<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
For the Month of December, 1997
PNC MORTGAGE SECURITIES CORP.
MORTGAGE PASS-THROUGH CERTIFICATES,
SERIES: 1995-3 (1374)
(Exact name of the registrant as specified in charter)
Delaware 33-53016 36-4050406
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
Incorporation) Number)
75 NORTH FAIRWAY DRIVE
VERNON HILLS, IL 60061
(Address of principal executive offices)
Registrant's telephone number, including area code:
(847) 549-6500
<PAGE>
ITEM 5.
See Exhibit A, the Distribution Report for the Month of December, 1997,
attached hereto.
ITEM 7.
FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION, AND EXHIBITS:
EXHIBITS:
A. PNC Mortgage Securities Corp., Mortgage Pass-Through Certificates,
SERIES: 1995-3 (1374), Monthly Distribution Report for December 1997.
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 hereunto duly authorized.
Dated: January 8, 1998
PNC MORTGAGE SECURITIES CORP.
(Registrant)
By: /s/ (RICHIE MOORE)
------------------
RICHIE MOORE
SECOND VICE PRESIDENT
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT A
PNC MORTGAGE SECURITIES CORP.
MASTER SERVICING
MORTGAGE PASS-THROUGH CERTIFICATES
12/1997 DISTRIBUTION REPORT
PROCESSING MONTH: 11/1997
SERIES: 1995-3 (1374) WEIGHTED AVERAGE PC RATE: 7.2824
- - ----------------------------------------------------------------------------------------
<S> <C>
ISSUE DATE: 11/30/1995
CERTIFICATE BALANCE AT ISSUE: $79,829,153.84
<CAPTION>
CERTIFICATE
TOTAL ACCOUNT CERTIFICATE
NUMBER OF ACTIVITY BALANCE
MORTGAGES (@ PC RATE) OUTSTANDING
--------- ------------ ---------------
<S> <C> <C> <C>
BALANCES FROM LAST FISCAL MONTH-END: 208 $55,792,478.88
PRINCIPAL POOL COLLECTION(S):
Scheduled Principal Collected Due Current Month $52,142.26
Unscheduled Principal Collection/Reversals $16,671.07
Liquidations-in-full 8 $2,060,052.35
Principal Balance Sales Adjustments $0.00
Net Principal Distributed $2,128,865.68 -$2,128,865.68
CAPITAL LOSS (PRINCIPAL WRITTEN OFF) $0.00
BALANCE CURRENT FISCAL MONTH-END: 200 $53,663,613.20
SCHEDULED INTEREST AT MORTGAGE RATE: $370,609.08
UNSCHEDULED INTEREST AT MORTGAGE RATE:
Unscheduled Interest Collections/Reversals -$49.68
Interest Sales Adjustments $0.00
Interest Accrual Adjustment $0.00
Interest Uncollected on Liquidation $0.00
Interest Uncollected on Non-Earning Assets $0.00
Net Unscheduled Interest Distributed -$49.68
OTHER:
Loan Conversion Fees $0.00
Expense Reimbursements $0.00
Gain on Liquidations $0.00
Hazard Insurance Premium Refunds $0.00
Net Other Distributions $0.00
SCHEDULED SERVICING FEE EXPENSES: $31,365.98
UNSCHEDULED SERVICING FEES:
Unscheduled Service Fee Collections/Reversals -$1.07
Servicing Fees Sales Adjustments $0.00
Servicing Fees Accrual Adjustments $0.00
Servicing Fees Uncollected on Liquidation $0.00
Servicing Fees Uncollected/Non-Earning Assets $0.00
Net Unscheduled Service Fees Distributed -$1.07
MISCELLANEOUS EXPENSES: $0.00
NET FUNDS DISTRIBUTED: $2,468,060.17
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
PNC MORTGAGE SECURITIES CORP.
MASTER SERVICING
MORTGAGE PASS-THROUGH CERTIFICATES
12/1997 DISTRIBUTION REPORT
PROCESSING MONTH: 11/1997
SERIES: 1995-3 (1374) WEIGHTED AVERAGE PC RATE: 7.2824
- - ----------------------------------------------------------------------------------------
<CAPTION>
AGGREGATE LOSS AMOUNTS FROM INCEPTION OF POOL
- - ----------------------------------------------------------------------------------------
LOAN COUNT OF AGGREGATE LOSS
INCURRED LOSSES AMOUNT
<S> <C>
0 $0.00
<CAPTION>
SUMMARY OF DISTRIBUTIONS FOR CURRENT CYCLE
- - ----------------------------------------------------------------------------------------
PRINCIPAL SCHEDULED INTEREST NET INTEREST TOTAL
DISTRIBUTION INTEREST DUE ADJUSTMENT DISTRIBUTION OTHER DISTRIBUTION
<S> <C> <C> <C> <C> <C>
$2,128,865.68 $339,243.10 -$48.61 $339,194.49 $0.00 $2,468,060.17
<CAPTION>
INSURANCE RESERVES*
- - -------------------
COVERAGE
INSURANCE TYPE ORIGINAL BALANCE CLAIMS IN PROGRESS CLAIMS PAID ADJUSTMENTS REMAINING
-------------- ---------------- ------------------ ----------- ----------- ---------
<S> <C> <C> <C> <C> <C>
MPI $5,588,040.00 $1,768.69 $0.00 $0.00 $5,588,040.00
SPECIAL HAZARD $1,482,812.00 $0.00 $0.00 $96,610.00 $1,386,202.00
BANKRUPTCY BOND
SINGLE -UNITS $100,000.00 $0.00 $0.00 $0.00 $100,000.00
MULTI-UNITS $0.00 $0.00 $0.00 $0.00 $0.00
MORTGAGE
REPURCHASE $0.00 $0.00 $0.00 $0.00 $0.00
<CAPTION>
DELINQUENT INSTALLMENTS
- - -----------------------
ONE TWO THREE
----------------------- ---------------------- ----------------------
COUNT PRIN BALANCE COUNT PRIN BALANCE COUNT PRIN BALANCE
----------------------- ---------------------- ----------------------
<S> <C> <C> <C> <C> <C>
4 $833,165.14 0 $0.00 0 $0.00
IN FORECLOSURE ACQUIRED
----------------------- ----------------------
COUNT PRIN BALANCE COUNT PRIN BALANCE
----------------------- ----------------------
<S> <C> <C> <C>
0 $0.00 0 $0.00
</TABLE>
* THE BANKRUPTCY RESERVE FUND PROVIDES COVERAGE FOR THREE POOLS OF MORGAGE
LOANS IN ADDITION TO THE POOL OF MORTGAGE LOANSUNDERLYING THE SERIES 1995-3
CERTIFICATES. THE COVERAGE PROVIDED BY THE BANKRUPTCY RESERVE FUND MAY BE
EXTENDED, SUBJECT TO CERTAIN RESTRICTIONS, TO ADDITIONAL POOLS.
<TABLE>
<CAPTION>
<S> <C> <C> <C>
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT A
DELINQUENT* MORTGAGE LOANS (AS OF November 30, 1997):
SERIES: 1995-3 (1374)
I II III
TOTAL LOANS TOTAL
IN DELINQ. LOANS DELINQUENT
MORTGAGE POOL LOANS 1 MONTH
-------------------------------------------------------
<S> <C> <C> <C>
DOLLAR AMOUNT $53,663,613.20** $833,165.14*** $833,165.14***
NUMBER 200 4 4
% OF POOL
(DOLLARS) 100.00% 1.55% 1.55%
% OF POOL
(NO. OF LOANS) 100.00% 2.00% 2.00%
<CAPTION>
IV V VI
LOANS DELINQUENT LOANS DELINQUENT LOANS IN
2 MONTH 3 MONTH FORECLOSURE
-------------------------------------------------------
<S> <C> <C> <C>
DOLLAR AMOUNT $0.00*** $0.00*** $0.00***
NUMBER 0 0 0
% OF POOL
(DOLLARS) 0.00% 0.00% 0.00%
% OF POOL
(NO. OF LOANS) 0.00% 0.00% 0.00%
<CAPTION>
VII
LOANS
ACQUIRED
------------------
<S> <C>
DOLLAR AMOUNT $0.00***
NUMBER 0
% OF POOL
(DOLLARS) 0.00%
% OF POOL
(NO. OF LOANS) 0.00%
* A Mortgage Loan is considered delinquent in a given month when a payment
due on the first day of the prior month has not been made on or before the
first day of such prior month.
** Reflects the outstanding principal balance of the Mortgage Pool after the
application of all December 01, 1997 scheduled payments and November 01, 1997
unscheduled payments on the mortgage loans.
*** Reflects outstanding principal balance of delinquent mortgage loans as of
November 30, 1997.
Trading Factor, calculated as of distribution date December 26, 1997: 0.67223077.
By multiplying this factor by the original balance of the Mortgage Pool as of
the Cut-Off Date, current outstanding balance of the Mortgage Pool (after
application of scheduled payments up to and including December 01, 1997, and
unscheduled prepayments in months prior to November) can be calculated.
</TABLE>
