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): April 27, 1998
MORGAN STANLEY CAPITAL I, INC.
Mortgage Pass-Through Certificates, Series 1998-1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-45467 PENDING
Pooling and Servicing Agreement) (Commission (I.R.S. Employer
(State or other File Number) Identification No.)
jurisdiction
c/o Norwest Bank Minnnesota, N.A.
7485 New Horizon Way
Frederick, MD 21703
(Address of principal executive offices) (Zip Code)
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 April 27, 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 April 27, 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: 5/4/1998
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 April 27,
1998 distribution.
<TABLE>
<CAPTION>
Morgan Stanley Mortgage Capital Inc.
Mortgage Pass-Through Certificates
Record Date: 3/31/1998
Distribution Date: 4/27/1998
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: (410) 884-2173
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% 92,964,000.00 522,922.50 6,826,840.88
A-2 61745MFV0 SEQ 6.75000% 17,439,000.00 98,094.37 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% 71,475,000.00 402,046.88 3,521,359.65
B-1 61745MGC1 SUB 6.75000% 5,752,000.00 32,355.00 13,674.22
B-2 61745MGD9 SUB 6.75000% 3,451,000.00 19,411.88 8,204.06
B-3 61745MGE7 SUB 6.75000% 2,301,000.00 12,943.12 5,470.17
B-4 899888ZH7 SUB 6.75000% 2,991,000.00 16,824.38 7,110.50
B-5 899888ZI5 SUB 6.75000% 1,151,000.00 6,474.38 2,736.27
B-6 899888ZJ3 SUB 6.75000% 345,223.00 1,941.88 820.70
B-7 899888ZK0 SUB 6.75000% 460,297.00 2,589.17 1,094.26
B-8 899888ZL8 SUB 6.75000% 805,524.80 4,531.08 1,914.97
PO1 61745MGB3 SEQ 0.00000% 275,457.00 0.00 13,243.84
X-1 61745MFZ1 IO 1.20339% 0.00 150,037.57 0.00
X-2 61745MGA5 IO 1.21076% 0.00 74,912.24 0.00
R 61745MGF4 SEQ 6.75000% 100.00 0.56 100.00
Totals 230,082,601.80 1,517,615.01 10,402,569.52
</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 $86,137,159.12 $7,349,763.38 $0.00
A-2 $0.00 $17,439,000.00 $98,094.37 $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 $67,953,640.35 $3,923,406.53 $0.00
B-1 $0.00 $5,738,325.78 $46,029.22 $0.00
B-2 $0.00 $3,442,795.94 $27,615.94 $0.00
B-3 $0.00 $2,295,529.83 $18,413.29 $0.00
B-4 $0.00 $2,983,889.50 $23,934.88 $0.00
B-5 $0.00 $1,148,263.73 $9,210.65 $0.00
B-6 $0.00 $344,402.30 $2,762.58 $0.00
B-7 $0.00 $459,202.74 $3,683.43 $0.00
B-8 $0.00 $803,609.83 $6,446.05 $0.00
PO1 $0.00 $262,213.16 $13,243.84 $0.00
X-1 $0.00 $0.00 $150,037.57 $0.00
X-2 $0.00 $0.00 $74,912.24 $0.00
R $0.00 $0.00 $100.56 $0.00
Totals $0.00 $219,680,032.28 $11,920,184.53 $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 92,964,000.00 179,484.31 6,665,756.57 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 71,475,000.00 326,160.49 3,195,199.16 0.00 0.00
B-1 5,752,000.00 5,752,000.00 13,674.22 0.00 0.00 0.00
B-2 3,451,000.00 3,451,000.00 8,204.06 0.00 0.00 0.00
B-3 2,301,000.00 2,301,000.00 5,470.17 0.00 0.00 0.00
B-4 2,991,000.00 2,991,000.00 7,110.50 0.00 0.00 0.00
B-5 1,151,000.00 1,151,000.00 2,736.27 0.00 0.00 0.00
B-6 345,223.00 345,223.00 820.70 0.00 0.00 0.00
B-7 460,297.00 460,297.00 1,094.26 0.00 0.00 0.00
B-8 805,524.80 805,524.80 1,812.19 0.00 0.00 0.00
PO1 275,457.00 275,457.00 2,213.53 11,030.31 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 100.00 100.00 2.64 97.36 0.00 0.00
100.00 100.00 2.64 97.36 0.00 0.00
Totals $230,082,701.80 $230,082,701.80 $548,785.98 $9,872,180.76 $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 $6,826,840.88 $86,137,159.12 0.92656468 $6,826,840.88
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 $3,521,359.65 $67,953,640.35 0.95073299 $3,521,359.65
B-1 $13,674.22 $5,738,325.78 0.99762270 $13,674.22
B-2 $8,204.06 $3,442,795.94 0.99762270 $8,204.06
B-3 $5,470.17 $2,295,529.83 0.99762270 $5,470.17
B-4 $7,110.50 $2,983,889.50 0.99762270 $7,110.50
B-5 $2,736.27 $1,148,263.73 0.99762270 $2,736.27
B-6 $820.70 $344,402.30 0.99762270 $820.70
B-7 $1,094.26 $459,202.74 0.99762271 $1,094.26
B-8 $1,914.97 $803,609.83 0.99762271 $1,914.97
PO1 $13,243.84 $262,213.16 0.95192048 $13,243.84
X-1 $0.00 $0.00 0.00000000 $0.00
X-2 $0.00 $0.00 0.00000000 $0.00
R $100.00 $0.00 0.00000000 $100.00
R $100.00 $0.00 0.00000000 $100.00
Totals $10,402,669.52 $219,680,032.28 0.95478726 $10,402,669.52
</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 1000.00000000 1.93068618 71.70255766 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 1000.00000000 4.56328073 44.70373081 0.00000000
B-1 5,752,000.00 1000.00000000 2.37729833 0.00000000 0.00000000
B-2 3,451,000.00 1000.00000000 2.37729933 0.00000000 0.00000000
B-3 2,301,000.00 1000.00000000 2.37730117 0.00000000 0.00000000
B-4 2,991,000.00 1000.00000000 2.37729856 0.00000000 0.00000000
B-5 1,151,000.00 1000.00000000 2.37729800 0.00000000 0.00000000
B-6 345,223.00 1000.00000000 2.37730395 0.00000000 0.00000000
B-7 460,297.00 1000.00000000 2.37729118 0.00000000 0.00000000
B-8 805,524.80 1000.00000000 2.24970106 0.00000000 0.00000000
PO1 275,457.00 1000.00000000 8.03584589 40.04367288 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 1000.00000000 26.40000000 973.60000000 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 73.43531776 926.56468224 0.92656468 73.43531776
A-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
A-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
A-4 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
A-5 0.00000000 49.26701154 950.73298846 0.95073299 49.26701154
B-1 0.00000000 2.37729833 997.62270167 0.99762270 2.37729833
B-2 0.00000000 2.37729933 997.62270067 0.99762270 2.37729933
B-3 0.00000000 2.37730117 997.62269883 0.99762270 2.37730117
B-4 0.00000000 2.37729856 997.62270144 0.99762270 2.37729856
B-5 0.00000000 2.37729800 997.62270200 0.99762270 2.37729800
B-6 0.00000000 2.37730395 997.62269605 0.99762270 2.37730395
B-7 0.00000000 2.37729118 997.62270882 0.99762271 2.37729118
B-8 0.00000000 2.37729490 997.62270510 0.99762271 2.37729490
PO1 0.00000000 48.07951876 951.92048124 0.95192048 48.07951876
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 1000.00000000 0.00000000 0.00000000 1000.00000000
<FN>
(3) 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>
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% 92,964,000.00 522,922.50 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% 71,475,000.00 402,046.88 0.00 0.00
B-1 5,752,000.00 6.75000% 5,752,000.00 32,355.00 0.00 0.00
B-2 3,451,000.00 6.75000% 3,451,000.00 19,411.88 0.00 0.00
B-3 2,301,000.00 6.75000% 2,301,000.00 12,943.12 0.00 0.00
B-4 2,991,000.00 6.75000% 2,991,000.00 16,824.38 0.00 0.00
B-5 1,151,000.00 6.75000% 1,151,000.00 6,474.38 0.00 0.00
B-6 345,223.00 6.75000% 345,223.00 1,941.88 0.00 0.00
B-7 460,297.00 6.75000% 460,297.00 2,589.17 0.00 0.00
B-8 805,524.80 6.75000% 805,524.80 4,531.08 0.00 0.00
PO1 275,457.00 0.00000% 275,457.00 0.00 0.00 0.00
X-1 0.00 1.20339% 149,722,752.08 150,145.61 0.00 0.00
X-2 0.00 1.21076% 74,342,057.22 75,008.90 0.00 0.00
R 100.00 6.75000% 100.00 0.56 0.00 0.00
Totals 230,082,601.80 1,517,819.72 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 0.00 522,922.50 0.00 86,137,159.12
A-2 0.00 0.00 98,094.37 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 0.00 402,046.88 0.00 67,953,640.35
B-1 0.00 0.00 32,355.00 0.00 5,738,325.78
B-2 0.00 0.00 19,411.88 0.00 3,442,795.94
B-3 0.00 0.00 12,943.12 0.00 2,295,529.83
B-4 0.00 0.00 16,824.38 0.00 2,983,889.50
B-5 0.00 0.00 6,474.38 0.00 1,148,263.73
B-6 0.00 0.00 1,941.88 0.00 344,402.30
B-7 0.00 0.00 2,589.17 0.00 459,202.74
B-8 0.00 0.00 4,531.08 0.00 803,609.83
PO1 0.00 0.00 0.00 0.00 262,213.16
X-1 0.00 0.00 150,037.57 0.00 143,191,958.62
X-2 0.00 0.00 74,912.24 0.00 70,809,809.48
R 0.00 0.00 0.56 0.00 0.00
Totals 0.00 0.00 1,517,615.01 0.00
<FN>
(4) 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>
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% 1000.00000000 5.62500000 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% 1000.00000000 5.62500007 0.00000000 0.00000000
B-1 5,752,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
B-2 3,451,000.00 6.75000% 1000.00000000 5.62500145 0.00000000 0.00000000
B-3 2,301,000.00 6.75000% 1000.00000000 5.62499783 0.00000000 0.00000000
B-4 2,991,000.00 6.75000% 1000.00000000 5.62500167 0.00000000 0.00000000
B-5 1,151,000.00 6.75000% 1000.00000000 5.62500434 0.00000000 0.00000000
B-6 345,223.00 6.75000% 1000.00000000 5.62500181 0.00000000 0.00000000
B-7 460,297.00 6.75000% 1000.00000000 5.62499864 0.00000000 0.00000000
B-8 805,524.80 6.75000% 1000.00000000 5.62500372 0.00000000 0.00000000
PO1 275,457.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
X-1 0.00 1.20339% 980.96830926 0.98373883 0.00000000 0.00000000
X-2 0.00 1.21076% 959.80854666 0.96841796 0.00000000 0.00000000
R 100.00 6.75000% 1000.00000000 5.60000000 0.00000000 0.00000000
<FN>
(5) Per $1000 Denomination
</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 5.62500000 0.00000000 926.56468224
A-2 0.00000000 0.00000000 5.62499971 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 5.62500007 0.00000000 950.73298846
B-1 0.00000000 0.00000000 5.62500000 0.00000000 997.62270167
B-2 0.00000000 0.00000000 5.62500145 0.00000000 997.62270067
B-3 0.00000000 0.00000000 5.62499783 0.00000000 997.62269883
B-4 0.00000000 0.00000000 5.62500167 0.00000000 997.62270144
B-5 0.00000000 0.00000000 5.62500434 0.00000000 997.62270200
B-6 0.00000000 0.00000000 5.62500181 0.00000000 997.62269605
B-7 0.00000000 0.00000000 5.62499864 0.00000000 997.62270882
B-8 0.00000000 0.00000000 5.62500372 0.00000000 997.62270510
PO1 0.00000000 0.00000000 0.00000000 0.00000000 951.92048124
X-1 0.00000000 0.00000000 0.98303096 0.00000000 938.17921189
X-2 0.00000000 0.00000000 0.96717001 0.00000000 914.20472970
R 0.00000000 0.00000000 5.60000000 0.00000000 0.00000000
<FN>
(6) 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>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notational Notational Component Component Component
Class Rate Balance Balance Balance Balance
<S> <C> <C> <C> <C> <C> <C>
SEQ 0.00000% 0.00 0.00 18,195.30 18,195.30 100.00000000%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 11,968,118.41
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 11,968,118.41
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 47,933.88
Payment of Interest and Principal 11,920,184.53
Total Withdrawals (Pool Distribution Amount) 11,968,118.41
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 47,933.88
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 47,933.88
</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 0 0.00 0.000000% 0.000000%
60 Days 0 0.00 0.000000% 0.000000%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 0 0.00 0.000000% 0.000000%
</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 0.06266614%
Fraud 4,601,652.03 2.00000000% 4,601,652.03 2.09470655%
Special Hazard 3,036,384.00 1.31969300% 3,036,384.00 1.38218479%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
Collateral Description Mixed Fixed Ratio Strip
<S> <C>
Weighted Average Gross Coupon 0.000000%
Weighted Average Net Coupon 0.000000%
Weighted Average Pass-Through Rate 0.000000%
Weighted Average Maturity (Stepdown Calculation) 0
Beginning Scheduled Collateral Loan Count 1,205
Number of Loans Paid in Full 0
Ending Scheduled Collateral Loan Count 0
Beginning Scheduled Collateral Balance 230,082,601.80
Ending Scheduled Collateral Balance 219,680,032.28
Ending Actual Collateral Balance at 31-Mar-1998 0.00
Monthly P&I Constant 0.00
Class AP Deferred Amount ($18,195.71)
Unpaid Principal Balance of Outstanding Mortgage
Loans with Original LTV:
Less than or equal to 80% 0.00
Greater than 80%, less than or equal to 85% 0.00
Greater than 85%, less than or equal to 95% 0.00
Greater than 95% 0.00
</TABLE>