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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D. C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 25, 1998
MORGAN STANLEY CAPITAL I, INC.
Mortgage Pass-Through Certificates, Series 1998-1 Trust
New York (governing law of 333-45467 PENDING
Pooling and Servicing Agreement) (Commission (IRS EIN)
(State or other File Number)
jurisdiction
c/o Norwest Bank Minnnesota, N.A.
7485 New Horizon Way 21703
Frederick, MD (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (301) 696-7900
Former name or former address, if changed since last report)
ITEM 5. Other Events
On June 25, 1998 a distribution was made to holders of MORGAN STANLEY
CAPITAL I, INC., Mortgage Pass-Through Certificates, Series 1998-1 Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 1998-1 Trust,
relating to the June 25, 1998 distribution.
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.
MORGAN STANLEY CAPITAL I, INC.
Mortgage Pass-Through Certificates, Series 1998-1 Trust
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri J. Sharps, Vice president
By: Sherri J. Sharps, Vice president
Date: 7/3/1998
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-1 Trust, relating to the June 25,
1998 distribution.
<TABLE>
<CAPTION>
Morgan Stanley Mortgage Capital Inc.
Mortgage Pass-Through Certificates
Record Date: 5/29/1998
Distribution Date: 6/25/1998
MSMC Series: 1998-1
Contact: Customer Service - Columbia, MD
Norwest Bank Minnesota, N.A.
Securities Administration Services
11000 Broken Land Parkway
Columbia, MD 21044
Telephone: (301) 815-6600
Fax: (410) 884-2369
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<S> <C> <C> <C> <C> <C> <C>
A-1 61745MFU2 SEQ 6.75000% 82,772,013.85 465,592.58 3,836,224.26
A-2 61745MFV0 SEQ 6.75000% 17,439,000.00 98,094.38 0.00
A-3 61745MFW8 SEQ 6.75000% 15,322,000.00 86,186.25 0.00
A-4 61745MFX6 SEQ 6.75000% 15,350,000.00 86,343.75 0.00
A-5 61745MFY4 SEQ 6.75000% 66,710,346.95 375,245.70 731,878.48
B-1 61745MGC1 SUB 6.75000% 5,731,628.16 32,240.41 6,998.13
B-2 61745MGD9 SUB 6.75000% 3,438,777.60 19,343.12 4,198.64
B-3 61745MGE7 SUB 6.75000% 2,292,850.55 12,897.28 2,799.50
B-4 899888ZH7 SUB 6.75000% 2,980,406.78 16,764.79 3,638.98
B-5 899888ZI5 SUB 6.75000% 1,146,923.51 6,451.44 1,400.36
B-6 899888ZJ3 SUB 6.75000% 344,000.32 1,935.00 420.01
B-7 899888ZK0 SUB 6.75000% 458,666.77 2,580.00 560.02
B-8 899888ZL8 SUB 6.75000% 802,671.87 4,515.03 980.03
PO1 61745MGB3 SEQ 0.00000% 261,865.56 0.00 811.49
X-1 61745MFZ1 IO 1.18516% 0.00 138,091.05 0.00
X-2 61745MGA5 IO 1.19067% 0.00 69,018.21 0.00
R 61745MGF4 SEQ 6.75000% 0.00 0.00 0.00
Totals 215,051,151.92 1,415,298.99 4,589,909.90
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
A-1 0.00 78,935,789.58 4,301,816.84 0.00
A-2 0.00 17,439,000.00 98,094.38 0.00
A-3 0.00 15,322,000.00 86,186.25 0.00
A-4 0.00 15,350,000.00 86,343.75 0.00
A-5 0.00 65,978,468.47 1,107,124.18 0.00
B-1 0.00 5,724,630.02 39,238.54 0.00
B-2 0.00 3,434,578.97 23,541.76 0.00
B-3 0.00 2,290,051.06 15,696.78 0.00
B-4 0.00 2,976,767.80 20,403.77 0.00
B-5 0.00 1,145,523.15 7,851.80 0.00
B-6 0.00 343,580.31 2,355.01 0.00
B-7 0.00 458,106.75 3,140.02 0.00
B-8 0.00 801,691.84 5,495.06 0.00
PO1 0.00 261,054.07 811.49 0.00
X-1 0.00 0.00 138,091.05 0.00
X-2 0.00 0.00 69,018.21 0.00
R 0.00 0.00 0.00 0.00
Totals 0.00 210,461,242.02 6,005,208.89 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
Edward M. Frere, Jr.
Vice President, Norwest Bank Minnesota, N.A.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<S> <C> <C> <C> <C> <C> <C>
A-1 92,964,000.00 82,772,013.85 80,638.70 3,755,585.56 0.00 0.00
A-2 17,439,000.00 17,439,000.00 0.00 0.00 0.00 0.00
A-3 15,322,000.00 15,322,000.00 0.00 0.00 0.00 0.00
A-4 15,350,000.00 15,350,000.00 0.00 0.00 0.00 0.00
A-5 71,475,000.00 66,710,346.95 161,529.88 570,348.60 0.00 0.00
B-1 5,752,000.00 5,731,628.16 6,998.13 0.00 0.00 0.00
B-2 3,451,000.00 3,438,777.60 4,198.64 0.00 0.00 0.00
B-3 2,301,000.00 2,292,850.55 2,799.50 0.00 0.00 0.00
B-4 2,991,000.00 2,980,406.78 3,638.98 0.00 0.00 0.00
B-5 1,151,000.00 1,146,923.51 1,400.36 0.00 0.00 0.00
B-6 345,223.00 344,000.32 420.01 0.00 0.00 0.00
B-7 460,297.00 458,666.77 560.02 0.00 0.00 0.00
B-8 805,524.80 802,671.87 980.03 0.00 0.00 0.00
PO1 275,457.00 261,865.56 610.90 200.59 0.00 0.00
X-1 0.00 0.00 0.00 0.00 0.00 0.00
X-2 0.00 0.00 0.00 0.00 0.00 0.00
R 100.00 0.00 0.00 0.00 0.00 0.00
Totals 230,082,601.80 215,051,151.92 263,775.15 4,326,134.75 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C>
A-1 3,836,224.26 78,935,789.58 0.84910062 3,836,224.26
A-2 0.00 17,439,000.00 1.00000000 0.00
A-3 0.00 15,322,000.00 1.00000000 0.00
A-4 0.00 15,350,000.00 1.00000000 0.00
A-5 731,878.48 65,978,468.47 0.92309854 731,878.48
B-1 6,998.13 5,724,630.02 0.99524166 6,998.13
B-2 4,198.64 3,434,578.97 0.99524166 4,198.64
B-3 2,799.50 2,290,051.06 0.99524166 2,799.50
B-4 3,638.98 2,976,767.80 0.99524166 3,638.98
B-5 1,400.36 1,145,523.15 0.99524166 1,400.36
B-6 420.01 343,580.31 0.99524166 420.01
B-7 560.02 458,106.75 0.99524166 560.02
B-8 980.03 801,691.84 0.99524166 980.03
PO1 811.49 261,054.07 0.94771260 811.49
X-1 0.00 0.00 0.00000000 0.00
X-2 0.00 0.00 0.00000000 0.00
R 0.00 0.00 0.00000000 0.00
Totals 4,589,909.90 210,461,242.02 0.91472037 4,589,909.90
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<S> <C> <C> <C> <C> <C>
A-1 92,964,000.00 890.36631223 0.86741857 40.39827847 0.00000000
A-2 17,439,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3 15,322,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-4 15,350,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-5 71,475,000.00 933.33818748 2.25994935 7.97969360 0.00000000
B-1 5,752,000.00 996.45830320 1.21664291 0.00000000 0.00000000
B-2 3,451,000.00 996.45830194 1.21664445 0.00000000 0.00000000
B-3 2,301,000.00 996.45830074 1.21664494 0.00000000 0.00000000
B-4 2,991,000.00 996.45830157 1.21664326 0.00000000 0.00000000
B-5 1,151,000.00 996.45830582 1.21664639 0.00000000 0.00000000
B-6 345,223.00 996.45828928 1.21663389 0.00000000 0.00000000
B-7 460,297.00 996.45830844 1.21664925 0.00000000 0.00000000
B-8 805,524.80 996.45829650 1.21663542 0.00000000 0.00000000
PO1 275,457.00 950.65857829 2.21776902 0.72820803 0.00000000
X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) Per $1000 Denomination.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 41.26569704 849.10061508 0.84910062 41.26569704
A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-5 0.00000000 10.23964295 923.09854453 0.92309854 10.23964295
B-1 0.00000000 1.21664291 995.24165855 0.99524166 1.21664291
B-2 0.00000000 1.21664445 995.24166039 0.99524166 1.21664445
B-3 0.00000000 1.21664494 995.24166015 0.99524166 1.21664494
B-4 0.00000000 1.21664326 995.24165831 0.99524166 1.21664326
B-5 0.00000000 1.21664639 995.24165943 0.99524166 1.21664639
B-6 0.00000000 1.21663389 995.24165539 0.99524166 1.21663389
B-7 0.00000000 1.21664925 995.24165919 0.99524166 1.21664925
B-8 0.00000000 1.21663542 995.24166109 0.99524166 1.21663542
PO1 0.00000000 2.94597705 947.71260124 0.94771260 2.94597705
X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A-1 92,964,000.00 6.75000% 82,772,013.85 465,592.58 0.00 0.00
A-2 17,439,000.00 6.75000% 17,439,000.00 98,094.38 0.00 0.00
A-3 15,322,000.00 6.75000% 15,322,000.00 86,186.25 0.00 0.00
A-4 15,350,000.00 6.75000% 15,350,000.00 86,343.75 0.00 0.00
A-5 71,475,000.00 6.75000% 66,710,346.95 375,245.70 0.00 0.00
B-1 5,752,000.00 6.75000% 5,731,628.16 32,240.41 0.00 0.00
B-2 3,451,000.00 6.75000% 3,438,777.60 19,343.12 0.00 0.00
B-3 2,301,000.00 6.75000% 2,292,850.55 12,897.28 0.00 0.00
B-4 2,991,000.00 6.75000% 2,980,406.78 16,764.79 0.00 0.00
B-5 1,151,000.00 6.75000% 1,146,923.51 6,451.44 0.00 0.00
B-6 345,223.00 6.75000% 344,000.32 1,935.00 0.00 0.00
B-7 460,297.00 6.75000% 458,666.77 2,580.00 0.00 0.00
B-8 805,524.80 6.75000% 802,671.87 4,515.03 0.00 0.00
PO1 275,457.00 0.00000% 261,865.56 0.00 0.00 0.00
X-1 0.00 1.18516% 139,823,574.48 138,094.12 0.00 0.00
X-2 0.00 1.19067% 69,561,609.40 69,020.65 0.00 0.00
R 100.00 6.75000% 0.00 0.00 0.00 0.00
Totals 230,082,601.80 1,415,304.50 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A-1 0.00 0.00 465,592.58 0.00 78,935,789.58
A-2 0.00 0.00 98,094.38 0.00 17,439,000.00
A-3 0.00 0.00 86,186.25 0.00 15,322,000.00
A-4 0.00 0.00 86,343.75 0.00 15,350,000.00
A-5 0.00 0.00 375,245.70 0.00 65,978,468.47
B-1 0.00 0.00 32,240.41 0.00 5,724,630.02
B-2 0.00 0.00 19,343.12 0.00 3,434,578.97
B-3 0.00 0.00 12,897.28 0.00 2,290,051.06
B-4 0.00 0.00 16,764.79 0.00 2,976,767.80
B-5 0.00 0.00 6,451.44 0.00 1,145,523.15
B-6 0.00 0.00 1,935.00 0.00 343,580.31
B-7 0.00 0.00 2,580.00 0.00 458,106.75
B-8 0.00 0.00 4,515.03 0.00 801,691.84
PO1 0.00 0.00 0.00 0.00 261,054.07
X-1 0.00 0.00 138,091.05 0.00 135,985,422.74
X-2 0.00 0.00 69,018.21 0.00 68,828,005.59
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 1,415,298.99 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
A-1 92,964,000.00 6.75000% 890.36631223 5.00831053 0.00000000 0.00000000
A-2 17,439,000.00 6.75000% 1000.00000000 5.62500029 0.00000000 0.00000000
A-3 15,322,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-4 15,350,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-5 71,475,000.00 6.75000% 933.33818748 5.25002728 0.00000000 0.00000000
B-1 5,752,000.00 6.75000% 996.45830320 5.60507823 0.00000000 0.00000000
B-2 3,451,000.00 6.75000% 996.45830194 5.60507679 0.00000000 0.00000000
B-3 2,301,000.00 6.75000% 996.45830074 5.60507605 0.00000000 0.00000000
B-4 2,991,000.00 6.75000% 996.45830157 5.60507857 0.00000000 0.00000000
B-5 1,151,000.00 6.75000% 996.45830582 5.60507385 0.00000000 0.00000000
B-6 345,223.00 6.75000% 996.45828928 5.60507266 0.00000000 0.00000000
B-7 460,297.00 6.75000% 996.45830844 5.60507672 0.00000000 0.00000000
B-8 805,524.80 6.75000% 996.45829650 5.60507883 0.00000000 0.00000000
PO1 275,457.00 0.00000% 950.65857829 0.00000000 0.00000000 0.00000000
X-1 0.00 1.18516% 916.10990012 0.90477869 0.00000000 0.00000000
X-2 0.00 1.19067% 898.08958372 0.89110542 0.00000000 0.00000000
R 100.00 6.75000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) Per $1000 Denomination
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 0.00000000 5.00831053 0.00000000 849.10061508
A-2 0.00000000 0.00000000 5.62500029 0.00000000 1000.00000000
A-3 0.00000000 0.00000000 5.62500000 0.00000000 1000.00000000
A-4 0.00000000 0.00000000 5.62500000 0.00000000 1000.00000000
A-5 0.00000000 0.00000000 5.25002728 0.00000000 923.09854453
B-1 0.00000000 0.00000000 5.60507823 0.00000000 995.24165855
B-2 0.00000000 0.00000000 5.60507679 0.00000000 995.24166039
B-3 0.00000000 0.00000000 5.60507605 0.00000000 995.24166015
B-4 0.00000000 0.00000000 5.60507857 0.00000000 995.24165831
B-5 0.00000000 0.00000000 5.60507385 0.00000000 995.24165943
B-6 0.00000000 0.00000000 5.60507266 0.00000000 995.24165539
B-7 0.00000000 0.00000000 5.60507672 0.00000000 995.24165919
B-8 0.00000000 0.00000000 5.60507883 0.00000000 995.24166109
PO1 0.00000000 0.00000000 0.00000000 0.00000000 947.71260124
X-1 0.00000000 0.00000000 0.90475858 0.00000000 890.96271860
X-2 0.00000000 0.00000000 0.89107391 0.00000000 888.61823959
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 6,057,941.84
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 6,057,941.84
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 52,732.95
Payment of Interest and Principal 6,005,208.89
Total Withdrawals (Pool Distribution Amount) 6,057,941.84
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 52,732.95
Certificate Administration Fee 0.00
Trustee Fee 0.00
Special Hazard Fee 0.00
Pool Insurance Fee 0.00
Spread 1 Fee 0.00
Spread 2 Fee 0.00
Spread 3 Fee 0.00
Master Servicing Fee 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 52,732.95
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
<S> <C> <C> <C> <C>
30 Days 5 604,119.03 0.449236% 0.287020%
60 Days 1 72,702.76 0.089847% 0.034542%
90+ Days 2 106,550.18 0.179695% 0.050623%
Foreclosure 2 120,676.22 0.179695% 0.057334%
REO 0 0.00 0.000000% 0.000000%
Totals 10 904,048.19 0.898473% 0.429519%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
</TABLE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 137,665.00 0.05983286% 137,665.00 0.06540544%
Fraud 4,601,652.03 2.00000000% 4,601,652.03 2.18627154%
Special Hazard 3,036,384.00 1.31969300% 3,036,384.00 1.44260363%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed Fixed Ratio Strip
Weighted Average Gross Coupon 8.146796%
Weighted AverageNet Coupon 7.896796%
Weighted Average Pass-Through Rate 7.896796%
Weighted Average Maturity(Stepdown Calculation ) 271
Begin Scheduled Collateral Loan Count 1,133
Number Of Loans Paid In Full 20
End Scheduled Collateral Loan Count 1,113
Begining Scheduled Collateral Balance 215,069,346.96
Ending Scheduled Collateral Balance 210,479,437.06
Ending Actual Collateral Balance at 29-May-1998 210,479,437.06
Monthly P &I Constant 1,679,074.13
Ending Scheduled Balance for Premium Loans 210,479,437.06
Scheduled Principal 263,775.14
Unscheduled Principal 4,326,134.76
Remic Reserve Fund Balance 105,000.00
Outside Reserve Fund Balance 0.00
Group 1 Net Simple Interest 1,012.24
Excess/(Shortfall)
Group 2 Net Simple Interest 6,914.60
Excess/(Shortfall)
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2
Fixed 30 Year Fixed 15 Year
Collateral Description 7.658604 7.623648
Weighted Average Net Rate 338.00 142.00
Weighted Average Maturity 639.00 494.00
Begining Loan Count 29.00 20.00
Loans Paid In Full 626.00 487.00
Ending Loan Count 142,421,042.94 72,648,304.02
Begining Scheduled Balance 138,577,614.63 71,901,822.43
Ending Scheduled Balance 98-05-29 98-05-29
Record Date 1,026,419.33 652,654.80
Principal And Interest Constant 87,792.98 175,982.16
Scheduled Principal 3,755,635.33 570,499.43
Unscheduled Principal
Group ID 1 2
Subordinate Amount 0.00 0.00
Subordinate Reduction Amount 0.00 0.00
Required Subordinate Amount 0.00 0.00
Subordinate Increase Amount 0.00 0.00
Extra Principal Distribution Amount 0.00 0.00
Excess Cash Amount 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Delinquincy Status By Groups
Groups 30 Days 60 Days 90 + Days Foreclosures REOs
Number Amount Number Amount Number Amount Number Amount Number Amount
<S> <C> <C> <C> <C> <C> <C>
1 3 477,620.63 1 72,702.76 1 68,643.92 2 120,676.22 0 0.00
2 2 126,498.40 0 0.00 0 0.00 0 0.00 0 0.00
Total 5 604,119.03 1 72,702.76 1 68,643.92 2 120,676.22 0 0.00
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