C>
** POOL
** TOTAL 614 0 51,422,810.50 83,197,880.00 52,283,699.00 508,743.94
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 1
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119522 WARNER,GARVIN L. 15 LONGMEADOW ROAD WINDHAM NH 03087 $254,706.03
600119523 MEAGHER,MARTIN J. 18450 DOS PICOS PARK ROAD RAMONA CA 92065 $284,864.48
600119524 MILLER,DENNIS R. 8 LOGAN DRIVE LEBANON NJ 08833 $335,736.19
600119525 HYLAND,KIRSTEN 120 MOUNTWELL AVENUE HADDONFIELD NJ 08033 $265,052.61
600119526 GAUBATZ,DIETER 3024 EMERALD LAKE DRIVE FORT WAYNE IN 46804 $331,507.55
600119527 WISEMAN,JOHN W. 1 MARKS ROAD WESTPORT NY 12993 $272,057.84
600119528 MIHELIC,MARK F. 3380 LAFAYETTE DRIVE BOULDER CO 80303 $231,532.30
600119529 MILLMAN,ROBERT B. 8110 WEST MERCER WAY MERCER ISLAND WA 98040 $492,396.05
600119530 NEGRETTE,RONALD G. 493 WINDERMERE CIRCLE LIVERMORE CA 94550 $228,075.22
600119531 SVENSON,JAMES E. 4870 ENCHANTING VLY R MIDDLETON WI 53562 $388,149.97
600119533 CHURCH,MICHAEL C. 410 LENWOOD DRIVE COSTA MESA CA 92627 $249,827.95
600119535 MORALES,EUGENE P. 18864 MANZANITA DRIVE TWAIN HARTE CA 95383 $229,682.40
600119536 CONDENSA,ROBERT 23506 BLYTHE STREET LOS ANGELES CA 91304 $305,610.34
600119537 CASTELLO,ALAN D. 639 PEACHTREE COURT CAMPBELL CA 95008 $484,130.53
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119522 WARNER,GARVIN L. 7.375 .200 7.175 .0400 7.135 12/01/2027
600119523 MEAGHER,MARTIN J. 7.375 .200 7.175 .0400 7.135 11/01/2027
600119524 MILLER,DENNIS R. 7.250 .200 7.050 .0400 7.010 12/01/2027
600119525 HYLAND,KIRSTEN 6.875 .200 6.675 .0400 6.635 11/01/2027
600119526 GAUBATZ,DIETER 7.375 .200 7.175 .0400 7.135 12/01/2027
600119527 WISEMAN,JOHN W. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119528 MIHELIC,MARK F. 7.625 .200 7.425 .0400 7.385 12/01/2027
600119529 MILLMAN,ROBERT B. 7.000 .200 6.800 .0400 6.760 12/01/2027
600119530 NEGRETTE,RONALD G. 7.875 .200 7.675 .0400 7.635 09/01/2017
600119531 SVENSON,JAMES E. 7.625 .200 7.425 .0400 7.385 10/01/2027
600119533 CHURCH,MICHAEL C. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119535 MORALES,EUGENE P. 7.875 .200 7.675 .0400 7.635 11/01/2027
600119536 CONDENSA,ROBERT 8.250 .200 8.050 .0400 8.010 09/01/2027
600119537 CASTELLO,ALAN D. 7.875 .200 7.675 .0400 7.635 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>
600119522 WARNER,GARVIN L. 5214408 $1,760.54 19 01/01/1998 360
600119523 MEAGHER,MARTIN J. 5432844 $1,970.50 19 01/01/1998 360
600119524 MILLER,DENNIS R. 5433891 $2,292.12 01/01/1998 360
600119525 HYLAND,KIRSTEN 5434055 $1,744.15 19 01/01/1998 360
600119526 GAUBATZ,DIETER 5440060 $2,291.39 01/01/1998 360
600119527 WISEMAN,JOHN W. 5441944 $1,950.44 19 01/01/1998 360
600119528 MIHELIC,MARK F. 5445168 $1,639.96 01/01/1998 360
600119529 MILLMAN,ROBERT B. 5447792 $3,278.61 01/01/1998 360
600119530 NEGRETTE,RONALD G. 5451927 $1,903.27 01/01/1998 240
600119531 SVENSON,JAMES E. 5453998 $2,753.32 19 01/01/1998 360
600119533 CHURCH,MICHAEL C. 5454947 $1,812.68 99 01/01/1998 360
600119535 MORALES,EUGENE P. 5473798 $1,667.66 01/01/1998 360
600119536 CONDENSA,ROBERT 5473822 $2,301.88 01/01/1998 360
600119537 CASTELLO,ALAN D. 5474176 $3,515.14 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119522 WARNER,GARVIN L. $268,365.00 N
600119523 MEAGHER,MARTIN J. $317,000.00 N
600119524 MILLER,DENNIS R. $420,000.00 N
600119525 HYLAND,KIRSTEN $295,000.00 N
600119526 GAUBATZ,DIETER $414,700.00 N
600119527 WISEMAN,JOHN W. $302,500.00 N
600119528 MIHELIC,MARK F. $326,700.00 N
600119529 MILLMAN,ROBERT B. $616,000.00 N
600119530 NEGRETTE,RONALD G. $394,000.00 N
600119531 SVENSON,JAMES E. $432,300.00 N
600119533 CHURCH,MICHAEL C. $298,000.00 N
600119535 MORALES,EUGENE P. $357,000.00 N
600119536 CONDENSA,ROBERT $383,000.00 N
600119537 CASTELLO,ALAN D. $606,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 2
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119538 KAGASOFF,HARVEY DICK 1386 GALAXY DRIVE NEWPORT BEACH CA 92660 $808,455.50
600119539 HETZEL,PETER 156 MOUNTAIN AVENUE SUMMIT NJ 07901 $352,950.71
600119541 WOOSTER,MARK 2412 CAZAUX PLACE LOS ANGELES CA 90065 $427,220.35
600119542 DARRELL,MARK C 14712 FELBRIDGE WAY MIDLOTHIAN VA 23113 $286,970.33
600119543 HENSEL,RONALD GEORGE 24886 GRISSOM ROAD LAGUNA HILLS CA 92653 $226,883.25
600119544 BAUER,RICHARD A. 1507 LINCOLN LANE NEWPORT BEACH CA 92660 $474,209.78
600119546 NOSKOWSKI,EDWARD J. 17421 PASEO CARMELO LOS GATOS CA 95032 $229,555.81
600119547 COKENIAS,THOMAS N 355 EL GRANADA BLVD EL GRANADA CA 94018 $227,103.19
600119548 FENKART MD,DOUGLAS R. 22 5TH STREET MIDLAND PARK NJ 07432 $323,777.02
600119549 NICHOLSON,STEPHEN F 11500 SE PENNS LANE SANDY OR 97055 $508,476.56
600119550 GEORGEVITS,JOHN 41 SUTTON RD NEEDHAM MA 02192 $294,771.32
600119551 LEE,DE-LEI 6532 LEYLAND PARK DRIVE SAN JOSE CA 95120 $428,583.40
600119552 FARRELL,SUSAN E. 69 BOWEN STREET NEWTON MA 02159 $425,033.83
600119553 STULBARG,MICHAEL S. 112 JANES STREET MILL VALLEY CA 94941 $498,731.63
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119538 KAGASOFF,HARVEY DICK 7.500 .200 7.300 .0400 7.260 11/01/2027
600119539 HETZEL,PETER 7.750 .200 7.550 .0400 7.510 12/01/2027
600119541 WOOSTER,MARK 8.125 .700 7.425 .0400 7.385 12/01/2027
600119542 DARRELL,MARK C 7.125 .200 6.925 .0400 6.885 12/01/2027
600119543 HENSEL,RONALD GEORGE 8.000 .200 7.800 .0400 7.760 09/01/2027
600119544 BAUER,RICHARD A. 7.625 .200 7.425 .0400 7.385 09/01/2012
600119546 NOSKOWSKI,EDWARD J. 8.125 .200 7.925 .0400 7.885 11/01/2027
600119547 COKENIAS,THOMAS N 7.125 .200 6.925 .0400 6.885 09/01/2012
600119548 FENKART MD,DOUGLAS R. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119549 NICHOLSON,STEPHEN F 7.625 .200 7.425 .0400 7.385 12/01/2012
600119550 GEORGEVITS,JOHN 7.625 .200 7.425 .0400 7.385 11/01/2027
600119551 LEE,DE-LEI 6.500 .200 6.300 .0400 6.260 12/01/2012
600119552 FARRELL,SUSAN E. 7.250 .200 7.050 .0400 7.010 11/01/2027
600119553 STULBARG,MICHAEL S. 7.625 .200 7.425 .0400 7.385 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>
600119538 KAGASOFF,HARVEY DICK 5474481 $5,663.64 01/01/1998 360
600119539 HETZEL,PETER 5478698 $2,530.37 01/01/1998 360
600119541 WOOSTER,MARK 5487343 $3,174.18 3 01/01/1998 360
600119542 DARRELL,MARK C 5488523 $1,934.92 01/01/1998 360
600119543 HENSEL,RONALD GEORGE 5492178 $1,669.32 01/01/1998 360
600119544 BAUER,RICHARD A. 5496450 $4,483.83 01/01/1998 180
600119546 NOSKOWSKI,EDWARD J. 5502752 $1,707.75 01/01/1998 360
600119547 COKENIAS,THOMAS N 5508189 $2,083.41 01/01/1998 180
600119548 FENKART MD,DOUGLAS R. 5509336 $2,349.23 19 01/01/1998 360
600119549 NICHOLSON,STEPHEN F 5511654 $4,764.07 01/01/1998 180
600119550 GEORGEVITS,JOHN 5511977 $2,089.41 01/01/1998 360
600119551 LEE,DE-LEI 5512538 $3,745.76 01/01/1998 180
600119552 FARRELL,SUSAN E. 5518139 $2,904.02 12 01/01/1998 360
600119553 STULBARG,MICHAEL S. 5518998 $3,538.97 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119538 KAGASOFF,HARVEY DICK $1,300,000.00 N
600119539 HETZEL,PETER $441,500.00 N
600119541 WOOSTER,MARK $475,000.00 N
600119542 DARRELL,MARK C $359,000.00 N
600119543 HENSEL,RONALD GEORGE $290,000.00 N
600119544 BAUER,RICHARD A. $705,000.00 N
600119546 NOSKOWSKI,EDWARD J. $1,015,000.00 N
600119547 COKENIAS,THOMAS N $395,000.00 N
600119548 FENKART MD,DOUGLAS R. $360,000.00 N
600119549 NICHOLSON,STEPHEN F $700,000.00 N
600119550 GEORGEVITS,JOHN $369,000.00 N
600119551 LEE,DE-LEI $580,000.00 N
600119552 FARRELL,SUSAN E. $473,000.00 N
600119553 STULBARG,MICHAEL S. $720,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 3
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119555 HARDENBURG,GARY 13621 FREEPORT ROAD SAN DIEGO CA 92129 $228,244.68
600119557 LEW,ALLEN 1320 SAN RAYMUNDO ROAD HILLSBOROUGH CA 94010 $579,178.62
600119560 RAJAN,SUNDER S. 9942 HIGHLAND DRIVE WARRENTON VA 22186 $291,855.98
600119561 BALLARD,BILLY 265 BLACK WALNUT DR NELLYSFORD VA 22958 $257,144.42
600119563 WHITMAN,KATHLEEN B 6505 SOUTH DEVONSHIRE COU SPOKANE WA 99223 $301,844.58
600119564 STANFORD,JAMES 1041 ABBEY COURT NORTHVILLE MI 48167 $235,806.55
600119565 SIEBENALER,DONALD L 2473 NORTH WAKEF ARLINGTON VA 22207 $229,344.35
600119566 MARSCHKE,KATHERINE L 1684 CREST HILL WAY GILROY CA 95020 $267,810.84
600119567 AUNE,ANNEMARIE 5 VERONA PLACE SOMERS NY 10589 $251,324.22
600119568 BAIR-THURSTON,BARBARA A. 407 VALLEY BROOK DRIVE HOCKESSIN DE 19707 $276,079.04
600119569 RICHTER,STEVEN A 58 LAKE SHORE DRIVE WAYLAND MA 01778 $238,120.11
600119570 MOORE,HARRELL M. 12765 KENEDO CIRCLE ELBERT CO 80106 $237,297.27
600119571 CARTER,DAVID P. 261 DILWORTH LANGHORNE PA 19047 $241,915.78
600119573 FECKO,STEVEN J 57 REMINGTON CIRCLE WEST WINDSOR NJ 08550 $317,687.13
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119555 HARDENBURG,GARY 7.875 .200 7.675 .0400 7.635 10/01/2027
600119557 LEW,ALLEN 7.750 .200 7.550 .0400 7.510 11/01/2027
600119560 RAJAN,SUNDER S. 6.750 .200 6.550 .0400 6.510 12/01/2012
600119561 BALLARD,BILLY 7.875 .200 7.675 .0400 7.635 11/01/2027
600119563 WHITMAN,KATHLEEN B 7.250 .200 7.050 .0400 7.010 12/01/2027
600119564 STANFORD,JAMES 7.000 .200 6.800 .0400 6.760 12/01/2027
600119565 SIEBENALER,DONALD L 7.750 .200 7.550 .0400 7.510 09/01/2027
600119566 MARSCHKE,KATHERINE L 7.750 .200 7.550 .0400 7.510 12/01/2027
600119567 AUNE,ANNEMARIE 7.750 .200 7.550 .0400 7.510 10/01/2027
600119568 BAIR-THURSTON,BARBARA A. 7.125 .200 6.925 .0400 6.885 12/01/2027
600119569 RICHTER,STEVEN A 8.500 .575 7.925 .0400 7.885 11/01/2027
600119570 MOORE,HARRELL M. 7.250 .200 7.050 .0400 7.010 12/01/2027
600119571 CARTER,DAVID P. 7.375 .200 7.175 .0400 7.135 12/01/2027
600119573 FECKO,STEVEN J 7.625 .200 7.425 .0400 7.385 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>
600119555 HARDENBURG,GARY 5524566 $1,658.38 01/01/1998 360
600119557 LEW,ALLEN 5525381 $4,155.20 01/01/1998 360
600119560 RAJAN,SUNDER S. 5530126 $2,591.02 01/01/1998 180
600119561 BALLARD,BILLY 5536180 $1,867.06 01/01/1998 360
600119563 WHITMAN,KATHLEEN B 5542436 $2,060.86 19 01/01/1998 360
600119564 STANFORD,JAMES 5542576 $1,570.12 01/01/1998 360
600119565 SIEBENALER,DONALD L 5551361 $1,647.75 01/01/1998 360
600119566 MARSCHKE,KATHERINE L 5551742 $1,919.99 01/01/1998 360
600119567 AUNE,ANNEMARIE 5554209 $1,804.71 19 01/01/1998 360
600119568 BAIR-THURSTON,BARBARA A. 5557103 $1,861.49 19 01/01/1998 360
600119569 RICHTER,STEVEN A 5558044 $1,833.17 3 01/01/1998 360
600119570 MOORE,HARRELL M. 5572896 $1,620.17 19 01/01/1998 360
600119571 CARTER,DAVID P. 5574298 $1,672.13 19 01/01/1998 360
600119573 FECKO,STEVEN J 5579206 $2,251.85 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119555 HARDENBURG,GARY $285,900.00 N
600119557 LEW,ALLEN $1,680,000.00 N
600119560 RAJAN,SUNDER S. $366,000.00 N
600119561 BALLARD,BILLY $490,000.00 N
600119563 WHITMAN,KATHLEEN B $318,000.00 N
600119564 STANFORD,JAMES $295,000.00 N
600119565 SIEBENALER,DONALD L $350,000.00 N
600119566 MARSCHKE,KATHERINE L $335,000.00 N
600119567 AUNE,ANNEMARIE $279,900.00 N
600119568 BAIR-THURSTON,BARBARA A. $307,000.00 N
600119569 RICHTER,STEVEN A $264,900.00 N
600119570 MOORE,HARRELL M. $250,000.00 N
600119571 CARTER,DAVID P. $269,000.00 N
600119573 FECKO,STEVEN J $353,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 4
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119574 LAUB,ROBERT 21 SHIELD DRIVE WOODCUFF LAKE NJ 07675 $355,539.90
600119575 COMBE,ROGER GRANT 4147 VISA BONITA LANE ESCONDIDO CA 92025 $354,948.22
600119576 BERNARDO,DR. SALVATORE JR 131 PIN OAK ROAD FREEHOLD NJ 07728 $327,330.56
600119578 LABASH,NANCY A. 32 DE LA GUERRA SAN RAFAEL CA 94903 $253,621.82
600119580 MAYS,MICHAEL 7107 CREST ROAD RANCHO PALOS VE CA 90275 $304,756.09
600119581 PERLEY,WILLIAM E. 3 SEAGATE ROAD DARIEN CT 06820 $341,116.24
600119582 PARKS,RANDAL R. 4064 FAIRLANDS DRIVE PLEASANTON CA 94588 $229,122.85
600119584 CRAMM,SUSAN 250 MORNINGSIDE DRIVE CORTE MADERA CA 94925 $298,066.87
600119585 JACKSON,JAY W 1815 BROOKTREE WAY PLEASANTON CA 94566 $264,651.36
600119586 SIMON,BERNICE A. 21 KINGSBURY ROAD NEW ROCHELLE NY 10804 $238,278.73
600119587 DIMURO,MARK 613 ROUTE 9 W PIERMONT NY 10968 $307,595.69
600119588 BEER,JEFFREY 24 REINMAN RD WARREN NJ 07059 $249,654.77
600119589 LINDBLOM,PAUL 31 LANCASTER RD NORTH ANDOVER MA 01845 $298,039.14
600119590 TOSCANO,MICHAEL A. 35 CROSBY ROAD NORTH SALEM NY 10560 $383,142.74
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119574 LAUB,ROBERT 7.875 .200 7.675 .0400 7.635 12/01/2027
600119575 COMBE,ROGER GRANT 7.750 .200 7.550 .0400 7.510 12/01/2012
600119576 BERNARDO,DR. SALVATORE JR 8.250 .200 8.050 .0400 8.010 11/01/2027
600119578 LABASH,NANCY A. 7.500 .200 7.300 .0400 7.260 11/01/2027
600119580 MAYS,MICHAEL 7.125 .200 6.925 .0400 6.885 12/01/2027
600119581 PERLEY,WILLIAM E. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119582 PARKS,RANDAL R. 7.875 .200 7.675 .0400 7.635 10/01/2027
600119584 CRAMM,SUSAN 7.125 .200 6.925 .0400 6.885 12/01/2012
600119585 JACKSON,JAY W 8.125 .200 7.925 .0400 7.885 11/01/2027
600119586 SIMON,BERNICE A. 8.000 .200 7.800 .0400 7.760 11/01/2027
600119587 DIMURO,MARK 8.125 .200 7.925 .0400 7.885 11/01/2027
600119588 BEER,JEFFREY 7.875 .200 7.675 .0400 7.635 11/01/2027
600119589 LINDBLOM,PAUL 6.625 .200 6.425 .0400 6.385 11/01/2012
600119590 TOSCANO,MICHAEL A. 8.000 .200 7.800 .0400 7.760 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>
600119574 LAUB,ROBERT 5584339 $2,581.25 01/01/1998 360
600119575 COMBE,ROGER GRANT 5586821 $3,350.95 01/01/1998 180
600119576 BERNARDO,DR. SALVATORE JR 5588918 $2,462.28 12 01/01/1998 360
600119578 LABASH,NANCY A. 5596978 $1,776.00 01/01/1998 360
600119580 MAYS,MICHAEL 5605365 $2,054.85 01/01/1998 360
600119581 PERLEY,WILLIAM E. 5606256 $2,447.27 01/01/1998 360
600119582 PARKS,RANDAL R. 5606744 $1,664.76 01/01/1998 360
600119584 CRAMM,SUSAN 5608849 $2,708.44 01/01/1998 180
600119585 JACKSON,JAY W 5609664 $1,967.62 01/01/1998 360
600119586 SIMON,BERNICE A. 5610340 $1,750.77 01/01/1998 360
600119587 DIMURO,MARK 5612585 $2,286.89 01/01/1998 360
600119588 BEER,JEFFREY 5613336 $1,812.68 01/01/1998 360
600119589 LINDBLOM,PAUL 5618178 $2,633.99 01/01/1998 180
600119590 TOSCANO,MICHAEL A. 5618327 $2,813.25 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119574 LAUB,ROBERT $445,000.00 N
600119575 COMBE,ROGER GRANT $445,000.00 N
600119576 BERNARDO,DR. SALVATORE JR $345,000.00 N
600119578 LABASH,NANCY A. $317,500.00 N
600119580 MAYS,MICHAEL $559,000.00 N
600119581 PERLEY,WILLIAM E. $427,000.00 N
600119582 PARKS,RANDAL R. $287,000.00 N
600119584 CRAMM,SUSAN $699,000.00 N
600119585 JACKSON,JAY W $332,000.00 N
600119586 SIMON,BERNICE A. $319,000.00 N
600119587 DIMURO,MARK $385,000.00 N
600119588 BEER,JEFFREY $414,000.00 N
600119589 LINDBLOM,PAUL $595,000.00 N
600119590 TOSCANO,MICHAEL A. $426,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 5
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119591 JACKSON,PETER M. 3527 PRIMROSE AVENUE GREENSBORO NC 27408 $276,073.51
600119592 MACDOUGAL,DOUGLAS 2866 SOUTHWEST HILLSBORO PORTLAND OR 97201 $279,403.28
600119595 FULLERTON,ERIC SCOTT 10404 SW MT ADAMS DRIVE BEAVERTON OR 97007 $639,462.32
600119596 HANISSIAN,GREGORY A 355 BLUFFSIDE POINT CORDOVA TN 38018 $454,347.85
600119597 PEROSI M.D.,JOSEPH J. 623 POINT AVENUE BRICK TWP NJ 08724 $299,360.67
600119598 KUDON,DAVID A. 1281 SUNNYFIELD SCOTCH PLAINS NJ 07076 $229,458.46
600119599 BOHN,EDWARD T 9 HANOVER DRIVE WEST CHESTER PA 19382 $264,905.16
600119600 SCATURO,CHARLES J. 11 INDIAN SPRING ROAD CRANFORD NJ 07016 $239,100.02
600119601 SEDER,T D 790 DRAKE LANE RIVER VALE NJ 07675 $311,785.28
600119602 THORNE,TOMMY 13656 S.W.ASCENSION DR TIGARD OR 97223 $274,963.21
600119603 SHIPLEY,STEVE 530 MYSTIC WAY LAGUNA BEACH CA 92651 $399,717.68
600119605 BERGOMI,LUIGI 18 EASTERN DRIVE ARDSLEY NY 10502 $260,211.74
600119607 PRATURI,THIRUMALA S. 9 LOCKSELY LANE ENGLISHTOWN NJ 07726 $263,813.00
600119608 LIGHT,MARK C. 100202 16TH AVENUE NORTHE REDMOND WA 98053 $317,239.74
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119591 JACKSON,PETER M. 7.000 .200 6.800 .0400 6.760 12/01/2027
600119592 MACDOUGAL,DOUGLAS 7.750 .200 7.550 .0400 7.510 10/01/2027
600119595 FULLERTON,ERIC SCOTT 6.875 .200 6.675 .0400 6.635 12/01/2027
600119596 HANISSIAN,GREGORY A 7.500 .200 7.300 .0400 7.260 11/01/2017
600119597 PEROSI M.D.,JOSEPH J. 7.750 .200 7.550 .0400 7.510 10/01/2027
600119598 KUDON,DAVID A. 7.250 .200 7.050 .0400 7.010 10/01/2027
600119599 BOHN,EDWARD T 7.500 .200 7.300 .0400 7.260 10/01/2027
600119600 SCATURO,CHARLES J. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119601 SEDER,T D 7.875 .200 7.675 .0400 7.635 12/01/2027
600119602 THORNE,TOMMY 7.125 .200 6.925 .0400 6.885 11/01/2027
600119603 SHIPLEY,STEVE 7.750 .200 7.550 .0400 7.510 12/01/2027
600119605 BERGOMI,LUIGI 7.500 .200 7.300 .0400 7.260 12/01/2012
600119607 PRATURI,THIRUMALA S. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119608 LIGHT,MARK C. 7.000 .200 6.800 .0400 6.760 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>
600119591 JACKSON,PETER M. 5620976 $1,838.24 19 01/01/1998 360
600119592 MACDOUGAL,DOUGLAS 5622998 $2,005.96 01/01/1998 360
600119595 FULLERTON,ERIC SCOTT 5626916 $4,204.35 01/01/1998 360
600119596 HANISSIAN,GREGORY A 5629779 $3,673.50 01/01/1998 240
600119597 PEROSI M.D.,JOSEPH J. 5638283 $2,149.24 19 01/01/1998 360
600119598 KUDON,DAVID A. 5639117 $1,569.01 01/01/1998 360
600119599 BOHN,EDWARD T 5640206 $1,856.42 19 01/01/1998 360
600119600 SCATURO,CHARLES J. 5644430 $1,715.10 19 01/01/1998 360
600119601 SEDER,T D 5649389 $2,262.22 01/01/1998 360
600119602 THORNE,TOMMY 5653555 $1,855.46 19 01/01/1998 360
600119603 SHIPLEY,STEVE 5655238 $2,865.65 01/01/1998 360
600119605 BERGOMI,LUIGI 5659271 $2,419.51 01/01/1998 180
600119607 PRATURI,THIRUMALA S. 5665690 $1,891.33 01/01/1998 360
600119608 LIGHT,MARK C. 5670039 $2,112.34 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119591 JACKSON,PETER M. $307,000.00 N
600119592 MACDOUGAL,DOUGLAS $485,000.00 N
600119595 FULLERTON,ERIC SCOTT $800,000.00 N
600119596 HANISSIAN,GREGORY A $570,000.00 N
600119597 PEROSI M.D.,JOSEPH J. $318,000.00 N
600119598 KUDON,DAVID A. $375,000.00 N
600119599 BOHN,EDWARD T $295,000.00 N
600119600 SCATURO,CHARLES J. $252,000.00 N
600119601 SEDER,T D $390,000.00 N
600119602 THORNE,TOMMY $289,900.00 N
600119603 SHIPLEY,STEVE $500,000.00 N
600119605 BERGOMI,LUIGI $348,000.00 N
600119607 PRATURI,THIRUMALA S. $330,000.00 N
600119608 LIGHT,MARK C. $467,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 6
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119609 IVERSEN,RUTH B. 2509 NORTH WEST 24TH CIRC CAMAS WA 98607 $302,511.66
600119610 LANEL,ERIC 3 SIDE HILL COURT LIVINGSTON NJ 07039 $302,186.56
600119611 MEDEIROS,SUE A 30 MAPLEWOOD ROAD HARTSDALE NY 10530 $247,171.99
600119613 BAUER,PAUL M 1504 WEST RIVERSIDE CARLSBAD NM 88220 $246,710.63
600119614 PHILLIPS-INGRAM,KIMBERLY 3811 BONNELL DRIVE AUSTIN TX 78731 $358,912.75
600119615 LEHMKUHL,JOHN M. 5460 NOBLE AVENUE SHERMAN OAKS CA 91411 $234,317.69
600119616 BODY,DAVID 1519 WALNUT AVENUE LOS ANGELES CA 90291 $311,806.07
600119617 SAWYER,MICHAEL A 685 SHERIDAN COURT LAKE ZURICH IL 60047 $254,969.91
600119618 CHURCH,JEFFREY D 143 MILL ROAD NORTH HAMPTON NH 03862 $306,029.72
600119619 CARSTENSEN,ANDREW M. 235 HUN ROAD PRINCETON NJ 08540 $347,728.54
600119620 BLACKWOOD,ANDREW J. 16 PINE GROVE DRIVE NORTH SALEM NY 10560 $229,640.06
600119621 KRETSCHMAR,GEORGE 2 DAVID HENRY GARDNER LN SOUTHBORO MA 01772 $276,113.35
600119624 GOYER,VALERIE FLUGGE 8743 WONDERLAND PARK AVEN 4OS ANGELES CA 90046 $608,168.78
600119625 SCHEIRE,RAYMOND J. 342 HERRONTOWN ROAD PRINCETON NJ 08540 $259,922.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119609 IVERSEN,RUTH B. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119610 LANEL,ERIC 7.750 .200 7.550 .0400 7.510 12/01/2027
600119611 MEDEIROS,SUE A 8.125 .200 7.925 .0400 7.885 11/01/2027
600119613 BAUER,PAUL M 6.875 .200 6.675 .0400 6.635 12/01/2012
600119614 PHILLIPS-INGRAM,KIMBERLY 7.500 .200 7.300 .0400 7.260 12/01/2012
600119615 LEHMKUHL,JOHN M. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119616 BODY,DAVID 8.375 .200 8.175 .0400 8.135 12/01/2027
600119617 SAWYER,MICHAEL A 7.750 .200 7.550 .0400 7.510 12/01/2027
600119618 CHURCH,JEFFREY D 6.875 .200 6.675 .0400 6.635 11/01/2012
600119619 CARSTENSEN,ANDREW M. 6.875 .200 6.675 .0400 6.635 11/01/2012
600119620 BLACKWOOD,ANDREW J. 7.250 .200 7.050 .0400 7.010 11/01/2027
600119621 KRETSCHMAR,GEORGE 7.875 .200 7.675 .0400 7.635 12/01/2027
600119624 GOYER,VALERIE FLUGGE 7.125 .200 6.925 .0400 6.885 11/01/2012
600119625 SCHEIRE,RAYMOND J. 7.625 .200 7.425 .0400 7.385 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>
600119609 IVERSEN,RUTH B. 5674072 $2,194.94 01/01/1998 360
600119610 LANEL,ERIC 5675368 $2,166.44 01/01/1998 360
600119611 MEDEIROS,SUE A 5675798 $1,837.69 19 01/01/1998 360
600119613 BAUER,PAUL M 5679147 $2,207.34 19 01/01/1998 180
600119614 PHILLIPS-INGRAM,KIMBERLY 5683016 $3,337.25 01/01/1998 180
600119615 LEHMKUHL,JOHN M. 5683941 $1,681.07 19 01/01/1998 360
600119616 BODY,DAVID 5687454 $2,371.43 01/01/1998 360
600119617 SAWYER,MICHAEL A 5689153 $1,827.93 12 01/01/1998 360
600119618 CHURCH,JEFFREY D 5693346 $2,746.92 01/01/1998 180
600119619 CARSTENSEN,ANDREW M. 5693403 $3,121.50 01/01/1998 180
600119620 BLACKWOOD,ANDREW J. 5698717 $1,569.01 01/01/1998 360
600119621 KRETSCHMAR,GEORGE 5705835 $2,003.52 01/01/1998 360
600119624 GOYER,VALERIE FLUGGE 5709845 $5,543.69 01/01/1998 180
600119625 SCHEIRE,RAYMOND J. 5709951 $1,842.39 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119609 IVERSEN,RUTH B. $378,400.00 N
600119610 LANEL,ERIC $378,000.00 N
600119611 MEDEIROS,SUE A $275,000.00 N
600119613 BAUER,PAUL M $275,000.00 N
600119614 PHILLIPS-INGRAM,KIMBERLY $450,000.00 N
600119615 LEHMKUHL,JOHN M. $247,000.00 N
600119616 BODY,DAVID $390,000.00 N
600119617 SAWYER,MICHAEL A $283,500.00 N
600119618 CHURCH,JEFFREY D $385,000.00 N
600119619 CARSTENSEN,ANDREW M. $560,000.00 N
600119620 BLACKWOOD,ANDREW J. $295,000.00 N
600119621 KRETSCHMAR,GEORGE $345,402.00 N
600119624 GOYER,VALERIE FLUGGE $780,000.00 N
600119625 SCHEIRE,RAYMOND J. $274,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 7
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119626 DEL BINO,JON J 10050 SNOWY OWL WAY AUBURN CA 95603 $239,651.49
600119627 MEYER,GEORGE A. 2840 NORTH BEVERLY DRIVE BEVERLY HILLS CA 90210 $662,855.98
600119628 DOYLE,KEVIN MICHAEL 233 SUN RIDGE DRIVE SAN RAMON CA 94583 $317,088.14
600119629 MABE,ROBERT DOSS 4260 SEA VIEW LANE LOS ANGELES CA 90065 $226,487.79
600119630 FERGUSON,THOMAS E. 2400 TWELVE OAKS COLLEYVILLE TX 76034 $250,609.16
600119631 HAQ,FAISAL 1072 DURHAM COURT SUNNYVALE CA 94087 $322,342.87
600119632 MALLOY,WILLIAM R. 1275 WEST DOLAN ROAD RATHDRUM ID 83858 $332,271.17
600119633 FORTINO,VICTOR 837 BRAINTREE LANE BARTLETT IL 60103 $244,437.24
600119634 BLASKOVIC,ROBERT 2221 CAMMIE WAGES ROA DACULA GA 30211 $281,741.82
600119636 WHITE,RAYMOND R 3721 MONTCHANIN ROAD GREENVILLE DE 19807 $387,450.53
600119637 MURPHY,MATHEW 18 CREST ROAD LAFAYETTE CA 94549 $231,687.62
600119638 SOLEIMANI,MAJID A. 5681 CHAMBERTIN DRIVE SAN JOSE CA 95118 $281,303.91
600119639 GAVIN, III,WILLIAM H. 1400 MCKENZIE AVENUE LOS ALTOS CA 94024 $422,012.68
600119640 OLSON,ERIK JEFFREY 2351 ADELE AVENUE MOUNTAIN VIEW CA 94043 $271,563.67
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119626 DEL BINO,JON J 7.625 .200 7.425 .0400 7.385 11/01/2027
600119627 MEYER,GEORGE A. 6.750 .200 6.550 .0400 6.510 12/01/2012
600119628 DOYLE,KEVIN MICHAEL 7.625 .200 7.425 .0400 7.385 11/01/2012
600119629 MABE,ROBERT DOSS 7.250 .200 7.050 .0400 7.010 11/01/2012
600119630 FERGUSON,THOMAS E. 7.375 .200 7.175 .0400 7.135 12/01/2027
600119631 HAQ,FAISAL 7.750 .200 7.550 .0400 7.510 11/01/2027
600119632 MALLOY,WILLIAM R. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119633 FORTINO,VICTOR 7.750 .200 7.550 .0400 7.510 11/01/2027
600119634 BLASKOVIC,ROBERT 7.250 .200 7.050 .0400 7.010 11/01/2027
600119636 WHITE,RAYMOND R 7.750 .200 7.550 .0400 7.510 11/01/2027
600119637 MURPHY,MATHEW 8.000 .200 7.800 .0400 7.760 11/01/2027
600119638 SOLEIMANI,MAJID A. 7.625 .200 7.425 .0400 7.385 11/01/2012
600119639 GAVIN, III,WILLIAM H. 6.750 .200 6.550 .0400 6.510 11/01/2012
600119640 OLSON,ERIK JEFFREY 7.125 .200 6.925 .0400 6.885 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>
600119626 DEL BINO,JON J 5709993 $1,698.71 01/01/1998 360
600119627 MEYER,GEORGE A. 5710249 $5,884.65 01/01/1998 180
600119628 DOYLE,KEVIN MICHAEL 5710694 $2,979.88 01/01/1998 180
600119629 MABE,ROBERT DOSS 5712179 $2,081.33 01/01/1998 180
600119630 FERGUSON,THOMAS E. 5713805 $1,732.22 01/01/1998 360
600119631 HAQ,FAISAL 5713946 $2,312.58 01/01/1998 360
600119632 MALLOY,WILLIAM R. 5714209 $2,410.86 99 01/01/1998 360
600119633 FORTINO,VICTOR 5714423 $1,755.21 1 01/01/1998 360
600119634 BLASKOVIC,ROBERT 5714456 $1,925.10 99 01/01/1998 360
600119636 WHITE,RAYMOND R 5715230 $2,779.68 01/01/1998 360
600119637 MURPHY,MATHEW 5715529 $1,702.34 01/01/1998 360
600119638 SOLEIMANI,MAJID A. 5715800 $2,643.59 01/01/1998 180
600119639 GAVIN, III,WILLIAM H. 5716642 $3,760.87 01/01/1998 180
600119640 OLSON,ERIK JEFFREY 5717145 $1,832.52 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119626 DEL BINO,JON J $300,000.00 N
600119627 MEYER,GEORGE A. $950,000.00 N
600119628 DOYLE,KEVIN MICHAEL $425,000.00 N
600119629 MABE,ROBERT DOSS $285,000.00 N
600119630 FERGUSON,THOMAS E. $313,500.00 N
600119631 HAQ,FAISAL $403,500.00 N
600119632 MALLOY,WILLIAM R. $350,000.00 N
600119633 FORTINO,VICTOR $290,000.00 N
600119634 BLASKOVIC,ROBERT $320,000.00 N
600119636 WHITE,RAYMOND R $485,000.00 N
600119637 MURPHY,MATHEW $290,000.00 N
600119638 SOLEIMANI,MAJID A. $390,000.00 N
600119639 GAVIN, III,WILLIAM H. $850,000.00 N
600119640 OLSON,ERIK JEFFREY $367,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 8
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119641 MEYERS,KENNETH S. 10746 ESTHER AVENUE LOS ANGELES CA 90064 $237,627.56
600119642 MONSEF,ATA TONY 586 MORE AVENUE LOS GATOS CA 95030 $238,513.76
600119643 SWARTZ,SYLVAN 9472 SOUTH BRYNMAR DRIVE VILLA PARK CA 92861 $315,595.59
600119644 MYRE,MATTHEW B. 9964 MORAVIA EFRAIM WI 54234 $399,433.54
600119645 BARRETT,MICHAEL 819 NORTHVALE ROAD OAKLAND CA 94610 $263,608.74
600119646 BAKER,DANIEL W. 1092 SIERRA VISTA WAY LAFAYETTE CA 94549 $284,596.39
600119647 WHITEHEAD,GARY C. 2830 KINNEY DRIVE WALNUT CREEK CA 94595 $299,575.15
600119648 HUENING,FREDERICK J 250 WOODLAND ROAD MADISON NJ 07940 $277,929.04
600119649 RESOR,THOMAS S. 357 FOX HILL STREET WESTWOOD MA 02090 $299,771.72
600119650 BACH,RICHARD G 7212 WESTMORELAND SAINT LOUIS MO 63130 $279,802.38
600119651 LUCERO,RICHARD 6351 RUNNING SPRINGS RD SAN JOSE CA 95125 $454,271.68
600119652 MCCROSKEY,SAM HOUSTON 77 ELM RIDGE ROAD HOPEWELL TOWNSH NJ 08540 $339,728.10
600119653 FERNANDEZ,RICHARD M 45 HICKOX RD NOVATO CA 94947 $246,120.72
600119654 ZANGARA,WILLIAM 5250 WAR WAGON DRIVE SAN JOSE CA 95136 $331,912.86
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119641 MEYERS,KENNETH S. 7.250 .200 7.050 .0400 7.010 11/01/2027
600119642 MONSEF,ATA TONY 7.250 .200 7.050 .0400 7.010 11/01/2012
600119643 SWARTZ,SYLVAN 8.250 .200 8.050 .0400 8.010 11/01/2027
600119644 MYRE,MATTHEW B. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119645 BARRETT,MICHAEL 7.750 .200 7.550 .0400 7.510 11/01/2027
600119646 BAKER,DANIEL W. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119647 WHITEHEAD,GARY C. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119648 HUENING,FREDERICK J 7.375 .200 7.175 .0400 7.135 12/01/2012
600119649 RESOR,THOMAS S. 7.375 .200 7.175 .0400 7.135 12/01/2027
600119650 BACH,RICHARD G 7.750 .200 7.550 .0400 7.510 12/01/2027
600119651 LUCERO,RICHARD 7.875 .200 7.675 .0400 7.635 11/01/2027
600119652 MCCROSKEY,SAM HOUSTON 7.125 .200 6.925 .0400 6.885 12/01/2027
600119653 FERNANDEZ,RICHARD M 7.000 .200 6.800 .0400 6.760 12/01/2012
600119654 ZANGARA,WILLIAM 8.125 .200 7.925 .0400 7.885 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>
600119641 MEYERS,KENNETH S. 5717665 $1,623.58 01/01/1998 360
600119642 MONSEF,ATA TONY 5717863 $2,190.88 01/01/1998 180
600119643 SWARTZ,SYLVAN 5717988 $2,374.01 01/01/1998 360
600119644 MYRE,MATTHEW B. 5718242 $2,865.65 01/01/1998 360
600119645 BARRETT,MICHAEL 5718317 $1,891.33 01/01/1998 360
600119646 BAKER,DANIEL W. 5718531 $2,041.78 01/01/1998 360
600119647 WHITEHEAD,GARY C. 5718754 $2,149.24 01/01/1998 360
600119648 HUENING,FREDERICK J 5719232 $2,575.79 01/01/1998 180
600119649 RESOR,THOMAS S. 5719968 $2,072.03 01/01/1998 360
600119650 BACH,RICHARD G 5720289 $2,005.96 01/01/1998 360
600119651 LUCERO,RICHARD 5720297 $3,299.07 01/01/1998 360
600119652 MCCROSKEY,SAM HOUSTON 5720412 $2,290.65 01/01/1998 360
600119653 FERNANDEZ,RICHARD M 5720529 $2,220.11 01/01/1998 180
600119654 ZANGARA,WILLIAM 5720800 $2,468.07 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119641 MEYERS,KENNETH S. $500,000.00 N
600119642 MONSEF,ATA TONY $772,000.00 N
600119643 SWARTZ,SYLVAN $395,000.00 N
600119644 MYRE,MATTHEW B. $532,000.00 N
600119645 BARRETT,MICHAEL $330,000.00 N
600119646 BAKER,DANIEL W. $460,000.00 N
600119647 WHITEHEAD,GARY C. $375,000.00 N
600119648 HUENING,FREDERICK J $750,000.00 N
600119649 RESOR,THOMAS S. $1,500,000.00 N
600119650 BACH,RICHARD G $350,000.00 N
600119651 LUCERO,RICHARD $570,000.00 N
600119652 MCCROSKEY,SAM HOUSTON $425,000.00 N
600119653 FERNANDEZ,RICHARD M $400,000.00 N
600119654 ZANGARA,WILLIAM $349,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 9
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119656 JONES II,RICHARD LEE 4105 PFEIFER COURT LAKE OSWEGO OR 97035 $398,874.81
600119657 WITTWIER,NORMAN 11 WYCKOFF ROAD BETHLEHEM TOWNS NJ 08827 $279,807.30
600119658 KELLMAN,CRAIG D. 258 MESA LILA GLENDALE CA 91208 $314,132.73
600119659 SLESINGER,PAUL A. 12669 PORTADA PLACE SAN DIEGO CA 92130 $277,838.42
600119660 LEE,MARK R. 135 CALIENTE DRIVE SCOTTS VALLEY CA 95066 $252,627.97
600119661 DUTTA,ANIL K 10828 SUNSET RIDGE DRIVE SAN DIEGO CA 92131 $314,672.08
600119662 PARTHAFARATHI,PRASANAN 5 STUART ROAD NEWTON MA 02159 $264,624.71
600119664 DUMITRIU,MIHAIL 21853 MONTE COURT CUPERTINO CA 95014 $381,723.67
600119665 WAYNE,STEVEN 12420 EVERGLADE STREET LOS ANGELES CA 90066 $260,657.38
600119666 HEIN,JAMES R. 121 HOLLYWOOD AVENUE SANTA CRUZ CA 95060 $305,067.37
600119667 HAUER III,RICHARD W 16 HICKORY ROAD SUMMIT NJ 07901 $345,761.88
600119668 GREEN,KATE M. 42 DIRKSEN DRIVE WILTON CT 06897 $266,806.75
600119669 BLECKLEY, III,NOVA F. 327 LUGONIA STREET NEWPORT BEACH CA 92663 $306,983.18
600119671 UNDERWOOD,PAUL 77 SUNVIEW DRIVE SAN FRANCISCO CA 94131 $230,181.70
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119656 JONES II,RICHARD LEE 7.250 .200 7.050 .0400 7.010 11/01/2027
600119657 WITTWIER,NORMAN 7.875 .200 7.675 .0400 7.635 12/01/2027
600119658 KELLMAN,CRAIG D. 7.875 .200 7.675 .0400 7.635 11/01/2027
600119659 SLESINGER,PAUL A. 7.375 .200 7.175 .0400 7.135 12/01/2027
600119660 LEE,MARK R. 7.625 .200 7.425 .0400 7.385 11/01/2027
600119661 DUTTA,ANIL K 7.625 .200 7.425 .0400 7.385 12/01/2027
600119662 PARTHAFARATHI,PRASANAN 7.750 .200 7.550 .0400 7.510 11/01/2027
600119664 DUMITRIU,MIHAIL 7.750 .200 7.550 .0400 7.510 11/01/2012
600119665 WAYNE,STEVEN 8.125 .200 7.925 .0400 7.885 11/01/2027
600119666 HEIN,JAMES R. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119667 HAUER III,RICHARD W 7.875 .200 7.675 .0400 7.635 12/01/2027
600119668 GREEN,KATE M. 7.625 .200 7.425 .0400 7.385 12/01/2027
600119669 BLECKLEY, III,NOVA F. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119671 UNDERWOOD,PAUL 7.875 .200 7.675 .0400 7.635 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>
600119656 JONES II,RICHARD LEE 5722343 $2,725.30 19 01/01/1998 360
600119657 WITTWIER,NORMAN 5722723 $2,030.20 01/01/1998 360
600119658 KELLMAN,CRAIG D. 5722780 $2,281.44 19 01/01/1998 360
600119659 SLESINGER,PAUL A. 5723010 $1,920.43 19 01/01/1998 360
600119660 LEE,MARK R. 5723812 $1,797.80 01/01/1998 360
600119661 DUTTA,ANIL K 5723820 $2,228.85 19 01/01/1998 360
600119662 PARTHAFARATHI,PRASANAN 5724083 $1,898.50 01/01/1998 360
600119664 DUMITRIU,MIHAIL 5724455 $3,614.50 01/01/1998 180
600119665 WAYNE,STEVEN 5724588 $1,937.92 01/01/1998 360
600119666 HEIN,JAMES R. 5724646 $2,188.64 01/01/1998 360
600119667 HAUER III,RICHARD W 5724984 $2,508.75 19 01/01/1998 360
600119668 GREEN,KATE M. 5725031 $1,889.81 01/01/1998 360
600119669 BLECKLEY, III,NOVA F. 5725064 $2,200.82 01/01/1998 360
600119671 UNDERWOOD,PAUL 5726674 $1,671.29 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119656 JONES II,RICHARD LEE $470,000.00 N
600119657 WITTWIER,NORMAN $490,000.00 N
600119658 KELLMAN,CRAIG D. $350,000.00 N
600119659 SLESINGER,PAUL A. $309,000.00 N
600119660 LEE,MARK R. $346,000.00 N
600119661 DUTTA,ANIL K $350,000.00 N
600119662 PARTHAFARATHI,PRASANAN $470,000.00 N
600119664 DUMITRIU,MIHAIL $603,000.00 N
600119665 WAYNE,STEVEN $355,000.00 N
600119666 HEIN,JAMES R. $440,000.00 N
600119667 HAUER III,RICHARD W $385,000.00 N
600119668 GREEN,KATE M. $455,000.00 N
600119669 BLECKLEY, III,NOVA F. $384,000.00 N
600119671 UNDERWOOD,PAUL $289,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 10
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119672 SINN,GEOFFREY L 3487 QUEENS COURT COSTA MESA CA 92626 $283,021.79
600119673 CHERNICOFF,RICHARD S. 1320 MANNING AVENUE LOS ANGELES CA 90024 $379,308.41
600119674 BOEHM,RODNEY J 4707 HEATHERBROOK DRIVE DALLAS TX 75244 $264,026.92
600119675 RAGER, JR.,KENNETH A. 31751 ISLE ROYAL DRIVE LAGUNA NIGUEL CA 92677 $241,273.27
600119676 KELLY,KEVIN R 334 S CENTRAL AVE RAMSEY NJ 07446 $231,840.34
600119677 CONROY,ALAN R. 3339 WINNETKA DRIVE BONITA CA 91902 $232,297.35
600119678 NICHOLSON,THOMAS CORNELL 3972 SOUTH SPRING LOOP ROSWELL NM 88201 $282,576.04
600119679 LIU,JAMES C. 730 SPENCER COURT LOS ALTOS CA 94024 $462,946.70
600119680 DE LISLE,HENRY 1204 PLANTATION DRIVE GRAPEVINE TX 76092 $318,968.28
600119681 LAROSE,MARK T. 3132 SOUTH RIDGE DRIVE AKRON OH 44333 $589,327.80
600119682 LEVIN,PETER L. 29111 COUNTRY HILLS ROAD SAN JUAN CAPIST CA 92675 $245,624.45
600119683 REVIER,ANTHONY R. 13130 BELLA VISTA COURT CHINO HILLS CA 91709 $227,254.19
600119684 KEITEL,DAVID 2166 KENILWORTH AVENUE LOS ANGELES CA 90039 $291,575.97
600119685 BADER,JAMIE B. 91 CRANBERRY CIRCLE SUDBURY MA 01776 $452,437.90
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119672 SINN,GEOFFREY L 7.500 .200 7.300 .0400 7.260 12/01/2027
600119673 CHERNICOFF,RICHARD S. 7.375 .200 7.175 .0400 7.135 11/01/2027
600119674 BOEHM,RODNEY J 7.750 .200 7.550 .0400 7.510 12/01/2027
600119675 RAGER, JR.,KENNETH A. 7.375 .200 7.175 .0400 7.135 11/01/2027
600119676 KELLY,KEVIN R 7.875 .200 7.675 .0400 7.635 12/01/2027
600119677 CONROY,ALAN R. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119678 NICHOLSON,THOMAS CORNELL 6.625 .200 6.425 .0400 6.385 12/01/2012
600119679 LIU,JAMES C. 7.375 .200 7.175 .0400 7.135 11/01/2012
600119680 DE LISLE,HENRY 6.750 .200 6.550 .0400 6.510 12/01/2012
600119681 LAROSE,MARK T. 7.250 .200 7.050 .0400 7.010 11/01/2012
600119682 LEVIN,PETER L. 7.375 .200 7.175 .0400 7.135 11/01/2027
600119683 REVIER,ANTHONY R. 8.125 .200 7.925 .0400 7.885 11/01/2027
600119684 KEITEL,DAVID 7.625 .200 7.425 .0400 7.385 11/01/2027
600119685 BADER,JAMIE B. 7.125 .200 6.925 .0400 6.885 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>
600119672 SINN,GEOFFREY L 5727037 $1,982.28 19 01/01/1998 360
600119673 CHERNICOFF,RICHARD S. 5727276 $2,624.57 01/01/1998 360
600119674 BOEHM,RODNEY J 5729173 $1,896.71 19 01/01/1998 360
600119675 RAGER, JR.,KENNETH A. 5729546 $1,671.44 01/01/1998 360
600119676 KELLY,KEVIN R 5730346 $1,682.17 12 01/01/1998 360
600119677 CONROY,ALAN R. 5730973 $1,666.74 19 01/01/1998 360
600119678 NICHOLSON,THOMAS CORNELL 5731062 $2,489.12 01/01/1998 180
600119679 LIU,JAMES C. 5732482 $4,285.01 01/01/1998 180
600119680 DE LISLE,HENRY 5733258 $2,831.72 01/01/1998 180
600119681 LAROSE,MARK T. 5733787 $5,413.28 01/01/1998 180
600119682 LEVIN,PETER L. 5734256 $1,699.07 01/01/1998 360
600119683 REVIER,ANTHONY R. 5735006 $1,690.67 19 01/01/1998 360
600119684 KEITEL,DAVID 5735022 $2,066.76 01/01/1998 360
600119685 BADER,JAMIE B. 5735253 $3,050.60 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119672 SINN,GEOFFREY L $315,000.00 N
600119673 CHERNICOFF,RICHARD S. $475,000.00 N
600119674 BOEHM,RODNEY J $305,000.00 N
600119675 RAGER, JR.,KENNETH A. $333,000.00 N
600119676 KELLY,KEVIN R $275,000.00 N
600119677 CONROY,ALAN R. $258,500.00 N
600119678 NICHOLSON,THOMAS CORNELL $500,000.00 N
600119679 LIU,JAMES C. $700,000.00 N
600119680 DE LISLE,HENRY $420,000.00 N
600119681 LAROSE,MARK T. $900,000.00 N
600119682 LEVIN,PETER L. $325,000.00 N
600119683 REVIER,ANTHONY R. $260,000.00 N
600119684 KEITEL,DAVID $365,000.00 N
600119685 BADER,JAMIE B. $566,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 11
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119686 MANSFIELD,DAVID W 6231 BAYSHORE DRIVE HARRISON TN 37341 $521,003.16
600119687 PENCE,THOMAS L. 4778 COLONIAL HARBOR LOUISVILLE TN 37777 $245,313.19
600119688 ARONOFF,BARRY J. 37075 OAK VIEW ROAD YUCAIPA CA 92399 $247,595.19
600119689 STEIN,FREDERICK P 7109 WOODLAND DRIVE SPRINGFIELD VA 22151 $351,264.14
600119690 OSELAND,BRUCE J. 50 SPRING HOUSE LANE BASKING RIDGE NJ 07920 $364,708.11
600119691 MONAHAN,KEVIN J 428 SANTA MESA DRIVE SAN JOSE CA 95123 $229,666.00
600119693 JORDAN,ELIZABETH 2030 LEEDOMS DRIVE NEWTOWN PA 18940 $251,394.30
600119694 GRAY,GUY T. 15 SHAKER MILL ROAD RANDOLPH NJ 07869 $386,649.28
600119695 SALERNO,MARK 8236 EAST CAREFREE DRIVE CAREFREE AZ 85377 $285,787.74
600119697 HOWARD,GREGORY F. 1320 BARDS AVENUE NAPERVILLE IL 60540 $253,627.90
600119698 TOBIN,ANNMARIE E. 3 CEDAR PLACE GLADSTONE NJ 07934 $329,729.50
600119699 SATTERFIELD,J. CRAIG 9496 GREYSTONE PARKWAY BRECKSVILLE OH 44141 $263,783.60
600119700 WOLFF,KATHERINE 7630 CARMEL VALLEY ROAD CARMEL CA 93923 $271,808.02
600119701 HAGEN,TIMOTHY 1225 DELLES ROAD WHEATON IL 60187 $233,558.39
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119686 MANSFIELD,DAVID W 7.375 .200 7.175 .0400 7.135 11/01/2027
600119687 PENCE,THOMAS L. 7.375 .200 7.175 .0400 7.135 12/01/2027
600119688 ARONOFF,BARRY J. 7.625 .200 7.425 .0400 7.385 11/01/2027
600119689 STEIN,FREDERICK P 8.000 .950 7.050 .0400 7.010 12/01/2027
600119690 OSELAND,BRUCE J. 7.125 .200 6.925 .0400 6.885 12/01/2027
600119691 MONAHAN,KEVIN J 7.625 .200 7.425 .0400 7.385 11/01/2027
600119693 JORDAN,ELIZABETH 7.125 .200 6.925 .0400 6.885 12/01/2027
600119694 GRAY,GUY T. 7.375 .575 6.800 .0400 6.760 12/01/2027
600119695 SALERNO,MARK 7.500 .200 7.300 .0400 7.260 12/01/2027
600119697 HOWARD,GREGORY F. 8.250 .700 7.550 .0400 7.510 12/01/2027
600119698 TOBIN,ANNMARIE E. 7.000 .200 6.800 .0400 6.760 12/01/2027
600119699 SATTERFIELD,J. CRAIG 7.000 .200 6.800 .0400 6.760 12/01/2027
600119700 WOLFF,KATHERINE 7.750 .200 7.550 .0400 7.510 12/01/2027
600119701 HAGEN,TIMOTHY 7.000 .200 6.800 .0400 6.760 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>
600119686 MANSFIELD,DAVID W 5735329 $3,605.32 01/01/1998 360
600119687 PENCE,THOMAS L. 5735352 $1,695.61 01/01/1998 360
600119688 ARONOFF,BARRY J. 5736392 $1,755.33 01/01/1998 360
600119689 STEIN,FREDERICK P 5737432 $2,579.19 3 01/01/1998 360
600119690 OSELAND,BRUCE J. 5739636 $2,459.08 01/01/1998 360
600119691 MONAHAN,KEVIN J 5740246 $1,627.93 01/01/1998 360
600119693 JORDAN,ELIZABETH 5746862 $1,695.08 01/01/1998 360
600119694 GRAY,GUY T. 5747670 $2,672.92 3 01/01/1998 360
600119695 SALERNO,MARK 5754858 $1,999.76 19 01/01/1998 360
600119697 HOWARD,GREGORY F. 5758610 $1,906.72 3 01/01/1998 360
600119698 TOBIN,ANNMARIE E. 5758974 $2,195.50 01/01/1998 360
600119699 SATTERFIELD,J. CRAIG 5759568 $1,756.40 01/01/1998 360
600119700 WOLFF,KATHERINE 5760244 $1,948.65 01/01/1998 360
600119701 HAGEN,TIMOTHY 5762679 $1,555.15 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119686 MANSFIELD,DAVID W $703,000.00 N
600119687 PENCE,THOMAS L. $350,000.00 N
600119688 ARONOFF,BARRY J. $310,000.00 N
600119689 STEIN,FREDERICK P $370,000.00 N
600119690 OSELAND,BRUCE J. $615,000.00 N
600119691 MONAHAN,KEVIN J $339,000.00 N
600119693 JORDAN,ELIZABETH $314,500.00 N
600119694 GRAY,GUY T. $430,000.00 N
600119695 SALERNO,MARK $318,000.00 N
600119697 HOWARD,GREGORY F. $282,000.00 N
600119698 TOBIN,ANNMARIE E. $496,000.00 N
600119699 SATTERFIELD,J. CRAIG $359,000.00 N
600119700 WOLFF,KATHERINE $340,000.00 N
600119701 HAGEN,TIMOTHY $275,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 12
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119702 THOMAS,KENNETH 4500 ST. ANDREWS COURT MIDDLETOWN OH 45042 $229,640.06
600119705 VAN MEEUWEN,ALEXANDER 930 CHEROKEE LANE FRANKLIN LAKES NJ 07417 $691,460.16
600119706 MC FARLAND,ROBERT B 28614 BARN ROCK DRIVE HAYWARD CA 94542 $378,739.17
600119707 MARSHALL,JOHN R 3433 CRESTWOOD DR MADISON WI 53705 $368,870.24
600119708 RHEEL,ROBERT H 1022 SLATE DRIVE SANTA ROSA CA 95401 $448,226.03
600119709 ONYIA,ERNEST C. 109 RUNNING DEER ROAD MAURICE LA 70555 $251,581.07
600119710 GONZALEZ JR.,JOSE F 574 ARMITOS PLACE DIAMOND BAR CA 91765 $232,036.11
600119711 CAZAR,ALFONSO 10 HICKORY LANE WALDWICK NJ 07463 $236,083.25
600119713 BUTLER,WILLIAM F. 13630 W PEORIA AV EL MIRAGE AZ 85335 $399,433.54
600119714 ROBINSON,HARRISON 2953 GREEN CREST COURT FITCHBURG WI 53711 $244,827.07
600119715 WILSON,MARTIN E 344 MIDVALE AVE. SAN MATEO CA 94403 $303,547.35
600119716 EVANS,JACQUELYN D. 30 ALTA ROAD BERKELEY CA 94708 $333,908.20
600119717 THOMPSON,BRETT A 4125 IROQUOIS DRIVE MADISON WI 53711 $299,524.06
600119718 JOHNSON,MARK F. 5133 EAST CRESTVIEW PARADISE VALLEY AZ 85253 $457,498.79
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119702 THOMAS,KENNETH 7.250 .200 7.050 .0400 7.010 11/01/2027
600119705 VAN MEEUWEN,ALEXANDER 7.250 .200 7.050 .0400 7.010 12/01/2027
600119706 MC FARLAND,ROBERT B 7.875 .200 7.675 .0400 7.635 12/01/2027
600119707 MARSHALL,JOHN R 7.375 .200 7.175 .0400 7.135 12/01/2012
600119708 RHEEL,ROBERT H 7.250 .200 7.050 .0400 7.010 11/01/2027
600119709 ONYIA,ERNEST C. 8.000 .950 7.050 .0400 7.010 12/01/2027
600119710 GONZALEZ JR.,JOSE F 7.750 .200 7.550 .0400 7.510 12/01/2027
600119711 CAZAR,ALFONSO 7.750 .200 7.550 .0400 7.510 12/01/2027
600119713 BUTLER,WILLIAM F. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119714 ROBINSON,HARRISON 7.750 .200 7.550 .0400 7.510 12/01/2027
600119715 WILSON,MARTIN E 7.500 .200 7.300 .0400 7.260 11/01/2027
600119716 EVANS,JACQUELYN D. 6.625 .200 6.425 .0400 6.385 12/01/2012
600119717 THOMPSON,BRETT A 7.750 .200 7.550 .0400 7.510 11/01/2027
600119718 JOHNSON,MARK F. 7.375 .200 7.175 .0400 7.135 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600119702 THOMAS,KENNETH 5763297 $1,569.01 19 01/01/1998 360
600119705 VAN MEEUWEN,ALEXANDER 5771480 $4,720.67 01/01/1998 360
600119706 MC FARLAND,ROBERT B 5772298 $2,748.02 01/01/1998 360
600119707 MARSHALL,JOHN R 5773700 $3,403.72 01/01/1998 180
600119708 RHEEL,ROBERT H 5775580 $3,062.97 01/01/1998 360
600119709 ONYIA,ERNEST C. 5777727 $1,847.26 3 01/01/1998 360
600119710 GONZALEZ JR.,JOSE F 5777917 $1,663.51 19 01/01/1998 360
600119711 CAZAR,ALFONSO 5779822 $1,692.53 19 01/01/1998 360
600119713 BUTLER,WILLIAM F. 5780655 $2,865.65 01/01/1998 360
600119714 ROBINSON,HARRISON 5788898 $1,755.22 01/01/1998 360
600119715 WILSON,MARTIN E 5792221 $2,125.62 01/01/1998 360
600119716 EVANS,JACQUELYN D. 5792247 $2,941.28 01/01/1998 180
600119717 THOMPSON,BRETT A 5793633 $2,149.24 01/01/1998 360
600119718 JOHNSON,MARK F. 5796487 $4,221.53 01/01/1998 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>
600119702 THOMAS,KENNETH $245,000.00 N
600119705 VAN MEEUWEN,ALEXANDER $865,000.00 N
600119706 MC FARLAND,ROBERT B $475,000.00 N
600119707 MARSHALL,JOHN R $683,800.00 N
600119708 RHEEL,ROBERT H $579,950.00 N
600119709 ONYIA,ERNEST C. $265,000.00 N
600119710 GONZALEZ JR.,JOSE F $258,000.00 N
600119711 CAZAR,ALFONSO $262,500.00 N
600119713 BUTLER,WILLIAM F. $600,000.00 N
600119714 ROBINSON,HARRISON $329,500.00 N
600119715 WILSON,MARTIN E $380,000.00 N
600119716 EVANS,JACQUELYN D. $560,000.00 N
600119717 THOMPSON,BRETT A $380,000.00 N
600119718 JOHNSON,MARK F. $675,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 13
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119719 KAUFMAN, JR.,KIMBALL C. 57 TERRACE LANE SAN RAFAEL CA 94901 $492,301.83
600119720 TICEHURST,BRIAN P. 11481 WEMBLEY ROAD LOS ALAMITOS CA 90720 $292,105.41
600119721 CRAWFORD,KENNETH L. 605 CASTLE LANE LOS ALTOS CA 94022 $414,270.06
600119722 FRIERSON,LARRY J. 99 SAINT THOMAS WAY TIBURON CA 94920 $639,116.21
600119723 HADEN,RODNEY D. 127 CYPRESS AVENUE KENTFIELD CA 94904 $455,255.09
600119724 NOYES,ROBERT B. 944 SLADKY AVENUE MOUNTAIN VIEW CA 94040 $274,804.14
600119725 KADAMBI,SRINARAYAN 1690 PARK HILLS AVENUE LOS ALTOS CA 94024 $449,313.06
600119726 ROUS,GREGORY S. 2620 HEATHERSTONE DRIVE SAN RAFAEL CA 94903 $244,184.69
600119727 CAMERON,CHRISTOPHER P. 1230 WEST HEDDING STREET SAN JOSE CA 95126 $498,293.34
600119728 CHAN,NELSON S. 2280 SPRINGWATER DRIVE FREMONT CA 94539 $364,198.08
600119729 HOLLER,LEO J. 9228 LA BARCA CIRCLE FOUNTAIN VALLEY CA 92708 $229,566.15
600119730 SCHROFF,EDMUND A. 3480 MOLINARI ROAD SANTA ROSA CA 95404 $629,107.83
600119731 LANDRE,JEFF G. 9199 KING ROAD LOOMIS CA 95650 $504,322.96
600119732 CARTE,STEVEN D. 13449 KODIAC PLACE SARATOGA CA 95070 $399,419.14
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119719 KAUFMAN, JR.,KIMBALL C. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119720 TICEHURST,BRIAN P. 8.000 .200 7.800 .0400 7.760 11/01/2027
600119721 CRAWFORD,KENNETH L. 7.250 .200 7.050 .0400 7.010 11/01/2027
600119722 FRIERSON,LARRY J. 7.875 .200 7.675 .0400 7.635 11/01/2027
600119723 HADEN,RODNEY D. 7.625 .200 7.425 .0400 7.385 11/01/2012
600119724 NOYES,ROBERT B. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119725 KADAMBI,SRINARAYAN 7.375 .200 7.175 .0400 7.135 11/01/2027
600119726 ROUS,GREGORY S. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119727 CAMERON,CHRISTOPHER P. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119728 CHAN,NELSON S. 7.750 .200 7.550 .0400 7.510 11/01/2022
600119729 HOLLER,LEO J. 7.625 .200 7.425 .0400 7.385 11/01/2027
600119730 SCHROFF,EDMUND A. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119731 LANDRE,JEFF G. 7.125 .200 6.925 .0400 6.885 11/01/2012
600119732 CARTE,STEVEN D. 7.625 .200 7.425 .0400 7.385 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>
600119719 KAUFMAN, JR.,KIMBALL C. 5797212 $3,531.92 01/01/1998 360
600119720 TICEHURST,BRIAN P. 5797675 $2,149.94 01/01/1998 360
600119721 CRAWFORD,KENNETH L. 5797808 $2,831.04 01/01/1998 360
600119722 FRIERSON,LARRY J. 5798384 $4,640.45 01/01/1998 360
600119723 HADEN,RODNEY D. 5798459 $4,278.32 01/01/1998 180
600119724 NOYES,ROBERT B. 5798509 $1,988.05 01/01/1998 360
600119725 KADAMBI,SRINARAYAN 5798525 $3,108.04 01/01/1998 360
600119726 ROUS,GREGORY S. 5798574 $1,751.86 01/01/1998 360
600119727 CAMERON,CHRISTOPHER P. 5798608 $3,574.90 01/01/1998 360
600119728 CHAN,NELSON S. 5798632 $2,756.96 01/01/1998 300
600119729 HOLLER,LEO J. 5798699 $1,627.22 19 01/01/1998 360
600119730 SCHROFF,EDMUND A. 5798756 $4,513.40 01/01/1998 360
600119731 LANDRE,JEFF G. 5798806 $4,597.10 01/01/1998 180
600119732 CARTE,STEVEN D. 5798863 $2,831.18 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119719 KAUFMAN, JR.,KIMBALL C. $620,000.00 N
600119720 TICEHURST,BRIAN P. $390,000.00 N
600119721 CRAWFORD,KENNETH L. $630,000.00 N
600119722 FRIERSON,LARRY J. $820,000.00 N
600119723 HADEN,RODNEY D. $850,000.00 N
600119724 NOYES,ROBERT B. $440,000.00 N
600119725 KADAMBI,SRINARAYAN $625,000.00 N
600119726 ROUS,GREGORY S. $315,000.00 N
600119727 CAMERON,CHRISTOPHER P. $652,000.00 N
600119728 CHAN,NELSON S. $522,500.00 N
600119729 HOLLER,LEO J. $242,000.00 N
600119730 SCHROFF,EDMUND A. $850,000.00 N
600119731 LANDRE,JEFF G. $635,000.00 N
600119732 CARTE,STEVEN D. $625,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 14
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119733 KARSHMER,DAVID LEWIS 725 SAN MATEO DRIVE MENLO PARK CA 94025 $506,392.34
600119734 LINDSEY,DONALD G. 1611 PAM LANE SAN JOSE CA 95120 $269,577.47
600119735 BECK,STEPHEN C. 4427 HOBBS DRIVE LA CANADA FLINT CA 91011 $392,400.06
600119736 PATTON,MICHAEL LEE 6131 ARNO DRIVE SAN DIEGO CA 92120 $254,609.43
600119737 COFFEY,MICHAEL P. 409 SUNNYSIDE PLACE SAN RAMON CA 94583 $331,953.29
600119738 PERKINS,GEORGE W. 3024 MOTOR AVENUE LOS ANGELES CA 90064 $479,302.95
600119739 DEMBO,CHARLES 212 TRANQUILLO ROAD PACIFIC PALASAD CA 90272 $546,322.22
600119740 KUROWSKI,KORDIAN J. 3673 MEADOWLANDS LANE SAN JOSE CA 95135 $387,262.23
600119741 CHITALIA,VIPUL 2473 FLICKINGER ROAD SAN JOSE CA 95131 $263,626.14
600119743 ACKER,CHRISTOPHER B. 3709 REDWOOD CIRCLE PALO ALTO CA 94306 $383,869.18
600119744 ORUM,SANDIE 221 GRAMERCY DRIVE SAN MATEO CA 94402 $444,369.81
600119745 LANG-REE,ARNE 107 AURORA LANE LOS GATOS CA 95032 $399,695.62
600119746 HUGHES,MICHAEL ALAN 17162 OSBORNE STREET LOS ANGELES CA 91325 $307,563.81
600119747 FOURNIER,LOUIS 3561 CAMELIA STREET SEAL BEACH CA 90740 $279,603.47
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119733 KARSHMER,DAVID LEWIS 7.750 .200 7.550 .0400 7.510 12/01/2027
600119734 LINDSEY,DONALD G. 7.250 .200 7.050 .0400 7.010 11/01/2027
600119735 BECK,STEPHEN C. 7.375 .200 7.175 .0400 7.135 11/01/2027
600119736 PATTON,MICHAEL LEE 7.625 .200 7.425 .0400 7.385 11/01/2027
600119737 COFFEY,MICHAEL P. 7.000 .200 6.800 .0400 6.760 11/01/2027
600119738 PERKINS,GEORGE W. 7.625 .200 7.425 .0400 7.385 11/01/2027
600119739 DEMBO,CHARLES 7.125 .200 6.925 .0400 6.885 11/01/2027
600119740 KUROWSKI,KORDIAN J. 7.000 .200 6.800 .0400 6.760 11/01/2027
600119741 CHITALIA,VIPUL 7.750 .200 7.550 .0400 7.510 11/01/2027
600119743 ACKER,CHRISTOPHER B. 7.875 .200 7.675 .0400 7.635 11/01/2027
600119744 ORUM,SANDIE 7.750 .200 7.550 .0400 7.510 11/01/2027
600119745 LANG-REE,ARNE 7.375 .200 7.175 .0400 7.135 12/01/2027
600119746 HUGHES,MICHAEL ALAN 7.750 .200 7.550 .0400 7.510 11/01/2027
600119747 FOURNIER,LOUIS 7.750 .200 7.550 .0400 7.510 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>
600119733 KARSHMER,DAVID LEWIS 5798871 $3,630.42 01/01/1998 360
600119734 LINDSEY,DONALD G. 5798962 $1,841.88 01/01/1998 360
600119735 BECK,STEPHEN C. 5799010 $2,714.36 01/01/1998 360
600119736 PATTON,MICHAEL LEE 5799325 $1,804.88 01/01/1998 360
600119737 COFFEY,MICHAEL P. 5799341 $2,212.14 01/01/1998 360
600119738 PERKINS,GEORGE W. 5799416 $3,397.42 01/01/1998 360
600119739 DEMBO,CHARLES 5799440 $3,686.59 01/01/1998 360
600119740 KUROWSKI,KORDIAN J. 5799531 $2,580.71 01/01/1998 360
600119741 CHITALIA,VIPUL 5799580 $1,891.33 01/01/1998 360
600119743 ACKER,CHRISTOPHER B. 5799713 $2,787.17 01/01/1998 360
600119744 ORUM,SANDIE 5799721 $3,188.04 01/01/1998 360
600119745 LANG-REE,ARNE 5800297 $2,762.71 01/01/1998 360
600119746 HUGHES,MICHAEL ALAN 5800339 $2,206.56 19 01/01/1998 360
600119747 FOURNIER,LOUIS 5800396 $2,005.96 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119733 KARSHMER,DAVID LEWIS $862,000.00 N
600119734 LINDSEY,DONALD G. $527,500.00 N
600119735 BECK,STEPHEN C. $610,000.00 N
600119736 PATTON,MICHAEL LEE $320,000.00 N
600119737 COFFEY,MICHAEL P. $527,500.00 N
600119738 PERKINS,GEORGE W. $600,000.00 N
600119739 DEMBO,CHARLES $684,000.00 N
600119740 KUROWSKI,KORDIAN J. $484,950.00 N
600119741 CHITALIA,VIPUL $362,000.00 N
600119743 ACKER,CHRISTOPHER B. $520,000.00 N
600119744 ORUM,SANDIE $635,000.00 N
600119745 LANG-REE,ARNE $540,000.00 N
600119746 HUGHES,MICHAEL ALAN $350,000.00 N
600119747 FOURNIER,LOUIS $320,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 15
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119748 KOEPPEL,PETER S. 5411 ST. CHARLES AVENUE NEW ORLEANS LA 70115 $499,309.54
600119749 LAMBERT,CARTER E. 261 COVENTRY DR CAMPBELL CA 95008 $279,435.47
600119750 GIFFIN,JAMES P. 203 WEST BALTIMORE AVENUE LARKSPUR CA 94939 $371,473.18
600119751 BEGG,JOHN R. 100 SURFWOOD CIRCLE SAN RAFAEL CA 94901 $367,561.67
600119752 HUMPHRIES,TODD 249 RANDALL STREET SAN FRANCISCO CA 94131 $316,362.53
600119753 DONG,ALLAN YUAN 2329 LINCOLN WAY SAN FRANCISCO CA 94122 $244,487.18
600119754 PLAVCHAK,ROBERT J. 2516 PACIFIC AVENUE MANHATTAN BEACH CA 90266 $595,090.19
600119755 RENWICK,BRUCE ALAN 3912 WITZEL DRVE LOS ANGELES CA 91423 $289,500.63
600119756 ANDREWS,ELIZABETH 4107 21ST STREET SAN FRANCISCO CA 94114 $347,735.20
600119757 CUTTS,SUZANNE E 60 HARTFORD STREET SAN FRANCISCO CA 94114 $327,535.49
600119758 WARSHAW,CHRIS J. 1622 1ST STREET MANHATTAN BEACH CA 90266 $251,643.13
600119759 NIJMEH,OSAMA E. 6407 SKYFARM COURT SAN JOSE CA 95120 $239,830.61
600119760 RAY,STEVE R. 921 MORAGA COURT PALO ALTO CA 94304 $607,570.88
600119761 MEECHAM,W.J. 727 46TH AVENUE SAN FRANCISCO CA 94121 $382,692.58
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119748 KOEPPEL,PETER S. 7.875 .200 7.675 .0400 7.635 11/01/2027
600119749 LAMBERT,CARTER E. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119750 GIFFIN,JAMES P. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119751 BEGG,JOHN R. 7.375 .200 7.175 .0400 7.135 12/01/2027
600119752 HUMPHRIES,TODD 7.875 .200 7.675 .0400 7.635 11/01/2027
600119753 DONG,ALLAN YUAN 7.625 .200 7.425 .0400 7.385 11/01/2027
600119754 PLAVCHAK,ROBERT J. 7.375 .200 7.175 .0400 7.135 11/01/2027
600119755 RENWICK,BRUCE ALAN 7.875 .200 7.675 .0400 7.635 12/01/2027
600119756 ANDREWS,ELIZABETH 7.375 .200 7.175 .0400 7.135 12/01/2027
600119757 CUTTS,SUZANNE E 7.750 .200 7.550 .0400 7.510 11/01/2027
600119758 WARSHAW,CHRIS J. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119759 NIJMEH,OSAMA E. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119760 RAY,STEVE R. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119761 MEECHAM,W.J. 7.625 .200 7.425 .0400 7.385 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>
600119748 KOEPPEL,PETER S. 5800487 $3,625.35 01/01/1998 360
600119749 LAMBERT,CARTER E. 5800818 $2,005.96 01/01/1998 360
600119750 GIFFIN,JAMES P. 5800842 $2,665.06 01/01/1998 360
600119751 BEGG,JOHN R. 5801030 $2,541.69 01/01/1998 360
600119752 HUMPHRIES,TODD 5801097 $2,297.02 01/01/1998 360
600119753 DONG,ALLAN YUAN 5801121 $1,768.43 01/01/1998 360
600119754 PLAVCHAK,ROBERT J. 5801204 $4,116.43 01/01/1998 360
600119755 RENWICK,BRUCE ALAN 5801238 $2,100.53 01/01/1998 360
600119756 ANDREWS,ELIZABETH 5801410 $2,403.55 01/01/1998 360
600119757 CUTTS,SUZANNE E 5801444 $2,349.84 01/01/1998 360
600119758 WARSHAW,CHRIS J. 5801485 $1,805.36 01/01/1998 360
600119759 NIJMEH,OSAMA E. 5801501 $1,719.39 01/01/1998 360
600119760 RAY,STEVE R. 5801659 $4,355.79 01/01/1998 360
600119761 MEECHAM,W.J. 5801667 $3,596.41 01/01/1998 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>
600119748 KOEPPEL,PETER S. $890,000.00 N
600119749 LAMBERT,CARTER E. $355,000.00 N
600119750 GIFFIN,JAMES P. $600,000.00 N
600119751 BEGG,JOHN R. $485,000.00 N
600119752 HUMPHRIES,TODD $396,000.00 N
600119753 DONG,ALLAN YUAN $312,325.00 N
600119754 PLAVCHAK,ROBERT J. $745,000.00 N
600119755 RENWICK,BRUCE ALAN $390,000.00 N
600119756 ANDREWS,ELIZABETH $450,000.00 N
600119757 CUTTS,SUZANNE E $430,000.00 N
600119758 WARSHAW,CHRIS J. $415,000.00 N
600119759 NIJMEH,OSAMA E. $485,000.00 N
600119760 RAY,STEVE R. $766,000.00 N
600119761 MEECHAM,W.J. $510,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 16
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119762 LEFEBVRE,WARREN 15 CHATAHAM COURT NEWPORT BEACH CA 92660 $649,517.60
600119763 RAU, III,RALPH E. 2528 PALM DRIVE HERMOSA BEACH CA 90254 $270,616.22
600119764 GILBERT, JR.,JOHN M. 1401 MIRAMAR DRIVE FULLERTON CA 92831 $420,818.07
600119765 RAMSDEN,JOHN D. 3409 PIN OAK COURT SAN JOSE CA 95148 $254,344.45
600119766 FLATLEY,KATHERINE SBICCA 18821 CABERNET DRIVE SARATOGA CA 95070 $299,575.15
600119767 SPARKS,RICHARD B. 5928 BEAUMONT AVENUE LA JOLLA CA 92037 $443,371.22
600119768 QUON,TILTON M. 937 SPRING WATER STREET DANVILLE CA 94506 $359,490.18
600119769 CAVAGNARO,GLENN 3644 MAY STREET LOS ANGELES CA 90066 $332,528.41
600119770 HRONICEK,RICHARD A. 1105 MAGNOLIA LANE LAFAYETTE CA 94549 $300,584.34
600119771 SHAFRON,SHELLY JAY 32167 SAILVIEW LANE WESTLAKE VILLAG CA 91361 $281,119.93
600119772 LEWANDOWSKI,JAMES R. 444 HUDSON STREET REDWOOD CITY CA 94062 $229,829.30
600119773 CARICO,CHRISTOPHER D. 1650 22ND STREET MANHATTAN BEACH CA 90266 $250,644.54
600119774 NIEMI,TIMOTHY J. 368 EL PORTAL WAY SAN JOSE CA 95123 $239,031.17
600119775 PERT,TIMOTHY J. 211 CALLE MARINA SAN CLEMENTE CA 92672 $307,030.59
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119762 LEFEBVRE,WARREN 7.500 .200 7.300 .0400 7.260 12/01/2027
600119763 RAU, III,RALPH E. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119764 GILBERT, JR.,JOHN M. 7.875 .200 7.675 .0400 7.635 11/01/2027
600119765 RAMSDEN,JOHN D. 7.875 .200 7.675 .0400 7.635 11/01/2027
600119766 FLATLEY,KATHERINE SBICCA 7.750 .200 7.550 .0400 7.510 11/01/2027
600119767 SPARKS,RICHARD B. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119768 QUON,TILTON M. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119769 CAVAGNARO,GLENN 7.750 .200 7.550 .0400 7.510 11/01/2027
600119770 HRONICEK,RICHARD A. 7.875 .200 7.675 .0400 7.635 11/01/2027
600119771 SHAFRON,SHELLY JAY 7.125 .200 6.925 .0400 6.885 12/01/2012
600119772 LEWANDOWSKI,JAMES R. 7.500 .200 7.300 .0400 7.260 12/01/2027
600119773 CARICO,CHRISTOPHER D. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119774 NIEMI,TIMOTHY J. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119775 PERT,TIMOTHY J. 7.375 .200 7.175 .0400 7.135 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>
600119762 LEFEBVRE,WARREN 5801675 $4,544.90 01/01/1998 360
600119763 RAU, III,RALPH E. 5801741 $1,941.48 01/01/1998 360
600119764 GILBERT, JR.,JOHN M. 5801824 $3,055.45 01/01/1998 360
600119765 RAMSDEN,JOHN D. 5801899 $1,848.93 01/01/1998 360
600119766 FLATLEY,KATHERINE SBICCA 5802079 $2,149.24 01/01/1998 360
600119767 SPARKS,RICHARD B. 5802129 $3,180.88 01/01/1998 360
600119768 QUON,TILTON M. 5802194 $2,579.09 01/01/1998 360
600119769 CAVAGNARO,GLENN 5802244 $2,385.66 01/01/1998 360
600119770 HRONICEK,RICHARD A. 5802368 $2,182.46 01/01/1998 360
600119771 SHAFRON,SHELLY JAY 5802376 $2,554.45 01/01/1998 180
600119772 LEWANDOWSKI,JAMES R. 5802400 $1,608.20 01/01/1998 360
600119773 CARICO,CHRISTOPHER D. 5802434 $1,798.20 01/01/1998 360
600119774 NIEMI,TIMOTHY J. 5802491 $1,713.66 01/01/1998 360
600119775 PERT,TIMOTHY J. 5802566 $2,123.83 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119762 LEFEBVRE,WARREN $925,000.00 N
600119763 RAU, III,RALPH E. $457,000.00 N
600119764 GILBERT, JR.,JOHN M. $555,000.00 N
600119765 RAMSDEN,JOHN D. $320,000.00 N
600119766 FLATLEY,KATHERINE SBICCA $800,000.00 N
600119767 SPARKS,RICHARD B. $585,000.00 N
600119768 QUON,TILTON M. $460,000.00 N
600119769 CAVAGNARO,GLENN $475,000.00 N
600119770 HRONICEK,RICHARD A. $430,000.00 N
600119771 SHAFRON,SHELLY JAY $385,000.00 N
600119772 LEWANDOWSKI,JAMES R. $295,000.00 N
600119773 CARICO,CHRISTOPHER D. $380,000.00 N
600119774 NIEMI,TIMOTHY J. $299,000.00 N
600119775 PERT,TIMOTHY J. $397,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 17
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119776 PERT,JOHN 406 AVENIDA CRESPI SAN CLEMENTE CA 92672 $297,245.55
600119777 KIUCHI,RAYMOND S. 173 ARCHER DRIVE SANTA CRUZ CA 95060 $292,257.17
600119778 JAMES,EBENEZER 45259 GRIMMER BOULEVAR FREMONT CA 94539 $299,175.71
600119779 VITALE,ROBERT J. 5 OSPREY COURT PLAINSBORO TOWN NJ 08536 $384,147.89
600119780 PARK,KUN HONG 27977 BEECHGATE DRIVE RANCHO PALOS VE CA 90275 $398,725.41
600119781 NEMROW,PAUL 245 HOFFMAN SAN FRANCISCO CA 94114 $301,881.61
600119782 BROWN,RICHARD S. 1 CRANSTON COURT WEST WINDSOR NJ 08550 $293,898.04
600119783 REICHMAN,KENNETH WILLIAM 6647 COLGATE AVENUE LOS ANGELES CA 90048 $279,407.58
600119784 ERENO JR.,ERNEST J. 155 LAGUNITAS COURT APTOS CA 95003 $447,365.56
600119785 BENNETT,BRUCE W. 1700 EAST BALBOA NEWPORT BEACH CA 92661 $334,769.45
600119786 SOBOLL,JODI 21848 CORTE MADERA LANE CUPERTINO CA 95014 $374,260.94
600119787 ROWETT,KENT M. 28 LA CUESTA DRIVE GREENBRAE CA 94904 $388,756.14
600119788 HOFINGA,TYLER H. 114 MEADOW LANE ORINDA CA 94563 $610,783.18
600119789 PIERCE,ROBERT D. 3524 S OLYMPIC COURT PLEASANTON CA 94588 $259,557.87
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119776 PERT,JOHN 7.375 .200 7.175 .0400 7.135 11/01/2027
600119777 KIUCHI,RAYMOND S. 7.750 .200 7.550 .0400 7.510 11/01/2012
600119778 JAMES,EBENEZER 7.750 .200 7.550 .0400 7.510 11/01/2027
600119779 VITALE,ROBERT J. 7.250 .200 7.050 .0400 7.010 11/01/2027
600119780 PARK,KUN HONG 7.875 .200 7.675 .0400 7.635 12/01/2027
600119781 NEMROW,PAUL 7.875 .200 7.675 .0400 7.635 11/01/2027
600119782 BROWN,RICHARD S. 7.250 .200 7.050 .0400 7.010 11/01/2017
600119783 REICHMAN,KENNETH WILLIAM 7.875 .200 7.675 .0400 7.635 12/01/2027
600119784 ERENO JR.,ERNEST J. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119785 BENNETT,BRUCE W. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119786 SOBOLL,JODI 7.875 .200 7.675 .0400 7.635 12/01/2027
600119787 ROWETT,KENT M. 6.875 .200 6.675 .0400 6.635 12/01/2012
600119788 HOFINGA,TYLER H. 7.625 .200 7.425 .0400 7.385 11/01/2027
600119789 PIERCE,ROBERT D. 8.125 .700 7.425 .0400 7.385 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>
600119776 PERT,JOHN 5802582 $2,056.14 01/01/1998 360
600119777 KIUCHI,RAYMOND S. 5802665 $2,767.36 01/01/1998 180
600119778 JAMES,EBENEZER 5803127 $2,146.38 01/01/1998 360
600119779 VITALE,ROBERT J. 5803168 $2,624.68 19 01/01/1998 360
600119780 PARK,KUN HONG 5803341 $2,893.03 01/01/1998 360
600119781 NEMROW,PAUL 5803374 $2,193.34 01/01/1998 360
600119782 BROWN,RICHARD S. 5803408 $2,331.61 01/01/1998 240
600119783 REICHMAN,KENNETH WILLIAM 5803614 $2,027.30 01/01/1998 360
600119784 ERENO JR.,ERNEST J. 5803622 $3,209.53 01/01/1998 360
600119785 BENNETT,BRUCE W. 5803655 $2,428.99 01/01/1998 360
600119786 SOBOLL,JODI 5803747 $2,719.02 01/01/1998 360
600119787 ROWETT,KENT M. 5803812 $3,478.24 01/01/1998 180
600119788 HOFINGA,TYLER H. 5803846 $4,338.78 01/01/1998 360
600119789 PIERCE,ROBERT D. 5803861 $1,931.24 3 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119776 PERT,JOHN $400,000.00 N
600119777 KIUCHI,RAYMOND S. $380,000.00 N
600119778 JAMES,EBENEZER $405,000.00 N
600119779 VITALE,ROBERT J. $427,500.00 N
600119780 PARK,KUN HONG $500,000.00 N
600119781 NEMROW,PAUL $460,000.00 N
600119782 BROWN,RICHARD S. $395,000.00 N
600119783 REICHMAN,KENNETH WILLIAM $385,000.00 N
600119784 ERENO JR.,ERNEST J. $636,000.00 N
600119785 BENNETT,BRUCE W. $470,000.00 N
600119786 SOBOLL,JODI $620,000.00 N
600119787 ROWETT,KENT M. $610,000.00 N
600119788 HOFINGA,TYLER H. $820,000.00 N
600119789 PIERCE,ROBERT D. $289,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 18
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119790 BARNETT,HARVEY L. 358 21ST PLACE SANTA MONICA CA 90402 $524,233.54
600119791 HOLMES,CHARLES E. 1277 JULI LYNN DRIVE SAN JOSE CA 95120 $290,799.73
600119792 SPLIVALO,JOHN 20966 ELBRIDGE COURT CASTRO VALLEY CA 94552 $323,151.79
600119793 KARASEK,RANDALL 3644 CODY COURT SANTA CLARA CA 95051 $295,591.24
600119794 SALJOUGHIAN,MANOUCHEHR 44 WANDEL DRIVE MORAGA CA 94556 $302,136.64
600119795 FAULKNER,JOHN C. 240 NORTH SANDRINGHA MORAGA CA 94556 $424,707.51
600119796 LAMPTON,SHARON L. 1441 OAKHURST AVENUE SAN CARLOS CA 94070 $292,793.20
600119797 LITCH,JOYCE M. 87 AMOROK WAY FREMONT CA 94539 $362,367.15
600119798 ADELSON,JEFFREY 724 MALABAR DRIVE CORONA DEL MAR CA 92625 $335,024.87
600119799 SCOTT, IV,EDWARD W. 2293 WESTMORELAND DRI SAN JOSE CA 95124 $334,525.57
600119800 LENNON,MARK C. 1815 BAYVIEW AVENUE BELMONT CA 94002 $263,813.67
600119801 MCGINNIS,MARC A. 1657 KLIPSPRINGER DRIVE SAN JOSE CA 95124 $288,396.56
600119802 PRICE,STEVEN H. 664 RADCLIFFE AVENUE PACIFIC PALISAD CA 90272 $549,160.41
600119803 KOHL,SUSAN P. 861 ILIFF STREET PACIFIC PALISAD CA 90272 $259,593.12
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119790 BARNETT,HARVEY L. 7.625 .200 7.425 .0400 7.385 11/01/2027
600119791 HOLMES,CHARLES E. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119792 SPLIVALO,JOHN 7.875 .200 7.675 .0400 7.635 11/01/2027
600119793 KARASEK,RANDALL 7.875 .200 7.675 .0400 7.635 11/01/2027
600119794 SALJOUGHIAN,MANOUCHEHR 7.875 .200 7.675 .0400 7.635 11/01/2027
600119795 FAULKNER,JOHN C. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119796 LAMPTON,SHARON L. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119797 LITCH,JOYCE M. 7.875 .200 7.675 .0400 7.635 11/01/2027
600119798 ADELSON,JEFFREY 7.750 .200 7.550 .0400 7.510 11/01/2027
600119799 SCOTT, IV,EDWARD W. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119800 LENNON,MARK C. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119801 MCGINNIS,MARC A. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119802 PRICE,STEVEN H. 7.375 .200 7.175 .0400 7.135 11/01/2027
600119803 KOHL,SUSAN P. 7.250 .200 7.050 .0400 7.010 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>
600119790 BARNETT,HARVEY L. 5803879 $3,715.92 01/01/1998 360
600119791 HOLMES,CHARLES E. 5803911 $2,109.96 01/01/1998 360
600119792 SPLIVALO,JOHN 5804018 $2,346.33 01/01/1998 360
600119793 KARASEK,RANDALL 5804026 $2,146.21 01/01/1998 360
600119794 SALJOUGHIAN,MANOUCHEHR 5804109 $2,196.97 01/01/1998 360
600119795 FAULKNER,JOHN C. 5804182 $3,081.55 01/01/1998 360
600119796 LAMPTON,SHARON L. 5804307 $2,099.09 01/01/1998 360
600119797 LITCH,JOYCE M. 5804463 $2,632.01 01/01/1998 360
600119798 ADELSON,JEFFREY 5804521 $2,403.57 01/01/1998 360
600119799 SCOTT, IV,EDWARD W. 5804653 $2,399.99 01/01/1998 360
600119800 LENNON,MARK C. 5804661 $1,891.33 01/01/1998 360
600119801 MCGINNIS,MARC A. 5804802 $2,095.46 01/01/1998 360
600119802 PRICE,STEVEN H. 5804828 $3,798.72 01/01/1998 360
600119803 KOHL,SUSAN P. 5804836 $1,773.66 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119790 BARNETT,HARVEY L. $1,100,000.00 N
600119791 HOLMES,CHARLES E. $410,000.00 N
600119792 SPLIVALO,JOHN $435,000.00 N
600119793 KARASEK,RANDALL $370,000.00 N
600119794 SALJOUGHIAN,MANOUCHEHR $425,000.00 N
600119795 FAULKNER,JOHN C. $555,000.00 N
600119796 LAMPTON,SHARON L. $410,000.00 N
600119797 LITCH,JOYCE M. $500,000.00 N
600119798 ADELSON,JEFFREY $560,000.00 N
600119799 SCOTT, IV,EDWARD W. $485,000.00 N
600119800 LENNON,MARK C. $340,000.00 N
600119801 MCGINNIS,MARC A. $405,000.00 N
600119802 PRICE,STEVEN H. $700,000.00 N
600119803 KOHL,SUSAN P. $975,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 19
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119804 BRYCE,RICHARD K 14430 SAND HILL ROAD POWAY CA 92064 $389,447.70
600119805 LEAVENS,RITA B. 612 DEL SOL AVENUE PLEASANTON CA 94566 $259,593.12
600119806 BROCKMANN,JAMES M.W. 938 JASMINE COURT CARLSBAD CA 92009 $258,333.64
600119807 CANNADY,SEAN 22925 KATHRYN AVENUE TORRANCE CA 90505 $238,812.63
600119808 KHAIRKHAHAN,ALEXANDER K. 1105 LINCOLN AVENUE PALO ALTO CA 94301 $469,668.28
600119809 DUGGAN,CHRISTOPHER 16345 MARTINCOIT POWAY CA 92064 $379,461.86
600119810 HALLAHAN,MICHAEL P. 1668 SORRENTO PLACE LIVERMORE CA 94550 $437,682.99
600119811 BURTON,WILLIAM G. 4709 ARLENE PLACE PLEASANTON CA 94566 $359,675.00
600119812 KOHANI,KAVEH 1034 LA JOLLA RANCHO ROAD LA JOLLA CA 92037 $360,924.86
600119813 ROONEY,BRIAN S. 4855 RADFORD AVENUE LOS ANGELES CA 91607 $417,112.75
600119814 HIRSHLAND,DAVID L. 2516 IVAN HILL TERRACE LOS ANGELES CA 90039 $236,345.29
600119815 KAHN,DAVID 1890 LEIMERT BOULEVARD OAKLAND CA 94602 $249,455.03
600119816 SCHUMACHER,DAVID 719 ANDERSON DRIVE LOS ALTOS CA 94022 $327,926.49
600119817 CLESEN,SEAN F. 11397 ROLLING HILLS DRIVE DUBLIN CA 94568 $307,505.92
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119804 BRYCE,RICHARD K 7.750 .200 7.550 .0400 7.510 11/01/2027
600119805 LEAVENS,RITA B. 7.250 .200 7.050 .0400 7.010 11/01/2027
600119806 BROCKMANN,JAMES M.W. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119807 CANNADY,SEAN 7.125 .200 6.925 .0400 6.885 11/01/2027
600119808 KHAIRKHAHAN,ALEXANDER K. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119809 DUGGAN,CHRISTOPHER 7.750 .200 7.550 .0400 7.510 11/01/2027
600119810 HALLAHAN,MICHAEL P. 7.625 .200 7.425 .0400 7.385 12/01/2027
600119811 BURTON,WILLIAM G. 7.250 .200 7.050 .0400 7.010 12/01/2027
600119812 KOHANI,KAVEH 7.875 .200 7.675 .0400 7.635 11/01/2027
600119813 ROONEY,BRIAN S. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119814 HIRSHLAND,DAVID L. 8.125 .200 7.925 .0400 7.885 12/01/2027
600119815 KAHN,DAVID 7.875 .200 7.675 .0400 7.635 11/01/2027
600119816 SCHUMACHER,DAVID 7.875 .200 7.675 .0400 7.635 11/01/2027
600119817 CLESEN,SEAN F. 7.125 .200 6.925 .0400 6.885 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>
600119804 BRYCE,RICHARD K 5804919 $2,794.01 01/01/1998 360
600119805 LEAVENS,RITA B. 5805049 $1,773.66 01/01/1998 360
600119806 BROCKMANN,JAMES M.W. 5805072 $1,853.36 19 01/01/1998 360
600119807 CANNADY,SEAN 5805106 $1,616.93 01/01/1998 360
600119808 KHAIRKHAHAN,ALEXANDER K. 5805122 $3,367.14 01/01/1998 360
600119809 DUGGAN,CHRISTOPHER 5805213 $2,722.37 01/01/1998 360
600119810 HALLAHAN,MICHAEL P. 5805452 $3,100.14 01/01/1998 360
600119811 BURTON,WILLIAM G. 5805494 $2,455.84 01/01/1998 360
600119812 KOHANI,KAVEH 5805692 $2,624.76 01/01/1998 360
600119813 ROONEY,BRIAN S. 5805940 $3,026.44 01/01/1998 360
600119814 HIRSHLAND,DAVID L. 5805973 $1,756.01 01/01/1998 360
600119815 KAHN,DAVID 5806013 $1,811.23 01/01/1998 360
600119816 SCHUMACHER,DAVID 5806112 $2,392.73 01/01/1998 360
600119817 CLESEN,SEAN F. 5806187 $2,075.06 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119804 BRYCE,RICHARD K $490,000.00 N
600119805 LEAVENS,RITA B. $325,000.00 N
600119806 BROCKMANN,JAMES M.W. $296,000.00 N
600119807 CANNADY,SEAN $300,000.00 N
600119808 KHAIRKHAHAN,ALEXANDER K. $730,000.00 N
600119809 DUGGAN,CHRISTOPHER $475,000.00 N
600119810 HALLAHAN,MICHAEL P. $585,000.00 N
600119811 BURTON,WILLIAM G. $450,000.00 N
600119812 KOHANI,KAVEH $600,000.00 N
600119813 ROONEY,BRIAN S. $525,000.00 N
600119814 HIRSHLAND,DAVID L. $330,000.00 N
600119815 KAHN,DAVID $340,000.00 N
600119816 SCHUMACHER,DAVID $565,000.00 N
600119817 CLESEN,SEAN F. $385,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 20
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119818 FRANZEN,DON ERIK 21162 ENTRADA ROAD TOPANGA CA 90290 $557,609.22
600119819 SHEFFER,CRAIG C. 4604 LEI STREET FAIR OAKS CA 95628 $251,826.57
600119820 BERMAN,GREGORY J. 13344 INWOOD DRIVE SHERMAN OAKS CA 91423 $430,541.75
600119821 PETERSON,JACK S 240 SANDRINGHAM COURT KNOXVILLE TN 37922 $325,990.81
600119822 CONROY,ROBERTA A. 2704 PACIFIC AVENUE MANHATTAN BEACH CA 90266 $394,397.02
600119823 SULLIVAN,KEVIN J. 1638 SWEETBRIAR DRIVE SAN JOSE CA 95125 $319,145.55
600119824 ROSE JR.,RUSSELL HOWARD 4544 LOMA VISTA DRIVE LA CANADA FLINT CA 91011 $280,806.61
600119825 GLASER,DAVID 2100 LEEWARD LANE NEWPORT BEACH CA 92660 $357,632.68
600119826 WOOD,DONALD F. 111 ISLAND DRIVE PALO ALTO CA 94301 $619,121.99
600119827 EDMAN,CAROLYN C. 6059 DUET COURT SAN JOSE CA 95120 $337,022.04
600119828 MALOWANY,ISREAL 5 BITTERN DRIVE NANUET NY 10954 $287,480.18
600119829 MELAND,DONALD A. 225 NORTH NORTON AVENUE LOS ANGELES CA 90004 $466,950.89
600119830 JURCZAK,THAD A. 29 STEEPLECHASE DR. HAWTHORN WOODS IL 60047 $258,812.54
600119831 CALDARA,CHRISTOPHER 395 EUREKA STREET SAN FRANCISCO CA 94114 $249,645.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119818 FRANZEN,DON ERIK 7.750 .200 7.550 .0400 7.510 11/01/2027
600119819 SHEFFER,CRAIG C. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119820 BERMAN,GREGORY J. 7.375 .200 7.175 .0400 7.135 11/01/2027
600119821 PETERSON,JACK S 7.375 .200 7.175 .0400 7.135 11/01/2012
600119822 CONROY,ROBERTA A. 7.375 .200 7.175 .0400 7.135 11/01/2027
600119823 SULLIVAN,KEVIN J. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119824 ROSE JR.,RUSSELL HOWARD 7.875 .200 7.675 .0400 7.635 12/01/2027
600119825 GLASER,DAVID 7.750 .200 7.550 .0400 7.510 11/01/2027
600119826 WOOD,DONALD F. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119827 EDMAN,CAROLYN C. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119828 MALOWANY,ISREAL 7.500 .200 7.300 .0400 7.260 11/01/2027
600119829 MELAND,DONALD A. 7.500 .200 7.300 .0400 7.260 11/01/2027
600119830 JURCZAK,THAD A. 7.625 .200 7.425 .0400 7.385 12/01/2027
600119831 CALDARA,CHRISTOPHER 7.750 .200 7.550 .0400 7.510 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>
600119818 FRANZEN,DON ERIK 5806872 $4,000.45 01/01/1998 360
600119819 SHEFFER,CRAIG C. 5807086 $1,827.18 01/01/1998 360
600119820 BERMAN,GREGORY J. 5807201 $2,978.20 01/01/1998 360
600119821 PETERSON,JACK S 5807250 $3,017.35 01/01/1998 180
600119822 CONROY,ROBERTA A. 5807318 $2,728.17 01/01/1998 360
600119823 SULLIVAN,KEVIN J. 5807367 $2,292.52 01/01/1998 360
600119824 ROSE JR.,RUSSELL HOWARD 5807730 $2,037.45 01/01/1998 360
600119825 GLASER,DAVID 5807839 $2,571.92 01/01/1998 360
600119826 WOOD,DONALD F. 5807847 $4,441.76 01/01/1998 360
600119827 EDMAN,CAROLYN C. 5808076 $2,417.90 01/01/1998 360
600119828 MALOWANY,ISREAL 5809082 $2,027.72 01/01/1998 360
600119829 MELAND,DONALD A. 5810064 $3,272.33 01/01/1998 360
600119830 JURCZAK,THAD A. 5810296 $1,833.19 01/01/1998 360
600119831 CALDARA,CHRISTOPHER 5810767 $1,791.04 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119818 FRANZEN,DON ERIK $698,000.00 N
600119819 SHEFFER,CRAIG C. $320,000.00 N
600119820 BERMAN,GREGORY J. $539,000.00 N
600119821 PETERSON,JACK S $410,000.00 N
600119822 CONROY,ROBERTA A. $595,000.00 N
600119823 SULLIVAN,KEVIN J. $490,000.00 N
600119824 ROSE JR.,RUSSELL HOWARD $400,000.00 N
600119825 GLASER,DAVID $615,000.00 N
600119826 WOOD,DONALD F. $1,530,000.00 N
600119827 EDMAN,CAROLYN C. $450,000.00 N
600119828 MALOWANY,ISREAL $365,184.00 N
600119829 MELAND,DONALD A. $585,000.00 N
600119830 JURCZAK,THAD A. $370,000.00 N
600119831 CALDARA,CHRISTOPHER $435,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 21
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119832 PALMER,GEORGE G.L. 1844 LEADENWAH DR. WADMALAW ISLAND SC 29487 $259,802.16
600119834 ENGERT,ERIC 52 ALTA VISTA AVENUE SAN ANSELMO CA 94960 $517,817.20
600119835 APOSTLE II,JOHN G. 13432 COLLEGE VALLEY LN RICHMOND VA 23233 $249,426.86
600119836 BARTLETT,RONALD S. 11229 SUNSHINE TERRACE LOS ANGELES CA 91604 $259,151.32
600119837 TUCK JR.,WILLIAM H. 436 ALMANOR AVENUE SOUTH SAN FRANC CA 94080 $279,002.95
600119838 MAYNARD,GORDON L. 979 EAST TOPEKA STREET PASADENA CA 91104 $282,784.65
600119839 NIATAS,JASON 10 MANETTE ROAD MORRIS TOWNSHIP NJ 07960 $369,213.06
600119840 MILISA,LIZ A. 204 LINCOLN HUNTINGTON BEAC CA 92646 $254,001.88
600119841 ANSORGE,MARK 15420 HAMNER DRIVE LOS ANGELES CA 90077 $590,782.74
600119842 PLOCK III,HENRY J 7015 EARLDOM STREET PLAYA DEL REY CA 90293 $242,629.04
600119843 SUARES,PETER D. 425 COVINGTON ROAD LOS ALTOS CA 94024 $473,727.33
600119844 BRETTLER,JEFFREY W. 816 BRONZE LANE LOS ANGELES CA 90049 $557,169.17
600119845 LEWIS,KATHRYN C. 476 O'CONNOR STREET MENLO PARK CA 94025 $256,981.13
600119846 MITTLEBUSHER,EDWIN 556 LOSSE COURT SAN JOSE CA 95110 $399,687.96
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119832 PALMER,GEORGE G.L. 7.375 .200 7.175 .0400 7.135 12/01/2027
600119834 ENGERT,ERIC 7.625 .200 7.425 .0400 7.385 12/01/2027
600119835 APOSTLE II,JOHN G. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119836 BARTLETT,RONALD S. 7.375 .200 7.175 .0400 7.135 11/01/2027
600119837 TUCK JR.,WILLIAM H. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119838 MAYNARD,GORDON L. 7.375 .200 7.175 .0400 7.135 12/01/2027
600119839 NIATAS,JASON 7.625 .200 7.425 .0400 7.385 11/01/2027
600119840 MILISA,LIZ A. 7.250 .200 7.050 .0400 7.010 11/01/2027
600119841 ANSORGE,MARK 7.750 .200 7.550 .0400 7.510 12/01/2027
600119842 PLOCK III,HENRY J 7.375 .200 7.175 .0400 7.135 11/01/2027
600119843 SUARES,PETER D. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119844 BRETTLER,JEFFREY W. 7.500 .200 7.300 .0400 7.260 11/01/2027
600119845 LEWIS,KATHRYN C. 7.125 .200 6.925 .0400 6.885 11/01/2012
600119846 MITTLEBUSHER,EDWIN 7.250 .200 7.050 .0400 7.010 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>
600119832 PALMER,GEORGE G.L. 5811088 $1,795.76 01/01/1998 360
600119834 ENGERT,ERIC 5812201 $3,668.50 01/01/1998 360
600119835 APOSTLE II,JOHN G. 5812599 $1,824.28 2 01/01/1998 360
600119836 BARTLETT,RONALD S. 5813183 $1,817.86 01/01/1998 360
600119837 TUCK JR.,WILLIAM H. 5813415 $2,000.23 01/01/1998 360
600119838 MAYNARD,GORDON L. 5813647 $1,954.62 01/01/1998 360
600119839 NIATAS,JASON 5813761 $2,617.07 7 01/01/1998 360
600119840 MILISA,LIZ A. 5813894 $1,735.46 01/01/1998 360
600119841 ANSORGE,MARK 5814025 $4,235.43 01/01/1998 360
600119842 PLOCK III,HENRY J 5814058 $1,678.35 99 01/01/1998 360
600119843 SUARES,PETER D. 5814181 $3,402.96 01/01/1998 360
600119844 BRETTLER,JEFFREY W. 5814215 $3,901.62 01/01/1998 360
600119845 LEWIS,KATHRYN C. 5814249 $2,342.48 01/01/1998 180
600119846 MITTLEBUSHER,EDWIN 5814348 $2,728.71 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119832 PALMER,GEORGE G.L. $655,000.00 N
600119834 ENGERT,ERIC $650,000.00 N
600119835 APOSTLE II,JOHN G. $296,000.00 N
600119836 BARTLETT,RONALD S. $329,000.00 N
600119837 TUCK JR.,WILLIAM H. $349,000.00 N
600119838 MAYNARD,GORDON L. $360,000.00 N
600119839 NIATAS,JASON $435,000.00 N
600119840 MILISA,LIZ A. $318,000.00 N
600119841 ANSORGE,MARK $739,000.00 N
600119842 PLOCK III,HENRY J $270,000.00 N
600119843 SUARES,PETER D. $875,000.00 N
600119844 BRETTLER,JEFFREY W. $950,000.00 N
600119845 LEWIS,KATHRYN C. $430,000.00 N
600119846 MITTLEBUSHER,EDWIN $544,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 22
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119847 KRISTOVICH,STEPHEN M. 14963 ALTATA DRIVE PACIFIC PALISAD CA 90272 $983,940.86
600119848 SHORB,RONALD C. 9008 BELMART ROAD POTOMAC MD 20854 $644,009.17
600119849 DELISE,ANTONIO L. 203 SHELTER ROCK ROAD FAIRFIELD CT 06432 $243,401.68
600119850 COSTLEY,JOHN 2000 WILT FALLBROOK CA 92028 $262,899.83
600119851 PEPE,LORI J. 2466 PRINCE STREET BERKELEY CA 94705 $263,827.30
600119852 YAMATO,JUNPEI 28528 LEACREST DRIVE RANCHO PALOS VE CA 90275 $299,542.04
600119853 HOVERSTOCK,RICHARD D. 44649 PARKMEADOW DRIVE FREMONT CA 94539 $334,525.57
600119854 DEL TORTO,JOSEPH 160 HUBBARD AVENUE STAMFORD CT 06902 $298,905.84
600119855 PRATT,ALLAN K. 844 TRENTON DRIVE SUNNYVALE CA 94087 $325,775.65
600119856 EAMES,RICHARD W. 3738 MOUNTAIN VIEW AVENUE LOS ANGELES CA 90066 $249,504.97
600119857 MCSORLEY,JOHN 76 MONCADA WAY SAN RAFAEL CA 94901 $630,066.09
600119858 WHITE JR,COLLEEN J & WILL 15524 DE LA CRUZ DRIVE SLOUGHHOUSE CA 95683 $399,717.68
600119859 BRODY,PHILLIP 4211 ELZEVIR ROAD WOODLAND HILLS CA 91364 $254,407.34
600119860 NGUYEN,CHUCK 32411 MONTEREY DRIVE UNION CITY CA 94587 $292,241.94
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119847 KRISTOVICH,STEPHEN M. 7.500 .200 7.300 .0400 7.260 11/01/2012
600119848 SHORB,RONALD C. 7.375 .200 7.175 .0400 7.135 10/01/2012
600119849 DELISE,ANTONIO L. 6.750 .200 6.550 .0400 6.510 11/01/2012
600119850 COSTLEY,JOHN 7.750 .200 7.550 .0400 7.510 12/01/2027
600119851 PEPE,LORI J. 8.125 .200 7.925 .0400 7.885 12/01/2027
600119852 YAMATO,JUNPEI 7.375 .200 7.175 .0400 7.135 11/01/2027
600119853 HOVERSTOCK,RICHARD D. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119854 DEL TORTO,JOSEPH 7.875 .200 7.675 .0400 7.635 11/01/2027
600119855 PRATT,ALLAN K. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119856 EAMES,RICHARD W. 7.250 .200 7.050 .0400 7.010 12/01/2027
600119857 MCSORLEY,JOHN 7.875 .200 7.675 .0400 7.635 12/01/2027
600119858 WHITE JR,COLLEEN J & WILL 7.750 .200 7.550 .0400 7.510 12/01/2027
600119859 BRODY,PHILLIP 7.375 .200 7.175 .0400 7.135 11/01/2012
600119860 NGUYEN,CHUCK 7.250 .200 7.050 .0400 7.010 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>
600119847 KRISTOVICH,STEPHEN M. 5814405 $9,270.13 01/01/1998 180
600119848 SHORB,RONALD C. 5814462 $5,979.51 01/01/1998 180
600119849 DELISE,ANTONIO L. 5814579 $2,168.03 01/01/1998 180
600119850 COSTLEY,JOHN 5814603 $1,885.60 01/01/1998 360
600119851 PEPE,LORI J. 5815428 $1,960.20 01/01/1998 360
600119852 YAMATO,JUNPEI 5815964 $2,072.03 01/01/1998 360
600119853 HOVERSTOCK,RICHARD D. 5816053 $2,399.99 01/01/1998 360
600119854 DEL TORTO,JOSEPH 5816079 $2,320.23 01/01/1998 360
600119855 PRATT,ALLAN K. 5816285 $2,363.73 01/01/1998 360
600119856 EAMES,RICHARD W. 5816673 $1,705.45 01/01/1998 360
600119857 MCSORLEY,JOHN 5816897 $4,571.57 01/01/1998 360
600119858 WHITE JR,COLLEEN J & WILL 5816947 $2,865.65 01/01/1998 360
600119859 BRODY,PHILLIP 5817176 $2,391.81 01/01/1998 180
600119860 NGUYEN,CHUCK 5817515 $1,996.74 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119847 KRISTOVICH,STEPHEN M. $1,600,000.00 N
600119848 SHORB,RONALD C. $1,200,000.00 N
600119849 DELISE,ANTONIO L. $335,000.00 N
600119850 COSTLEY,JOHN $329,000.00 N
600119851 PEPE,LORI J. $330,000.00 N
600119852 YAMATO,JUNPEI $440,000.00 N
600119853 HOVERSTOCK,RICHARD D. $640,000.00 N
600119854 DEL TORTO,JOSEPH $400,000.00 N
600119855 PRATT,ALLAN K. $450,000.00 N
600119856 EAMES,RICHARD W. $498,000.00 N
600119857 MCSORLEY,JOHN $1,035,000.00 N
600119858 WHITE JR,COLLEEN J & WILL $570,000.00 N
600119859 BRODY,PHILLIP $325,000.00 N
600119860 NGUYEN,CHUCK $365,888.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 23
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119861 VINSON, JR.,JOHN THOMAS 350 LOS ALTOS DRIVE APTOS CA 95003 $359,745.91
600119862 HOURET,MARIE C. 5691 MIREILLE DRIVE SAN JOSE CA 95118 $274,600.65
600119863 WITT,DALE L. 394 NEWCASTLE DR REDWOOD CITY CA 94061 $284,596.39
600119864 PHILLIPS,GREG 89 MELVILLE AVENUE SAN ANSELMO CA 94960 $417,166.13
600119865 REMAS,WILLIAM A. 62 CORNELL AVENUE LARKSPUR CA 94939 $369,352.07
600119866 RECTENWALD,GARY M. 2067 CAMINITO CAPA LA JOLLA CA 92037 $298,605.35
600119867 YUAN,TIMOTHY S 8552 NAPLES DRIVE HUNTINGTON BEAC CA 92646 $270,007.33
600119868 FORMAN,STEVEN R. 818 NOWITA PLACE LOS ANGELES CA 90291 $455,678.16
600119869 FETTERMAN,HAROLD 545 12TH STREET SANTA MONICA CA 90402 $399,389.37
600119870 ORFEI,STEPHEN 12 MANOR LANE KATONAH NY 10536 $289,662.36
600119871 SHORE,JEFFREY L. 1905 EDGEWOOD ROAD PALO ALTO CA 94301 $459,348.57
600119872 CHRISTENSEN,JENS 601 TWELVE ACRES DRIVE LOS ALTOS CA 94022 $525,072.26
600119873 MACLEAN,SUSAN D. 554 LOS NINOS WAY LOS ALTOS CA 94022 $550,219.69
600119874 FASULLO,PAUL BERNARD 19062 EAST PINNACLE CIRCL BATON ROUGE LA 70810 $303,956.98
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119861 VINSON, JR.,JOHN THOMAS 7.750 .200 7.550 .0400 7.510 12/01/2027
600119862 HOURET,MARIE C. 7.625 .200 7.425 .0400 7.385 11/01/2027
600119863 WITT,DALE L. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119864 PHILLIPS,GREG 7.125 .200 6.925 .0400 6.885 12/01/2027
600119865 REMAS,WILLIAM A. 7.750 .200 7.550 .0400 7.510 12/01/2017
600119866 RECTENWALD,GARY M. 7.625 .200 7.425 .0400 7.385 12/01/2012
600119867 YUAN,TIMOTHY S 7.625 .200 7.425 .0400 7.385 11/01/2027
600119868 FORMAN,STEVEN R. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119869 FETTERMAN,HAROLD 7.375 .200 7.175 .0400 7.135 11/01/2027
600119870 ORFEI,STEPHEN 7.000 .200 6.800 .0400 6.760 12/01/2027
600119871 SHORE,JEFFREY L. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119872 CHRISTENSEN,JENS 7.875 .200 7.675 .0400 7.635 11/01/2027
600119873 MACLEAN,SUSAN D. 7.750 .200 7.550 .0400 7.510 11/01/2027
600119874 FASULLO,PAUL BERNARD 7.500 .200 7.300 .0400 7.260 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>
600119861 VINSON, JR.,JOHN THOMAS 5817853 $2,579.09 01/01/1998 360
600119862 HOURET,MARIE C. 5818000 $1,946.44 01/01/1998 360
600119863 WITT,DALE L. 5818034 $2,041.78 01/01/1998 360
600119864 PHILLIPS,GREG 5818091 $2,812.78 01/01/1998 360
600119865 REMAS,WILLIAM A. 5818323 $3,037.51 01/01/1998 240
600119866 RECTENWALD,GARY M. 5818430 $2,797.72 01/01/1998 180
600119867 YUAN,TIMOTHY S 5818539 $1,913.88 01/01/1998 360
600119868 FORMAN,STEVEN R. 5818836 $3,266.84 01/01/1998 360
600119869 FETTERMAN,HAROLD 5818869 $2,762.71 01/01/1998 360
600119870 ORFEI,STEPHEN 5819065 $1,928.72 01/01/1998 360
600119871 SHORE,JEFFREY L. 5819131 $3,295.50 01/01/1998 360
600119872 CHRISTENSEN,JENS 5819156 $3,821.12 01/01/1998 360
600119873 MACLEAN,SUSAN D. 5819164 $3,947.44 01/01/1998 360
600119874 FASULLO,PAUL BERNARD 5820634 $2,129.11 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119861 VINSON, JR.,JOHN THOMAS $450,000.00 N
600119862 HOURET,MARIE C. $490,000.00 N
600119863 WITT,DALE L. $531,000.00 N
600119864 PHILLIPS,GREG $665,000.00 N
600119865 REMAS,WILLIAM A. $500,000.00 N
600119866 RECTENWALD,GARY M. $557,000.00 N
600119867 YUAN,TIMOTHY S $340,000.00 N
600119868 FORMAN,STEVEN R. $600,000.00 N
600119869 FETTERMAN,HAROLD $750,500.00 N
600119870 ORFEI,STEPHEN $539,900.00 N
600119871 SHORE,JEFFREY L. $590,000.00 N
600119872 CHRISTENSEN,JENS $910,000.00 N
600119873 MACLEAN,SUSAN D. $720,000.00 N
600119874 FASULLO,PAUL BERNARD $406,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 24
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119875 DELL,KENT D 1131 GRAND STREET REDWOOD CITY CA 94061 $295,861.11
600119876 FELICIANO,MICHAEL 3615 GARRISON STREET SAN DIEGO CA 92106 $299,771.72
600119877 STRONG,CHARLES D 3006 MOUNTAIN RIDGE CT PARK CITY UT 84060 $646,018.38
600119878 WHITEFIELD,FREDRIC B. 54 COLORADO AVENUE BERKELEY CA 94707 $282,589.04
600119879 FINAMORE III,THEODORE 5720 TELLEFSON ROAD CULVER CITY CA 90230 $264,639.58
600119880 FITZGERALD,JOHN G 36 SALISBURY ROAD NEWTON MA 02158 $259,021.62
600119881 CASTLE,GREGORY J. 2894 LONE JACK ROAD ENCINITAS CA 92024 $374,333.97
600119882 DEM,AARON 2550 PROSSER AVENUE LOS ANGELES CA 90064 $342,289.59
600119883 OFFENBERG,WILLIAM E. 130 TIDE AVENUE MONTEREY CA 93940 $498,387.95
600119884 PUNTURO,BRYAN 439 CARIBBEAN DRIVE KEY LARGO FL 33037 $284,120.22
600119885 MIURA,GARY C 7835 WEST 79TH STREET LOS ANGELES CA 90293 $547,583.02
600119886 JOHNSON,ERNEST L. 3031 NORTHEAST 40TH COURT FORT LAUDERDALE FL 33308 $343,757.21
600119887 LIAO,JULIE Z. 195 MONROE DRIVE PALO ALTO CA 94306 $427,666.11
600119888 NOE,WILMER A 20811 NORTHEAST 179TH COU BATTLE GROUND WA 98604 $233,205.02
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119875 DELL,KENT D 8.125 .200 7.925 .0400 7.885 11/01/2027
600119876 FELICIANO,MICHAEL 7.375 .200 7.175 .0400 7.135 12/01/2027
600119877 STRONG,CHARLES D 7.375 .200 7.175 .0400 7.135 11/01/2012
600119878 WHITEFIELD,FREDRIC B. 7.625 .200 7.425 .0400 7.385 11/01/2027
600119879 FINAMORE III,THEODORE 8.500 .200 8.300 .0400 8.260 12/01/2027
600119880 FITZGERALD,JOHN G 7.875 .200 7.675 .0400 7.635 12/01/2027
600119881 CASTLE,GREGORY J. 7.375 .200 7.175 .0400 7.135 11/01/2027
600119882 DEM,AARON 7.500 .200 7.300 .0400 7.260 11/01/2027
600119883 OFFENBERG,WILLIAM E. 6.750 .200 6.550 .0400 6.510 12/01/2012
600119884 PUNTURO,BRYAN 7.250 .200 7.050 .0400 7.010 12/01/2012
600119885 MIURA,GARY C 7.375 .200 7.175 .0400 7.135 12/01/2027
600119886 JOHNSON,ERNEST L. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119887 LIAO,JULIE Z. 7.250 .200 7.050 .0400 7.010 12/01/2027
600119888 NOE,WILMER A 7.375 .200 7.175 .0400 7.135 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>
600119875 DELL,KENT D 5821145 $2,199.65 01/01/1998 360
600119876 FELICIANO,MICHAEL 5821814 $2,072.03 01/01/1998 360
600119877 STRONG,CHARLES D 5821897 $5,979.51 01/01/1998 180
600119878 WHITEFIELD,FREDRIC B. 5822671 $2,003.06 01/01/1998 360
600119879 FINAMORE III,THEODORE 5823802 $2,036.09 01/01/1998 360
600119880 FITZGERALD,JOHN G 5825294 $1,879.38 14 01/01/1998 360
600119881 CASTLE,GREGORY J. 5826177 $2,590.04 01/01/1998 360
600119882 DEM,AARON 5826847 $2,396.91 19 01/01/1998 360
600119883 OFFENBERG,WILLIAM E. 5826862 $4,424.55 01/01/1998 180
600119884 PUNTURO,BRYAN 5827043 $2,601.66 01/01/1998 180
600119885 MIURA,GARY C 5829288 $3,784.90 01/01/1998 360
600119886 JOHNSON,ERNEST L. 5829619 $2,464.46 01/01/1998 360
600119887 LIAO,JULIE Z. 5829643 $2,919.72 01/01/1998 360
600119888 NOE,WILMER A 5830005 $1,615.49 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119875 DELL,KENT D $395,000.00 N
600119876 FELICIANO,MICHAEL $465,000.00 N
600119877 STRONG,CHARLES D $1,100,000.00 N
600119878 WHITEFIELD,FREDRIC B. $360,000.00 N
600119879 FINAMORE III,THEODORE $335,000.00 N
600119880 FITZGERALD,JOHN G $305,000.00 N
600119881 CASTLE,GREGORY J. $520,000.00 N
600119882 DEM,AARON $381,000.00 N
600119883 OFFENBERG,WILLIAM E. $715,000.00 N
600119884 PUNTURO,BRYAN $360,000.00 N
600119885 MIURA,GARY C $685,000.00 N
600119886 JOHNSON,ERNEST L. $430,000.00 N
600119887 LIAO,JULIE Z. $536,000.00 N
600119888 NOE,WILMER A $259,900.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 25
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119889 TE,ALEXANDER A 3145 TEDDINGTON DRIVE SAN JOSE CA 95148 $242,664.44
600119890 ROSENTHAL,DOROTHY L. 16 CHRIS ELIOT COURT COCKEYSVILLE HU MD 21030 $584,597.40
600119891 WONDERLY,MICHAEL 335 JOOST AVENUE SAN FRANCISCO CA 94131 $249,419.34
600119892 SIKORA,JAMES J 1561 ROSECREST TERR SAN JOSE CA 95126 $392,729.54
600119894 EISELE,ANDREW C. 176 WEST STREET WHITE PLAINS NY 10605 $269,809.44
600119895 NGUYEN,LOAN NGOC 2968 MERIDIAN AVENUE SAN JOSE CA 95124 $246,825.67
600119896 VON MASSENHAUSEN,ARNOLD 1753 MARLYN WAY SAN JOSE CA 95125 $363,466.24
600119897 BLANKE,PAUL S. 340 SUMMIT DRIVE REDWOOD CITY CA 94062 $383,798.48
600119898 BOWES,GERALD L 773 FOXRIDGE PLACE SAN JOSE CA 95133 $299,575.15
600119899 LI,HONG 48 FIELDSTONE ROAD CITY OF STAMFOR CT 06905 $329,767.08
600119900 DUFFY,ROBERT 1175 E. MOUNTAIN DRIVE MONTECITO CA 93108 $628,033.89
600119901 GROSSMAN,GEORGE L. 13981 SUMMIT DRIVE WHITTIER CA 90602 $483,151.56
600119902 FARLEY,KEITH W. 1524 VIRGINIA AVENUE GLENDALE CA 91202 $308,662.02
600119903 O'FARRELL,WILLIAM E 11 DEVONSHIRE DRIVE DARIEN CT 06820 $266,756.78
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119889 TE,ALEXANDER A 7.875 .200 7.675 .0400 7.635 11/01/2027
600119890 ROSENTHAL,DOROTHY L. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119891 WONDERLY,MICHAEL 7.625 .200 7.425 .0400 7.385 12/01/2027
600119892 SIKORA,JAMES J 7.875 .200 7.675 .0400 7.635 12/01/2027
600119894 EISELE,ANDREW C. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119895 NGUYEN,LOAN NGOC 7.750 .200 7.550 .0400 7.510 12/01/2027
600119896 VON MASSENHAUSEN,ARNOLD 7.250 .200 7.050 .0400 7.010 12/01/2027
600119897 BLANKE,PAUL S. 7.125 .200 6.925 .0400 6.885 12/01/2012
600119898 BOWES,GERALD L 7.750 .200 7.550 .0400 7.510 11/01/2027
600119899 LI,HONG 7.750 .200 7.550 .0400 7.510 12/01/2027
600119900 DUFFY,ROBERT 7.125 .200 6.925 .0400 6.885 12/01/2012
600119901 GROSSMAN,GEORGE L. 6.625 .200 6.425 .0400 6.385 12/01/2012
600119902 FARLEY,KEITH W. 7.250 .200 7.050 .0400 7.010 12/01/2027
600119903 O'FARRELL,WILLIAM E 7.625 .200 7.425 .0400 7.385 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>
600119889 TE,ALEXANDER A 5830542 $1,761.92 19 01/01/1998 360
600119890 ROSENTHAL,DOROTHY L. 5832027 $4,241.66 01/01/1998 360
600119891 WONDERLY,MICHAEL 5832266 $1,766.66 01/01/1998 360
600119892 SIKORA,JAMES J 5832308 $2,849.53 01/01/1998 360
600119894 EISELE,ANDREW C. 5833199 $1,934.32 01/01/1998 360
600119895 NGUYEN,LOAN NGOC 5833744 $1,769.54 01/01/1998 360
600119896 VON MASSENHAUSEN,ARNOLD 5834080 $2,481.42 01/01/1998 360
600119897 BLANKE,PAUL S. 5834510 $3,487.46 01/01/1998 180
600119898 BOWES,GERALD L 5834585 $2,149.24 01/01/1998 360
600119899 LI,HONG 5835905 $2,364.17 19 01/01/1998 360
600119900 DUFFY,ROBERT 5837026 $5,706.74 01/01/1998 180
600119901 GROSSMAN,GEORGE L. 5879317 $4,258.28 01/01/1998 180
600119902 FARLEY,KEITH W. 5882485 $2,107.27 01/01/1998 360
600119903 O'FARRELL,WILLIAM E 5882816 $1,889.46 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119889 TE,ALEXANDER A $270,000.00 N
600119890 ROSENTHAL,DOROTHY L. $765,000.00 N
600119891 WONDERLY,MICHAEL $312,000.00 N
600119892 SIKORA,JAMES J $663,000.00 N
600119894 EISELE,ANDREW C. $355,000.00 N
600119895 NGUYEN,LOAN NGOC $309,000.00 N
600119896 VON MASSENHAUSEN,ARNOLD $485,000.00 N
600119897 BLANKE,PAUL S. $600,000.00 N
600119898 BOWES,GERALD L $405,000.00 N
600119899 LI,HONG $380,000.00 N
600119900 DUFFY,ROBERT $1,200,000.00 N
600119901 GROSSMAN,GEORGE L. $606,250.00 N
600119902 FARLEY,KEITH W. $455,000.00 N
600119903 O'FARRELL,WILLIAM E $281,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 26
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119904 DIANI,ROBERT P. 245 RIM ROCK ROAD NIPOMO CA 93444 $294,775.52
600119905 MAGNUSON,SCOTT E 3276 OAK KNOLL ROAD CARPENTERSVILLE IL 60110 $327,062.96
600119906 KOTHARI,BIREN 3300 CANTAMAR COURT SAN JOSE CA 95135 $266,991.55
600119907 KERLEY,WILLIAM J 3730 WEST GRACE AVENUE MEQUON WI 53092 $274,800.96
600119909 MYERS,DONALD A. 101 HARBOURSIDE DRIVE WILLIAMSBURG VA 23188 $255,768.60
600119910 LEVATINO, JR,SALVATORE 38 SLAYBACK DRIVE PRINCETON JUNCT NJ 08550 $242,995.67
600119911 SCHUMM,DANIEL 135 EDGEWOOD AVENUE SAN FRANCISCO CA 94117 $355,269.66
600119912 CRIPE,TIMOTHY P 5717 RESTAL ST MADISON WI 53711 $239,426.58
600119913 MCCONATHY, JR,DONALD R. 337 WYLLPEN DRIVE WEST CHESTER PA 19380 $349,720.11
600119914 MAGRUM,RICHARD L. 6500 MOUNT BATTEN COURT PROSPECT KY 40059 $339,721.30
600119915 DAVIS,JACKIE LEE 4384 RAVENE RIDGE COURT COLGATE WI 53017 $315,525.88
600119916 BRONSON,TED P 6485 FARM TO MARKET R WHITEFISH MT 59937 $254,229.86
600119918 HART,BENJAMIN A. 1970 SOUTH MILLER LANE LAS VEGAS NV 89117 $308,046.13
600119919 TAUNTON,PHILIP 742 BONAIR WAY LA JOLLA CA 92037 $307,277.44
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119904 DIANI,ROBERT P. 7.375 .200 7.175 .0400 7.135 12/01/2027
600119905 MAGNUSON,SCOTT E 7.625 .200 7.425 .0400 7.385 12/01/2027
600119906 KOTHARI,BIREN 7.250 .200 7.050 .0400 7.010 12/01/2027
600119907 KERLEY,WILLIAM J 7.625 .200 7.425 .0400 7.385 12/01/2027
600119909 MYERS,DONALD A. 6.500 .200 6.300 .0400 6.260 12/01/2012
600119910 LEVATINO, JR,SALVATORE 6.875 .200 6.675 .0400 6.635 12/01/2027
600119911 SCHUMM,DANIEL 7.125 .200 6.925 .0400 6.885 12/01/2027
600119912 CRIPE,TIMOTHY P 7.625 .200 7.425 .0400 7.385 12/01/2027
600119913 MCCONATHY, JR,DONALD R. 7.125 .200 6.925 .0400 6.885 12/01/2027
600119914 MAGRUM,RICHARD L. 7.000 .200 6.800 .0400 6.760 12/01/2027
600119915 DAVIS,JACKIE LEE 7.750 .200 7.550 .0400 7.510 11/01/2027
600119916 BRONSON,TED P 7.500 .200 7.300 .0400 7.260 12/01/2012
600119918 HART,BENJAMIN A. 7.250 .200 7.050 .0400 7.010 12/01/2012
600119919 TAUNTON,PHILIP 7.625 .200 7.425 .0400 7.385 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>
600119904 DIANI,ROBERT P. 5884853 $2,037.50 01/01/1998 360
600119905 MAGNUSON,SCOTT E 5884994 $2,318.03 01/01/1998 360
600119906 KOTHARI,BIREN 5885017 $1,822.78 01/01/1998 360
600119907 KERLEY,WILLIAM J 5885405 $1,946.44 01/01/1998 360
600119909 MYERS,DONALD A. 5894084 $2,235.39 01/01/1998 180
600119910 LEVATINO, JR,SALVATORE 5896204 $1,597.66 01/01/1998 360
600119911 SCHUMM,DANIEL 5896386 $2,395.44 01/01/1998 360
600119912 CRIPE,TIMOTHY P 5897590 $1,695.88 01/01/1998 360
600119913 MCCONATHY, JR,DONALD R. 5897889 $2,358.02 01/01/1998 360
600119914 MAGRUM,RICHARD L. 5899794 $2,262.03 01/01/1998 360
600119915 DAVIS,JACKIE LEE 5899836 $2,263.87 01/01/1998 360
600119916 BRONSON,TED P 5931696 $2,363.89 01/01/1998 180
600119918 HART,BENJAMIN A. 5942859 $2,820.75 01/01/1998 180
600119919 TAUNTON,PHILIP 5991963 $2,176.47 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119904 DIANI,ROBERT P. $450,000.00 N
600119905 MAGNUSON,SCOTT E $435,000.00 N
600119906 KOTHARI,BIREN $334,000.00 N
600119907 KERLEY,WILLIAM J $520,000.00 N
600119909 MYERS,DONALD A. $376,000.00 N
600119910 LEVATINO, JR,SALVATORE $304,000.00 N
600119911 SCHUMM,DANIEL $790,000.00 N
600119912 CRIPE,TIMOTHY P $318,000.00 N
600119913 MCCONATHY, JR,DONALD R. $680,000.00 N
600119914 MAGRUM,RICHARD L. $450,000.00 N
600119915 DAVIS,JACKIE LEE $422,000.00 N
600119916 BRONSON,TED P $730,000.00 N
600119918 HART,BENJAMIN A. $500,000.00 N
600119919 TAUNTON,PHILIP $410,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 27
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119920 MEADOWS,KENNETH R 2712 SALIX CIRCLE NAPERVILLE IL 60565 $283,299.91
600119921 OLIVERIA,JOHN M 5 PLUMRIDGE DRIVE DOYLESTOWN PA 18901 $278,921.50
600119922 BAIRD,1UCHAEL L. 4 SPRUCE HILL LANE GOSHEN NY 10924 $273,755.84
600119925 ZABRYCKI,GEORGE S. 316 W TRILLIUM ROAD MEQUON WI 53092 $247,497.44
600119926 DEVEROUX,WILLIAM J. 11217 BRIGHTWATER WAY BAKERSFIELD CA 93311 $228,995.37
600119927 FORD,STEVEN 2748 GOLD MEADOW CT SAN JOSE CA 95135 $324,764.77
600119929 KARIS,JAMES M. 7 PROCTOR STREET ACTON MA 01720 $519,523.64
600119930 LACHNEY,BRUCE 7316 385TH STREET E. EATONVILLE WA 98328 $251,541.59
600119932 ANDERSON,MICHAEL J. 614 14TH STREET HUNTINGTON BEA CA 92648 $295,555.06
600119936 YANEZ JR,RAUL 3838 NORTHWEST BROOKVIEW PORTLAND OR 97229 $292,267.43
600119939 BARAD,JOEL I. 79 HARMON AVENE PELHAM NY 10803 $229,476.47
600119940 WELLER,RICHARD J. 10116 PINE VALLEY CIRCLE BELVIDERE IL 61008 $296,744.29
600119941 DAVIS,SARAELLEN RT 2 BOX 2464 PALESTINE TX 75801 $292,298.70
600119942 ENCARNACION-SMITH,ANGELIQ 2917 GERTRUDE AVENUE LA CRESCENTA CA 91214 $279,776.08
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119920 MEADOWS,KENNETH R 7.750 .575 7.175 .0400 7.135 12/01/2027
600119921 OLIVERIA,JOHN M 7.375 .200 7.175 .0400 7.135 08/01/2027
600119922 BAIRD,1UCHAEL L. 8.000 .200 7.800 .0400 7.760 09/01/2027
600119925 ZABRYCKI,GEORGE S. 8.000 .200 7.800 .0400 7.760 10/01/2027
600119926 DEVEROUX,WILLIAM J. 7.750 .200 7.550 .0400 7.510 09/01/2027
600119927 FORD,STEVEN 7.625 .200 7.425 .0400 7.385 12/01/2027
600119929 KARIS,JAMES M. 7.625 .200 7.425 .0400 7.385 12/01/2027
600119930 LACHNEY,BRUCE 7.500 .200 7.300 .0400 7.260 11/01/2027
600119932 ANDERSON,MICHAEL J. 7.750 .200 7.550 .0400 7.510 09/01/2027
600119936 YANEZ JR,RAUL 7.250 .200 7.050 .0400 7.010 12/01/2027
600119939 BARAD,JOEL I. 7.750 .200 7.550 .0400 7.510 10/01/2027
600119940 WELLER,RICHARD J. 6.750 .200 6.550 .0400 6.510 12/01/2027
600119941 DAVIS,SARAELLEN 7.875 .200 7.675 .0400 7.635 12/01/2027
600119942 ENCARNACION-SMITH,ANGELIQ 7.125 .200 6.925 .0400 6.885 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>
600119920 MEADOWS,KENNETH R 5998828 $2,031.03 3 01/01/1998 360
600119921 OLIVERIA,JOHN M 6039085 $1,933.89 01/01/1998 360
600119922 BAIRD,1UCHAEL L. 6095756 $2,014.19 19 01/01/1998 360
600119925 ZABRYCKI,GEORGE S. 6124994 $1,819.74 01/01/1998 360
600119926 DEVEROUX,WILLIAM J. 6130512 $1,645.24 01/01/1998 360
600119927 FORD,STEVEN 6139232 $2,300.33 01/01/1998 360
600119929 KARIS,JAMES M. 6142798 $3,680.53 01/01/1998 360
600119930 LACHNEY,BRUCE 6143077 $1,762.02 01/01/1998 360
600119932 ANDERSON,MICHAEL J. 6156723 $2,123.45 19 01/01/1998 360
600119936 YANEZ JR,RAUL 6184311 $1,995.37 19 01/01/1998 360
600119939 BARAD,JOEL I. 6198923 $1,647.75 01/01/1998 360
600119940 WELLER,RICHARD J. 6209167 $1,926.34 19 01/01/1998 360
600119941 DAVIS,SARAELLEN 6214183 $2,120.83 19 01/01/1998 360
600119942 ENCARNACION-SMITH,ANGELIQ 6219695 $1,886.42 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119920 MEADOWS,KENNETH R $315,000.00 N
600119921 OLIVERIA,JOHN M $350,000.00 N
600119922 BAIRD,1UCHAEL L. $305,000.00 N
600119925 ZABRYCKI,GEORGE S. $440,000.00 N
600119926 DEVEROUX,WILLIAM J. $287,106.00 N
600119927 FORD,STEVEN $499,990.00 N
600119929 KARIS,JAMES M. $650,000.00 N
600119930 LACHNEY,BRUCE $315,000.00 N
600119932 ANDERSON,MICHAEL J. $312,000.00 N
600119936 YANEZ JR,RAUL $325,000.00 N
600119939 BARAD,JOEL I. $460,000.00 N
600119940 WELLER,RICHARD J. $333,126.00 N
600119941 DAVIS,SARAELLEN $325,000.00 N
600119942 ENCARNACION-SMITH,ANGELIQ $350,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 28
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119943 JOHNSON,JAMES A. 424 MCKINLEY BLVD. EAGLE RIVER WI 54521 $255,823.82
600119944 CARMOUCHE,DELISSA D 820 CIRCLE HILL RD LOUISVILLE KY 40207 $240,183.95
600119945 EVANS,GREGORY L. 1030 BUENA VISTA STREET SOUTH PASADENA CA 91030 $511,120.73
600119946 MUCHA,SUSAN E 4500 PARADE WILLOW WAY EL PASO TX 79901 $251,717.67
600119947 LEWIS,DAVID F. 210 DRAKE CIRCLE CRANBERRY PA 16066 $274,274.99
600119948 DE BLASIO,FRANCIS DAVID 3 GAMBREL CIRCLE CRANBERRY NJ 08512 $243,032.63
600119949 WORRALL,BRUCE 2407 NE 130TH AVENUE BELLEVUE WA 98004 $247,316.32
600119950 CALHOUN,THOMAS J. 333 GLORIETTA PLACE CORONADO CA 92118 $358,933.42
600119951 PETERSEN,ERIC N. 3422 JEWELL STREET SAN DIEGO CA 92109 $302,969.29
600119952 LANGFORD,RAYMOND 6297 HIDDEN MEADOW COURT SAN JOSE CA 95135 $391,572.50
600119953 KELLEY,DAVID 13469 GALEWOOD STREET SHERMAN OAKS CA 91423 $299,782.86
600119954 LIE,JOHN T. 110 LAS VEGAS ROAD ORINDA CA 94563 $534,533.50
600119955 JOHNNIE,DARRYN A. 1017 NORTH MALIBU CAN BREA CA 92821 $262,232.55
600119956 LEVIN,DANIEL B 11 RED BARN CIRCLE PERINTON NY 14534 $449,705.63
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119943 JOHNSON,JAMES A. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119944 CARMOUCHE,DELISSA D 7.875 .200 7.675 .0400 7.635 12/01/2027
600119945 EVANS,GREGORY L. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119946 MUCHA,SUSAN E 7.625 .200 7.425 .0400 7.385 12/01/2027
600119947 LEWIS,DAVID F. 7.000 .200 6.800 .0400 6.760 12/01/2027
600119948 DE BLASIO,FRANCIS DAVID 7.875 .200 7.675 .0400 7.635 12/01/2027
600119949 WORRALL,BRUCE 7.500 .200 7.300 .0400 7.260 12/01/2027
600119950 CALHOUN,THOMAS J. 7.500 .200 7.300 .0400 7.260 12/01/2027
600119951 PETERSEN,ERIC N. 7.375 .200 7.175 .0400 7.135 12/01/2027
600119952 LANGFORD,RAYMOND 7.875 .200 7.675 .0400 7.635 12/01/2027
600119953 KELLEY,DAVID 7.625 .200 7.425 .0400 7.385 12/01/2027
600119954 LIE,JOHN T. 7.250 .200 7.050 .0400 7.010 12/01/2027
600119955 JOHNNIE,DARRYN A. 8.250 .200 8.050 .0400 8.010 12/01/2027
600119956 LEVIN,DANIEL B 8.125 .200 7.925 .0400 7.885 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>
600119943 JOHNSON,JAMES A. 6220461 $1,856.18 01/01/1998 360
600119944 CARMOUCHE,DELISSA D 6221899 $1,742.71 19 01/01/1998 360
600119945 EVANS,GREGORY L. 6223812 $3,664.67 01/01/1998 360
600119946 MUCHA,SUSAN E 6227136 $1,782.94 19 01/01/1998 360
600119947 LEWIS,DAVID F. 6232979 $1,826.26 19 01/01/1998 360
600119948 DE BLASIO,FRANCIS DAVID 6236111 $1,763.37 01/01/1998 360
600119949 WORRALL,BRUCE 6239172 $1,730.56 19 01/01/1998 360
600119950 CALHOUN,THOMAS J. 6239602 $2,511.58 19 01/01/1998 360
600119951 PETERSEN,ERIC N. 6254973 $2,094.13 01/01/1998 360
600119952 LANGFORD,RAYMOND 6255178 $2,842.28 01/01/1998 360
600119953 KELLEY,DAVID 6255301 $2,123.39 01/01/1998 360
600119954 LIE,JOHN T. 6255467 $3,651.01 01/01/1998 360
600119955 JOHNNIE,DARRYN A. 6256028 $1,972.83 19 01/01/1998 360
600119956 LEVIN,DANIEL B 6256416 $3,341.24 2 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119943 JOHNSON,JAMES A. $320,000.00 N
600119944 CARMOUCHE,DELISSA D $253,000.00 N
600119945 EVANS,GREGORY L. $700,000.00 N
600119946 MUCHA,SUSAN E $279,900.00 N
600119947 LEWIS,DAVID F. $305,000.00 N
600119948 DE BLASIO,FRANCIS DAVID $304,000.00 N
600119949 WORRALL,BRUCE $275,000.00 N
600119950 CALHOUN,THOMAS J. $430,000.00 N
600119951 PETERSEN,ERIC N. $379,000.00 N
600119952 LANGFORD,RAYMOND $605,000.00 N
600119953 KELLEY,DAVID $515,000.00 N
600119954 LIE,JOHN T. $669,000.00 N
600119955 JOHNNIE,DARRYN A. $285,000.00 N
600119956 LEVIN,DANIEL B $500,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 29
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119957 BELAI,ISAC 5303 SOUTH CHARITON AVE LOS ANGELES CA 90056 $393,677.49
600119958 HUANG,ALLISON FONG-CHA 11602 SPRUCE RUN DRIVE SAN DIEGO CA 92131 $306,249.09
600119959 LINDBLOM,PEDER E. 2400 NOTTINGHAM AVENUE LOS ANGELES CA 90027 $423,414.49
600119960 URAM,RANDALL B. 22 PRESERVATION WAY WESTFORD MA 01886 $249,804.97
600119961 FLETCHER,KRISTINE R. 390 HACIENDA COURT LOS ALTOS CA 94022 $599,495.92
600119962 ZUGELDER,JOSEPH P. 1760 HOWARD AVENUE SAN CARLOS CA 94070 $301,092.44
600119963 ZEPEDA,ELIZABETH 2320 ASHLAND AVENUE SANTA MONICA CA 90405 $329,772.90
600119964 HAUTY,CHRISTOPHER T. 1023 CENTINELA AVENUE SANTA MONICA CA 90403 $535,259.82
600119965 FLAIG,GERALD R. 18823 NEW HAMPSHIRE AVENU ASHTON MD 20861 $375,036.93
600119966 CRAWFORD,LINDA A. 2035 CORDOVA CIRCLE GRANBURY TX 76049 $233,676.87
600119967 MELLIS,GEORGE R. 1437 TOPAR AVENUE LOS ALTOS CA 94024 $730,892.81
600119968 BROCK,III,RANDOLPH D. RT 1 ROCKLEDGE FARM HIGHG SWANTON VT 05478 $411,141.06
600119969 STORY,MATTHEW 4156 KLUMP AVENUE NORTH HOLLYWOOD CA 91602 $273,602.10
600119970 KEARL,DANIEL A 31823 BLAIR RD PHILOMATH OR 97370 $235,829.18
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119957 BELAI,ISAC 7.625 .200 7.425 .0400 7.385 11/01/2027
600119958 HUANG,ALLISON FONG-CHA 7.875 .200 7.675 .0400 7.635 12/01/2027
600119959 LINDBLOM,PEDER E. 7.875 .200 7.675 .0400 7.635 11/01/2027
600119960 URAM,RANDALL B. 7.250 .200 7.050 .0400 7.010 12/01/2027
600119961 FLETCHER,KRISTINE R. 6.875 .200 6.675 .0400 6.635 12/01/2027
600119962 ZUGELDER,JOSEPH P. 7.875 .200 7.675 .0400 7.635 12/01/2027
600119963 ZEPEDA,ELIZABETH 7.875 .200 7.675 .0400 7.635 12/01/2027
600119964 HAUTY,CHRISTOPHER T. 7.875 .200 7.675 .0400 7.635 11/01/2027
600119965 FLAIG,GERALD R. 6.750 .200 6.550 .0400 6.510 12/01/2012
600119966 CRAWFORD,LINDA A. 7.875 .200 7.675 .0400 7.635 11/01/2027
600119967 MELLIS,GEORGE R. 7.000 .200 6.800 .0400 6.760 12/01/2027
600119968 BROCK,III,RANDOLPH D. 6.500 .200 6.300 .0400 6.260 12/01/2012
600119969 STORY,MATTHEW 7.625 .200 7.425 .0400 7.385 11/01/2027
600119970 KEARL,DANIEL A 7.625 .200 7.425 .0400 7.385 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>
600119957 BELAI,ISAC 6256820 $2,790.48 19 01/01/1998 360
600119958 HUANG,ALLISON FONG-CHA 6258388 $2,222.05 01/01/1998 360
600119959 LINDBLOM,PEDER E. 6258560 $3,074.30 01/01/1998 360
600119960 URAM,RANDALL B. 6259394 $1,705.45 01/01/1998 360
600119961 FLETCHER,KRISTINE R. 6261176 $3,941.58 01/01/1998 360
600119962 ZUGELDER,JOSEPH P. 6261416 $2,186.81 01/01/1998 360
600119963 ZEPEDA,ELIZABETH 6261804 $2,392.73 01/01/1998 360
600119964 HAUTY,CHRISTOPHER T. 6261846 $3,886.38 01/01/1998 360
600119965 FLAIG,GERALD R. 6262356 $3,329.48 01/01/1998 180
600119966 CRAWFORD,LINDA A. 6263941 $1,696.67 19 01/01/1998 360
600119967 MELLIS,GEORGE R. 6264188 $4,867.52 01/01/1998 360
600119968 BROCK,III,RANDOLPH D. 6264840 $3,593.32 01/01/1998 180
600119969 STORY,MATTHEW 6265011 $1,939.36 01/01/1998 360
600119970 KEARL,DANIEL A 6266217 $1,670.40 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600119957 BELAI,ISAC $415,000.00 N
600119958 HUANG,ALLISON FONG-CHA $384,000.00 N
600119959 LINDBLOM,PEDER E. $530,000.00 N
600119960 URAM,RANDALL B. $507,000.00 N
600119961 FLETCHER,KRISTINE R. $750,000.00 N
600119962 ZUGELDER,JOSEPH P. $377,000.00 N
600119963 ZEPEDA,ELIZABETH $445,000.00 N
600119964 HAUTY,CHRISTOPHER T. $670,000.00 N
600119965 FLAIG,GERALD R. $571,000.00 N
600119966 CRAWFORD,LINDA A. $260,000.00 N
600119967 MELLIS,GEORGE R. $975,500.00 N
600119968 BROCK,III,RANDOLPH D. $550,000.00 N
600119969 STORY,MATTHEW $342,500.00 N
600119970 KEARL,DANIEL A $295,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 30
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119971 ROBINSON,KENNETH 15 SKY ROAD MILL VALLEY CA 94941 $349,752.97
600119972 REDFORD,ROBERT D. 15229 QUITO ROAD SARATOGA CA 95070 $549,611.81
600119973 TOMASI,CARLO 936 DENNIS DRIVE PALO ALTO CA 94303 $294,796.99
600119974 TOGNAZZINI,RANDALL 1784 RANCHO HILLS CT GILROY CA 95020 $359,450.44
600119975 CHEN,DAVID 1618 QUAIL AVENUE SUNNYVALE CA 94087 $296,484.67
600119976 GANKOS, JR.,ALEXANDER J 21 BRAGDON AVENUE DANBURY CT 06811 $265,816.94
600119977 HANLON,STEPHEN R. 7 CAMBRIDGE COURT MOORESTOWN NJ 08057 $427,697.92
600119979 LAZ,CREIGHTON B. 279 ALBERT PLACE COSTA MESA CA 92627 $256,219.03
600119980 HEIMERL,TODD J 4630 ALDER YORBA LINDA CA 92886 $293,402.99
600119981 FILIPPUZZI,RICHARD ALAN 430 BERESFORD AVENUE REDWOOD CITY CA 94061 $359,570.44
600119982 SALTZMAN,MICHAEL 2275 GUTHRIE CIRCLE LOS ANGELES CA 90034 $348,931.30
600119983 TSANG,GRACE 1165 LAURELES DR LOS ALTOS CA 94022 $599,587.08
600119984 NUNEZ,DEAN J 13318 GALEWOOD STREET LOS ANGELES CA 91423 $279,792.20
600119985 BHAGAT,RAJIV 10447 VIVIENDA STREET RANCHO CUCAMONG CA 91737 $478,518.25
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119971 ROBINSON,KENNETH 7.750 .200 7.550 .0400 7.510 12/01/2027
600119972 REDFORD,ROBERT D. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119973 TOMASI,CARLO 7.875 .200 7.675 .0400 7.635 12/01/2027
600119974 TOGNAZZINI,RANDALL 7.375 .200 7.175 .0400 7.135 11/01/2027
600119975 CHEN,DAVID 7.750 .200 7.550 .0400 7.510 12/01/2027
600119976 GANKOS, JR.,ALEXANDER J 7.875 .200 7.675 .0400 7.635 12/01/2027
600119977 HANLON,STEPHEN R. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119979 LAZ,CREIGHTON B. 7.750 .200 7.550 .0400 7.510 12/01/2027
600119980 HEIMERL,TODD J 8.000 .200 7.800 .0400 7.760 12/01/2027
600119981 FILIPPUZZI,RICHARD ALAN 8.250 .200 8.050 .0400 8.010 12/01/2027
600119982 SALTZMAN,MICHAEL 7.375 .200 7.175 .0400 7.135 12/01/2012
600119983 TSANG,GRACE 7.875 .200 7.675 .0400 7.635 12/01/2027
600119984 NUNEZ,DEAN J 7.500 .200 7.300 .0400 7.260 12/01/2027
600119985 BHAGAT,RAJIV 7.250 .200 7.050 .0400 7.010 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600119971 ROBINSON,KENNETH 6267439 $2,507.45 01/01/1998 360
600119972 REDFORD,ROBERT D. 6267702 $3,940.27 01/01/1998 360
600119973 TOMASI,CARLO 6267819 $2,138.96 01/01/1998 360
600119974 TOGNAZZINI,RANDALL 6268056 $2,486.44 01/01/1998 360
600119975 CHEN,DAVID 6268064 $2,126.32 01/01/1998 360
600119976 GANKOS, JR.,ALEXANDER J 6269179 $1,928.69 19 01/01/1998 360
600119977 HANLON,STEPHEN R. 6269203 $3,066.25 01/01/1998 360
600119979 LAZ,CREIGHTON B. 6269625 $1,836.89 19 01/01/1998 360
600119980 HEIMERL,TODD J 6270334 $2,154.34 01/01/1998 360
600119981 FILIPPUZZI,RICHARD ALAN 6270953 $2,704.56 01/01/1998 360
600119982 SALTZMAN,MICHAEL 6271795 $3,219.74 01/01/1998 180
600119983 TSANG,GRACE 6271829 $4,350.42 01/01/1998 360
600119984 NUNEZ,DEAN J 6271837 $1,957.80 01/01/1998 360
600119985 BHAGAT,RAJIV 6272124 $4,381.75 01/01/1998 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>
600119971 ROBINSON,KENNETH $820,000.00 N
600119972 REDFORD,ROBERT D. $1,210,000.00 N
600119973 TOMASI,CARLO $415,000.00 N
600119974 TOGNAZZINI,RANDALL $490,000.00 N
600119975 CHEN,DAVID $371,000.00 N
600119976 GANKOS, JR.,ALEXANDER J $280,000.00 N
600119977 HANLON,STEPHEN R. $550,000.00 N
600119979 LAZ,CREIGHTON B. $285,000.00 N
600119980 HEIMERL,TODD J $367,000.00 N
600119981 FILIPPUZZI,RICHARD ALAN $460,000.00 N
600119982 SALTZMAN,MICHAEL $600,000.00 N
600119983 TSANG,GRACE $765,000.00 N
600119984 NUNEZ,DEAN J $350,000.00 N
600119985 BHAGAT,RAJIV $635,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 31
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600119986 HAMMER,DON 985 MCCLAIN DRIVE VINELAND NJ 08360 $308,016.92
600119987 LEMON,PHILIP G. 10319 BEAR CREEK DRIVE MANASSAS VA 20111 $235,815.89
600119988 GRABOVAC,BOSKO 317 AUBURN DRIVE SIERRA MADRE CA 91007 $274,800.96
600119989 LOPEZ-BLANCO,VIVIAN 3915 MONSERRATE STREET CORAL GABLES FL 33134 $310,985.83
600119990 HART,ALEX 16637 NORTHEAST 30TH STRE BELLEVUE WA 98008 $287,706.32
600119991 GUFFEY,THOMAS F. 1995 HUGHES DRIVE CUMMING GA 30130 $235,255.43
600119992 DE LA GUARDIA,OSCAR G. 1525 TRILLO AVENUE CORAL GABLES FL 33146 $279,373.33
600119993 NICKERSON,JOHN T. 14 SIERRA VISTA PLACE DANVILLE CA 94526 $238,304.50
600119994 JOHNSON,KURT J. 228 COUNTRY GATE DRIVE TREDYFFRIN TOWN PA 19087 $306,932.50
600119995 STRUTZ,GARY 6872 HAMPTON DRIVE SAN JOSE CA 95120 $399,703.14
600119996 BARZANIAN MARBINI,SAIED A 3689 COUNTRY CLUB DR REDWOOD CITY CA 94061 $288,051.63
600119997 RAND,JONATHAN D. 10631 YOUNGWORTH ROAD CULVER CITY CA 90230 $368,695.35
600119998 NELSON,JEFFREY ROBERT 795 WEST LATIMER AVENUE CAMPBELL CA 95008 $249,766.67
600119999 JOHN,VARGHESE 1722 18TH AVENUE SAN FRANCISCO CA 94122 $281,513.75
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600119986 HAMMER,DON 6.875 .200 6.675 .0400 6.635 11/01/2012
600119987 LEMON,PHILIP G. 7.250 .200 7.050 .0400 7.010 12/01/2027
600119988 GRABOVAC,BOSKO 7.625 .200 7.425 .0400 7.385 12/01/2027
600119989 LOPEZ-BLANCO,VIVIAN 7.875 .200 7.675 .0400 7.635 12/01/2027
600119990 HART,ALEX 7.500 .200 7.300 .0400 7.260 12/01/2027
600119991 GUFFEY,THOMAS F. 7.000 .200 6.800 .0400 6.760 12/01/2012
600119992 DE LA GUARDIA,OSCAR G. 8.000 .200 7.800 .0400 7.760 11/01/2027
600119993 NICKERSON,JOHN T. 7.000 .200 6.800 .0400 6.760 12/01/2027
600119994 JOHNSON,KURT J. 6.750 .200 6.550 .0400 6.510 12/01/2012
600119995 STRUTZ,GARY 7.500 .200 7.300 .0400 7.260 12/01/2027
600119996 BARZANIAN MARBINI,SAIED A 7.875 .200 7.675 .0400 7.635 12/01/2027
600119997 RAND,JONATHAN D. 7.625 .200 7.425 .0400 7.385 12/01/2012
600119998 NELSON,JEFFREY ROBERT 8.000 .200 7.800 .0400 7.760 12/01/2027
600119999 JOHN,VARGHESE 7.875 .200 7.675 .0400 7.635 12/01/2017
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600119986 HAMMER,DON 6272298 $2,764.75 01/01/1998 180
600119987 LEMON,PHILIP G. 6272686 $1,609.94 01/01/1998 360
600119988 GRABOVAC,BOSKO 6273148 $1,946.44 01/01/1998 360
600119989 LOPEZ-BLANCO,VIVIAN 6273312 $2,256.42 01/01/1998 360
600119990 HART,ALEX 6276786 $2,013.18 01/01/1998 360
600119991 GUFFEY,THOMAS F. 6291371 $2,121.24 01/01/1998 180
600119992 DE LA GUARDIA,OSCAR G. 6292783 $2,052.71 14 01/01/1998 360
600119993 NICKERSON,JOHN T. 6292957 $1,586.75 19 01/01/1998 360
600119994 JOHNSON,KURT J. 6295075 $2,725.53 01/01/1998 180
600119995 STRUTZ,GARY 6295158 $2,796.86 01/01/1998 360
600119996 BARZANIAN MARBINI,SAIED A 6296404 $2,090.02 01/01/1998 360
600119997 RAND,JONATHAN D. 6296537 $3,454.42 01/01/1998 180
600119998 NELSON,JEFFREY ROBERT 6296669 $1,834.42 01/01/1998 360
600119999 JOHN,VARGHESE 6297527 $2,336.88 19 01/01/1998 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>
600119986 HAMMER,DON $425,000.00 N
600119987 LEMON,PHILIP G. $295,000.00 N
600119988 GRABOVAC,BOSKO $475,000.00 N
600119989 LOPEZ-BLANCO,VIVIAN $389,000.00 N
600119990 HART,ALEX $359,900.00 N
600119991 GUFFEY,THOMAS F. $295,000.00 N
600119992 DE LA GUARDIA,OSCAR G. $294,500.00 N
600119993 NICKERSON,JOHN T. $265,000.00 N
600119994 JOHNSON,KURT J. $385,000.00 N
600119995 STRUTZ,GARY $530,000.00 N
600119996 BARZANIAN MARBINI,SAIED A $495,000.00 N
600119997 RAND,JONATHAN D. $603,000.00 N
600119998 NELSON,JEFFREY ROBERT $330,000.00 N
600119999 JOHN,VARGHESE $340,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 32
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120000 DOYLE,MARIAN 36 RICHARDS RD PORT WASHINGTON NY 11050 $387,450.53
600120001 DEFILIPPIS,GARY A. 317 WEST 42ND AVENUE SAN MATEO CA 94403 $287,796.73
600120002 MILLER,RICHARD L 9054 N LARIAT CIRCLE PARK CITY UT 84098 $251,817.60
600120003 BUSCH,RENARD I. 8505 NORRIS CANYON CASTRO VALLEY CA 94552 $319,041.75
600120004 MERNYK,PAUL 939 LINCOLN AVENUE PALO ALTO CA 94301 $599,576.53
600120005 ANDERSON,ERIC P. 170 GRAVATT DRIVE OAKLAND CA 94705 $364,742.39
600120006 SALPERTO,ANDREW 10256 OATFIELD WAY CAMARILLO CA 93012 $418,204.62
600120007 HORVATH,WESLEY 277 BENNETTS FARM ROAD RIDGEFIELD CT 06877 $274,800.97
600120008 HESS,ROBERT E 6204 EAST FANFOL DRIVE PARADISE VALLEY AZ 85253 $313,772.73
600120009 ROMANI,MARCO F. 1140 CORTEZ AVENUE BURLINGAME CA 94010 $391,730.22
600120010 GOLDBLATT,STEPHEN 8885 NORTH TIMPHAVEN SUNDANCE UT 84604 $359,752.25
600120011 EGGENBERG,PAT J. 1508 VON STEUBEN DRIVE WEST CHESTER PA 19380 $249,804.98
600120012 LANDESS,JAMES D. 1179 LENNON WAY SAN JOSE CA 95125 $279,608.33
600120013 WANG,PAUL C. 1637 CEDAR STREET SAN CARLOS CA 94070 $281,046.44
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120000 DOYLE,MARIAN 7.750 .200 7.550 .0400 7.510 11/01/2027
600120001 DEFILIPPIS,GARY A. 7.750 .200 7.550 .0400 7.510 12/01/2027
600120002 MILLER,RICHARD L 7.625 .200 7.425 .0400 7.385 12/01/2027
600120003 BUSCH,RENARD I. 7.625 .200 7.425 .0400 7.385 12/01/2012
600120004 MERNYK,PAUL 7.750 .200 7.550 .0400 7.510 12/01/2027
600120005 ANDERSON,ERIC P. 7.750 .200 7.550 .0400 7.510 12/01/2027
600120006 SALPERTO,ANDREW 7.750 .200 7.550 .0400 7.510 12/01/2027
600120007 HORVATH,WESLEY 7.625 .200 7.425 .0400 7.385 12/01/2027
600120008 HESS,ROBERT E 7.625 .200 7.425 .0400 7.385 12/01/2027
600120009 ROMANI,MARCO F. 7.875 .200 7.675 .0400 7.635 12/01/2027
600120010 GOLDBLATT,STEPHEN 7.875 .200 7.675 .0400 7.635 12/01/2027
600120011 EGGENBERG,PAT J. 7.250 .200 7.050 .0400 7.010 12/01/2027
600120012 LANDESS,JAMES D. 7.750 .200 7.550 .0400 7.510 12/01/2027
600120013 WANG,PAUL C. 7.625 .200 7.425 .0400 7.385 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>
600120000 DOYLE,MARIAN 6298129 $2,779.68 01/01/1998 360
600120001 DEFILIPPIS,GARY A. 6299432 $2,063.27 01/01/1998 360
600120002 MILLER,RICHARD L 6301527 $1,783.65 01/01/1998 360
600120003 BUSCH,RENARD I. 6301832 $2,989.22 01/01/1998 180
600120004 MERNYK,PAUL 6302418 $4,298.48 01/01/1998 360
600120005 ANDERSON,ERIC P. 6303150 $2,614.91 01/01/1998 360
600120006 SALPERTO,ANDREW 6303465 $2,998.19 01/01/1998 360
600120007 HORVATH,WESLEY 6303606 $1,946.44 01/01/1998 360
600120008 HESS,ROBERT E 6303671 $2,222.48 01/01/1998 360
600120009 ROMANI,MARCO F. 6304695 $2,842.28 01/01/1998 360
600120010 GOLDBLATT,STEPHEN 6304794 $2,610.25 01/01/1998 360
600120011 EGGENBERG,PAT J. 6304851 $1,705.45 01/01/1998 360
600120012 LANDESS,JAMES D. 6305601 $2,005.96 01/01/1998 360
600120013 WANG,PAUL C. 6305981 $1,990.67 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120000 DOYLE,MARIAN $485,000.00 N
600120001 DEFILIPPIS,GARY A. $410,000.00 N
600120002 MILLER,RICHARD L $315,000.00 N
600120003 BUSCH,RENARD I. $400,000.00 N
600120004 MERNYK,PAUL $1,275,000.00 N
600120005 ANDERSON,ERIC P. $795,000.00 N
600120006 SALPERTO,ANDREW $558,000.00 N
600120007 HORVATH,WESLEY $387,500.00 N
600120008 HESS,ROBERT E $410,000.00 N
600120009 ROMANI,MARCO F. $490,000.00 N
600120010 GOLDBLATT,STEPHEN $585,000.00 N
600120011 EGGENBERG,PAT J. $330,000.00 N
600120012 LANDESS,JAMES D. $360,000.00 N
600120013 WANG,PAUL C. $375,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 33
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120014 BOREN,REBECCA L 20 FARRAGUT IRVINE CA 92620 $256,123.61
600120015 DAUGHTERS,JAMES R. 112 TOBEY LANE GLENBROOK NV 89413 $515,053.73
600120016 SOHRT,MARILYN LIGHT 274 EAST 22ND STREET COSTA MESA CA 92627 $274,301.32
600120017 KLEINMAN,JOEL A. 5974 THORNTREE DRIVE SAN JOSE CA 95120 $309,775.63
600120018 OLSON,ROBERT N. 421 HEDGEROW COURT MOUNTAIN VIEW CA 94041 $403,714.86
600120019 PEPPER,DAVID J 2 KATHRYN DRIVE ASHLAND MA 01721 $230,063.36
600120021 GORBERG,DAVID J. 650 N. ITHAN AVENUE ROSEMONT PA 19010 $310,892.37
600120022 CHAN,TOM KWOK-LAM 18 DARYL DRIVE ORINDA CA 94563 $307,090.04
600120023 KAPLAN,DONALD C. 6647 EAST DOUBLETREE RANC PARADISE VALLEY AZ 85253 $309,739.56
600120024 POWELL,JAMES R. 5373 SOUTHERN AVENUE DALLAS TX 75209 $354,729.87
600120025 BRANICK,ROBERT L. 147 PRINCE ROYAL DRIVE CORTE MADERA CA 94925 $321,349.12
600120026 YU,WINNIE 1767 FROBISHER WAY SAN JOSE CA 95124 $264,798.36
600120027 POTTER,MARK H. 1935 KNOLLWOOD LANE LOS ALTOS CA 94024 $599,576.52
600120028 OLSON,ELIAS W. 309 VIA RECODO MILL VALLEY CA 94941 $296,890.30
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120014 BOREN,REBECCA L 7.875 .200 7.675 .0400 7.635 12/01/2027
600120015 DAUGHTERS,JAMES R. 7.375 .200 7.175 .0400 7.135 01/01/2028
600120016 SOHRT,MARILYN LIGHT 7.625 .200 7.425 .0400 7.385 12/01/2027
600120017 KLEINMAN,JOEL A. 7.625 .200 7.425 .0400 7.385 12/01/2027
600120018 OLSON,ROBERT N. 7.750 .200 7.550 .0400 7.510 12/01/2027
600120019 PEPPER,DAVID J 7.625 .200 7.425 .0400 7.385 12/01/2027
600120021 GORBERG,DAVID J. 7.750 .200 7.550 .0400 7.510 12/01/2027
600120022 CHAN,TOM KWOK-LAM 7.750 .200 7.550 .0400 7.510 12/01/2012
600120023 KAPLAN,DONALD C. 6.875 .200 6.675 .0400 6.635 12/01/2027
600120024 POWELL,JAMES R. 7.375 .200 7.175 .0400 7.135 12/01/2027
600120025 BRANICK,ROBERT L. 7.250 .200 7.050 .0400 7.010 12/01/2027
600120026 YU,WINNIE 7.375 .200 7.175 .0400 7.135 12/01/2027
600120027 POTTER,MARK H. 7.750 .200 7.550 .0400 7.510 12/01/2027
600120028 OLSON,ELIAS W. 7.750 .200 7.550 .0400 7.510 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>
600120014 BOREN,REBECCA L 6306039 $1,858.36 19 01/01/1998 360
600120015 DAUGHTERS,JAMES R. 6306351 $4,117.52 01/01/1998 240
600120016 SOHRT,MARILYN LIGHT 6306732 $1,942.90 18 01/01/1998 360
600120017 KLEINMAN,JOEL A. 6307045 $2,194.17 01/01/1998 360
600120018 OLSON,ROBERT N. 6307607 $2,894.31 01/01/1998 360
600120019 PEPPER,DAVID J 6308332 $1,630.05 01/01/1998 360
600120021 GORBERG,DAVID J. 6310239 $2,229.48 01/01/1998 360
600120022 CHAN,TOM KWOK-LAM 6311377 $2,899.13 01/01/1998 180
600120023 KAPLAN,DONALD C. 6313167 $2,036.48 01/01/1998 360
600120024 POWELL,JAMES R. 6315212 $2,451.90 01/01/1998 360
600120025 BRANICK,ROBERT L. 6315410 $2,193.88 01/01/1998 360
600120026 YU,WINNIE 6315592 $1,830.29 01/01/1998 360
600120027 POTTER,MARK H. 6315634 $4,298.48 01/01/1998 360
600120028 OLSON,ELIAS W. 6315659 $2,128.47 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120014 BOREN,REBECCA L $269,800.00 N
600120015 DAUGHTERS,JAMES R. $660,000.00 N
600120016 SOHRT,MARILYN LIGHT $305,000.00 N
600120017 KLEINMAN,JOEL A. $558,000.00 N
600120018 OLSON,ROBERT N. $590,000.00 N
600120019 PEPPER,DAVID J $287,900.00 N
600120021 GORBERG,DAVID J. $389,000.00 N
600120022 CHAN,TOM KWOK-LAM $385,000.00 N
600120023 KAPLAN,DONALD C. $405,000.00 N
600120024 POWELL,JAMES R. $455,000.00 N
600120025 BRANICK,ROBERT L. $420,000.00 N
600120026 YU,WINNIE $420,000.00 N
600120027 POTTER,MARK H. $786,000.00 N
600120028 OLSON,ELIAS W. $372,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 34
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120029 SAUER,JONATHAN M 1577 ASTER LANE CUPERTINO CA 95014 $369,689.58
600120030 ANGUIANO,MANUEL 8533 COLIMA RAOD WHITTIER CA 90605 $231,823.46
600120031 CHAU,HANK 1746 9TH AVENUE SAN FRANCISCO CA 94122 $265,412.53
600120032 PODVALNY,MARK 1574 34TH AVENUE SAN FRANCISCO CA 94122 $233,335.20
600120033 YANG,FRANK 4171 PASCAL PLACE PALOS VERDES PE CA 90274 $335,238.27
600120034 MAHOWALD,PETER H. 71 SAN JUAN COURT LOS ALTOS CA 94022 $436,691.56
600120035 LIPTON,DANIEL 101 RIDGEWOOD AVE SAN FRANCISCO CA 94112 $291,493.91
600120036 WEEMS,WILLIAM T 3900 BALCOM ROAD SAN JOSE CA 95148 $299,771.72
600120037 LANE,PETER B. 735 COUNTY LINE ROAD RADNOR PA 19085 $299,754.09
600120038 CUMMINGS,CRAIG A. 1623 SPRING STREET MOUNTAIN VIEW CA 94043 $256,614.13
600120039 WAN,ALAN S 6570 DAWES STREET OAKLAND CA 94611 $329,772.90
600120040 GILE,ALAN P. 80 ORD ST SAN FRANCISCO CA 94114 $298,812.50
600120041 SMITH,KURT S. 2479 LYRIC AVENUE LOS ANGELES CA 90027 $249,670.52
600120042 ROBELL,ALAN 10199 RICHWOOD DRIVE CUPERTINO CA 95014 $309,781.20
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120029 SAUER,JONATHAN M 7.750 .200 7.550 .0400 7.510 12/01/2027
600120030 ANGUIANO,MANUEL 7.375 .200 7.175 .0400 7.135 12/01/2027
600120031 CHAU,HANK 7.750 .200 7.550 .0400 7.510 12/01/2027
600120032 PODVALNY,MARK 7.750 .200 7.550 .0400 7.510 12/01/2027
600120033 YANG,FRANK 7.250 .200 7.050 .0400 7.010 12/01/2027
600120034 MAHOWALD,PETER H. 7.750 .200 7.550 .0400 7.510 12/01/2027
600120035 LIPTON,DANIEL 7.750 .200 7.550 .0400 7.510 12/01/2027
600120036 WEEMS,WILLIAM T 7.375 .200 7.175 .0400 7.135 12/01/2027
600120037 LANE,PETER B. 7.000 .200 6.800 .0400 6.760 12/01/2027
600120038 CUMMINGS,CRAIG A. 7.625 .200 7.425 .0400 7.385 12/01/2027
600120039 WAN,ALAN S 7.875 .200 7.675 .0400 7.635 12/01/2027
600120040 GILE,ALAN P. 7.250 .200 7.050 .0400 7.010 12/01/2012
600120041 SMITH,KURT S. 7.250 .200 7.050 .0400 7.010 12/01/2027
600120042 ROBELL,ALAN 7.750 .200 7.550 .0400 7.510 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>
600120029 SAUER,JONATHAN M 6315675 $2,650.73 01/01/1998 360
600120030 ANGUIANO,MANUEL 6315683 $1,602.37 01/01/1998 360
600120031 CHAU,HANK 6315832 $1,902.80 01/01/1998 360
600120032 PODVALNY,MARK 6315899 $1,672.83 01/01/1998 360
600120033 YANG,FRANK 6316020 $2,288.71 01/01/1998 360
600120034 MAHOWALD,PETER H. 6316335 $3,130.73 01/01/1998 360
600120035 LIPTON,DANIEL 6316533 $2,091.93 19 01/01/1998 360
600120036 WEEMS,WILLIAM T 6316616 $2,072.03 01/01/1998 360
600120037 LANE,PETER B. 6316723 $1,995.91 01/01/1998 360
600120038 CUMMINGS,CRAIG A. 6318448 $1,817.62 01/01/1998 360
600120039 WAN,ALAN S 6320352 $2,392.73 01/01/1998 360
600120040 GILE,ALAN P. 6322408 $2,738.59 01/01/1998 180
600120041 SMITH,KURT S. 6323356 $1,705.45 01/01/1998 360
600120042 ROBELL,ALAN 6323596 $2,220.88 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120029 SAUER,JONATHAN M $537,000.00 N
600120030 ANGUIANO,MANUEL $290,000.00 N
600120031 CHAU,HANK $332,000.00 N
600120032 PODVALNY,MARK $320,000.00 N
600120033 YANG,FRANK $537,500.00 N
600120034 MAHOWALD,PETER H. $751,000.00 N
600120035 LIPTON,DANIEL $342,000.00 N
600120036 WEEMS,WILLIAM T $450,000.00 N
600120037 LANE,PETER B. $565,000.00 N
600120038 CUMMINGS,CRAIG A. $321,000.00 N
600120039 WAN,ALAN S $485,000.00 N
600120040 GILE,ALAN P. $475,000.00 N
600120041 SMITH,KURT S. $312,500.00 N
600120042 ROBELL,ALAN $473,500.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 35
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120043 BAKER,MICHAEL S. 3228 RANKIN STREET UNIVERSITY PARK TX 75205 $233,830.64
600120044 ALCID,EDWARD S. 1054E EVELYN AVENUE SUNNYVALE CA 94086 $247,223.49
600120045 MCGHEE,VICTORIA T. 5219 SOUTH CHARITON A LOS ANGELES CA 90056 $355,700.91
600120046 DAMAN,DARYL N 220 LAUREL HEIGHTS RD LANDENBERG PA 19350 $261,990.32
600120047 THOMPSON,TIMOTHY J. 25942 MATFIELD DRIVE TORRANCE CA 90505 $259,736.55
600120048 GOLBA,THOMAS G. 2156 BESS AVENUE LIVERMORE CA 94550 $372,480.21
600120049 NASHOLD,FREDERICK W 1641 VIA FORTUNA SAN JOSE CA 95120 $363,523.17
600120050 HUFFMAN,CHARLES E. 5908 CASTLEBAR LANE PLANO TX 75093 $313,373.02
600120051 KUTAK,RONALD G 4288 NAVAHO AVENUE NORTH HOLLYWOOD CA 91602 $438,457.69
600120052 BIRDWELL,JEFFREY A. 1852 CAMINO DE LOS ROBLES MENLO PARK CA 94025 $439,689.46
600120053 SOSS,LINDA R 14123 VALERIO STREET VAN NUYS CA 91405 $253,811.50
600120054 HEWITT,JEFF 866 FIELDWOOD COURT SAN JOSE CA 95120 $274,790.74
600120055 MCELWEE III,NEWELL E 154 ROCKAWAY ROAD TEWKSBURY NJ 08833 $583,566.59
600120056 HWANG,CHAN J. 12636 STOUWOOD STREET POWAY CA 92064 $249,360.00
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120043 BAKER,MICHAEL S. 7.625 .200 7.425 .0400 7.385 12/01/2027
600120044 ALCID,EDWARD S. 7.625 .200 7.425 .0400 7.385 12/01/2027
600120045 MCGHEE,VICTORIA T. 6.875 .200 6.675 .0400 6.635 12/01/2027
600120046 DAMAN,DARYL N 7.125 .200 6.925 .0400 6.885 12/01/2027
600120047 THOMPSON,TIMOTHY J. 7.750 .200 7.550 .0400 7.510 12/01/2027
600120048 GOLBA,THOMAS G. 7.625 .200 7.425 .0400 7.385 12/01/2027
600120049 NASHOLD,FREDERICK W 7.375 .200 7.175 .0400 7.135 12/01/2027
600120050 HUFFMAN,CHARLES E. 7.625 .200 7.425 .0400 7.385 12/01/2027
600120051 KUTAK,RONALD G 7.250 .200 7.050 .0400 7.010 12/01/2027
600120052 BIRDWELL,JEFFREY A. 7.750 .200 7.550 .0400 7.510 12/01/2027
600120053 SOSS,LINDA R 7.500 .200 7.300 .0400 7.260 12/01/2027
600120054 HEWITT,JEFF 7.375 .200 7.175 .0400 7.135 12/01/2027
600120055 MCELWEE III,NEWELL E 7.500 .200 7.300 .0400 7.260 12/01/2027
600120056 HWANG,CHAN J. 7.500 .200 7.300 .0400 7.260 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>
600120043 BAKER,MICHAEL S. 6323877 $1,656.24 01/01/1998 360
600120044 ALCID,EDWARD S. 6323901 $1,751.79 01/01/1998 360
600120045 MCGHEE,VICTORIA T. 6324198 $2,338.67 01/01/1998 360
600120046 DAMAN,DARYL N 6324800 $1,766.50 1 01/01/1998 360
600120047 THOMPSON,TIMOTHY J. 6325815 $1,862.10 01/01/1998 360
600120048 GOLBA,THOMAS G. 6325831 $2,638.31 01/01/1998 360
600120049 NASHOLD,FREDERICK W 6326888 $2,512.68 2 01/01/1998 360
600120050 HUFFMAN,CHARLES E. 6327274 $2,219.65 01/01/1998 360
600120051 KUTAK,RONALD G 6328074 $2,993.39 01/01/1998 360
600120052 BIRDWELL,JEFFREY A. 6328496 $3,152.22 01/01/1998 360
600120053 SOSS,LINDA R 6328611 $1,776.01 01/01/1998 360
600120054 HEWITT,JEFF 6328785 $1,899.36 01/01/1998 360
600120055 MCELWEE III,NEWELL E 6331383 $4,083.42 01/01/1998 360
600120056 HWANG,CHAN J. 6340335 $1,745.24 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120043 BAKER,MICHAEL S. $295,000.00 N
600120044 ALCID,EDWARD S. $310,000.00 N
600120045 MCGHEE,VICTORIA T. $445,000.00 N
600120046 DAMAN,DARYL N $276,000.00 N
600120047 THOMPSON,TIMOTHY J. $324,900.00 N
600120048 GOLBA,THOMAS G. $497,000.00 N
600120049 NASHOLD,FREDERICK W $404,264.00 N
600120050 HUFFMAN,CHARLES E. $400,000.00 N
600120051 KUTAK,RONALD G $638,800.00 N
600120052 BIRDWELL,JEFFREY A. $1,100,000.00 N
600120053 SOSS,LINDA R $320,000.00 N
600120054 HEWITT,JEFF $475,000.00 N
600120055 MCELWEE III,NEWELL E $730,000.00 N
600120056 HWANG,CHAN J. $312,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 36
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120057 BREDIN,WILLIAM T 230 GREENBUSH ROAD ORANGEBURG NY 10962 $265,812.26
600120058 JESSEY,KAREN C. 3 MONARCH WAY LINCOLN RI 02865 $249,691.25
600120059 CHAPMAN,LEONARD W 16050 SUNRISE WATCH APPLEGATE CA 95703 $300,363.14
600120060 NELSON,BRUCE A 1390 INDEPENDENCE DRIVE LARKSPUR CO 80118 $285,331.92
600120061 COPELAND,CATHERINE A. 8423 CHATEAU DRIVE NE ALBUQUERQUE NM 87122 $256,323.47
600120062 MEFFORD,JOHN 11803 HARTSOOK STREET VALLEY VILLAGE CA 91607 $246,307.70
600120063 LEVY,STEVEN B. 48 WILLIAM PLACE GLEN ROCK NJ 07452 $249,236.65
600120064 STRACHAN,ANDREW 1037 FOREST AVENUE PACIFIC GROVE CA 93950 $278,787.70
600120065 WILKIE,KATHERINE M. 1032 BARCELONA DRIVE SAN DIEGO CA 92107 $384,714.27
600120066 HERMAN,JEFFREY M. 12360 NORTHWEST 7TH STREE PLANTATION FL 33325 $431,679.39
600120067 YOUNKER,STEPHEN A 14780 TIETON DRIVE YAKIMA WA 98908 $370,967.51
600120068 SCHWAB,KENNETH S. 22 WEXFORD LANE LINWOOD NJ 08221 $396,995.14
600120069 AMICO,THOMAS J 5 BAY AVENUE SHELTER ISLAND NY 11964 $246,425.95
600120070 TURNER,GARY S. LOT 4 TURTLEBACK MOUNT WICKENBURG AZ 85358 $233,692.83
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120057 BREDIN,WILLIAM T 7.750 .200 7.550 .0400 7.510 12/01/2027
600120058 JESSEY,KAREN C. 6.750 .200 6.550 .0400 6.510 12/01/2027
600120059 CHAPMAN,LEONARD W 7.875 .200 7.675 .0400 7.635 12/01/2027
600120060 NELSON,BRUCE A 7.000 .200 6.800 .0400 6.760 12/01/2027
600120061 COPELAND,CATHERINE A. 7.875 .200 7.675 .0400 7.635 12/01/2027
600120062 MEFFORD,JOHN 7.250 .200 7.050 .0400 7.010 12/01/2027
600120063 LEVY,STEVEN B. 7.375 .200 7.175 .0400 7.135 12/01/2012
600120064 STRACHAN,ANDREW 7.375 .200 7.175 .0400 7.135 12/01/2027
600120065 WILKIE,KATHERINE M. 7.500 .200 7.300 .0400 7.260 12/01/2027
600120066 HERMAN,JEFFREY M. 7.500 .200 7.300 .0400 7.260 12/01/2027
600120067 YOUNKER,STEPHEN A 7.375 .200 7.175 .0400 7.135 12/01/2027
600120068 SCHWAB,KENNETH S. 8.125 .200 7.925 .0400 7.885 12/01/2027
600120069 AMICO,THOMAS J 7.750 .200 7.550 .0400 7.510 12/01/2027
600120070 TURNER,GARY S. 8.125 .200 7.925 .0400 7.885 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>
600120057 BREDIN,WILLIAM T 6340665 $1,905.66 01/01/1998 360
600120058 JESSEY,KAREN C. 6349161 $1,621.50 01/01/1998 360
600120059 CHAPMAN,LEONARD W 6349823 $2,179.35 01/01/1998 360
600120060 NELSON,BRUCE A 6350938 $1,899.88 01/01/1998 360
600120061 COPELAND,CATHERINE A. 6358915 $1,859.81 19 01/01/1998 360
600120062 MEFFORD,JOHN 6359582 $1,681.57 19 01/01/1998 360
600120063 LEVY,STEVEN B. 6376065 $2,299.81 01/01/1998 180
600120064 STRACHAN,ANDREW 6378897 $1,926.99 19 01/01/1998 360
600120065 WILKIE,KATHERINE M. 6383723 $2,691.98 01/01/1998 360
600120066 HERMAN,JEFFREY M. 6393656 $3,020.61 19 01/01/1998 360
600120067 YOUNKER,STEPHEN A 6407936 $2,564.14 01/01/1998 360
600120068 SCHWAB,KENNETH S. 6429245 $2,949.61 19 01/01/1998 360
600120069 AMICO,THOMAS J 6433957 $1,766.68 2 01/01/1998 360
600120070 TURNER,GARY S. 8638009 $1,737.44 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120057 BREDIN,WILLIAM T $332,500.00 N
600120058 JESSEY,KAREN C. $350,000.00 N
600120059 CHAPMAN,LEONARD W $405,000.00 N
600120060 NELSON,BRUCE A $357,043.00 N
600120061 COPELAND,CATHERINE A. $285,000.00 N
600120062 MEFFORD,JOHN $290,000.00 N
600120063 LEVY,STEVEN B. $351,000.00 N
600120064 STRACHAN,ANDREW $310,000.00 N
600120065 WILKIE,KATHERINE M. $718,000.00 N
600120066 HERMAN,JEFFREY M. $480,000.00 N
600120067 YOUNKER,STEPHEN A $495,000.00 N
600120068 SCHWAB,KENNETH S. $430,000.00 N
600120069 AMICO,THOMAS J $274,000.00 N
600120070 TURNER,GARY S. $260,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 37
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120072 WILLIAMS,STEVEN ROBERT 3490 KAHAWALU DRIVE HONOLULU HI 96817 $419,664.13
600120073 HARDIN,VICTOR 275 SAXONY WOODS DRI TROY OH 45373 $260,408.69
600120074 MARINELLO,SALVATORE 512 APACHE TRAIL MORGANVILLE NJ 07751 $249,800.08
600120075 ASSENZO,JOSEPH R. 105 MAJOR DRIVE NORTH WALES PA 19454 $249,827.95
600120076 LIVINGSTON,RICHARD 9858 NORTH HOUSTON OAK DR COLLIERVILLE TN 38017 $256,316.61
600120077 EWELL,JOHN R. 1038 BALMORAL WAY MAPLE GLEN PA 19002 $238,922.03
600120078 NAJM,TAREK 8227 NORTHEAST 115TH WAY KIRKLAND WA 98034 $236,515.34
600120079 KUHN,JOHN J. 8101 LEE JACKSON CIRC SPOTSYLVANIA VA 22553 $229,484.72
600120080 HERRON,NIGEL G. 4628 FALLSTONE COURT SAN JOSE CA 95124 $329,944.05
600120081 HALE,CLARK R. 12 BERKSHIRE CT. LEBANON NJ 08833 $249,789.96
600120082 MCALLISTER,WILLIAM G. 3825 CHAPPARAL DRIVE FAIRFIELD CA 94533 $226,802.07
600120084 CANTON,DANNY E 8 LANCELOT ROAD SHREWSBURY MA 01545 $282,510.18
600120086 MULRINE,JAMES A 232 57TH STREET AVALON NJ 08202 $299,032.77
600120087 KOSKINAS,JOHN D. 35 PRINCESS PINE DRIVE EAST GREENWICH RI 02818 $324,770.61
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120072 WILLIAMS,STEVEN ROBERT 7.125 .200 6.925 .0400 6.885 12/01/2027
600120073 HARDIN,VICTOR 7.500 .200 7.300 .0400 7.260 11/01/2027
600120074 MARINELLO,SALVATORE 7.125 .200 6.925 .0400 6.885 12/01/2027
600120075 ASSENZO,JOSEPH R. 7.875 .200 7.675 .0400 7.635 12/01/2027
600120076 LIVINGSTON,RICHARD 6.750 .200 6.550 .0400 6.510 11/01/2027
600120077 EWELL,JOHN R. 7.125 .200 6.925 .0400 6.885 12/01/2027
600120078 NAJM,TAREK 7.250 .200 7.050 .0400 7.010 12/01/2027
600120079 KUHN,JOHN J. 7.500 .200 7.300 .0400 7.260 10/01/2027
600120080 HERRON,NIGEL G. 7.250 .200 7.050 .0400 7.010 11/01/2012
600120081 HALE,CLARK R. 6.875 .200 6.675 .0400 6.635 12/01/2027
600120082 MCALLISTER,WILLIAM G. 7.625 .200 7.425 .0400 7.385 09/01/2027
600120084 CANTON,DANNY E 7.500 .200 7.300 .0400 7.260 12/01/2027
600120086 MULRINE,JAMES A 6.750 .200 6.550 .0400 6.510 12/01/2012
600120087 KOSKINAS,JOHN D. 7.750 .200 7.550 .0400 7.510 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>
600120072 WILLIAMS,STEVEN ROBERT 9051889 $2,829.62 01/01/1998 360
600120073 HARDIN,VICTOR 9294588 $1,823.53 19 01/01/1998 360
600120074 MARINELLO,SALVATORE 9300781 $1,684.30 01/01/1998 360
600120075 ASSENZO,JOSEPH R. 9426040 $1,812.68 01/01/1998 360
600120076 LIVINGSTON,RICHARD 9427519 $1,665.35 19 01/01/1998 360
600120077 EWELL,JOHN R. 9467929 $1,613.56 01/01/1998 360
600120078 NAJM,TAREK 9468703 $1,614.72 19 01/01/1998 360
600120079 KUHN,JOHN J. 9549999 $1,608.19 01/01/1998 360
600120080 HERRON,NIGEL G. 9551904 $3,030.71 01/01/1998 180
600120081 HALE,CLARK R. 9576075 $1,642.33 01/01/1998 360
600120082 MCALLISTER,WILLIAM G. 9661125 $1,610.84 19 01/01/1998 360
600120084 CANTON,DANNY E 9692419 $1,976.82 01/01/1998 360
600120086 MULRINE,JAMES A 9712613 $2,654.73 01/01/1998 180
600120087 KOSKINAS,JOHN D. 9719485 $2,328.35 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120072 WILLIAMS,STEVEN ROBERT $525,000.00 N
600120073 HARDIN,VICTOR $289,775.00 N
600120074 MARINELLO,SALVATORE $530,000.00 N
600120075 ASSENZO,JOSEPH R. $326,380.00 N
600120076 LIVINGSTON,RICHARD $284,900.00 N
600120077 EWELL,JOHN R. $299,405.00 N
600120078 NAJM,TAREK $263,000.00 N
600120079 KUHN,JOHN J. $345,000.00 N
600120080 HERRON,NIGEL G. $415,000.00 N
600120081 HALE,CLARK R. $469,000.00 N
600120082 MCALLISTER,WILLIAM G. $245,000.00 N
600120084 CANTON,DANNY E $353,400.00 N
600120086 MULRINE,JAMES A $485,000.00 N
600120087 KOSKINAS,JOHN D. $465,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 38
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120088 FLANDERS,JEFFERSON M. 73 BLOOMFIELD ST LEXINGTON MA 02173 $333,677.46
600120089 CARTER,J. SCOTT 257 S NORTON AVENUE LOS ANGELES CA 90004 $499,769.53
600120091 BASILE,THOMAS V. 216 BORDEN ROAD MIDDLETOWN NJ 07748 $306,765.64
600120093 DENNIS,MICHAEL 1714 232ND AVENUE NORTHEA REDMOND WA 98052 $305,214.32
600120094 SCHONEMAN,WILLIAM A. 70 TOWER HILL ROAD MOUNTAIN LAKES NJ 07046 $368,574.89
600120095 VOGEL,CHRISTOPHER 5934 PORTO ALEGRE DRIVE SAN JOSE CA 95120 $274,580.20
600120096 MARLOW,JOHN C 480 RED ROCK ROAD WYCKOFF NJ 07481 $491,016.66
600120097 PISCHL,NEVEN 149 MICHAEL WAY SANTA CLARA CA 95051 $304,656.95
600120099 GERMANO,MICHELLE 2664 WIMBLEDON POINT DRIV VIRGINIA BEACH VA 23454 $324,516.08
600120101 RHODES,TIMOTHY 6447 HIDDEN CREEK COURT SAN JOSE CA 95120 $267,016.11
600120102 WOO,ELAINE 726- 728 20TH AVENUE SAN FRANCISCO CA 94121 $299,166.00
600120103 SARRIS,DORIAN P. 2167 TURK BOULEVARD SAN FRANCISCO CA 94115 $488,876.44
600120104 MASON,JOHN E. 927-929 WISCONSIN STREET SAN FRANCISCO CA 94107 $303,691.30
600120105 DAVIS,LEWIS F. 713-7131/2LARKSPUR CORONA DEL MAR CA 92625 $487,291.34
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120088 FLANDERS,JEFFERSON M. 7.250 .200 7.050 .0400 7.010 08/01/2027
600120089 CARTER,J. SCOTT 8.375 .200 8.175 .0400 8.135 06/01/2027
600120091 BASILE,THOMAS V. 7.375 .200 7.175 .0400 7.135 12/01/2027
600120093 DENNIS,MICHAEL 7.500 .200 7.300 .0400 7.260 12/01/2027
600120094 SCHONEMAN,WILLIAM A. 7.375 .200 7.175 .0400 7.135 08/01/2027
600120095 VOGEL,CHRISTOPHER 7.375 .200 7.175 .0400 7.135 11/01/2027
600120096 MARLOW,JOHN C 7.250 .200 7.050 .0400 7.010 12/01/2027
600120097 PISCHL,NEVEN 7.625 .200 7.425 .0400 7.385 11/01/2027
600120099 GERMANO,MICHELLE 7.500 .200 7.300 .0400 7.260 11/01/2027
600120101 RHODES,TIMOTHY 7.875 .200 7.675 .0400 7.635 12/01/2027
600120102 WOO,ELAINE 7.875 .200 7.675 .0400 7.635 09/01/2027
600120103 SARRIS,DORIAN P. 7.125 .200 6.925 .0400 6.885 11/01/2012
600120104 MASON,JOHN E. 7.625 .200 7.425 .0400 7.385 12/01/2027
600120105 DAVIS,LEWIS F. 7.625 .200 7.425 .0400 7.385 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>
600120088 FLANDERS,JEFFERSON M. 9741042 $2,285.29 01/01/1998 360
600120089 CARTER,J. SCOTT 9747403 $3,815.57 19 01/01/1998 360
600120091 BASILE,THOMAS V. 9785064 $2,127.28 01/01/1998 360
600120093 DENNIS,MICHAEL 9812314 $2,135.69 01/01/1998 360
600120094 SCHONEMAN,WILLIAM A. 9831827 $2,555.50 01/01/1998 360
600120095 VOGEL,CHRISTOPHER 9834664 $1,899.36 01/01/1998 360
600120096 MARLOW,JOHN C 9857673 $3,352.22 19 01/01/1998 360
600120097 PISCHL,NEVEN 9907155 $2,159.48 19 01/01/1998 360
600120099 GERMANO,MICHELLE 9918517 $2,272.45 01/01/1998 360
600120101 RHODES,TIMOTHY 9944836 $1,937.39 01/01/1998 360
600120102 WOO,ELAINE 5486634 $2,175.21 01/01/1998 360
600120103 SARRIS,DORIAN P. 5803556 $4,456.69 01/01/1998 180
600120104 MASON,JOHN E. 6264832 $2,151.70 01/01/1998 360
600120105 DAVIS,LEWIS F. 6267900 $3,454.04 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120088 FLANDERS,JEFFERSON M. $485,000.00 N
600120089 CARTER,J. SCOTT $558,000.00 N
600120091 BASILE,THOMAS V. $385,000.00 N
600120093 DENNIS,MICHAEL $382,279.00 N
600120094 SCHONEMAN,WILLIAM A. $490,000.00 N
600120095 VOGEL,CHRISTOPHER $535,000.00 N
600120096 MARLOW,JOHN C $546,055.00 N
600120097 PISCHL,NEVEN $339,000.00 N
600120099 GERMANO,MICHELLE $469,000.00 N
600120101 RHODES,TIMOTHY $334,000.00 N
600120102 WOO,ELAINE $458,500.00 N
600120103 SARRIS,DORIAN P. $620,000.00 N
600120104 MASON,JOHN E. $380,000.00 N
600120105 DAVIS,LEWIS F. $610,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 39
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120106 STENER,GAVIN THOMAS 4405- 4407 WESTWAY AVE DALLAS TX 75205 $373,129.74
600120107 RAFFERTY,MICHAEL T. 4622-4626 17TH STREET SAN FRANCISCO CA 94117 $479,385.74
600120108 LICHTMACHER,JONATHAN E 141-147 PARNASSUS AVENUE SAN FRANCISCO CA 94117 $446,689.19
600120109 LIEBST, JR.,EDWARD G. 305-307 COLLINGWOOD STREE SAN FRANCISCO CA 94114 $484,295.71
600120110 MAISEL,STEVE 3621 CABERNET VINEYAR SAN JOSE CA 95117 $229,277.87
600120112 DOBLITZ,JACK 235 S REEVES DR #105 BEVERLY HILLS CA 90212 $318,402.72
600120113 BEHRNDT,LESLIE C. 421 GOLDENROD AVENUE, #A CORONA DEL MAR CA 92625 $368,114.19
600120114 BEER,DOUGLAS 3241 NORTH SEMINARY AVENU CHICAGO IL 60657 $302,620.84
600120115 TAUSCHER,DONNA M. 1855 SACRAMENTO STREET, # SAN FRANCISCO CA 94115 $259,473.13
600120116 EVANS,MICHAEL 752 N 746 W #B9 MIDWAY UT 84049 $298,221.62
600120117 DEMAK,BARRY E 144 SOUTH 3RD STREET UNIT SAN JOSE CA 95112 $291,777.80
600120118 GOLDBERG,JAN 133 WEST VICTORIA COURT FORT LEE NJ 07024 $299,793.54
600120119 UVEGES,GEORGE 207 WILLOW BROOK DRIVE WAYLAND MA 01778 $268,144.60
600120120 JENSEN,JACOB S. 114 EAST YALE LOOP IRVINE CA 92604 $253,170.69
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120106 STENER,GAVIN THOMAS 7.625 .200 7.425 .0400 7.385 12/01/2027
600120107 RAFFERTY,MICHAEL T. 8.250 .200 8.050 .0400 8.010 11/01/2027
600120108 LICHTMACHER,JONATHAN E 7.625 .200 7.425 .0400 7.385 11/01/2027
600120109 LIEBST, JR.,EDWARD G. 7.625 .200 7.425 .0400 7.385 11/01/2027
600120110 MAISEL,STEVE 7.625 .200 7.425 .0400 7.385 09/01/2027
600120112 DOBLITZ,JACK 7.625 .200 7.425 .0400 7.385 10/01/2027
600120113 BEHRNDT,LESLIE C. 8.125 .200 7.925 .0400 7.885 11/01/2027
600120114 BEER,DOUGLAS 7.750 .200 7.550 .0400 7.510 11/01/2027
600120115 TAUSCHER,DONNA M. 8.000 .200 7.800 .0400 7.760 10/01/2027
600120116 EVANS,MICHAEL 7.750 .200 7.550 .0400 7.510 11/01/2012
600120117 DEMAK,BARRY E 7.375 .200 7.175 .0400 7.135 12/01/2027
600120118 GOLDBERG,JAN 7.875 .200 7.675 .0400 7.635 12/01/2027
600120119 UVEGES,GEORGE 7.000 .200 6.800 .0400 6.760 11/01/2012
600120120 JENSEN,JACOB S. 7.750 .200 7.550 .0400 7.510 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>
600120106 STENER,GAVIN THOMAS 6332431 $2,642.91 01/01/1998 360
600120107 RAFFERTY,MICHAEL T. 5591821 $3,606.08 01/01/1998 360
600120108 LICHTMACHER,JONATHAN E 5805288 $3,170.92 01/01/1998 360
600120109 LIEBST, JR.,EDWARD G. 5815592 $3,432.80 01/01/1998 360
600120110 MAISEL,STEVE 5205471 $1,627.58 19 01/01/1998 360
600120112 DOBLITZ,JACK 5520788 $2,258.57 19 01/01/1998 360
600120113 BEHRNDT,LESLIE C. 5530936 $2,738.33 01/01/1998 360
600120114 BEER,DOUGLAS 5572375 $2,171.09 19 01/01/1998 360
600120115 TAUSCHER,DONNA M. 5608674 $1,907.79 01/01/1998 360
600120116 EVANS,MICHAEL 5633623 $2,823.83 01/01/1998 180
600120117 DEMAK,BARRY E 5673231 $2,016.78 01/01/1998 360
600120118 GOLDBERG,JAN 5705652 $2,175.21 01/01/1998 360
600120119 UVEGES,GEORGE 5705777 $2,426.84 01/01/1998 180
600120120 JENSEN,JACOB S. 5708672 $1,817.18 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120106 STENER,GAVIN THOMAS $532,177.00 N
600120107 RAFFERTY,MICHAEL T. $600,000.00 N
600120108 LICHTMACHER,JONATHAN E $640,000.00 N
600120109 LIEBST, JR.,EDWARD G. $660,000.00 N
600120110 MAISEL,STEVE $269,950.00 N
600120112 DOBLITZ,JACK $355,000.00 N
600120113 BEHRNDT,LESLIE C. $500,000.00 N
600120114 BEER,DOUGLAS $319,000.00 N
600120115 TAUSCHER,DONNA M. $325,000.00 N
600120116 EVANS,MICHAEL $586,000.00 N
600120117 DEMAK,BARRY E $365,000.00 N
600120118 GOLDBERG,JAN $485,000.00 N
600120119 UVEGES,GEORGE $471,000.00 N
600120120 JENSEN,JACOB S. $267,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 40
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120121 AINGE,E DONALD 125 SURF WAY #415 MONTEREY CA 93940 $256,645.10
600120122 BOLLES,SUSAN M. 113 LYON STREET SAN FRANCISCO CA 94117 $291,766.49
600120123 MORELLI,SANDY 435 ALBERTO WAY LOS GATOS CA 95032 $239,830.61
600120124 HEARTH,DAVID A. 1708 VALLEJO STREET SAN FRANCISCO CA 94123 $345,755.79
600120125 ROSENFELD,JOSHUA 652 LOMBARD STREET SAN FRANCISCO CA 94133 $249,788.54
600120126 YAMADA,LINDA K. 514 NORTH JUANITA AV REDONDO BEACH CA 90277 $323,477.23
600120127 CHANDIRAMANI,ANJNA 150 WEST 56TH ST UN#5902 NEW YORK NY 10019 $362,690.18
600120128 BREWER,CHARLES 65 BARCELONA DR RANCHO MIRAGE CA 92270 $225,431.24
600120129 MARTIN,DOUGLAS JAMES 2266 PACIFIC AVE UNIT 1 SAN FRANCISCO CA 94115 $399,447.63
600120130 TILNEY,CORNELIA K. 2047 GREENE STREET SAN FRANCISCO CA 94123 $340,447.30
600120131 CHA,IMOK 9 HUGO STREET SAN FRANCISCO CA 94122 $237,853.15
600120132 KJENNER,JOHN E 2401 3RD STREET SANTA MONICA CA 90405 $318,627.97
600120134 FRIEDMAN,HARRY 120 SOUTH PALM DRIVE #203 BEVERLY HILLS CA 90212 $299,793.54
600120135 ZUFFI,VALERIE 4 BRIGANTINE LANE REDWOOD CITY CA 94065 $259,821.06
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120121 AINGE,E DONALD 7.875 .200 7.675 .0400 7.635 11/01/2027
600120122 BOLLES,SUSAN M. 7.125 .200 6.925 .0400 6.885 12/01/2027
600120123 MORELLI,SANDY 7.750 .200 7.550 .0400 7.510 12/01/2027
600120124 HEARTH,DAVID A. 7.750 .200 7.550 .0400 7.510 12/01/2027
600120125 ROSENFELD,JOSHUA 7.625 .200 7.425 .0400 7.385 12/01/2027
600120126 YAMADA,LINDA K. 7.875 .200 7.675 .0400 7.635 12/01/2027
600120127 CHANDIRAMANI,ANJNA 7.000 .200 6.800 .0400 6.760 11/01/2012
600120128 BREWER,CHARLES 7.125 .200 6.925 .0400 6.885 11/01/2012
600120129 MARTIN,DOUGLAS JAMES 7.875 .200 7.675 .0400 7.635 11/01/2027
600120130 TILNEY,CORNELIA K. 7.625 .200 7.425 .0400 7.385 11/01/2012
600120131 CHA,IMOK 7.625 .200 7.425 .0400 7.385 11/01/2027
600120132 KJENNER,JOHN E 7.250 .200 7.050 .0400 7.010 11/01/2027
600120134 FRIEDMAN,HARRY 7.875 .200 7.675 .0400 7.635 12/01/2027
600120135 ZUFFI,VALERIE 7.875 .200 7.675 .0400 7.635 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>
600120121 AINGE,E DONALD 5720750 $1,863.43 01/01/1998 360
600120122 BOLLES,SUSAN M. 5732953 $1,967.26 01/01/1998 360
600120123 MORELLI,SANDY 5783105 $1,719.39 01/01/1998 360
600120124 HEARTH,DAVID A. 5798145 $2,478.79 01/01/1998 360
600120125 ROSENFELD,JOSHUA 5798483 $1,769.49 01/01/1998 360
600120126 YAMADA,LINDA K. 5807011 $2,347.05 01/01/1998 360
600120127 CHANDIRAMANI,ANJNA 5809025 $3,280.73 01/01/1998 180
600120128 BREWER,CHARLES 5813175 $2,065.30 01/01/1998 180
600120129 MARTIN,DOUGLAS JAMES 5817549 $2,900.28 01/01/1998 360
600120130 TILNEY,CORNELIA K. 5817614 $3,199.40 01/01/1998 180
600120131 CHA,IMOK 5818307 $1,687.39 01/01/1998 360
600120132 KJENNER,JOHN E 5899158 $2,179.56 19 01/01/1998 360
600120134 FRIEDMAN,HARRY 6256465 $2,175.21 01/01/1998 360
600120135 ZUFFI,VALERIE 6258792 $1,885.19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120121 AINGE,E DONALD $349,500.00 N
600120122 BOLLES,SUSAN M. $365,000.00 N
600120123 MORELLI,SANDY $300,000.00 N
600120124 HEARTH,DAVID A. $600,000.00 N
600120125 ROSENFELD,JOSHUA $500,000.00 N
600120126 YAMADA,LINDA K. $410,000.00 N
600120127 CHANDIRAMANI,ANJNA $565,000.00 N
600120128 BREWER,CHARLES $295,000.00 N
600120129 MARTIN,DOUGLAS JAMES $650,000.00 N
600120130 TILNEY,CORNELIA K. $790,000.00 N
600120131 CHA,IMOK $298,000.00 N
600120132 KJENNER,JOHN E $355,000.00 N
600120134 FRIEDMAN,HARRY $400,000.00 N
600120135 ZUFFI,VALERIE $325,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 41
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120136 PELHAM,MICHAEL 1355 G SAGE HEN WAY SUNNYVALE CA 94087 $238,373.78
600120137 GALLANT,JOEL L. 822 PACIFIC STREET, #3 SANTA MONICA CA 90405 $237,414.64
600120138 STOIMIROV,IVAN 103 PACCHETTI WAY MOUNTAIN VIEW CA 94040 $265,730.44
600120139 DREW,DENIS W. 1412 JACKSON STREET SAN FRANCISCO CA 94109 $522,162.37
600120140 HOWE,JOHN G 14 CAYMAN COURT MANHATTAN BEACH CA 90266 $244,808.87
600120141 PAGANO,TINO J. 7 MIRADOR IRVINE CA 92612 $319,768.39
600120142 SLOVER,THOMAS J. 540 DELANCEY STREET #402 SAN FRANCISCO CA 94107 $258,441.75
600120143 PAISLEY,JAMES A. HOMESI LEDGES AT NEWFOU HEBRON NH 03222 $229,177.78
600120144 FEDOROFF,ALEX G 26 FIFER LANE LEXINGTON MA 02173 $227,833.84
600120145 AITA,ELOISE 14 GOVERNORS LANE PRINCETON NJ 08540 $468,544.20
600120147 WILSON,G. R. 4204 SOUTH OLSON STREET KENNEWICK WA 99337 $308,884.59
600120148 CASTELLON-VOGEL,MARTHA A 852 MIAMI RIDGE LOVELAND OH 45140 $288,763.10
600120149 MAY,THEODORE W. 10851 WEISIGER LANE OAKTON VA 22124 $285,277.28
600120150 FINN,LARRY 973 LAKE CREST PARKWAY BIRMINGHAM AL 35226 $298,346.12
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120136 PELHAM,MICHAEL 7.625 .200 7.425 .0400 7.385 12/01/2012
600120137 GALLANT,JOEL L. 7.250 .200 7.050 .0400 7.010 12/01/2027
600120138 STOIMIROV,IVAN 8.250 .200 8.050 .0400 8.010 12/01/2027
600120139 DREW,DENIS W. 7.375 .200 7.175 .0400 7.135 12/01/2027
600120140 HOWE,JOHN G 7.250 .200 7.050 .0400 7.010 12/01/2027
600120141 PAGANO,TINO J. 7.625 .200 7.425 .0400 7.385 12/01/2027
600120142 SLOVER,THOMAS J. 7.625 .200 7.425 .0400 7.385 11/01/2012
600120143 PAISLEY,JAMES A. 7.750 .200 7.550 .0400 7.510 08/01/2027
600120144 FEDOROFF,ALEX G 7.125 .200 6.925 .0400 6.885 10/01/2012
600120145 AITA,ELOISE 7.250 .200 7.050 .0400 7.010 12/01/2027
600120147 WILSON,G. R. 7.500 .200 7.300 .0400 7.260 12/01/2027
600120148 CASTELLON-VOGEL,MARTHA A 7.000 .200 6.800 .0400 6.760 12/01/2027
600120149 MAY,THEODORE W. 7.250 .200 7.050 .0400 7.010 12/01/2027
600120150 FINN,LARRY 7.625 .575 7.050 .0400 7.010 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>
600120136 PELHAM,MICHAEL 6293351 $2,234.44 01/01/1998 180
600120137 GALLANT,JOEL L. 6301766 $1,620.86 01/01/1998 360
600120138 STOIMIROV,IVAN 6304703 $1,997.62 01/01/1998 360
600120139 DREW,DENIS W. 6315741 $3,609.20 01/01/1998 360
600120140 HOWE,JOHN G 6325740 $1,671.34 01/01/1998 360
600120141 PAGANO,TINO J. 6333652 $2,264.94 01/01/1998 360
600120142 SLOVER,THOMAS J. 8954471 $2,428.74 01/01/1998 180
600120143 PAISLEY,JAMES A. 9040064 $1,647.75 01/01/1998 360
600120144 FEDOROFF,ALEX G 9391160 $2,083.41 01/01/1998 180
600120145 AITA,ELOISE 9699620 $3,198.80 01/01/1998 360
600120147 WILSON,G. R. 5118211 $2,161.37 01/01/1998 360
600120148 CASTELLON-VOGEL,MARTHA A 5215017 $1,922.73 19 01/01/1998 360
600120149 MAY,THEODORE W. 5223227 $1,947.62 01/01/1998 360
600120150 FINN,LARRY 5430624 $2,114.75 3 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120136 PELHAM,MICHAEL $299,000.00 N
600120137 GALLANT,JOEL L. $297,000.00 N
600120138 STOIMIROV,IVAN $332,379.00 N
600120139 DREW,DENIS W. $653,200.00 N
600120140 HOWE,JOHN G $445,000.00 N
600120141 PAGANO,TINO J. $400,000.00 N
600120142 SLOVER,THOMAS J. $450,000.00 N
600120143 PAISLEY,JAMES A. $316,000.00 N
600120144 FEDOROFF,ALEX G $319,000.00 N
600120145 AITA,ELOISE $586,137.67 N
600120147 WILSON,G. R. $530,000.00 N
600120148 CASTELLON-VOGEL,MARTHA A $328,439.00 N
600120149 MAY,THEODORE W. $379,000.00 N
600120150 FINN,LARRY $331,981.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 42
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120151 COMITALO,JEFFREY B 3045 GREYSTONE DRIVE PACE FL 32571 $329,721.59
600120152 O'CONNOR,JERROLD G. 12410 FAIRBANKS DRIVE TUSTIN CA 92782 $432,850.07
600120154 BARONIAN,GINA 235 LAURELGLEN COURT DANVILLE CA 94506 $349,425.86
600120155 MEURY,THOMAS 17 COTTON FARM LANE NORTH HAMPTON NH 03862 $576,702.52
600120156 ROSENBAUM,IRA A 20284 NORTH GLEN SQUARE CUPERTINO CA 95014 $227,333.60
600120157 SALA JR,STEPHEN L 4229 257TH PLACE SOUTHEAS ISSAQUAH WA 98029 $241,739.53
600120158 VAN WART,WAYNE 1005 HORIZON COURT DANVILLE CA 94506 $229,072.62
600120159 KOHLHEIM,PAUL A. 10 THE CROFT ATLANTA GA 30342 $527,556.41
600120160 MARTIN,MARILYN L. 2 MOUNTAIN LAUREL LANE DANBURY CT 06811 $229,557.14
600120161 DRAKE,JAMES J. 45416 GLENGARRY BOULEVARD CANTON MI 48188 $267,790.93
600120163 HODGE,JOHN W 2023 WHITE EAGLE LANE KATY TX 77494 $319,310.04
600120164 BARANSY,JOHN H 22 WEST 500 LAKESIDE DRIV GLEN ELLYN IL 60137 $229,484.69
600120165 HUFFMAN,JOHN W 2483 CHELMSFORD DRIVE CROFTON MD 21114 $229,931.48
600120166 THROCKMORTON,JANE C. 220 NORTHLAND RIDGE TRAIL ATLANTA GA 30342 $296,132.16
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120151 COMITALO,JEFFREY B 7.750 .200 7.550 .0400 7.510 12/01/2017
600120152 O'CONNOR,JERROLD G. 7.250 .200 7.050 .0400 7.010 12/01/2027
600120154 BARONIAN,GINA 7.875 .200 7.675 .0400 7.635 09/01/2027
600120155 MEURY,THOMAS 7.875 .200 7.675 .0400 7.635 11/01/2027
600120156 ROSENBAUM,IRA A 7.625 .200 7.425 .0400 7.385 09/01/2027
600120157 SALA JR,STEPHEN L 7.500 .200 7.300 .0400 7.260 11/01/2027
600120158 VAN WART,WAYNE 7.375 .200 7.175 .0400 7.135 10/01/2027
600120159 KOHLHEIM,PAUL A. 6.875 .200 6.675 .0400 6.635 12/01/2027
600120160 MARTIN,MARILYN L. 7.500 .200 7.300 .0400 7.260 11/01/2027
600120161 DRAKE,JAMES J. 7.250 .200 7.050 .0400 7.010 12/01/2027
600120163 HODGE,JOHN W 7.000 .200 6.800 .0400 6.760 12/01/2027
600120164 BARANSY,JOHN H 7.500 .200 7.300 .0400 7.260 10/01/2027
600120165 HUFFMAN,JOHN W 7.625 .200 7.425 .0400 7.385 10/01/2027
600120166 THROCKMORTON,JANE C. 7.875 .200 7.675 .0400 7.635 12/01/2012
<CAPTION>
MI INTEREST LOAN
LOAN # BORROWER S/S LOAN # P & I PMT CO PAID-TO TERM
------ -------------------- --------------- --------- -- -------- ----
<S> <C> <C> <C> <C> <C> <C>
600120151 COMITALO,JEFFREY B 5448758 $2,711.60 19 01/01/1998 240
600120152 O'CONNOR,JERROLD G. 5452594 $2,955.11 01/01/1998 360
600120154 BARONIAN,GINA 5463336 $2,540.65 01/01/1998 360
600120155 MEURY,THOMAS 5468319 $4,187.28 01/01/1998 360
600120156 ROSENBAUM,IRA A 5478383 $1,613.77 01/01/1998 360
600120157 SALA JR,STEPHEN L 5482096 $1,692.80 19 01/01/1998 360
600120158 VAN WART,WAYNE 5497011 $1,585.80 01/01/1998 360
600120159 KOHLHEIM,PAUL A. 5526280 $3,468.59 01/01/1998 360
600120160 MARTIN,MARILYN L. 5539382 $1,608.20 01/01/1998 360
600120161 DRAKE,JAMES J. 5542113 $1,828.24 19 01/01/1998 360
600120163 HODGE,JOHN W 5548656 $2,126.13 19 01/01/1998 360
600120164 BARANSY,JOHN H 5550868 $1,608.20 19 01/01/1998 360
600120165 HUFFMAN,JOHN W 5553821 $1,632.11 19 01/01/1998 360
600120166 THROCKMORTON,JANE C. 5580881 $2,816.90 01/01/1998 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>
600120151 COMITALO,JEFFREY B $367,000.00 N
600120152 O'CONNOR,JERROLD G. $563,573.00 N
600120154 BARONIAN,GINA $438,000.00 N
600120155 MEURY,THOMAS $832,000.00 N
600120156 ROSENBAUM,IRA A $285,000.00 N
600120157 SALA JR,STEPHEN L $269,000.00 N
600120158 VAN WART,WAYNE $538,500.00 N
600120159 KOHLHEIM,PAUL A. $660,000.00 N
600120160 MARTIN,MARILYN L. $400,000.00 N
600120161 DRAKE,JAMES J. $297,975.00 N
600120163 HODGE,JOHN W $355,172.00 N
600120164 BARANSY,JOHN H $260,000.00 N
600120165 HUFFMAN,JOHN W $268,000.00 N
600120166 THROCKMORTON,JANE C. $800,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 43
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120167 ANKER,ANTHONY L. 705 BENJAMIN COURT/6 ASHLAND OR 97520 $380,105.50
600120168 GERACI,VINCENT 3404 BARTON POINT DRIVE AUSTIN TX 78733 $229,509.85
600120169 BRANDEBERRY,TERRY L. 12299 ATRIUM CIRCLE SARATOGA CA 95070 $249,819.05
600120170 ONTIVAROS,MICHAEL 7740 CALLE MAJOR CARLSBAD CA 92009 $233,430.92
600120171 FLAHERTY,DANIEL G. 2450 EAST DESERT FLOWER L PHOENIX AZ 85048 $241,704.28
600120172 HALL, JR.,ROBERT B. 1226 PLUM TREE ROAD CARLSBAD CA 92009 $284,893.05
600120173 BUCHANAN,MARK T. 379 CATALINA SHORE DRIVE COSTA MESA CA 92627 $291,844.70
600120174 SHUTT,WILLIAM L 10116 SPICEWOOD MESA AUSTIN TX 78759 $284,111.81
600120175 BEST,MICHAEL B 10704 SCIOTO COURT AUSTIN TX 78747 $280,186.40
600120176 DRAPER,CHRISTOPHER A. 5203 EAST WAGONER ROAD SCOTTSDALE AZ 85254 $254,546.51
600120177 SHREINER,DAVID R. 294 SOUTH RENGSTORFF AVEN MOUNTAIN VIEW CA 94041 $273,730.89
600120178 BITHELL,SUSAN 19615 SHADOW GLENN CR NORTHRIDGE CA 91326 $232,284.49
600120179 ROSENFELD,TEDD C. 30196 SKIPPER'S WAY CANYON LAKE CA 92587 $289,478.55
600120180 DODDRIDGE,WAYNE 71 PANORAMA COTO DE CAZA CA 92679 $496,029.71
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120167 ANKER,ANTHONY L. 7.125 .200 6.925 .0400 6.885 11/01/2012
600120168 GERACI,VINCENT 7.750 .200 7.550 .0400 7.510 10/01/2027
600120169 BRANDEBERRY,TERRY L. 7.625 .200 7.425 .0400 7.385 12/01/2027
600120170 ONTIVAROS,MICHAEL 7.625 .200 7.425 .0400 7.385 12/01/2027
600120171 FLAHERTY,DANIEL G. 7.750 .200 7.550 .0400 7.510 12/01/2027
600120172 HALL, JR.,ROBERT B. 7.375 .200 7.175 .0400 7.135 12/01/2027
600120173 BUCHANAN,MARK T. 7.500 .200 7.300 .0400 7.260 10/01/2027
600120174 SHUTT,WILLIAM L 7.625 .200 7.425 .0400 7.385 11/01/2027
600120175 BEST,MICHAEL B 7.625 .200 7.425 .0400 7.385 10/01/2027
600120176 DRAPER,CHRISTOPHER A. 7.625 .200 7.425 .0400 7.385 12/01/2017
600120177 SHREINER,DAVID R. 7.125 .200 6.925 .0400 6.885 12/01/2027
600120178 BITHELL,SUSAN 7.875 .200 7.675 .0400 7.635 11/01/2027
600120179 ROSENFELD,TEDD C. 7.625 .200 7.425 .0400 7.385 11/01/2027
600120180 DODDRIDGE,WAYNE 7.250 .200 7.050 .0400 7.010 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>
600120167 ANKER,ANTHONY L. 5591508 $3,464.80 99 01/01/1998 180
600120168 GERACI,VINCENT 5612700 $1,647.75 01/01/1998 360
600120169 BRANDEBERRY,TERRY L. 5619424 $1,769.49 01/01/1998 360
600120170 ONTIVAROS,MICHAEL 5632534 $1,653.41 19 01/01/1998 360
600120171 FLAHERTY,DANIEL G. 5635602 $1,732.83 01/01/1998 360
600120172 HALL, JR.,ROBERT B. 5642343 $1,969.19 01/01/1998 360
600120173 BUCHANAN,MARK T. 5653746 $2,045.20 19 01/01/1998 360
600120174 SHUTT,WILLIAM L 5656517 $2,013.86 19 01/01/1998 360
600120175 BEST,MICHAEL B 5657093 $1,987.49 19 01/01/1998 360
600120176 DRAPER,CHRISTOPHER A. 5680764 $2,073.80 19 01/01/1998 240
600120177 SHREINER,DAVID R. 5681523 $1,845.99 01/01/1998 360
600120178 BITHELL,SUSAN 5682943 $1,690.14 19 01/01/1998 360
600120179 ROSENFELD,TEDD C. 5683990 $2,052.61 19 01/01/1998 360
600120180 DODDRIDGE,WAYNE 5691621 $4,564.32 01/01/1998 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>
600120167 ANKER,ANTHONY L. $425,000.00 N
600120168 GERACI,VINCENT $287,500.00 N
600120169 BRANDEBERRY,TERRY L. $328,000.00 N
600120170 ONTIVAROS,MICHAEL $245,924.00 N
600120171 FLAHERTY,DANIEL G. $369,000.00 N
600120172 HALL, JR.,ROBERT B. $356,389.00 N
600120173 BUCHANAN,MARK T. $325,000.00 N
600120174 SHUTT,WILLIAM L $299,500.00 N
600120175 BEST,MICHAEL B $312,865.04 N
600120176 DRAPER,CHRISTOPHER A. $312,000.00 N
600120177 SHREINER,DAVID R. $343,000.00 N
600120178 BITHELL,SUSAN $259,000.00 N
600120179 ROSENFELD,TEDD C. $322,500.00 N
600120180 DODDRIDGE,WAYNE $661,625.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 44
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120181 HAMBRICK,LEONARD E. 1740 FERNWOOD LANE ALGONQUIN IL 60102 $241,401.95
600120182 ROUX,RICHARD 7210 SCENIC DRIVE YAKIMA WA 98908 $615,010.74
600120183 ROSNER,NICK J. 25502 ARIA DRIVE MISSION VIEJO CA 92692 $306,597.00
600120184 ARNSPARGER,WILLIAM S. 18111 COLONNADES PLACE SAN DIEGO CA 92128 $264,013.52
600120185 WHALEN,PATRICK E. 1848 PORT ASHLEY PLACE NEWPORT BEACH CA 92660 $309,010.07
600120186 MORITA,GERRY I. 3039 CAROB STREET NEWPORT BEACH CA 92660 $403,339.67
600120187 SATTLER,ROBERT G. 56825 MERION LA QUINTA CA 92253 $304,578.82
600120188 BENT,JOHN S 1300 LYNNMERE DRIVE THOUSAND OAKS CA 91360 $274,103.75
600120189 SCHIFANDO,JACK 116 ROYAL OAK COURT SCOTTS VALLEY CA 95066 $316,600.65
600120190 OGLESBY,LESLIE 2799 MILANI AVENUE PLEASANTON CA 94588 $257,225.92
600120191 POTTS,DAN 30 TRINITY IRVINE CA 92612 $404,029.77
600120192 NAGIE,KEVIN 4565 EAST LAKE CREEK FARM HEBER CITY UT 84032 $298,121.94
600120193 SCHRUHL,ROBERT 23429 KINGSTON PLACE VALENCIA CA 91354 $336,772.39
600120195 RICHTER,ALAN B 3779 OAKRIDGE CIRCLE WESTON FL 33332 $299,777.35
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120181 HAMBRICK,LEONARD E. 7.000 .200 6.800 .0400 6.760 12/01/2027
600120182 ROUX,RICHARD 6.750 .200 6.550 .0400 6.510 12/01/2012
600120183 ROSNER,NICK J. 8.125 .200 7.925 .0400 7.885 11/01/2027
600120184 ARNSPARGER,WILLIAM S. 7.750 .200 7.550 .0400 7.510 12/01/2027
600120185 WHALEN,PATRICK E. 7.750 .200 7.550 .0400 7.510 11/01/2012
600120186 MORITA,GERRY I. 7.750 .200 7.550 .0400 7.510 11/01/2012
600120187 SATTLER,ROBERT G. 7.875 .200 7.675 .0400 7.635 11/01/2027
600120188 BENT,JOHN S 6.625 .200 6.425 .0400 6.385 12/01/2012
600120189 SCHIFANDO,JACK 7.750 .200 7.550 .0400 7.510 11/01/2027
600120190 OGLESBY,LESLIE 7.625 .200 7.425 .0400 7.385 11/01/2027
600120191 POTTS,DAN 8.125 .200 7.925 .0400 7.885 11/01/2027
600120192 NAGIE,KEVIN 7.125 .200 6.925 .0400 6.885 11/01/2012
600120193 SCHRUHL,ROBERT 7.750 .200 7.550 .0400 7.510 11/01/2027
600120195 RICHTER,ALAN B 7.500 .200 7.300 .0400 7.260 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>
600120181 HAMBRICK,LEONARD E. 5703921 $1,607.38 01/01/1998 360
600120182 ROUX,RICHARD 5705686 $5,459.90 01/01/1998 180
600120183 ROSNER,NICK J. 5710223 $2,279.47 01/01/1998 360
600120184 ARNSPARGER,WILLIAM S. 5712104 $1,892.77 01/01/1998 360
600120185 WHALEN,PATRICK E. 5715495 $2,927.37 01/01/1998 180
600120186 MORITA,GERRY I. 5716543 $3,847.00 01/01/1998 180
600120187 SATTLER,ROBERT G. 5717970 $2,211.47 01/01/1998 360
600120188 BENT,JOHN S 5724042 $2,414.49 01/01/1998 180
600120189 SCHIFANDO,JACK 5724661 $2,273.18 01/01/1998 360
600120190 OGLESBY,LESLIE 5725783 $1,823.28 01/01/1998 360
600120191 POTTS,DAN 5730494 $3,007.12 01/01/1998 360
600120192 NAGIE,KEVIN 5730783 $2,717.50 01/01/1998 180
600120193 SCHRUHL,ROBERT 5731021 $2,416.11 19 01/01/1998 360
600120195 RICHTER,ALAN B 5753967 $2,097.65 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120181 HAMBRICK,LEONARD E. $302,000.00 N
600120182 ROUX,RICHARD $1,100,000.00 N
600120183 ROSNER,NICK J. $410,000.00 N
600120184 ARNSPARGER,WILLIAM S. $345,000.00 N
600120185 WHALEN,PATRICK E. $820,000.00 N
600120186 MORITA,GERRY I. $640,000.00 N
600120187 SATTLER,ROBERT G. $382,000.00 N
600120188 BENT,JOHN S $590,000.00 N
600120189 SCHIFANDO,JACK $580,000.00 N
600120190 OGLESBY,LESLIE $322,000.00 N
600120191 POTTS,DAN $560,000.00 N
600120192 NAGIE,KEVIN $375,000.00 N
600120193 SCHRUHL,ROBERT $355,000.00 N
600120195 RICHTER,ALAN B $399,100.60 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 45
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120196 SAMUEL,SAMSON P 29919 STANHURST ROAD FARMINGTON HILL MI 48331 $361,188.07
600120197 BUSH,RICHARD R 8801 ASHDOWN COURT RALEIGH NC 27613 $263,746.77
600120198 WINCHELL,R MARK 10644 INDINGO BLOSSOM SAN DIEGO CA 92121 $260,720.96
600120199 WILLIAMS,THOMAS B 3709 EAST WHITEBAY DRIVE LITTLETON CO 80126 $239,321.88
600120200 PARNO,BRIAN 30 ALICANTE COTO DE CAZA CA 92679 $302,780.69
600120201 PARK,DENNIS P 4910 NORTH POINT BYRON CA 94514 $265,297.97
600120202 HARVEY,DARRYL WAYNE 7459 WESTCLIFF DRIVE WEST HILLS CA 91304 $356,728.34
600120203 HUANG,KUNG 7903 TYSONS EXECUTIVE LAN VIENNA VA 22027 $297,100.19
600120204 GANDHI,DHRUMIL 11775 RIDGE CREEK COURT CUPERTINO CA 95014 $441,190.23
600120205 PRESNALL,GARY SCOTT 2020 CHADBOURNE COURT DANVILLE CA 94526 $431,403.45
600120206 ZIPPEL,JOACHIM 2041 HAINES PLACE SANTA CLARA CA 95051 $295,548.15
600120207 LARSON,ERIC K. 243 PASEO DEL RIO MORAGA CA 94556 $329,033.38
600120208 CIOLINO,JOHN A. 1825 ROCK SPRINGS ST THOUSAND OAKS CA 91320 $294,560.75
600120209 OLSON,HAROLD L. 18413 EAST TONTO VERDE DR TONTO VERDE AZ 85263 $259,603.10
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120196 SAMUEL,SAMSON P 7.625 .200 7.425 .0400 7.385 12/01/2027
600120197 BUSH,RICHARD R 7.375 .200 7.175 .0400 7.135 11/01/2027
600120198 WINCHELL,R MARK 7.500 .200 7.300 .0400 7.260 12/01/2027
600120199 WILLIAMS,THOMAS B 7.500 .200 7.300 .0400 7.260 12/01/2027
600120200 PARNO,BRIAN 7.625 .200 7.425 .0400 7.385 12/01/2027
600120201 PARK,DENNIS P 7.375 .200 7.175 .0400 7.135 12/01/2027
600120202 HARVEY,DARRYL WAYNE 7.375 .200 7.175 .0400 7.135 12/01/2027
600120203 HUANG,KUNG 6.875 .200 6.675 .0400 6.635 12/01/2027
600120204 GANDHI,DHRUMIL 7.000 .200 6.800 .0400 6.760 11/01/2012
600120205 PRESNALL,GARY SCOTT 7.875 .200 7.675 .0400 7.635 11/01/2027
600120206 ZIPPEL,JOACHIM 7.375 .200 7.175 .0400 7.135 11/01/2027
600120207 LARSON,ERIC K. 7.750 .200 7.550 .0400 7.510 11/01/2027
600120208 CIOLINO,JOHN A. 7.500 .200 7.300 .0400 7.260 11/01/2027
600120209 OLSON,HAROLD L. 7.375 .200 7.175 .0400 7.135 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>
600120196 SAMUEL,SAMSON P 5763552 $2,560.80 19 01/01/1998 360
600120197 BUSH,RICHARD R 5764865 $1,824.42 19 01/01/1998 360
600120198 WINCHELL,R MARK 5766308 $1,824.95 19 01/01/1998 360
600120199 WILLIAMS,THOMAS B 5766522 $1,678.12 01/01/1998 360
600120200 PARNO,BRIAN 5768825 $2,144.62 01/01/1998 360
600120201 PARK,DENNIS P 5780390 $1,833.75 19 01/01/1998 360
600120202 HARVEY,DARRYL WAYNE 5782735 $2,465.72 19 01/01/1998 360
600120203 HUANG,KUNG 5786165 $1,953.38 01/01/1998 360
600120204 GANDHI,DHRUMIL 5797576 $3,990.80 01/01/1998 180
600120205 PRESNALL,GARY SCOTT 5797865 $3,132.30 01/01/1998 360
600120206 ZIPPEL,JOACHIM 5798186 $2,044.40 01/01/1998 360
600120207 LARSON,ERIC K. 5798210 $2,360.58 01/01/1998 360
600120208 CIOLINO,JOHN A. 5798277 $2,062.69 01/01/1998 360
600120209 OLSON,HAROLD L. 5799036 $1,795.76 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120196 SAMUEL,SAMSON P $402,000.00 N
600120197 BUSH,RICHARD R $293,500.00 N
600120198 WINCHELL,R MARK $290,000.00 N
600120199 WILLIAMS,THOMAS B $379,900.00 N
600120200 PARNO,BRIAN $555,000.00 N
600120201 PARK,DENNIS P $295,000.00 N
600120202 HARVEY,DARRYL WAYNE $420,000.00 N
600120203 HUANG,KUNG $417,350.00 N
600120204 GANDHI,DHRUMIL $725,000.00 N
600120205 PRESNALL,GARY SCOTT $540,000.00 N
600120206 ZIPPEL,JOACHIM $370,000.00 N
600120207 LARSON,ERIC K. $465,000.00 N
600120208 CIOLINO,JOHN A. $370,000.00 N
600120209 OLSON,HAROLD L. $385,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 46
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120210 MALONEY,THOMAS B. 20 CHERRY HILLS COURT ALAMO CA 94507 $476,214.46
600120211 NEWSOME,CHARLES A. 21 LAFOY DRIVE CITY OF CLAYTON NC 27520 $235,815.89
600120212 GUIDO,LAWRENCE 336 FAIRWAY COTTAGES HIGHLANDS NC 28741 $367,234.01
600120213 LEDNOVICH,MICHAEL A. 4317 EAST TOWNSEND AVENUE ORANGE CA 92667 $365,694.30
600120214 KORCHEK,JEFFREY I. 25012 EL DORADO MEADOW RO HIDDEN HILLS CA 91302 $648,982.80
600120215 BATEMAN,JAMES E. 5473 EAST ESTATE RIDGE ANAHEIM CA 92807 $283,597.80
600120216 BROWN,FRANK M. 73 SANDERS RANCH ROAD MORAGA CA 94556 $579,590.63
600120217 WILLIAMS,JOHN S. 26651 CAMPESINO MISSION VIEJO CA 92691 $281,555.28
600120218 HAMMACK,MATTHEW L. 1687 SAINT DAVID DRIVE DANVILLE CA 94526 $298,294.57
600120219 COPPOCK,MYRON 21841 CAMINITO DR. TRABUCO CANYON CA 92679 $263,326.56
600120220 GURVITZ,RAND SIMON 1806 PASTO COURT WALNUT CREEK CA 94595 $375,467.53
600120221 INDERBITZEN,MARTIN W. 4218 CASTERSON COURT PLEASANTON CA 94566 $573,145.34
600120222 SZROMBA,LEE 630-101 BROCTON COURT LONG BEACH CA 90803 $268,409.66
600120223 CHUNG,NORBERT 17185 AVENIDA DE SANTA YE PACIFIC PALISAD CA 90272 $392,243.73
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120210 MALONEY,THOMAS B. 7.250 .200 7.050 .0400 7.010 11/01/2017
600120211 NEWSOME,CHARLES A. 7.250 .200 7.050 .0400 7.010 12/01/2027
600120212 GUIDO,LAWRENCE 7.625 .200 7.425 .0400 7.385 12/01/2027
600120213 LEDNOVICH,MICHAEL A. 7.875 .200 7.675 .0400 7.635 11/01/2027
600120214 KORCHEK,JEFFREY I. 7.250 .200 7.050 .0400 7.010 11/01/2027
600120215 BATEMAN,JAMES E. 7.750 .200 7.550 .0400 7.510 11/01/2027
600120216 BROWN,FRANK M. 7.750 .200 7.550 .0400 7.510 12/01/2027
600120217 WILLIAMS,JOHN S. 7.875 .200 7.675 .0400 7.635 11/01/2027
600120218 HAMMACK,MATTHEW L. 7.875 .200 7.675 .0400 7.635 12/01/2027
600120219 COPPOCK,MYRON 7.750 .200 7.550 .0400 7.510 11/01/2027
600120220 GURVITZ,RAND SIMON 7.750 .200 7.550 .0400 7.510 11/01/2027
600120221 INDERBITZEN,MARTIN W. 7.500 .200 7.300 .0400 7.260 11/01/2027
600120222 SZROMBA,LEE 7.625 .200 7.425 .0400 7.385 11/01/2027
600120223 CHUNG,NORBERT 7.750 .200 7.550 .0400 7.510 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>
600120210 MALONEY,THOMAS B. 5800032 $3,778.00 01/01/1998 240
600120211 NEWSOME,CHARLES A. 5800123 $1,609.94 01/01/1998 360
600120212 GUIDO,LAWRENCE 5800412 $2,601.15 19 01/01/1998 360
600120213 LEDNOVICH,MICHAEL A. 5800420 $2,655.21 19 01/01/1998 360
600120214 KORCHEK,JEFFREY I. 5801352 $4,434.15 01/01/1998 360
600120215 BATEMAN,JAMES E. 5801691 $2,034.62 01/01/1998 360
600120216 BROWN,FRANK M. 5801931 $4,155.20 01/01/1998 360
600120217 WILLIAMS,JOHN S. 5802145 $2,044.70 01/01/1998 360
600120218 HAMMACK,MATTHEW L. 5802509 $2,164.34 01/01/1998 360
600120219 COPPOCK,MYRON 5802574 $1,889.18 19 01/01/1998 360
600120220 GURVITZ,RAND SIMON 5803325 $2,693.71 01/01/1998 360
600120221 INDERBITZEN,MARTIN W. 5803804 $4,013.50 01/01/1998 360
600120222 SZROMBA,LEE 5805148 $1,902.55 01/01/1998 360
600120223 CHUNG,NORBERT 5805189 $2,814.07 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120210 MALONEY,THOMAS B. $620,000.00 N
600120211 NEWSOME,CHARLES A. $295,000.00 N
600120212 GUIDO,LAWRENCE $392,500.00 N
600120213 LEDNOVICH,MICHAEL A. $420,000.00 N
600120214 KORCHEK,JEFFREY I. $985,000.00 N
600120215 BATEMAN,JAMES E. $365,000.00 N
600120216 BROWN,FRANK M. $732,000.00 N
600120217 WILLIAMS,JOHN S. $355,000.00 N
600120218 HAMMACK,MATTHEW L. $397,000.00 N
600120219 COPPOCK,MYRON $293,000.00 N
600120220 GURVITZ,RAND SIMON $475,000.00 N
600120221 INDERBITZEN,MARTIN W. $890,000.00 N
600120222 SZROMBA,LEE $336,000.00 N
600120223 CHUNG,NORBERT $550,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 47
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120224 GUAY,THOMAS W. 2020 GOLDENROD LANE SAN RAMON CA 94583 $299,113.67
600120225 FITZPATRICK,JOANNE M. 42 ARROYO VIEW CIRCLE BELMONT CA 94002 $322,991.25
600120226 CYPRIEN,MARK J. 6420 REGENTS COURT YORBA LINDA CA 92686 $229,737.67
600120227 MERCADO,TEODORICO P. 451 SOUTH BEACHTREE COURT ANAHEIM CA 92808 $255,546.61
600120228 LACHANCE,MICHAEL J. 10 LEXINGTON WAY COTO DE CAZA CA 92679 $241,333.79
600120229 YUDIN,ANDREW S. 26391 LOMBARDY ROAD MISSION VIEJO CA 92692 $296,767.95
600120230 TRAYLOR,LAWRENCE A. 34102 CAPISTRANO BY THE S DANA POINT CA 92629 $383,495.92
600120231 TOUSSI,PEDRAM 24248 ABBEYWOOD DRIVE WEST HILLS CA 91307 $394,492.01
600120232 ARZOUMAN,MICHAEL 15 RIMROCK IRVINE CA 92715 $464,124.22
600120233 RALBOVSKY,JAMES 27446 FRESCA MISSION VIEJO CA 92691 $231,501.06
600120234 SILVA IV,JOSEPH N. 3770 WEST LAS POSITAS BOU PLEASANTON CA 94588 $231,197.29
600120235 FULLER,GLENN EVAN 28 RIVIERA COTO DE COZA CA 92679 $374,441.64
600120236 STACK,PETER S. 14 BRENTWOOD COTO DE CAZA CA 92679 $339,747.67
600120237 BOWMAN,STEPHEN M. 11 DIPSEA RD STINSON BEACH CA 94970 $411,355.25
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120224 GUAY,THOMAS W. 7.750 .200 7.550 .0400 7.510 12/01/2012
600120225 FITZPATRICK,JOANNE M. 7.375 .200 7.175 .0400 7.135 12/01/2027
600120226 CYPRIEN,MARK J. 7.750 .200 7.550 .0400 7.510 12/01/2027
600120227 MERCADO,TEODORICO P. 7.875 .200 7.675 .0400 7.635 11/01/2027
600120228 LACHANCE,MICHAEL J. 7.875 .200 7.675 .0400 7.635 12/01/2027
600120229 YUDIN,ANDREW S. 7.875 .200 7.675 .0400 7.635 11/01/2027
600120230 TRAYLOR,LAWRENCE A. 8.125 .200 7.925 .0400 7.885 11/01/2027
600120231 TOUSSI,PEDRAM 7.250 .200 7.050 .0400 7.010 12/01/2027
600120232 ARZOUMAN,MICHAEL 8.000 .200 7.800 .0400 7.760 11/01/2027
600120233 RALBOVSKY,JAMES 7.250 .200 7.050 .0400 7.010 12/01/2027
600120234 SILVA IV,JOSEPH N. 7.875 .200 7.675 .0400 7.635 11/01/2017
600120235 FULLER,GLENN EVAN 7.500 .200 7.300 .0400 7.260 11/01/2027
600120236 STACK,PETER S. 7.500 .200 7.300 .0400 7.260 12/01/2027
600120237 BOWMAN,STEPHEN M. 7.250 .200 7.050 .0400 7.010 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>
600120224 GUAY,THOMAS W. 5805254 $2,823.83 01/01/1998 180
600120225 FITZPATRICK,JOANNE M. 5806344 $2,237.79 01/01/1998 360
600120226 CYPRIEN,MARK J. 5807060 $1,647.75 01/01/1998 360
600120227 MERCADO,TEODORICO P. 5807151 $1,855.46 01/01/1998 360
600120228 LACHANCE,MICHAEL J. 5807797 $1,751.05 01/01/1998 360
600120229 YUDIN,ANDREW S. 5807862 $2,166.87 19 01/01/1998 360
600120230 TRAYLOR,LAWRENCE A. 5809108 $2,851.19 01/01/1998 360
600120231 TOUSSI,PEDRAM 5809306 $2,693.24 01/01/1998 360
600120232 ARZOUMAN,MICHAEL 5813878 $3,410.18 01/01/1998 360
600120233 RALBOVSKY,JAMES 5813910 $1,581.97 01/01/1998 360
600120234 SILVA IV,JOSEPH N. 5816798 $1,922.54 01/01/1998 240
600120235 FULLER,GLENN EVAN 5817606 $2,622.06 01/01/1998 360
600120236 STACK,PETER S. 5817648 $2,377.33 01/01/1998 360
600120237 BOWMAN,STEPHEN M. 5817671 $2,810.57 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120224 GUAY,THOMAS W. $375,000.00 N
600120225 FITZPATRICK,JOANNE M. $405,000.00 N
600120226 CYPRIEN,MARK J. $340,000.00 N
600120227 MERCADO,TEODORICO P. $321,000.00 N
600120228 LACHANCE,MICHAEL J. $325,000.00 N
600120229 YUDIN,ANDREW S. $355,000.00 N
600120230 TRAYLOR,LAWRENCE A. $480,000.00 N
600120231 TOUSSI,PEDRAM $495,000.00 N
600120232 ARZOUMAN,MICHAEL $585,000.00 N
600120233 RALBOVSKY,JAMES $289,900.00 N
600120234 SILVA IV,JOSEPH N. $305,000.00 N
600120235 FULLER,GLENN EVAN $575,000.00 N
600120236 STACK,PETER S. $425,000.00 N
600120237 BOWMAN,STEPHEN M. $515,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 48
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120238 JONES,WILLIAM A. 8727 EAST WHISPERING WIND SCOTTSDALE AZ 85255 $373,650.64
600120239 ZIMMER,KEVIN J. 2153 VIA MAR VALLE SAN DIEGO CA 92014 $303,779.77
600120240 DEVOE,DONALD E. 1073 CARRIAGE HILLS PKWY ANNAPOLIS MD 21401 $275,131.56
600120241 BAUTISTA,LEONARD T. 202 CARNATION COURT PLEASANTON CA 94566 $239,610.39
600120242 DEAN,ANTHONY J. 286 SAINT JAMES PLAC PHILADELPHIA PA 19106 $258,161.73
600120243 PORTER,JOHN M. 5822 EAST HILLGROVE COURT ORANGE CA 92869 $265,137.80
600120244 GABANY,ROBERT JAY 5636 LE FEVRE DRIVE SAN JOSE CA 95118 $326,145.37
600120245 SAYOR,THOMAS B. 629 TIMBER CREST CRCL HIGHLAND VILLAG TX 75067 $316,082.83
600120246 LAFOY JR.,JOE C. 2581 BRETZKE LANE NEW BRAUNFELS TX 78132 $251,962.19
600120247 TRAMM,PHILLIP J 4514 EAST WICKHAM AVENUE ORANGE CA 92867 $351,273.90
600120248 MITTS,KATHRYN I. 6215 SEVILLE COURT LONG BEACH CA 90803 $388,860.42
600120249 MULHOLLAND,WILLIAM G. 3412 PECAN PARK DRIVE LEWISVILLE TX 75028 $249,575.07
600120250 FASSERO,JOSEPH M. 5135 EAST 108TH STREET SO TULSA OK 74137 $229,250.40
600120251 BLACKWOOD,GERALDINE 104 QUEEN'S WAY PONTE VEDRA BEA FL 32082 $235,833.43
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120238 JONES,WILLIAM A. 7.125 .200 6.925 .0400 6.885 12/01/2027
600120239 ZIMMER,KEVIN J. 7.500 .200 7.300 .0400 7.260 12/01/2012
600120240 DEVOE,DONALD E. 7.625 .200 7.425 .0400 7.385 11/01/2012
600120241 BAUTISTA,LEONARD T. 7.250 .200 7.050 .0400 7.010 11/01/2027
600120242 DEAN,ANTHONY J. 6.750 .200 6.550 .0400 6.510 12/01/2012
600120243 PORTER,JOHN M. 7.125 .200 6.925 .0400 6.885 12/01/2027
600120244 GABANY,ROBERT JAY 7.250 .200 7.050 .0400 7.010 12/01/2027
600120245 SAYOR,THOMAS B. 7.125 .200 6.925 .0400 6.885 12/01/2027
600120246 LAFOY JR.,JOE C. 7.875 .200 7.675 .0400 7.635 12/01/2027
600120247 TRAMM,PHILLIP J 7.750 .200 7.550 .0400 7.510 12/01/2027
600120248 MITTS,KATHRYN I. 7.875 .200 7.675 .0400 7.635 12/01/2012
600120249 MULHOLLAND,WILLIAM G. 6.500 .200 6.300 .0400 6.260 12/01/2012
600120250 FASSERO,JOSEPH M. 6.625 .200 6.425 .0400 6.385 12/01/2012
600120251 BLACKWOOD,GERALDINE 7.750 .200 7.550 .0400 7.510 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>
600120238 JONES,WILLIAM A. 5821772 $2,526.45 01/01/1998 360
600120239 ZIMMER,KEVIN J. 5822168 $2,824.61 01/01/1998 180
600120240 DEVOE,DONALD E. 5824453 $2,600.62 01/01/1998 180
600120241 BAUTISTA,LEONARD T. 5826532 $1,637.23 01/01/1998 360
600120242 DEAN,ANTHONY J. 5832969 $2,300.77 01/01/1998 180
600120243 PORTER,JOHN M. 5834114 $1,787.72 01/01/1998 360
600120244 GABANY,ROBERT JAY 5834353 $2,226.63 01/01/1998 360
600120245 SAYOR,THOMAS B. 5835954 $2,152.54 19 01/01/1998 360
600120246 LAFOY JR.,JOE C. 5879549 $1,830.81 01/01/1998 360
600120247 TRAMM,PHILLIP J 5881487 $2,518.35 01/01/1998 360
600120248 MITTS,KATHRYN I. 5882360 $3,698.96 01/01/1998 180
600120249 MULHOLLAND,WILLIAM G. 5883731 $2,181.26 01/01/1998 180
600120250 FASSERO,JOSEPH M. 5884101 $2,019.39 01/01/1998 180
600120251 BLACKWOOD,GERALDINE 5896337 $1,690.74 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120238 JONES,WILLIAM A. $500,000.00 N
600120239 ZIMMER,KEVIN J. $450,000.00 N
600120240 DEVOE,DONALD E. $348,000.00 N
600120241 BAUTISTA,LEONARD T. $300,000.00 N
600120242 DEAN,ANTHONY J. $380,000.00 N
600120243 PORTER,JOHN M. $335,439.00 N
600120244 GABANY,ROBERT JAY $408,000.00 N
600120245 SAYOR,THOMAS B. $355,000.00 N
600120246 LAFOY JR.,JOE C. $370,000.00 N
600120247 TRAMM,PHILLIP J $448,000.00 N
600120248 MITTS,KATHRYN I. $565,000.00 N
600120249 MULHOLLAND,WILLIAM G. $313,000.00 N
600120250 FASSERO,JOSEPH M. $338,000.00 N
600120251 BLACKWOOD,GERALDINE $295,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 49
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120252 BITTNER,TRAVIS 918 HILLS CREEK DRIVE MC KINNEY TX 75069 $317,048.53
600120255 ZONDLO,SUSAN C. 133 JASMINE CREEK DRIVE CORONA DEL MAR CA 92625 $378,875.51
600120256 STOCKS,STEVEN ALLEN 3 PARDISE COVE LAGOONA NIGUEL CA 92677 $399,636.24
600120258 MYERSON,DAVID D 27391 COMPOSTELA MISSION VIEJO CA 92692 $227,522.82
600120260 TARTZ,JOHN M 6444 SERENGETI PLACE LITTLETON CO 80124 $302,822.53
600120261 GRACE,ELIZABETH 2157 POLLARD STREET NORTH ARLINGTON VA 22207 $307,775.90
600120262 CREED,ROBERT L 920 SOUTH CREEK VIEW LANE ANAHEIM CA 92808 $254,610.90
600120263 HOAGWOOD,THOMAS E. 311 GENTLEWOODS DRIVE CARY NC 27511 $232,538.45
600120264 LEWIS,DANIEL E 39 PEBBLE COVE DRIVE SPRING TX 77381 $271,782.48
600120265 ARMSTRONG,SCOTT 5 HILLRISE DOVE CANYON CA 92679 $358,665.17
600120266 GRACE,KEVIN 18 ARADO RANCHO SANTA MR CA 92688 $242,470.66
600120267 GILLIS,GRAHAM A. 8211 CORTE LAS LENAS SAN DIEGO CA 92129 $314,728.66
600120268 GOTZ,DAVID M. 54 APACHE COURT SAN RAMON CA 94583 $328,243.74
600120269 ROGERS,MATTHEW C. 13542 PAWNNEE TUSTIN CA 92782 $246,821.22
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120252 BITTNER,TRAVIS 7.500 .200 7.300 .0400 7.260 12/01/2027
600120255 ZONDLO,SUSAN C. 7.750 .200 7.550 .0400 7.510 09/01/2027
600120256 STOCKS,STEVEN ALLEN 7.625 .200 7.425 .0400 7.385 12/01/2027
600120258 MYERSON,DAVID D 9.000 .950 8.050 .0400 8.010 10/01/2027
600120260 TARTZ,JOHN M 7.375 .200 7.175 .0400 7.135 12/01/2012
600120261 GRACE,ELIZABETH 7.000 .200 6.800 .0400 6.760 12/01/2012
600120262 CREED,ROBERT L 7.500 .200 7.300 .0400 7.260 12/01/2027
600120263 HOAGWOOD,THOMAS E. 7.250 .200 7.050 .0400 7.010 12/01/2027
600120264 LEWIS,DANIEL E 7.125 .200 6.925 .0400 6.885 12/01/2027
600120265 ARMSTRONG,SCOTT 7.500 .200 7.300 .0400 7.260 11/01/2027
600120266 GRACE,KEVIN 7.625 .200 7.425 .0400 7.385 11/01/2027
600120267 GILLIS,GRAHAM A. 7.750 .200 7.550 .0400 7.510 11/01/2027
600120268 GOTZ,DAVID M. 7.250 .200 7.050 .0400 7.010 12/01/2027
600120269 ROGERS,MATTHEW C. 7.625 .200 7.425 .0400 7.385 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>
600120252 BITTNER,TRAVIS 6120380 $2,218.50 19 01/01/1998 360
600120255 ZONDLO,SUSAN C. 6185219 $2,722.37 19 01/01/1998 360
600120256 STOCKS,STEVEN ALLEN 6190128 $2,831.18 01/01/1998 360
600120258 MYERSON,DAVID D 6206593 $1,834.54 3 01/01/1998 360
600120260 TARTZ,JOHN M 6222632 $2,794.27 01/01/1998 180
600120261 GRACE,ELIZABETH 6225270 $2,775.14 19 01/01/1998 180
600120262 CREED,ROBERT L 6225825 $1,781.60 01/01/1998 360
600120263 HOAGWOOD,THOMAS E. 6237226 $1,587.57 01/01/1998 360
600120264 LEWIS,DANIEL E 6239297 $1,832.52 01/01/1998 360
600120265 ARMSTRONG,SCOTT 6257471 $2,511.58 01/01/1998 360
600120266 GRACE,KEVIN 6257562 $1,719.24 01/01/1998 360
600120267 GILLIS,GRAHAM A. 6272090 $2,257.96 19 01/01/1998 360
600120268 GOTZ,DAVID M. 6272116 $2,240.95 01/01/1998 360
600120269 ROGERS,MATTHEW C. 6272363 $1,748.26 19 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120252 BITTNER,TRAVIS $333,984.00 N
600120255 ZONDLO,SUSAN C. $400,000.00 N
600120256 STOCKS,STEVEN ALLEN $500,000.00 N
600120258 MYERSON,DAVID D $240,000.00 N
600120260 TARTZ,JOHN M $405,000.00 N
600120261 GRACE,ELIZABETH $325,000.00 N
600120262 CREED,ROBERT L $318,500.00 N
600120263 HOAGWOOD,THOMAS E. $290,900.00 N
600120264 LEWIS,DANIEL E $340,000.00 N
600120265 ARMSTRONG,SCOTT $449,900.00 N
600120266 GRACE,KEVIN $364,900.00 N
600120267 GILLIS,GRAHAM A. $334,000.00 N
600120268 GOTZ,DAVID M. $415,000.00 N
600120269 ROGERS,MATTHEW C. $260,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 50
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120270 LORN,BERNARD 24 ISLAND DRIVE BOYNTON BEACH FL 33436 $349,746.68
600120271 MONTGOMERY,WARREN D. 6 PENSACOLA COURT NOVATO CA 94949 $448,433.07
600120272 HOOD,GENE G 210 OLD PLANTATION DRIVE BEAUFORT SC 29902 $302,297.03
600120273 STUTZ,JOHN D. 5212 EAST GABRIELLE LANE ORANGE CA 92867 $483,113.35
600120274 CHASE,GREOGRY JAMES 25 MARBELLA DANA POINT CA 92629 $641,113.46
600120276 THOMPSON,STEPHEN 3831 AVOCADO STREET IRVINE CA 92606 $262,019.55
600120277 DALEY,JAMES B 280 JERSEY STREET DENVER CO 80220 $298,783.59
600120278 MORROW,JAMES KENNETH 574 HORSE THIEF LANE DURANGO CO 81301 $317,775.55
600120279 HELM,HUGH H 200 VIA KORON NEWPORT BEACH CA 92663 $649,563.86
600120280 ROSS,AARON 100 BEECHDALE COURT ACCOKEEK MD 20607 $307,427.16
600120281 PUTTICK,SIMON HUGH 11263 ROLLING HILLS DRIVE DUBLIN CA 94568 $331,741.00
600120282 MCNINCH,SCOTT 13802 WOODWARD SHAWNEE MISSION KS 66223 $255,795.28
600120285 KING,THOMAS W. 29119 OAKVIEW RIDGE FAIR OAKS RANCH TX 78015 $229,640.06
600120287 CLARK,DAVID R 4014 52 ND ST NE TACOMA WA 98422 $229,837.67
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120270 LORN,BERNARD 7.625 .200 7.425 .0400 7.385 12/01/2027
600120271 MONTGOMERY,WARREN D. 6.500 .200 6.300 .0400 6.260 12/01/2012
600120272 HOOD,GENE G 8.000 .200 7.800 .0400 7.760 12/01/2027
600120273 STUTZ,JOHN D. 7.125 .200 6.925 .0400 6.885 12/01/2027
600120274 CHASE,GREOGRY JAMES 7.875 .200 7.675 .0400 7.635 11/01/2027
600120276 THOMPSON,STEPHEN 7.875 .200 7.675 .0400 7.635 12/01/2027
600120277 DALEY,JAMES B 7.625 .200 7.425 .0400 7.385 12/01/2027
600120278 MORROW,JAMES KENNETH 7.750 .200 7.550 .0400 7.510 12/01/2027
600120279 HELM,HUGH H 8.000 .200 7.800 .0400 7.760 12/01/2027
600120280 ROSS,AARON 7.625 .200 7.425 .0400 7.385 12/01/2027
600120281 PUTTICK,SIMON HUGH 7.250 .200 7.050 .0400 7.010 12/01/2027
600120282 MCNINCH,SCOTT 7.125 .200 6.925 .0400 6.885 12/01/2027
600120285 KING,THOMAS W. 7.250 .200 7.050 .0400 7.010 11/01/2027
600120287 CLARK,DAVID R 7.750 .200 7.550 .0400 7.510 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>
600120270 LORN,BERNARD 6273601 $2,477.28 01/01/1998 360
600120271 MONTGOMERY,WARREN D. 6278857 $3,919.99 01/01/1998 180
600120272 HOOD,GENE G 6283436 $2,219.64 01/01/1998 360
600120273 STUTZ,JOHN D. 6292734 $3,257.43 01/01/1998 360
600120274 CHASE,GREOGRY JAMES 6294185 $4,654.95 01/01/1998 360
600120276 THOMPSON,STEPHEN 6302145 $1,901.14 19 01/01/1998 360
600120277 DALEY,JAMES B 6305171 $2,116.31 01/01/1998 360
600120278 MORROW,JAMES KENNETH 6311153 $2,278.20 01/01/1998 360
600120279 HELM,HUGH H 6314322 $4,769.47 01/01/1998 360
600120280 ROSS,AARON 6317150 $2,180.01 2 01/01/1998 360
600120281 PUTTICK,SIMON HUGH 6321871 $2,264.83 01/01/1998 360
600120282 MCNINCH,SCOTT 6379499 $1,724.72 01/01/1998 360
600120285 KING,THOMAS W. 9038720 $1,569.01 01/01/1998 360
600120287 CLARK,DAVID R 9532995 $1,647.75 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120270 LORN,BERNARD $612,325.00 N
600120271 MONTGOMERY,WARREN D. $595,000.00 N
600120272 HOOD,GENE G $410,000.00 N
600120273 STUTZ,JOHN D. $604,397.00 N
600120274 CHASE,GREOGRY JAMES $802,500.00 N
600120276 THOMPSON,STEPHEN $276,000.00 N
600120277 DALEY,JAMES B $440,000.00 N
600120278 MORROW,JAMES KENNETH $420,000.00 N
600120279 HELM,HUGH H $925,000.00 N
600120280 ROSS,AARON $360,000.00 N
600120281 PUTTICK,SIMON HUGH $415,000.00 N
600120282 MCNINCH,SCOTT $320,000.00 N
600120285 KING,THOMAS W. $303,400.00 N
600120287 CLARK,DAVID R $288,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 51
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<TABLE>
<CAPTION>
SCHEDULED
LOAN # BORROWER STREET ADDRESS CITY STATE ZIP BALANCE
------ -------------------- -------------------- --------------- ----- ----- -----------
<S> <C> <C> <C> <C> <C> <C>
600120288 SIMMONS,JUDY F. 10 FALCON WAY DURANGO CO 81301 $304,638.56
600120289 MARBELLA, JR.,IRENEO 2289 REGATTA WAY SAN LEANDRO CA 94577 $234,909.79
600120291 MOORE, JR.,J.R. 22 CAPE JASMINE PLACE THE WOODLANDS TX 77381 $259,792.08
600120292 LIMCANGCO,MICHAEL V 40 DELANCY COURT PHOENIXVILLE PA 19460 $279,797.34
600120293 KIDWELL,WILLIAM H. 1672 VIA CAMPAGNA SAN JOSE CA 95120 $355,956.54
600120294 ALONIS,JAY J 14 DAMPER CIRCLE NASHUA NH 03063 $236,741.71
600120295 HACKER,JOHN R 43377 HYLAND HILLS ST SOUTH RIBING VA 20152 $246,459.25
600120296 VILLAGOMEZ,DANIEL 2104 REGENT DRIVE MOUNT KISCO NY 10549 $233,525.82
600120298 MURPHY,MARTIN E 510 OVERHILL ROAD UNIVERSITY CITY MO 63130 $314,793.94
600120300 RYAN,MICHAEL R. 11316 VILLAGE RIDGE ROAD SAN DIEGO CA 92131 $228,511.96
600120301 SABO-GRAHAM,TONIA M. 2008 LAMAR COURT BOISE ID 83701 $239,826.29
<CAPTION>
INTEREST LNDR NET MGMT PC SCHEDULED
LOAN # BORROWER RATE FEE RATE FEE RATE MATURITY
------ -------------------- -------- ----- ------ ----- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C>
600120288 SIMMONS,JUDY F. 8.625 .200 8.425 .0400 8.385 11/01/2027
600120289 MARBELLA, JR.,IRENEO 7.250 .200 7.050 .0400 7.010 11/01/2027
600120291 MOORE, JR.,J.R. 7.125 .200 6.925 .0400 6.885 12/01/2027
600120292 LIMCANGCO,MICHAEL V 7.625 .200 7.425 .0400 7.385 12/01/2027
600120293 KIDWELL,WILLIAM H. 7.625 .200 7.425 .0400 7.385 09/01/2027
600120294 ALONIS,JAY J 7.375 .200 7.175 .0400 7.135 12/01/2027
600120295 HACKER,JOHN R 7.500 .200 7.300 .0400 7.260 09/01/2027
600120296 VILLAGOMEZ,DANIEL 8.000 .200 7.800 .0400 7.760 10/01/2027
600120298 MURPHY,MARTIN E 8.125 .575 7.550 .0400 7.510 12/01/2027
600120300 RYAN,MICHAEL R. 7.750 .200 7.550 .0400 7.510 10/01/2027
600120301 SABO-GRAHAM,TONIA M. 7.625 .200 7.425 .0400 7.385 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>
600120288 SIMMONS,JUDY F. 9545021 $2,372.26 01/01/1998 360
600120289 MARBELLA, JR.,IRENEO 9573924 $1,605.02 19 01/01/1998 360
600120291 MOORE, JR.,J.R. 9703901 $1,751.67 01/01/1998 360
600120292 LIMCANGCO,MICHAEL V 9713124 $1,981.83 01/01/1998 360
600120293 KIDWELL,WILLIAM H. 9767898 $2,526.83 19 01/01/1998 360
600120294 ALONIS,JAY J 9818345 $1,636.37 19 01/01/1998 360
600120295 HACKER,JOHN R 9837519 $1,728.46 99 01/01/1998 360
600120296 VILLAGOMEZ,DANIEL 9874975 $1,717.01 19 01/01/1998 360
600120298 MURPHY,MARTIN E 9883190 $2,338.87 3 01/01/1998 360
600120300 RYAN,MICHAEL R. 9987447 $1,640.59 19 01/01/1998 360
600120301 SABO-GRAHAM,TONIA M. 9990417 $1,698.71 01/01/1998 360
<CAPTION>
PER LIFE LIFE GROSS NET CERT. PROP BUYDOWN
LOAN # BORROWER CAP FLOOR CAP MARGIN MARGIN MARGIN VALUE TYPE
------ -------------------- ---- ----- ---- ------ ------ ------ ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
600120288 SIMMONS,JUDY F. $900,000.00 N
600120289 MARBELLA, JR.,IRENEO $261,450.00 N
600120291 MOORE, JR.,J.R. $355,000.00 N
600120292 LIMCANGCO,MICHAEL V $350,000.00 N
600120293 KIDWELL,WILLIAM H. $397,148.00 N
600120294 ALONIS,JAY J $263,247.00 N
600120295 HACKER,JOHN R $260,260.00 N
600120296 VILLAGOMEZ,DANIEL $266,000.00 N
600120298 MURPHY,MARTIN E $350,000.00 N
600120300 RYAN,MICHAEL R. $254,463.00 N
600120301 SABO-GRAHAM,TONIA M. $300,000.00 N
</TABLE>
<PAGE>
(vlegal.ace v1.4) Page 52
RUN DATE: 01/28/1998 PNC MORTGAGE SECURITIES CORP.
TIME: 14:59:20 LEGAL LOAN LISTING
REQUESTED STATUS AS OF 01/28/1998
POOL NUMBER: 5 POOL NAME: 1998-1 Group 5
<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
----- ------- ------- --------- --------- -----
<S> <C> <C> <C> <C> <C> <C>
** POOL
** TOTAL 711 0 235,481,387.71 327,798,787.31 235,971,047.00 1,740,894.38
</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 Buyers Selling Guide and the Buyers
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
pro-vided 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 Sellers 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 business-like
manner. Seller shall promptly notify Buyer in writing of any
E-1
<PAGE>
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) 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
Sellers 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 Buyers intent to sell
the mortgages to third parties in reliance upon Sellers warranties,
obligations and representation. The obligations of Seller under this
paragraph shall survive delivery and pay-ment 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
other-wise 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.
E-2
<PAGE>
10. SUBCONTRACTING OF SERVICING. Seller may not, without Buyers
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 Sellers 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.
12. ATTORNEYS 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 Buyers 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
E-3
<PAGE>
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 partys 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, bylaw, mortgage,
indenture, indebtedness, agreement, instrument, judgment, decree, order,
statute, rule, or regulation, and there is no such provision that adversely
affects either partys capacity to carry out any such obligation. Sellers and
Buyers 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-4
<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 authorized officer Date
Agreed to and accepted by PNC MORTGAGE SECURITIES CORP.
- ------------------------------------------------------------------------------
Typed name and title of authorized representative
- ---------------------------------------- ---------------------------------
Signature of authorized representative Date
E-5
<PAGE>
Exhibit F
FORM OF TRANSFEROR CERTIFICATE FOR
JUNIOR SUBORDINATE 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 1998-1, Class [ ] (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
JUNIOR SUBORDINATE 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 [ ]
Certificates evidencing an undivided interest in PNC Mortgage Securities
Corp. Mortgage Pass-Through Certificates, Series 1998-1 (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 January 1, 1998 (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 1998-1.
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
G-1
<PAGE>
Purchaser of the Purchased Certificates and all matters relating thereto that
PNC possesses or can acquire without unreasonable effort or expense; and
(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.
G-2
<PAGE>
IN WITNESS WHEREOF, the undersigned has caused this Agreement to be
validly executed by its duly authorized representative as of the day and the
year first above written.
[Purchaser]
By:
--------------------------
Its:
G-3
<PAGE>
Exhibit A to Form of Transferee Agreement (Exhibit G)
PNC MORTGAGE SECURITIES CORP.
BENEFIT PLAN AFFIDAVIT
RE: PNC MORTGAGE SECURITIES CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-1
(THE "TRUST") CLASS [ ] 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-4
<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-5
<PAGE>
Exhibit H
FORM OF ADDITIONAL MATTER INCORPORATED INTO
THE FORM OF THE MORTGAGE TRUST 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 "Mortgage Trust Fund") whose
assets consist of, among other things, (i) a portion of the 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 and (ii) the Group V Trust Certificates,
evidencing interests in a portion of such Mortgage Pool. 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
Mortgage Trust 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.
H-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:
-----------------------
H-2
<PAGE>
PNC MORTGAGE SECURITIES CORP.
MORTGAGE TRUST 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 Mortgage 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 Certificate Trust Certificates
evidencing Percentage Interests aggregating not less than 66% of the
Certificate 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
H-3
<PAGE>
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 therein
set forth, Certificates are exchangeable for new Certificates of Authorized
Denominations evidencing the same aggregate interest in the portion of the
Mortgage Trust 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 Group V Trust
Fund, the Mortgage Trust Fund and the Certificate 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 Mortgage Trust Fund and Group V Trust Fund or the disposition of all
property acquired upon foreclosure or deed in lieu of foreclosure of any
Mortgage Loan, and (ii) the payment to Certificateholders of all amounts held
by the Trustee and required to be paid to them pursuant to the Pooling
Agreement. In the event that the Company repurchases any Mortgage Loan
pursuant to the Pooling Agreement, such Pooling Agreement generally requires
that the Trustee distribute to the Certificateholders in the aggregate an
amount equal to 100% of the unpaid Principal Balance of such Mortgage Loan,
plus accrued interest at the applicable Pass-Through Rate to the next
scheduled Due Date for the Mortgage Loan. The Pooling Agreement permits, but
does not require, the Company to repurchase from the Mortgage Trust Fund and
Group V Trust Fund, as applicable, 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.
H-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 an 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.
H-5
<PAGE>
Exhibit I
TRANSFEROR CERTIFICATE
[Date]
U.S. Bank National Association, as Trustee
180 East 5th Street, SPFT0210
St. Paul, MN 55101
Attn: Structured Finance
RE: PNC MORTGAGE SECURITIES CORP. MORTGAGE PASS-THROUGH
CERTIFICATES, SERIES 1998-1, CLASS [R] [R-1] [R-2]
Ladies and Gentlemen:
This letter is delivered to you in connection with the sale (the
"Seller") to_________________ (the "Purchaser") of $____________________
initial Certificate Principal Balance of Mortgage Pass-Through Certificates,
Series 1998-1, Class [R] [R-1] [R-2] (the "Certificate"), pursuant to Section
5.01 of the Pooling and Servicing Agreement (the "Pooling Agreement"), dated
as of January 1, 1998 among PNC Mortgage Securities Corp., as depositor,
master servicer and certificate administrator (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:
------------------------------
I-2
<PAGE>
Exhibit J
TRANSFEREE AFFIDAVIT AND AGREEMENT
STATE OF )
) ss:
COUNTY OF )
[NAME OF OFFICER], being first duly sworn, deposes and says:
1. That he is [Title of Officer] of [Name of Owner] (record or
beneficial owner of the Class [R] [R-1] [R-2] 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] [R-1] [R-2] Certificates,
and (ii) is acquiring the Class [R] [R-1] [R-2] 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] [R-1] [R-2] 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 middle-man) for
a disqualified organization, on the agent; (iii) that the person other-wise
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]
[R-1] [R-2] 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] [R-1] [R-2] Certificates if at any time during
the taxable year of the pass-through entity a
J-1
<PAGE>
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] [R-1] [R-2] 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] [R-1] [R-2] Certificates and the provisions of Section
5.01 of the Pooling Agreement under which the Class [R] [R-1] [R-2]
Certificates were issued (in particular, clauses (iii)(A) and (iii)(B) of
Section 5.01(c) which authorize the Trustee to deliver payments to a person
other than the Owner and negotiate a mandatory sale by the Trustee in the
event the Owner holds such Certificates in violation of Section 5.01). The
Owner expressly agrees to be bound by and to comply with such restrictions
and provisions.
7. That the Owner consents to any additional restrictions or
arrangements that shall be deemed necessary upon advice of counsel to
constitute a reasonable arrangement to ensure that the Class [R] [R-1] [R-2]
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] [R-1] [R-2] 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] [R-1] [R-2] 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 Mortgage Trust Fund, Group V Trust Fund or the
Certificate Trust Fund.
15. The Owner hereby agrees that it will not take any action that
could endanger the REMIC status of the Mortgage Trust Fund, the Group V Trust
Fund or the Certificate Trust Fund, as
J-2
<PAGE>
applicable, or result in the imposition of tax on the Mortgage Trust Fund,
the Group V Trust Fund or the Certificate 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] [R-1] [R-2]
Certificates has represented to their transferor that, if the Class [R] [R-1]
[R-2] 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] [R-1]
[R-2] Certificates as they become due.
IN WITNESS WHEREOF, the Owner has caused this instrument to be
executed on its behalf, pursuant to the authority of its Board of Directors,
by its [Title of Officer] and its corporate seal to be hereunto attached,
attested by its [Assistant] Secretary, this_____day of______ , 19___.
[Name of Owner]
By:
-------------------------------
[Name of Officer]
[Title of Officer]
[Corporate Seal]
ATTEST:
[Assistant] Secretary
Personally appeared before me the above-named [Name of Officer], known
or proved to me to be the same person who executed the foregoing instrument
and to be the [Title of Officer] of the Owner, and Acknowledged to me that he
executed the same as his free act and deed and the free act and deed of the
Owner.
Subscribed and sworn before me this ___ day of __________________, 19__.
NOTARY PUBLIC
COUNTY OF
STATE OF
My Commission expires the ___ day
of_________, 19___
J-3
<PAGE>
Exhibit K
FORM OF ADDITIONAL MATTER INCORPORATED INTO
THE FORM OF THE CERTIFICATE TRUST 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 "Certificate Trust Fund") whose
assets consist of, among other things, Mortgage Trust Certificates evidencing
interests in a a trust fund (the "Mortgage Trust Fund") whose assets consist of
(i) a portion of the 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 and (ii) Group V Trust
Certificates, evidencing interests in, among other things, a portion of such
Mortgage Pool. 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 Certificate Trust
Available Distribution Amount for such Distribution Date then distributable on
the Certificates of this Class, as specified in Section 4.05 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 Certificate 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 Trust Certificates,
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 Certificate Trust Certificates evidencing Percentage
Interests aggregating not less than 66% of the Certificate 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 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
K-3
<PAGE>
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 therein
set forth, Certificates are exchangeable for new Certificates of Authorized
Denominations evidencing the same aggregate interest in the portion of the
Certificate Trust 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 Mortgage Trust
Fund, Group V Trust Fund and the Certificate 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 Mortgage
Trust Fund and the Group V Trust Fund or the disposition of all property
acquired upon foreclosure or deed in lieu of foreclosure of any Mortgage Loan,
and (ii) the payment to Certificateholders of all amounts held by the Trustee
and required to be paid to them pursuant to the Pooling Agreement. In the event
that the Company repurchases any Mortgage Loan pursuant to the Pooling
Agreement, such Pooling Agreement generally requires that the Trustee
distribute to the Certificateholders in the aggregate an amount equal to 100%
of the unpaid Principal Balance of such Mortgage Loan, plus accrued interest at
the applicable Pass-Through Rate to the next scheduled Due Date for the
Mortgage Loan. The Pooling Agreement permits, but does not require, the Company
to repurchase from the Mortgage Trust Fund and Group V 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
an 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 January 1, 1998
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 January 28, 1998 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.
L-1
<PAGE>
d. Neither the Buyer nor anyone acting on its behalf has
offered, transferred, pledged, sold or otherwise disposed of the Rule 144A
Securities, any interest in the Rule 144A Securities or any other similar
security to, or solicited any offer to buy or accept a transfer, pledge or
other disposition of the Rule 144A Securities, any interest in the Rule
144A Securities or any other similar security from, or otherwise
approached or negotiated with respect to the Rule 144A Securities, any
interest in the Rule 144A Securities or any other similar security with,
any person in any manner, or made any general solicitation by means of
general advertising or in any other manner, or taken any other action,
that would constitute a distribution of the Rule 144A Securities under the
1933 Act or that would render the disposition of the Rule 144A Securities
a violation of Section 5 of the 1933 Act or require registration pursuant
thereto, nor will it act, nor has it authorized or will it authorize any
person to act, in such manner with respect to the Rule 144A Securities.
e. The Buyer is a "qualified institutional buyer" as that
term is defined in Rule 144A under the 1933 Act and has (1) completed
either of the forms of certification to that effect attached hereto as
Annex 1 or Annex 2, or (2) obtained the waiver of the Company with respect
to Annex 1 and Annex 2 pursuant to Section 5.01(f) of the Agreement. The
Buyer is aware that the sale to it is being made in reliance on Rule 144A.
The Buyer is acquiring the Rule 144A Securities for its own account or the
accounts of other qualified institutional buyers, understands that such
Rule 144A Securities may be resold, pledged or transferred only (i) to a
person reasonably believed to be a qualified institutional buyer that
purchases for its own account or for the account of a qualified
institutional buyer to whom notice is given that the resale, pledge or
transfer is being made in reliance on Rule 144A, or (ii) pursuant to
another exemption from registration under the 1933 Act.
f. The Buyer is not affiliated with (i) the Trustee or (ii)
any Rating Agency that rated the Rule 144A Securities.
g. If applicable, the Buyer has complied, and will continue
to comply, with the guidelines established by Thrift Bulletin 12 issued
December 13, 1988, by the Office of Regulatory Activities of the Federal
Home Loan Bank System.
[Required only in the case of a transfer of a Class V-A-6, Class V-A-9 or
Subordinate Certificate] [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.]
L-2
<PAGE>
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-3
<PAGE>
Annex 1 to Exhibit L
QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A
[For Buyers Other Than Registered Investment Companies]
The undersigned hereby certifies as follows in connection with the Rule
144A Investment Representation to which this Certification is attached:
1. As indicated below, the undersigned is the President, Chief
Financial Officer, Senior Vice President or other executive officer of the
Buyer.
2. In connection with purchases by the Buyer, the Buyer is a
"qualified institutional buyer" as that term is defined in Rule 144A under
the Securities Act of 1933 ("Rule 144A") because (i) the Buyer owned and/or
invested on a discretionary basis $______________________(1) in securities
(except for the excluded securities referred to below) as of the end of the
Buyer's most recent fiscal year (such amount being calculated in accordance
with Rule 144A) and (ii) the Buyer satisfies the criteria in the category
marked below.
___ CORPORATION, ETC. The Buyer is a corporation (other than a bank,
savings and loan association or similar institution), Massachusetts or
similar business trust, partnership, or charitable organization described
in Section 501(c)(3) of the Internal Revenue Code.
___ BANK. The Buyer (a) is a national bank or banking institution
organized under the laws of any State, territory or the District of
Columbia, the business of which is substantially confined to banking and
is supervised by the State or territorial banking commission or similar
official or is a foreign bank or equivalent institution, and (b) has an
audited net worth of at least $25,000,000 as demonstrated in its latest
annual financial statements, A COPY OF WHICH IS ATTACHED HERETO.
___ SAVINGS AND LOAN. The Buyer (a) is a savings and loan association,
building and loan association, cooperative bank, homestead association or
similar institution, which is supervised and examined by a State or
Federal authority having supervision over any such institutions or is a
foreign savings and loan association or equivalent institution and (b) has
an audited net worth of at least $25,000,000 as demonstrated in its latest
annual financial statements.
___ BROKER-DEALER. The Buyer is a dealer registered pursuant to
Section 15 of the Securities Exchange Act of 1934.
___ INSURANCE COMPANY. The Buyer is an insurance company whose primary
and predominant business activity is the writing of insurance or the
reinsuring of risks underwritten by 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.
- ----------------------------
(1) Buyer must own and/or invest on a discretionary basis at lest
$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>
___ STATE OR LOCAL PLAN. The Buyer is a plan established and
maintained by a State, its political subdivisions, or any agency or
instrumentality of the State or its political subdivisions, for the
benefit of its employees.
___ ERISA PLAN. The Buyer is an employee benefit plan within the
meaning of Section 3(3) of the Employee Retirement Income Security Act
of 1974, as amended ("ERISA") and is subject to the fiduciary
responsibility provisions of ERISA.
___ INVESTMENT ADVISER. The Buyer is an investment adviser registered
under the Investment Advisers Act of 1940.
___ SBIC. The Buyer is a Small Business Investment Company licensed by
the U.S. Small Business Administration under Section 301(c) or (d) of the
Small Business Investment Act of 1958.
___ BUSINESS DEVELOPMENT COMPANY. The Buyer is a business development
company as defined in Section 202(a)(22) of the Investment Advisers Act of
1940.
___ TRUST FUND. The Buyer is a trust fund whose trustee is a bank or
trust company and whose participants are exclusively (a) plans established
and maintained by a State, its political subdivisions, or any agency or
instrumentality of the State or its political subdivisions, for the
benefit of its employees, or (b) employee benefit plans within the meaning
of Title I of the Employee Retirement Income Security Act of 1974, but is
not a trust fund that includes as participants individual retirement
accounts or H.R. 10 plans.
3. The term "SECURITIES" as used herein DOES NOT INCLUDE (i)
securities of issuers that are affiliated with the Buyer, (ii) securities
that are part of an unsold allotment to or subscription by the Buyer, if the
Buyer is a dealer, (iii) bank deposit notes and certificates of deposit, (iv)
loan participations, (v) repurchase agreements, (vi) securities owned but
subject to a repurchase agreement and (vii) currency, interest rate and
commodity swaps.
4. For purposes of determining the aggregate amount of securities
owned and/or invested on a discretionary basis by the Buyer, the Buyer used
the cost of such securities to the Buyer and did not include any of the
securities referred to in the preceding paragraph. Further, in determining
such aggregate amount, the Buyer may have included securities owned by
subsidiaries of the Buyer, but only if such subsidiaries are consolidated
with the Buyer in its financial statements prepared in accordance with
generally accepted accounting principles and if the investments of such
subsidiaries are managed under the Buyer's direction. However, such
securities were not included if the Buyer is a majority-owned, consolidated
subsidiary of another enterprise and the Buyer is not itself a reporting
company under the Securities Exchange Act of 1934.
5. The Buyer acknowledges that it is familiar with Rule 144A and
understands that the seller to it and other parties related to the
Certificates are relying and will continue to rely on the statements made
herein because one or more sales to the Buyer may be in reliance on Rule 144A.
L-1-2
<PAGE>
_______ _______ Will the Buyer be purchasing the Rule 144A
Yes No Securities only for the Buyer's own account?
6. If the answer to the foregoing question is "no", the Buyer
agrees that, in connection with any purchase of securities sold to the Buyer
for the account of a third party (including any separate account) in reliance
on Rule 144A, the Buyer will only purchase for the account of a third party
that at the time is a "qualified institutional buyer" within the meaning of
Rule 144A. In addition, the Buyer agrees that the Buyer will not purchase
securities for a third party unless the Buyer has obtained a current
representation letter from such third party or taken other appropriate steps
contemplated by Rule 144A to conclude that such third party independently
meets the definition of "qualified institutional buyer" set forth in Rule
144A.
7. The Buyer will notify each of the parties to which this
certification is made of any changes in the information and conclusions
herein. Until such notice is given, the Buyer's purchase of Rule 144A
Securities will constitute a reaffirmation of this certification as of the
date of such purchase.
---------------------------------------
Print Name of Buyer
By:
------------------------------------
Name:
Title:
Date:
----------------------------------
L-1-3
<PAGE>
ANNEX 2 TO EXHIBIT L
QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A
[For Buyers That Are Registered Investment Companies]
The undersigned hereby certifies as follows in connection with the Rule
144A Investment Representation to which this Certification is attached:
1. As indicated below, the undersigned is the President, Chief
Financial Officer or Senior Vice President of the Buyer or, if the Buyer is a
"qualified institutional buyer" as that term is defined in Rule 144A under
the Securities Act of 1933 ("Rule 144A") because Buyer is part of a Family of
Investment Companies (as defined below), is such an officer of the Adviser.
2. In connection with purchases by Buyer, the Buyer is a "qualified
institutional buyer" as defined in SEC Rule 144A because (i) the Buyer is an
investment company registered under the Investment Company Act of 1940, and
(ii) as marked below, the Buyer alone, or the Buyer's Family of Investment
Companies, owned at least $100,000,000 in securities (other than the excluded
securities referred to below) as of the end of the Buyer's most recent fiscal
year. For purposes of determining the amount of securities owned by the Buyer
or the Buyer's Family of Investment Companies, the cost of such securities
was used.
____ The Buyer owned $___________________ in securities (other than the
excluded securities referred to below) as of the end of the Buyer's most
recent fiscal year (such amount being calculated in accordance with Rule
144A).
____ The Buyer is part of a Family of Investment Companies which owned
in the aggregate $______________ in securities (other than the excluded
securities referred to below) as of the end of the Buyer's most recent
fiscal year (such amount being calculated in accordance with Rule 144A).
3. The term "FAMILY OF INVESTMENT COMPANIES" as used herein means
two or more registered investment companies (or series thereof) that have the
same investment adviser or investment advisers that are affiliated (by virtue
of being majority owned subsidiaries of the same parent or because one
investment adviser is a majority owned subsidiary of the other).
4. The term "SECURITIES" as used herein does not include (i)
securities of issuers that are affiliated with the Buyer or are part of the
Buyer's Family of Investment Companies, (ii) bank deposit notes and
certificates of deposit, (iii) loan participations, (iv) repurchase
agreements, (v) securities owned but subject to a repurchase agreement and
(vi) currency, interest rate and commodity swaps.
5. The Buyer is familiar with Rule 144A and understands that each
of the parties to which this certification is made are relying and will
continue to rely on the statements made herein because one or more sales to
the Buyer will be in reliance on Rule 144A. In addition, the Buyer will only
purchase for the Buyer's own account.
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
L-2-1
<PAGE>
Securities will constitute a reaffirmation of this certification by the
undersigned as of the date of such purchase.
---------------------------------
Print Name of Buyer
By:
------------------------------
Name:
Title:
Date:
----------------------------
IF AN ADVISER:
---------------------------------
Print Name of Buyer
By:
------------------------------
Name:
Title:
Date:
----------------------------
(SEAL)
L-2-2
<PAGE>
Exhibit M
[Date]
[Company]
Re: Pooling and Servicing Agreement dated as of January 1, 1998
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 1998-1
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
LIST OF DELINQUENT MORTGAGE LOANS PURSUANT TO SECTION 2.03(iv)
Mortgage Loan number 600120788
Mortgage Loan number 600120810
Mortgage Loan number 600126809
Mortgage Loan number 600120683
Mortgage Loan number 600120855
LIST OF MORTGAGE LOANS PURSUANT TO SECTION 2.03(xi) WITH A LOAN -TO VALUE
RATIO GREATER THAN 80% WITHOUT A PRIMARY INSURANCE POLICY OR FHA INSURANCE
POLICY OR VA GUARANTY
Mortgage Loan number 600120853
N-1
<PAGE>
EXHIBIT O
FORM OF ADDITIONAL MATTER INCORPORATED INTO
THE FORM OF THE GROUP V TRUST 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 "Group V Trust Fund") whose
assets consist of, among other things, a portion of the 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
Group V Trust 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.
N-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:
-------------------------
N-2
<PAGE>
PNC MORTGAGE SECURITIES CORP.
MORTGAGE PASS-THROUGH CERTIFICATE
This Certificate is one of a duly authorized issue of Certificates
designated as Group V Trust Pass-Through Certificates of the Series and Class
specified hereon (herein called the "Certificates") and representing certain
interests in the Group V 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 Group V Loans, all as more
specifically set forth herein and in the Pooling Agreement. In the event funds
are advanced with respect to any Group V 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 Certificate Trust Certificates evidencing Percentage
Interests aggregating not less than 66% of the Certificate 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
N-3
<PAGE>
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 therein
set forth, Certificates are exchangeable for new Certificates of Authorized
Denominations evidencing the same aggregate interest in the portion of the
Mortgage Trust 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 Mortgage Trust
Fund, the Certificate Trust Fund and the Group V 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 Mortgage Trust Fund and the Group V Trust Fund or the disposition of all
property acquired upon foreclosure or deed in lieu of foreclosure of any
Mortgage Loan, and (ii) the payment to Certificateholders of all amounts held
by the Trustee and required to be paid to them pursuant to the Pooling
Agreement. In the event that the Company repurchases any Mortgage Loan pursuant
to the Pooling Agreement, such Pooling Agreement generally requires that the
Trustee distribute to the Certificateholders in the aggregate an amount equal
to 100% of the unpaid Principal Balance of such Mortgage Loan, plus accrued
interest at the applicable Pass-Through Rate to the next scheduled Due Date for
the Mortgage Loan. The Pooling Agreement permits, but does not require, the
Company to repurchase from the Mortgage Trust Fund and the Group V 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.
N-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 an 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.
N-5
<PAGE>
EXHIBIT P
PLANNED PRINCIPAL BALANCE TABLE
<TABLE>
<CAPTION>
DISTRIBUTION DATE CLASS II-A-5 CLASS II-A-6 CLASS II-A-8 CLASS II-A-9 CLASS II-A-10
- -------------------------------- ---------------- ---------------- --------------- ---------------- ---------------
<S> <C> <C> <C> <C> <C>
Initial Balance................. $ 10,630,000.00 $ 21,969,000.00 $ 3,472,000.00 $ 46,123,000.00 $ 3,649,000.00
February 25, 1998............... 10,374,117.52 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
March 25, 1998.................. 10,083,763.76 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
April 25, 1998.................. 9,759,068.95 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
May 25, 1998.................... 9,400,125.35 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
June 25, 1998................... 9,007,182.65 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
July 25, 1998................... 8,580,366.33 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
August 25, 1998................. 8,119,819.48 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
September 25, 1998.............. 7,625,702.79 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
October 25, 1998................ 7,098,194.44 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
November 25, 1998............... 6,537,490.04 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
December 25, 1998............... 5,943,802.52 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
January 25, 1999................ 5,317,361.97 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
February 25, 1999............... 4,658,415.58 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
March 25, 1999.................. 3,967,227.43 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
April 25, 1999.................. 3,244,078.35 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
May 25, 1999.................... 2,489,265.75 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
June 25, 1999................... 1,703,103.41 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
July 25, 1999................... 885,921.27 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
August 25, 1999................. 38,104.65 21,969,000.00 3,472,000.00 46,123,000.00 3,649,000.00
September 25, 1999.............. 0.00 21,129,117.22 3,472,000.00 46,123,000.00 3,649,000.00
October 25, 1999................ 0.00 20,221,420.33 3,472,000.00 46,123,000.00 3,649,000.00
November 25, 1999............... 0.00 19,284,556.25 3,472,000.00 46,123,000.00 3,649,000.00
December 25, 1999............... 0.00 18,319,121.98 3,472,000.00 46,123,000.00 3,649,000.00
January 25, 2000................ 0.00 17,325,677.19 3,472,000.00 46,123,000.00 3,649,000.00
February 25, 2000............... 0.00 16,304,811.95 3,472,000.00 46,123,000.00 3,649,000.00
March 25, 2000.................. 0.00 15,257,342.22 3,472,000.00 46,123,000.00 3,649,000.00
April 25, 2000.................. 0.00 14,185,257.72 3,472,000.00 46,123,000.00 3,649,000.00
May 25, 2000.................... 0.00 13,095,049.17 3,472,000.00 46,123,000.00 3,649,000.00
June 25, 2000................... 0.00 12,003,005.93 3,472,000.00 46,123,000.00 3,649,000.00
July 25, 2000................... 0.00 10,916,105.95 3,472,000.00 46,123,000.00 3,649,000.00
August 25, 2000................. 0.00 9,834,686.45 3,472,000.00 46,123,000.00 3,649,000.00
September 25, 2000.............. 0.00 8,758,719.63 3,472,000.00 46,123,000.00 3,649,000.00
October 25, 2000................ 0.00 7,688,177.86 3,472,000.00 46,123,000.00 3,649,000.00
November 25, 2000............... 0.00 6,623,033.64 3,472,000.00 46,123,000.00 3,649,000.00
December 25, 2000............... 0.00 5,563,259.60 3,472,000.00 46,123,000.00 3,649,000.00
January 25, 2001................ 0.00 4,508,828.54 3,472,000.00 46,123,000.00 3,649,000.00
February 25, 2001............... 0.00 3,459,713.41 3,472,000.00 46,123,000.00 3,649,000.00
March 25, 2001.................. 0.00 2,415,887.27 3,472,000.00 46,123,000.00 3,649,000.00
April 25, 2001.................. 0.00 1,377,323.35 3,472,000.00 46,123,000.00 3,649,000.00
May 25, 2001.................... 0.00 343,995.02 3,472,000.00 46,123,000.00 3,649,000.00
June 25, 2001................... 0.00 0.00 2,787,875.78 46,123,000.00 3,649,000.00
July 25, 2001................... 0.00 0.00 1,764,939.27 46,123,000.00 3,649,000.00
August 25, 2001................. 0.00 0.00 747,159.29 46,123,000.00 3,649,000.00
September 25, 2001.............. 0.00 0.00 0.00 45,857,509.77 3,649,000.00
October 25, 2001................ 0.00 0.00 0.00 44,849,964.75 3,649,000.00
</TABLE>
S-104
<PAGE>
<TABLE>
<CAPTION>
DISTRIBUTION DATE CLASS II-A-5 CLASS II-A-6 CLASS II-A-8 CLASS II-A-9 CLASS II-A-10
- -------------------------------- ---------------- ---------------- --------------- ---------------- ---------------
<S> <C> <C> <C> <C> <C>
November 25, 2001............... $ 0.00 $ 0.00 $ 0.00 $ 43,847,498.45 $ 3,649,000.00
December 25, 2001............... 0.00 0.00 0.00 42,850,085.21 3,649,000.00
January 25, 2002................ 0.00 0.00 0.00 41,857,699.50 3,649,000.00
February 25, 2002............... 0.00 0.00 0.00 40,870,315.93 3,649,000.00
March 25, 2002.................. 0.00 0.00 0.00 39,887,909.26 3,649,000.00
April 25, 2002.................. 0.00 0.00 0.00 38,910,454.36 3,649,000.00
May 25, 2002.................... 0.00 0.00 0.00 37,937,926.25 3,649,000.00
June 25, 2002................... 0.00 0.00 0.00 36,970,300.08 3,649,000.00
July 25, 2002................... 0.00 0.00 0.00 36,007,551.13 3,649,000.00
August 25, 2002................. 0.00 0.00 0.00 35,049,654.82 3,649,000.00
September 25, 2002.............. 0.00 0.00 0.00 34,096,586.69 3,649,000.00
October 25, 2002................ 0.00 0.00 0.00 33,148,322.41 3,649,000.00
November 25, 2002............... 0.00 0.00 0.00 32,204,837.79 3,649,000.00
December 25, 2002............... 0.00 0.00 0.00 31,266,108.77 3,649,000.00
January 25, 2003................ 0.00 0.00 0.00 30,332,111.40 3,649,000.00
February 25, 2003............... 0.00 0.00 0.00 29,418,394.85 3,649,000.00
March 25, 2003.................. 0.00 0.00 0.00 28,509,303.50 3,649,000.00
April 25, 2003.................. 0.00 0.00 0.00 27,604,813.56 3,649,000.00
May 25, 2003.................... 0.00 0.00 0.00 26,704,901.40 3,649,000.00
June 25, 2003................... 0.00 0.00 0.00 25,809,543.47 3,649,000.00
July 25, 2003................... 0.00 0.00 0.00 24,918,716.38 3,649,000.00
August 25, 2003................. 0.00 0.00 0.00 24,032,396.83 3,649,000.00
September 25, 2003.............. 0.00 0.00 0.00 23,150,561.66 3,649,000.00
October 25, 2003................ 0.00 0.00 0.00 22,273,187.83 3,649,000.00
November 25, 2003............... 0.00 0.00 0.00 21,400,252.42 3,649,000.00
December 25, 2003............... 0.00 0.00 0.00 20,531,732.62 3,649,000.00
January 25, 2004................ 0.00 0.00 0.00 19,667,605.76 3,649,000.00
February 25, 2004............... 0.00 0.00 0.00 18,812,873.77 3,649,000.00
March 25, 2004.................. 0.00 0.00 0.00 17,962,459.27 3,649,000.00
April 25, 2004.................. 0.00 0.00 0.00 17,129,512.30 3,649,000.00
May 25, 2004.................... 0.00 0.00 0.00 16,323,744.96 3,649,000.00
June 25, 2004................... 0.00 0.00 0.00 15,544,317.67 3,649,000.00
July 25, 2004................... 0.00 0.00 0.00 14,790,416.16 3,649,000.00
August 25, 2004................. 0.00 0.00 0.00 14,061,250.75 3,649,000.00
September 25, 2004.............. 0.00 0.00 0.00 13,356,055.59 3,649,000.00
October 25, 2004................ 0.00 0.00 0.00 12,674,087.95 3,649,000.00
November 25, 2004............... 0.00 0.00 0.00 12,014,627.56 3,649,000.00
December 25, 2004............... 0.00 0.00 0.00 11,376,975.87 3,649,000.00
January 25, 2005................ 0.00 0.00 0.00 10,760,455.51 3,649,000.00
February 25, 2005............... 0.00 0.00 0.00 10,209,234.70 3,649,000.00
March 25, 2005.................. 0.00 0.00 0.00 9,676,419.16 3,649,000.00
April 25, 2005.................. 0.00 0.00 0.00 9,161,424.42 3,649,000.00
May 25, 2005.................... 0.00 0.00 0.00 8,663,684.05 3,649,000.00
June 25, 2005................... 0.00 0.00 0.00 8,182,649.09 3,649,000.00
July 25, 2005................... 0.00 0.00 0.00 7,717,787.53 3,649,000.00
August 25, 2005................. 0.00 0.00 0.00 7,268,583.80 3,649,000.00
September 25, 2005.............. 0.00 0.00 0.00 6,834,538.24 3,649,000.00
October 25, 2005................ 0.00 0.00 0.00 6,415,166.66 3,649,000.00
November 25, 2005............... 0.00 0.00 0.00 6,009,999.85 3,649,000.00
December 25, 2005............... 0.00 0.00 0.00 5,618,583.12 3,649,000.00
</TABLE>
S-105
<PAGE>
<TABLE>
<CAPTION>
DISTRIBUTION DATE CLASS II-A-5 CLASS II-A-6 CLASS II-A-8 CLASS II-A-9 CLASS II-A-10
- -------------------------------- ---------------- ---------------- --------------- ---------------- ---------------
<S> <C> <C> <C> <C> <C>
January 25, 2006................ $ 0.00 $ 0.00 $ 0.00 $ 5,240,475.88 $ 3,649,000.00
February 25, 2006............... 0.00 0.00 0.00 4,910,877.52 3,649,000.00
March 25, 2006.................. 0.00 0.00 0.00 4,592,183.61 3,649,000.00
April 25, 2006.................. 0.00 0.00 0.00 4,284,043.90 3,649,000.00
May 25, 2006.................... 0.00 0.00 0.00 3,986,119.13 3,649,000.00
June 25, 2006................... 0.00 0.00 0.00 3,698,080.73 3,649,000.00
July 25, 2006................... 0.00 0.00 0.00 3,419,610.46 3,649,000.00
August 25, 2006................. 0.00 0.00 0.00 3,150,400.07 3,649,000.00
September 25, 2006.............. 0.00 0.00 0.00 2,890,151.07 3,649,000.00
October 25, 2006................ 0.00 0.00 0.00 2,638,574.32 3,649,000.00
November 25, 2006............... 0.00 0.00 0.00 2,395,389.84 3,649,000.00
December 25, 2006............... 0.00 0.00 0.00 2,160,326.45 3,649,000.00
January 25, 2007................ 0.00 0.00 0.00 1,933,121.55 3,649,000.00
February 25, 2007............... 0.00 0.00 0.00 1,739,830.49 3,649,000.00
March 25, 2007.................. 0.00 0.00 0.00 1,552,426.56 3,649,000.00
April 25, 2007.................. 0.00 0.00 0.00 1,370,732.15 3,649,000.00
May 25, 2007.................... 0.00 0.00 0.00 1,194,574.98 3,649,000.00
June 25, 2007................... 0.00 0.00 0.00 1,023,787.92 3,649,000.00
July 25, 2007................... 0.00 0.00 0.00 858,208.87 3,649,000.00
August 25, 2007................. 0.00 0.00 0.00 697,680.57 3,649,000.00
September 25, 2007.............. 0.00 0.00 0.00 542,050.48 3,649,000.00
October 25, 2007................ 0.00 0.00 0.00 391,261.47 3,649,000.00
November 25, 2007............... 0.00 0.00 0.00 245,074.42 3,649,000.00
December 25, 2007............... 0.00 0.00 0.00 103,350.27 3,649,000.00
January 25, 2008................ 0.00 0.00 0.00 0.00 3,614,954.17
February 25, 2008............... 0.00 0.00 0.00 0.00 3,481,755.28
March 25, 2008.................. 0.00 0.00 0.00 0.00 3,352,626.72
April 25, 2008.................. 0.00 0.00 0.00 0.00 3,227,445.39
May 25, 2008.................... 0.00 0.00 0.00 0.00 3,106,091.89
June 25, 2008................... 0.00 0.00 0.00 0.00 2,988,450.41
July 25, 2008................... 0.00 0.00 0.00 0.00 2,874,408.62
August 25, 2008................. 0.00 0.00 0.00 0.00 2,763,857.56
September 25, 2008.............. 0.00 0.00 0.00 0.00 2,656,691.52
October 25, 2008................ 0.00 0.00 0.00 0.00 2,552,808.00
November 25, 2008............... 0.00 0.00 0.00 0.00 2,452,107.56
December 25, 2008............... 0.00 0.00 0.00 0.00 2,354,493.76
January 25, 2009................ 0.00 0.00 0.00 0.00 2,259,873.04
February 25, 2009............... 0.00 0.00 0.00 0.00 2,168,154.66
March 25, 2009.................. 0.00 0.00 0.00 0.00 2,079,250.62
April 25, 2009.................. 0.00 0.00 0.00 0.00 1,993,075.55
May 25, 2009.................... 0.00 0.00 0.00 0.00 1,909,546.66
June 25, 2009................... 0.00 0.00 0.00 0.00 1,828,583.64
July 25, 2009................... 0.00 0.00 0.00 0.00 1,750,108.61
August 25, 2009................. 0.00 0.00 0.00 0.00 1,674,046.02
September 25, 2009.............. 0.00 0.00 0.00 0.00 1,600,322.60
October 25, 2009................ 0.00 0.00 0.00 0.00 1,528,867.28
November 25, 2009............... 0.00 0.00 0.00 0.00 1,459,611.14
December 25, 2009............... 0.00 0.00 0.00 0.00 1,392,487.33
January 25, 2010................ 0.00 0.00 0.00 0.00 1,327,431.02
February 25, 2010............... 0.00 0.00 0.00 0.00 1,264,379.33
</TABLE>
S-106
<PAGE>
<TABLE>
<CAPTION>
DISTRIBUTION DATE CLASS II-A-5 CLASS II-A-6 CLASS II-A-8 CLASS II-A-9 CLASS II-A-10
- -------------------------------- ---------------- ---------------- --------------- ---------------- ---------------
<S> <C> <C> <C> <C> <C>
March 25, 2010.................. $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 1,203,271.26
April 25, 2010.................. 0.00 0.00 0.00 0.00 1,144,047.67
May 25, 2010.................... 0.00 0.00 0.00 0.00 1,086,651.20
June 25, 2010................... 0.00 0.00 0.00 0.00 1,031,026.21
July 25, 2010................... 0.00 0.00 0.00 0.00 977,118.74
August 25, 2010................. 0.00 0.00 0.00 0.00 924,876.47
September 25, 2010.............. 0.00 0.00 0.00 0.00 874,248.64
October 25, 2010................ 0.00 0.00 0.00 0.00 825,186.03
November 25, 2010............... 0.00 0.00 0.00 0.00 777,640.93
December 25, 2010............... 0.00 0.00 0.00 0.00 731,567.02
January 25, 2011................ 0.00 0.00 0.00 0.00 686,919.42
February 25, 2011............... 0.00 0.00 0.00 0.00 643,654.60
March 25, 2011.................. 0.00 0.00 0.00 0.00 601,730.33
April 25, 2011.................. 0.00 0.00 0.00 0.00 561,105.66
May 25, 2011.................... 0.00 0.00 0.00 0.00 521,740.90
June 25, 2011................... 0.00 0.00 0.00 0.00 483,597.53
July 25, 2011................... 0.00 0.00 0.00 0.00 446,638.21
August 25, 2011................. 0.00 0.00 0.00 0.00 410,826.72
September 25, 2011.............. 0.00 0.00 0.00 0.00 376,127.96
October 25, 2011................ 0.00 0.00 0.00 0.00 342,507.87
November 25, 2011............... 0.00 0.00 0.00 0.00 309,933.42
December 25, 2011............... 0.00 0.00 0.00 0.00 278,372.60
January 25, 2012................ 0.00 0.00 0.00 0.00 247,794.34
February 25, 2012............... 0.00 0.00 0.00 0.00 218,168.54
March 25, 2012.................. 0.00 0.00 0.00 0.00 189,466.00
April 25, 2012.................. 0.00 0.00 0.00 0.00 161,658.40
May 25, 2012.................... 0.00 0.00 0.00 0.00 134,718.29
June 25, 2012................... 0.00 0.00 0.00 0.00 108,619.04
July 25, 2012................... 0.00 0.00 0.00 0.00 83,334.84
August 25, 2012................. 0.00 0.00 0.00 0.00 58,840.66
September 25, 2012.............. 0.00 0.00 0.00 0.00 35,112.22
October 25, 2012................ 0.00 0.00 0.00 0.00 12,125.98
November 25, 2012 and
thereafter.................... 0.00 0.00 0.00 0.00 0.00
</TABLE>
S-107
<PAGE>
EXHIBIT Q
TARGETED PRINCIPAL BALANCE TABLES
<TABLE>
<CAPTION>
COMBINED
CLASS
COMPONENT CLASS II-A-3 AND
DISTRIBUTION DATE II-A-1-2 II-A-3 II-A-4
- ----------------------------------------------------------- ---------------- ---------------- ----------------
<S> <C> <C> <C>
Initial Balance............................................ $ 52,000,000.00 $ 14,650,000.00 $ 45,863,733.00
February 25, 1998.......................................... 52,309,833.33 14,289,520.83 45,322,984.40
March 25, 1998............................................. 52,621,512.76 13,926,893.81 44,729,333.64
April 25, 1998............................................. 52,935,049.27 13,562,106.14 44,083,004.39
May 25, 1998............................................... 53,250,453.94 13,195,144.94 43,384,212.96
June 25, 1998.............................................. 53,567,737.89 12,825,997.26 42,633,498.59
July 25, 1998.............................................. 53,886,912.33 12,454,650.08 41,831,247.58
August 25, 1998............................................ 54,207,988.52 12,081,090.28 40,977,936.99
September 25, 1998......................................... 54,530,977.78 11,705,304.69 40,074,134.26
October 25, 1998........................................... 54,855,891.53 11,327,280.05 39,120,496.61
November 25, 1998.......................................... 55,182,741.21 10,947,003.01 38,117,770.30
December 25, 1998.......................................... 55,511,538.38 10,564,460.16 37,066,789.54
January 25, 1999........................................... 55,842,294.63 10,179,637.98 35,968,475.31
February 25, 1999.......................................... 56,175,021.63 9,792,522.91 34,823,833.89
March 25, 1999............................................. 56,509,731.14 9,403,101.27 33,633,955.20
April 25, 1999............................................. 56,846,434.95 9,011,359.33 32,400,010.93
May 25, 1999............................................... 57,185,144.96 8,617,283.27 31,123,252.46
June 25, 1999.............................................. 57,525,873.12 8,220,859.16 29,805,008.55
July 25, 1999.............................................. 57,868,631.44 7,822,073.03 28,446,682.91
August 25, 1999............................................ 58,213,432.04 7,420,910.80 27,049,809.47
September 25, 1999......................................... 58,560,287.07 7,017,358.31 25,616,080.85
October 25, 1999........................................... 58,909,208.78 6,611,401.32 24,147,223.70
November 25, 1999.......................................... 59,260,209.48 6,203,025.50 22,645,117.84
December 25, 1999.......................................... 59,613,301.57 5,792,216.45 21,111,751.11
January 25, 2000........................................... 59,968,497.49 5,378,959.65 19,549,080.97
February 25, 2000.......................................... 60,325,809.79 4,963,240.54 17,959,131.86
March 25, 2000............................................. 60,685,251.07 4,545,044.43 16,344,270.61
April 25, 2000............................................. 61,046,834.02 4,124,356.57 14,708,545.00
May 25, 2000............................................... 61,410,571.41 3,701,162.11 13,062,358.41
June 25, 2000.............................................. 61,776,476.06 3,275,446.12 11,429,756.26
July 25, 2000.............................................. 62,144,560.90 2,847,193.57 9,820,667.52
August 25, 2000............................................ 62,514,838.91 2,416,389.35 8,235,206.33
September 25, 2000......................................... 62,887,323.16 1,983,018.25 6,672,953.76
October 25, 2000........................................... 63,262,026.79 1,547,064.98 5,133,496.55
November 25, 2000.......................................... 63,638,963.03 1,108,514.16 3,616,426.95
December 25, 2000.......................................... 64,018,145.19 667,350.31 2,121,342.68
January 25, 2001........................................... 64,399,586.64 223,557.85 647,846.85
February 25, 2001.......................................... 63,978,848.74 0.00 0.00
March 25, 2001............................................. 62,933,360.83 0.00 0.00
April 25, 2001............................................. 61,910,602.21 0.00 0.00
May 25, 2001............................................... 60,910,210.50 0.00 0.00
June 25, 2001.............................................. 59,931,828.43 0.00 0.00
July 25, 2001.............................................. 58,975,103.76 0.00 0.00
August 25, 2001............................................ 58,039,689.21 0.00 0.00
</TABLE>
S-108
<PAGE>
<TABLE>
<CAPTION>
COMBINED
CLASS
COMPONENT CLASS II-A-3 AND
DISTRIBUTION DATE II-A-1-2 II-A-3 II-A-4
- ----------------------------------------------------------- ---------------- ---------------- ----------------
<S> <C> <C> <C>
September 25, 2001......................................... $ 57,125,242.40 $ 0.00 $ 0.00
October 25, 2001........................................... 56,231,425.75 0.00 0.00
November 25, 2001.......................................... 55,357,906.47 0.00 0.00
December 25, 2001.......................................... 54,504,356.46 0.00 0.00
January 25, 2002........................................... 53,670,452.24 0.00 0.00
February 25, 2002.......................................... 52,855,874.88 0.00 0.00
March 25, 2002............................................. 52,060,309.98 0.00 0.00
April 25, 2002............................................. 51,283,447.56 0.00 0.00
May 25, 2002............................................... 50,524,982.04 0.00 0.00
June 25, 2002.............................................. 49,784,612.12 0.00 0.00
July 25, 2002.............................................. 49,062,040.81 0.00 0.00
August 25, 2002............................................ 48,356,975.26 0.00 0.00
September 25, 2002......................................... 47,669,126.80 0.00 0.00
October 25, 2002........................................... 46,998,210.84 0.00 0.00
November 25, 2002.......................................... 46,343,946.81 0.00 0.00
December 25, 2002.......................................... 45,706,058.11 0.00 0.00
January 25, 2003........................................... 45,084,272.05 0.00 0.00
February 25, 2003.......................................... 44,503,479.52 0.00 0.00
March 25, 2003............................................. 43,938,059.13 0.00 0.00
April 25, 2003............................................. 43,387,750.16 0.00 0.00
May 25, 2003............................................... 42,852,295.61 0.00 0.00
June 25, 2003.............................................. 42,331,442.12 0.00 0.00
July 25, 2003.............................................. 41,824,939.90 0.00 0.00
August 25, 2003............................................ 41,332,542.76 0.00 0.00
September 25, 2003......................................... 40,854,007.96 0.00 0.00
October 25, 2003........................................... 40,389,096.23 0.00 0.00
November 25, 2003.......................................... 39,937,571.71 0.00 0.00
December 25, 2003.......................................... 39,499,201.87 0.00 0.00
January 25, 2004........................................... 39,073,757.50 0.00 0.00
February 25, 2004.......................................... 38,668,741.94 0.00 0.00
March 25, 2004............................................. 38,276,082.27 0.00 0.00
April 25, 2004............................................. 37,882,387.51 0.00 0.00
May 25, 2004............................................... 37,477,707.93 0.00 0.00
June 25, 2004.............................................. 37,062,648.62 0.00 0.00
July 25, 2004.............................................. 36,637,792.52 0.00 0.00
August 25, 2004............................................ 36,203,701.11 0.00 0.00
September 25, 2004......................................... 35,760,915.07 0.00 0.00
October 25, 2004........................................... 35,309,955.00 0.00 0.00
November 25, 2004.......................................... 34,851,322.04 0.00 0.00
December 25, 2004.......................................... 34,385,498.48 0.00 0.00
January 25, 2005........................................... 33,912,948.42 0.00 0.00
February 25, 2005.......................................... 33,412,835.43 0.00 0.00
March 25, 2005............................................. 32,907,923.99 0.00 0.00
April 25, 2005............................................. 32,398,597.60 0.00 0.00
May 25, 2005............................................... 31,885,224.46 0.00 0.00
June 25, 2005.............................................. 31,368,157.93 0.00 0.00
July 25, 2005.............................................. 30,847,737.10 0.00 0.00
August 25, 2005............................................ 30,324,287.20 0.00 0.00
</TABLE>
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<PAGE>
<TABLE>
<CAPTION>
COMBINED
CLASS
COMPONENT CLASS II-A-3 AND
DISTRIBUTION DATE II-A-1-2 II-A-3 II-A-4
- ----------------------------------------------------------- ---------------- ---------------- ----------------
<S> <C> <C> <C>
September 25, 2005......................................... $ 29,798,120.08 $ 0.00 $ 0.00
October 25, 2005........................................... 29,269,534.70 0.00 0.00
November 25, 2005.......................................... 28,738,817.50 0.00 0.00
December 25, 2005.......................................... 28,206,242.87 0.00 0.00
January 25, 2006........................................... 27,672,073.51 0.00 0.00
February 25, 2006.......................................... 27,121,935.95 0.00 0.00
March 25, 2006............................................. 26,571,802.70 0.00 0.00
April 25, 2006............................................. 26,021,859.98 0.00 0.00
May 25, 2006............................................... 25,472,285.21 0.00 0.00
June 25, 2006.............................................. 24,923,247.31 0.00 0.00
July 25, 2006.............................................. 24,374,907.01 0.00 0.00
August 25, 2006............................................ 23,827,417.14 0.00 0.00
September 25, 2006......................................... 23,280,922.91 0.00 0.00
October 25, 2006........................................... 22,735,562.18 0.00 0.00
November 25, 2006.......................................... 22,191,465.73 0.00 0.00
December 25, 2006.......................................... 21,648,757.48 0.00 0.00
January 25, 2007........................................... 21,107,554.81 0.00 0.00
February 25, 2007.......................................... 20,559,762.07 0.00 0.00
March 25, 2007............................................. 20,014,664.63 0.00 0.00
April 25, 2007............................................. 19,472,310.14 0.00 0.00
May 25, 2007............................................... 18,932,742.64 0.00 0.00
June 25, 2007.............................................. 18,396,002.70 0.00 0.00
July 25, 2007.............................................. 17,862,127.53 0.00 0.00
August 25, 2007............................................ 17,331,151.11 0.00 0.00
September 25, 2007......................................... 16,803,104.34 0.00 0.00
October 25, 2007........................................... 16,278,628.93 0.00 0.00
November 25, 2007.......................................... 15,757,126.33 0.00 0.00
December 25, 2007.......................................... 15,238,618.86 0.00 0.00
January 25, 2008........................................... 14,723,126.21 0.00 0.00
February 25, 2008.......................................... 14,210,665.50 0.00 0.00
March 25, 2008............................................. 13,701,251.43 0.00 0.00
April 25, 2008............................................. 13,194,896.33 0.00 0.00
May 25, 2008............................................... 12,691,610.31 0.00 0.00
June 25, 2008.............................................. 12,191,401.28 0.00 0.00
July 25, 2008.............................................. 11,694,275.08 0.00 0.00
August 25, 2008............................................ 11,200,235.59 0.00 0.00
September 25, 2008......................................... 10,709,284.74 0.00 0.00
October 25, 2008........................................... 10,221,422.66 0.00 0.00
November 25, 2008.......................................... 9,736,647.69 0.00 0.00
December 25, 2008.......................................... 9,254,956.52 0.00 0.00
January 25, 2009........................................... 8,776,344.20 0.00 0.00
February 25, 2009.......................................... 8,300,804.28 0.00 0.00
March 25, 2009............................................. 7,828,328.79 0.00 0.00
April 25, 2009............................................. 7,358,908.38 0.00 0.00
May 25, 2009............................................... 6,892,532.32 0.00 0.00
June 25, 2009.............................................. 6,429,188.62 0.00 0.00
July 25, 2009.............................................. 5,968,864.04 0.00 0.00
August 25, 2009............................................ 5,511,544.16 0.00 0.00
</TABLE>
S-110
<PAGE>
<TABLE>
<CAPTION>
COMBINED
CLASS
COMPONENT CLASS II-A-3 AND
DISTRIBUTION DATE II-A-1-2 II-A-3 II-A-4
- ----------------------------------------------------------- ---------------- ---------------- ----------------
<S> <C> <C> <C>
September 25, 2009......................................... $ 5,057,213.46 $ 0.00 $ 0.00
October 25, 2009........................................... 4,605,855.32 0.00 0.00
November 25, 2009.......................................... 4,157,452.12 0.00 0.00
December 25, 2009.......................................... 3,711,985.26 0.00 0.00
January 25, 2010........................................... 3,269,435.21 0.00 0.00
February 25, 2010.......................................... 2,829,781.57 0.00 0.00
March 25, 2010............................................. 2,393,003.10 0.00 0.00
April 25, 2010............................................. 1,959,077.75 0.00 0.00
May 25, 2010............................................... 1,527,982.72 0.00 0.00
June 25, 2010.............................................. 1,099,694.52 0.00 0.00
July 25, 2010.............................................. 674,188.95 0.00 0.00
August 25, 2010............................................ 251,441.18 0.00 0.00
September 25, 2010 and thereafter.......................... 0.00 0.00 0.00
</TABLE>
S-111
