RESIDENTIAL FUNDING MORTGAGE SECURITIES I INC
8-K, 1999-05-12
ASSET-BACKED SECURITIES
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                      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  29,  1999
Residential  Funding Mortgage Securities I, Inc. (as company under a Pooling and
Servicing  Agreement  dated as of April 1, 1999  providing  for, inter alia, the
issuance of Mortgage Pass-Through Certificates, Series 1999-S9)


               Residential Funding Mortgage Securities I, Inc.

            (Exact name of registrant as specified in its charter)

 DELAWARE                          333-57481                 75-2006294

(State or other jurisdiction     (Commission               (I.R.S. employer
of incorporation)                  file number)             identification no.)


          8400 Normandale Lake Blvd., Suite 600, Minneapolis, MN 55437

               (Address of principal executive offices) (Zip code)

       Registrant's telephone number, including area code: (612) 832-7000
                  _____________________________________________
          (Former name or former address, if changed since last report)


                       Exhibit Index Located on Page 2

<PAGE>





Items 1 through 6 and Item 8 are not included because they are not applicable.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.
            (a)   Not applicable
            (b)   Not applicable
            (c)   Exhibits (executed copies):  The following execution copies of
                  Exhibits  to  the  Form  S-3  Registration  Statement  of  the
                  Registrant are hereby filed:


                                                                  Sequentially
                                                                      Numbered
Exhibit                                                                Exhibit
Number                                                                    Page

10.1        Pooling and Servicing Agreement, dated as of April 1, 1999 among
            Residential Funding Mortgage Securities I, Inc., as company,
            Residential Funding Corporation, as master servicer, and Bankers
            Trust Company, as trustee.

                                             2

<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.


                                    RESIDENTIAL FUNDING MORTGAGE
                                    SECURITIES I, INC.

                                    By:   /s/ Stephen Hynes 
                                    Name: Stephen Hynes
                                    Title:Vice President

Dated:  April 29, 1999



                                   3

<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.


                                    RESIDENTIAL FUNDING MORTGAGE
                                    SECURITIES I, INC.

                                    By:
                                    Name: Stephen Hynes
                                    Title: Vice President

Dated:  April 29, 1999

                                     4

<PAGE>





                                 Exhibit 10.1


                       Pooling and Servicing Agreement

                                                               


               RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.,


                                   Company,


                       RESIDENTIAL FUNDING CORPORATION,


                               Master Servicer,


                                     and


                            BANKERS TRUST COMPANY,


                                   Trustee




                       POOLING AND SERVICING AGREEMENT


                          Dated as of April 1, 1999



                      Mortgage Pass-Through Certificates


                                Series 1999-S9



















<PAGE>


                               TABLE OF CONTENTS

                                                                    Page



ARTICLE I      .DEFINITIONS .................................................2

      SECTION 1.01  Definitions..............................................2

Accrued Certificate Interest.................................................2

Addendum and Assignment Agreement............................................3

Additional Collateral........................................................3

Additional Collateral Loan...................................................3

Adjusted Mortgage Rate.......................................................3

Advance        ..............................................................3

Affiliate      ............................................................. 3

Agreement      ............................................................. 3

Amount Held for Future Distribution..........................................3

Appraised Value............................................................. 4

Assignment     ............................................................. 4

Assignment Agreement.........................................................4

Assignment of Proprietary Lease..............................................4

Available Distribution Amount................................................4

Bankruptcy Amount............................................................4

Bankruptcy Code............................................................. 5

Bankruptcy Loss............................................................. 5

Book-Entry Certificate.......................................................5

Business Day   ............................................................. 6

Buydown Funds  ............................................................. 6

Buydown Mortgage Loan........................................................6

Cash Liquidation............................................................ 6

Certificate    ............................................................. 6

Certificate Account..........................................................6

Certificate Account Deposit Date.............................................6

Certificateholder or Holder..................................................6

Certificate Owner........................................................... 6

                       -1-















<PAGE>


                               TABLE OF CONTENTS


                                  (continued)


                                                                        Page


Certificate Principal Balance................................................7

Certificate Register and Certificate Registrar...............................7

Class          ............................................................. 7

Class A Certificate..........................................................7

Class A-6 Notional Amount....................................................8

Class A-P Collection Shortfall...............................................8

Class A-P Principal Distribution Amount......................................8

Class A-V Certificates.......................................................8

Class A-V Notional Amount....................................................8

Class A-V Subclass Notional Amount...........................................8

Class B Certificate..........................................................8

Class B Percentage...........................................................8

Class B-1 Percentage.........................................................8

Class B-1 Prepayment Distribution Trigger....................................8

Class B-2 Percentage.........................................................8

Class B-2 Prepayment Distribution Trigger....................................9

Class B-3 Percentage.........................................................9

Class B-3 Prepayment Distribution Trigger....................................9

Class M Certificate..........................................................9

Class M Percentage...........................................................9

Class M-1 Percentage........................................................ 9

Class M-2 Percentage........................................................ 9

Class M-2 Prepayment Distribution Trigger................................... 9

Class M-3 Percentage........................................................10

Class M-3 Prepayment Distribution Trigger...................................10

Class R Certificate.........................................................10

Class R-I Certificate.......................................................10

Class R-II Certificate......................................................10

                       -2-















<PAGE>


                               TABLE OF CONTENTS


                                  (continued)



                                                                            Page

Closing Date   ............................................................ 10

Code           ............................................................ 10

Compensating Interest.......................................................10

Cooperative    ............................................................ 10

Cooperative Apartment.......................................................11

Cooperative Lease.......................................................... 11

Cooperative Loans...........................................................11

Cooperative Stock.......................................................... 11

Cooperative Stock Certificate...............................................11

Corporate Trust Office......................................................11

Credit Support Depletion Date...............................................11

Curtailment    ............................................................ 11

Custodial Account...........................................................11

Custodial Agreement.........................................................11

Custodian      ............................................................ 11

Cut-off Date   ............................................................ 11

Cut-off Date Principal Balance..............................................11

DCR            ............................................................ 12

Debt Service Reduction......................................................12

Deficient Valuation.........................................................12

Definitive Certificate......................................................12

Deleted Mortgage Loan.......................................................12

Delinquent     ............................................................ 12

Depository     ............................................................ 12

Depository Participant......................................................12

Destroyed Mortgage Note.....................................................12

Determination Date..........................................................12

Discount Fraction.......................................................... 13

                       -3-















<PAGE>


                               TABLE OF CONTENTS



                                  (continued)
                                                                            Page

Discount Mortgage Loan......................................................13

Disqualified Organization...................................................13

Distribution Date.......................................................... 13

Due Date       ............................................................ 13

Due Period     ............................................................ 13

Eligible Account........................................................... 13

Eligible Funds ............................................................ 14

Event of Default........................................................... 14

Excess Bankruptcy Loss......................................................14

Excess Fraud Loss.......................................................... 14

Excess Special Hazard Loss..................................................14

Excess Subordinate Principal Amount.........................................14

Extraordinary Events........................................................14

Extraordinary Losses........................................................15

FASIT          ............................................................ 15

FDIC           ............................................................ 15

FHLMC          .............................................................15

Final Distribution Date.....................................................15

Fitch IBCA     ............................................................ 15

FNMA           ............................................................ 15

Foreclosure Profits.........................................................16

Fraud Loss Amount...........................................................16

Fraud Losses   ............................................................ 16

Independent    ............................................................ 16

Initial Certificate Principal Balance.......................................16

Initial Class A-6 Notional Amount...........................................16

Initial Class A-V Notional Amount...........................................17

Initial Monthly Payment Fund................................................17

                       -4-















<PAGE>


                               TABLE OF CONTENTS

                             (continued)

                                                                           Page


Initial Notional Amount.....................................................17

Insurance Proceeds..........................................................17

Insurer        ............................................................ 17

Interest Accrual Period.....................................................17

Junior Certificateholder....................................................17

Junior Class of Certificates................................................17

Late Collections........................................................... 17

Liquidation Proceeds........................................................17

Loan-To-Value Ratio.........................................................17

Lockout Prepayment Percentage...............................................17

Lockout Scheduled Percentage................................................18

Maturity Date  ............................................................ 18

MLCC           ............................................................ 18

Modified Mortgage Loan......................................................18

Modified Net Mortgage Rate..................................................18

Monthly Payment............................................................ 18

Moody's        ............................................................ 18

Mortgage       ............................................................ 18

Mortgage 100SM Loan.........................................................18

Mortgage File  ............................................................ 18

Mortgage Loan Schedule......................................................19

Mortgage Loans ............................................................ 19

Mortgage Note  ............................................................ 20

Mortgage Rate  ............................................................ 20

Mortgaged Property..........................................................20

Mortgagor      ............................................................ 20

Net Mortgage Rate...........................................................20

Non-Discount Mortgage Loan..................................................20

                       -5-









<PAGE>


                               TABLE OF CONTENTS

                               (continued)

                                                                           Page


Non-Primary Residence Loans.................................................20

Non-United States Person....................................................20

Nonrecoverable Advance......................................................20

Nonsubserviced Mortgage Loan................................................20

Notional Amount............................................................ 20

Officers' Certificate.......................................................20

Opinion of Counsel..........................................................20

Original Senior Percentage..................................................20

Outstanding Mortgage Loan...................................................21

Ownership Interest..........................................................21

Parent PowerSM Loan.........................................................21

Pass-Through Rate...........................................................21

Paying Agent   ............................................................ 21

Percentage Interest.........................................................21
Permitted Investments.......................................................22

Permitted Transferee........................................................22

Person         ............................................................ 23

Pledged Asset Mortgage Servicing Agreement..................................23

Pool Stated Principal Balance...............................................23

Pool Strip Rate.................................................. ..........23

Prepayment Assumption.......................................................23

Prepayment Distribution Percentage..........................................23

Prepayment Distribution Trigger.............................................25

Prepayment Interest Shortfall...............................................25

Prepayment Period...........................................................25

Primary Insurance Policy....................................................25

Principal Prepayment........................................................25

Principal Prepayment In Full................................................25

                       -6-








<PAGE>


                               TABLE OF CONTENTS

                                  (continued)

                                                                          Page




Program Guide  ............................................................ 25

Purchase Price ............................................................ 25

Qualified Substitute Mortgage Loan..........................................26

Rating Agency  ............................................................ 26

Realized Loss  ............................................................ 26

Record Date    ............................................................ 27

Regular Certificate.........................................................27

REMIC          ............................................................ 27

REMIC Administrator.........................................................27

REMIC I        ............................................................ 27

REMIC I Certificates........................................................28

REMIC II       ............................................................ 28

REMIC II Certificates.......................................................28

REMIC Provisions............................................................28

REO Acquisition............................................................ 28

REO Disposition............................................................ 28

REO Imputed Interest........................................................28

REO Proceeds   ............................................................ 28

REO Property   ............................................................ 28

Request for Release.........................................................29

Required Insurance Policy...................................................29

Required Surety Payment.....................................................29

Residential Funding.........................................................29

Responsible Officer.........................................................29

Schedule of Discount Fractions..............................................29

Security Agreement..........................................................29

Seller         ............................................................ 29

Seller's Agreement..........................................................29

                       -7-















<PAGE>


                               TABLE OF CONTENTS


                                  (continued)

                                                                            Page


Senior Accelerated Distribution Percentage..................................30

Senior Certificate......................................................... 30

Senior Percentage.......................................................... 30

Senior Principal Distribution Amount........................................31

Servicing Accounts..........................................................31

Servicing Advances..........................................................31

Servicing Fee  ............................................................ 31

Servicing Modification......................................................31

Servicing Officer.......................................................... 31

Special Hazard Amount.......................................................31

Special Hazard Loss.........................................................32

Standard & Poor's.......................................................... 32

Stated Principal Balance....................................................32

Subclass       ............................................................ 33
Subordinate Percentage......................................................33

Subordinate Principal Distribution Amount...................................33

Subserviced Mortgage Loan...................................................33

Subservicer    ............................................................ 33

Subservicer Advance.........................................................33

Subservicing Account........................................................33

Subservicing Agreement......................................................33

Subservicing Fee........................................................... 34

Surety         ............................................................ 34

Surety Bond    ............................................................ 34

Tax Returns    ............................................................ 34

Transfer       ............................................................ 34

Transferee     ............................................................ 34

Transferor     ............................................................ 34

                       -8-















<PAGE>


                               TABLE OF CONTENTS

                                  (continued)


                                                                          Page


Trust Fund     ............................................................ 34

Uncertificated Accrued Interest.............................................35

Uncertificated Pass-Through Rate............................................35

Uncertificated Principal Balance............................................35

Uncertificated REMIC I Regular Interest W...................................35

Uncertificated REMIC I Regular Interest X...................................35

Uncertificated REMIC I Regular Interest Y...................................35

Uncertificated REMIC I Regular Interests Z..................................36

Uncertificated REMIC I Regular Interests....................................36

Uncertificated REMIC I Regular Interest W Distribution Amount...............36

Uncertificated REMIC I Regular Interest X Distribution Amount...............36

Uncertificated REMIC I Regular Interest Y Distribution Amount...............36

Uncertificated REMIC I Regular Interests Z Distribution Amount..............36

Uncertificated REMIC I Regular Interest Distribution Amounts................36

Uncertificated REMIC II Regular Interests...................................36

Uncertificated REMIC II Regular Interests Distribution Amount...............36

Uniform Single Attestation Program For Mortgage Bankers.....................36

Uninsured Cause............................................................ 36

United States Person........................................................37

Voting Rights  ............................................................ 37

ARTICLE II  CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES 39

      SECTION 2.01  Conveyance of Mortgage Loans............................37

      SECTION 2.02.  Acceptance by Trustee..................................42

      SECTION 2.03.  Representations, Warranties and Covenants of the Master 
                     Servicer and the Company ..............................43

      SECTION 2.04.  Representations and Warranties of Sellers..............47

      SECTION 2.05.  Issuance of Certificates Evidencing Interests in REMIC I
            Certificates....................................................49

      SECTION 2.06  Conveyance of Uncertificated REMIC I and REMIC II

                       -9-






<PAGE>


                               TABLE OF CONTENTS

                                  (continued)


                                                                          Page




            Regular Interests; Acceptance by the Trustee ...................50

      SECTION 2.07.Issuance of Certificates Evidencing Interest in REMIC II.50

ARTICLE III    ADMINISTRATION AND SERVICING OF MORTGAGE LOANS ..............50

      SECTION 3.01.  Master Servicer to Act as Servicer.....................50

      SECTION 3.02.  Subservicing Agreements Between Master Servicer and
               Subservicers; Enforcement of Subservicers' and Sellers' 
               Obligations .................................................52

      SECTION 3.03.  Successor Subservicers.................................53

      SECTION 3.04.  Liability of the Master Servicer.......................53

      SECTION 3.05.  No Contractual Relationship Between Subservicer and Trustee
                    or Certificateholders ..................................53

      SECTION 3.06.  Assumption or Termination of Subservicing Agreements by
            Trustee.........................................................54

      SECTION 3.07  Collection of Certain Mortgage Loan Payments; Deposits to
                    Custodial Account ......................................54

      SECTION 3.08  Subservicing Accounts; Servicing Accounts...............56

      SECTION 3.09.  Access to Certain Documentation and Information Regarding 
                    the Mortgage Loans .....................................58

      SECTION 3.10.  Permitted Withdrawals from the Custodial Account.......58

      SECTION 3.11.  Maintenance of the Primary Insurance Policies; Collections 
                    Thereunder .............................................60

      SECTION 3.12.  Maintenance of Fire Insurance and Omissions and Fidelity
            Coverage........................................................61

      SECTION 3.13.  Enforcement of Due-on-Sale Clauses; Assumption and 
                    Modification Agreements; Certain Assignments............62

      SECTION 3.14.  Realization Upon Defaulted Mortgage Loans..............64

      SECTION 3.15.  Trustee to Cooperate; Release of Mortgage Files........67

      SECTION 3.16.  Servicing and Other Compensation; Compensating Interest69

      SECTION 3.17.  Reports to the Trustee and the Company.................70

      SECTION 3.18.  Annual Statement as to Compliance......................70

      SECTION 3.19.  Annual Independent Public Accountants' Servicing Report70

      SECTION 3.20.  Rights of the Company in Respect of the Master Servicer71

                       -10-















<PAGE>


                               TABLE OF CONTENTS


                                  (continued)


                                                                         Page

      SECTION 3.21.  Administration of Buydown Funds........................71

ARTICLE IV     PAYMENTS TO CERTIFICATEHOLDERS ..............................72

      SECTION 4.01.  Certificate Account....................................72

      SECTION 4.02.  Distributions..........................................72

      SECTION 4.03.  Statements to Certificateholders.......................83

      SECTION 4.04.  Distribution of Reports to the Trustee and the Company;

            Advances by the Master Servicer ................................85

      SECTION 4.05.  Allocation of Realized Losses..........................86

      SECTION 4.06.  Reports of Foreclosures and Abandonment of Mortgaged
            Property........................................................87

      SECTION 4.07.  Optional Purchase of Defaulted Mortgage Loans..........88

      SECTION 4.08.  Surety Bond............................................88

      SECTION 4.09.  Distributions on the Uncertificated REMIC I and REMIC II 
                    Regular Interests ..................................... 89

ARTICLE V      THE CERTIFICATES ............................................91

      SECTION 5.01.  The Certificates.......................................91

      SECTION 5.02.  Registration of Transfer and Exchange of Certificates..93

      SECTION 5.03.  Mutilated, Destroyed, Lost or Stolen Certificates..... 99

      SECTION 5.04.  Persons Deemed Owners................................. 99

      SECTION 5.05.  Appointment of Paying Agent........................... 99

      SECTION 5.06.  Optional Purchase of Certificates.....................107

ARTICLE VI    THE COMPANY AND THE MASTER SERVICER .........................101

      SECTION 6.01.  Respective Liabilities of the Company and the Master 
                    Servicer ..............................................101

      SECTION 6.02  Merger or Consolidation of the Company or the Master 
                    Servicer; Assignment of Rights and Delegation of Duties 
                    by Master Servicer ....................................101

      SECTION 6.03  Limitation on Liability of the Company, the Master Servicer
                    and Others ............................................103

      SECTION 6.04.  Company and Master Servicer Not to Resign.............103

ARTICLE VII    DEFAULT ....................................................103

                       -11-








<PAGE>


                               TABLE OF CONTENTS

                                  (continued)


                                                                          Page




      SECTION 7.01  Events of Default......................................105

      SECTION 7.02.  Trustee or Company to Act; Appointment of Successor...105

      SECTION 7.03.  Notification to Certificateholders....................106

      SECTION 7.04.  Waiver of Events of Default...........................106

ARTICLE VIII  CONCERNING THE TRUSTEE ......................................107

      SECTION 8.01.  Duties of Trustee.....................................107

      SECTION 8.02.  Certain Matters Affecting the Trustee.................109

      SECTION 8.03.  Trustee Not Liable for Certificates or Mortgage Loans.110

      SECTION 8.04.  Trustee May Own Certificates..........................110

      SECTION 8.05.  Master Servicer to Pay Trustee's Fees and Expenses;
            Indemnification................................................110

      SECTION 8.06.  Eligibility Requirements for Trustee..................111

      SECTION 8.07.  Resignation and Removal of the Trustee................112

      SECTION 8.08.  Successor Trustee.....................................113

      SECTION 8.09.  Merger or Consolidation of Trustee....................113

      SECTION 8.10.  Appointment of Co-Trustee or Separate Trustee.........113

      SECTION 8.11.  Appointment of Custodians.............................114

      SECTION 8.12.  Appointment of Office or Agency.......................115

ARTICLE IX     TERMINATION ................................................115

      SECTION 9.01.  Termination Upon Purchase by the Master Servicer or the 
               Company or Liquidation of All Mortgage Loans................115

      SECTION 9.02.   Termination of REMIC II..............................117

      SECTION 9.03.  Additional Termination Requirements...................118

ARTICLE X      REMIC PROVISIONS ...........................................118

      SECTION 10.01.  REMIC Administration.................................118

      SECTION 10.02.  Master Servicer, REMIC Administrator and Trustee
            Indemnification................................................122

ARTICLE XI     MISCELLANEOUS PROVISIONS ...................................123

      SECTION 11.01.  Amendment............................................123

                       -12-








<PAGE>


                               TABLE OF CONTENTS


                                  (continued)

                                                                         Page




      SECTION 11.02.  Recordation of Agreement; Counterparts...............126

      SECTION 11.03.  Limitation on Rights of Certificateholders...........126

      SECTION 11.04.  Governing Law........................................127

      SECTION 11.05.  Notices..............................................127

      SECTION 11.06.  Notices to Rating Agency.............................127

      SECTION 11.07.  Severability of Provisions...........................128

      SECTION 11.08.  Supplemental Provisions for Resecuritization.........128




                       -13-








<PAGE>

      EXHIBITS
Exhibit A: Form of Class A Certificate
Exhibit B: Form of Class M Certificate
Exhibit C: Form of Class B Certificate
Exhibit D: Form of Class R Certificate
Exhibit E: Form of Custodial Agreement
Exhibit F: Mortgage Loan Schedule
Exhibit G: Form of Seller/Servicer Contract
Exhibit H: Forms of Request for Release
Exhibit I-1: Form of Transfer Affidavit and Agreement
Exhibit I-2: Form of Transferor Certificate
Exhibit J-1: Form of Investor Representation Letter
Exhibit J-2: Form of ERISA Representation Letter
Exhibit J-3: Form of ERISA Legend
Exhibit K: Form of Transferor Representation Letter
Exhibit L: Form of Rule 144A Investment Representation Letter
Exhibit M:  Text of Amendment to Pooling and Servicing Agreement 
               Pursuant to Section 11.01(e) for a Limited Guaranty
Exhibit N: Form of Limited Guaranty
Exhibit O: Form of Lender Certification for Assignment of Mortgage Loan
Exhibit P: Schedule of Discount Fractions
Exhibit Q: Form of Request for Exchange






<PAGE>






            This is a  Pooling  and  Servicing  Agreement,  dated as of April 1,
1999,  among  RESIDENTIAL  FUNDING  MORTGAGE  SECURITIES I, INC., as the company
(together with its permitted successors and assigns, the "Company"), RESIDENTIAL
FUNDING CORPORATION,  as master servicer (together with its permitted successors
and assigns,  the "Master  Servicer"),  and BANKERS  TRUST  COMPANY,  a New York
banking  corporation,  as Trustee  (together  with its permitted  successors and
assigns, the "Trustee").


                            PRELIMINARY STATEMENT

            The  Company  intends  to sell  mortgage  pass-through  certificates
(collectively, the "Certificates"),  to be issued hereunder in multiple classes,
which in the aggregate will evidence the entire beneficial ownership interest in
the  Mortgage  Loans  (as  defined  herein).   As  provided  herein,  the  REMIC
Administrator  will make an  election  to treat the  entire  segregated  pool of
assets described in the definition of REMIC I (as defined  herein),  and subject
to this  Agreement  (including  the  Mortgage  Loans but  excluding  the Initial
Monthly Payment Fund), as a real estate mortgage  investment conduit (a "REMIC")
for  federal  income tax  purposes  and such  segregated  pool of assets will be
designated as "REMIC I." The  Uncertificated  REMIC I Regular  Interests will be
"regular  interests" in REMIC I and the Class R-I Certificates  will be the sole
class of "residual  interests"  in REMIC I for purposes of the REMIC  Provisions
(as defined  herein)  under the  federal  income tax law. A  segregated  pool of
assets  consisting  of the  Uncertificated  REMIC I  Regular  Interests  will be
designated  as "REMIC II," and the Master  Servicer  will make a separate  REMIC
election with respect  thereto.  The Class A-1, Class A-2, Class A-3, Class A-4,
Class A-5,  Class A-6,  Class A-7,  Class A-8,  Class A-P, Class M-1, Class M-2,
Class  M-3,   Class  B-1,  Class  B-2  and  Class  B-3   Certificates   and  the
Uncertificated REMIC II Regular Interests (as defined herein), the rights in and
to which will be  represented  by the Class A-V  Certificates,  will be "regular
interests" in REMIC II, and the Class R-II  Certificates  will be the sole class
of "residual interests" therein for purposes of the REMIC Provisions (as defined
herein) under federal income tax law.

            The following table sets forth the designation,  type,  Pass-Through
Rate,  aggregate Initial Certificate  Principal Balance,  Maturity Date, initial
ratings and  certain  features  for each Class of  Certificates  comprising  the
interests in the Trust Fund created hereunder.

<TABLE>
<CAPTION>

Designation   Pass-ThrougAggregate Initial      Features         Maturity   Standard   Fitch
                Rate       Certificate                             Date     & Poor's    IBCA
                            Principal
                             Balance

<S>           <C>        <C>                <C>                  <C>             <C>      <C>         
Class A-1       6.75%    $   198,895,000.00        Senior        April 25, 2029  AAA      AAA
Class A-2       6.75%    $    15,932,000.00        Senior        April 25, 2029  AAA      AAA
Class A-3       6.75%    $   204,422,000.00       Senior         April 25, 2029  AAA      AAA
Class A-4       6.50%    $    50,977,000.00    Lockout/Senior    April 25, 2029  AAA      AAA
Class A-5       6.75%    $    24,375,000.00        Senior        April 25, 2029  AAA      AAA
Class A-6       6.75%    $             0.00  Interest Only/SeniorApril 25, 2029  AAAr     AAA
Class A-7       6.75%    $     1,317,000.00    Retail/Senior     April 25, 2029  AAA      AAA
Class A-8       6.75%    $     3,856,000.00    Retail/Senior     April 25, 2029  AAA      AAA
Class A-P       0.00%    $     4,961,920.30  PrincipalOnly/SeniorApril 25, 2029  AAAr     AAA

Class A-V     Variable   $                   Variable Strip/     April 25, 2029  AAAr     AAA
                Rate                        Interst Only/Senior
Class R-I       6.75%    $           100.00   Residual/Senior    April 25, 2029  AAA      AAA
Class R-II      6.75%    $           100.00   Residual/Senior    April 25, 2029  AAA      AAA
Class M-1       6.75%    $    11,041,100.00      Mezzanine       April 25, 2029  N/A      AA








<PAGE>






Class M-2       6.75%    $     3,943,300.00      Mezzanine       April 25, 2029  N/A       A

Class M-3       6.75%    $     2,366,000.00      Mezzanine       April 25, 2029  N/A      BBB

Class B-1       6.75%    $     1,577,300.00     Subordinate      April 25, 2029  N/A      BB
Class B-2       6.75%    $     1,051,600.00     Subordinate      April 25, 2029  N/A       B
Class B-3       6.75%    $     1,050,377.58     Subordinate      April 25, 2029  N/A      N/A

</TABLE>

            The Mortgage Loans have an aggregate  Cut-off Date Principal Balance
equal to  $525,765,797.88.  The  Mortgage  Loans are fixed rate  mortgage  loans
having  terms to maturity at  origination  or  modification  of not more than 30
years.

            In  consideration of the mutual  agreements  herein  contained,  the
Company, the Master Servicer and the Trustee agree as follows:

ARTICLE I

                                 DEFINITIONS

     SECTION 1.01.   Definitions.

      Whenever used in this Agreement,  the following words and phrases,  unless
the  context  otherwise  requires,  shall have the  meanings  specified  in this
Article.

      Accrued Certificate  Interest:  With respect to each Distribution Date, as
to any Senior  Certificate  (other  than the Class A-6,  Class A-P and Class A-V
Certificates),  any Class M  Certificate  or any Class B  Certificate,  interest
accrued during the related Interest  Accrual Period at the related  Pass-Through
Rate on the  Certificate  Principal  Balance thereof  immediately  prior to such
Distribution  Date. With respect to each Distribution  Date, as to the Class A-6
Certificates  and Class A-V  Certificates  in the  aggregate,  interest  accrued
during the related Interest Accrual Period at the related  Pass-Through  Rate on
the related Notional Amount.  With respect to each Distribution  Date, as to any
Subclass of Class A-V Certificates, interest accrued during the related Interest
Accrual  Period at the  related  Pass-Through  Rate on the  Class  A-V  Subclass
Notional Amount thereof.  Accrued Certificate Interest will be calculated on the
basis of a 360-day  year,  consisting  of  twelve  30-day  months.  In each case
Accrued Certificate Interest on any Class of Certificates will be reduced by the
amount of (i)  Prepayment  Interest  Shortfalls (to the extent not offset by the
Master Servicer with a payment of  Compensating  Interest as provided in Section
4.01),  (ii) the interest  portion  (adjusted  to the Net Mortgage  Rate (or the
Modified Net Mortgage Rate in the case of a Modified Mortgage Loan)) of Realized
Losses  (including  Excess Special Hazard  Losses,  Excess Fraud Losses,  Excess
Bankruptcy Losses and Extraordinary  Losses) not allocated solely to one or more
specific  Classes of Certificates  pursuant to Section 4.05,  (iii) the interest
portion of  Advances  previously  made with  respect  to a Mortgage  Loan or REO
Property  which  remained  unreimbursed  following the Cash  Liquidation  or REO
Disposition of such Mortgage Loan or REO Property that were made with respect to
delinquencies  that  were  ultimately  determined  to be Excess  Special  Hazard
Losses,  Excess Fraud Losses,  Excess Bankruptcy Losses or Extraordinary  Losses
and (iv) any other interest shortfalls not covered by the subordination provided
by the Class M Certificates and Class B Certificates, including interest that is
not collectible from the Mortgagor  pursuant to the Soldiers' and Sailors' Civil
Relief Act of 1940, as amended,  or similar  legislation  or  regulations  as in
effect from time to time,  with all such  reductions  allocated among all of the
Certificates in proportion to their  respective  amounts of Accrued  Certificate
Interest payable on such Distribution Date which


                         2


<PAGE>





would have  resulted  absent  such  reductions.  Any  portion of the  reductions
described in the immediately  preceding sentence that are allocated to the Class
A-V  Certificates  shall be allocated among the Subclasses  thereof,  if any, in
proportion to their respective amounts of Accrued  Certificate  Interest payable
on such Distribution  Date which would have resulted absent such reductions.  In
addition to that portion of the  reductions  described  in the second  preceding
sentence that are allocated to any Class of Class B Certificates or any Class of
Class M  Certificates,  Accrued  Certificate  Interest  on such Class of Class B
Certificates  or such  Class  of Class M  Certificates  will be  reduced  by the
interest portion (adjusted to the Net Mortgage Rate) of Realized Losses that are
allocated  solely to such Class of Class B Certificates or such Class of Class M
Certificates pursuant to Section 4.05.

      Addendum and Assignment Agreement:  The Addendum and Assignment Agreement,
dated as of January 31, 1995, between MLCC and the Master Servicer.

      Additional  Collateral:  With  respect to any  Mortgage  100SM  Loan,  the
marketable  securities  held from time to time as security for the  repayment of
such Mortgage 100SM Loan and any related collateral.  With respect to any Parent
PowerSM Loan, the third-party  guarantee for such Parent PowerSM Loan,  together
with (i) any  marketable  securities  held from time to time as security for the
performance of such  guarantee and any related  collateral or (ii) any mortgaged
property  securing the  performance of such  guarantee,  the related home equity
line of credit loan and any related collateral.

     Additional  Collateral  Loan:  Each  Mortgage  Loan  that is  supported  by
Additional Collateral.

      Adjusted  Mortgage Rate: With respect to any Mortgage Loan and any date of
determination,  the Mortgage Rate borne by the related  Mortgage Note,  less the
rate at which the related Subservicing Fee accrues.

     Advance:  As to any Mortgage Loan, any advance made by the Master Servicer,
pursuant to Section 4.04.

      Affiliate:  With  respect to any  Person,  any other  Person  controlling,
controlled by or under common  control with such first Person.  For the purposes
of this  definition,  "control"  means the power to direct  the  management  and
policies of such Person,  directly or indirectly,  whether through the ownership
of voting securities,  by contract or otherwise; and the terms "controlling" and
"controlled" have meanings correlative to the foregoing.

     Agreement:  This Pooling and Servicing  Agreement and all amendments hereof
and supplements hereto.

      Amount Held for Future  Distribution:  As to any  Distribution  Date,  the
total of the amounts held in the  Custodial  Account at the close of business on
the  preceding  Determination  Date  on  account  of (i)  Liquidation  Proceeds,
Insurance Proceeds, Principal Prepayments, Mortgage Loan purchases made pursuant
to  Section  2.02,  2.03,  2.04 or 4.07 and  Mortgage  Loan  substitutions  made
pursuant  to  Section  2.03  or 2.04  received  or  made  in the  month  of such
Distribution Date (other than such Liquidation Proceeds,  Insurance Proceeds and
purchases of Mortgage Loans that the Master


                         3


<PAGE>





Servicer has deemed to have been received in the  preceding  month in accordance
with  Section  3.07(b))  and (ii)  payments  which  represent  early  receipt of
scheduled  payments of principal and interest due on a date or dates  subsequent
to the related Due Date.

      Appraised  Value:  As to any  Mortgaged  Property,  the  lesser of (i) the
appraised value of such Mortgaged  Property based upon the appraisal made at the
time of the  origination of the related  Mortgage Loan, and (ii) the sales price
of the Mortgaged  Property at such time of origination,  except in the case of a
Mortgaged  Property  securing a refinanced or modified Mortgage Loan as to which
it is  either  the  appraised  value  determined  above or the  appraised  value
determined in an appraisal at the time of  refinancing or  modification,  as the
case may be.

      Assignment:   An  assignment  of  the  Mortgage,  notice  of  transfer  or
equivalent  instrument,  in recordable  form,  sufficient  under the laws of the
jurisdiction  wherein  the related  Mortgaged  Property is located to reflect of
record  the  sale  of the  Mortgage  Loan to the  Trustee  for  the  benefit  of
Certificateholders,   which   assignment,   notice  of  transfer  or  equivalent
instrument  may be in the  form  of one or  more  blanket  assignments  covering
Mortgages  secured  by  Mortgaged  Properties  located  in the same  county,  if
permitted by law and accompanied by an Opinion of Counsel to that effect.

      Assignment Agreement: The Assignment and Assumption Agreement, dated April
29, 1999, between  Residential  Funding and the Company relating to the transfer
and assignment of the Mortgage Loans.

      Assignment of Proprietary  Lease:  With respect to a Cooperative Loan, the
assignment of the related Cooperative Lease from the Mortgagor to the originator
of the Cooperative Loan.

      Available  Distribution  Amount:  As to any  Distribution  Date, an amount
equal to (a) the sum of (i) the amount relating to the Mortgage Loans on deposit
in the  Custodial  Account  as of  the  close  of  business  on the  immediately
preceding  Determination  Date and amounts deposited in the Custodial Account in
connection with the substitution of Qualified  Substitute  Mortgage Loans,  (ii)
the amount of any Advance made on the immediately  preceding Certificate Account
Deposit Date, (iii) any amount deposited in the Certificate  Account pursuant to
Section 3.12(a),  (iv) any amount deposited in the Certificate  Account pursuant
to Section  4.07,  (v) any amount that the Master  Servicer is not  permitted to
withdraw  from the  Custodial  Account or the  Certificate  Account  pursuant to
Section  3.16(e),  and (vi) any amount  received by the Trustee  pursuant to the
Surety Bond in respect of such  Distribution  Date  reduced by (b) the sum as of
the close of business on the  immediately  preceding  Determination  Date of (w)
aggregate Foreclosure Profits, (x) the Amount Held for Future Distribution,  and
(y) amounts  permitted to be withdrawn by the Master Servicer from the Custodial
Account  in  respect  of  the  Mortgage  Loans  pursuant  to  clauses  (ii)-(x),
inclusive, of Section 3.10(a).

      Bankruptcy  Amount:  As of any date of  determination  prior to the  first
anniversary  of the Cut-off Date, an amount equal to the excess,  if any, of (A)
169,240 over (B) the aggregate  amount of Bankruptcy  Losses allocated solely to
one or more specific Classes of Certificates in accordance with Section 4.05. As
of any date of  determination  on or after the first  anniversary of the Cut-off
Date,  an  amount  equal to the  excess,  if any,  of (1) the  lesser of (a) the
Bankruptcy  Amount  calculated  as of the close of business on the  Business Day
immediately preceding the most recent anniversary of the Cut-off Date coinciding
with or preceding such date of determination (or, if such date of


                         4


<PAGE>





determination   is  an  anniversary  of  the  Cut-off  Date,  the  Business  Day
immediately  preceding  such  date  of  determination)  (for  purposes  of  this
definition, the "Relevant Anniversary") and (b) the greater of

            (A) the greater of (i) 0.0006 times the aggregate  principal balance
      of  all  the  Mortgage  Loans  in the  Mortgage  Pool  as of the  Relevant
      Anniversary   (other   than   Additional   Collateral   Loans)   having  a
      Loan-to-Value  Ratio at  origination  which exceeds 75% and (ii) $100,000;
      and (B) the  greater  of (i) the  product  of (x) an  amount  equal to the
      largest  difference  in the related  Monthly  Payment for any  Non-Primary
      Residence  Loan  remaining  in the  Mortgage  Pool (other than  Additional
      Collateral  Loans)  which had an original  Loan-to-Value  Ratio of greater
      than 80% that would result if the Net  Mortgage  Rate thereof was equal to
      the  greater  of  (I) 5% and  (II)  the  weighted  average  (based  on the
      principal balance of the Mortgage Loans as of the Relevant Anniversary) if
      the  Net  Mortgage  Rates  of  all  Mortgage  Loans  as  of  the  Relevant
      Anniversary  less  1.25% per  annum,  (y) a number  equal to the  weighted
      average  remaining  term  to  maturity,  in  months,  of  all  Non-Primary
      Residence Loans with a  Loan-to-Value  Ratio of greater than 80% remaining
      in the Mortgage Pool as of the Relevant Anniversary,  and (z) one plus the
      quotient  of  the  number  of  all  Non-Primary  Residence  Loans  with  a
      Loan-to-Value  Ratio of greater than 80%  remaining  in the Mortgage  Pool
      divided by the total number of Outstanding  Mortgage Loans in the Mortgage
      Pool as of the Relevant Anniversary, and (ii) $50,000,

over (2) the aggregate  amount of Bankruptcy  Losses  allocated solely to one or
more specific  Classes of Certificates in accordance with Section 4.05 since the
Relevant Anniversary.

      The  Bankruptcy  Amount  may be further  reduced  by the  Master  Servicer
(including  accelerating the manner in which such coverage is reduced)  provided
that prior to any such  reduction,  the Master Servicer shall (i) obtain written
confirmation  from each Rating Agency that such  reduction  shall not reduce the
rating  assigned to any Class of  Certificates  by such Rating  Agency below the
lower of the then-current  rating or the rating assigned to such Certificates as
of the  Closing  Date by such  Rating  Agency  and (ii)  provide  a copy of such
written confirmation to the Trustee.

      Bankruptcy Code:  The Bankruptcy Code of 1978, as amended.

      Bankruptcy Loss: With respect to any Mortgage Loan, a Deficient  Valuation
or Debt Service Reduction; provided, however, that neither a Deficient Valuation
nor a Debt Service Reduction shall be deemed a Bankruptcy Loss hereunder so long
as the Master  Servicer  has  notified  the  Trustee in writing  that the Master
Servicer is diligently  pursuing any remedies that may exist in connection  with
the  representations and warranties made regarding the related Mortgage Loan and
either (A) the related  Mortgage  Loan is not in default with regard to payments
due  thereunder or (B)  delinquent  payments of principal and interest under the
related  Mortgage  Loan  and  any  premiums  on any  applicable  primary  hazard
insurance  policy and any related  escrow  payments in respect of such  Mortgage
Loan  are  being  advanced  on a  current  basis  by the  Master  Servicer  or a
Subservicer, in either case without giving effect to any Debt Service Reduction.

     Book-Entry  Certificate:  Any  Certificate  registered  in the  name of the
Depository or its nominee.


                         5


<PAGE>





      Business  Day: Any day other than (i) a Saturday or a Sunday or (ii) a day
on which banking  institutions  in the State of New York, the State of Michigan,
the State of California or the State of Illinois (and such other state or states
in which  the  Custodial  Account  or the  Certificate  Account  are at the time
located) are required or authorized by law or executive order to be closed.

      Buydown  Funds:  Any  amount  contributed  by the  seller  of a  Mortgaged
Property, the Company or other source in order to enable the Mortgagor to reduce
the payments  required to be made from the Mortgagor's  funds in the early years
of a  Mortgage  Loan.  Buydown  Funds  are not part of the Trust  Fund  prior to
deposit into the Custodial or Certificate Account.

      Buydown Mortgage Loan: Any Mortgage Loan as to which a specified amount of
interest  is paid out of  related  Buydown  Funds in  accordance  with a related
buydown agreement.

      Cash Liquidation:  As to any defaulted Mortgage Loan other than a Mortgage
Loan as to which an REO  Acquisition  occurred,  a  determination  by the Master
Servicer that it has received all Insurance Proceeds,  Liquidation  Proceeds and
other payments or cash recoveries  which the Master  Servicer  reasonably and in
good faith expects to be finally recoverable with respect to such Mortgage Loan.

      Certificate:  Any Class A, Class M, Class B or Class R Certificate.

      Certificate   Account:  The  separate  account  or  accounts  created  and
maintained  pursuant to Section  4.01,  which shall be entitled  "Bankers  Trust
Company,  as trustee, in trust for the registered holders of Residential Funding
Mortgage Securities I, Inc., Mortgage Pass-Through Certificates, Series 1999-S9"
and which must be an Eligible Account.

     Certificate Account Deposit Date: As to any Distribution Date, the Business
Day prior thereto.

      Certificateholder  or Holder:  The Person in whose name a  Certificate  is
registered  in the  Certificate  Register,  except that  neither a  Disqualified
Organization  nor a  Non-United  States  Person  shall be a holder  of a Class R
Certificate  for  purposes  hereof  and,  solely  for the  purpose of giving any
consent or direction pursuant to this Agreement,  any Certificate,  other than a
Class R Certificate,  registered in the name of the Company, the Master Servicer
or  any  Subservicer  or  any  Affiliate  thereof  shall  be  deemed  not  to be
outstanding and the Percentage Interest or Voting Rights evidenced thereby shall
not be taken  into  account  in  determining  whether  the  requisite  amount of
Percentage  Interests or Voting  Rights  necessary to effect any such consent or
direction   has  been   obtained.   All   references   herein  to  "Holders"  or
"Certificateholders"  shall reflect the rights of Certificate Owners as they may
indirectly exercise such rights through the Depository and participating members
thereof,  except as otherwise  specified  herein;  provided,  however,  that the
Trustee shall be required to recognize as a "Holder" or "Certificateholder" only
the  Person  in  whose  name a  Certificate  is  registered  in the  Certificate
Register.

      Certificate  Owner: With respect to a Book-Entry  Certificate,  the Person
who is the beneficial owner of such Certificate, as reflected on the books of an
indirect participating brokerage firm for which a Depository Participant acts as
agent, if any, and otherwise on the books of a Depository  Participant,  if any,
and otherwise on the books of the Depository.


                         6


<PAGE>





      Certificate  Principal  Balance:  With respect to each Senior  Certificate
(other than any Class A-6 Certificate or Class A-V Certificate),  on any date of
determination,  an amount equal to (i) the Initial Certificate Principal Balance
of such Certificate as specified on the face thereof,  minus (ii) the sum of (x)
the  aggregate  of all  amounts  previously  distributed  with  respect  to such
Certificate  (or  any  predecessor   Certificate)  and  applied  to  reduce  the
Certificate  Principal  Balance thereof  pursuant to Section 4.02(a) and (y) the
aggregate of all  reductions in  Certificate  Principal  Balance  deemed to have
occurred in connection with Realized  Losses which were previously  allocated to
such Certificate (or any predecessor Certificate) pursuant to Section 4.05. With
respect to each Class M  Certificate,  on any date of  determination,  an amount
equal  to (i)  the  Initial  Certificate  Principal  Balance  of  such  Class  M
Certificate  as  specified  on the face  thereof,  minus (ii) the sum of (x) the
aggregate of all amounts previously distributed with respect to such Certificate
(or any predecessor Certificate) and applied to reduce the Certificate Principal
Balance  thereof  pursuant  to  Section  4.02(a)  and (y) the  aggregate  of all
reductions  in  Certificate   Principal  Balance  deemed  to  have  occurred  in
connection  with  Realized  Losses  which  were  previously  allocated  to  such
Certificate (or any predecessor Certificate) pursuant to Section 4.05; provided,
that if the Certificate Principal Balances of the Class B Certificates have been
reduced to zero, the Certificate  Principal  Balance of each Class M Certificate
of those Class M Certificates outstanding with the highest numerical designation
at any given  time  shall  thereafter  be  calculated  to equal  the  Percentage
Interest evidenced by such Certificate times the excess, if any, of (A) the then
aggregate  Stated  Principal  Balance  of the  Mortgage  Loans over (B) the then
aggregate  Certificate  Principal  Balance of all other Classes of  Certificates
then  outstanding.  With  respect  to each Class B  Certificate,  on any date of
determination,  an amount equal to (i) the Initial Certificate Principal Balance
of such Clas B Certificate as specified on the face thereof,  minus (ii) the sum
of (x) the aggregate of all amounts previously  distributed with respect to such
Certificate  (or  any  predecessor   Certificate)  and  applied  to  reduce  the
Certificate  Principal  Balance thereof  pursuant to Section 4.02(a) and (y) the
aggregate of all  reductions in  Certificate  Principal  Balance  deemed to have
occurred in connection with Realized  Losses which were previously  allocated to
such  Certificate  (or any  predecessor  Certificate)  pursuant to Section 4.05;
provided,  that the Certificate Principal Balance of each Class B Certificate of
those Class B Certificates outstanding with the highest numerical designation at
any given time shall be calculated to equal the Percentage Interest evidenced by
such  Certificate  times the excess,  if any, of (A) the then  aggregate  Stated
Principal Balance of the Mortgage Loans over (B) the then aggregate  Certificate
Principal  Balance of all other Classes of Certificates  then  outstanding.  The
Class  A-6  Certificates  and Class A-V  Certificates  will have no  Certificate
Principal Balance.

     Certificate Register and Certificate Registrar: The register maintained and
the registrar appointed pursuant to Section 5.02.

      Class: Collectively, all of the Certificates bearing the same designation.
The initial Class A-V  Certificates  and any Subclass thereof issued pursuant to
Section 5.01(c) shall be a single Class for the purposes of this Agreement.

      Class A Certificate: Any one of the Class A-1, Class A-2, Class A-3, Class
A-4,  Class  A-5,  Class  A-6,  Class  A-7,  Class  A-8,  Class A-P or Class A-V
Certificates,  executed  by the  Trustee and  authenticated  by the  Certificate
Registrar  substantially  in the form  annexed  hereto as  Exhibit  A, each such
Certificate  (other  than the Class A-V  Certificates)  evidencing  an  interest
designated  as a  "regular  interest"  in REMIC  II for  purposes  of the  REMIC
Provisions.  The Class A-V  Certificates  will  represent the entire  beneficial
ownership interest in the Uncertificated REMIC II Regular


                         7


<PAGE>





Interests.  On and  after  the date of  issuance  of any  Subclass  of Class A-V
Certificates  pursuant to Section 5.01(c),  any such Subclass will represent the
Uncertificated  REMIC II Regular Interest or Interests  specified by the initial
Holder of the Class A-V Certificates pursuant to said Section.

      Class A-6 Notional Amount:  As of any  Distribution  Date, with respect to
the Class A-6 Certificates, an amount equal to the Certificate Principal Balance
of the Class A-4 Certificates immediately prior to such date, divided by 27.

      Class A-P Collection  Shortfall:  With respect to the Cash  Liquidation or
REO  Disposition  of a Discount  Mortgage Loan and any  Distribution  Date,  the
excess of the  amount  described  in  Section  4.02(b)(i)(C)(1)  over the amount
described in Section 4.02(b)(i)(C)(2).

     Class A-P Principal Distribution Amount: As defined in Section 4.02(b)(i).

     Class A-V  Certificates:  The Class A Certificates  designated as Class A-V
Certificates, including any Subclass thereof.

      Class A-V Notional Amount:  As of any  Distribution  Date, with respect to
the Class A-V  Certificates,  the  aggregate  Stated  Principal  Balance  of the
Mortgage Loans immediately prior to such Distribution Date.

      Class A-V Subclass  Notional  Amount:  As of any  Distribution  Date, with
respect to any  Subclass of Class A-V  Certificates  issued  pursuant to Section
5.01(c),   the  aggregate  Stated  Principal   Balance  of  the  Mortgage  Loans
corresponding to the  Uncertificated  REMIC II Regular Interests  represented by
such Subclass immediately prior to such date.

      Class B  Certificate:  Any one of the  Class B-1  Certificates,  Class B-2
Certificates or Class B-3 Certificates executed by the Trustee and authenticated
by the Certificate Registrar substantially in the form annexed hereto as Exhibit
C and evidencing an interest  designated as a "regular interest" in REMIC II for
purposes of the REMIC Provisions.

     Class B Percentage:  The Class B-1  Percentage,  Class B-2  Percentage  and
Class B-3 Percentage.

      Class B-1 Percentage:  With respect to any Distribution  Date, a fraction,
expressed as a percentage,  the numerator of which is the aggregate  Certificate
Principal  Balance of the Class B-1 Certificates  immediately prior to such date
and the denominator of which is the aggregate Stated Principal Balance of all of
the Mortgage Loans (or related REO  Properties)(other  than the related Discount
Fraction of each Discount  Mortgage Loan) immediately prior to such Distribution
Date.

      Class  B-1   Prepayment   Distribution   Trigger:   With  respect  to  any
Distribution Date, a test that shall be satisfied if the fraction  (expressed as
a  percentage)  equal to the sum of the  Certificate  Principal  Balances of the
Class B-1  Certificates,  Class  B-2  Certificates  and  Class B-3  Certificates
immediately  prior to such  Distribution  Date divided by the  aggregate  Stated
Principal  Balance of all of the  Mortgage  Loans (or  related  REO  Properties)
immediately prior to such Distribution Date is greater than or equal to 0.70%.

     Class B-2 Percentage:  With respect to any  Distribution  Date, a fraction,
expressed as a


                         8


<PAGE>





percentage,  the  numerator  of which  is the  aggregate  Certificate  Principal
Balance  of the Class B-2  Certificates  immediately  prior to such date and the
denominator  of which is the aggregate  Stated  Principal  Balance of all of the
Mortgage  Loans (or related  REO  Properties)(other  than the  related  Discount
Fraction of each Discount  Mortgage Loan) immediately prior to such Distribution
Date.

      Class  B-2   Prepayment   Distribution   Trigger:   With  respect  to  any
Distribution Date, a test that shall be satisfied if the fraction  (expressed as
a  percentage)  equal to the sum of the  Certificate  Principal  Balances of the
Class B-2  Certificates  and Class B-3  Certificates  immediately  prior to such
Distribution  Date divided by the aggregate Stated  Principal  Balance of all of
the  Mortgage  Loans  (or  related  REO  Properties)  immediately  prior to such
Distribution Date is greater than or equal to 0.40%.

      Class B-3 Percentage:  With respect to any  Distribution  Date, a fraction
expressed as a percentage,  the numerator of which is the aggregate  Certificate
Principal  Balance of the Class B-3 Certificates  immediately prior to such date
and the denominator of which is the aggregate  Stated  Principal  Balance of all
the Mortgage Loans (or related REO  Properties)(other  than the related Discount
Fraction of each Discount  Mortgage Loan) immediately prior to such Distribution
Date.

      Class  B-3   Prepayment   Distribution   Trigger:   With  respect  to  any
Distribution Date, a test that shall be satisfied if the fraction  (expressed as
a  percentage)  equal to the sum of the  Certificate  Principal  Balances of the
Class B-3 Certificates  immediately  prior to such  Distribution Date divided by
the aggregate Stated Principal  Balance of all of the Mortgage Loans (or related
REO Properties)  immediately  prior to such Distribution Date is greater than or
equal to 0.20%.

      Class M  Certificate:  Any one of the  Class M-1  Certificates,  Class M-2
Certificates or Class M-3 Certificates executed by the Trustee and authenticated
by the Certificate Registrar substantially in the form annexed hereto as Exhibit
B and evidencing an interest  designated as a "regular interest" in REMIC II for
purposes of the REMIC Provisions.

     Class M Percentage:  The Class M-1  Percentage,  Class M-2  Percentage  and
Class M-3 Percentage.

      Class M-1 Percentage:  With respect to any Distribution  Date, a fraction,
expressed as a percentage,  the numerator of which is the aggregate  Certificate
Principal  Balance of the Class M-1 Certificates  immediately prior to such date
and the denominator of which is the aggregate Stated Principal Balance of all of
the Mortgage Loans (or related REO  Properties)(other  than the related Discount
Fraction of each Discount  Mortgage Loan) immediately prior to such Distribution
Date.

      Class M-2 Percentage:  With respect to any Distribution  Date, a fraction,
expressed as a percentage,  the numerator of which is the aggregate  Certificate
Principal  Balance of the Class M-2 Certificates  immediately prior to such date
and the denominator of which is the aggregate Stated Principal Balance of all of
the Mortgage Loans (or related REO  Properties)(other  than the related Discount
Fraction of each Discount  Mortgage Loan) immediately prior to such Distribution
Date.

      Class  M-2   Prepayment   Distribution   Trigger:   With  respect  to  any
Distribution Date, a test that shall be satisfied if the fraction  (expressed as
a  percentage)  equal to the sum of the  Certificate  Principal  Balances of the
Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates,


                         9


<PAGE>





Class B-2  Certificates  and Class B-3  Certificates  immediately  prior to such
Distribution  Date divided by the aggregate Stated  Principal  Balance of all of
the  Mortgage  Loans  (or  related  REO  Properties)  immediately  prior to such
Distribution Date is greater than or equal to 1.90%.

      Class M-3 Percentage:  With respect to any Distribution  Date, a fraction,
expressed as a percentage,  the numerator of which is the aggregate  Certificate
Principal  Balance of the Class M-3 Certificates  immediately prior to such date
and the denominator of which is the aggregate Stated Principal Balance of all of
the Mortgage Loans (or related REO  Properties)(other  than the related Discount
Fraction of each Discount  Mortgage Loan) immediately prior to such Distribution
Date.

      Class  M-3   Prepayment   Distribution   Trigger:   With  respect  to  any
Distribution Date, a test that shall be satisfied if the fraction  (expressed as
a  percentage)  equal to the sum of the  Certificate  Principal  Balances of the
Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class
B-3  Certificates  immediately  prior to such  Distribution  Date divided by the
aggregate Stated Principal  Balance of all of the Mortgage Loans (or related REO
Properties) immediately prior to such Distribution Date is greater than or equal
to 1.15%.

     Class R Certificate:  Any one of the Class R-I  Certificates  or Class R-II
Certificates.

      Class R-I Certificate:  Any one of the Class R-I Certificates  executed by
the Trustee and authenticated by the Certificate Registrar  substantially in the
form annexed  hereto as Exhibit D and  evidencing  an interest  designated  as a
"residual interest" in REMIC I for purposes of the REMIC Provisions.

      Class R-II Certificate: Any one of the Class R-II Certificates executed by
the Trustee and authenticated by the Certificate Registrar  substantially in the
form annexed  hereto as Exhibit D and  evidencing  an interest  designated  as a
"residual interest" in REMIC II for purposes of the REMIC Provisions.

      Closing Date:  April 29, 1999.

      Code:  The Internal Revenue Code of 1986.

      Compensating  Interest:  With respect to any Distribution  Date, an amount
equal to Prepayment Interest Shortfalls resulting from Principal  Prepayments in
Full during the related  Prepayment  Period, but not more than the lesser of (a)
one-twelfth  of 0.125% of the Stated  Principal  Balance of the  Mortgage  Loans
immediately  preceding such  Distribution  Date and (b) the sum of the Servicing
Fee,  all income  and gain on  amounts  held in the  Custodial  Account  and the
Certificate Account and payable to the  Certificateholders  with respect to such
Distribution Date and servicing compensation to which the Master Servicer may be
entitled pursuant to Section 3.10(a)(v) and (vi);  provided that for purposes of
this definition the amount of the Servicing Fee will not be reduced  pursuant to
Section  7.02  except as may be required  pursuant to the last  sentence of such
Section.

      Cooperative:  A private,  cooperative housing corporation  organized under
the laws of,  and  headquartered  in, the State of New York which owns or leases
land and all or part of a  building  or  buildings  located  in the State of New
York, 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.


                         10


<PAGE>





      Cooperative Apartment: A dwelling unit in a multi-dwelling  building owned
or leased by a Cooperative,  which unit the Mortgagor has an exclusive  right to
occupy pursuant to the terms of a proprietary lease or occupancy agreement.

      Cooperative  Lease:  With respect to a Cooperative  Loan, the  proprietary
lease or occupancy agreement with respect to the Cooperative  Apartment occupied
by the Mortgagor and relating to the related  Cooperative  Stock, which lease or
agreement  confers an exclusive right to the holder of such Cooperative Stock to
occupy such apartment.

      Cooperative  Loans:  Any  of the  Mortgage  Loans  made  in  respect  of a
Cooperative  Apartment,  evidenced  by a  Mortgage  Note  and  secured  by (i) a
Security  Agreement,  (ii) the related  Cooperative Stock Certificate,  (iii) an
assignment of the Cooperative  Lease, (iv) financing  statements and (v) a stock
power (or other  similar  instrument),  and  ancillary  thereto,  a  recognition
agreement  between the Cooperative  and the originator of the Cooperative  Loan,
each of which was  transferred  and assigned to the Trustee  pursuant to Section
2.01 and are from time to time held as part of the Trust Fund.

     Cooperative   Stock:  With  respect  to  a  Cooperative  Loan,  the  single
outstanding class of stock,  partnership  interest or other ownership instrument
in the related Cooperative.

     Cooperative  Stock  Certificate:  With respect to a Cooperative  Loan,  the
stock certificate or other instrument evidencing the related Cooperative Stock.

      Corporate  Trust Office:  The principal  office of the Trustee 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
instrument  is  located  at Four  Albany  Street,  New  York,  New  York  10006,
Attention: Residential Funding Corporation Series 1999-S9.

     Credit Support  Depletion  Date: The first  Distribution  Date on which the
Senior Percentage equals 100%.

     Curtailment:  Any Principal  Prepayment  made by a Mortgagor which is not a
Principal Prepayment in Full.

      Custodial   Account:   The  custodial  account  or  accounts  created  and
maintained pursuant to Section 3.07 in the name of a depository institution,  as
custodian for the holders of the Certificates,  for the holders of certain other
interests in mortgage loans serviced or sold by the Master  Servicer and for the
Master  Servicer,  into which the  amounts  set forth in  Section  3.07 shall be
deposited directly. Any such account or accounts shall be an Eligible Account.

      Custodial  Agreement:  An  agreement  that may be  entered  into among the
Company,  the Master Servicer,  the Trustee and a Custodian in substantially the
form of Exhibit E hereto.

      Custodian:  A custodian appointed pursuant to a Custodial Agreement.

      Cut-off Date:  April 1, 1999.

     Cut-off  Date  Principal  Balance:  As to any  Mortgage  Loan,  the  unpaid
principal balance


                         11


<PAGE>





thereof at the Cut-off Date after giving effect to all installments of principal
due on or prior thereto, whether or not received.

      DCR:  Duff & Phelps Credit Rating Company, or its successor in interest.

      Debt Service Reduction:  With respect to any Mortgage Loan, a reduction in
the  scheduled  Monthly  Payment for such  Mortgage Loan by a court of competent
jurisdiction in a proceeding under the Bankruptcy Code,  except such a reduction
constituting a Deficient  Valuation or any reduction that results in a permanent
forgiveness of principal.

      Deficient  Valuation:  With respect to any Mortgage Loan, a valuation by a
court of competent jurisdiction of the Mortgaged Property in an amount less than
the then outstanding  indebtedness  under the Mortgage Loan, or any reduction in
the amount of  principal to be paid in  connection  with any  scheduled  Monthly
Payment that constitutes a permanent  forgiveness of principal,  which valuation
or reduction results from a proceeding under the Bankruptcy Code.

      Definitive Certificate:  Any definitive, fully registered Certificate.

     Deleted  Mortgage  Loan: A Mortgage  Loan replaced or to be replaced with a
Qualified Substitute Mortgage Loan.

      Delinquent: As used herein, a Mortgage Loan is considered to be: "30 to 59
days" or "30 or more days"  delinquent  when a payment due on any  scheduled due
date  remains  unpaid  as of the  close of  business  on the last  business  day
immediately  prior to the next following  monthly  scheduled due date; "60 to 89
days" or "60 or more days"  delinquent  when a payment due on any  scheduled due
date  remains  unpaid  as of the  close of  business  on the last  business  day
immediately prior to the second following monthly scheduled due date; and so on.
The  determination  as to whether a Mortgage Loan falls into these categories is
made as of the close of business  on the last  business  day of each month.  For
example, a Mortgage Loan with a payment due on July 1 that remained unpaid as of
the close of  business on July 31 would then be  considered  to be 30 to 59 days
delinquent.  Delinquency  information  as of the Cut-off Date is determined  and
prepared as of the close of business on the last business day immediately  prior
to the Cut-off Date.

      Depository:  The  Depository  Trust Company,  or any successor  Depository
hereafter  named.  The  nominee  of  the  initial  Depository  for  purposes  of
registering those Certificates that are to be Book-Entry  Certificates is Cede &
Co. The Depository shall at all times be a "clearing  corporation" as defined in
Section  8-102(a)(5) of the Uniform Commercial Code of the State of New York and
a "clearing agency" registered  pursuant to the provisions of Section 17A of the
Securities Exchange Act of 1934, as amended.

      Depository  Participant:   A  broker,  dealer,  bank  or  other  financial
institution  or other  Person  for whom from time to time a  Depository  effects
book-entry transfers and pledges of securities deposited with the Depository.

     Destroyed  Mortgage  Note:  A  Mortgage  Note the  original  of  which  was
permanently lost or destroyed and has not been replaced.

     Determination Date: With respect to any Distribution Date, the 20th day (or
if such 20th day


                         12


<PAGE>





is not a Business Day, the Business Day immediately  following such 20th day) of
the month of the related Distribution Date.

      Discount  Fraction:  With  respect to each  Discount  Mortgage  Loan,  the
fraction  expressed as a  percentage,  the numerator of which is 6.75% minus the
Net Mortgage Rate (or the initial Net Mortgage Rate with respect to any Discount
Mortgage  Loans as to which the Mortgage  Rate is modified  pursuant to 3.07(a))
for such  Mortgage  Loan and the  denominator  of which is 6.75%.  The  Discount
Fraction with respect to each  Discount  Mortgage Loan is set forth on Exhibit P
attached hereto.

      Discount  Mortgage  Loan: Any Mortgage Loan having a Net Mortgage Rate (or
the initial  Net  Mortgage  Rate) of less than 6.75% per annum and any  Mortgage
Loan  deemed to be a  Discount  Mortgage  Loan  pursuant  to the  definition  of
Qualified Substitute Mortgage Loan.

      Disqualified  Organization:  Any  organization  defined as a "disqualified
organization"  under Section  860E(e)(5) of the Code,  which includes any of the
following:  (i) the United States, any State or political  subdivision  thereof,
any possession of the United States, or any agency or  instrumentality of any of
the foregoing  (other than an  instrumentality  which is a corporation if all of
its activities  are subject to tax and,  except for the FHLMC, a majority of its
board of directors is not selected by such  governmental  unit),  (ii) a foreign
government, any international organization,  or any agency or instrumentality of
any of the  foregoing,  (iii) any  organization  (other  than  certain  farmers'
cooperatives  described in Section 521 of the Code) which is exempt from the tax
imposed by Chapter 1 of the Code  (including  the tax  imposed by Section 511 of
the  Code on  unrelated  business  taxable  income),  (iv)  rural  electric  and
telephone  cooperatives  described in Section 1381(a)(2)(C) of the Code, (v) any
"electing large  partnership," as defined in Section 775(a) of the Code and (vi)
any other Person so  designated  by the Trustee based upon an Opinion of Counsel
that the  holding of an  Ownership  Interest  in a Class R  Certificate  by such
Person may cause REMIC I or REMIC II or any Person having an Ownership  Interest
in any Class of  Certificates  (other than such Person) to incur a liability for
any federal tax imposed  under the Code that would not  otherwise be imposed but
for the  Transfer  of an  Ownership  Interest in a Class R  Certificate  to such
Person.  The terms "United  States,"  "State" and  "international  organization"
shall  have the  meanings  set forth in  Section  7701 of the Code or  successor
provisions.

      Distribution  Date:  The  25th day of any  month  beginning  in the  month
immediately  following the month of the initial issuance of the Certificates or,
if such 25th day is not a Business Day, the Business Day  immediately  following
such 25th day.

     Due Date: With respect to any Distribution Date, the first day of the month
in which such Distribution Date occurs.

      Due Period:  With respect to any Distribution  Date, the period commencing
on the second day of the month preceding the month of such Distribution Date and
ending on the related Due Date.

      Eligible Account: An account that is any of the following:  (i) maintained
with a depository  institution the debt  obligations of which have been rated by
each  Rating  Agency in its  highest  rating  available,  or (ii) an  account or
accounts in a depository institution in which such accounts are fully insured to
the limits  established  by the FDIC,  provided that any deposits not so insured
shall, to the


                         13


<PAGE>





extent acceptable to each Rating Agency, as evidenced in writing,  be maintained
such that (as  evidenced  by an Opinion of Counsel  delivered to the Trustee and
each Rating Agency) the  registered  Holders of  Certificates  have a claim with
respect to the funds in such  account or a  perfected  first  security  interest
against  any  collateral  (which  shall be  limited  to  Permitted  Investments)
securing  such  funds  that is  superior  to claims of any other  depositors  or
creditors of the depository  institution  with which such account is maintained,
or (iii) in the case of the  Custodial  Account,  a trust  account  or  accounts
maintained  in the  corporate  trust  department  of The First  National Bank of
Chicago,  or (iv) in the case of the  Certificate  Account,  a trust  account or
accounts maintained in the corporate trust division of Bankers Trust Company, or
(v) an account or accounts of a depository institution acceptable to each Rating
Agency  (as  evidenced  in writing by each  Rating  Agency  that use of any such
account as the Custodial Account or the Certificate  Account will not reduce the
rating  assigned to any Class of  Certificates  by such Rating  Agency below the
lower of the then-current  rating or the rating assigned to such Certificates as
of the Closing Date by such Rating Agency).

      Eligible  Funds:  On any  Distribution  Date, the portion,  if any, of the
Available  Distribution  Amount  remaining after reduction by the sum of (i) the
aggregate  amount of Accrued  Certificate  Interest on the Senior  Certificates,
(ii) the Senior  Principal  Distribution  Amount  (determined  without regard to
Section  4.02(a)(ii)(Y)(D)  hereof),  (iii) the Class A-P Principal Distribution
Amount (determined without regard to Section  4.02(b)(i)(E) hereof) and (iv) the
aggregate amount of Accrued  Certificate  Interest on the Class M, Class B-1 and
Class B-2 Certificates.

      Event of Default:  As defined in Section 7.01.

     Excess  Bankruptcy  Loss: Any Bankruptcy  Loss, or portion  thereof,  which
exceeds the then applicable Bankruptcy Amount.

     Excess Fraud Loss:  Any Fraud Loss, or portion  thereof,  which exceeds the
then applicable Fraud Loss Amount.

     Excess Special  Hazard Loss:  Any Special Hazard Loss, or portion  thereof,
that exceeds the then applicable Special Hazard Amount.

      Excess Subordinate Principal Amount: With respect to any Distribution Date
on which the  Certificate  Principal  Balance of the most  subordinate  class or
classes of Certificates (as established in Section 4.05 hereof) then outstanding
is to be reduced to zero and on which  Realized  Losses are to be  allocated  to
such  class or  classes,  the  excess,  if any,  of (i) the  amount  that  would
otherwise be  distributable  in respect of principal on such class or classes of
Certificates  on such  Distribution  Date over (ii) the  excess,  if any, of the
Certificate   Principal  Balance  of  such  class  or  classes  of  Certificates
immediately  prior to such  Distribution  Date  over  the  aggregate  amount  of
Realized  Losses  to be  allocated  to  such  classes  of  Certificates  on such
Distribution  Date,  as reduced by any such  amount  that is included in Section
4.02(b)(i)(E) hereof.

      Extraordinary  Events:  Any of the following  conditions with respect to a
Mortgaged  Property  (or, with respect to a Cooperative  Loan,  the  Cooperative
Apartment)  or Mortgage  Loan  causing or  resulting  in a loss which causes the
liquidation of such Mortgage Loan:

     (a) losses that are of the type that would be covered by the fidelity  bond
and the


                         14


<PAGE>





     errors and omissions insurance policy required to be maintained pursuant to
     Section 3.12(b) but are in excess of the coverage maintained thereunder;

           (b)   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  the
      definition of the term "Special Hazard Loss";

           (c)  hostile  or  warlike  action in time of peace or war,  including
      action in hindering,  combating or defending against an actual,  impending
      or expected attack:

                 (i) by any government or sovereign  power, de jure or de facto,
            or by any  authority  maintaining  or using  military,  naval or air
            forces; or

                 (ii)   by military, naval or air forces; or

                 (iii) by an agent of any such government,  power,  authority or
forces;

           (d) any weapon of war employing  atomic fission or radioactive  force
      whether in time of peace or war; or

           (e) insurrection,  rebellion, revolution, civil war, usurped power or
      action  taken  by  governmental  authority  in  hindering,   combating  or
      defending  against  such  an  occurrence,  seizure  or  destruction  under
      quarantine or customs regulations, confiscation by order of any government
      or public authority;  or risks of contraband or illegal  transportation or
      trade.

     Extraordinary  Losses:  Any loss  incurred on a Mortgage  Loan caused by or
resulting from an Extraordinary Event.

     FASIT:  A "financial  asset  securitization  investment  trust"  within the
meaning of Section 860L of the Code.

      FDIC:  Federal Deposit Insurance Corporation or any successor thereto.

      FHLMC: Federal Home Loan Mortgage Corporation, a corporate instrumentality
of the United States  created and existing under Title III of the Emergency Home
Finance Act of 1970, as amended, or any successor thereto.

      Final  Distribution  Date:  The  Distribution  Date  on  which  the  final
distribution  in respect of the  Certificates  will be made  pursuant to Section
9.01, which Final  Distribution  Date shall in no event be later than the end of
the 90-day liquidation period described in Section 9.03.

      Fitch IBCA:  Fitch IBCA, Inc. or its successor in interest.

      FNMA:  Federal National Mortgage  Association,  a federally  chartered and
privately owned  corporation  organized and existing under the Federal  National
Mortgage Association Charter Act, or any successor thereto.


                         15


<PAGE>





      Foreclosure Profits: As to any Distribution Date or related  Determination
Date and any  Mortgage  Loan,  the  excess,  if any,  of  Liquidation  Proceeds,
Insurance Proceeds and REO Proceeds (net of all amounts  reimbursable  therefrom
pursuant  to  Section  3.10(a)(ii))  in  respect  of each  Mortgage  Loan or REO
Property for which a Cash Liquidation or REO Disposition occurred in the related
Prepayment  Period over the sum of the unpaid principal balance of such Mortgage
Loan  or REO  Property  (determined,  in the  case  of an  REO  Disposition,  in
accordance  with Section 3.14) plus accrued and unpaid  interest at the Mortgage
Rate on such unpaid  principal  balance from the Due Date to which  interest was
last paid by the Mortgagor to the first day of the month  following the month in
which such Cash Liquidation or REO Disposition occurred.

      Fraud Loss Amount: As of any date of determination after the Cut-off Date,
an amount equal to: (X) prior to the second  anniversary  of the Cut-off Date an
amount equal to 1.00% of the aggregate  outstanding  principal balance of all of
the Mortgage  Loans as of the Cut-off Date minus the  aggregate  amount of Fraud
Losses  allocated  solely to one or more  specific  Classes of  Certificates  in
accordance  with  Section  4.05  since  the  Cut-off  Date  up to  such  date of
determination,  and (Y) from the second to the fifth  anniversary of the Cut-off
Date,  an amount  equal to (1) the lesser of (a) the Fraud Loss Amount as of the
most  recent  anniversary  of the  Cut-off  Date and (b) 0.50% of the  aggregate
outstanding principal balance of all of the Mortgage Loans as of the most recent
anniversary  of the Cut-off Date minus (2) the aggregate  amount of Fraud Losses
allocated  solely to one or more specific  Classes of Certificates in accordance
with  Section 4.05 since the most recent  anniversary  of the Cut-off Date up to
such date of  determination.  On and after the fifth  anniversary of the Cut-off
Date, the Fraud Loss Amount shall be zero.

      The Fraud  Loss  Amount may be  further  reduced  by the  Master  Servicer
(including  accelerating the manner in which such coverage is reduced)  provided
that prior to any such  reduction,  the Master Servicer shall (i) obtain written
confirmation  from each Rating Agency that such  reduction  shall not reduce the
rating  assigned to any Class of  Certificates  by such Rating  Agency below the
lower of the then-current  rating or the rating assigned to such Certificates as
of the  Closing  Date by such  Rating  Agency  and (ii)  provide  a copy of such
written confirmation to the Trustee.

     Fraud Losses:  Losses on Mortgage  Loans as to which there was fraud in the
origination of such Mortgage Loan.

      Independent:  When used with respect to any specified Person, means such a
Person who (i) is in fact  independent of the Company,  the Master  Servicer and
the Trustee,  or any Affiliate thereof,  (ii) does not have any direct financial
interest or any material indirect financial interest in the Company,  the Master
Servicer or the Trustee or in an Affiliate  thereof,  and (iii) is not connected
with the Company,  the Master  Servicer or the Trustee as an officer,  employee,
promoter,  underwriter,  trustee, partner, director or person performing similar
functions.

      Initial  Certificate  Principal  Balance:  With  respect  to each Class of
Certificates, the Certificate Principal Balance of such Class of Certificates as
of the Cut-off Date as set forth in the Preliminary Statement hereto.

      Initial  Class  A-6  Notional  Amount:  With  respect  to  the  Class  A-6
Certificates,  the  Initial  Certificate  Principal  Balance  of the  Class  A-4
Certificates divided by 27.


                         16


<PAGE>





      Initial  Class  A-V  Notional  Amount:  With  respect  to  any  Class  A-V
Certificate,   the  Cut-off  Date  Principal   Balance  of  the  Mortgage  Loans
corresponding to the  Uncertificated  REMIC II Regular Interests  represented by
such Class A-V Certificate.

      Initial Monthly Payment Fund:  As defined in Section 2.01(g).

     Initial Notional Amount: With respect to any Class A-6 Certificate or Class
A-V Certificate,  the Initial Class A-6 Notional Amount or the Initial Class A-V
Notional Amount, respectively.

      Insurance  Proceeds:  Proceeds  paid  in  respect  of the  Mortgage  Loans
pursuant to any Primary  Insurance Policy or any other related  insurance policy
covering a  Mortgage  Loan,  to the  extent  such  proceeds  are  payable to the
mortgagee  under the  Mortgage,  any  Subservicer,  the Master  Servicer  or the
Trustee and are not applied to the restoration of the related Mortgaged Property
(or, with respect to a Cooperative Loan, the related  Cooperative  Apartment) or
released to the  Mortgagor in  accordance  with the  procedures  that the Master
Servicer would follow in servicing mortgage loans held for its own account.

     Insurer:  Any named  insurer  under  any  Primary  Insurance  Policy or any
successor thereto or the named insurer in any replacement policy.

     Interest   Accrual  Period:   With  respect  to  any  Certificate  and  any
Distribution  Date,  the  calendar  month  preceding  the  month in  which  such
Distribution Date occurs.

     Junior Certificateholder: The Holder of not less than 95% of the Percentage
Interests of the Junior Class of Certificates.

      Junior Class of Certificates:  The Class of Certificates outstanding as of
the date of the  repurchase  of a Mortgage  Loan pursuant to Section 4.07 herein
that has the latest priority for payments pursuant to Section 4.02.

      Late Collections:  With respect to any Mortgage Loan, all amounts received
during any Due  Period,  whether as late  payments  of  Monthly  Payments  or as
Insurance  Proceeds,  Liquidation  Proceeds or otherwise,  which  represent late
payments or  collections  of Monthly  Payments due but delinquent for a previous
Due Period and not previously recovered.

      Liquidation Proceeds:  Amounts (other than Insurance Proceeds) received by
the  Master  Servicer  in  connection  with the  taking of an  entire  Mortgaged
Property  by  exercise  of the power of  eminent  domain or  condemnation  or in
connection with the liquidation of a defaulted  Mortgage Loan through  trustee's
sale, foreclosure sale or otherwise, other than REO Proceeds.

      Loan-to-Value  Ratio:  As  of  any  date,  the  fraction,  expressed  as a
percentage,  the  numerator  of which is the  current  principal  balance of the
related Mortgage Loan at the date of determination  and the denominator of which
is the Appraised Value of the related Mortgaged Property.

      Lockout Prepayment  Percentage:  For any Distribution Date occurring prior
to the Distribution  Date in May 2004, 0%; for any  Distribution  Date occurring
after April 2004 but prior to May 2005, 30%; for any Distribution Date occurring
after April 2005 but prior to May 2006, 40%; for any Distribution Date occurring
after April 2006 but prior to May 2007, 60%; for any


                         17


<PAGE>





Distribution Date occurring after April 2007 but prior to May 2008, 80%; for any
Distribution Date after April 2008, 100%.

      Lockout Scheduled Percentage: For any Distribution Date occurring prior to
the Distribution  Date in May 2004, 0% and for any  Distribution  Date occurring
thereafter, 100%.

      Maturity Date: The latest possible  maturity date,  solely for purposes of
Section  1.860G-  1(a)(4)(iii)  of  the  Treasury  regulations,   by  which  the
Certificate  Principal  Balance of each Class of  Certificates  (other  than the
Class A-6  Certificates  and Class A-V  Certificates  which have no  Certificate
Principal  Balance)  representing  a  regular  interest  in  REMIC  II  and  the
Uncertificated Principal Balance of each Uncertificated REMIC I Regular Interest
(other than each  Uncertificated  REMIC I Regular  Interest Z) and the rights to
the Class A-6 Certificates and Class A-V Certificates  would be reduced to zero,
which is April 25, 2029, the Distribution Date immediately  following the latest
scheduled  maturity date of any Mortgage Loan. The latest possible Maturity Date
for each Uncertificated  REMIC I Regular Interest Z and Uncertificated  REMIC II
Regular Interest is April 25, 2029,  which is the Distribution  Date immediately
following the latest scheduled maturity date of any Mortgage Loan.

      MLCC:  Merrill Lynch Credit Corporation, or its successor in interest.

     Modified  Mortgage  Loan:  Any Mortgage Loan that has been the subject of a
Servicing Modification.

      Modified Net Mortgage Rate: As to any Mortgage Loan that is the subject of
a  Servicing  Modification,  the Net  Mortgage  Rate minus the rate per annum by
which the Mortgage Rate on such Mortgage Loan was reduced.

      Monthly  Payment:  With respect to any Mortgage  Loan  (including  any REO
Property) and any Due Date, the payment of principal and interest due thereon in
accordance with the amortization  schedule at the time applicable thereto (after
adjustment,  if any, for  Curtailments  and for Deficient  Valuations  occurring
prior to such Due Date but before any adjustment to such  amortization  schedule
by reason of any  bankruptcy,  other  than a  Deficient  Valuation,  or  similar
proceeding or any  moratorium  or similar  waiver or grace period and before any
Servicing Modification that constitutes a reduction of the interest rate on such
Mortgage Loan).

      Moody's:  Moody's Investors Service, Inc., or its successor in interest.

      Mortgage:  With respect to each  Mortgage  Note related to a Mortgage Loan
which is not a Cooperative Loan, the mortgage, deed of trust or other comparable
instrument  creating  a first  lien on an  estate  in fee  simple  or  leasehold
interest in real property securing a Mortgage Note.

      Mortgage  100SM Loan: A Mortgage  Loan that has a  Loan-to-Value  Ratio at
origination in excess of 80.00% and that is secured by Additional Collateral and
does not have a Primary Insurance Policy.

      Mortgage File: The mortgage documents listed in Section 2.01 pertaining to
a particular Mortgage Loan and any additional  documents required to be added to
the Mortgage File pursuant to this Agreement.


                         18


<PAGE>





      Mortgage Loan Schedule:  The list of the Mortgage Loans attached hereto as
Exhibit F (as  amended  from time to time to reflect the  addition of  Qualified
Substitute  Mortgage  Loans),  which  list  shall  set  forth at a  minimum  the
following information as to each Mortgage Loan:

                 (i)    the Mortgage Loan identifying number ("RFC LOAN #");

                 (ii) the street  address of the  Mortgaged  Property  (or, with
            respect to a Cooperative  Loan, the related  Cooperative  Apartment)
            including state and zip code ("ADDRESS");

                 (iii) the maturity of the Mortgage Note ("MATURITY DATE");

                 (iv)   the Mortgage Rate ("ORIG RATE");

                 (v)    the Subservicer pass-through rate ("CURR NET");

                 (vi) the Net Mortgage Rate ("NET MTG RT");

                 (vii)  the Pool Strip Rate ("STRIP");

                 (viii) the initial scheduled  monthly payment of principal,  if
            any, and interest ("ORIGINAL P & I");

                 (ix) the Cut-off Date Principal Balance ("PRINCIPAL BAL");

                 (x)    the Loan-to-Value Ratio at origination ("LTV");

                 (xi) the rate at which the Subservicing  Fee accrues  ("SUBSERV
            FEE") and at which the Servicing Fee accrues ("MSTR SERV FEE");

                 (xii) a code "T," "BT" or "CT" under the  column "LN  FEATURE,"
            indicating that the Mortgage Loan is secured by a second or vacation
            residence; and

                 (xiii) a code "N" under the column "OCCP CODE," indicating that
            the Mortgage Loan is secured by a non-owner occupied residence.

Such schedule may consist of multiple reports that collectively set forth all of
the information required.

      Mortgage Loans: Such of the mortgage loans transferred and assigned to the
Trustee  pursuant to Section  2.01 as from time to time are held or deemed to be
held as a part of the Trust Fund,  the Mortgage  Loans  originally so held being
identified in the initial  Mortgage  Loan  Schedule,  and  Qualified  Substitute
Mortgage Loans held or deemed held as part of the Trust Fund including,  without
limitation,  (i) with respect to each  Cooperative  Loan,  the related  Mortgage
Note,  Security  Agreement,  Assignment of Proprietary Lease,  Cooperative Stock
Certificate,  Cooperative  Lease and Mortgage  File and all rights  appertaining
thereto,  and (ii) with respect to each  Mortgage  Loan other than a Cooperative
Loan,  each related  Mortgage  Note,  Mortgage and Mortgage  File and all rights
appertaining thereto.


                         19


<PAGE>





      Mortgage  Note:  The  originally   executed  note  or  other  evidence  of
indebtedness  evidencing the  indebtedness of a Mortgagor under a Mortgage Loan,
together with any modification thereto.

     Mortgage  Rate:  As to any Mortgage  Loan,  the interest  rate borne by the
related  Mortgage  Note,  or any  modification  thereto  other than a  Servicing
Modification.

      Mortgaged Property:  The underlying real property securing a Mortgage Loan
or,  with  respect to a  Cooperative  Loan,  the related  Cooperative  Lease and
Cooperative Stock.

      Mortgagor:  The obligor on a Mortgage Note.

      Net Mortgage  Rate: As to each Mortgage Loan, a per annum rate of interest
equal to the  Adjusted  Mortgage  Rate  less  the per  annum  rate at which  the
Servicing Fee is calculated.

     Non-Discount Mortgage Loan: A Mortgage Loan that is not a Discount Mortgage
Loan.

     Non-Primary  Residence  Loans:  The Mortgage Loans designated as secured by
second or vacation  residences,  or by  non-owner  occupied  residences,  on the
Mortgage Loan Schedule.

      Non-United States Person:  Any Person other than a United States Person.

      Nonrecoverable Advance: Any Advance previously made or proposed to be made
by the Master  Servicer  in respect of a  Mortgage  Loan  (other  than a Deleted
Mortgage Loan) which,  in the good faith judgment of the Master  Servicer,  will
not, or, in the case of a proposed Advance, would not, be ultimately recoverable
by the Master  Servicer  from  related  Late  Collections,  Insurance  Proceeds,
Liquidation  Proceeds,  REO  Proceeds  or  amounts  reimbursable  to the  Master
Servicer  pursuant to Section 4.02(a) hereof.  The  determination  by the Master
Servicer that it has made a Nonrecoverable  Advance or that any proposed Advance
would  constitute a Nonrecoverable  Advance,  shall be evidenced by an Officers'
Certificate delivered to the Company and the Trustee.

     Nonsubserviced  Mortgage  Loan:  Any  Mortgage  Loan  that,  at the time of
reference thereto, is not subject to a Subservicing Agreement.

     Notional  Amount:  Either  the Class A-6  Notional  Amount or the Class A-V
Notional Amount, as applicable.

      Officers' Certificate:  A certificate signed by the Chairman of the Board,
the President or a Vice President or Assistant Vice President,  or a Director or
Managing Director, and by the Treasurer,  the Secretary, or one of the Assistant
Treasurers or Assistant  Secretaries of the Company or the Master  Servicer,  as
the case may be, and delivered to the Trustee, as required by this Agreement.

      Opinion of Counsel: A written opinion of counsel acceptable to the Trustee
and the  Master  Servicer,  who may be  counsel  for the  Company  or the Master
Servicer, provided that any opinion of counsel (i) referred to in the definition
of "Disqualified  Organization" or (ii) relating to the qualification of REMIC I
or REMIC II as a REMIC or the  compliance  of REMIC I or REMIC II with the REMIC
Provisions  must,  unless  otherwise  specified,  be an opinion  of  Independent
counsel.

     Original Senior Percentage:  The fraction,  expressed as a percentage,  the
numerator of which


                         20


<PAGE>





is  the  aggregate   Initial   Certificate   Principal  Balance  of  the  Senior
Certificates  (other than the Class A-P  Certificates)  and the  denominator  of
which is the aggregate  Stated  Principal  Balance of the Mortgage  Loans (other
than  the  Discount  Fraction  of  the  Discount   Mortgage  Loans),   which  is
approximately 96.00% as of the Closing Date.

      Outstanding  Mortgage Loan: As to any Due Date, a Mortgage Loan (including
an REO  Property)  which was not the subject of a Principal  Prepayment in Full,
Cash  Liquidation or REO  Disposition  and which was not  purchased,  deleted or
substituted  for prior to such Due Date pursuant to Section 2.02,  2.03, 2.04 or
4.07.

      Ownership  Interest:  As to any  Certificate,  any  ownership  or security
interest in such Certificate,  including any interest in such Certificate as the
Holder thereof and any other interest therein, whether direct or indirect, legal
or beneficial, as owner or as pledgee.

      Parent  PowerSM  Loan: A Mortgage Loan that has a  Loan-to-Value  Ratio at
origination in excess of 80.00%, that is supported by Additional  Collateral and
does not have a Primary Insurance Policy.

      Pass-Through Rate: With respect to the Senior Certificates (other than the
Class A-P  Certificates  and Class A-V  Certificates),  Class M Certificates and
Class B Certificates and any Distribution Date, the per annum rates set forth in
the Preliminary  Statement  hereto.  With respect to the Class A-V  Certificates
(other than any Subclass thereof) and any Distribution Date, a rate equal to the
weighted  average,  expressed  as a  percentage,  of the Pool Strip Rates of all
Mortgage Loans as of the Due Date in the month next preceding the month in which
such  Distribution  Date occurs,  weighted on the basis of the respective Stated
Principal Balances of such Mortgage Loans, which Stated Principal Balances shall
be the Stated Principal Balances of such Mortgage Loans at the close of business
on  the  immediately   preceding   Distribution  Date  after  giving  effect  to
distributions  thereon allocable to principal to the Holders of the Certificates
(or, with respect to the initial  Distribution Date, at the close of business on
the Cut-off Date).  With respect to the Class A-V  Certificates  and the initial
Distribution  Date, the  Pass-Through  Rate is equal to 0.1421% per annum.  With
respect to any Subclass of Class A-V Certificates  and any Distribution  Date, a
rate equal to the weighted average, expressed as a percentage, of the Pool Strip
Rates of all Mortgage Loans corresponding to the Uncertificated REMIC II Regular
Interests  represented  by such  Subclass  as of the Due Date in the month  next
preceding  the month in which such  Distribution  Date  occurs,  weighted on the
basis of the respective Stated Principal  Balances of such Mortgage Loans, which
Stated  Principal  Balances  shall  be the  Stated  Principal  Balances  of such
Mortgage  Loans  at  the  close  of  business  on  the   immediately   preceding
Distribution  Date after giving  effect to  distributions  thereon  allocable to
principal  to the Holders of the  Certificates  (or with  respect to the initial
Distribution  Date, at the close of business on the Cut-off Date). The Class A-P
Certificates  have  no  Pass-Through  Rate  and  are  not  entitled  to  Accrued
Certificate Interest.

     Paying Agent: Bankers Trust Company or any successor Paying Agent appointed
by the Trustee.

      Percentage Interest: With respect to any Certificate (other than a Class R
Certificate),  the undivided  percentage ownership interest in the related Class
evidenced by such  Certificate,  which  percentage  ownership  interest shall be
equal to the Initial Certificate Principal Balance thereof or


                         21


<PAGE>





Initial  Notional  Amount  thereof (in the case of any Class A-6  Certificate or
Class A-V Certificate)  divided by the aggregate Initial  Certificate  Principal
Balance or the aggregate of the Initial Notional Amounts, as applicable,  of all
the Certificates of the same Class.  With respect to a Class R Certificate,  the
interest  in  distributions  to be made with  respect  to such  Class  evidenced
thereby,  expressed  as a  percentage,  as  stated  on the  face  of  each  such
Certificate.

      Permitted Investments:  One or more of the following:

                 (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  specified in clause
            (i)  maturing  not more than one month from the date of  acquisition
            thereof,  provided  that  the  unsecured  obligations  of the  party
            agreeing to  repurchase  such  obligations  are at the time rated by
            each Rating Agency in its highest short-term rating available;

                 (iii) federal funds,  certificates of deposit, demand deposits,
            time  deposits  and bankers'  acceptances  (which shall each have an
            original  maturity  of not  more  than 90 days  and,  in the case of
            bankers' acceptances, shall in no event have an original maturity of
            more  than 365 days or a  remaining  maturity  of more than 30 days)
            denominated  in  United  States  dollars  of  any  U.S.   depository
            institution  or trust  company  incorporated  under  the laws of the
            United  States or any state  thereof or of any domestic  branch of a
            foreign depository  institution or trust company;  provided that the
            debt  obligations  of such  depository  institution or trust company
            (or, if the only Rating Agency is Standard & Poor's,  in the case of
            the principal  depository  institution  in a depository  institution
            holding  company,  debt  obligations of the  depository  institution
            holding company) at the date of acquisition  thereof have been rated
            by each Rating Agency in its highest  short-term  rating  available;
            and provided  further  that, if the only Rating Agency is Standard &
            Poor's  and  if the  depository  or  trust  company  is a  principal
            subsidiary  of a bank holding  company and the debt  obligations  of
            such  subsidiary are not  separately  rated,  the applicable  rating
            shall be that of the bank holding  company;  and,  provided  further
            that, if the original  maturity of such short-term  obligations of a
            domestic branch of a foreign depository institution or trust company
            shall  exceed 30 days,  the  short-term  rating of such  institution
            shall be A-1+ in the case of  Standard & Poor's if Standard & Poor's
            is the Rating Agency;

                 (iv)  commercial   paper  and  demand  notes  (having  original
            maturities   of  not  more  than  365   days)  of  any   corporation
            incorporated  under  the  laws of the  United  States  or any  state
            thereof  which on the  date of  acquisition  has been  rated by each
            Rating Agency in its highest  short-term rating available;  provided
            that such  commercial  paper or demand  notes shall have a remaining
            maturity of not more than 30 days;

                 (v) a money market fund or a qualified investment fund rated by
            each Rating Agency in its highest long-term rating available; and


                         22


<PAGE>





                 (vi) other  obligations  or securities  that are  acceptable to
            each Rating Agency as a Permitted  Investment hereunder and will not
            reduce  the rating  assigned  to any Class of  Certificates  by such
            Rating  Agency  below  the lower of the  then-current  rating or the
            rating assigned to such  Certificates as of the Closing Date by such
            Rating Agency, as evidenced in writing;

provided,  however,  no  instrument  shall  be  a  Permitted  Investment  if  it
represents,  either (1) the right to receive only interest payments with respect
to the underlying debt instrument or (2) the right to receive both principal and
interest  payments derived from  obligations  underlying such instrument and the
principal and interest payments with respect to such instrument  provide a yield
to maturity greater than 120% of the yield to maturity at par of such underlying
obligations.  References  herein to the highest  rating  available  on unsecured
long-term  debt shall mean AAA in the case of Standard & Poor's,  Fitch IBCA and
DCR and Aaa in the case of Moody's,  and references herein to the highest rating
available on unsecured  commercial paper and short-term debt  obligations  shall
mean A-1 in the case of Standard & Poor's,  P-1 in the case of  Moody's,  D-1 in
the case of DCR and  either A-1 by  Standard & Poor's,  P-1 by Moody's or F-1 by
Fitch IBCA in the case of Fitch IBCA.

     Permitted Transferee: Any Transferee of a Class R Certificate, other than a
Disqualified Organization or Non-United States Person.

      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.

      Pledged Asset  Mortgage  Servicing  Agreement:  The Pledged Asset Mortgage
Servicing  Agreement,  dated as of February 28, 1996 between MLCC and the Master
Servicer.

      Pool  Stated  Principal  Balance:  As to any  date of  determination,  the
aggregate of the Stated  Principal  Balances of each  Mortgage  Loan that was an
Outstanding  Mortgage  Loan on the Due Date in the month  preceding the month of
such date of determination.

      Pool Strip Rate:  With  respect to each  Mortgage  Loan,  a per annum rate
equal to the excess of (a) the Net Mortgage  Rate of such Mortgage Loan over (b)
6.75% (but not less than 0.00%) per annum.

      Prepayment  Assumption:  A prepayment assumption of 275% of the prepayment
speed  assumption,  used for  determining the accrual of original issue discount
and market  discount  and premium on the  Certificates  for  federal  income tax
purposes.  The prepayment speed assumption assumes a constant rate of prepayment
of mortgage loans of 0.2% per annum of the then outstanding principal balance of
such  mortgage  loans in the  first  month of the  life of the  mortgage  loans,
increasing by an additional  0.2% per annum in each  succeeding  month until the
thirtieth month,  and a constant 6% per annum rate of prepayment  thereafter for
the life of the mortgage loans.

      Prepayment Distribution Percentage:  With respect to any Distribution Date
and each  Class of Class M  Certificates  and  Class B  Certificates,  under the
applicable  circumstances set forth below, the respective  percentages set forth
below:

                    (i) For any Distribution Date prior to the Distribution Date
               in May 2004


                         23


<PAGE>





            (unless   the   Certificate   Principal   Balances   of  the  Senior
            Certificates,  other  than the  Class  A-P  Certificates,  have been
            reduced to zero), 0%.

                 (ii) For any Distribution Date on which any Class of Class M or
            Class B  Certificates  are  outstanding  not discussed in clause (i)
            above:

                              in the case of the  Class of Class M  Certificates
                        then outstanding with the lowest numerical  designation,
                        or in the event the Class M  Certificates  are no longer
                        outstanding,  the  Class  of Class B  Certificates  then
                        outstanding  with the lowest  numerical  designation and
                        each  other  Class of Class M  Certificates  and Class B
                        Certificates   for   which   the   related    Prepayment
                        Distribution  Trigger  has been  satisfied,  a fraction,
                        expressed as a percentage, the numerator of which is the
                        Certificate  Principal Balance of such Class immediately
                        prior to such date and the  denominator  of which is the
                        sum of the Certificate  Principal  Balances  immediately
                        prior  to  such  date  of  (1)  the  Class  of  Class  M
                        Certificates  then outstanding with the lowest numerical
                        designation,  or in the event  the Class M  Certificates
                        are  no  longer  outstanding,   the  Class  of  Class  B
                        Certificates  then outstanding with the lowest numerical
                        designation  and  (2)  all  other  Classes  of  Class  M
                        Certificates  and  Class B  Certificates  for  which the
                        respective  Prepayment  Distribution  Triggers have been
                        satisfied; and

                              in the  case  of  each  other  Class  of  Class  M
                        Certificates  and  Class B  Certificates  for  which the
                        Prepayment   Distribution   Triggers   have   not   been
                        satisfied, 0%; and

                 (iii) Notwithstanding the foregoing,  if the application of the
            foregoing  percentages  on any  Distribution  Date  as  provided  in
            Section  4.02  (determined  without  regard  to the  proviso  to the
            definition of  "Subordinate  Principal  Distribution  Amount") would
            result in a  distribution  in respect of  principal  of any Class or
            Classes  of Class M  Certificates  and  Class B  Certificates  in an
            amount  greater than the  remaining  Certificate  Principal  Balance
            thereof  (any  such  class,  a  "Maturing  Class"),  then:  (a)  the
            Prepayment  Distribution  Percentage of each Maturing Class shall be
            reduced to a level that,  when  applied as  described  above,  would
            exactly reduce the  Certificate  Principal  Balance of such Class to
            zero; (b) the Prepayment Distribution Percentage of each other Class
            of Class M Certificates and Class B Certificates  (any such Class, a
            "Non-Maturing  Class") shall be  recalculated in accordance with the
            provisions in paragraph (ii) above, as if the Certificate  Principal
            Balance  of each  Maturing  Class  had been  reduced  to zero  (such
            percentage as recalculated,  the "Recalculated Percentage"); (c) the
            total  amount  of  the  reductions  in the  Prepayment  Distribution
            Percentages of the Maturing Class or Classes  pursuant to clause (a)
            of this  sentence,  expressed as an aggregate  percentage,  shall be
            allocated  among the  Non-Maturing  Classes in  proportion  to their
            respective  Recalculated  Percentages (the portion of such aggregate
            reduction so allocated to any  Non-Maturing  Class,  the "Adjustment
            Percentage");  and (d) for purposes of such  Distribution  Date, the
            Prepayment Distribution Percentage of each Non-Maturing


                         24


<PAGE>





            Class shall be equal to the sum of (1) the  Prepayment  Distribution
            Percentage thereof,  calculated in accordance with the provisions in
            paragraph (ii) above as if the Certificate Principal Balance of each
            Maturing  Class had not been  reduced to zero,  plus (2) the related
            Adjustment Percentage.

      Prepayment  Distribution  Trigger:  The Class M-2 Prepayment  Distribution
Trigger,  Class M- 3  Prepayment  Distribution  Trigger,  Class  B-1  Prepayment
Distribution  Trigger,  Class B-2 Prepayment  Distribution  Trigger or Class B-3
Prepayment Distribution Trigger.

      Prepayment  Interest  Shortfall:  As to  any  Distribution  Date  and  any
Mortgage Loan (other than a Mortgage Loan relating to an REO Property)  that was
the subject of (a) a Principal  Prepayment in Full during the related Prepayment
Period,  an  amount  equal to the  excess  of one  month's  interest  at the Net
Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified  Mortgage
Loan) on the Stated  Principal  Balance of such Mortgage Loan over the amount of
interest  (adjusted to the Net Mortgage  Rate (or Modified Net Mortgage  Rate in
the case of a Modified Mortgage Loan)) paid by the Mortgagor for such Prepayment
Period to the date of such  Principal  Prepayment  in Full or (b) a  Curtailment
during the prior calendar month, an amount equal to one month's  interest at the
Net  Mortgage  Rate (or  Modified  Net  Mortgage  Rate in the case of a Modified
Mortgage Loan) on the amount of such Curtailment.

     Prepayment  Period:  As  to  any  Distribution  Date,  the  calendar  month
preceding the month of distribution.

     Primary  Insurance  Policy:   Each  primary  policy  of  mortgage  guaranty
insurance or any replacement policy therefor referred to in Section  2.03(b)(iv)
and (v).

      Principal  Prepayment:  Any payment of  principal  or other  recovery on a
Mortgage Loan,  including a recovery that takes the form of Liquidation Proceeds
or Insurance  Proceeds,  which is received in advance of its  scheduled Due Date
and is not  accompanied  by an  amount  as to  interest  representing  scheduled
interest  on such  payment  due on any  date or dates  in any  month  or  months
subsequent to the month of prepayment.

     Principal  Prepayment in Full: Any Principal Prepayment made by a Mortgagor
of the entire principal balance of a Mortgage Loan.

      Program Guide:  Collectively,  the Seller Guide and the Servicer Guide for
Residential  Funding's  mortgage loan purchase and conduit servicing program and
all supplements  and amendments  thereto  published by Residential  Funding from
time to time.

      Purchase  Price:  With  respect  to any  Mortgage  Loan (or REO  Property)
required to be or  otherwise  purchased  on any date  pursuant to Section  2.02,
2.03,  2.04 or  4.07,  an  amount  equal  to the sum of (i)  100% of the  Stated
Principal Balance thereof plus the principal portion of any related unreimbursed
Advances  and (ii) unpaid  accrued  interest at the Adjusted  Mortgage  Rate (or
Modified Net Mortgage Rate plus the rate per annum at which the Servicing Fee is
calculated in the case of a Modified Mortgage Loan) (or at the Net Mortgage Rate
(or Modified Net Mortgage Rate in the case of a Modified  Mortgage  Loan) in the
case of a purchase made by the Master Servicer) on the Stated Principal  Balance
thereof to the first day of the month following the month of purchase from


                         25


<PAGE>





the Due Date to which interest was last paid by the Mortgagor.

      Qualified  Substitute  Mortgage  Loan:  A  Mortgage  Loan  substituted  by
Residential  Funding or the Company for a Deleted  Mortgage  Loan which must, on
the  date  of  such  substitution,  as  confirmed  in an  Officers'  Certificate
delivered to the  Trustee,  (i) have an  outstanding  principal  balance,  after
deduction of the  principal  portion of the monthly  payment due in the month of
substitution  (or in the case of a  substitution  of more than one Mortgage Loan
for a Deleted Mortgage Loan, an aggregate outstanding  principal balance,  after
such deduction),  not in excess of the Stated  Principal  Balance of the Deleted
Mortgage  Loan (the  amount of any  shortfall  to be  deposited  by  Residential
Funding  in the  Custodial  Account in the month of  substitution);  (ii) have a
Mortgage  Rate and a Net  Mortgage  Rate no lower  than and not more than 1% per
annum higher than the Mortgage Rate and Net Mortgage Rate, respectively,  of the
Deleted Mortgage Loan as of the date of substitution; (iii) have a Loan-to-Value
Ratio at the time of  substitution  no higher than that of the Deleted  Mortgage
Loan at the time of substitution;  (iv) have a remaining term to stated maturity
not  greater  than (and not more than one year less  than)  that of the  Deleted
Mortgage  Loan;  (v) comply with each  representation  and warranty set forth in
Sections  2.03 and 2.04 hereof and Section 4 of the  Assignment  Agreement;  and
(vi)  have a Pool  Strip  Rate  equal to or  greater  than  that of the  Deleted
Mortgage Loan.  Notwithstanding any other provisions herein, (x) with respect to
any Qualified  Substitute  Mortgage Loan substituted for a Deleted Mortgage Loan
which was a Discount  Mortgage  Loan,  such Qualified  Substitute  Mortgage Loan
shall be deemed to be a Discount  Mortgage Loan and to have a Discount  Fraction
equal to the Discount Fraction of the Deleted Mortgage Loan and (y) in the event
that  the  "Pool  Strip  Rate"  of any  Qualified  Substitute  Mortgage  Loan as
calculated  pursuant to the  definition of "Pool Strip Rate" is greater than the
Pool Strip Rate of the related Deleted  Mortgage Loan (i) the Pool Strip Rate of
such Qualified Substitute Mortgage Loan shall be equal to the Pool Strip Rate of
the related Deleted  Mortgage Loan for purposes of calculating the  Pass-Through
Rate on the Class A-V Certificates and (ii) the excess of the Pool Strip Rate on
such Qualified Substitute Mortgage Loan as calculated pursuant to the definition
of "Pool Strip Rate" over the Pool Strip Rate on the  related  Deleted  Mortgage
Loan shall be  payable  to the Class R  Certificates  pursuant  to Section  4.02
hereof.

      Rating Agency: Standard & Poor's and Fitch IBCA with respect to the Senior
Certificates and Fitch IBCA with respect to the Class M-1, Class M-2, Class M-3,
Class B-1 and Class B-2  Certificates.  If either  agency or a  successor  is no
longer in existence,  "Rating  Agency" shall be such  statistical  credit rating
agency, or other comparable Person,  designated by the Company,  notice of which
designation shall be given to the Trustee and the Master Servicer.

      Realized Loss:  With respect to each Mortgage Loan (or REO Property) as to
which a Cash  Liquidation or REO Disposition  has occurred,  an amount (not less
than zero) equal to (i) the Stated  Principal  Balance of the Mortgage  Loan (or
REO Property) as of the date of Cash Liquidation or REO  Disposition,  plus (ii)
interest  (and REO Imputed  Interest,  if any) at the Net Mortgage Rate from the
Due Date as to which interest was last paid or advanced to Certificateholders up
to the last day of the month in which the Cash  Liquidation (or REO Disposition)
occurred on the Stated Principal Balance of such Mortgage Loan (or REO Property)
outstanding  during each Due Period that such interest was not paid or advanced,
minus (iii) the proceeds,  if any,  received during the month in which such Cash
Liquidation (or REO Disposition)  occurred,  to the extent applied as recoveries
of interest at the Net Mortgage Rate and to principal of the Mortgage  Loan, net
of the portion  thereof  reimbursable  to the Master Servicer or any Subservicer
with respect to related Advances or expenses


                         26


<PAGE>





as to which the Master  Servicer or  Subservicer  is  entitled to  reimbursement
thereunder but which have not been previously  reimbursed.  With respect to each
Mortgage Loan which is the subject of a Servicing  Modification,  (a) the amount
by which the interest  portion of a Monthly Payment or the principal  balance of
such  Mortgage  Loan was  reduced,  and (b) any such  amount  with  respect to a
Monthly  Payment  that  was or would  have  been  due in the  month  immediately
following  the month in which a Principal  Prepayment  or the Purchase  Price of
such Mortgage Loan is received or is deemed to have been received.  With respect
to each Mortgage Loan which has become the subject of a Deficient Valuation, the
difference  between  the  principal  balance of the  Mortgage  Loan  outstanding
immediately  prior to such Deficient  Valuation and the principal balance of the
Mortgage  Loan as  reduced  by the  Deficient  Valuation.  With  respect to each
Mortgage Loan which has become the object of a Debt Service Rduction, the amount
of such Debt Service Reduction.  Notwithstanding the above,  neither a Deficient
Valuation nor a Debt Service Reduction shall be deemed a Realized Loss hereunder
so long as the Master  Servicer  has  notified  the Trustee in writing  that the
Master Servicer is diligently pursuing any remedies that may exist in connection
with the representations and warranties made regarding the related Mortgage Loan
and either  (A) the  related  Mortgage  Loan is not in  default  with  regard to
payments due  thereunder  or (B)  delinquent  payments of principal and interest
under the  related  Mortgage  Loan and any  premiums on any  applicable  primary
hazard  insurance  policy and any  related  escrow  payments  in respect of such
Mortgage Loan are being advanced on a current basis by the Master  Servicer or a
Subservicer, in either case without giving effect to any Debt Service Reduction.

      Record Date: With respect to each Distribution Date, the close of business
on the last  Business  Day of the month  next  preceding  the month in which the
related Distribution Date occurs.


     Regular  Certificate:  Any  of  the  Certificates  other  than  a  Class  R
Certificate.

     REMIC: A "real estate  mortgage  investment  conduit" within the meaning of
Section 860D of the Code.

     REMIC  Administrator:   Residential  Funding  Corporation.  If  Residential
Funding  Corporation is found by a court of competent  jurisdiction to no longer
be able to fulfill its obligations as REMIC  Administrator  under this Agreement
the  Master  Servicer  or  Trustee  acting as Master  Servicer  shall  appoint a
successor REMIC Administrator,  subject to assumption of the REMIC Administrator
obligations under this Agreement.

     REMIC I: The  segregated  pool of  assets,  with  respect  to which a REMIC
election is to be made, consisting of:

                 (i)    the Mortgage Loans and the related Mortgage Files,

                 (ii) all payments on and collections in respect of the Mortgage
            Loans due  after  the  Cut-off  Date as shall be on  deposit  in the
            Custodial  Account or in the  Certificate  Account and identified as
            belonging  to the  Trust  Fund,  including  the  proceeds  from  the
            liquidation of Additional  Collateral for any Additional  Collateral
            Loan,  but not including  amounts on deposit in the Initial  Monthly
            Payment Fund;


                         27


<PAGE>





                 (iii) property which secured a Mortgage Loan and which has been
            acquired for the benefit of the Certificateholders by foreclosure or
            deed in lieu of foreclosure,

                 (iv)  the  hazard  insurance  policies  and  Primary  Insurance
            Policies, if any, and the interest in the Surety Bond transferred to
            the Trustee pursuant to Section 2.01, and

                 (v) all proceeds of clauses (i) through (iv) above.

      REMIC I Certificates:  The Class R-I Certificates.

      REMIC II: The segregated pool of assets  consisting of the  Uncertificated
REMIC I Regular  Interests  conveyed  in trust to the Trustee for the benefit of
the holders of the Class A-1,  Class A-2, Class A-3, Class A-4, Class A-5, Class
A-6,  Class A-7,  Class A-8,  Class A-P,  Class A-V, Class M-1, Class M-2, Class
M-3,  Class B-1, Class B-2,  Class B-3 and Class R-II  Certificates  pursuant to
Section 2.06, with respect to which a separate REMIC election is to be made.

      REMIC II  Certificates:  Any of the Class A-1, Class A-2, Class A-3, Class
A-4,  Class A-5,  Class A-6,  Class A-7,  Class A-8, Class A-P, Class A-V, Class
M-1,  Class  M-2,  Class M-3,  Class B- 1,  Class B-2,  Class B-3 and Class R-II
Certificates.

      REMIC  Provisions:  Provisions  of the federal  income tax law relating to
real estate mortgage investment conduits,  which appear at Sections 860A through
860G of  Subchapter  M of Chapter 1 of the Code,  and  related  provisions,  and
temporary and final  regulations (or, to the extent not  inconsistent  with such
temporary or final  regulations,  proposed  regulations) and published  rulings,
notices and  announcements  promulgated  thereunder,  as the foregoing may be in
effect from time to time.

      REO  Acquisition:  The acquisition by the Master Servicer on behalf of the
Trustee for the benefit of the  Certificateholders  of any REO Property pursuant
to Section 3.14.

      REO  Disposition:  As to any REO Property,  a determination  by the Master
Servicer that it has received all Insurance Proceeds,  Liquidation Proceeds, REO
Proceeds and other payments and recoveries  (including proceeds of a final sale)
which the Master  Servicer  expects to be finally  recoverable  from the sale or
other disposition of the REO Property.

      REO Imputed  Interest:  As to any REO Property,  for any period, an amount
equivalent to interest (at the Net Mortgage Rate that would have been applicable
to the related  Mortgage Loan had it been  outstanding) on the unpaid  principal
balance of the  Mortgage  Loan as of the date of  acquisition  thereof  for such
period.

      REO Proceeds:  Proceeds,  net of expenses,  received in respect of any REO
Property (including, without limitation, proceeds from the rental of the related
Mortgaged  Property  (or  with  respect  to  a  Cooperative  Loan,  the  related
Cooperative  Apartment))  which  proceeds are required to be deposited  into the
Custodial Account only upon the related REO Disposition.

      REO Property: A Mortgaged Property acquired by the Master Servicer through
foreclosure  or deed  in lieu of  foreclosure  in  connection  with a  defaulted
Mortgage Loan.


                         28


<PAGE>





      Request  for  Release:  A  request  for  release,  the  forms of which are
attached as Exhibit H hereto or an  electronic  request in a form  acceptable to
the Custodian.

      Required  Insurance  Policy:  With  respect  to  any  Mortgage  Loan,  any
insurance policy which is required to be maintained from time to time under this
Agreement, the Program Guide or the related Subservicing Agreement in respect of
such Mortgage Loan.

      Required  Surety  Payment:  With  respect  to  any  Additional  Collateral
Mortgage  Loan that becomes a Liquidated  Mortgage  Loan,  the lesser of (i) the
principal  portion of the Realized  Loss with respect to such  Mortgage Loan and
(ii) the excess, if any, of (a) the amount of Additional  Collateral required at
origination  with  respect  to such  Mortgage  Loan  over  (b) the net  proceeds
realized by MLCC from the related Additional Collateral.

     Residential   Funding:   Residential   Funding   Corporation,   a  Delaware
corporation,  in its capacity as seller of the Mortgage Loans to the Company and
any successor thereto.

      Responsible Officer: When used with respect to the Trustee, any officer of
the  Corporate  Trust  Department  of the  Trustee,  including  any Senior  Vice
President,  any Vice  President,  any Assistant  Vice  President,  any Assistant
Secretary, any Trust Officer or Assistant Trust Officer, or any other officer of
the Trustee customarily  performing  functions similar to those performed by any
of the above designated  officers to whom, with respect to a particular  matter,
such matter is referred.

      Schedule of Discount  Fractions:  The schedule  setting forth the Discount
Fractions  with  respect to the  Discount  Mortgage  Loans,  attached  hereto as
Exhibit P.

     Security  Agreement:  With respect to a  Cooperative  Loan,  the  agreement
creating  a  security  interest  in  favor  of the  originator  in  the  related
Cooperative Stock.

     Seller: As to any Mortgage Loan, a Person, including any Subservicer,  that
executed a Seller's Agreement applicable to such Mortgage Loan.

      Seller's Agreement:  An agreement for the origination and sale of Mortgage
Loans generally in the form of the Seller  Contract  referred to or contained in
the  Program  Guide,  or in such other form as has been  approved  by the Master
Servicer and the Company,  each  containing  representations  and  warranties in
respect of one or more Mortgage Loans.


                         29


<PAGE>





     Senior   Accelerated   Distribution   Percentage:   With   respect  to  any
Distribution Date, the percentage indicated below:

                               Senior Accelerated
          Distribution Date                     Distribution Percentage
           May 1999 through
              April 2004                                 100%
           May 2004 through               Senior Percentage, plus 70% of the
              April 2005                        Subordinate Percentage
           May 2005 through               Senior Percentage, plus 60% of the
              April 2006                        Subordinate Percentage
           May 2006 through               Senior Percentage, plus 40% of the
              April 2007                        Subordinate Percentage
           May 2007 through               Senior Percentage, plus 20% of the
              April 2008                        Subordinate Percentage
             May 2008 and
              thereafter                           Senior Percentage



provided,  however,  (i) that any scheduled  reduction to the Senior Accelerated
Distribution  Percentage  described above shall not occur as of any Distribution
Date unless either (a)(1)(X) the outstanding  principal  balance of the Mortgage
Loans  delinquent  60 days or more  averaged  over  the last  six  months,  as a
percentage of the aggregate  outstanding  Certificate  Principal  Balance of the
Class M  Certificates  and  Class B  Certificates,  is less  than 50% or (Y) the
outstanding  principal  balance of  Mortgage  Loans  delinquent  60 days or more
averaged over the last six months, as a percentage of the aggregate  outstanding
principal balance of all Mortgage Loans averaged over the last six months,  does
not exceed 2% and (2)  Realized  Losses on the  Mortgage  Loans to date for such
Distribution Date if occurring during the sixth, seventh, eighth, ninth or tenth
year (or any year  thereafter)  after the Closing  Date are less than 30%,  35%,
40%, 45% or 50%,  respectively,  of the sum of the Initial Certificate Principal
Balances  of the Class M  Certificates  and Class B  Certificates  or (b)(1) the
outstanding  principal  balance of  Mortgage  Loans  delinquent  60 days or more
averaged over the last six months, as a percentage of the aggregate  outstanding
principal balance of all Mortgage Loans averaged over the last six months,  does
not exceed 4% and (2)  Realized  Losses on the  Mortgage  Loans to date for such
Distribution  Date, if occurring  during the sixth,  seventh,  eighth,  ninth or
tenth year (or any year  thereafter)  are less than 10%,  15%,  20%, 25% or 30%,
respectively,  of the sum of the Initial  Certificate  Principal Balances of the
Class M Certificates and Class B Certificates and (ii) that for any Distribution
Date on  which  the  Senior  Percentage  is  greater  than the  Original  Senior
Percentage, the Senior Accelerated Distribution Percentage for such Distribution
Date shall be 100%.  Notwithstanding  the  foregoing,  upon the reduction of the
aggregate  Certificate  Principal Balance of the Senior Certificates (other than
the  Class  A-P  Certificates)  to zero,  the  Senior  Accelerated  Distribution
Percentage shall thereafter be 0%.

     Senior  Certificate:  Any  one of the  Class  A  Certificates  or  Class  R
Certificates.

     Senior  Percentage:  As of any Distribution  Date, the lesser of 100% and a
fraction,  expressed as a  percentage,  the  numerator of which is the aggregate
Certificate Principal Balance of the Senior


                         30


<PAGE>





Certificates  (other than the Class A-P Certificates)  immediately prior to such
Distribution Date and the denominator of which is the aggregate Stated Principal
Balance of all of the Mortgage Loans (or related REO Properties) (other than the
related Discount  Fraction of each Discount  Mortgage Loan) immediately prior to
such Distribution Date.

      Senior Principal  Distribution  Amount:  As to any Distribution  Date, the
lesser of (a) the balance of the Available  Distribution  Amount remaining after
the distribution of all amounts  required to be distributed  pursuant to Section
4.02(a)(i) and Section  4.02(a)(ii)(X)  or, after the Credit  Support  Depletion
Date, the amount required to be distributed to the Class A-P  Certificateholders
pursuant to Section 4.02(c) or (d) and (b) the sum of the amounts required to be
distributed to the Holders of the Senior  Certificates (other than the Class A-P
Certificates)  on such  Distribution  Date  pursuant to Section  4.02(a)(ii)(Y),
(xvi) and (xvii).

     Servicing Accounts: The account or accounts created and maintained pursuant
to Section 3.08.

      Servicing  Advances:  All  customary,  reasonable  and  necessary  "out of
pocket" costs and expenses incurred in connection with a default, delinquency or
other  unanticipated  event by the Master  Servicer  in the  performance  of its
servicing  obligations,  including,  but not  limited  to,  the  cost of (i) the
preservation,  restoration  and  protection  of a  Mortgaged  Property  or, with
respect to a  Cooperative  Loan,  the related  Cooperative  Apartment,  (ii) any
enforcement  or  judicial  proceedings,   including   foreclosures,   (iii)  the
management  and  liquidation  of any REO Property and (iv)  compliance  with the
obligations  under  Sections 3.01,  3.08,  3.12(a) and 3.14,  including,  if the
Master Servicer or any Affiliate of the Master Servicer  provides  services such
as appraisals and brokerage  services that are  customarily  provided by Persons
other  than  servicers  of  mortgage  loans,  reasonable  compensation  for such
services.

      Servicing  Fee: With respect to any Mortgage Loan and  Distribution  Date,
the fee payable  monthly to the Master  Servicer in respect of master  servicing
compensation  that accrues at an annual rate  designated  on the  Mortgage  Loan
Schedule as the "MSTR SERV FEE" for such Mortgage  Loan, as may be adjusted with
respect to successor Master Servicers as provided in Section 7.02.

      Servicing  Modification:  Any  reduction  of the  interest  rate on or the
outstanding  principal  balance of a Mortgage  Loan that is in  default,  or for
which,  in  the  judgment  of  the  Master   Servicer,   default  is  reasonably
foreseeable, pursuant to a modification of such Mortgage Loan in accordance with
Section 3.07(a).

      Servicing  Officer:  Any officer of the Master  Servicer  involved  in, or
responsible  for, the  administration  and servicing of the Mortgage Loans whose
name and specimen  signature appear on a list of servicing officers furnished to
the  Trustee  by the  Master  Servicer,  as such  list may from  time to time be
amended.

      Special Hazard  Amount:  As of any  Distribution  Date, an amount equal to
$5,641,610  minus the sum of (i) the aggregate  amount of Special  Hazard Losses
allocated  solely to one or more specific  Classes of Certificates in accordance
with  Section  4.05 and (ii) the  Adjustment  Amount (as defined  below) as most
recently  calculated.  For each  anniversary of the Cut-off Date, the Adjustment
Amount shall be equal to the amount,  if any, by which the amount  calculated in
accordance with the


                         31


<PAGE>





preceding  sentence  (without  giving effect to the deduction of the  Adjustment
Amount for such  anniversary)  exceeds  the  greater of (A) the  greatest of (i)
twice the outstanding  principal  balance of the Mortgage Loan in the Trust Fund
which has the largest  outstanding  principal  balance on the Distribution  Date
immediately preceding such anniversary,  (ii) the product of 1.00% multiplied by
the outstanding principal balance of all Mortgage Loans on the Distribution Date
immediately  preceding  such  anniversary  and (iii) the  aggregate  outstanding
principal  balance (as of the immediately  preceding  Distribution  Date) of the
Mortgage  Loans in any  single  five-digit  California  zip code  area  with the
largest  amount of  Mortgage  Loans by  aggregate  principal  balance as of such
anniversary  and (B) the greater of (i) the product of 0.50%  multiplied  by the
outstanding  principal  balance of all Mortgage Loans on the  Distribution  Date
immediately preceding such anniversary  multiplied by a fraction,  the numerator
of which is equal to the  aggregate  outstanding  principal  balance  (as of the
immediately preceding Distribution Date) of all of the Mortgage Loans secured by
Mortgaged Properties located in the State of California divided by the aggregate
outstanding  principal  balance (as of the  immediately  preceding  Distribution
Date)  of all  of  the  Mortgage  Loans,  expressed  as a  percentage,  and  the
denominator  of  which  is equal to  46.04%  (which  percentage  is equal to the
percentage of Mortgage Loans initially secured by Mortgaged  Properties  located
in the State of California) and (ii) the aggregate outstanding principal balance
(as of the immediately preceding Distribution Date) of the largest Mortgage Loan
secured by a Mortgaged  Property (or, with respect to a  Cooperative  Loan,  the
related Cooperative Apartment) located in the State of California.

      The Special  Hazard Amount may be further  reduced by the Master  Servicer
(including  accelerating the manner in which coverage is reduced)  provided that
prior to any such  reduction,  the  Master  Servicer  shall (i)  obtain  written
confirmation  from each Rating Agency that such  reduction  shall not reduce the
rating  assigned to any Class of  Certificates  by such Rating  Agency below the
lower of the then-current  rating or the rating assigned to such Certificates as
of the  Closing  Date by such  Rating  Agency  and (ii)  provide  a copy of such
written confirmation to the Trustee.

      Special  Hazard Loss:  Any Realized  Loss not in excess of the cost of the
lesser of repair or replacement  of a Mortgaged  Property (or, with respect to a
Cooperative Loan, the related Cooperative  Apartment) suffered by such Mortgaged
Property  (or  Cooperative  Apartment)  on  account  of  direct  physical  loss,
exclusive  of (i) any  loss of a type  covered  by a  hazard  policy  or a flood
insurance policy required to be maintained in respect of such Mortgaged Property
pursuant  to Section  3.12(a),  except to the extent of the portion of such loss
not covered as a result of any coinsurance  provision and (ii) any Extraordinary
Loss.

      Standard  & Poor's:  Standard  & Poor's,  a  division  of The  McGraw-Hill
Companies, Inc., or its successor in interest.

      Stated Principal Balance: With respect to any Mortgage Loan or related REO
Property,  at any given time,  (i) the  Cut-off  Date  Principal  Balance of the
Mortgage  Loan,  minus (ii) the sum of (a) the principal  portion of the Monthly
Payments due with respect to such Mortgage Loan or REO Property  during each Due
Period ending prior to the most recent  Distribution Date which were received or
with  respect to which an Advance was made,  and (b) all  Principal  Prepayments
with respect to such Mortgage Loan or REO Property,  and all Insurance Proceeds,
Liquidation  Proceeds  and REO  Proceeds,  to the  extent  applied by the Master
Servicer as recoveries of principal in accordance with Section 3.14 with respect
to such  Mortgage  Loan or REO  Property,  in each case which  were  distributed
pursuant to Section 4.02 on any previous Distribution Date, and (c) any


                         32


<PAGE>





Realized  Loss  allocated to  Certificateholders  with  respect  thereto for any
previous Distribution Date.

      Subclass: With respect to the Class A-V Certificates, any Subclass thereof
issued  pursuant  to Section  5.01(c).  Any such  Subclass  will  represent  the
Uncertificated  REMIC II Regular Interest or Interests  specified by the initial
Holder of the Class A-V Certificates pursuant to Section 5.01(c).

     Subordinate Percentage:  As of any Distribution Date, 100% minus the Senior
Percentage as of such Distribution Date.

      Subordinate   Principal   Distribution   Amount:   With   respect  to  any
Distribution   Date  and  each  Class  of  Class  M  Certificates  and  Class  B
Certificates,  (a)  the  sum of (i)  the  product  of (x)  the  related  Class M
Percentage  or Class B  Percentage  for such Class and (y) the  aggregate of the
amounts  calculated for such Distribution Date under clauses (1), (2) and (3) of
Section  4.02(a)(ii)(Y)(A);  (ii)  such  Class's  pro rata  share,  based on the
Certificate  Principal Balance of each Class of Class M Certificates and Class B
Certificates then outstanding, of the principal collections described in Section
4.02(a)(ii)(Y)(B)(b)   to  the  extent  such   collections   are  not  otherwise
distributed  to the Senior  Certificates;  (iii) the  product of (x) the related
Prepayment  Distribution  Percentage  and (y)  the  aggregate  of all  Principal
Prepayments in Full and Curtailments  received in the related  Prepayment Period
(other than the related Discount Fraction of such Principal  Prepayments in Full
and  Curtailments  with respect to a Discount  Mortgage  Loan) to the extent not
payable to the Senior Certificates;  (iv) if such Class is the most senior Class
of Certificates  then  outstanding (as established in Section 4.05 hereof),  any
Excess  Subordinate  Principal  Amount for such  Distribution  Date; and (v) any
amounts  described in clauses (i), (ii) and (iii) as determined for any previous
Distribution Date, that remain undistributed to the extent that such amounts are
not  attributable  to Realized Losses which have been allocated to a subordinate
Class  of Class M or  Class B  Certificates  minus  (b) any  Excess  Subordinate
Principal Amount not payable to such Class on such Distribution Date pursuant to
the definition thereof;  provided,  however,  that such amount shall in no event
exceed  the  outstanding   Certificate   Principal  Balance  of  such  Class  of
Certificates immediately prior to such date.

     Subserviced Mortgage Loan: Any Mortgage Loan that, at the time of reference
thereto, is subject to a Subservicing Agreement.

      Subservicer:  Any Person with whom the Master  Servicer has entered into a
Subservicing Agreement and who generally satisfied the requirements set forth in
the Program Guide in respect of the  qualification  of a  Subservicer  as of the
date of its approval as a Subservicer by the Master Servicer.

      Subservicer Advance: Any delinquent  installment of principal and interest
on a Mortgage  Loan which is  advanced by the  related  Subservicer  (net of its
Subservicing Fee) pursuant to the Subservicing Agreement.

     Subservicing Account: An account established by a Subservicer in accordance
with Section 3.08.

     Subservicing  Agreement:  The written  contract between the Master Servicer
and any Subservicer relating to servicing and administration of certain Mortgage
Loans as provided in


                         33


<PAGE>





Section  3.02,  generally  in the form of the servicer  contract  referred to or
contained in the Program Guide or in such other form as has been approved by the
Master Servicer and the Company.  With respect to Mortgage Loans  subserviced by
MLCC, the Subservicing  Agreement shall also include the Addendum and Assignment
Agreement and the Pledged Asset Mortgage Servicing Agreement.

      Subservicing  Fee: As to any Mortgage Loan, the fee payable monthly to the
related  Subservicer (or, in the case of a Nonsubserviced  Mortgage Loan, to the
Master Servicer) in respect of subservicing and other  compensation that accrues
at an annual rate equal to the excess of the Mortgage  Rate borne by the related
Mortgage  Note over the rate per annum  designated on the Mortgage Loan Schedule
as the "CURR NET" for such Mortgage Loan.

      Surety:  Ambac Assurance Corporation, or its successors in interest.

      Surety Bond: The Limited Purpose Surety Bond (Policy No. AB0039BE),  dated
February 28, 1996,  issued by Ambac  Assurance  Corporation  (formerly  known as
AMBAC Indemnity Corporation) for the benefit of certain beneficiaries, including
the Trustee for the benefit of the Holders of the Certificates,  but only to the
extent that such Limited  Purpose Surety Bond covers any  Additional  Collateral
Mortgage Loans.

      Tax Returns:  The federal  income tax return on Internal  Revenue  Service
Form 1066,  U.S.  Real Estate  Mortgage  Investment  Conduit  Income Tax Return,
including  Schedule Q thereto,  Quarterly Notice to Residual Interest Holders of
REMIC Taxable Income or Net Loss Allocation, or any successor forms, to be filed
on behalf of REMIC I and REMIC II due to their  classification  as REMICs  under
the REMIC Provisions,  together with any and all other  information,  reports or
returns that may be required to be furnished to the  Certificateholders or filed
with the Internal  Revenue Service or any other  governmental  taxing  authority
under any applicable provisions of federal, state or local tax laws.

     Transfer: Any direct or indirect transfer,  sale, pledge,  hypothecation or
other form of assignment of any Ownership Interest in a Certificate.

     Transferee:  Any Person who is acquiring by Transfer any Ownership Interest
in a Certificate.

     Transferor:  Any Person  who is  disposing  by  Transfer  of any  Ownership
Interest in a Certificate.

      Trust Fund:  REMIC I and REMIC II.

      Uncertificated  Accrued Interest:  With respect to each Distribution Date,
(i) as to  Uncertificated  REMIC I Regular  Interest  W, an amount  equal to the
aggregate  amount of Accrued  Certificate  Interest  that would result under the
terms  of  the  definition   thereof  on  the  Class  A-4  Certificates  if  the
Pass-Through  Rate on such Class were equal to the  Uncertificated  Pass-Through
Rate on  Uncertificated  REMIC I Regular  Interest W, (ii) as to  Uncertificated
REMIC I Regular  Interest X, an amount equal to the aggregate  amount of Accrued
Certificate Interest that would result under the terms of the definition thereof
on the Class A-P Certificates if the Pass-Through  Rate on such Class were equal
to the  Uncertificated  Pass-Through  Rate on  Uncertificated  REMIC  I  Regular
Interest  X, (iii) as to  Uncertificated  REMIC I Regular  Interest Y, an amount
equal to the aggregate


                         34


<PAGE>





amount of Accrued Certificate  Interest that would result under the terms of the
definition thereof on the Class A-1, Class A-2, Class A-3, Class A-5, Class A-7,
Class A-8,  Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and
Class R-II Certificates if the Pass-Through  Rates on such Classes were equal to
the Uncertificated  Pass-Through Rate on Uncertificated REMIC I Regular Interest
Y and  (iv) as to  each  Uncertificated  REMIC I  Regular  Interest  Z and  each
Uncertificated  REMIC II  Regular  Interest,  an  amount  equal  to one  month's
interest at the Pool Strip Rate of the related  Mortgage  Loan on the  principal
balance of such Mortgage Loan reduced by such  Interest's  pro-rata share of any
prepayment  interest shortfalls or other reductions of interest allocable to the
Class A-V Certificates.

      Uncertificated   Pass-Through   Rate:   With   respect   to  each  of  the
Uncertificated  REMIC I Regular  Interests  W, X and Y, 6.75%,  0.00% and 6.75%,
respectively. With respect to each Uncertificated REMIC I Regular Interest Z and
each  Uncertificated  REMIC II Regular  Interest  Z, the Pool Strip Rate for the
related Mortgage Loan.

      Uncertificated  Principal  Balance:  With  respect to each  Uncertificated
REMIC I  Regular  Interest  on any date of  determination,  an  amount  equal to
$50,977,000.00  with  respect  to  Uncertificated  REMIC I Regular  Interest  W,
$4,961,920.30  with  respect  to  Uncertificated  REMIC I  Regular  Interest  X,
$469,826,778.88 with respect to Uncertificated REMIC I Regular Interest Y and $0
with respect to Uncertificated REMIC I Regular Interest Z, minus (ii) the sum of
(x) the aggregate of all amounts  previously deemed  distributed with respect to
such interest and applied to reduce the Uncertificated Principal Balance thereof
pursuant to Section  4.09(a)(ii)  and (y) the  aggregate  of all  reductions  in
Certificate  Principal  Balance  deemed  to have  occurred  in  connection  with
Realized  Losses that were  previously  deemed  allocated to the  Uncertificated
Principal  Balance of such  Uncertificated  REMIC I Regular Interest pursuant to
Section 4.09(d).

      Uncertificated  REMIC I  Regular  Interest  W: An  uncertificated  partial
undivided  beneficial  ownership  interest in REMIC I having a principal balance
equal to the Stated  Principal  Balance of the  Mortgage  Loans and REO Property
from  time to time  multiplied  by a  fraction,  the  numerator  of which is the
aggregate  Certificate  Principal  Balance of the Class A-4 Certificates and the
denominator of which is the aggregate  Certificate  Principal  Balance of all of
the Certificates, and which bears interest at a rate equal to 6.75% per annum.

      Uncertificated  REMIC I  Regular  Interest  X: An  uncertificated  partial
undivided  beneficial  ownership  interest in REMIC I having a principal balance
equal to the Stated  Principal  Balance of the  Mortgage  Loans and REO Property
from  time to time  multiplied  by a  fraction,  the  numerator  of which is the
aggregate  Certificate  Principal  Balance of the Class A-P Certificates and the
denominator of which is the aggregate  Certificate  Principal  Balance of all of
the Certificates, and which bears interest at a rate equal to 0.00% per annum.

      Uncertificated  REMIC I  Regular  Interest  Y: An  uncertificated  partial
undivided  beneficial  ownership  interest in REMIC I having a principal balance
equal to the Stated  Principal  Balance of the  Mortgage  Loans and REO Property
from  time to time  multiplied  by a  fraction,  the  numerator  of which is the
aggregate  Certificate Principal Balance of the Class A-1, Class A-2, Class A-3,
Class A-5,  Class A-7,  Class A-8,  Class M-1,  Class M-2, Class M-3, Class B-1,
Class B-2, Class B-3 and Class R-II Certificates and the denominator of which is
the aggregate  Certificate  Principal  Balance of all of the  Certificates,  and
which bears interest at a rate equal to 6.75% per annum.


                         35


<PAGE>





      Uncertificated  REMIC I  Regular  Interests  Z: The  1,646  uncertificated
partial  undivided   beneficial   ownership   interests  in  REMIC  I,  numbered
sequentially  from 1 to 1,646,  each  relating to the  particular  Mortgage Loan
identified by such sequential number on the Mortgage Loan Schedule,  each having
no principal  balance,  and each bearing  interest at the respective  Pool Strip
Rate on the Stated Principal Balance of the related Mortgage Loan.

      Uncertificated  REMIC I Regular Interests:  Uncertificated REMIC I Regular
Interest W, Uncertificated  REMIC I Regular Interest X,  Uncertificated  REMIC I
Regular Interest Y and Uncertificated REMIC I Regular Interests Z.

      Uncertificated  REMIC I  Regular  Interest  W  Distribution  Amount:  With
respect  to  any  Distribution  Date,  the  sum  of  the  amounts  deemed  to be
distributed  on  the  Uncertificated   REMIC  I  Regular  Interest  W  for  such
Distribution Date pursuant to Section 4.09(a).

      Uncertificated  REMIC I  Regular  Interest  X  Distribution  Amount:  With
respect  to  any  Distribution  Date,  the  sum  of  the  amounts  deemed  to be
distributed  on  the  Uncertificated   REMIC  I  Regular  Interest  X  for  such
Distribution Date pursuant to Section 4.09(a).

      Uncertificated  REMIC I  Regular  Interest  Y  Distribution  Amount:  With
respect  to  any  Distribution  Date,  the  sum  of  the  amounts  deemed  to be
distributed  on  the  Uncertificated   REMIC  I  Regular  Interest  Y  for  such
Distribution Date pursuant to Section 4.09(a).

      Uncertificated  REMIC I Regular  Interests  Z  Distribution  Amount:  With
respect  to  any  Distribution  Date,  the  sum  of  the  amounts  deemed  to be
distributed  on  the  Uncertificated  REMIC  I  Regular  Interests  Z  for  such
Distribution Date pursuant to Section 4.09(a).

      Uncertificated  REMIC  I  Regular  Interest   Distribution   Amounts:  The
Uncertificated  REMIC I Regular Interest W Distribution  Amount,  Uncertificated
REMIC I Regular Interest X Distribution  Amount,  Uncertificated REMIC I Regular
Interest Y Distribution  Amount and  Uncertificated  REMIC I Regular Interests Z
Distribution Amount.

      Uncertificated  REMIC  II  Regular  Interests:  The  1,646  Uncertificated
partial  undivided   beneficial   ownership   interests  in  REMIC  II  numbered
sequentially  from 1 through  1,646 each  relating to the  identically  numbered
Uncertificated REMIC I Regular Interests Z, each having no principal balance and
bearing  interest at a rate equal to the  related  Pool Strip Rate on the Stated
Principal  Balance of the  Mortgage  Loan  related to the  identically  numbered
Uncertificated REMIC I Regular Interests Z, comprising such Uncertificated REMIC
II  Regular  Interest's  pro rata share of the amount  distributed  pursuant  to
Sections 4.02(a) and (b).

      Uncertificated  REMIC  II  Regular  Interests  Distribution  Amount:  With
respect  to  any  Distribution  Date,  the  sum  of  the  amounts  deemed  to be
distributed  on  the  Uncertificated  REMIC  I  Regular  Interests  Z  for  such
Distribution Date pursuant to Section 4.09(a).

      Uniform  Single  Attestation  Program for  Mortgage  Bankers:  The Uniform
Single  Attestation  Program for Mortgage Bankers,  as published by the Mortgage
Bankers  Association  of America and  effective  with respect to fiscal  periods
ending on or after December 15, 1995.

     Uninsured Cause: Any cause of damage to property subject to a Mortgage such
that the


                         36


<PAGE>





     complete  restoration  of such  property is not fully  reimbursable  by the
     hazard insurance policies.

      United  States  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
(except  in the  case of a  partnership,  to the  extent  provided  in  Treasury
regulations)  or  any  political  subdivision  thereof,  or an  estate  that  is
described in Section 7701(a)(30)(D) of the Code, or a trust that is described in
Section 7701(a)(30)(E) of the Code.

      Voting Rights: The portion of the voting rights of all of the Certificates
which is  allocated  to any  Certificate.  97.0% of all Voting  Rights  shall be
allocated among all Holders of Certificates, other than the Class A-6, Class A-V
and Class R Certificates, in proportion to the outstanding Certificate Principal
Balances of their  respective  Certificates.  1.0% of all Voting Rights shall be
allocated  among the Holders of the Class A-6  Certificates,  1.0% of all Voting
Rights shall be allocated among the Holders of the Class A-V  Certificates,  and
0.5% of all Voting  Rights shall be  allocated  among the Holders of each of the
Class R-I Certificates and Class R-II  Certificates,  in each case in proportion
to the Percentage Interests of their respective Certificates.



ARTICLE II

                        CONVEYANCE OF MORTGAGE LOANS;
                      ORIGINAL ISSUANCE OF CERTIFICATES

     SECTION 2.01.   Conveyance of Mortgage Loans.

           (a) The Company, concurrently with the execution and delivery hereof,
      does hereby assign to the Trustee  without  recourse all the right,  title
      and interest of the Company in and to the Mortgage  Loans,  including  all
      interest and principal  received on or with respect to the Mortgage  Loans
      after the Cut-off Date (other than  payments of principal and interest due
      on the Mortgage Loans on or before the Cut-off Date).

           (b) In  connection  with  such  assignment,  except  as set  forth in
      Section  2.01(c)  below,  the Company does hereby  deliver to, and deposit
      with,  the  Trustee,  or to and with one or more  Custodians,  as the duly
      appointed  agent or agents of the Trustee for such purpose,  the following
      documents or instruments  (or copies thereof as permitted by this Section)
      (I)  with  respect  to  each  Mortgage  Loan  so  assigned  (other  than a
      Cooperative Loan):

                 (i) The original  Mortgage Note,  endorsed  without recourse to
            the  order  of  the  Trustee  and  showing  an  unbroken   chain  of
            endorsements from the originator  thereof to the Person endorsing it
            to the Trustee,  or with respect to any Destroyed  Mortgage Note, an
            original lost note  affidavit from the related Seller or Residential
            Funding stating that the original Mortgage Note was lost,  misplaced
            or destroyed, together with a copy of the related Mortgage Note;

                 (ii) The original Mortgage with evidence of recording indicated
            thereon or a copy of the Mortgage  certified by the public recording
            office in which such Mortgage has been recorded;


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<PAGE>





                 (iii) An  original  Assignment  of the  Mortgage to the Trustee
            with  evidence  of  recording  indicated  thereon  or a copy of such
            assignment  certified by the public  recording  office in which such
            assignment has been recorded;

                 (iv) The original  recorded  assignment or  assignments  of the
            Mortgage  showing an  unbroken  chain of title  from the  originator
            thereof to the Person  assigning it to the Trustee or a copy of such
            assignment or  assignments  of the Mortgage  certified by the public
            recording  office in which such assignment or assignments  have been
            recorded; and

                 (v) The original of each modification,  assumption agreement or
            preferred loan agreement,  if any, relating to such Mortgage Loan or
            a copy of each modification,  assumption agreement or preferred loan
            agreement  certified  by the public  recording  office in which such
            document has been recorded.

and (II) with respect to each Cooperative Loan so assigned:

                 (i) The original  Mortgage Note,  endorsed  without recourse to
            the  order  of  the  Trustee  and  showing  an  unbroken   chain  of
            endorsements from the originator  thereof to the Person endorsing it
            to the Trustee,  or with respect to any Destroyed  Mortgage Note, an
            original lost note  affidavit from the related Seller or Residential
            Funding 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


                         38


<PAGE>





            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) The original of each modification, assumption agreement or
            preferred loan agreement, if any, relating to such Cooperative Loan;
            and

                 (x) An executed UCC-1  financing  statement  showing the Master
            Servicer as debtor,  the Company as secured party and the Trustee as
            assignee  and 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.

           (c) The Company may, in lieu of delivering the documents set forth in
      Section 2.01(b)(I)(iv) and (v) and Section (b)(II)(ii),  (iv), (vii), (ix)
      and (x) to the  Trustee  or the  Custodian  or  Custodians,  deliver  such
      documents to the Master Servicer,  and the Master Servicer shall hold such
      documents  in trust for the use and  benefit  of all  present  and  future
      Certificateholders  until  such time as is set  forth  below.  Within  ten
      Business Days  following the earlier of (i) the receipt of the original of
      each of the documents or instruments  set forth in Section  2.01(b)(I)(iv)
      and (v) and  Section  (b)(II)(ii),  (iv),  (vii),  (ix) and (x) (or copies
      thereof as  permitted by such  Section)  for any Mortgage  Loan and (ii) a
      written  request by the Trustee to deliver those documents with respect to
      any or all of the Mortgage  Loans then being held by the Master  Servicer,
      the Master  Servicer shall deliver a complete set of such documents to the
      Trustee or the Custodian or Custodians  that are the duly appointed  agent
      or agents of the Trustee.

                  On the Closing Date, the Master Servicer shall certify that it
      has in its  possession  an  original  or copy  of  each  of the  documents
      referred to in Section  2.01(b)(I)(iv)  and (v) and  Section  (b)(II)(ii),
      (iv),  (vii),  (ix) and (x) which has been delivered to it by the Company.
      Every  six  months  after  the  Closing  Date,  for so long as the  Master
      Servicer is holding documents pursuant to this Section 2.01(c), the Master
      Servicer shall deliver to (i) Moody's if it is one of the Rating Agencies,
      (ii) the  Trustee  and (iii) each  Custodian  a report  setting  forth the
      status of the  documents  which it is  holding  pursuant  to this  Section
      2.01(c).

           (d) In the  event  that in  connection  with  any  Mortgage  Loan the
      Company  cannot  deliver  the  Mortgage,  any  assignment,   modification,
      assumption   agreement  or  preferred  loan  agreement  (or  copy  thereof
      certified  by the public  recording  office)  with  evidence of  recording
      thereon  concurrently  with the execution  and delivery of this  Agreement
      solely because of a delay caused by the public recording office where such
      Mortgage, assignment, modification, assumption agreement or preferred loan
      agreement  as the case may be, has been  delivered  for  recordation,  the
      Company  shall  deliver  or cause to be  delivered  to the  Trustee or the
      respective  Custodian  a true  and  correct  photocopy  of such  Mortgage,
      assignment,   modification,   assumption   agreement  or  preferred   loan
      agreement.

                  The  Company  shall  promptly  cause  to be  recorded  in  the
      appropriate  public  office  for  real  property  records  the  Assignment
      referred to in clause (I)(iii) of Section 2.01(b), except in states where,
      in the opinion of counsel acceptable to the Trustee and the Master


                         39


<PAGE>





      Servicer,  such  recording  is  not  required  to  protect  the  Trustee's
      interests  in the  Mortgage  Loan  against  the  claim  of any  subsequent
      transferee  or  any  successor  to or  creditor  of  the  Company  or  the
      originator of such Mortgage Loan and shall  promptly cause to be filed the
      Form UCC-3 assignment and UCC-1 financing  statement referred to in clause
      (II)(vii) and (x),  respectively,  of Section 2.01(b).  If any Assignment,
      Form UCC-3 or Form UCC-1, as applicable, is lost or returned unrecorded to
      the Company  because of any defect  therein,  the Company  shall prepare a
      substitute  Assignment,  Form UCC-3 or Form UCC-1, as applicable,  or cure
      such defect,  as the case may be, and cause such Assignment to be recorded
      in accordance with this paragraph.  The Company shall promptly  deliver or
      cause to be  delivered  to the Trustee or the  respective  Custodian  such
      Mortgage or Assignment  or Form UCC-3 or Form UCC-1,  as  applicable,  (or
      copy thereof  certified by the public  recording  office) with evidence of
      recording indicated thereon upon receipt thereof from the public recording
      office or from the related  Subservicer.  In connection with its servicing
      of  Cooperative  Loans,  the Master  Servicer will use its best efforts to
      file  timely  continuation   statements  with  regard  to  each  financing
      statement and  assignment  relating to  Cooperative  Loans as to which the
      related Cooperative Apartment is located outside of the State of New York.

                  In the event  that the  Company  delivers  to the  Trustee  or
      Custodian  any  Mortgage  Note or  Assignment  of Mortgage  in blank,  the
      Company shall,  or shall cause the Custodian to,  complete the endorsement
      of the  Mortgage  Note and the  Assignment  of Mortgage in the name of the
      Trustee within 45 days after the Closing Date, as  contemplated by Section
      2.02.

                  Any of the items set forth in Sections  2.01(b)(I)(iv) and (v)
      and (II)(vi) and (vii) and that may be delivered as a copy rather than the
      original may be delivered in microfiche form.

           (e)  Residential  Funding  hereby assigns to the Trustee its security
      interest  in  and to any  Additional  Collateral,  its  right  to  receive
      payments  in respect  of any  Additional  Collateral  Loans  pursuant  the
      Addendum and Assignment Agreement and the Pledged Asset Mortgage Servicing
      Agreement,  and its rights as beneficiary under the Surety Bond in respect
      of any  Additional  Collateral  Loans.  With  respect  to  any  Additional
      Collateral  Mortgage Loan,  Residential Funding shall cause to be filed in
      the appropriate  recording  office a UCC-3 statement  giving notice of the
      assignment  of the related  security  interest to the Trust Fund and shall
      thereafter   cause  the  timely  filing  of  all  necessary   continuation
      statements with regard to such financing statements.

           (f) It is intended that the  conveyance by the Company to the Trustee
      of the  Mortgage  Loans  as  provided  for in this  Section  2.01  and the
      Uncertificated  REMIC I Regular  Interests as provided for in Section 2.06
      be,  and be  construed  as a sale by the  Company  to the  Trustee  of the
      Mortgage Loans and the  Uncertificated  REMIC I Regular  Interests for the
      benefit of the  Certificateholders.  Further, it is not intended that such
      conveyance  be  deemed  to be a  pledge  of the  Mortgage  Loans  and  the
      Uncertificated  REMIC I Regular Interests by the Company to the Trustee to
      secure a debt or other  obligation of the Company.  However,  in the event
      that the Mortgage Loans and the  Uncertificated  REMIC I Regular Interests
      are held to be property of the Company or of  Residential  Funding,  or if
      for any reason this


                         40


<PAGE>





      Agreement is held or deemed to create a security  interest in the Mortgage
      Loans  and  the  Uncertificated  REMIC  I  Regular  Interests,  then it is
      intended  that (a) this  Agreement  shall  also be deemed to be a security
      agreement  within the meaning of Articles 8 and 9 of the New York  Uniform
      Commercial Code and the Uniform  Commercial  Code of any other  applicable
      jurisdiction;  (b) the  conveyance  provided  for in Section 2.01 shall be
      deemed  to be (1) a grant by the  Company  to the  Trustee  of a  security
      interest  in all of the  Company's  right  (including  the power to convey
      title  thereto),  title  and  interest,  whether  now  owned or  hereafter
      acquired, in and to (A) the Mortgage Loans,  including (i) with respect to
      each  Cooperative  Loan, the related  Mortgage Note,  Security  Agreement,
      Assignment  of   Proprietary   Lease,   Cooperative   Stock   Certificate,
      Cooperative  Lease, any insurance  policies and all other documents in the
      related  Mortgage  File and (ii) with respect to each  Mortgage Loan other
      than a Cooperative  Loan, the related  Mortgage  Note,  the Mortgage,  any
      insurance  policies and all other documents in the related  Mortgage File,
      (B) all amounts payable  pursuant to the Mortgage Loans in accordance with
      the terms thereof,  (C) the  Uncertificated  REMIC I Regular Interests and
      (D) any and all general intangibles accounts,  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 foregoing,  and all proceeds of
      the  conversion,  voluntary or  involuntary,  of the foregoing  into cash,
      instruments,  securities or other property,  including without  limitation
      all amounts from time to time held or invested in the Certificate  Account
      or the  Custodial  Account,  whether  in the  form of  cash,  instruments,
      securities  or other  property and (2) an assignment by the Company to the
      Trustee of any security  interest in any and all of Residential  Funding's
      right  (including the power to convey title thereto),  title and interest,
      whether now owned or hereafter acquired,  in and to the property described
      in the foregoing  clauses (1)(A),  (B), (C) and (D) granted by Residential
      Funding to the  Company  pursuant  to the  Assignment  Agreement;  (c) the
      possession by the Trustee, the Custodian or any other agent of the Trustee
      of  Mortgage   Notes  or  such  other  items  of  property  as  constitute
      instruments,  money,  negotiable  documents,  goods,  letters  of  credit,
      advices of credit, investment property, certificated securities or chattel
      paper  shall  be  deemed  to be  "possession  by the  secured  party,"  or
      possession by a purchaser or a person  designated  by such secured  party,
      for purposes of perfecting the security interest pursuant to the Minnesota
      Uniform  Commercial  Code and the  Uniform  Commercial  Code of any  other
      applicable jurisdiction  (including,  without limitation,  Sections 8-106,
      9-305 and 9-115 thereof);  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,  (as
      applicable)  the  Trustee  for the  purpose of  perfecting  such  security
      interest under applicable law.

            The Company and, at the Company's direction, Residential Funding and
      the Trustee shall, to the extent consistent with this Agreement, take such
      reasonable  actions as may be necessary to ensure that, if this  Agreement
      were  deemed to create a security  interest  in the  Mortgage  Loans,  the
      Uncertificated  REMIC I Regular Interests and the other property described
      above, 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.   Without  limiting  the
      generality of the foregoing, the Company shall prepare


                         41


<PAGE>





      and  deliver to the Trustee not less than 15 days prior to any filing date
      and, the Trustee shall forward for filing,  or shall cause to be forwarded
      for  filing,  at the expense of the  Company,  all  filings  necessary  to
      maintain the  effectiveness  of any original  filings  necessary under the
      Uniform  Commercial  Code as in effect in any  jurisdiction to perfect the
      Trustee's  security  interest  in or lien on the  Mortgage  Loans  and the
      Uncertificated  REMIC I Regular  Interests,  as  evidenced by an Officer's
      Certificate of the Company,  including without limitation (x) continuation
      statements,  and (y) such other statements as may be occasioned by (1) any
      change of name of  Residential  Funding,  the Company or the Trustee (such
      preparation  and  filing  shall  be at  the  expense  of the  Trustee,  if
      occasioned by a change in the Trustee's  name), (2) any change of location
      of the place of  business  or the chief  executive  office of  Residential
      Funding or the Company,  (3) any  transfer of any interest of  Residential
      Funding or the  Company in any  Mortgage  Loan or (4) any  transfer of any
      interest of Residential Funding or the Company in any Uncertificated REMIC
      I Regular Interest.

           (g) The Master Servicer hereby acknowledges the receipt by it of cash
      in an amount  equal to $473,787  (the  "Initial  Monthly  Payment  Fund"),
      representing  scheduled  principal  amortization  and  interest at the Net
      Mortgage Rate for the Due Date in May 1999,  for those  Mortgage Loans for
      which the Trustee will not be entitled to receive such payment. The Master
      Servicer  shall hold such Initial  Monthly  Payment Fund in the  Custodial
      Account  and  shall  include  such  Initial  Monthly  Payment  Fund in the
      Available  Distribution  Amount  for the  Distribution  Date in May  1999.
      Notwithstanding  anything  herein to the  contrary,  the  Initial  Monthly
      Payment  Fund  shall not be an asset of REMIC I or REMIC II. To the extent
      that the Initial  Monthly  Payment  Fund  constitutes  a reserve  fund for
      federal income tax purposes,  (1) it shall be an outside  reserve fund and
      not an asset of REMIC I or REMIC II,  (2) it shall be owned by the  Seller
      and (3) amounts  transferred by REMIC I or REMIC II to the Initial Monthly
      Payment  Fund  shall  be  treated  as  transferred  to the  Seller  or any
      successor,  all within the meaning of Section  1.860G-2(h) of the Treasury
      Regulations.

     SECTION 2.02.   Acceptance by Trustee.

      The Trustee  acknowledges  receipt  (or,  with  respect to Mortgage  Loans
subject  to  a  Custodial  Agreement,   and  based  solely  upon  a  receipt  or
certification executed by the Custodian,  receipt by the respective Custodian as
the duly appointed agent of the Trustee) of the documents referred to in Section
2.01(b)(i) through (iii) above (except that for purposes of such acknowledgement
only, a Mortgage Note may be endorsed in blank and an Assignment of Mortgage may
be in blank) and declares  that it, or a Custodian as its agent,  holds and will
hold such documents and the other documents  constituting a part of the Mortgage
Files  delivered  to it,  or a  Custodian  as  its  agent,  and  the  rights  of
Residential  Funding with respect to any  Additional  Collateral  and the Surety
Bond assigned to the Trustee  pursuant to Section 2.01, in trust for the use and
benefit of all present and future  Certificateholders.  The Trustee or Custodian
(such Custodian being so obligated under a Custodial  Agreement) agrees, for the
benefit of  Certificateholders,  to review each  Mortgage  File  delivered to it
pursuant to Section  2.01(b)  within 45 days after the Closing Date to ascertain
that all required documents (specifically as set forth in Section 2.01(b)), have
been executed and received, and that such documents relate to the Mortgage Loans
identified  on the  Mortgage  Loan  Schedule,  as  supplemented,  that have been
conveyed to it. Upon delivery of the Mortgage Files by the Company or the Master
Servicer,  the Trustee shall  acknowledge  receipt (or, with respect to Mortgage
Loans  subject to a  Custodial  Agreement,  and based  solely  upon a receipt or
certification executed


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<PAGE>





by the  Custodian,  receipt by the  respective  Custodian as the duly  appointed
agent of the Trustee) of the documents referred to in Section 2.01(c) above. The
Trustee or  Custodian  (such  Custodian  being so  obligated  under a  Custodial
Agreement)  agrees to review  each  Mortgage  File  delivered  to it pursuant to
Section  2.01(c)  within 45 days after  receipt  thereof to  ascertain  that all
documents  equired to be delivered  pursuant to such Section have been received,
and that such documents  relate to the Mortgage Loans identified on the Mortgage
Loan Schedule, as supplemented, that have been conveyed to it.

      If the Custodian,  as the Trustee's agent, finds any document or documents
constituting  a part  of a  Mortgage  File to be  missing  or  defective  in any
material  respect,  the Trustee shall promptly so notify the Master Servicer and
the Company.  Pursuant to Section 2.3 of the Custodial Agreement,  the Custodian
will  notify  the  Master  Servicer,  the  Company  and the  Trustee of any such
omission or defect found by it in respect of any  Mortgage  File held by it. The
Master Servicer shall promptly notify the related  Subservicer or Seller of such
omission or defect and request that such  Subservicer  or Seller correct or cure
such  omission or defect  within 60 days from the date the Master  Servicer  was
notified of such omission or defect and, if such  Subservicer or Seller does not
correct  or  cure  such  omission  or  defect  within  such  period,  that  such
Subservicer  or Seller  purchase such Mortgage Loan from REMIC I at its Purchase
Price,  in either  case  within 90 days from the date the  Master  Servicer  was
notified of such  omission or defect;  provided  that if the  omission or defect
would cause the Mortgage Loan to be other than a "qualified mortgage" as defined
in Section 860G(a)(3) of the Code, any such cure or repurchase must occur within
90 days from the date such breach was  discovered.  The  Purchase  Price for any
such Mortgage Loan, whether purchased by the Seller or the Subservicer, shall be
deposited  or caused to be  deposited  by the Master  Servicer in the  Custodial
Account  maintained  by it pursuant  to Section  3.07 and,  upon  receipt by the
Trustee of written  notification of such deposit signed by a Servicing  Officer,
the Trustee or any  Custodian,  as the case may be, shall  release to the Master
Servicer the related  Mortgage  File and the Trustee  shall  execute and deliver
such instruments of transfer or assignment  prepared by the Master Servicer,  in
each case without  recourse,  as shall be necessary to vest in the Seller or its
designee or the  Subservicer  or its designee,  as the case may be, any Mortgage
Loan released  pursuant  hereto and  thereafter  such Mortgage Loan shall not be
part of the Trust Fund. It is understood  and agreed that the  obligation of the
Seller  or the  Subservicer,  as the case  may be,  to so cure or  purchase  any
Mortgage  Loan as to which a material  defect in or  omission  of a  constituent
document  exists  shall  constitute  the sole remedy  respecting  such defect or
omission  available  to  Certificateholders  or the  Trustee  on  behalf  of the
Certificateholders.

      Notwithstanding the foregoing, it is understood and agreed that the Master
Servicer shall use its best efforts to substitute, within 60 days of the Closing
Date,  Qualified  Substitute Mortgage Loans to replace any of the Mortgage Loans
identified  on Schedule I hereto with respect to which any document or documents
constituting  a part of the  Mortgage  File  are  missing  or  defective  in any
material  respect if the Master  Servicer  cannot  cure such  omission or defect
within such 60 day period.

     SECTION  2.03.  Representations,  Warranties  and  Covenants  of the Master
Servicer and the Company.

           (a) The Master Servicer hereby represents and warrants to the Trustee
      for the benefit of the Certificateholders that:


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<PAGE>





                 (i)  The  Master  Servicer  is a  corporation  duly  organized,
            validly  existing and in good standing  under the laws governing its
            creation and existence and is or will be in compliance with the laws
            of each  state in which any  Mortgaged  Property  is  located to the
            extent necessary to ensure the  enforceability of each Mortgage Loan
            in accordance with the terms of this Agreement;

                 (ii) The execution and delivery of this Agreement by the Master
            Servicer and its  performance  and compliance with the terms of this
            Agreement  will not violate  the Master  Servicer's  Certificate  of
            Incorporation  or Bylaws or  constitute  a material  default  (or an
            event which, with notice or lapse of time, or both, would constitute
            a material  default) under, or result in the material breach of, any
            material contract, agreement or other instrument to which the Master
            Servicer  is a  party  or  which  may be  applicable  to the  Master
            Servicer or any of its assets;

                 (iii) This Agreement, assuming due authorization, execution and
            delivery by the Trustee and the Company,  constitutes a valid, legal
            and binding obligation of the Master Servicer,  enforceable  against
            it in  accordance  with  the  terms  hereof  subject  to  applicable
            bankruptcy,  insolvency,  reorganization,  moratorium and other laws
            affecting  the  enforcement  of creditors'  rights  generally and to
            general principles of equity, regardless of whether such enforcement
            is considered in a proceeding in equity or at law;

                 (iv) The Master  Servicer is not in default with respect to any
            order or decree of any court or any order,  regulation  or demand of
            any federal,  state, municipal or governmental agency, which default
            might have  consequences  that would materially and adversely affect
            the  condition  (financial  or other) or  operations  of the  Master
            Servicer or its  properties  or might have  consequences  that would
            materially adversely affect its performance hereunder;

                 (v) No  litigation  is  pending  or, to the best of the  Master
            Servicer's  knowledge,  threatened against the Master Servicer which
            would  prohibit its entering into this  Agreement or performing  its
            obligations under this Agreement;

                 (vi) The Master  Servicer will comply in all material  respects
            in the  performance of this Agreement with all reasonable  rules and
            requirements of each insurer under each Required Insurance Policy;

                 (vii) No  information,  certificate  of an  officer,  statement
            furnished  in  writing  or  report  delivered  to the  Company,  any
            Affiliate of the Company or the Trustee by the Master Servicer will,
            to  the  knowledge  of  the  Master  Servicer,  contain  any  untrue
            statement of a material  fact or omit a material  fact  necessary to
            make  the   information,   certificate,   statement  or  report  not
            misleading; and

                 (viii) The Master Servicer has examined each existing, and will
            examine each new, Subservicing  Agreement and is or will be familiar
            with the  terms  thereof.  The terms of each  existing  Subservicing
            Agreement  and each  designated  Subservicer  are  acceptable to the
            Master Servicer and any new Subservicing Agreements will


                         44


<PAGE>





            comply with the provisions of Section 3.02.

It is understood and agreed that the representations and warranties set forth in
this Section 2.03(a) shall survive delivery of the respective  Mortgage Files to
the Trustee or any Custodian.

      Upon discovery by either the Company, the Master Servicer,  the Trustee or
any  Custodian of a breach of any  representation  or warranty set forth in this
Section  2.03(a) which  materially  and  adversely  affects the interests of the
Certificateholders in any Mortgage Loan, the party discovering such breach shall
give  prompt  written  notice  to the  other  parties  (any  Custodian  being so
obligated under a Custodial  Agreement).  Within 90 days of its discovery or its
receipt of notice of such breach, the Master Servicer shall either (i) cure such
breach in all  material  respects or (ii) to the extent that such breach is with
respect to a Mortgage  Loan or a related  document,  purchase such Mortgage Loan
from the Trust Fund at the Purchase Price and in the manner set forth in Section
2.02;  provided  that if the omission or defect would cause the Mortgage Loan to
be other than a  "qualified  mortgage" as defined in Section  860G(a)(3)  of the
Code,  any such cure or repurchase  must occur within 90 days from the date such
breach was discovered. The obligation of the Master Servicer to cure such breach
or to so purchase such Mortgage Loan shall constitute the sole remedy in respect
of a breach of a  representation  and warranty set forth in this Section 2.03(a)
available   to  the   Certificateholders   or  the  Trustee  on  behalf  of  the
Certificateholders.

           (b) The Company hereby represents and warrants to the Trustee for the
      benefit  of  Certificateholders  that  as of  the  Closing  Date  (or,  if
      otherwise specified below, as of the date so specified):

                 (i) No Mortgage  Loan is 30 or more days  Delinquent in payment
            of  principal  and  interest as of the Cut-off  Date and no Mortgage
            Loan has been so  Delinquent  more than once in the 12-month  period
            prior to the Cut-off Date;

                 (ii) The information set forth in Exhibit F hereto with respect
            to each Mortgage Loan or the Mortgage  Loans, as the case may be, is
            true  and  correct  in all  material  respects  at the date or dates
            respecting which such information is furnished;

                 (iii)  The  Mortgage  Loans  are  fully-amortizing,  fixed-rate
            mortgage  loans with level Monthly  Payments due on the first day of
            each month and terms to maturity at origination or  modification  of
            not more than 30 years;

                 (iv) To the best of the Company's knowledge, if a Mortgage Loan
            is secured by a Mortgaged  Property  with a  Loan-to-Value  Ratio at
            origination in excess of 80%, such Mortgage Loan is the subject of a
            Primary Insurance Policy that insures (a) at least 30% of the Stated
            Principal  Balance  of  the  Mortgage  Loan  at  origination  if the
            Loan-to-Value  Ratio is between 95.00% and 90.01%,  (b) at least 25%
            of such  balance if the  Loan-to-Value  Ratio is between  90.00% and
            85.01%,  and (c) at least 12% of such  balance if the  Loan-to-Value
            Ratio is between  85.00% and  80.01%.  To the best of the  Company's
            knowledge,  each such Primary  Insurance Policy is in full force and
            effect and the Trustee is entitled to the benefits thereunder;

                 (v) The issuers of the Primary Insurance Policies are insurance
companies


                         45


<PAGE>





          whose claims-paying  abilities are currently acceptable to each Rating
          Agency;

                 (vi) No more  than  1.1% of the  Mortgage  Loans  by  aggregate
            Stated  Principal  Balance  as of the  Cut-off  Date are  secured by
            Mortgaged  Properties located in any one zip code area in California
            and no more  than 0.6% of the  Mortgage  Loans by  aggregate  Stated
            Principal  Balance as of the Cut-off  Date are secured by  Mortgaged
            Properties located in any one zip code area outside California;

                 (vii) If the  improvements  securing a  Mortgage  Loan are in a
            federally  designated  special flood hazard area, flood insurance in
            the amount  required  under the  Program  Guide  covers the  related
            Mortgaged  Property  (either by  coverage  under the  federal  flood
            insurance program or by coverage by private insurers);

                 (viii)  Immediately  prior to the  assignment  of the  Mortgage
            Loans to the  Trustee,  the  Company  had good title to, and was the
            sole  owner of,  each  Mortgage  Loan free and clear of any  pledge,
            lien,  encumbrance  or  security  interest  (other  than  rights  to
            servicing  and related  compensation)  and such  assignment  validly
            transfers  ownership of the  Mortgage  Loans to the Trustee free and
            clear of any pledge, lien, encumbrance or security interest;

                 (ix)  Approximately  9.95% of the  Mortgage  Loans by aggregate
            Stated  Principal  Balance as of the Cut-off Date were  underwritten
            under a reduced loan documentation program;

                 (x) Each  Mortgagor  represented in its loan  application  with
            respect to the related  Mortgage  Loan that the  Mortgaged  Property
            would be  owner-occupied  and  therefore  would  not be an  investor
            property as of the date of  origination  of such  Mortgage  Loan. No
            Mortgagor is a corporation or a partnership;

                 (xi)  One of the  Mortgage  Loans,  representing  approximately
            0.04% of the Mortgage Loans by aggregate Stated Principal Balance as
            of the Cut-off Date, is a Buydown Mortgage Loan;

                 (xii) 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);

                 (xiii) A policy  of title  insurance  was  effective  as of the
            closing of each  Mortgage  Loan and is valid and binding and remains
            in full force and effect;

                 (xiv) With respect to any 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);

                 (xv) With  respect to each  Mortgage  Loan  originated  under a
            "streamlined" Mortgage Loan program (through which no new or updated
            appraisals of Mortgaged  Properties are obtained in connection  with
            the refinancing  thereof),  the related Seller has represented  that
            either (a) the value of the related Mortgaged Property as of the


                         46


<PAGE>





            date  the  Mortgage  Loan  was  originated  was not  less  than  the
            appraised  value of such property at the time of  origination of the
            refinanced  Mortgage  Loan or (b)  the  Loan-to-Value  Ratio  of the
            Mortgage  Loan as of the date of  origination  of the Mortgage  Loan
            generally meets the Company's underwriting guidelines;

                 (xvi) Interest on each Mortgage Loan is calculated on the basis
            of a 360-day year consisting of twelve 30-day months;

                 (xvii)  None  of the  Mortgage  Loans  contain  in the  related
            Mortgage File a Destroyed Mortgage Note;

                 (xviii) None of the Mortgage Loans are Cooperative Loans; and

               (xix) None of the Mortgage Loans are Additional Collateral Loans.

It is understood and agreed that the representations and warranties set forth in
this Section 2.03(b) shall survive delivery of the respective  Mortgage Files to
the Trustee or any Custodian.

      Upon discovery by any of the Company, the Master Servicer,  the Trustee or
any Custodian of a breach of any of the representations and warranties set forth
in this Section 2.03(b) which materially and adversely  affects the interests of
the  Certificateholders  in any Mortgage Loan, the party discovering such breach
shall give prompt written  notice to the other parties (any  Custodian  being so
obligated under a Custodial Agreement);  provided, however, that in the event of
a breach of the representation  and warranty set forth in Section  2.03(b)(xii),
the party  discovering  such breach  shall give such notice  within five days of
discovery.  Within 90 days of its  discovery or its receipt of notice of breach,
the Company  shall either (i) cure such breach in all material  respects or (ii)
purchase such Mortgage Loan from the Trust Fund at the Purchase Price and in the
manner set forth in  Section  2.02;  provided  that the  Company  shall have the
option to  substitute  a Qualified  Substitute  Mortgage  Loan or Loans for such
Mortgage Loan if such substitution occurs within two years following the Closing
Date;  provided  that if the omission or defect would cause the Mortgage Loan to
be other than a  "qualified  mortgage" as defined in Section  860G(a)(3)  of the
Code,  any such cure or repurchase  must occur within 90 days from the date such
breach was discovered.  Any such  substitution  shall be effected by the Company
under  the  same  terms  and   conditions   as  provided  in  Section  2.04  for
substitutions  by  Residential  Funding.  It is  understood  and agreed that the
obligation  of the Company to cure such  breach or to so purchase or  substitute
for any Mortgage  Loan as to which such a breach has occurred and is  continuing
shall  constitute  the sole  remedy  respecting  such  breach  available  to the
Certificateholders   or  the  Trustee  on  behalf  of  the   Certificateholders.
Notwithstanding  the  foregoing,  the  Company  shall  not be  required  to cure
breaches  or  purchase  or  substitute  for  Mortgage  Loans as provided in this
Section  2.03(b) if the  substance of the breach of a  representation  set forth
above also constitutes fraud in the origination of the Mortgage Loan.

     SECTION 2.04.   Representations and Warranties of Sellers.

      The  Company,  as assignee of  Residential  Funding  under the  Assignment
Agreement,  hereby assigns to the Trustee for the benefit of  Certificateholders
all of its right, title and interest in respect of the Assignment  Agreement and
each Seller's Agreement applicable to a Mortgage Loan. Insofar as the Assignment
Agreement or such Seller's Agreement relates to the representations and


                         47


<PAGE>





warranties made by Residential  Funding or the related Seller in respect of such
Mortgage  Loan and any  remedies  provided  thereunder  for any  breach  of such
representations  and warranties,  such right, title and interest may be enforced
by the Master Servicer on behalf of the Trustee and the Certificate-

holders. Upon the discovery by the Company, the Master Servicer,  the Trustee or
any Custodian of a breach of any of the representations and warranties made in a
Seller's Agreement or the Assignment Agreement (which, for purposes hereof, will
be deemed to include any other  cause  giving  rise to a  repurchase  obligation
under the Assignment Agreement) in respect of any Mortgage Loan which materially
and adversely affects the interests of the  Certificateholders  in such Mortgage
Loan, the party  discovering such breach shall give prompt written notice to the
other parties (any Custodian  being so obligated  under a Custodial  Agreement).
The Master  Servicer  shall  promptly  notify the related  Seller or Residential
Funding,  as the case may be, of such  breach and  request  that such  Seller or
Residential  Funding,  as the case may be,  either  (i) cure such  breach in all
material  respects within 90 days from the date the Master Servicer was notified
of such breach or (ii)  purchase  such  Mortgage Loan from the Trust Fund at the
Purchase Price and in the manner set forth in Section 2.02; provided that in the
case of a breach under the Assignment  Agreement  Residential Funding shall have
the option to substitute a Qualified  Substitute Mortgage Loan or Loans for such
Mortgage Loan if such substitution occurs within two years following the Closing
Date, except that if the breach would cause the Mortgage Loan to be other than a
"qualified mortgage" as defined in Section 860G(a)(3) of the Code, any such cure
or  substitution  must  occur  within  90 days  from  the date  the  breach  was
discovered.  In the  event  that  Residential  Funding  elects to  substitute  a
Qualified Substitute Mortgage Loan or Loans for a Deleted Mortgage Loan pursuant
to this Section 2.04,  Residential  Funding shall deliver to the Trustee for the
benefit of the  Certificateholders  with  respect to such  Qualified  Substitute
Mortgage Loan or Loans, the original Mortgage Note, the Mortgage,  an Assignment
of the Mortgage in recordable  form, and such other  documents and agreements as
are required by Section  2.01,  with the Mortgage  Note  endorsed as required by
Section  2.01.  No  substitution  will be made in any  calendar  month after the
Determination  Date  for such  month.  Monthly  Payments  due  with  respect  to
Qualified  Substitute  Mortgage Loans in the month of substitution  shall not be
part of the Trust Fund and will be retained by the Master  Servicer and remitted
by  the  Master   Servicer  to  Residential   Funding  on  the  next  succeeding
Distribution  Date.  For  the  month  of  substitution,   distributions  to  the
Certificateholders  will include the Monthly  Payment due on a Deleted  Mortgage
Loan for such month and  thereafter  Residential  Funding  shall be  entitled to
retain all amounts received in respect of such Deleted Mortgage Loan. The Master
Servicer shall amend or cause to be amended the Mortgage Loan Schedule,  and, if
the Deleted Mortgage Loan was a Discount Mortgage Loan, the Schedule of Discount
Fractions,  for the benefit of the  Certificateholders to reflect the removal of
such Deleted  Mortgage Loan and the  substitution  of the  Qualified  Substitute
Mortgage  Loan or Loans  and the  Master  Servicer  shall  deliver  the  amended
Mortgage  Loan  Schedule,  and,  if the  Deleted  Mortgage  Loan was a  Discount
Mortgage Loan, the amended Schedule of Discount Fractions,  to the Trustee. Upon
such  substitution,  the  Qualified  Substitute  Mortgage Loan or Loans shall be
subject to the terms of this Agreement and the related Subservicing  greement in
all   respects,   the  related   Seller   shall  be  deemed  to  have  made  the
representations and warranties with respect to the Qualified Substitute Mortgage
Loan contained in the related Seller's Agreement as of the date of substitution,
and the  Company  and the  Master  Servicer  shall be  deemed  to have made with
respect to any Qualified  Substitute  Mortgage Loan or Loans,  as of the date of
substitution,  the covenants,  representations  and warranties set forth in this
Section  2.04,  in  Section  2.03  hereof  and in  Section  4 of the  Assignment
Agreement,  and  the  Master  Servicer  shall  be  obligated  to  repurchase  or
substitute for any Qualified Substitute Mortgage Loan


                         48


<PAGE>





as to which a  Repurchase  Event (as defined in the  Assignment  Agreement)  has
occurred pursuant to Section 4 of the Assignment Agreement.

      In connection with the  substitution  of one or more Qualified  Substitute
Mortgage Loans for one or more Deleted  Mortgage Loans, the Master Servicer will
determine  the amount (if any) by which the aggregate  principal  balance of all
such Qualified  Substitute Mortgage Loans as of the date of substitution is less
than the aggregate Stated  Principal  Balance of all such Deleted Mortgage Loans
(in each case after application of the principal portion of the Monthly Payments
due  in  the  month  of   substitution   that  are  to  be  distributed  to  the
Certificateholders  in the month of  substitution).  Residential  Funding  shall
deposit the amount of such  shortfall  into the Custodial  Account on the day of
substitution, without any reimbursement therefor. Residential Funding shall give
notice  in  writing  to the  Trustee  of  such  event,  which  notice  shall  be
accompanied by an Officers'  Certificate as to the calculation of such shortfall
and  (subject to Section  10.01(f))  by an Opinion of Counsel to the effect that
such  substitution will not cause (a) any federal tax to be imposed on the Trust
Fund,  including  without  limitation,  any federal  tax imposed on  "prohibited
transactions"  under Section  860F(a)(1) of the Code or on "contributions  after
the startup  date" under  Section  860G(d)(1)  of the Code or (b) any portion of
either  REMIC I or REMIC II to fail to  qualify  as a REMIC at any time that any
Certificate is outstanding.

      It is  understood  and  agreed  that  the  obligation  of  the  Seller  or
Residential  Funding, as the case may be, to cure such breach or purchase (or in
the case of  Residential  Funding to  substitute  for) such  Mortgage Loan as to
which such a breach has occurred and is  continuing  shall  constitute  the sole
remedy respecting such breach available to the Certificateholders or the Trustee
on behalf of Certificateholders.  If the Master Servicer is Residential Funding,
then the Trustee shall also have the right to give the  notification and require
the purchase or substitution  provided for in the second preceding  paragraph in
the event of such a breach of a  representation  or warranty made by Residential
Funding in the  Assignment  Agreement.  In  connection  with the  purchase of or
substitution  for any such Mortgage  Loan by  Residential  Funding,  the Trustee
shall  assign to  Residential  Funding all of the right,  title and  interest in
respect of the Seller's  Agreement and the  Assignment  Agreement  applicable to
such Mortgage Loan.

     SECTION  2.05.  Issuance of  Certificates  Evidencing  Interests in REMIC I
Certificates.

      The Trustee  acknowledges  the  assignment to it of the Mortgage Loans and
the  delivery  of the  Mortgage  Files to it, or any  Custodian  on its  behalf,
subject to any exceptions noted, together with the assignment to it of all other
assets   included  in  REMIC  I,  receipt  of  which  is  hereby   acknowledged.
Concurrently with such delivery and in exchange therefor, the Trustee,  pursuant
to the written request of the Company  executed by an officer of the Company has
executed and caused to be  authenticated  and  delivered to or upon the order of
the  Company  the Class R-I  Certificates  in  authorized  denominations  which,
together with the Uncertificated  REMIC I Regular Interests,  evidence ownership
of REMIC I. The  rights  of the  Class  R-I  Certificateholders  and REMIC II to
receive  distributions  from the proceeds of REMIC I in respect of the Class R-I
Certificates and the Uncertificated REMIC I Regular Interests, and all ownership
interests   of  the   Class  R-I   Certificateholders   and  REMIC  II  in  such
distributions, shall be as set forth in this Agreement.


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<PAGE>





     SECTION  2.06.  Conveyance of  Uncertificated  REMIC I and REMIC II Regular
Interests; Acceptance by the Trustee.

      The Company,  as of the Closing Date, and concurrently  with the execution
and delivery hereof,  does hereby assign without  recourse all the right,  title
and  interest  of the  Company  in and to the  Uncertificated  REMIC  I  Regular
Interests to the Trustee for the benefit of the Class A-1, Class A-2, Class A-3,
Class A-4,  Class A-5,  Class A-6,  Class A-7,  Class A-8, Class A-P, Class A-V,
Class M-1,  Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II
Certificateholders. The Trustee acknowledges receipt of the Uncertificated REMIC
I Regular  Interests  and declares that it holds and will hold the same in trust
for the  exclusive  use and benefit of all present and future  Class A-1,  Class
A-2,  Class A-3,  Class A-4,  Class A-5,  Class A-6, Class A-7, Class A-8, Class
A-P, Class A-V, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3
and Class R-II Certificateholders. The rights of the Class A-1, Class A-2, Class
A-3,  Class A-4,  Class A-5,  Class A-6,  Class A-7, Class A-8, Class A-P, Class
A-V,  Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class
R-II  Certificateholders  to receive distributions from the proceeds of REMIC II
in respect of the Class A-1,  Class A-2,  Class A-3, Class A-4, Class A-5, Class
A-6,  Class A-7,  Class A-8,  Class A-P,  Class A-V, Class M-1, Class M-2, Class
M-3,  Class B-1,  Class  B-2,  Class B-3 and Class  R-II  Certificates,  and all
ownership  interests of the Class A-1,  Class A-2,  Class A-3,  Class A-4, Class
A-5,  Class A-6,  Class A-7,  Class A-8,  Class A-P, Class A-V, Class M-1, Class
M-2,   Class   M-3,   Class   B-1,   Class   B-2,   Class  B-3  and  Class  R-II
Certificateholders  in  such  distributions,  shall  be as  set  forth  in  this
Agreement.

     SECTION 2.07. Issuance of Certificates Evidencing Interest in REMIC II.

      The Trustee  acknowledges the assignment to it of the Uncertificated REMIC
I Regular  Interests  and,  concurrently  therewith  and in  exchange  therefor,
pursuant  to the written  request of the  Company  executed by an officer of the
Company,  the Trustee has executed and caused to be authenticated  and delivered
to or upon the order of the Company,  the Class A-1, Class A-2, Class A-3, Class
A-4,  Class A-5,  Class A-6,  Class A-7,  Class A-8, Class A-P, Class A-V, Class
M-1,  Class M-2,  Class  M-3,  Class  B-1,  Class B-2,  Class B-3 and Class R-II
Certificates in authorized denominations, which evidence ownership of the entire
REMIC II.



ARTICLE III

                         ADMINISTRATION AND SERVICING
                              OF MORTGAGE LOANS

     SECTION 3.01.   Master Servicer to Act as Servicer.

           (a) The Master  Servicer  shall service and  administer  the Mortgage
      Loans in accordance  with the terms of this  Agreement and the  respective
      Mortgage  Loans and shall have full power and  authority,  acting alone or
      through Subservicers as provided in Section 3.02, to do any and all things
      which it may deem necessary or desirable in connection with such servicing
      and administration.  Without limiting the generality of the foregoing, the
      Master  Servicer in its own name or in the name of a Subservicer is hereby
      authorized  and  empowered by the Trustee when the Master  Servicer or the
      Subservicer, as the case may be,


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<PAGE>





      believes it appropriate in its best judgment,  to execute and deliver,  on
      behalf of the  Certificateholders  and the Trustee or any of them, any and
      all  instruments of satisfaction  or  cancellation,  or of partial or full
      release or  discharge,  or of consent to  assumption  or  modification  in
      connection  with a proposed  conveyance,  or of assignment of any Mortgage
      and Mortgage Note in connection with the repurchase of a Mortgage Loan and
      all other comparable  instruments,  or with respect to the modification or
      re-recording of a Mortgage for the purpose of correcting the Mortgage, the
      subordination  of the lien of the  Mortgage  in favor of a public  utility
      company or government  agency or unit with powers of eminent  domain,  the
      taking of a deed in lieu of  foreclosure,  the  completion  of judicial or
      non-judicial  foreclosure,  the conveyance of a Mortgaged  Property to the
      related Insurer,  the acquisition of any property  acquired by foreclosure
      or  deed  in  lieu  of  foreclosure,  or  the  management,  marketing  and
      conveyance  of any  property  acquired by  foreclosure  or deed in lieu of
      foreclosure  with  respect to the  Mortgage  Loans and with respect to the
      Mortgaged  Properties.  Notwithstanding the foregoing,  subject to Section
      3.07(a),  the  Master  Servicer  shall not permit  any  modification  with
      respect to any Mortgage Loan that would both constitute a sale or exchange
      of such  Mortgage  Loan within the meaning of Section 1001 of the Code and
      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 in Full pursuant
      to Section 3.13(d) hereof) and cause either REMIC I or REMIC II to fail to
      qualify as a REMIC under the Code.  The Trustee  shall  furnish the Master
      Servicer  with any powers of attorney  and other  documents  necessary  or
      appropriate  to enable the Master  Servicer to service and  administer the
      Mortgage  Loans.  The Trustee  shall not be liable for any action taken by
      the  Master  Servicer  or any  Subservicer  pursuant  to  such  powers  of
      attorney. In servicing and administering any Nonsubserviced Mortgage Loan,
      the  Master  Servicer  shall,  to the extent  not  inconsistent  with this
      Agreement,  comply with the Program Guide as if it were the  originator of
      such Mortgage Loan and had retained the servicing  rights and  obligations
      in respect  thereof.  In connection with servicing and  administering  the
      Mortgage  Loans,  the  Master  Servicer  and any  Affiliate  of the Master
      Servicer  (i) may  perform  services  such  as  appraisals  and  brokerage
      services that are not customarily provided by servicers of mortgage loans,
      and shall be entitled to  reasonable  compensation  therefor in accordance
      with Section 3.10 and (ii) may, at its own discretion and on behalf of the
      Trustee,  obtain credit  information in the form ofa "credit score" from a
      credit repository.

           (b) All costs incurred by the Master  Servicer or by  Subservicers in
      effecting the timely  payment of taxes and  assessments  on the properties
      subject to the Mortgage  Loans shall not,  for the purpose of  calculating
      monthly  distributions to the  Certificateholders,  be added to the amount
      owing under the related Mortgage Loans,  notwithstanding that the terms of
      such Mortgage Loan so permit,  and such costs shall be  recoverable to the
      extent permitted by Section 3.10(a)(ii).

           (c) The  Master  Servicer  may enter into one or more  agreements  in
      connection  with the  offering  of  pass-through  certificates  evidencing
      interests in one or more of the Certificates  providing for the payment by
      the  Master  Servicer  of  amounts  received  by the  Master  Servicer  as
      servicing  compensation hereunder and required to cover certain Prepayment
      Interest  Shortfalls on the Mortgage Loans,  which payment obligation will
      thereafter be an obligation of the Master Servicer hereunder.


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<PAGE>





     SECTION  3.02.   Subservicing   Agreements   Between  Master  Servicer  and
Subservicers; Enforcement of Subservicers' and Sellers' Obligations.

           (a)  The  Master   Servicer  may  continue  in  effect   Subservicing
      Agreements  entered into by Residential  Funding and Subservicers prior to
      the  execution  and  delivery  of this  Agreement,  and may enter into new
      Subservicing   Agreements  with   Subservicers,   for  the  servicing  and
      administration of all or some of the Mortgage Loans. Each Subservicer of a
      Mortgage Loan shall be entitled to receive and retain,  as provided in the
      related   Subservicing   Agreement  and  in  Section  3.07,   the  related
      Subservicing Fee from payments of interest  received on such Mortgage Loan
      after  payment  of all  amounts  required  to be  remitted  to the  Master
      Servicer in respect of such Mortgage Loan. For any Mortgage Loan that is a
      Nonsubserviced  Mortgage  Loan,  the Master  Servicer shall be entitled to
      receive and retain an amount equal to the  Subservicing  Fee from payments
      of interest.  Unless the context  otherwise  requires,  references in this
      Agreement  to  actions  taken  or to be taken by the  Master  Servicer  in
      servicing  the Mortgage  Loans  include  actions taken or to be taken by a
      Subservicer on behalf of the Master Servicer.  Each Subservicing Agreement
      will be upon such  terms  and  conditions  as are  generally  required  or
      permitted  by the  Program  Guide  and  are  not  inconsistent  with  this
      Agreement and as the Master  Servicer and the Subservicer  have agreed.  A
      representative  form  of  Subservicing   Agreement  is  attached  to  this
      Agreement  as  Exhibit G. With the  approval  of the  Master  Servicer,  a
      Subservicer   may  delegate  its  servicing   obligations  to  third-party
      servicers,  but such  Subservicer  will remain obligated under the related
      Subservicing  Agreement.  The Master  Servicer and a Subservicer may enter
      into amendments thereto or a different form of Subservicing Agreement, and
      the form referred to or included in the Program  Guide is merely  provided
      for  information  and  shall not be  deemed  to limit in any  respect  the
      discretion  of the  Master  Servicer  to  modify or enter  into  different
      Subservicing  Agreements;  provided,  however, that any such amendments or
      different forms shall be consistent with and not violate the provisions of
      either  this  Agreement  or the  Program  Guide  in a manner  which  would
      materially and adversely affect the interests of the Certificateholders.

           (b) As  part  of  its  servicing  activities  hereunder,  the  Master
      Servicer, for the benefit of the Trustee and the Certificateholders, shall
      use its  best  reasonable  efforts  to  enforce  the  obligations  of each
      Subservicer  under the related  Subservicing  Agreement and of each Seller
      under  the   related   Seller's   Agreement,   to  the  extent   that  the
      non-performance  of any such obligation  would have a material and adverse
      effect on a Mortgage Loan, including,  without limitation,  the obligation
      to  purchase a Mortgage  Loan on account of  defective  documentation,  as
      described in Section 2.02,  or on account of a breach of a  representation
      or warranty,  as described in Section 2.04. Such  enforcement,  including,
      without  limitation,  the legal  prosecution  of  claims,  termination  of
      Subservicing  Agreements or Seller's Agreements,  as appropriate,  and the
      pursuit of other appropriate  remedies,  shall be in such form and carried
      out to such an extent and at such time as the Master Servicer would employ
      in its good faith business  judgment and which are normal and usual in its
      general mortgage servicing  activities.  The Master Servicer shall pay the
      costs of such  enforcement  at its own  expense,  and shall be  reimbursed
      therefor only (i) from a general recovery  resulting from such enforcement
      to the  extent,  if any,  that such  recovery  exceeds  all amounts due in
      respect of the related  Mortgage Loan or (ii) from a specific  recovery of
      costs,  expenses or  attorneys  fees  against the party  against whom such
      enforcement is


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<PAGE>





      directed.

     SECTION 3.03.   Successor Subservicers.

      The Master  Servicer  shall be  entitled  to  terminate  any  Subservicing
Agreement  that may exist in  accordance  with the terms and  conditions of such
Subservicing  Agreement and without any limitation by virtue of this  Agreement;
provided,  however,  that  in the  event  of  termination  of  any  Subservicing
Agreement by the Master Servicer or the  Subservicer,  the Master Servicer shall
either act as servicer of the related Mortgage Loan or enter into a Subservicing
Agreement with a successor  Subservicer  which will be bound by the terms of the
related  Subservicing  Agreement.  If the Master  Servicer or any  Affiliate  of
Residential  Funding  acts as  servicer,  it will not assume  liability  for the
representations  and  warranties of the  Subservicer  which it replaces.  If the
Master  Servicer   enters  into  a  Subservicing   Agreement  with  a  successor
Subservicer,  the  Master  Servicer  shall use  reasonable  efforts  to have the
successor  Subservicer assume liability for the  representations  and warranties
made by the terminated Subservicer in respect of the related Mortgage Loans and,
in the event of any such  assumption  by the successor  Subservicer,  the Master
Servicer may, in the exercise of its business  judgment,  release the terminated
Subservicer from liability for such representations and warranties.

     SECTION 3.04.   Liability of the Master Servicer.

      Notwithstanding any Subservicing Agreement,  any of the provisions of this
Agreement relating to agreements or arrangements  between the Master Servicer or
a Subservicer  or reference to actions taken through a Subservicer or otherwise,
the Master  Servicer  shall remain  obligated  and liable to the Trustee and the
Certificateholders  for the servicing and administering of the Mortgage Loans in
accordance  with the  provisions  of Section  3.01  without  diminution  of such
obligation   or  liability  by  virtue  of  such   Subservicing   Agreements  or
arrangements or by virtue of indemnification from the Subservicer or the Company
and to the same extent and under the same terms and  conditions as if the Master
Servicer alone were servicing and  administering  the Mortgage Loans. The Master
Servicer  shall be entitled to enter into any agreement  with a  Subservicer  or
Seller for  indemnification of the Master Servicer and nothing contained in this
Agreement shall be deemed to limit or modify such indemnification.

     SECTION 3.05. No Contractual  Relationship  Between Subservicer and Trustee
or Certificateholders

      Any  Subservicing  Agreement  that  may be  entered  into  and  any  other
transactions or services  relating to the Mortgage Loans involving a Subservicer
in its capacity as such and not as an  originator  shall be deemed to be between
the  Subservicer  and  the  Master  Servicer  alone  and  the  Trustee  and  the
Certificateholders shall not be deemed parties thereto and shall have no claims,
rights,  obligations,  duties or liabilities  with respect to the Subservicer in
its  capacity  as such  except  as set  forth in  Section  3.06.  The  foregoing
provision  shall  not in any way  limit a  Subservicer's  obligation  to cure an
omission or defect or to  repurchase  a Mortgage  Loan as referred to in Section
2.02 hereof.


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     SECTION  3.06.  Assumption or  Termination  of  Subservicing  Agreements by
Trustee.

           (a) In the event the Master  Servicer  shall for any reason no longer
      be the master servicer  (including by reason of an Event of Default),  the
      Trustee,  its designee or its successor shall thereupon  assume all of the
      rights and  obligations  of the Master  Servicer  under each  Subservicing
      Agreement  that may have been entered into.  The Trustee,  its designee or
      the successor servicer for the Trustee shall be deemed to have assumed all
      of the Master Servicer's  interest therein and to have replaced the Master
      Servicer as a party to the Subservicing Agreement to the same extent as if
      the Subservicing  Agreement had been assigned to the assuming party except
      that the Master Servicer shall not thereby be relieved of any liability or
      obligations under the Subservicing Agreement.

           (b) The Master Servicer shall, upon request of the Trustee but at the
      expense  of the  Master  Servicer,  deliver  to  the  assuming  party  all
      documents  and records  relating to each  Subservicing  Agreement  and the
      Mortgage Loans then being serviced and an accounting of amounts  collected
      and held by it and  otherwise  use its best  efforts to effect the orderly
      and  efficient  transfer of each  Subservicing  Agreement  to the assuming
      party.

     SECTION 3.07.   Collection of Certain Mortgage Loan Payments; Deposits to
Custodial Account.

           (a) The Master Servicer shall make reasonable  efforts to collect all
      payments  called for under the terms and provisions of the Mortgage Loans,
      and shall,  to the extent such  procedures  shall be consistent  with this
      Agreement and the terms and  provisions of any related  Primary  Insurance
      Policy,  follow such collection  procedures as it would employ in its good
      faith  business  judgment  and which are normal  and usual in its  general
      mortgage servicing activities.  Consistent with the foregoing,  the Master
      Servicer may in its  discretion  (i) waive any late payment  charge or any
      prepayment charge or penalty interest in connection with the prepayment of
      a  Mortgage  Loan and (ii)  extend  the Due  Date  for  payments  due on a
      Mortgage Loan in accordance  with the Program  Guide;  provided,  however,
      that the Master  Servicer  shall first  determine  that any such waiver or
      extension  will not impair the coverage of any related  Primary  Insurance
      Policy or materially adversely affect the lien of the related Mortgage. In
      the event of any such  arrangement,  the Master Servicer shall make timely
      advances  on the related  Mortgage  Loan  during the  scheduled  period in
      accordance  with the  amortization  schedule of such Mortgage Loan without
      modification  thereof  by reason  of such  arrangements  unless  otherwise
      agreed to by the Holders of the Classes of Certificates  affected thereby;
      provided,  however,  that  no such  extension  shall  be made if any  such
      advance would be a  Nonrecoverable  Advance.  Consistent with the terms of
      this  Agreement,  the Master  Servicer may also waive,  modify or vary any
      term of any  Mortgage  Loan  or  consent  to the  postponement  of  strict
      compliance  with any such term or in any manner  grant  indulgence  to any
      Mortgagor  if  in  the  Master  Servicer's   determination   such  waiver,
      modification,  postponement or indulgence is not materially adverse to the
      interests of the  Certificateholders  (taking  into account any  estimated
      Realized Loss that might result absent such  action);  provided,  however,
      that  the  Master  Servicer  may  not  modify  materially  or  permit  any
      Subservicer to modify any Mortgage Loan,  including without limitation any
      modification  that would change the Mortgage Rate,  forgive the payment of
      any principal or interest  (unless in connection  with the  liquidation of
      the related Mortgage Loan or except in


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<PAGE>





      connection with prepayments to the extent that such  reamortization is not
      inconsistent  with the terms of the  Mortgage  Loan),  or extend the final
      maturity  date of such  Mortgage  Loan,  unless such  Mortgage  Loan is in
      default  or, in the  judgment  of the  Master  Servicer,  such  default is
      reasonably foreseeable;  and provided,  further, that no such modification
      shall  reduce the  interest  rate on a Mortgage  Loan below the sum of the
      Pool  Strip Rate and the sum of the rates at which the  Servicing  Fee and
      the  Subservicing  Fee with  respect to such  Mortgage  Loan  accrues.  In
      connection with any  Curtailment of a Mortgage Loan, the Master  Servicer,
      to the extent not  inconsistent  with the terms of the  Mortgage  Note and
      local law and  practice,  may permit the Mortgage  Loan to be  reamortized
      such that the Monthly Payment is recalculated as an amount that will fully
      amortize the remaining  Stated  Principal  Balance thereof by the original
      Maturity Date based on the original  Mortgage  Rate;  provided,  that such
      re-amortization shall not be permitted if it would constitute a reissuance
      of the Mortgage Loan for federal income tax purposes.

           (b) The Master  Servicer  shall  establish  and  maintain a Custodial
      Account  in  which  the  Master  Servicer  shall  deposit  or  cause to be
      deposited on a daily  basis,  except as  otherwise  specifically  provided
      herein, the following payments and collections remitted by Subservicers or
      received by it in respect of the Mortgage Loans  subsequent to the Cut-off
      Date  (other than in respect of  principal  and  interest on the  Mortgage
      Loans due on or before the Cut-off Date):

                 (i) All payments on account of principal,  including  Principal
            Prepayments  made  by  Mortgagors  on the  Mortgage  Loans  and  the
            principal  component  of  any  Subservicer  Advance  or of  any  REO
            Proceeds  received in  connection  with an REO Property for which an
            REO Disposition has occurred;

                 (ii) All  payments  on  account  of  interest  at the  Adjusted
            Mortgage Rate on the Mortgage  Loans,  including  Buydown Funds,  if
            any, and the interest component of any Subservicer Advance or of any
            REO Proceeds  received in connection  with an REO Property for which
            an REO Disposition has occurred;

                 (iii) Insurance  Proceeds and Liquidation  Proceeds (net of any
            related expenses of the Subservicer);

                 (iv) All proceeds of any Mortgage Loans  purchased  pursuant to
            Section  2.02,  2.03,  2.04 or 4.07 and all  amounts  required to be
            deposited  in  connection  with  the  substitution  of  a  Qualified
            Substitute Mortgage Loan pursuant to Section 2.03 or 2.04;

                 (v) Any amounts  required to be  deposited  pursuant to Section
            3.07(c) or 3.21;

                 (vi) All amounts  transferred  from the Certificate  Account to
            the Custodial Account in accordance with Section 4.02(a); and

                 (vii) Any amounts  realized by MLCC and  received by the Master
            Servicer in respect of any Additional Collateral.


                         55


<PAGE>





      The foregoing  requirements for deposit in the Custodial  Account shall be
      exclusive,  it being  understood  and agreed  that,  without  limiting the
      generality of the foregoing,  payments on the Mortgage Loans which are not
      part of the Trust Fund (consisting of payments in respect of principal and
      interest  on the  Mortgage  Loans due on or before the  Cut-off  Date) and
      payments  or  collections  in the  nature of  prepayment  charges  or late
      payment  charges or  assumption  fees may but need not be deposited by the
      Master  Servicer  in the  Custodial  Account.  In the event any amount not
      required to be deposited in the  Custodial  Account is so  deposited,  the
      Master  Servicer may at any time  withdraw  such amount from the Custodial
      Account,  any  provision  herein  to  the  contrary  notwithstanding.  The
      Custodial Account may contain funds that belong to one or more trust funds
      created for  mortgage  pass-through  certificates  of other series and may
      contain other funds respecting payments on mortgage loans belonging to the
      Master  Servicer or serviced or master serviced by it on behalf of others.
      Notwithstanding  such commingling of funds, the Master Servicer shall keep
      records  that  accurately  reflect  the funds on deposit in the  Custodial
      Account  that  have been  identified  by it as being  attributable  to the
      Mortgage Loans.

            With  respect  to  Insurance  Proceeds,  Liquidation  Proceeds,  REO
      Proceeds and the proceeds of the purchase of any Mortgage Loan pursuant to
      Sections 2.02,  2.03,  2.04 and 4.07 received in any calendar  month,  the
      Master  Servicer  may  elect to treat  such  amounts  as  included  in the
      Available  Distribution  Amount for the Distribution  Date in the month of
      receipt,  but is not obligated to do so. If the Master Servicer so elects,
      such  amounts  will be  deemed  to have  been  received  (and any  related
      Realized  Loss  shall be deemed to have  occurred)  on the last day of the
      month prior to the receipt thereof.

           (c) The  Master  Servicer  shall  use its best  efforts  to cause the
      institution  maintaining the Custodial  Account to invest the funds in the
      Custodial  Account   attributable  to  the  Mortgage  Loans  in  Permitted
      Investments  which  shall  mature not later than the  Certificate  Account
      Deposit  Date  next  following  the  date of  such  investment  (with  the
      exception of the Amount Held for Future  Distribution) and which shall not
      be sold or  disposed  of prior to their  maturities.  All  income and gain
      realized from any such  investment  shall be for the benefit of the Master
      Servicer as additional servicing  compensation and shall be subject to its
      withdrawal or order from time to time.  The amount of any losses  incurred
      in respect  of any such  investments  attributable  to the  investment  of
      amounts  in  respect  of the  Mortgage  Loans  shall be  deposited  in the
      Custodial  Account by the Master Servicer out of its own funds immediately
      as realized without any right of reimbursement.

           (d) The Master  Servicer  shall give  notice to the  Trustee  and the
      Company of any change in the  location  of the  Custodial  Account and the
      location of the Certificate Account prior to the use thereof.

     SECTION 3.08.   Subservicing Accounts; Servicing Accounts.

           (a) In those cases where a  Subservicer  is servicing a Mortgage Loan
      pursuant to a Subservicing Agreement,  the Master Servicer shall cause the
      Subservicer,  pursuant to the  Subservicing  Agreement,  to establish  and
      maintain  one or more  Subservicing  Accounts  which  shall be an Eligible
      Account or, if such account is not an Eligible  Account,  shall  generally
      satisfy the requirements of the Program Guide and be otherwise  acceptable
      to the


                         56


<PAGE>





      Master Servicer and each Rating Agency.  The Subservicer  will be required
      thereby  to deposit  into the  Subservicing  Account on a daily  basis all
      proceeds  of  Mortgage  Loans  received  by  the  Subservicer,   less  its
      Subservicing  Fees and unreimbursed  advances and expenses,  to the extent
      permitted by the Subservicing  Agreement.  If the Subservicing  Account is
      not an  Eligible  Account,  the  Master  Servicer  shall be deemed to have
      received  such  monies  upon  receipt  thereof  by  the  Subservicer.  The
      Subservicer  shall not be required to deposit in the Subservicing  Account
      payments  or  collections  in the  nature of  prepayment  charges  or late
      charges or assumption fees. On or before the date specified in the Program
      Guide,  but in no event  later  than the  Determination  Date,  the Master
      Servicer  shall  cause  the  Subservicer,  pursuant  to  the  Subservicing
      Agreement,  to remit to the Master  Servicer for deposit in the  Custodial
      Account all funds held in the  Subservicing  Account  with respect to each
      Mortgage  Loan  serviced  by such  Subservicer  that  are  required  to be
      remitted to the Master  Servicer.  The Subservicer  will also be required,
      pursuant to the Subservicing  Agreement, to advance on such scheduled date
      of  remittance  amounts  equal to any scheduled  monthly  installments  of
      principal and interest less its  Subservicing  Fees on any Mortgage  Loans
      for which payment was not received by the Subservicer.  This obligation to
      advance  with  respect  to each  Mortgage  Loan  will  continue  up to and
      including  the first of the month  following the date on which the related
      Mortgaged  Property  is sold at a  foreclosure  sale or is  acquied by the
      Trust Fund by deed in lieu of foreclosure or otherwise.  All such advances
      received by the Master  Servicer shall be deposited  promptly by it in the
      Custodial Account.

           (b)  The   Subservicer   may  also  be  required,   pursuant  to  the
      Subservicing Agreement, to remit to the Master Servicer for deposit in the
      Custodial  Account interest at the Adjusted Mortgage Rate (or Modified Net
      Mortgage  Rate plus the rate per annum at which the  Servicing Fee accrues
      in the case of a Modified  Mortgage Loan) on any  Curtailment  received by
      such Subservicer in respect of a Mortgage Loan from the related  Mortgagor
      during any month that is to be  applied by the  Subservicer  to reduce the
      unpaid principal  balance of the related Mortgage Loan as of the first day
      of such month,  from the date of  application  of such  Curtailment to the
      first  day of the  following  month.  Any  amounts  paid by a  Subservicer
      pursuant to the preceding  sentence shall be for the benefit of the Master
      Servicer as additional servicing  compensation and shall be subject to its
      withdrawal or order from time to time pursuant to Sections 3.10(a)(iv) and
      (v).

           (c) In addition to the Custodial Account and the Certificate Account,
      the Master Servicer shall for any Nonsubserviced  Mortgage Loan, and shall
      cause the  Subservicers  for Subserviced  Mortgage Loans to, establish and
      maintain one or more Servicing Accounts and deposit and retain therein all
      collections  from the Mortgagors (or advances from  Subservicers)  for the
      payment  of  taxes,  assessments,   hazard  insurance  premiums,   Primary
      Insurance  Policy  premiums,  if applicable,  or comparable  items for the
      account of the  Mortgagors.  Each  Servicing  Account  shall  satisfy  the
      requirements  for a Subservicing  Account and, to the extent  permitted by
      the Program Guide or as is otherwise  acceptable  to the Master  Servicer,
      may also  function  as a  Subservicing  Account.  Withdrawals  of  amounts
      related to the Mortgage Loans from the Servicing Accounts may be made only
      to effect timely payment of taxes, assessments, hazard insurance premiums,
      Primary Insurance Policy premiums, if applicable,  or comparable items, to
      reimburse the Master  Servicer or Subservicer  out of related  collections
      for any  payments  made  pursuant  to Sections  3.11 (with  respect to the
      Primary Insurance Policy) and 3.12(a) (with respect to hazard  insurance),
      to


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      refund to any Mortgagors any sums as may be determined to be overages,  to
      pay  interest,  if required,  to  Mortgagors  on balances in the Servicing
      Account or to clear and terminate the Servicing Account at the termination
      of this  Agreement in accordance  with Section 9.01 or in accordance  with
      the Program Guide.  As part of its servicing  duties,  the Master Servicer
      shall, and the Subservicers will, pursuant to the Subservicing Agreements,
      be required to pay to the Mortgagors  interest on funds in this account to
      the extent required by law.

           (d) The Master Servicer shall advance the payments referred to in the
      preceding  subsection  that  are  not  timely  paid by the  Mortgagors  or
      advanced by the  Subservicers  on the date when the tax,  premium or other
      cost for which such  payment is intended is due,  but the Master  Servicer
      shall be required so to advance only to the extent that such advances,  in
      the good faith judgment of the Master Servicer, will be recoverable by the
      Master  Servicer  out  of  Insurance  Proceeds,  Liquidation  Proceeds  or
      otherwise.

     SECTION 3.09.   Access to Certain Documentation and Information Regarding
the Mortgage Loans.

      In the event that  compliance  with this Section 3.09 shall make any Class
of  Certificates  legal for  investment  by federally  insured  savings and loan
associations,  the Master Servicer shall provide,  or cause the  Subservicers to
provide,  to the Trustee,  the Office of Thrift  Supervision or the FDIC and the
supervisory  agents and examiners thereof access to the documentation  regarding
the Mortgage  Loans  required by applicable  regulations of the Office of Thrift
Supervision,  such access being afforded without charge but only upon reasonable
request and during normal business hours at the offices designated by the Master
Servicer. The Master Servicer shall permit such representatives to photocopy any
such  documentation  and shall  provide  equipment  for that purpose at a charge
reasonably approximating the cost of such photocopying to the Master Servicer.

     SECTION 3.10.   Permitted Withdrawals from the Custodial Account.

           (a) The Master  Servicer may,  from time to time as provided  herein,
      make withdrawals from the Custodial  Account of amounts on deposit therein
      pursuant to Section 3.07 that are  attributable  to the Mortgage Loans for
      the following purposes:

                 (i) to  make  deposits  into  the  Certificate  Account  in the
            amounts and in the manner provided for in Section 4.01;

                 (ii)  to  reimburse  itself  or  the  related  Subservicer  for
            previously  unreimbursed  advances  or  expenses  made  pursuant  to
            Sections  3.01,  3.07(a),  3.08,  3.11,  3.12(a),  3.14  and 4.04 or
            otherwise reimbursable pursuant to the terms of this Agreement, such
            withdrawal  right being  limited to amounts  received on  particular
            Mortgage Loans (including, for this purpose, REO Proceeds, Insurance
            Proceeds,  Liquidation  Proceeds and proceeds from the purchase of a
            Mortgage Loan pursuant to Section  2.02,  2.03,  2.04 or 4.07) which
            represent  (A) Late  Collections  of Monthly  Payments for which any
            such  advance  was  made in the  case  of  Subservicer  Advances  or
            Advances  pursuant to Section 4.04 and (B)  recoveries of amounts in
            respect of which such  advances  were made in the case of  Servicing
            Advances;


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<PAGE>





                 (iii)  to pay to  itself  or the  related  Subservicer  (if not
            previously  retained  by  such  Subservicer)  out  of  each  payment
            received by the Master Servicer on account of interest on a Mortgage
            Loan as  contemplated  by Sections 3.14 and 3.16, an amount equal to
            that  remaining  portion of any such payment as to interest (but not
            in excess of the  Servicing  Fee and the  Subservicing  Fee,  if not
            previously  retained)  which,  when  deducted,  will  result  in the
            remaining amount of such interest being interest at the Net Mortgage
            Rate  (or  Modified  Net  Mortgage  Rate in the  case of a  Modified
            Mortgage Loan) on the amount specified in the amortization  schedule
            of the related Mortgage Loan as the principal balance thereof at the
            beginning  of the period  respecting  which such  interest  was paid
            after giving effect to any previous Curtailments;

                 (iv) to pay to itself as additional servicing  compensation any
            interest  or  investment  income  earned on funds  deposited  in the
            Custodial  Account  that it is  entitled  to  withdraw  pursuant  to
            Section 3.07(c);

                 (v) to pay to itself as additional  servicing  compensation any
            Foreclosure  Profits,  and any amounts  remitted by  Subservicers as
            interest in respect of Curtailments pursuant to Section 3.08(b);

                 (vi) to pay to itself,  a  Subservicer,  a Seller,  Residential
            Funding,  the Company or any other  appropriate  Person, as the case
            may be, with respect to each Mortgage  Loan or property  acquired in
            respect  thereof that has been  purchased  or otherwise  transferred
            pursuant to Section  2.02,  2.03,  2.04,  4.07 or 9.01,  all amounts
            received   thereon  and  not  required  to  be  distributed  to  the
            Certificateholders  as of the  date  on  which  the  related  Stated
            Principal Balance or Purchase Price is determined;

                 (vii) to reimburse  itself or the related  Subservicer  for any
            Nonrecoverable  Advance or  Advances in the manner and to the extent
            provided in  subsection  (c) below,  any Advance made in  connection
            with a modification of a Mortgage Loan that is in default or, in the
            judgment of the Master Servicer,  default is reasonably  foreseeable
            pursuant to Section 3.07(a), to the extent the amount of the Advance
            has been added to the outstanding  principal balance of the Mortgage
            Loan or any Advance  reimbursable to the Master Servicer pursuant to
            Section 4.02(a)(iii);

                 (viii) to reimburse itself or the Company for expenses incurred
            by and  reimbursable to it or the Company pursuant to Sections 3.13,
            3.14(c),  6.03, 10.01 or otherwise,  or in connection with enforcing
            any repurchase,  substitution or  indemnification  obligation of any
            Seller  (other than an  Affiliate  of the  Company)  pursuant to the
            related Seller's Agreement;

                 (ix)  to  reimburse  itself  for  amounts  expended  by it  (a)
            pursuant  to  Section  3.14 in good  faith  in  connection  with the
            restoration of property  damaged by an Uninsured  Cause,  and (b) in
            connection with the liquidation of a Mortgage Loan or disposition of
            an REO Property to the extent not otherwise  reimbursed  pursuant to
            clause (ii) or (viii) above; and


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<PAGE>





                 (x) to withdraw any amount  deposited in the Custodial  Account
            that was not  required to be deposited  therein  pursuant to Section
            3.07.

           (b) Since, in connection with  withdrawals  pursuant to clauses (ii),
      (iii), (v) and (vi), the Master Servicer's  entitlement thereto is limited
      to  collections  or other  recoveries on the related  Mortgage  Loan,  the
      Master Servicer shall keep and maintain separate accounting, on a Mortgage
      Loan by Mortgage Loan basis,  for the purpose of justifying any withdrawal
      from the Custodial Account pursuant to such clauses.

           (c) The Master Servicer shall be entitled to reimburse  itself or the
      related  Subservicer  for any advance  made in respect of a Mortgage  Loan
      that the Master  Servicer  determines  to be a  Nonrecoverable  Advance by
      withdrawal  from the  Custodial  Account of  amounts  on  deposit  therein
      attributable to the Mortgage Loans on any Certificate Account Deposit Date
      succeeding the date of such determination.  Such right of reimbursement in
      respect  of a  Nonrecoverable  Advance  on any  such  Certificate  Account
      Deposit  Date shall be limited to an amount not  exceeding  the portion of
      such advance  previously paid to  Certificateholders  (and not theretofore
      reimbursed to the Master Servicer or the related Subservicer).

     SECTION 3.11.   Maintenance of the Primary Insurance Policies; Collections
Thereunder.

           (a) The Master  Servicer shall not take, or permit any Subservicer to
      take, any action which would result in  non-coverage  under any applicable
      Primary  Insurance  Policy of any loss  which,  but for the actions of the
      Master Servicer or Subservicer, would have been covered thereunder. To the
      extent  coverage is available,  the Master Servicer shall keep or cause to
      be kept in full force and effect each such Primary  Insurance Policy until
      the principal  balance of the related Mortgage Loan secured by a Mortgaged
      Property is reduced to 80% or less of the  Appraised  Value in the case of
      such a Mortgage Loan having a Loan-to-Value Ratio at origination in excess
      of 80%, provided that such Primary Insurance Policy was in place as of the
      Cut-off  Date and the  Company had  knowledge  of such  Primary  Insurance
      Policy.  The Master  Servicer  shall be  entitled  to cancel or permit the
      discontinuation  of any Primary  Insurance Policy as to any Mortgage Loan,
      if the Stated  Principal  Balance of the Mortgage Loan is reduced below an
      amount  equal  to 80% of the  appraised  value  of the  related  Mortgaged
      Property as determined in any appraisal thereof after the Closing Date, or
      if the  Loan-to-Value  Ratio is reduced below 80% as a result of principal
      payments on the Mortgage  Loan after the Closing  Date.  In the event that
      the Company gains  knowledge  that as of the Closing Date, a Mortgage Loan
      had a  Loan-to-Value  Ratio at origination in excess of 80% and is not the
      subject  of a  Primary  Insurance  Policy  (and  was not  included  in any
      exception  to the  representation  in Section  2.03(b)(iv))  and that such
      Mortgage Loan has a current  Loan-to-Value Ratio in excess of 80% then the
      Master Servicer shall use its reasonable  efforts to obtain and maintain a
      Primary Insurance Policy to the extent that such a policy is obtainable at
      a  reasonable  price.  The Master  Servicer  shall not cancel or refuse to
      renew any such Primary  Insurance  Policy  applicable to a  Nonsubserviced
      Mortgage  Loan,  or consent to any  Subservicer  canceling  or refusing to
      renew any such Primary  Insurance  Policy  applicable  to a Mortgage  Loan
      subserviced  by it, that is in effect at the date of the initial  issuance
      of the  Certificates  and is required to be kept in force hereunder unless
      the


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      replacement  Primary  Insurance  Policy for such  canceled or  non-renewed
      policy is  maintained  with an  insurer  whose  claims-paying  ability  is
      acceptable  to each Rating Agency for mortgage  pass-through  certificates
      having a rating  equal to or  better  than the  lower of the  then-current
      rating or the rating  assigned to the  Certificates as of the Closing Date
      by such Rating Agency.

           (b) In connection with its activities as  administrator  and servicer
      of the Mortgage  Loans,  the Master Servicer agrees to present or to cause
      the related Subservicer to present, on behalf of the Master Servicer,  the
      Subservicer,  if any,  the Trustee and  Certificateholders,  claims to the
      Insurer  under  any  Primary  Insurance  Policies,  in a timely  manner in
      accordance with such policies, and, in this regard, to take or cause to be
      taken such  reasonable  action as shall be  necessary  to permit  recovery
      under any Primary Insurance Policies respecting  defaulted Mortgage Loans.
      Pursuant to Section 3.07, any Insurance  Proceeds collected by or remitted
      to the Master  Servicer  under any  Primary  Insurance  Policies  shall be
      deposited in the  Custodial  Account,  subject to  withdrawal  pursuant to
      Section 3.10.

     SECTION  3.12.  Maintenance  of Fire  Insurance  and Omissions and Fidelity
Coverage.

           (a) The  Master  Servicer  shall  cause  to be  maintained  for  each
      Mortgage Loan (other than a Cooperative Loan) fire insurance with extended
      coverage  in an  amount  which  is equal to the  lesser  of the  principal
      balance owing on such Mortgage Loan or 100 percent of the insurable  value
      of the improvements; provided, however, that such coverage may not be less
      than the  minimum  amount  required  to fully  compensate  for any loss or
      damage on a  replacement  cost  basis.  To the extent it may do so without
      breaching the related  Subservicing  Agreement,  the Master Servicer shall
      replace any Subservicer that does not cause such insurance,  to the extent
      it is available, to be maintained. The Master Servicer shall also cause to
      be maintained on property  acquired upon  foreclosure,  or deed in lieu of
      foreclosure,  of any Mortgage Loan (other than a Cooperative  Loan),  fire
      insurance  with extended  coverage in an amount which is at least equal to
      the amount necessary to avoid the application of any  co-insurance  clause
      contained  in the related  hazard  insurance  policy.  Pursuant to Section
      3.07, any amounts collected by the Master Servicer under any such policies
      (other  than  amounts to be applied  to the  restoration  or repair of the
      related  Mortgaged  Property or property thus acquired or amounts released
      to the Mortgagor in accordance with the Master Servicer's normal servicing
      procedures)  shall be  deposited  in the  Custodial  Account,  subject  to
      withdrawal  pursuant  to Section  3.10.  Any cost  incurred  by the Master
      Servicer in maintaining  any such insurance  shall not, for the purpose of
      calculating monthly distributions to the  Certificateholders,  be added to
      the amount owing under the Mortgage Loan,  notwithstanding  that the terms
      of the Mortgage  Loan so permit.  Such costs shall be  recoverable  by the
      Master  Servicer out of related late  payments by the  Mortgagor or out of
      Insurance  Proceeds and  Liquidation  Proceeds to the extent  permitted by
      Section  3.10.  It is  understood  and agreed that no  earthquake or other
      additional  insurance is to be required of any  Mortgagor or maintained on
      property  acquired  in respect of a Mortgage  Loan other than  pursuant to
      such  applicable laws and regulations as shall at any time be in force and
      as shall  require such  additional  insurance.  Whenever the  improvements
      securing a Mortgage  Loan (other than a  Cooperative  Loan) are located at
      the time of  origination  of such Mortgage Loan in a federally  designated
      special flood hazard area, the Master Servicer shall cause flood insurance
      (to the extent available) to be maintained in respect thereof. Such flood


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      insurance  shall be in an amount  equal to the  lesser  of (i) the  amount
      required to compensate for any loss or damage to the Mortgaged Property on
      a  replacement  cost basis and (ii) the maximum  amount of such  insurance
      available  for the related  Mortgaged  Property  under the national  flood
      insurance program (assuming that the area in which such Mortgaged Property
      is located is participating in such program).

            In the event that the Master  Servicer  shall  obtain and maintain a
      blanket fire  insurance  policy with extended  coverage  insuring  against
      hazard  losses on all of the  Mortgage  Loans,  it shall  conclusively  be
      deemed  to have  satisfied  its  obligations  as set  forth  in the  first
      sentence of this Section 3.12(a), it being understood and agreed that such
      policy may contain a deductible  clause, in which case the Master Servicer
      shall,  in the event  that  there  shall not have been  maintained  on the
      related  Mortgaged  Property a policy complying with the first sentence of
      this  Section  3.12(a)  and there  shall have been a loss which would have
      been covered by such policy, deposit in the Certificate Account the amount
      not otherwise  payable under the blanket policy because of such deductible
      clause.  Any such  deposit  by the  Master  Servicer  shall be made on the
      Certificate  Account  Deposit Date next  preceding the  Distribution  Date
      which occurs in the month  following the month in which payments under any
      such  policy  would  have been  deposited  in the  Custodial  Account.  In
      connection  with its  activities  as  administrator  and  servicer  of the
      Mortgage  Loans,  the  Master  Servicer  agrees to  present,  on behalf of
      itself,  the Trustee  and the  Certificateholders,  claims  under any such
      blanket policy.

           (b) The Master  Servicer shall obtain and maintain at its own expense
      and keep in full force and effect  throughout the term of this Agreement a
      blanket  fidelity  bond  and an  errors  and  omissions  insurance  policy
      covering the Master  Servicer's  officers and  employees and other persons
      acting on behalf of the Master  Servicer in connection with its activities
      under this  Agreement.  The amount of coverage  shall be at least equal to
      the  coverage  that  would be  required  by FNMA or  FHLMC,  whichever  is
      greater,  with respect to the Master  Servicer if the Master Servicer were
      servicing and  administering  the Mortgage Loans for FNMA or FHLMC. In the
      event  that any such bond or policy  ceases to be in  effect,  the  Master
      Servicer  shall  obtain a  comparable  replacement  bond or policy from an
      issuer or insurer,  as the case may be, meeting the requirements,  if any,
      of the Program Guide and acceptable to the Company. Coverage of the Master
      Servicer  under a policy or bond  obtained by an  Affiliate  of the Master
      Servicer and providing the coverage required by this Section 3.12(b) shall
      satisfy the requirements of this Section 3.12(b).

     SECTION  3.13.   Enforcement   of  Due-on-Sale   Clauses;   Assumption  and
Modification Agreements; Certain Assignments.

           (a) When any  Mortgaged  Property is conveyed by the  Mortgagor,  the
      Master  Servicer or  Subservicer,  to the extent it has  knowledge of such
      conveyance, shall enforce any due-on-sale clause contained in any Mortgage
      Note  or  Mortgage,  to the  extent  permitted  under  applicable  law and
      governmental  regulations,  but only to the extent  that such  enforcement
      will not  adversely  affect or  jeopardize  coverage  under  any  Required
      Insurance Policy. Notwithstanding the foregoing:

               (i) the  Master  Servicer  shall not be  deemed to be in  default
          under this


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               Section 3.13(a) by reason of any transfer or assumption which the
               Master Servicer is restricted by law from preventing; and

                 (ii) if the Master  Servicer  determines  that it is reasonably
            likely that any  Mortgagor  will  bring,  or if any  Mortgagor  does
            bring,   legal  action  to  declare   invalid  or  otherwise   avoid
            enforcement of a due-on-sale  clause  contained in any Mortgage Note
            or Mortgage,  the Master  Servicer  shall not be required to enforce
            the due-on-sale clause or to contest such action.

           (b) Subject to the Master  Servicer's duty to enforce any due-on-sale
      clause to the extent set forth in Section 3.13(a),  in any case in which a
      Mortgaged Property is to be conveyed to a Person by a Mortgagor,  and such
      Person  is to  enter  into an  assumption  or  modification  agreement  or
      supplement to the Mortgage Note or Mortgage  which  requires the signature
      of the Trustee,  or if an instrument  of release  signed by the Trustee is
      required  releasing the Mortgagor from liability on the Mortgage Loan, the
      Master Servicer is authorized, subject to the requirements of the sentence
      next  following,  to execute and deliver,  on behalf of the  Trustee,  the
      assumption  agreement with the Person to whom the Mortgaged Property is to
      be conveyed and such modification  agreement or supplement to the Mortgage
      Note or Mortgage or other  instruments  as are  reasonable or necessary to
      carry out the terms of the  Mortgage  Note or  Mortgage  or  otherwise  to
      comply with any applicable  laws regarding  assumptions or the transfer of
      the Mortgaged  Property to such Person;  provided,  however,  none of such
      terms and requirements shall either (i) both (A) constitute a "significant
      modification"  effecting an exchange or  reissuance  of such Mortgage Loan
      under the REMIC  Provisions  and (B) cause  either  REMIC I or REMIC II to
      fail to  qualify  as a REMIC  under  the  Code,  or  (subject  to  Section
      10.01(f)),   result  in  the   imposition   of  any  tax  on   "prohibited
      transactions" or (ii) constitute  "contributions"  after the start-up date
      under the REMIC Provisions.  The Master Servicer shall execute and deliver
      such documents only if it reasonably determines that (i) its execution and
      delivery  thereof  will not  conflict  with or  violate  any terms of this
      Agreement or cause the unpaid balance and interest on the Mortgage Loan to
      be  uncollectible  in whole or in part,  (ii)  any  required  consents  of
      insurers  under any Required  Insurance  Policies  have been  obtained and
      (iii)  subsequent  to  the  closing  of  the  transaction   involving  the
      assumption  or transfer (A) the Mortgage  Loan will continue to be secured
      by a first  mortgage lien pursuant to the terms of the Mortgage,  (B) such
      transaction  will not  adversely  affect the  coverage  under any Required
      Insurance  Policies,  (C) the Mortgage  Loan will fully  amortize over the
      remaining  term  thereof,  (D)  no  material  term  of the  Mortgage  Loan
      (including  the interest  rate on the  Mortgage  Loan) will be altered nor
      will  the  term  of  the   Mortgage   Loan  be  changed  and  (E)  if  the
      seller/transferor  of  the  Mortgaged  Property  is  to be  released  from
      liability on the Mortgage Loan, such release will not (based on the Master
      Servicer's or Subservicer's good faith determination) adversely affect the
      collectability   of  the  Mortgage  Loan.   Upon  receipt  of  appropriate
      instructions  from the Master  Servicer in accordance  with the foregoing,
      the Trustee shall execute any necessary instruments for such assumption or
      substitution  of liability as directed in writing by the Master  Servicer.
      Upon the closing of the transactions  contemplated by such documents,  the
      Master  Servicer  shall cause the originals or true and correct  copies of
      the assumption  agreement,  the release (if any), or the  modification  or
      supplement to the Mortgage Note or Mortgage to be delivered to the Trustee
      or the Custodian  and  deposited  with the Mortgage File for such Mortgage
      Loan. Any fee collected by the Master Servicer or such related


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      Subservicer  for entering into an assumption or  substitution of liability
      agreement will be retained by the Master  Servicer or such  Subservicer as
      additional servicing compensation.

           (c) The Master Servicer or the related  Subservicer,  as the case may
      be, 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, with respect to a Cooperative  Loan, the
      related Cooperative Apartment) without any right of reimbursement 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  neither  REMIC I nor REMIC II would fail to continue to
      qualify as a REMIC  under the Code as a result  thereof  and  (subject  to
      Section   10.01(f))   that  no  tax  on   "prohibited   transactions"   or
      "contributions"  after the  startup day would be imposed on the REMIC as a
      result  thereof.  Any fee collected by the Master  Servicer or the related
      Subservicer  for processing  such a request will be retained by the Master
      Servicer or such Subservicer as additional servicing compensation.

           (d)  Subject to any other  applicable  terms and  conditions  of this
      Agreement, the Trustee and Master Servicer shall be entitled to approve an
      assignment  in lieu of  satisfaction  with respect to any  Mortgage  Loan,
      provided the obligee with respect to such  Mortgage  Loan  following  such
      proposed  assignment  provides  the  Trustee  and Master  Servicer  with a
      "Lender  Certification  for  Assignment  of  Mortgage  Loan"  in the  form
      attached  hereto as Exhibit O, in form and substance  satisfactory  to the
      Trustee  and  Master  Servicer,  providing  the  following:  (i)  that the
      Mortgage Loan is secured by Mortgaged  Property  located in a jurisdiction
      in which an  assignment  in lieu of  satisfaction  is required to preserve
      lien  priority,  minimize or avoid mortgage  recording  taxes or otherwise
      comply  with,  or  facilitate  a  refinancing  under,  the  laws  of  such
      jurisdiction;  (ii)  that  the  substance  of the  assignment  is,  and is
      intended to be, a  refinancing  of such Mortgage Loan and that the form of
      the  transaction is solely to comply with, or facilitate  the  transaction
      under,  such  local  laws;  (iii) that the  Mortgage  Loan  following  the
      proposed  assignment  will have a rate of interest  at least 0.25  percent
      below or above the rate of  interest on such  Mortgage  Loan prior to such
      proposed  assignment;  and (iv) that such  assignment is at the request of
      the  borrower  under  the  related  Mortgage  Loan.  Upon  approval  of an
      assignment in lieu of satisfaction  with respect to any Mortgage Loan, the
      Master  Servicer  shall  receive  cash in an  amount  equal to the  unpaid
      principal  balance of and accrued  interest on such  Mortgage Loan and the
      Master Servicer shall treat such amount as a Principal  Prepayment in Full
      with respect to such Mortgage Loan for all purposes hereof.

     SECTION 3.14.   Realization Upon Defaulted Mortgage Loans.

           (a) The Master Servicer shall foreclose upon or otherwise  comparably
      convert (which may include an REO Acquisition) the ownership of properties
      securing  such of the Mortgage  Loans as come into and continue in default
      and as to which no satisfactory arrangements can be made for collection of
      delinquent  payments  pursuant to Section 3.07.  In  connection  with such
      foreclosure or other  conversion,  the Master Servicer  shall,  consistent
      with Section 3.11,  follow such  practices and procedures as it shall deem
      necessary or


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      advisable,  as shall be normal and usual in its general mortgage servicing
      activities  and as shall be required or  permitted  by the Program  Guide;
      provided  that the  Master  Servicer  shall not be  liable in any  respect
      hereunder  if the Master  Servicer is acting in  connection  with any such
      foreclosure  or other  conversion in a manner that is consistent  with the
      provisions of this Agreement.  The Master Servicer,  however, shall not be
      required  to expend its own funds or incur other  reimbursable  charges in
      connection with any  foreclosure,  or attempted  foreclosure  which is not
      completed,  or towards the  restoration  of any  property  unless it shall
      determine (i) that such restoration  and/or  foreclosure will increase the
      proceeds of liquidation of the Mortgage Loan to Holders of Certificates of
      one or more Classes  after  reimbursement  to itself for such  expenses or
      charges and (ii) that such expenses or charges will be  recoverable  to it
      through  Liquidation   Proceeds,   Insurance  Proceeds,  or  REO  Proceeds
      (respecting  which it shall have priority for purposes of withdrawals from
      the  Custodial  Account  pursuant  to  Section  3.10,  whether or not such
      expenses and charges are  actually  recoverable  from related  Liquidation
      Proceeds,  Insurance  Proceeds  or REO  Proceeds).  In the event of such a
      determination by the Master Servicer pursuant to this Section 3.14(a), the
      Master  Servicer  shall  be  entitled  to  reimbursement  of such  amounts
      pursuant  to  Section  3.10.  In  addition  to the  foregoing,  the Master
      Servicer  shall  use its  best  reasonabe  efforts  to  realize  upon  any
      Additional  Collateral for such of the Additional Collateral Loans as come
      into and continue in default and as to which no satisfactory  arrangements
      can be made for  collection  of  delinquent  payments  pursuant to Section
      3.07;  provided  that the  Master  Servicer  shall  not,  on behalf of the
      Trustee,  obtain title to any such Additional Collateral as a result of or
      in lieu of the disposition thereof or otherwise; and provided further that
      (i) the Master  Servicer shall not proceed with respect to such Additional
      Collateral in any manner that would impair the ability to recover  against
      the related Mortgaged Property, and (ii) the Master Servicer shall proceed
      with any REO  Acquisition  in a manner that preserves the ability to apply
      the proceeds of such Additional  Collateral against amounts owed under the
      defaulted  Mortgage  Loan.  Any  proceeds  realized  from such  Additional
      Collateral  (other than  amounts to be released  to the  Mortgagor  or the
      related  guarantor in accordance  with procedures that the Master Servicer
      would follow in servicing  loans held for its own account,  subject to the
      terms and conditions of the related  Mortgage and Mortgage Note and to the
      terms and  conditions  of any  security  agreement,  guarantee  agreement,
      mortgage or other  agreement  governing the disposition of the proceeds of
      such Additional  Collateral) shall be deposited in the Custodial  Account,
      subject to withdrawal pursuant to Section 3.10. Any other payment received
      by the Master Servicer in respect of such Additional  Collateral  shall be
      deposited  in the  Custodial  Account  subject to  withdrawal  pursuant to
      Section 3.10.  Concurrently  with the foregoing,  the Master  Servicer may
      pursue any remedies that may be available in connection with a breach of a
      representation  and  warranty  with respect to any such  Mortgage  Loan in
      accordance  with Sections 2.03 and 2.04.  However,  the Master Servicer is
      not required to continue to pursue both foreclosure (or similar  remedies)
      with respect to the Mortgage Loans and remedies in connecion with a breach
      of a representation and warranty if the Master Servicer  determines in its
      reasonable  discretion  that one such remedy is more likely to result in a
      greater  recovery as to the Mortgage  Loan.  Upon the occurrence of a Cash
      Liquidation  or REO  Disposition,  following  the deposit in the Custodial
      Account of all Insurance Proceeds, Liquidation Proceeds and other payments
      and recoveries referred to in the definition of "Cash Liquidation" or "REO
      Disposition,"  as  applicable,  upon  receipt  by the  Trustee  of written
      notification of such deposit signed by a Servicing Officer,


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      the Trustee or any  Custodian,  as the case may be,  shall  release to the
      Master  Servicer the related  Mortgage  File and the Trustee shall execute
      and deliver such  instruments  of transfer or  assignment  prepared by the
      Master Servicer,  in each case without recourse,  as shall be necessary to
      vest in the  Master  Servicer  or its  designee,  as the case may be,  the
      related Mortgage Loan, and thereafter such Mortgage Loan shall not be part
      of the Trust Fund. Notwithstanding the foregoing or any other provision of
      this Agreement,  in the Master  Servicer's sole discretion with respect to
      any defaulted  Mortgage Loan or REO Property as to either of the following
      provisions,  (i) a Cash  Liquidation or REO  Disposition  may be deemed to
      have occurred if substantially all amounts expected by the Master Servicer
      to be received in connection with the related  defaulted  Mortgage Loan or
      REO Property have been received,  and (ii) for purposes of determining the
      amount of any Liquidation  Proceeds,  Insurance Proceeds,  REO Proceeds or
      any other unscheduled  collections or the amount of any Realized Loss, the
      Master  Servicer  may take into  account  minimal  amounts  of  additional
      receipts expected to be received or any estimated  additional  liquidation
      expenses  expected to be incurred in connection with the related defaulted
      Mortgage Loan or REO Property.

           (b) In the event that title to any Mortgaged  Property is acquired by
      REMIC  I as  an  REO  Property  by  foreclosure  or by  deed  in  lieu  of
      foreclosure,  the  deed or  certificate  of sale  shall be  issued  to the
      Trustee or to its nominee on behalf of Certificateholders. Notwithstanding
      any such  acquisition of title and  cancellation  of the related  Mortgage
      Loan,  such REO Property  shall  (except as otherwise  expressly  provided
      herein) be considered to be an  Outstanding  Mortgage Loan held in REMIC I
      until such time as the REO  Property  shall be sold.  Consistent  with the
      foregoing for purposes of all  calculations  hereunder so long as such REO
      Property shall be considered to be an  Outstanding  Mortgage Loan it shall
      be assumed that,  notwithstanding  that the indebtedness  evidenced by the
      related Mortgage Note shall have been  discharged,  such Mortgage Note and
      the  related  amortization  schedule  in  effect  at the  time of any such
      acquisition of title (after giving effect to any previous Curtailments and
      before  any  adjustment  thereto  by reason of any  bankruptcy  or similar
      proceeding or any  moratorium or similar waiver or grace period) remain in
      effect.

           (c) In the event that REMIC I acquires  any REO Property as aforesaid
      or  otherwise  in  connection  with a default  or  imminent  default  on a
      Mortgage Loan,  the Master  Servicer on behalf of REMIC I shall dispose of
      such REO  Property  within  three full years after the taxable year of its
      acquisition by REMIC I for purposes of Section  860G(a)(8) of the Code (or
      such shorter period as may be necessary under  applicable state (including
      any state in which such property is located) law to maintain the status of
      REMIC I as a REMIC under  applicable  state law and avoid taxes  resulting
      from such property  failing to be foreclosure  property  under  applicable
      state  law) or,  at the  expense  of REMIC I,  request,  more than 60 days
      before the day on which such  grace  period  would  otherwise  expire,  an
      extension  of such grace  period  unless the Master  Servicer  (subject to
      Section 10.01(f)) obtains for the Trustee an Opinion of Counsel, addressed
      to the Trustee and the Master Servicer,  to the effect that the holding by
      REMIC I of such REO Property  subsequent to such period will not result in
      the imposition of taxes on "prohibited transactions" as defined in Section
      860F of the  Code or  cause  REMIC I to fail to  qualify  as a REMIC  (for
      federal (or any  applicable  State or local)  income tax  purposes) at any
      time that any Uncertificated REMIC I Regular Interests are outstanding, in
      which case REMIC I may continue to hold such REO Property  (subject to any
      conditions  contained  in such Opinion of  Counsel).  The Master  Servicer
      shall be


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      entitled  to be  reimbursed  from  the  Custodial  Account  for any  costs
      incurred in  obtaining  such  Opinion of  Counsel,  as provided in Section
      3.10.  Notwithstanding  any  other  provision  of this  Agreement,  no REO
      Property acquired by REMIC I shall be rented (or allowed to continue to be
      rented) or  otherwise  used by or on behalf of REMIC I in such a manner or
      pursuant  to any terms that would (i) cause such REO  Property  to fail to
      qualify as "foreclosure property" within the meaning of Section 860G(a)(8)
      of the  Code or (ii)  subject  REMIC I to the  imposition  of any  federal
      income taxes on the income  earned from such REO  Property,  including any
      taxes imposed by reason of Section 860G(c) of the Code,  unless the Master
      Servicer has agreed to indemnify and hold harmless REMIC I with respect to
      the imposition of any such taxes.

           (d) The proceeds of any Cash Liquidation, REO Disposition or purchase
      or  repurchase  of any  Mortgage  Loan  pursuant  to  the  terms  of  this
      Agreement,  as  well  as  any  recovery  resulting  from a  collection  of
      Liquidation Proceeds,  Insurance Proceeds or REO Proceeds, will be applied
      in the  following  order of  priority:  first,  to  reimburse  the  Master
      Servicer  or  the  related   Subservicer   in   accordance   with  Section
      3.10(a)(ii);  second, to the  Certificateholders  to the extent of accrued
      and unpaid  interest  on the  Mortgage  Loan,  and any related REO Imputed
      Interest,  at the Net Mortgage  Rate (or the Modified Net Mortgage Rate in
      the  case of a  Modified  Mortgage  Loan)  to the Due  Date  prior  to the
      Distribution  Date on which such amounts are to be distributed;  third, to
      the Certificateholders as a recovery of principal on the Mortgage Loan (or
      REO  Property)(provided  that if any such Class of  Certificates  to which
      such Realized Loss was allocated is no longer outstanding, such subsequent
      recovery  shall be distributed to the persons who were the Holders of such
      Class of Certificates when it was retired);  fourth, to all Servicing Fees
      and Subservicing  Fees payable  therefrom (and the Master Servicer and the
      Subservicer shall have no claims for any deficiencies with respect to such
      fees  which  result  from  the  foregoing   allocation);   and  fifth,  to
      Foreclosure Profits.

           (e) In the event of a default on a Mortgage Loan one or more of whose
      obligors are not United States Persons, in connection with any foreclosure
      or acquisition of a deed in lieu of foreclosure (together,  "foreclosure")
      in  respect  of  such  Mortgage  Loan,  the  Master  Servicer  will  cause
      compliance  with the  provisions of Treasury  Regulation  Section  1.1445-
      2(d)(3) (or any successor thereto) necessary to assure that no withholding
      tax  obligation  arises with respect to the  proceeds of such  foreclosure
      except to the  extent,  if any,  that  proceeds  of such  foreclosure  are
      required to be remitted to the obligors on such Mortgage Loan.

     SECTION 3.15.   Trustee to Cooperate; Release of Mortgage Files.

           (a) Upon becoming  aware of the payment in full of any Mortgage Loan,
      or upon the receipt by the Master Servicer of a notification  that payment
      in full will be  escrowed in a manner  customary  for such  purposes,  the
      Master  Servicer  will  immediately  notify the  Trustee  (if it holds the
      related  Mortgage File) or the Custodian by a certification of a Servicing
      Officer (which  certification shall include a statement to the effect that
      all amounts  received or to be received in  connection  with such  payment
      which are required to be deposited in the  Custodial  Account  pursuant to
      Section 3.07 have been or will be so deposited),  substantially  in one of
      the forms attached hereto as Exhibit H, or, in the case of


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      the  Custodian,  an  electronic  request  in  a  form  acceptable  to  the
      Custodian, requesting delivery to it of the Mortgage File. Upon receipt of
      such  certification and request,  the Trustee shall promptly  release,  or
      cause the  Custodian to release,  the related  Mortgage File to the Master
      Servicer.  The Master Servicer is authorized to execute and deliver to the
      Mortgagor the request for reconveyance, deed of reconveyance or release or
      satisfaction  of mortgage  or such  instrument  releasing  the lien of the
      Mortgage,  together with the Mortgage Note with, as  appropriate,  written
      evidence of cancellation  thereon. No expenses incurred in connection with
      any instrument of satisfaction or deed of reconveyance shall be chargeable
      to the Custodial Account or the Certificate Account.

           (b)  From  time to  time  as is  appropriate  for  the  servicing  or
      foreclosure of any Mortgage Loan, the Master Servicer shall deliver to the
      Custodian,  with a copy  to the  Trustee,  a  certificate  of a  Servicing
      Officer  substantially  in one of the forms  attached as Exhibit H hereto,
      or,  in the  case  of  the  Custodian,  an  electronic  request  in a form
      acceptable to the  Custodian,  requesting  that  possession of all, or any
      document constituting part of, the Mortgage File be released to the Master
      Servicer  and  certifying  as to the reason for such release and that such
      release will not invalidate any insurance  coverage provided in respect of
      the Mortgage Loan under any Required Insurance Policy. Upon receipt of the
      foregoing,  the Trustee shall deliver,  or cause the Custodian to deliver,
      the Mortgage  File or any  document  therein to the Master  Servicer.  The
      Master Servicer shall cause each Mortgage File or any document  therein so
      released to be returned to the Trustee,  or the Custodian as agent for the
      Trustee when the need  therefor by the Master  Servicer no longer  exists,
      unless  (i) the  Mortgage  Loan has been  liquidated  and the  Liquidation
      Proceeds  relating  to  the  Mortgage  Loan  have  been  deposited  in the
      Custodial  Account or (ii) the  Mortgage  File or such  document  has been
      delivered directly or through a Subservicer to an attorney, or to a public
      trustee or other  public  official  as required  by law,  for  purposes of
      initiating  or  pursuing  legal  action  or  other   proceedings  for  the
      foreclosure of the Mortgaged Property either judicially or non-judicially,
      and the Master Servicer has delivered directly or through a Subservicer to
      the Trustee a certificate of a Servicing Officer certifying as to the name
      and address of the Person to which such Mortgage File or such document was
      delivered  and the purpose or purposes of such  delivery.  In the event of
      the  liquidation of a Mortgage Loan, the Trustee shall deliver the Request
      for Release with respect  thereto to the Master  Servicer  upon deposit of
      the related Liquidation Proceeds in the Custodial Account.

           (c) The Trustee or the Master Servicer on the Trustee's  behalf shall
      execute  and  deliver  to the Master  Servicer,  if  necessary,  any court
      pleadings, requests for trustee's sale or other documents necessary to the
      foreclosure or trustee's sale in respect of a Mortgaged Property or to any
      legal  action  brought to obtain  judgment  against any  Mortgagor  on the
      Mortgage  Note or  Mortgage  or to  obtain a  deficiency  judgment,  or to
      enforce any other  remedies or rights  provided  by the  Mortgage  Note or
      Mortgage or otherwise  available at law or in equity.  Together  with such
      documents or pleadings  (if signed by the  Trustee),  the Master  Servicer
      shall  deliver  to  the  Trustee  a  certificate  of a  Servicing  Officer
      requesting that such pleadings or documents be executed by the Trustee and
      certifying  as to the reason such  documents or pleadings are required and
      that the execution and delivery thereof by the Trustee will not invalidate
      any insurance  coverage under any Required  Insurance Policy or invalidate
      or otherwise  affect the lien of the Mortgage,  except for the termination
      of such a lien upon completion of the foreclosure or trustee's sale.


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     SECTION 3.16.   Servicing and Other Compensation; Compensating Interest.

           (a)  The  Master   Servicer,   as  compensation  for  its  activities
      hereunder,  shall be  entitled  to receive on each  Distribution  Date the
      amounts  provided  for by  clauses  (iii),  (iv),  (v) and (vi) of Section
      3.10(a), subject to clause (e) below. The amount of servicing compensation
      provided  for in  such  clauses  shall  be  accounted  for  on a  Mortgage
      Loan-by-Mortgage  Loan  basis.  In the event  that  Liquidation  Proceeds,
      Insurance Proceeds and REO Proceeds (net of amounts reimbursable therefrom
      pursuant to Section  3.10(a)(ii)) in respect of a Cash  Liquidation or REO
      Disposition exceed the unpaid principal balance of such Mortgage Loan plus
      unpaid interest  accrued thereon  (including REO Imputed  Interest) at the
      related Net Mortgage  Rate (or the Modified Net Mortgage  Rate in the case
      of a Modified  Mortgage  Loan),  the Master  Servicer shall be entitled to
      retain therefrom and to pay to itself and/or the related Subservicer,  any
      Foreclosure  Profits and any Servicing Fee or Subservicing  Fee considered
      to be accrued but unpaid.

           (b)  Additional  servicing  compensation  in the  form of  prepayment
      charges,  assumption  fees,  late payment  charges,  investment  income on
      amounts in the Custodial  Account or the Certificate  Account or otherwise
      shall be retained by the Master  Servicer or the Subservicer to the extent
      provided herein, subject to clause (e) below.

           (c) The Master  Servicer  shall be  required  to pay,  or cause to be
      paid,  all  expenses  incurred  by it in  connection  with  its  servicing
      activities  hereunder  (including  payment  of  premiums  for the  Primary
      Insurance  Policies,  if any, to the extent such premiums are not required
      to be paid by the  related  Mortgagors,  and the fees and  expenses of the
      Trustee and any  Custodian)  and shall not be  entitled  to  reimbursement
      therefor except as specifically provided in Sections 3.10 and 3.14.

           (d) The Master Servicer's right to receive servicing compensation may
      not be  transferred  in whole or in part  except  in  connection  with the
      transfer  of all of its  responsibilities  and  obligations  of the Master
      Servicer under this Agreement.

           (e)  Notwithstanding  any  other  provision  herein,  the  amount  of
      servicing  compensation  that the Master  Servicer  shall be  entitled  to
      receive  for its  activities  hereunder  for  the  period  ending  on each
      Distribution Date shall be reduced (but not below zero) by an amount equal
      to  Compensating  Interest  (if  any)  for such  Distribution  Date.  Such
      reduction  shall be applied during such period as follows:  first,  to any
      Servicing Fee or Subservicing Fee to which the Master Servicer is entitled
      pursuant to Section  3.10(a)(iii);  second, to any income or gain realized
      from  any  investment  of  funds  held  in the  Custodial  Account  or the
      Certificate  Account to which the Master Servicer is entitled  pursuant to
      Sections  3.07(c) or 4.01(b),  respectively;  and third, to any amounts of
      servicing  compensation to which the Master Servicer is entitled  pursuant
      to  Section  3.10(a)(v)  or (vi).  In making  such  reduction,  the Master
      Servicer (i) will not withdraw from the Custodial  Account any such amount
      representing all or a portion of the Servicing Fee to which it is entitled
      pursuant  to  Section  3.10(a)(iii);  (ii)  will  not  withdraw  from  the
      Custodial  Account or  Certificate  Account any such amount to which it is
      entitled  pursuant  to  Section  3.07(c)  or  4.01(b)  and (iii)  will not
      withdraw  from  the  Custodial   Account  any  such  amount  of  servicing
      compensation  to which it is entitled  pursuant to Section  3.10(a)(v)  or
      (vi).


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     SECTION 3.17.   Reports to the Trustee and the Company.

      Not later  than  fifteen  days after each  Distribution  Date,  the Master
Servicer shall forward to the Trustee and the Company a statement,  certified by
a Servicing Officer, setting forth the status of the Custodial Account as of the
close of business on such  Distribution Date as it relates to the Mortgage Loans
and showing, for the period covered by such statement, the aggregate of deposits
in or  withdrawals  from the Custodial  Account in respect of the Mortgage Loans
for each  category of deposit  specified  in Section  3.07 and each  category of
withdrawal specified in Section 3.10.

     SECTION 3.18.   Annual Statement as to Compliance.

      The Master  Servicer  will  deliver to the  Company  and the Trustee on or
before March 31 of each year,  beginning  with the first March 31 that occurs at
least six months after the Cut-off Date, an Officers' Certificate stating, as to
each signer thereof,  that (i) a review of the activities of the Master Servicer
during the preceding  calendar  year related to its servicing of mortgage  loans
and its  performance  under pooling and  servicing  agreements,  including  this
Agreement,  has been made under such officers' supervision,  (ii) to the best of
such officers' knowledge, based on such review, the Master Servicer has complied
in all material respects with the minimum  servicing  standards set forth in the
Uniform Single Attestation Program for Mortgage Bankers and has fulfilled all of
its material  obligations  relating to this  Agreement in all material  respects
throughout  such year,  or, if there has been material  noncompliance  with such
servicing  standards or a default in the fulfillment in all material respects of
any such obligation  relating to this Agreement,  such statement shall include a
description of such noncompliance or specify each such default,  as the case may
be,  known to such  officer  and the nature and status  thereof and (iii) to the
best of such officers' knowledge,  each Subservicer has complied in all material
respects with the minimum  servicing  standards set forth in the Uniform  Single
Attestation  Program for Mortgage  Bankers and has fulfilled all of its material
obligations under its Subservicing Agreement in all material respects throughout
such year,  or, if there has been  material  noncompliance  with such  servicing
standards or a material default in the fulfillment of such obligations  relating
to  this  Agreement,   such  statement  shall  include  a  description  of  such
noncompliance  or specify each such  default,  as the case may be, known to such
officer and the nature and status thereof.

     SECTION 3.19.   Annual Independent Public Accountants' Servicing Report.

      On or before March 31 of each year, beginning with the first March 31 that
occurs at least six months after the Cut-off  Date,  the Master  Servicer at its
expense shall cause a firm of  independent  public  accountants,  which shall be
members of the American Institute of Certified Public Accountants,  to furnish a
report to the Company and the Trustee  stating its opinion that, on the basis of
an examination conducted by such firm substantially in accordance with standards
established  by the  American  Institute of Certified  Public  Accountants,  the
assertions  made pursuant to Section 3.18 regarding  compliance with the minimum
servicing  standards  set forth in the Uniform  Single  Attestation  Program for
Mortgage  Bankers  during the  preceding  calendar year are fairly stated in all
material respects,  subject to such exceptions and other qualifications that, in
the opinion of such firm, such  accounting  standards  require it to report.  In
rendering  such  statement,  such firm may rely,  as to matters  relating to the
direct servicing of mortgage loans by Subservicers,  upon comparable  statements
for examinations  conducted by independent public  accountants  substantially in
accordance  with standards  established  by the American  Institute of Certified
Public Accountants


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(rendered within one year of such statement) with respect to such Subservicers.

     SECTION 3.20.   Rights of the Company in Respect of the Master Servicer.

      The Master  Servicer  shall afford the Company,  upon  reasonable  notice,
during  normal  business  hours access to all records  maintained  by the Master
Servicer  in  respect  of its rights  and  obligations  hereunder  and access to
officers of the Master Servicer responsible for such obligations.  Upon request,
the Master  Servicer  shall  furnish the Company with its most recent  financial
statements and such other information as the Master Servicer possesses regarding
its business,  affairs,  property and  condition,  financial or  otherwise.  The
Master   Servicer  shall  also  cooperate  with  all  reasonable   requests  for
information  including,  but not limited to, notices, tapes and copies of files,
regarding  itself,  the Mortgage  Loans or the  Certificates  from any Person or
Persons identified by the Company or Residential  Funding.  The Company may, but
is not obligated to, enforce the  obligations of the Master  Servicer  hereunder
and may, but is not obligated to, perform,  or cause a designee to perform,  any
defaulted  obligation of the Master Servicer hereunder or exercise the rights of
the Master  Servicer  hereunder;  provided that the Master Servicer shall not be
relieved of any of its  obligations  hereunder by virtue of such  performance by
the Company or its designee.  The Company shall not have any  responsibility  or
liability  for any action or failure  to act by the Master  Servicer  and is not
obligated  to  supervise  the  performance  of the  Master  Servicer  under this
Agreement or otherwise.

     SECTION 3.21.   Administration of Buydown Funds.

           (a) With respect to any Buydown  Mortgage Loan, the  Subservicer  has
      deposited  Buydown Funds in an account that satisfies the requirements for
      a Subservicing Account (the "Buydown Account").  The Master Servicer shall
      cause the  Subservicing  Agreement  to require  that upon receipt from the
      Mortgagor of the amount due on a Due Date for each Buydown  Mortgage Loan,
      the Subservicer  will withdraw from the Buydown Account the  predetermined
      amount that, when added to the amount due on such date from the Mortgagor,
      equals the full  Monthly  Payment and transmit  that amount in  accordance
      with the  terms  of the  Subservicing  Agreement  to the  Master  Servicer
      together with the related payment made by the Mortgagor or advanced by the
      Subservicer.

           (b) If the Mortgagor on a Buydown  Mortgage Loan prepays such loan in
      its entirety  during the period (the "Buydown  Period") when Buydown Funds
      are required to be applied to such Buydown  Mortgage Loan, the Subservicer
      shall be  required  to  withdraw  from the  Buydown  Account and remit any
      Buydown  Funds  remaining in the Buydown  Account in  accordance  with the
      related  buydown  agreement.  The  amount of  Buydown  Funds  which may be
      remitted in accordance with the related  buydown  agreement may reduce the
      amount  required to be paid by the  Mortgagor  to fully prepay the related
      Mortgage  Loan.  If the  Mortgagor on a Buydown  Mortgage Loan defaults on
      such  Mortgage  Loan during the Buydown  Period and the property  securing
      such Buydown  Mortgage Loan is sold in the liquidation  thereof (either by
      the Master  Servicer or the insurer  under any related  Primary  Insurance
      Policy),  the  Subservicer  shall be required to withdraw from the Buydown
      Account the Buydown Funds for such Buydown Mortgage Loan still held in the
      Buydown  Account and remit the same to the Master  Servicer in  accordance
      with the terms of the Subservicing  Agreement for deposit in the Custodial
      Account or, if instructed by the Master Servicer, pay


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      to the insurer under any related Primary Insurance Policy if the Mortgaged
      Property is  transferred  to such insurer and such insurer pays all of the
      loss incurred in respect of such default.  Any amount so remitted pursuant
      to the preceding  sentence will be deemed to reduce the amount owed on the
      Mortgage Loan.

ARTICLE IV

                        PAYMENTS TO CERTIFICATEHOLDERS

     SECTION 4.01.   Certificate Account.

           (a) The Master  Servicer on behalf of the Trustee shall establish and
      maintain a Certificate Account in which the Master Servicer shall cause to
      be deposited on behalf of the Trustee on or before 2:00 P.M. New York time
      on each  Certificate  Account Deposit Date by wire transfer of immediately
      available  funds an  amount  equal to the sum of (i) any  Advance  for the
      immediately  succeeding  Distribution Date, (ii) any amount required to be
      deposited in the Certificate  Account pursuant to Section  3.12(a),  (iii)
      any amount required to be deposited in the Certificate Account pursuant to
      Section  3.16(e) or Section  4.07,  (iv) any  amount  required  to be paid
      pursuant  to Section  9.01,  and (v) all other  amounts  constituting  the
      Available Distribution Amount for the immediately succeeding  Distribution
      Date.

           (b) The Trustee shall, upon written request from the Master Servicer,
      invest or cause the institution  maintaining  the  Certificate  Account to
      invest  the funds in the  Certificate  Account  in  Permitted  Investments
      designated   in  the  name  of  the   Trustee   for  the  benefit  of  the
      Certificateholders,  which shall  mature not later than the  Business  Day
      next  preceding  the  Distribution  Date next  following  the date of such
      investment  (except that (i) any investment in the institution  with which
      the Certificate Account is maintained may mature on such Distribution Date
      and (ii) any other investment may mature on such  Distribution Date if the
      Trustee shall advance funds on such  Distribution  Date to the Certificate
      Account in the  amount  payable on such  investment  on such  Distribution
      Date,   pending   receipt   thereof  to  the  extent   necessary  to  make
      distributions  on the  Certificates)  and shall not be sold or disposed of
      prior to  maturity.  Subject  to  Section  3.16(e),  all  income  and gain
      realized from any such  investment  shall be for the benefit of the Master
      Servicer  and shall be  subject  to its  withdrawal  or order from time to
      time. The amount of any losses incurred in respect of any such investments
      shall be deposited in the  Certificate  Account by the Master Servicer out
      of  its  own  funds   immediately   as  realized   without  any  right  of
      reimbursement.

     SECTION 4.02.   Distributions.

           (a) On each  Distribution  Date (x) the Master  Servicer on behalf of
      the  Trustee or (y) the  Paying  Agent  appointed  by the  Trustee,  shall
      distribute to the Master Servicer,  in the case of a distribution pursuant
      to Section  4.02(a)(iii),  the amount  required to be  distributed  to the
      Master Servicer or a Subservicer pursuant to Section 4.02(a)(iii),  and to
      each  Certificateholder of record on the next preceding Record Date (other
      than as provided in Section 9.01 respecting the final distribution) either
      in  immediately  available  funds (by wire  transfer or  otherwise) to the
      account  of  such  Certificateholder  at a bank  or  other  entity  having
      appropriate facilities therefor, if such Certificateholder has so notified
      the Master


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      Servicer  or  the  Paying  Agent,   as  the  case  may  be,  or,  if  such
      Certificateholder  has not so notified  the Master  Servicer or the Paying
      Agent by the Record Date, by check mailed to such Certificateholder at the
      address  of  such  Holder  appearing  in  the  Certificate  Register  such
      Certificateholder's  share  (which share (A) with respect to each Class of
      Certificates  (other  than any  Subclass  of the Class A-V  Certificates),
      shall be based on the aggregate of the Percentage Interests represented by
      Certificates  of the  applicable  Class  held by such  Holder  or (B) with
      respect to any Subclass of the Class A-V  Certificates,  shall be equal to
      the amount (if any)  distributed  pursuant to Section  4.02(a)(i) below to
      each  Holder of a  Subclass  thereof)  of the  following  amounts,  in the
      following  order  of  priority  (subject  to  the  provisions  of  Section
      4.02(b)), in each case to the extent of the Available Distribution Amount:

                 (i) to the Holders of the Senior  Certificates  (other than the
            Class  A-P  Certificates)  on a pro  rata  basis  based  on  Accrued
            Certificate  Interest payable on such  Certificates  with respect to
            such Distribution Date, Accrued Certificate Interest on such Classes
            of Certificates  (or  Subclasses,  if any, with respect to the Class
            A-V  Certificates)  for such  Distribution  Date,  plus any  Accrued
            Certificate  Interest  thereon  remaining  unpaid from any  previous
            Distribution  Date except as provided in the last  paragraph of this
            Section 4.02(a); and

                 (ii) (X) to the  Class  A-P  Certificateholders,  the Class A-P
            Principal Distribution Amount; and

                        (Y) to the  Holders  of the Senior  Certificates  (other
            than Class A-P Certificates) in the priorities and amounts set forth
            in Section  4.02(b)(ii) and (iii) and Sections  4.02(c) and (d), the
            sum of the following  (applied to reduce the  Certificate  Principal
            Balances of such Senior Certificates):

                              (A) the Senior  Percentage  for such  Distribution
                        Date times the sum of the following:

                                   (i) the  principal  portion  of each  Monthly
                              Payment  due during the related Due Period on each
                              Outstanding  Mortgage Loan (other than the related
                              Discount Fraction of the principal portion of such
                              payment with respect to a Discount Mortgage Loan),
                              whether or not received on or prior to the related
                              Determination Date, minus the principal portion of
                              any Debt Service Reduction (other than the related
                              Discount Fraction of the principal portion of such
                              Debt  Service  Reductions  with  respect  to  each
                              Discount  Mortgage Loan) which together with other
                              Bankruptcy Losses exceeds the Bankruptcy Amount;

                                   (ii)  the  Stated  Principal  Balance  of any
                              Mortgage  Loan  repurchased   during  the  related
                              Prepayment  Period  (or  deemed  to  have  been so
                              repurchased  in accordance  with Section  3.07(b))
                              pursuant to Section 2.02, 2.03, 2.04 or 4.07


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                              and the amount of any  shortfall  deposited in the
                              Custodial   Account   in   connection   with   the
                              substitution  of a Deleted  Mortgage Loan pursuant
                              to  Section   2.03  or  2.04  during  the  related
                              Prepayment Period (other than the related Discount
                              Fraction  of  such  Stated  Principal  Balance  or
                              shortfall  with  respect  to a  Discount  Mortgage
                              Loan); and

                                   (iii)  the  principal  portion  of all  other
                              unscheduled   collections  (other  than  Principal
                              Prepayments in Full and  Curtailments  and amounts
                              received in connection with a Cash  Liquidation or
                              REO  Disposition  of a Mortgage Loan  described in
                              Section   4.02(a)(ii)(Y)(B),   including   without
                              limitation    Insurance   Proceeds,    Liquidation
                              Proceeds  and REO  Proceeds)  received  during the
                              related  Prepayment Period (or deemed to have been
                              so received in accordance with Section 3.07(b)) to
                              the  extent  applied  by the  Master  Servicer  as
                              recoveries  of principal  of the related  Mortgage
                              Loan  pursuant  to Section  3.14  (other  than the
                              related Discount Fraction of the principal portion
                              of such unscheduled collections, with respect to a
                              Discount Mortgage Loan);

                              (B) with respect to each Mortgage Loan for which a
                        Cash  Liquidation or a REO  Disposition  occurred during
                        the  related  Prepayment  Period  (or was deemed to have
                        occurred  during such period in accordance  with Section
                        3.07(b)) and did not result in any Excess Special Hazard
                        Losses, Excess Fraud Losses, Excess Bankruptcy Losses or
                        Extraordinary  Losses,  an amount equal to the lesser of
                        (a) the Senior  Percentage  for such  Distribution  Date
                        times the Stated Principal Balance of such Mortgage Loan
                        (other than the related Discount Fraction of such Stated
                        Principal  Balance,  with respect to a Discount Mortgage
                        Loan)  and  (b)  the  Senior  Accelerated   Distribution
                        Percentage for such  Distribution Date times the related
                        unscheduled  collections  (including  without limitation
                        Insurance   Proceeds,   Liquidation   Proceeds  and  REO
                        Proceeds) to the extent  applied by the Master  Servicer
                        as recoveries of principal of the related  Mortgage Loan
                        pursuant  to  Section  3.14 (in each case other than the
                        portion of such unscheduled collections, with respect to
                        a   Discount   Mortgage   Loan   included   in   Section
                        4.02(b)(i)(C));

                              (C) the Senior Accelerated Distribution Percentage
                        for such  Distribution  Date times the  aggregate of all
                        Principal  Prepayments in Full and Curtailments received
                        in the related Prepayment Period (other than the related
                        Discount Fraction of such Principal  Prepayments in Full
                        and  Curtailments,  with respect to a Discount  Mortgage
                        Loan);

                              (D) any Excess  Subordinate  Principal  Amount for
such


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                        Distribution Date; and

                              (E) any amounts  described in subsection  (ii)(Y),
                        clauses  (A)  through (C) of this  Section  4.02(a),  as
                        determined  for any previous  Distribution  Date,  which
                        remain unpaid after  application  of amounts  previously
                        distributed  pursuant  to this  clause (E) to the extent
                        that  such  amounts  are not  attributable  to  Realized
                        Losses  which  have  been   allocated  to  the  Class  M
                        Certificates or Class B Certificates;

                 (iii) if the  Certificate  Principal  Balances  of the  Class M
            Certificates and Class B Certificates have not been reduced to zero,
            to the Master Servicer or a Subservicer, by remitting for deposit to
            the Custodial Account, to the extent of and in reimbursement for any
            Advances or Subservicer Advances previously made with respect to any
            Mortgage Loan or REO Property which remain  unreimbursed in whole or
            in part following the Cash  Liquidation  or REO  Disposition of such
            Mortgage  Loan or REO  Property,  minus any such  Advances that were
            made with  respect  to  delinquencies  that  ultimately  constituted
            Excess Special Hazard Losses, Excess Fraud Losses, Excess Bankruptcy
            Losses or Extraordinary Losses;

                 (iv) to the Holders of the Class M-1 Certificates,  the Accrued
            Certificate  Interest thereon for such  Distribution  Date, plus any
            Accrued  Certificate  Interest  thereon  remaining  unpaid  from any
            previous Distribution Date, except as provided below;

                 (v) to the  Holders  of the Class M-1  Certificates,  an amount
            equal to (x) the Subordinate Principal  Distribution Amount for such
            Class of  Certificates  for such  Distribution  Date,  minus (y) the
            amount of any Class A-P Collection  Shortfalls for such Distribution
            Date or remaining unpaid for all previous Distribution Dates, to the
            extent the  amounts  available  pursuant  to clause (x) of  Sections
            4.02(a)(vii),  (ix), (xi),  (xiii),  (xiv) and (xv) are insufficient
            therefor,  applied in reduction of the Certificate Principal Balance
            of the Class M-1 Certificates;

                 (vi) to the Holders of the Class M-2 Certificates,  the Accrued
            Certificate  Interest thereon for such  Distribution  Date, plus any
            Accrued  Certificate  Interest  thereon  remaining  unpaid  from any
            previous Distribution Date, except as provided below;

                 (vii) to the Holders of the Class M-2  Certificates,  an amount
            equal to (x) the Subordinate Principal  Distribution Amount for such
            Class of  Certificates  for such  Distribution  Date,  minus (y) the
            amount of any Class A-P Collection  Shortfalls for such Distribution
            Date or remaining unpaid for all previous Distribution Dates, to the
            extent the  amounts  available  pursuant  to clause (x) of  Sections
            4.02(a)(ix), (xi), (xiii), (xiv) and (xv) are insufficient therefor,
            applied in reduction  of the  Certificate  Principal  Balance of the
            Class M-2 Certificates;

                 (viii)  to the  Holders  of the  Class  M-3  Certificates,  the
Accrued Certificate


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            Interest  thereon  for such  Distribution  Date,  plus  any  Accrued
            Certificate  Interest  thereon  remaining  unpaid from any  previous
            Distribution Date, except as provided below;

                 (ix) to the  Holders of the Class M-3  Certificates,  an amount
            equal to (x) the Subordinate Principal  Distribution Amount for such
            Class of  Certificates  for such  Distribution  Date  minus  (y) the
            amount of any Class A-P Collection  Shortfalls for such Distribution
            Date or remaining unpaid for all previous Distribution Dates, to the
            extent the  amounts  available  pursuant  to clause (x) of  Sections
            4.02(a)(xi),  (xiii),  (xiv)  and  (xv) are  insufficient  therefor,
            applied in reduction  of the  Certificate  Principal  Balance of the
            Class M-3 Certificates;

                 (x) to the Holders of the Class B-1  Certificates,  the Accrued
            Certificate  Interest thereon for such  Distribution  Date, plus any
            Accrued  Certificate  Interest  thereon  remaining  unpaid  from any
            previous Distribution Date, except as provided below;

                 (xi) to the  Holders of the Class B-1  Certificates,  an amount
            equal to (x) the Subordinate Principal  Distribution Amount for such
            Class of  Certificates  for such  Distribution  Date  minus  (y) the
            amount of any Class A-P Collection  Shortfalls for such Distribution
            Date or remaining unpaid for all previous Distribution Dates, to the
            extent the  amounts  available  pursuant  to clause (x) of  Sections
            4.02(a)(xiii),  (xiv) and (xv) are insufficient therefor, applied in
            reduction  of the  Certificate  Principal  Balance  of the Class B-1
            Certificates;

                 (xii) to the Holders of the Class B-2 Certificates, the Accrued
            Certificate  Interest thereon for such  Distribution  Date, plus any
            Accrued  Certificate  Interest  thereon  remaining  unpaid  from any
            previous Distribution Date, except as provided below;

                 (xiii) to the Holders of the Class B-2 Certificates,  an amount
            equal to (x) the Subordinate Principal  Distribution Amount for such
            Class of  Certificates  for such  Distribution  Date  minus  (y) the
            amount of any Class A-P Collection  Shortfalls for such Distribution
            Date or remaining unpaid for all previous Distribution Dates, to the
            extent the  amounts  available  pursuant  to clause (x) of  Sections
            4.02(a)(xiv)  and  (xv)  are  insufficient   therefor,   applied  in
            reduction  of the  Certificate  Principal  Balance  of the Class B-2
            Certificates;

                 (xiv) to the Holders of the Class B-3  Certificates,  an amount
            equal  to (x) the  Accrued  Certificate  Interest  thereon  for such
            Distribution  Date, plus any Accrued  Certificate  Interest  thereon
            remaining  unpaid from any  previous  Distribution  Date,  except as
            provided  below  minus (y) the  amount  of any Class A-P  Collection
            Shortfalls for such  Distribution  Date or remaining  unpaid for all
            previous  Distribution  Dates to the  extent the  amounts  available
            pursuant  to clause  (x) of  Section  4.02(a)(xv)  are  insufficient
            therefor;

                 (xv) to the  Holders of the Class B-3  Certificates,  an amount
equal to (x)


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            the  Subordinate  Principal  Distribution  Amount  for such Class of
            Certificates for such  Distribution Date minus (y) the amount of any
            Class  A-P  Collection  Shortfalls  for  such  Distribution  Date or
            remaining  unpaid for all  previous  Distribution  Dates  applied in
            reduction  of the  Certificate  Principal  Balance  of the Class B-3
            Certificates;

                 (xvi) to the Holders of the Senior Certificates in the priority
            set forth in Section 4.02(b),  the portion, if any, of the Available
            Distribution  Amount  remaining  after the foregoing  distributions,
            applied to reduce the Certificate  Principal Balances of such Senior
            Certificates,  but  in no  event  more  than  the  aggregate  of the
            outstanding  Certificate  Principal  Balances  of each such Class of
            Senior  Certificates,  and  thereafter,  to each  Class  of  Class M
            Certificates  then  outstanding  beginning  with such Class with the
            lowest   numerical   designation,   any  portion  of  the  Available
            Distribution  Amount  remaining after the Senior  Certificates  have
            been retired, applied to reduce the Certificate Principal Balance of
            each such Class of Class M  Certificates,  but in no event more than
            the outstanding  Certificate Principal Balance of each such Class of
            Class M  Certificates;  and thereafter to each such Class of Class B
            Certificates  then  outstanding  beginning  with such Class with the
            lowest   numerical   designation,   any  portion  of  the  Available
            Distribution  Amount  remaining after the Class M Certificates  have
            been retired, applied to reduce the Certificate Principal Balance of
            each such Class of Class B  Certificates,  but in no event more than
            the outstanding  Certificate Principal Balance of each such Class of
            Class B Certificates; and

                 (xvii) to the Class R Certificateholders,  the balance, if any,
            of the Available Distribution Amount.

                  Notwithstanding the foregoing,  on any Distribution Date, with
      respect  to  the  Class  of  Class  B  Certificates  outstanding  on  such
      Distribution Date with the highest numerical designation,  or in the event
      the Class B Certificates are no longer  outstanding,  the Class of Class M
      Certificates then outstanding with the highest numerical  designation,  or
      in the event  the Class B  Certificates  and Class M  Certificates  are no
      longer outstanding, the Senior Certificates,  Accrued Certificate Interest
      thereon  remaining  unpaid  from any  previous  Distribution  Date will be
      distributable  only to the extent  that such  unpaid  Accrued  Certificate
      Interest was attributable to interest  shortfalls  relating to the failure
      of the Master Servicer to make any required Advance,  or the determination
      by the Master Servicer that any proposed Advance would be a Nonrecoverable
      Advance with respect to the related Mortgage Loan where such Mortgage Loan
      has not yet been the subject of a Cash Liquidation or REO Disposition.

           (b) Distributions of principal on the Senior Certificates (other than
      the  Class  A-6   Certificates   and  Class  A-V   Certificates)  on  each
      Distribution  Date occurring prior to the occurrence of the Credit Support
      Depletion Date will be made as follows:

                 (i) first, to the Class A-P Certificates, until the Certificate
            Principal  Balance thereof is reduced to zero, an amount (the "Class
            A-P Principal Distribution Amount") equal to the aggregate of:


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                              (A) the related Discount Fraction of the principal
                        portion  of  each  Monthly   Payment  on  each  Discount
                        Mortgage Loan due during the related Due Period, whether
                        or not received on or prior to the related Determination
                        Date,  minus  the  Discount  Fraction  of the  principal
                        portion of any  related  Debt  Service  Reduction  which
                        together  with  other  Bankruptcy   Losses  exceeds  the
                        Bankruptcy Amount;

                              (B) the related Discount Fraction of the principal
                        portion of all unscheduled  collections on each Discount
                        Mortgage  Loan received  during the  preceding  calendar
                        month (other than amounts  received in connection with a
                        Cash  Liquidation  or  REO  Disposition  of  a  Discount
                        Mortgage Loan described in clause (C) below),  including
                        Principal   Prepayments   in  Full,   Curtailments   and
                        repurchases  (including deemed repurchases under Section
                        3.07(b)) of Discount  Mortgage Loans (or, in the case of
                        a substitution of a Deleted  Mortgage Loan, the Discount
                        Fraction of the amount of any shortfall deposited in the
                        Custodial Account in connection with such substitution);

                              (C) in connection with the Cash Liquidation or REO
                        Disposition  of a  Discount  Mortgage  Loan that did not
                        result in any Excess Special Hazard Losses, Excess Fraud
                        Losses,   Excess   Bankruptcy  Losses  or  Extraordinary
                        Losses,  an  amount  equal  to the  lesser  of  (1)  the
                        applicable  Discount  Fraction  of the Stated  Principal
                        Balance of such Discount Mortgage Loan immediately prior
                        to such  Distribution  Date and (2) the aggregate amount
                        of the  collections  on such Mortgage Loan to the extent
                        applied as recoveries of principal;

                              (D) any amounts  allocable  to  principal  for any
                        previous   Distribution  Date  (calculated  pursuant  to
                        clauses    (A)    through   (C)   above)   that   remain
                        undistributed; and

                              (E)  the  amount  of  any  Class  A-P   Collection
                        Shortfalls for such  Distribution Date and the amount of
                        any Class A-P Collection Shortfalls remaining unpaid for
                        all previous  Distribution Dates, but only to the extent
                        of the Eligible Funds for such Distribution Date; and

                 (ii)  the  Senior  Principal   Distribution   Amount  shall  be
            distributed  to the  Class A-4  Certificates,  in  reduction  of the
            Certificate  Principal  Balance  thereof,  in an amount equal to the
            lesser of (x) the Senior Principal  Distribution  Amount and (y) the
            sum of the following:

                              (A) the Lockout Scheduled  Percentage of the Class
                        A-4   Certificates'   pro  rata  share   (based  on  the
                        Certificate  Principal  Balance thereof  relative to the
                        aggregate Certificate Principal Balance of all


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                        classes of Senior Certificates (other than the Class A-P
                        Certificates))  of  the  aggregate  of  the  collections
                        described in (A), (B) and (E) of Section  4.02(a)(ii)(Y)
                        with  application  of the Senior  Percentage  and Senior
                        Accelerated Distribution Percentage; and

                              (B) the Lockout Prepayment Percentage of the Class
                        A-4   Certificates'   pro  rata  share   (based  on  the
                        Certificate  Principal  Balance thereof  relative to the
                        aggregate  Certificate  Principal Balance of all classes
                        of  Senior   Certificates  (other  than  the  Class  A-P
                        Certificates))  of  the  aggregate  of  the  collections
                        described in clause (C) of Section  4.02(a)(ii)(Y)  with
                        application  of  the  Senior  Accelerated   Distribution
                        Percentage;

                        provided that, if the aggregate of the amounts set forth
                        in  clauses   (A),   (B),   (C),   and  (E)  of  Section
                        4.02(a)(ii)(Y) is more than the balance of the Available
                        Distribution  Amount remaining after the Senior Interest
                        Distribution  Amount  and  the  Class  A-P  Distribution
                        Amount  have been  distributed,  the amount  paid to the
                        Class  A-4   Certificates   pursuant  to  this   Section
                        4.02(b)(ii)  shall be reduced by an amount  equal to the
                        Class A-4  Certificates'  pro rata  share  (based on the
                        Certificate  Principal  Balance thereof  relative to the
                        aggregate  Certificate  Principal Balance of all classes
                        of  Senior   Certificates  (other  than  the  Class  A-P
                        Certificates)) of such difference;

                 (iii) the balance, if any, of the Senior Principal Distribution
            Amount  remaining  after the  distribution  described in clause (ii)
            above,  shall be distributed  concurrently  to each class of Class R
            Certificates, on a pro rata basis (in proportion to their respective
            Certificate  Principal  Balances),  until the Certificate  Principal
            Balances thereof have been reduced to zero;

                 (iv) the balance, if any, of the Senior Principal  Distribution
            Amount remaining after the  distributions  described in clauses (ii)
            and (iii) above, shall be distributed concurrently as follows, until
            the Certificate  Principal Balance of the Class A-3 Certificates has
            been reduced to zero:

                  (A)    48.3062722867% to the Class A-3 Certificates; and

                  (B) 51.6937277133% in the following order of priority:

                      first,  concurrently  as  follows,  until the  Certificate
                        Principal Balance of the Class A-2 Certificates has been
                        reduced to zero:

                        a. 47.7005988024% to the Class A-2 Certificates; and

                        b. 52.2994011976% in the following order of priority:

                                    (I)  first,  to the Class A-1  Certificates,
                              until the  Certificate  Principal  Balance thereof
                              has been reduced to


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                              zero; and

                              (II) second,  concurrently  as follows,  until the
                     Certificate Principal Balance of the Class A-5 Certificates
                     has been reduced to zero:

                                          A.    82.4928929200% to the Class A-5
                                    Certificates; and

                                          B.    17.5071070800% in the following
                                    order of priority:

                         i.  first,  to the  Class A-7  Certificates,  until the
                    Certificate  Principal  Balance  thereof has been reduced to
                    zero; and

                         ii. second,  to the Class A-8  Certificates,  until the
                    Certificate  Principal  Balance  thereof has been reduced to
                    zero; and

                      second, in the following order of priority:

                         a.  first,  to the  Class A-1  Certificates,  until the
                    Certificate  Principal  Balance  thereof has been reduced to
                    zero; and

                        b.   second,   concurrently   as   follows,   until  the
                     Certificate Principal Balance of the Class A-5 Certificates
                     has been reduced to zero:


                         I. 82.4928929200% to the Class A-5 Certificates; and

                         II. 17.5071070800% in the following order of priority:

                         A.  first,  to the  Class A-7  Certificates,  until the
                    Certificate  Principal  Balance  thereof has been reduced to
                    zero; and

                         B.  second,  to the Class A-8  Certificates,  until the
                    Certificate  Principal  Balance  thereof has been reduced to
                    zero; and

                 (v) the balance,  if any, of the Senior Principal  Distribution
            Amount remaining after the distributions  described in clauses (ii),
            (iii) and (iv) above, shall be distributed concurrently as follows:

                  (A) 82.4928929200% to the Class A-5 Certificates; and


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                  (B) 17.5071070800% in the following order of priority:

     first,  to the Class A-7  Certificates,  until  the  Certificate  Principal
Balance thereof has been reduced to zero; and

     second,  to the Class A-8  Certificates,  until the  Certificate  Principal
Balance thereof has been reduced to zero; and

                 (vi) the balance, if any, of the Senior Principal  Distribution
            Amount remaining after the distributions  described in clauses (ii),
            (iii),  (iv) and (v) above,  shall be  distributed  to the Class A-4
            Certificates,  until the Certificate  Principal  Balance thereof has
            been reduced to zero.

           (c) On or after the occurrence of the Credit Support  Depletion Date,
      all priorities relating to the distributions  described in Section 4.02(b)
      above in  respect  of  principal  among  the  various  classes  of  Senior
      Certificates will be disregarded,  and (i) an amount equal to the Discount
      Fraction of the principal  portion of scheduled  payments and  unscheduled
      collections received or advanced in respect of the Discount Mortgage Loans
      will be  distributed  to the Class A-P  Certificates,  and (ii) the Senior
      Principal  Distribution Amount will be distributed to the remaining Senior
      Certificates   (other  than  the  Class  A-6,  Class  A-P  and  Class  A-V
      Certificates)  pro rata in accordance  with their  respective  outstanding
      Certificate  Principal Balances until such Certificate  Principal Balances
      have been reduced to zero.

           (d) After  reduction  of the  Certificate  Principal  Balances of the
      Senior  Certificates  (other than the Class A-P  Certificates) to zero but
      prior to the occurrence of the Credit Support  Depletion  Date, the Senior
      Certificates  (other than the Class A-P Certificates)  will be entitled to
      no  further   distributions   of  principal   thereon  and  the  Available
      Distribution  Amount  will be paid solely to the holders of the Class A-P,
      Class A-V,  Class M and Class B  Certificates,  in each case as  described
      herein.

           (e) In addition to the foregoing  distributions,  with respect to any
      Mortgage Loan that was previously the subject of a Cash  Liquidation or an
      REO Disposition that resulted in a Realized Loss, in the event that within
      two years of the date on which such Realized  Loss was  determined to have
      occurred the Master Servicer receives  amounts,  which the Master Servicer
      reasonably believes to represent subsequent recoveries (net of any related
      liquidation  expenses),  or  determines  that  it  holds  surplus  amounts
      previously reserved to cover estimated expenses,  specifically  related to
      such Mortgage Loan (including,  but not limited to,  recoveries in respect
      of the  representations and warranties made by the related Seller pursuant
      to  the  applicable  Seller's   Agreement),   the  Master  Servicer  shall
      distribute such amounts to the applicable  Certificateholders of the Class
      or Classes to which such Realized Loss was allocated  (with the amounts to
      be  distributed  allocated  among such Classes in the same  proportions as
      such  Realized  Loss was  allocated),  and  within  each such Class to the
      Certificateholders  of record as of the Record Date immediately  preceding
      the date of such  distribution  (or if such  Class of  Certificates  is no
      longer outstanding,  to the  Certificateholders of record at the time that
      such Realized Loss was allocated);  provided that no such  distribution to
      any Class of Certificates of subsequent recoveries related to a


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      Mortgage Loan shall exceed,  either  individually  or in the aggregate and
      together with any other amounts paid in reimbursement therefor, the amount
      of the  related  Realized  Loss  that  was  allocated  to  such  Class  of
      Certificates. Notwithstanding the foregoing, no such distribution shall be
      made with  respect to the  Certificates  of any Class to the  extent  that
      either (i) such Class was  protected  against  the related  Realized  Loss
      pursuant to any instrument or fund  established  under Section 11.01(e) or
      (ii) such Class of  Certificates  has been deposited into a separate trust
      fund or other  structuring  vehicle  and  separate  certificates  or other
      instruments representing interests therein have been issued in one or more
      classes,  and any of such separate  certificates or other  instruments was
      protected  against  the  related  Realized  Loss  pursuant  to any limited
      guaranty,  payment obligation,  irrevocable letter of credit, surety bond,
      insurance policy or similar instrument or a reserve fund, or a combination
      thereof.  Any  amount to be so  distributed  shall be  distributed  by the
      Master Servicer to the  Certificateholders of record as of the Record Date
      immediately  preceding the date of such  distribution  (i) with respect to
      the Certificates of any Class (other than the Class A-V Certificates),  on
      a pro rata basis  based on the  Percentage  Interest  represented  by each
      Certificate  of such Class as of such Record Date and (ii) with respect to
      the Class A-V Certificates,  to the Class A-V Certificates or any Subclass
      thereof in the same proportion as the related Realized Loss was allocated.
      Any amounts to be so  distributed  shall not be remitted to or distributed
      from the Trust  Fund,  and shall  constitute  subsequent  recoveries  with
      respect to Mortgage Loans that are no longer assets of the Trust Fund.

           (f) Each distribution with respect to a Book-Entry  Certificate shall
      be paid to the Depository,  as Holder thereof, and the Depository shall be
      responsible for crediting the amount of such  distribution to the accounts
      of its Depository  Participants in accordance with its normal  procedures.
      Each  Depository  Participant  shall be responsible  for  disbursing  such
      distribution  to the  Certificate  Owners that it  represents  and to each
      indirect  participating  brokerage  firm (a "brokerage  firm" or "indirect
      participating firm") for which it acts as agent. Each brokerage firm shall
      be responsible  for  disbursing  funds to the  Certificate  Owners that it
      represents. None of the Trustee, the Certificate Registrar, the Company or
      the Master  Servicer  shall  have any  responsibility  therefor  except as
      otherwise provided by this Agreement or applicable law.

           (g)  Except as  otherwise  provided  in Section  9.01,  if the Master
      Servicer  anticipates that a final  distribution with respect to any Class
      of  Certificates  will be made on the next  Distribution  Date, the Master
      Servicer shall, no later than the Determination  Date in the month of such
      final  distribution,  notify the Trustee and the Trustee  shall,  no later
      than two (2) Business  Days after such  Determination  Date,  mail on such
      date to each Holder of such Class of  Certificates  a notice to the effect
      that: (i) the Trustee anticipates that the final distribution with respect
      to such Class of Certificates  will be made on such  Distribution Date but
      only upon presentation and surrender of such Certificates at the office of
      the Trustee or as otherwise specified therein,  and (ii) no interest shall
      accrue on such  Certificates  from and after the end of the prior calendar
      month.  In the event that  Certificateholders  required to surrender their
      Certificates   pursuant  to  Section   9.01(c)  do  not  surrender   their
      Certificates  for  final  cancellation,  the  Trustee  shall  cause  funds
      distributable  with respect to such  Certificates to be withdrawn from the
      Certificate  Account  and  credited to a separate  escrow  account for the
      benefit of such Certificateholders as provided in Section 9.01(d).


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     SECTION 4.03.   Statements to Certificateholders.

           (a) Concurrently  with each  distribution  charged to the Certificate
      Account and with  respect to each  Distribution  Date the Master  Servicer
      shall forward to the Trustee and the Trustee shall forward by mail to each
      Holder and the Company a statement setting forth the following information
      as to each Class of Certificates to the extent applicable:

                 (i)   (a)   the   amount   of   such    distribution   to   the
            Certificateholders  of such Class applied to reduce the  Certificate
            Principal  Balance  thereof,  and (b) the aggregate  amount included
            therein representing Principal Prepayments;

                 (ii) the amount of such  distribution  to Holders of such Class
            of Certificates allocable to interest;

                 (iii)  if the  distribution  to the  Holders  of such  Class of
            Certificates   is  less  than  the  full   amount   that   would  be
            distributable  to  such  Holders  if  there  were  sufficient  funds
            available therefor, the amount of the shortfall;

                 (iv) the amount of any Advance by the Master Servicer  pursuant
            to Section 4.04;

                 (v)  the  number  and  Pool  Stated  Principal  Balance  of the
            Mortgage Loans after giving effect to the  distribution of principal
            on such Distribution Date;

                 (vi) the aggregate  Certificate Principal Balance of each Class
            of  Certificates,  and  each  of the  Senior,  Class  M and  Class B
            Percentages,  after giving effect to the amounts distributed on such
            Distribution Date, separately  identifying any reduction thereof due
            to Realized Losses other than pursuant to an actual  distribution of
            principal;

                (vii)  the related Subordinate Principal Distribution Amount and
            Prepayment Distribution Percentage, if applicable;

                 (viii) on the basis of the most recent reports  furnished to it
            by  Subservicers,  the number and  aggregate  principal  balances of
            Mortgage  Loans that are  Delinquent  (A) 30-59 days, (B) 60-89 days
            and (C) 90 or more  days  and the  number  and  aggregate  principal
            balance of Mortgage Loans that are in foreclosure;

                 (ix) the number,  aggregate principal balance and book value of
            any REO Properties;

                 (x)  the  aggregate  Accrued  Certificate   Interest  remaining
            unpaid, if any, for each Class of Certificates,  after giving effect
            to the distribution made on such Distribution Date;

                 (xi)  the  Special  Hazard   Amount,   Fraud  Loss  Amount  and
            Bankruptcy  Amount as of the close of business on such  Distribution
            Date and a  description  of any  change in the  calculation  of such
            amounts;


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                 (xii)  the   weighted   average   Pool   Strip  Rate  for  such
            Distribution  Date and the  Pass-Through  Rate with  respect  to the
            Class A-V Certificates and each Subclass, if any, thereof;

                 (xiii) the Notional  Amount with respect to each Class of Class
            A-6 Certificates and Class A-V Certificates and, with respect to the
            Class A-V Certificates, each Class A-V Subclass Notional Amount;

                 (xiv) the occurrence of the Credit Support Depletion Date;

                 (xv) the Senior Accelerated  Distribution Percentage applicable
            to such distribution;

                 (xvi) the Senior Percentage for such Distribution Date;

                 (xvii)  the  aggregate  amount  of  Realized  Losses  for  such
Distribution Date;

                 (xviii) the  aggregate  amount of any  recoveries on previously
            foreclosed loans from Sellers due to a breach of  representation  or
            warranty;

                 (xix) the weighted  average  remaining  term to maturity of the
            Mortgage  Loans after giving  effect to the amounts  distributed  on
            such Distribution Date;

                 (xx) the weighted  average Mortgage Rates of the Mortgage Loans
            after giving effect to the amounts  distributed on such Distribution
            Date; and

                 (xxi)  if  any  of the  Class  M  Certificates  are  held  by a
            Depository,  a  legend  substantially  in the  form of  Exhibit  J-3
            hereto, referencing such Certificates.

      In the case of  information  furnished  pursuant  to clauses  (i) and (ii)
      above,  the amounts shall be expressed as a dollar amount per  Certificate
      with a $1,000  denomination.  In addition to the statement provided to the
      Trustee as set forth in this Section  4.03(a),  the Master  Servicer shall
      provide to any  manager of a trust fund  consisting  of some or all of the
      Certificates,  upon reasonable request, such additional  information as is
      reasonably  obtainable by the Master Servicer at no additional  expense to
      the Master Servicer.

           (b) Within a reasonable period of time after the end of each calendar
      year,  the Master  Servicer shall  prepare,  or cause to be prepared,  and
      shall  forward,  or cause to be forwarded,  to each Person who at any time
      during the  calendar  year was the Holder of a  Certificate,  other than a
      Class R Certificate,  a statement  containing the information set forth in
      clauses (i) and (ii) of subsection (a) above  aggregated for such calendar
      year  or  applicable  portion  thereof  during  which  such  Person  was a
      Certificateholder.  Such obligation of the Master Servicer shall be deemed
      to  have  been  satisfied  to the  extent  that  substantially  comparable
      information  shall be  provided  by the Master  Servicer  pursuant  to any
      requirements of the Code.

           (c) Within a reasonable period of time after the end of each calendar
      year,  the Master  Servicer shall  prepare,  or cause to be prepared,  and
      shall forward, or cause to be


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<PAGE>





      forwarded, to each Person who at any time during the calendar year was the
      Holder of a Class R  Certificate,  a statement  containing  the applicable
      distribution information provided pursuant to this Section 4.03 aggregated
      for such  calendar year or applicable  portion  thereof  during which such
      Person was the Holder of a Class R  Certificate.  Such  obligation  of the
      Master  Servicer shall be deemed to have been satisfied to the extent that
      substantially  comparable  information  shall be  provided  by the  Master
      Servicer pursuant to any requirements of the Code.

           (d) Upon the  written  request of any  Certificateholder,  the Master
      Servicer, as soon as reasonably practicable,  shall provide the requesting
      Certificateholder  with such  information as is necessary and appropriate,
      in the Master  Servicer's  sole  discretion,  for  purposes of  satisfying
      applicable reporting requirements under Rule 144A.

     SECTION  4.04.  Distribution  of Reports to the  Trustee  and the  Company;
Advances by the Master Servicer.

           (a)  Prior  to the  close  of  business  on  the  Business  Day  next
      succeeding  each  Determination  Date, the Master Servicer shall furnish a
      written  statement to the  Trustee,  any Paying Agent and the Company (the
      information in such  statement to be made available to  Certificateholders
      by the  Master  Servicer  on  request)  setting  forth  (i) the  Available
      Distribution  Amount;  and (ii) the amounts  required to be withdrawn from
      the Custodial  Account and deposited into the  Certificate  Account on the
      immediately succeeding Certificate Account Deposit Date pursuant to clause
      (iii) of Section 4.01(a). The determination by the Master Servicer of such
      amounts shall, in the absence of obvious error, be presumptively deemed to
      be correct for all purposes  hereunder  and the Trustee shall be protected
      in relying upon the same without any independent check or verification.

           (b) On or before 2:00 P.M. New York time on each Certificate  Account
      Deposit  Date,  the  Master  Servicer  shall  either  (i)  deposit  in the
      Certificate  Account from its own funds,  or funds received  therefor from
      the Subservicers, an amount equal to the Advances to be made by the Master
      Servicer in respect of the related Distribution Date, which shall be in an
      aggregate  amount equal to the aggregate  amount of Monthly Payments (with
      each interest portion thereof adjusted to the Net Mortgage Rate), less the
      amount of any related Servicing Modifications,  Debt Service Reductions or
      reductions  in the  amount  of  interest  collectable  from the  Mortgagor
      pursuant  to the  Soldiers'  and  Sailors'  Civil  Relief Act of 1940,  as
      amended,  or similar  legislation  or regulations  then in effect,  on the
      Outstanding  Mortgage  Loans as of the  related  Due Date,  which  Monthly
      Payments  were  delinquent  as of the close of  business as of the related
      Determination  Date; provided that no Advance shall be made if it would be
      a  Nonrecoverable  Advance,  (ii)  withdraw from amounts on deposit in the
      Custodial Account and deposit in the Certificate  Account all or a portion
      of the  Amount  Held for  Future  Distribution  in  discharge  of any such
      Advance,  or (iii) make advances in the form of any combination of (i) and
      (ii)  aggregating  the amount of such  Advance.  Any portion of the Amount
      Held for  Future  Distribution  so used  shall be  replaced  by the Master
      Servicer by deposit in the Certificate Account on or before 11:00 A.M. New
      York time on any future  Certificate  Account  Deposit  Date to the extent
      that funds  attributable  to the Mortgage  Loans that are available in the
      Custodial  Account  for  deposit  in  the  Certificate   Account  on  such
      Certificate Account Deposit Date shall be less than payments


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<PAGE>





      to  Certificateholders  required to be made on the following  Distribution
      Date.  The Master  Servicer shall be entitled to use any Advance made by a
      Subservicer as described in Section 3.07(b) that has been deposited in the
      Custodial  Account  on or  before  such  Distribution  Date as part of the
      Advance made by the Master  Servicer  pursuant to this Section  4.04.  The
      amount of any reimbursement pursuant to Section 4.02(a)(iii) in respect of
      outstanding  Advances  on any  Distribution  Date  shall be  allocated  to
      specific  Monthly  Payments due but  delinquent  for previous Due Periods,
      which  allocation  shall be made,  to the extent  practicable,  to Monthly
      Payments which have been  delinquent for the longest period of time.  Such
      allocations  shall be  conclusive  for  purposes of  reimbursement  to the
      Master  Servicer from  recoveries on related  Mortgage  Loans  pursuant to
      Section 3.10.

      The determination by the Master Servicer that it has made a Nonrecoverable
Advance or that any proposed Advance, if made, would constitute a Nonrecoverable
Advance, shall be evidenced by a certificate of a Servicing Officer delivered to
the Seller and the Trustee.

      In the event that the Master  Servicer  determines  as of the Business Day
preceding any Certificate Account Deposit Date that it will be unable to deposit
in the  Certificate  Account an amount equal to the Advance  required to be made
for the immediately  succeeding  Distribution  Date, it shall give notice to the
Trustee of its inability to advance (such notice may be given by telecopy),  not
later than 3:00 P.M.,  New York  time,  on such  Business  Day,  specifying  the
portion of such amount  that it will be unable to  deposit.  Not later than 3:00
P.M., New York time, on the Certificate  Account Deposit Date the Trustee shall,
unless by 12:00 Noon,  New York time,  on such day the  Trustee  shall have been
notified in writing (by telecopy)  that the Master  Servicer shall have directly
or indirectly deposited in the Certificate Account such portion of the amount of
the Advance as to which the Master  Servicer shall have given notice pursuant to
the  preceding  sentence,  pursuant to Section  7.01,  (a)  terminate all of the
rights and obligations of the Master Servicer under this Agreement in accordance
with  Section  7.01 and (b)  assume the  rights  and  obligations  of the Master
Servicer  hereunder,  including  the  obligation  to deposit in the  Certificate
Account  an  amount  equal  to  the  Advance  for  the  immediately   succeeding
Distribution Date.

      The Trustee shall  deposit all funds it receives  pursuant to this Section
4.04 into the Certificate Account.

     SECTION 4.05.   Allocation of Realized Losses.

      Prior to each  Distribution  Date, the Master Servicer shall determine the
total  amount  of  Realized  Losses,   if  any,  that  resulted  from  any  Cash
Liquidation, Servicing Modification, Debt Service Reduction, Deficient Valuation
or REO Disposition that occurred during the related Prepayment Period or, in the
case of a Servicing  Modification  that  constitutes a reduction of the interest
rate on a Mortgage Loan, the amount of the reduction in the interest  portion of
the Monthly Payment due in the month in which such Distribution Date occurs. The
amount of each Realized Loss shall be evidenced by an Officers' Certificate. All
Realized Losses, other than Excess Special Hazard Losses,  Extraordinary Losses,
Excess Bankruptcy Losses or Excess Fraud Losses,  shall be allocated as follows:
first, to the Class B-3  Certificates  until the Certificate  Principal  Balance
thereof has been reduced to zero;  second,  to the Class B-2 Certificates  until
the Certificate  Principal  Balance thereof has been reduced to zero;  third, to
the Class B-1 Certificates  until the Certificate  Principal Balance thereof has
been  reduced  to  zero;  fourth,  to  the  Class  M-3  Certificates  until  the
Certificate


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<PAGE>





Principal  Balance  thereof has been  reduced to zero;  fifth,  to the Class M-2
Certificates until the Certificate Principal Balance thereof has been reduced to
zero;  sixth,  to the Class M-1  Certificates  until the  Certificate  Principal
Balance  thereof has been reduced to zero;  and,  thereafter,  if such  Realized
Losses are on a Discount  Mortgage  Loan, to the Class A-P  Certificates,  in an
amount equal to the Discount Fraction of the principal portion thereof,  and the
remainder of such Realized  Losses and the entire amount of such Realized Losses
on Non-Discount Mortgage Loans among all the Senior Certificates (other than the
Class A-P  Certificates)  on a pro rata basis,  as described  below.  Any Excess
Special  Hazard  Losses,  Excess  Bankruptcy  Losses,  Excess  Fraud  Losses and
Extraordinary Losses on Non-Discount  Mortgage Loans will be allocated among the
Senior Certificates (other than the Class A-P Certificates), Class M and Class B
Certificates,  on a pro rata basis, as described below. The principal portion of
such  losses on  Discount  Mortgage  Loans  will be  allocated  to the Class A-P
Certificates in an amount equal to the related Discount  Fraction  thereof,  and
the remainder of such losses on Discount  Mortgage Loans will be allocated among
the Senior  Certificates  (other than the Class A-P  Certificates),  Class M and
Class B Certificates on a pro rata basis, as described below.

      As used herein,  an  allocation  of a Realized  Loss on a "pro rata basis"
among two or more specified Classes of Certificates means an allocation on a pro
rata  basis,  among the  various  Classes  so  specified,  to each such Class of
Certificates  on the  basis  of their  then  outstanding  Certificate  Principal
Balances prior to giving effect to distributions to be made on such Distribution
Date in the case of the  principal  portion of a  Realized  Loss or based on the
Accrued Certificate  Interest thereon for such Distribution Date (without regard
to any  Compensating  Interest  for  such  Distribution  Date) in the case of an
interest  portion  of a  Realized  Loss.  Except as  provided  in the  following
sentence, any allocation of the principal portion of Realized Losses (other than
Debt Service  Reductions) to a Class of  Certificates  shall be made by reducing
the  Certificate  Principal  Balance  thereof by the amount so allocated,  which
allocation  shall be deemed to have  occurred  on such  Distribution  Date.  Any
allocation of the principal  portion of Realized Losses (other than Debt Service
Reductions)  to the Class B  Certificates  or, after the  Certificate  Principal
Balances of the Class B Certificates  have been reduced to zero, to the Class of
Class M Certificates  then  outstanding with the highest  numerical  designation
shall be made by operation of the definition of "Certificate  Principal Balance"
and by  operation  of the  provisions  of Section  4.02(a).  Allocations  of the
interest  portions  of  Realized  Losses  shall  be  made  by  operation  of the
definition of "Accrued Certificate  Interest" and by operation of the provisions
of  Section  4.02(a).  Allocations  of the  principal  portion  of Debt  Service
Reductions shall be made by operation of the provisions of Section 4.02(a).  All
Realized  Losses  and all  other  losses  allocated  to a Class of  Certificates
hereunder will be allocated  among the  Certificates of such Class in proportion
to the Percentage  Interests evidenced thereby;  provided that if any Subclasses
of the Class A-V Certificates have been issued pursuant to Section 5.01(c), such
Realized Losses and other losses allocated to the Class A-V  Certificates  shall
be allocated  among such  Subclasses in proportion to the respective  amounts of
Accrued  Certificate  Interest payable on such Distribution Date that would have
resulted absent such reductions.

     SECTION  4.06.   Reports  of  Foreclosures  and  Abandonment  of  Mortgaged
Property.

      The Master Servicer or the  Subservicers  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


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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.

     SECTION 4.07.   Optional Purchase of Defaulted Mortgage Loans.

      As to any Mortgage Loan which is delinquent in payment by 90 days or more,
the Master  Servicer  may, at its option,  purchase  such Mortgage Loan from the
Trustee at the Purchase Price therefor. If at any time the Master Servicer makes
a payment to the Certificate  Account  covering the amount of the Purchase Price
for such a Mortgage  Loan,  and the Master  Servicer  provides  to the Trustee a
certification  signed by a  Servicing  Officer  stating  that the amount of such
payment has been deposited in the  Certificate  Account,  then the Trustee shall
execute  the  assignment  of such  Mortgage  Loan at the  request  of the Master
Servicer  without recourse to the Master Servicer which shall succeed to all the
Trustee's  right,  title and  interest  in and to such  Mortgage  Loan,  and all
security and documents relative thereto.  Such assignment shall be an assignment
outright and not for  security.  The Master  Servicer  will  thereupon  own such
Mortgage, and all such security and documents, free of any further obligation to
the Trustee or the Certificateholders with respect thereto.


Notwithstanding anything to the contrary in this Section 4.07, unless the Master
Servicer  shall have  exercised its right to repurchase a Mortgage Loan pursuant
to this Section 4.07 upon the written  request of and with funds provided by the
Junior  Certificateholder  and thereupon  transferred  such Mortgage Loan to the
Junior Certificateholder,

           (a) the Master  Servicer shall continue to service such Mortgage Loan
      after  the date of its  purchase  in  accordance  with  the  terms of this
      Agreement  and, if any Realized  Loss with respect to such  Mortgage  Loan
      occurs,   allocate   such  Realized  Loss  to  the  Class  or  Classes  of
      Certificates  that would have borne such Realized Loss in accordance  with
      the terms hereof as if such Mortgage Loan had not been so purchased; and

           (b) For purposes of this  Agreement,  a payment of the Purchase Price
      by the Master Servicer  pursuant to this Section 4.07 will be viewed as an
      advance, and the amount of any Realized Loss shall be recoverable pursuant
      to the provisions for the recovery of unreimbursed  Advances under Section
      4.02(a)  or, to the extent not  recoverable  under such  provisions,  as a
      Nonrecoverable Advance as set forth herein.

If, however,  the Master Servicer shall have exercised its right to repurchase a
Mortgage Loan pursuant to this Section 4.07 upon the written request of and with
funds provided by the Junior  Certificateholder  and thereupon  transferred such
Mortgage Loan to the Junior  Certificateholder,  Sections  4.07(a) and (b) above
shall no longer apply and no Realized  Loss with respect to such  Mortgage  Loan
shall be  allocated  to any Class of  Certificates.  The Master  Servicer  shall
notify the Trustee in writing of any such repurchase.

     SECTION 4.08.   Surety Bond.

          (a) If a Required  Surety  Payment is payable  pursuant  to the Surety
     Bond with


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      respect to any Additional  Collateral  Loan, the Master  Servicer shall so
      notify the Trustee as soon as reasonably practicable and the Trustee shall
      promptly  complete  the notice in the form of  Attachment  1 to the Surety
      Bond and shall promptly  submit such notice to the Surety as a claim for a
      Required Surety. The Master Servicer shall upon request assist the Trustee
      in completing such notice and shall provide any  information  requested by
      the Trustee in connection therewith.

           (b) Upon  receipt of a  Required  Surety  Payment  from the Surety on
      behalf of the Holders of  Certificates,  the Trustee  shall  deposit  such
      Required  Surety Payment in the Certificate  Account and shall  distribute
      such Required Surety Payment,  or the proceeds thereof, in accordance with
      the provisions of Section 4.02.

           (c) The Trustee shall (i) receive as  attorney-in-fact of each Holder
      of a  Certificate  any  Required  Surety  Payment from the Surety and (ii)
      disburse  the same to the  Holders  of such  Certificates  as set forth in
      Section 4.02.

     SECTION  4.09.  Distributions  on the  Uncertificated  REMIC I and REMIC II
Regular Interests

           (a) On  each  Distribution  Date  the  Trustee  shall  be  deemed  to
      distribute to itself, as the holder of the Uncertificated  REMIC I Regular
      Interests,  the  Uncertificated  REMIC  I  Regular  Interest  Distribution
      Amounts in the following  order of priority to the extent of the Available
      Distribution  Amount  reduced  by  distributions  made  to the  Class  R-I
      Certificates pursuant to Section 4.02(a):

                 (i) Uncertificated Accrued Interest on the Uncertificated REMIC
            I  Regular   Interests  for  such   Distribution   Date,   plus  any
            Uncertificated  Accrued Interest  thereon  remaining unpaid from any
            previous Distribution Date; and

                 (ii) In  accordance  with the  priority  set  forth in  Section
            4.09(b),  an amount  equal to the sum of the  amounts  in respect of
            principal  distributable  on the Class A-1,  Class  A-2,  Class A-3,
            Class A-4,  Class A-5,  Class A-7,  Class A-8, Class A-P, Class M-1,
            Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II
            Certificates under Section 4.02(a), as allocated thereto pursuant to
            Section 4.02(b).

           (b) The  amount  described  in  Section  4.09(a)(ii)  shall be deemed
      distributed  to (i)  Uncertificated  REMIC  I  Regular  Interest  W,  (ii)
      Uncertificated REMIC I Regular Interest X and (iii) Uncertificated REMIC I
      Regular Interest Y with the amount to be distributed  allocated among such
      interests in  accordance  with the priority  assigned to the (i) Class A-4
      Certificates, (ii) Class A-P Certificates, and (iii) Class A-1, Class A-2,
      Class A-3,  Class A-5,  Class A-7,  Class A-8, Class M-1, Class M-2, Class
      M-3,  Class  B-1,  Class  B-2,  Class  B-3 and  Class  R-II  Certificates,
      respectively,  under Section  4.02(b) until the  Uncertificated  Principal
      Balance of each such interest is reduced to zero.

           (c)  The  portion  of the  Uncertificated  REMIC I  Regular  Interest
      Distribution  Amounts  described  in Section  4.09(a)(ii)  shall be deemed
      distributed  by  REMIC I to  REMIC  II in  accordance  with  the  priority
      assigned to the REMIC II Certificates relative to that


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      assigned to the REMIC I Certificates under Section 4.02(b).

           (d) In  determining  from  time to time  the  Uncertificated  REMIC I
      Regular Interest  Distribution Amounts and Uncertificated REMIC II Regular
      Interest Distribution Amounts:

                 (i) Realized  Losses  allocated  to the Class A-V  Certificates
            under  Section  4.05  shall  be  deemed  allocated  to the  REMIC II
            Uncertificated   Regular   Interests   pro-rata   according  to  the
            respective  amounts of  Uncertificated  Accrued  Interest that would
            have accrued on such  Uncertificated  REMIC Regular II Interests for
            the Distribution Date for which such allocation is being made in the
            absence of such allocation;

                 (ii) Realized  Losses  allocated to the Class A-4  Certificates
            and  Class  A-6  Certificates  under  Section  4.05  shall be deemed
            allocated to Uncertificated REMIC I Regular Interest W;

                 (iii) Realized Losses  allocated to the Class A-P  Certificates
            under Section 4.05 shall be deemed allocated to Uncertificated REMIC
            I Regular Interest X;

                 (iv)  Realized  Losses  allocated to the Class A-1,  Class A-2,
            Class A-3,  Class A-5,  Class A-7,  Class A-8, Class M-1, Class M-2,
            Class  M-3,   Class  B-1,  Class  B-2,  Class  B-3  and  Class  R-II
            Certificates  under  Section  4.05  shall  be  deemed  allocated  to
            Uncertificated REMIC I Regular Interest Y; and

                 (v) Realized Losses  allocated to the  Uncertificated  REMIC II
            Regular   Interests  under  clause  (I),  above,   shall  be  deemed
            allocated,  in each  case,  to the  related  Uncertificated  REMIC I
            Regular Interest Z.

           (e) On  each  Distribution  Date  the  Trustee  shall  be  deemed  to
      distribute  from REMIC II, in the priority  set forth in Sections  4.02(a)
      and (b), to the Class A-1,  Class A-2,  Class A-3,  Class A-4,  Class A-5,
      Class A-6,  Class A-7,  Class A-8,  Class A-P, Class A-V, Class M-1, Class
      M-2,   Class  M-3,  Class  B-1,  Class  B-2,  Class  B-3  and  Class  R-II
      Certificates the amounts  distributable  thereon,  from the Uncertificated
      REMIC I Regular Interest Distribution Amounts deemed to have been received
      by REMIC II from REMIC I under  this  Section  4.09.  The  amounts  deemed
      distributed  hereunder with respect to the Class A-V Certificates shall be
      deemed to have been distributed in respect of the Uncertificated  REMIC II
      Regular  Interests Z in accordance  with their  respective  Uncertificated
      REMIC II Regular Interest  Distribution  Amounts,  as such  Uncertificated
      REMIC II Regular Interests comprise the Class A-V Certificates.

           (f)  Notwithstanding  the deemed  distributions on the Uncertificated
      REMIC I Regular Interests described in this Section 4.09, distributions of
      funds from the  Certificate  Account shall be made only in accordance with
      Section 4.02.




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ARTICLE V

                               THE CERTIFICATES

     SECTION 5.01.   The Certificates.

           (a)  The  Class  A,  Class  M,  Class  B and  Class  R  Certificates,
      respectively, shall be substantially in the forms set forth in Exhibits A,
      B, C and D and shall,  on original issue, be executed and delivered by the
      Trustee to the Certificate Registrar for authentication and delivery to or
      upon the order of the Company  upon  receipt by the Trustee or one or more
      Custodians of the documents  specified in Section 2.01. The  Certificates,
      other than the Class A-7, Class A-8,  Class A-V and Class R  Certificates,
      shall  be  issuable  in  minimum  dollar   denominations  of  $25,000  (by
      Certificate  Principal  Balance or Notional  Amount,  as  applicable)  (or
      $250,000 in the case of the Class M-2, Class M-3, Class B-1, Class B-2 and
      Class B-3  Certificates)  and  integral  multiples of $1 (or $1,000 in the
      case of the Class A-P, Class B-1, Class B-2 and Class B-3 Certificates) in
      excess  thereof,  except  that one  Certificate  of each of the Class A-P,
      Class  B-1,  Class  B-2 and  Class  B-3  Certificates  may be  issued in a
      denomination equal to the denomination set forth as follows for such Class
      or the sum of such denomination and an integral multiple of $1,000:

Class A-P                 $  25,920.30
Class B-1                  $250,300.00
Class B-2                  $250,600.00
Class B-3                  $250,377.58


            The Class A-7  Certificates  and  Class  A-8  Certificates  shall be
      issuable in minimum dollar  denominations of $1,000 and integral multiples
      of $1 in  excess  thereof.  The  Class  R-I,  Class  R-II  and  Class  A-V
      Certificates shall be issuable in minimum denominations of not less than a
      20% Percentage Interest;  provided, however, that one of each of the Class
      R-I  Certificates  and  Class  R-II   Certificates  will  be  issuable  to
      Residential  Funding as "tax matters person"  pursuant to Section 10.01(c)
      and (e) in a minimum  denomination  representing a Percentage  Interest of
      not less than  0.01%.  Each  Subclass of Class A-V  Certificates  shall be
      issuable as a single Certificate as provided in Section 5.01(c).

            The Certificates shall be executed by manual or facsimile  signature
      on behalf of an authorized  officer of the Trustee.  Certificates  bearing
      the manual or facsimile signatures of individuals who were at any time 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  Certificate 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 Certificate  Registrar by manual signature,  and such certificate upon
      any Certificate shall be conclusive evidence, and the only evidence,  that
      such Certificate has been duly authenticated and delivered hereunder.  All
      Certificates shall be dated the date of their authentication.

           (b) The Class A Certificates,  other than the Class A-P  Certificates
and Class A-V


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      Certificates,  and the Class M Certificates  shall  initially be issued as
      one or more  Certificates  registered in the name of the Depository or its
      nominee and, except as provided below,  registration of such  Certificates
      may not be transferred by the Trustee  except to another  Depository  that
      agrees to hold such  Certificates  for the respective  Certificate  Owners
      with Ownership Interests therein. The Certificateholders  shall hold their
      respective Ownership Interests in and to each of the Class A Certificates,
      other than the Class A-P Certificates and Class A-V Certificates,  and the
      Class M Certificates  through the book-entry  facilities of the Depository
      and,  except as  provided  below,  shall  not be  entitled  to  Definitive
      Certificates  in respect of such  Ownership  Interests.  All  transfers by
      Certificate  Owners  of  their  respective   Ownership  Interests  in  the
      Book-Entry  Certificates  shall be made in accordance  with the procedures
      established by the Depository  Participant or brokerage firm  representing
      such Certificate  Owner.  Each Depository  Participant  shall transfer the
      Ownership  Interests  only in the Book-Entry  Certificates  of Certificate
      Owners it represents  or of brokerage  firms for which it acts as agent in
      accordance with the Depository's normal procedures.

            The  Trustee,  the  Master  Servicer  and  the  Company  may for all
      purposes  (including the making of payments due on the respective  Classes
      of Book-Entry  Certificates)  deal with the  Depository as the  authorized
      representative  of the  Certificate  Owners with respect to the respective
      Classes of  Book-Entry  Certificates  for the purposes of  exercising  the
      rights of Certificateholders  hereunder.  The rights of Certificate Owners
      with respect to the respective Classes of Book-Entry Certificates shall be
      limited  to  those   established  by  law  and  agreements   between  such
      Certificate  Owners and the Depository  Participants  and brokerage  firms
      representing  such Certificate  Owners.  Multiple  requests and directions
      from,  and votes of, the  Depository  as Holder of any Class of Book-Entry
      Certificates  with  respect to any  particular  matter shall not be deemed
      inconsistent  if they are  made  with  respect  to  different  Certificate
      Owners.  The Trustee may establish a reasonable  record date in connection
      with  solicitations of consents from or voting by  Certificateholders  and
      shall give notice to the Depository of such record date.

            If (i)(A) the  Company  advises  the  Trustee  in  writing  that the
      Depository  is no  longer  willing  or  able  to  properly  discharge  its
      responsibilities  as Depository  and (B) the Company is unable to locate a
      qualified  successor or (ii) the Company at its option advises the Trustee
      in writing that it elects to terminate the  book-entry  system through the
      Depository,  the Trustee shall notify all Certificate Owners,  through the
      Depository, of the occurrence of any such event and of the availability of
      Definitive  Certificates to Certificate  Owners  requesting the same. Upon
      surrender to the Trustee of the Book-Entry Certificates by the Depository,
      accompanied  by   registration   instructions   from  the  Depository  for
      registration   of  transfer,   the  Trustee  shall  issue  the  Definitive
      Certificates.  Neither the  Company,  the Master  Servicer nor the Trustee
      shall be liable for any actions  taken by the  Depository  or its nominee,
      including,  without limitation, 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 all references
      herein to  obligations  imposed  upon or to be performed by the Company in
      connection  with the issuance of the Definitive  Certificates  pursuant to
      this Section 5.01 shall be deemed to be imposed upon and  performed by the
      Trustee,  and the  Trustee and the Master  Servicer  shall  recognize  the
      Holders of the Definitive Certificates as Certificateholders hereunder.


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           (c) From time to time Residential  Funding,  as the initial Holder of
      the  Class  A-V  Certificates,   may  exchange  such  Holder's  Class  A-V
      Certificates  for Subclasses of Class A-V  Certificates to be issued under
      this Agreement by delivering a "Request for Exchange" substantially in the
      form attached hereto as Exhibit Q executed by an authorized officer, which
      Subclasses,  in the aggregate,  will represent the Uncertificated REMIC II
      Regular   Interests   corresponding  to  the  Class  A-V  Certificates  so
      surrendered  for  exchange.  Any Subclass so issued shall bear a numerical
      designation  commencing  with  Class  A-V-1  and  continuing  sequentially
      thereafter,  and will evidence  ownership of the  Uncertificated  REMIC II
      Regular Interest or Interests  specified in writing by such initial Holder
      to the  Trustee.  The Trustee may  conclusively,  without any  independent
      verification,  rely on, and shall be protected in relying on,  Residential
      Funding's  determinations of the Uncertificated REMIC II Regular Interests
      corresponding  to any Subclass,  the initial  Class A-V Subclass  Notional
      Amount and the  initial  Pass-Through  Rate on a Subclass  as set forth in
      such Request for Exchange and the Trustee  shall have no duty to determine
      if any  Uncertificated  REMIC II Regular Interest  designated on a Request
      for Exchange  corresponds to a Subclass which has previously  been issued.
      Each  Subclass so issued shall be  substantially  in the form set forth in
      Exhibit A and shall,  on original  issue, be executed and delivered by the
      Trustee to the Certificate  Registrar for  authentication  and delivery in
      accordance  with  Section   5.01(a).   Every   Certificate   presented  or
      surrendered  for  exchange by the initial  Holder shall (if so required by
      the  Trustee or the  Certificate  Registrar)  be duly  endorsed  by, or be
      accompanied  by  a  written   instrument  of  transfer  attached  to  such
      Certificate and shall be completed to the  satisfaction of the Trustee and
      the Certificate  Registrar duly executed by, the initial Holder thereof or
      his attorney duly authorized in writing.  The Certificates of any Subclass
      of Class A-V Certificates may be transferred in whole, but not in part, in
      accordance with the provisions of Section 5.02.

     SECTION 5.02.   Registration of Transfer and Exchange of Certificates.

           (a) The  Trustee  shall  cause  to be kept at one of the  offices  or
      agencies to be appointed by the Trustee in accordance  with the provisions
      of  Section  8.12  a  Certificate  Register  in  which,  subject  to  such
      reasonable regulations as it may prescribe,  the Trustee shall provide for
      the  registration  of  Certificates  and of  transfers  and  exchanges  of
      Certificates  as herein  provided.  The  Trustee  is  initially  appointed
      Certificate  Registrar  for the purpose of  registering  Certificates  and
      transfers  and  exchanges  of   Certificates  as  herein   provided.   The
      Certificate  Registrar,  or the Trustee, shall provide the Master Servicer
      with a certified list of  Certificateholders  as of each Record Date prior
      to the related Determination Date.

           (b) Upon surrender for registration of transfer of any Certificate at
      any office or agency of the Trustee  maintained for such purpose  pursuant
      to  Section  8.12  and,  in the case of any  Class  M,  Class B or Class R
      Certificate,  upon  satisfaction  of the conditions  set forth below,  the
      Trustee shall execute and the Certificate Registrar shall authenticate and
      deliver, in the name of the designated  transferee or transferees,  one or
      more  new  Certificates  of a  like  Class  (or  Subclass)  and  aggregate
      Percentage Interest.

           (c) At the  option  of the  Certificateholders,  Certificates  may be
      exchanged for other  Certificates  of authorized  denominations  of a like
      Class (or Subclass) and aggregate Percentage  Interest,  upon surrender of
      the Certificates to be exchanged at any such office or


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      agency.  Whenever any  Certificates  are so  surrendered  for exchange the
      Trustee shall execute and the Certificate Registrar shall authenticate and
      deliver the Certificates of such Class which the Certificateholder  making
      the  exchange  is  entitled to receive.  Every  Certificate  presented  or
      surrendered  for transfer or exchange shall (if so required by the Trustee
      or the Certificate  Registrar) be duly endorsed by, or be accompanied by a
      written instrument of transfer in form satisfactory to the Trustee and the
      Certificate Registrar duly executed by, the Holder thereof or his attorney
      duly authorized in writing.

           (d) No  transfer,  sale,  pledge  or other  disposition  of a Class B
      Certificate  shall be made unless  such  transfer,  sale,  pledge or other
      disposition is exempt from the registration requirements of the Securities
      Act of 1933, as amended,  and any applicable  state  securities laws or is
      made in accordance with said Act and laws. In the event that a transfer of
      a Class B  Certificate  is to be made  either  (i)(A)  the  Trustee  shall
      require  a  written  Opinion  of  Counsel  acceptable  to and in form  and
      substance  satisfactory  to the Trustee and the Company that such transfer
      may be made pursuant to an exemption,  describing the applicable exemption
      and the basis  therefor,  from said Act and laws or is being made pursuant
      to said Act and laws,  which Opinion of Counsel shall not be an expense of
      the Trustee,  the Company or the Master  Servicer  (except  that,  if such
      transfer  is made by the Company or the Master  Servicer or any  Affiliate
      thereof,  the Company or the Master Servicer shall provide such Opinion of
      Counsel at their own expense);  provided that such Opinion of Counsel will
      not be  required  in  connection  with the  initial  transfer  of any such
      Certificate  by the Company or any Affiliate  thereof to the Company or an
      Affiliate of the Company and (B) the Trustee shall require the  transferee
      to execute a representation  letter,  substantially in the form of Exhibit
      J-1 hereto,  and the Trustee  shall  require the  transferor  to execute a
      representation letter, substantially in the form of Exhibit K hereto, each
      acceptable  to and in form and substance  satisfactory  to the Company and
      the  Trustee   certifying  to  the  Company  and  the  Trustee  the  facts
      surrounding such transfer,  which  representation  letters shall not be an
      expense of the  Trustee,  the  Company or the Master  Servicer;  provided,
      however,  that  such  representation  letters  will  not  be  required  in
      connection with any transfer of any such Certificate by the Company or any
      Affiliate  thereof to the Company or an Affiliate of the Company,  and the
      Trustee  shall be  entitled  to  conclusively  rely upon a  representation
      (which,   upon  the   request   of  the   Trustee,   shall  be  a  written
      representation)  from the Company,  of the status of such transferee as an
      Affiliate  of the  Company or (ii) the  prospective  transferee  of such a
      Certificate shall be required to provide the Trustee,  the Company and the
      Master  Servicer with an investment  letter  substantially  in the form of
      Exhibit L attached  hereto (or such other form as the  Company in its sole
      discretion  deems  acceptable),  which  investment  letter shall not be an
      expense of the  Trustee,  the  Company or the Master  Servicer,  and which
      investment letter states that, among other things,  such transferee (A) 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 (B) is aware that the proposed  transferor
      intends to rely on the exemption from registration  requirements under the
      Securities  Act of 1933, as amended,  provided by Rule 144A. The Holder of
      any such Certificate desiring to effect any such transfer, sale, pledge or
      other disposition  shall, and does hereby agree to, indemnify the Trustee,
      the Company, the Master Servicer and the Certificate Registrar against any
      liability  that  may  result  if  the  transfer,  sale,  pledge  or  other
      disposition  is not so  exempt  or is not  made in  accordance  with  such
      federal and state laws.


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           (e) (i) In the case of any  Class M,  Class B or Class R  Certificate
      presented  for  registration  in the name of any  Person,  either  (A) the
      Trustee shall require an Opinion of Counsel  acceptable to and in form and
      substance satisfactory to the Trustee, the Company and the Master Servicer
      to the  effect  that the  purchase  or holding of such Class M, Class B or
      Class  R  Certificate  is  permissible  under  applicable  law,  will  not
      constitute  or  result  in any  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 (or comparable  provisions
      of any  subsequent  enactments),  and will not  subject the  Trustee,  the
      Company or the Master  Servicer to any obligation or liability  (including
      obligations  or  liabilities  under 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 Company or the Master Servicer
      or (B) the  prospective  Transferee  shall  be  required  to  provide  the
      Trustee,  the Company and the Master Servicer with a certification  to the
      effect  set forth in  paragraph  six of Exhibit  J-1 (with  respect to any
      Class  B   Certificate),   Exhibit  J-2  (with  respect  to  any  Class  M
      Certificate)  or  paragraph  fourteen of Exhibit I-1 (with  respect to any
      Class R  Certificate),  which the  Trustee may rely upon  without  further
      inquiry or investigation,  or such other certifications as the Trustee may
      deem desirable or necessary in order to establish that such  Transferee or
      the Person in whose name such  registration is requested either (a) is not
      an  employee  benefit  plan  or  other  plan  subject  to  the  prohibited
      transaction provisions of ERISA or Section 4975 of the Code, or any Person
      (including an investment  manager,  a named  fiduciary or a trustee of any
      such  plan) who is using  "plan  assets"  of any such plan to effect  such
      acquisition  (each,  a "Plan  Investor") or (b) in the case of any Class M
      Certificate  or  Class  B  Certificate,   the  following   conditions  are
      satisfied: (i) such Transferee is an insurance company, (ii) the source of
      funds used to purchase or hold such  Certificate (or interest  therein) is
      an "insurance  company general account" (as defined in U.S.  Department of
      Labor Prohibited  Transaction Class Exemption  ("PTCE") 95-60),  and (iii)
      the  conditions  set forth in  Sections  I and III of PTCE 95-60 have been
      satisfied  (each  entity that  satisfies  this  clause  (b), a  "Complying
      Insurance Company").

                  (ii)  Notwithstanding the foregoing,  an Opinion of Counsel or
            certification  will not be required  with respect to the transfer of
            any  Class M  Certificate  to a  Depository,  or for any  subsequent
            transfer  of any  interest in a Class M  Certificate  for so long as
            such  Certificate  is a  Book-Entry  Certificate  (each such Class M
            Certificate,  a "Book-Entry Mezzanine Certificate").  Any Transferee
            of a  Book-Entry  Mezzanine  Certificate  will  be  deemed  to  have
            represented by virtue of its purchase or holding of such Certificate
            (or interest  therein) that either (a) such Transferee is not a Plan
            Investor or (b) such Transferee is a Complying Insurance Company.

                  (iii) (A) If any Class M Certificate (or any interest therein)
            is acquired or held in violation of the  provisions  of Section (ii)
            above,  then the last preceding  Transferee that either (i) is not a
            Plan  Investor or (ii) is a  Complying  Insurance  Company  shall be
            restored,  to  the  extent  permitted  by  law,  to all  rights  and
            obligations as Certificate Owner thereof  retroactive to the date of
            such  Transfer of such Class M  Certificate.  The  Trustee  shall be
            under no liability to any Person for making any payments due on such
            Certificate to such preceding Transferee.

                        (B) Any purported Certificate Owner whose acquisition or
holding


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                  of any Book-Entry Mezzanine  Certificate (or interest therein)
                  was effected in violation of the  restrictions in this Section
                  5.02(e) shall  indemnify  and hold  harmless the Company,  the
                  Trustee, the Master Servicer,  any Subservicer,  and the Trust
                  Fund from and against any and all liabilities,  claims,  costs
                  or  expenses  incurred  by such  parties  as a result  of such
                  acquisition or holding.

           (f) (i) Each Person who has or who acquires any Ownership Interest in
      a Class R 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 Class R Certificate are
      expressly subject to the following provisions:

                        (A) Each  Person  holding  or  acquiring  any  Ownership
                  Interest  in a  Class  R  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 Class R Certificate, the Trustee shall
                  require delivery to it, and shall not register the Transfer of
                  any Class R Certificate until its receipt of, (I) an affidavit
                  and agreement (a "Transfer  Affidavit and  Agreement,"  in the
                  form  attached  hereto  as  Exhibit  I-1)  from  the  proposed
                  Transferee,  in form and substance  satisfactory to the Master
                  Servicer,  representing  and  warranting,  among other things,
                  that it is a Permitted  Transferee,  that it is not  acquiring
                  its Ownership  Interest in the Class R 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 Class R
                  Certificate,   it  will   endeavor   to  remain  a   Permitted
                  Transferee,  and that it has reviewed the  provisions  of this
                  Section  5.02(f)  and  agrees to be bound by them,  and (II) a
                  certificate,  in the form attached hereto as Exhibit I-2, from
                  the Holder  wishing to transfer  the Class R  Certificate,  in
                  form  and  substance  satisfactory  to  the  Master  Servicer,
                  representing  and  warranting,  among  other  things,  that no
                  purpose of the proposed  Transfer is to impede the  assessment
                  or collection of tax.

                        (C) Notwithstanding the delivery of a Transfer Affidavit
                  and Agreement by a proposed Transferee under clause (B) above,
                  if a  Responsible  Officer of the  Trustee  who is assigned to
                  this   Agreement  has  actual   knowledge  that  the  proposed
                  Transferee  is not a Permitted  Transferee,  no Transfer of an
                  Ownership  Interest in a Class R Certificate  to such proposed
                  Transferee shall be effected.

                        (D) Each  Person  holding  or  acquiring  any  Ownership
                  Interest in a Class R Certificate shall agree (x) to require a
                  Transfer Affidavit and


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                  Agreement  from any other Person to whom such Person  attempts
                  to transfer its  Ownership  Interest in a Class R  Certificate
                  and (y) not to  transfer  its  Ownership  Interest  unless  it
                  provides a  certificate  to the  Trustee in the form  attached
                  hereto as Exhibit I-2.

                        (E)  Each  Person  holding  or  acquiring  an  Ownership
                  Interest in a Class R Certificate,  by purchasing an Ownership
                  Interest  in such  Certificate,  agrees  to give  the  Trustee
                  written  notice that it is a  "pass-through  interest  holder"
                  within the meaning of Temporary Treasury  Regulations  Section
                  1.67-  3T(a)(2)(i)(A)  immediately upon acquiring an Ownership
                  Interest in a Class R Certificate,  if it is, or is holding an
                  Ownership  Interest in a Class R  Certificate  on behalf of, a
                  "pass-through interest holder."

                 (ii) The  Trustee  will  register  the  Transfer of any Class R
            Certificate  only if it shall have  received the Transfer  Affidavit
            and Agreement,  a certificate of the Holder requesting such transfer
            in the form  attached  hereto as  Exhibit  I-2 and all of such other
            documents as shall have been reasonably required by the Trustee as a
            condition   to  such   registration.   Transfers   of  the  Class  R
            Certificates   to  Non-United   States   Persons  and   Disqualified
            Organizations  (as  defined in Section  860E(e)(5)  of the Code) are
            prohibited.

                 (iii)  (A) If any  Disqualified  Organization  shall  become  a
            holder of a Class R 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 Class R  Certificate.  If a
            Non-United  States  Person  shall  become  a  holder  of a  Class  R
            Certificate,  then the last preceding  United States 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 such  Transfer  of such Class R  Certificate.  If a
            transfer of a Class R  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  Class R  Certificate.  The
            Trustee   shall  be  under  no  liability  to  any  Person  for  any
            registration  of Transfer of a Class R  Certificate  that is in fact
            not permitted by this Section 5.02(f) 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 Class R Certificate in violation of the restrictions in this
                  Section  5.02(f)  and  to  the  extent  that  the  retroactive
                  restoration  of the  rights  of the  Holder  of  such  Class R
                  Certificate  as  described in clause  (iii)(A)  above shall be
                  invalid,  illegal or  unenforceable,  then the Master Servicer
                  shall  have the  right,  without  notice to the  holder or any
                  prior holder of such Class R Certificate, to sell such Class R
                  Certificate to a purchaser  selected by the Master Servicer on
                  such terms as the Master  Servicer may choose.  Such purported
                  Transferee  shall  promptly  endorse and deliver  each Class R
                  Certificate in accordance with the


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                  instructions of the Master Servicer. Such purchaser may be the
                  Master   Servicer  itself  or  any  Affiliate  of  the  Master
                  Servicer.  The proceeds of such sale,  net of the  commissions
                  (which may include  commissions payable to the Master Servicer
                  or its  Affiliates),  expenses and taxes due, if any,  will be
                  remitted by the Master Servicer 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
                  Master  Servicer,  and the Master Servicer shall not be liable
                  to any  Person  having  an  Ownership  Interest  in a  Class R
                  Certificate as a result of its exercise of such discretion.

                 (iv) The Master Servicer, 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 Class R Certificate to any Person who
            is a Disqualified Organization,  including the information regarding
            "excess  inclusions"  of such Class R  Certificates  required  to be
            provided to the  Internal  Revenue  Service  and certain  Persons as
            described  in  Treasury  Regulations  Sections   1.860D-1(b)(5)  and
            1.860E-2(a)(5),  and (B) as a  result  of any  regulated  investment
            company,   real  estate   investment   trust,   common  trust  fund,
            partnership, trust, estate or organization described in Section 1381
            of  the  Code  that  holds  an  Ownership  Interest  in  a  Class  R
            Certificate  having  as among  its  record  holders  at any time any
            Person who is a Disqualified  Organization.  Reasonable compensation
            for  providing  such  information  may be  required  by  the  Master
            Servicer from such Person.

                 (v) The  provisions of this Section  5.02(f) set forth prior to
            this clause (v) may be modified,  added to or  eliminated,  provided
            that there shall have been delivered to the Trustee the following:

                        (A) written  notification from each Rating Agency to the
                  effect that the  modification,  addition to or  elimination of
                  such provisions will not cause such Rating Agency to downgrade
                  its then-current ratings, if any, of any Class of the Class A,
                  Class M,  Class B or Class R  Certificates  below the lower of
                  the  then-current  rating  or  the  rating  assigned  to  such
                  Certificates as of the Closing Date by such Rating Agency; and

                        (B) subject to Section  10.01(f),  a certificate  of the
                  Master Servicer  stating that the Master Servicer has received
                  an Opinion of Counsel,  in form and substance  satisfactory to
                  the Master  Servicer,  to the effect  that such  modification,
                  addition  to or  absence  of such  provisions  will not  cause
                  either  REMIC I or REMIC II to cease to qualify as a REMIC and
                  will not cause (x) either REMIC I or REMIC II to be subject to
                  an  entity-level  tax  caused by the  Transfer  of any Class R
                  Certificate to a Person that is a Disqualified Organization or
                  (y) a  Certificateholder  or another Person to be subject to a
                  REMIC-related  tax  caused  by  the  Transfer  of  a  Class  R
                  Certificate to a Person that is not a Permitted Transferee.

           (g) No service  charge  shall be made for any transfer or exchange of
Certificates


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      of any Class,  but the Trustee may require  payment of a sum sufficient to
      cover any tax or  governmental  charge  that may be imposed in  connection
      with any transfer or exchange of Certificates.

           (h) All  Certificates  surrendered for transfer and exchange shall be
      destroyed by the Certificate Registrar.

     SECTION 5.03.   Mutilated, Destroyed, Lost or Stolen Certificates.

      If (i)  any  mutilated  Certificate  is  surrendered  to  the  Certificate
Registrar,  or the Trustee and the  Certificate  Registrar  receive  evidence to
their  satisfaction of the destruction,  loss or theft of any  Certificate,  and
(ii) there is  delivered  to the  Trustee  and the  Certificate  Registrar  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 the Certificate  Registrar that
such  Certificate has been acquired by a bona fide purchaser,  the Trustee shall
execute  and the  Certificate  Registrar  shall  authenticate  and  deliver,  in
exchange  for or in lieu  of any  such  mutilated,  destroyed,  lost  or  stolen
Certificate,  a new Certificate of like tenor, Class and Percentage Interest but
bearing a number not contemporaneously outstanding. Upon the issuance of any new
Certificate  under this  Section,  the  Trustee 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  and the  Certificate  Registrar)  connected  therewith.  Any  duplicate
Certificate  issued  pursuant to this  Section  shall  constitute  complete  and
indefeasible  evidence of ownership in the Trust Fund, as if originally  issued,
whether or not the lost,  stolen or destroyed  Certificate shall be found at any
time.

     SECTION 5.04.   Persons Deemed Owners.

      Prior to due  presentation of a Certificate for  registration of transfer,
the Company, the Master Servicer, the Trustee, the Certificate Registrar and any
agent of the  Company,  the Master  Servicer,  the  Trustee  or the  Certificate
Registrar  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 4.02 and for all other purposes whatsoever, except as and to
the extent  provided in the definition of  "Certificateholder,"  and neither the
Company,  the Master Servicer,  the Trustee,  the Certificate  Registrar nor any
agent of the  Company,  the Master  Servicer,  the  Trustee  or the  Certificate
Registrar  shall be  affected  by notice to the  contrary  except as provided in
Section 5.02(f).

     SECTION 5.05.   Appointment of Paying Agent.

      The  Trustee  may  appoint  a  Paying  Agent  for the  purpose  of  making
distributions to the  Certificateholders  pursuant to Section 4.02. In the event
of any  such  appointment,  on or  prior to each  Distribution  Date the  Master
Servicer on behalf of the Trustee  shall  deposit or cause to be deposited  with
the Paying Agent a sum sufficient to make the payments to the Certificateholders
in the amounts and in the manner  provided for in Section  4.02,  such sum to be
held in trust for the benefit of the Certificateholders.

      The Trustee  shall  cause each Paying  Agent to execute and deliver to the
Trustee an  instrument  in which such Paying  Agent shall agree with the Trustee
that such  Paying  Agent  will hold all sums held by it for the  payment  to the
Certificateholders in trust for the benefit of the


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Certificateholders  entitled  thereto  until  such  sums  shall  be paid to such
Certificateholders.  Any sums so held by such Paying Agent shall be held only in
Eligible   Accounts  to  the  extent  such  sums  are  not  distributed  to  the
Certificateholders on the date of receipt by such Paying Agent.

     SECTION 5.06.   Optional Purchase of Certificates.

           (a) On any  Distribution  Date on  which  the Pool  Stated  Principal
      Balance is less than ten percent of the Cut-off Date Principal  Balance of
      the Mortgage  Loans,  either the Master Servicer or the Company shall have
      the right, at its option,  to purchase the  Certificates in whole, but not
      in part, at a price equal to the outstanding Certificate Principal Balance
      of such Certificates plus the sum of Accrued Certificate  Interest thereon
      for the related Interest Accrual Period and any previously  unpaid Accrued
      Certificate Interest.

           (b) The Master Servicer or the Company, as applicable, shall give the
      Trustee not less than 60 days' prior  notice of the  Distribution  Date on
      which the Master Servicer or the Company, as applicable,  anticipates that
      it will purchase the Certificates  pursuant to Section 5.06(a).  Notice of
      any such purchase, specifying the Distribution Date upon which the Holders
      may surrender their  Certificates to the Trustee for payment in accordance
      with this Section 5.06,  shall be given promptly by the Master Servicer or
      the Company, as applicable,  by letter to Certificateholders  (with a copy
      to the  Certificate  Registrar and each Rating  Agency) mailed not earlier
      than the  15th day and not  later  than  the  25th day of the  month  next
      preceding the month of such final distribution, specifying:

                 (i)  the   Distribution   Date  upon  which   purchase  of  the
            Certificates  is  anticipated  to  be  made  upon  presentation  and
            surrender  of such  Certificates  at the  office  or  agency  of the
            Trustee therein designated,

                 (ii)   the purchase price therefor, if known, and

                 (iii)  that  the  Record  Date  otherwise  applicable  to  such
            Distribution  Date is not applicable,  payments being made only upon
            presentation  and  surrender  of the  Certificates  at the office or
            agency of the Trustee therein specified.

If either the Master Servicer or the Company gives the notice  specified  above,
the  Master  Servicer  or the  Company,  as  applicable,  shall  deposit  in the
Certificate  Account before the Distribution Date on which the purchase pursuant
to Section  5.06(a) is to be made, in  immediately  available  funds,  an amount
equal to the purchase price for the Certificates computed as provided above.

           (c)  Upon  presentation  and  surrender  of  the  Certificates  to be
      purchased pursuant to Section 5.06(a) by the Holders thereof,  the Trustee
      shall  distribute  to such  Holders  an  amount  equal to the  outstanding
      Certificate  Principal Balance thereof plus the sum of Accrued Certificate
      Interest   thereon  for  the  related  Interest  Accrual  Period  and  any
      previously unpaid Accrued Certificate Interest with respect thereto.

           (d) In the event that any  Certificateholders  do not surrender their
      Certificates  on or  before  the  Distribution  Date on  which a  purchase
      pursuant to this  Section  5.06 is to be made,  the Trustee  shall on such
      date cause all funds in the Certificate  Account  deposited therein by the
      Master Servicer or the Company, as applicable, pursuant to Section 5.06(b)


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      to be withdrawn  therefrom and deposited in a separate  escrow account for
      the  benefit of such  Certificateholders,  and the Master  Servicer or the
      Company,  as  applicable,  shall  give a  second  written  notice  to such
      Certificateholders  to  surrender  their  Certificates  for payment of the
      purchase price therefor.  If within six months after the second notice any
      Certificate shall not have been surrendered for cancellation,  the Trustee
      shall take  appropriate  steps as directed  by the Master  Servicer or the
      Company,  as  applicable,  to contact  the  Holders  of such  Certificates
      concerning  surrender  of their  Certificates.  The costs and  expenses of
      maintaining the escrow account and of contacting  Certificateholders shall
      be paid out of the assets  which remain in the escrow  account.  If within
      nine months after the second notice any  Certificates  shall not have been
      surrendered  for  cancellation  in accordance  with this Section 5.06, the
      Trustee shall pay to the Master  Servicer or the Company,  as  applicable,
      all amounts  distributable  to the Holders thereof and the Master Servicer
      or the Company,  as applicable,  shall  thereafter hold such amounts until
      distributed to such Holders. No interest shall accrue or be payable to any
      Certificateholder  on any  amount  held in the  escrow  account  or by the
      Master  Servicer  or the  Company,  as  applicable,  as a  result  of such
      Certificateholder's failure to surrender its Certificate(s) for payment in
      accordance with this Section 5.06. Any Certificate that is not surrendered
      on the Distribution Date on which a purchase pursuant to this Section 5.06
      occurs as  provided  above will be deemed to have been  purchased  and the
      Holder as of such date will have no rights with respect  thereto except to
      receive  the  purchase   price  therefor  minus  any  costs  and  expenses
      associated  with such escrow account and notices  allocated  thereto.  Any
      Certificates  so  purchased  or  deemed  to have  been  purchased  on such
      Distribution Date shall remain outstanding hereunder.  The Master Servicer
      or the  Company,  as  applicable,  shall be for all  purposes  the  Holder
      thereof as of such date.

ARTICLE VI

                     THE COMPANY AND THE MASTER SERVICER

     SECTION  6.01.  Respective  Liabilities  of  the  Company  and  the  Master
Servicer.

      The Company  and the Master  Servicer  shall each be liable in  accordance
herewith only to the extent of the  obligations  specifically  and  respectively
imposed upon and undertaken by the Company and the Master  Servicer  herein.  By
way of  illustration  and not  limitation,  the  Company  is not  liable for the
servicing  and  administration  of the  Mortgage  Loans,  nor is it obligated by
Section 7.01 or Section 10.01 to assume any  obligations of the Master  Servicer
or to appoint a designee  to assume such  obligations,  nor is it liable for any
other  obligation  hereunder that it may, but is not obligated to, assume unless
it elects to assume such obligation in accordance herewith.

      SECTION        6.02.  Merger or Consolidation of the Company or the Master
                     Servicer;  Assignment of Rights and Delegation of Duties by
                     Master Servicer.

           (a) The Company and the Master Servicer will each keep in full effect
      its existence,  rights and  franchises as a corporation  under the laws of
      the state of its  incorporation,  and will each  obtain and  preserve  its
      qualification to do business as a foreign corporation in each jurisdiction
      in which  such  qualification  is or shall be  necessary  to  protect  the
      validity and enforceability of this Agreement,  the Certificates or any of
      the  Mortgage  Loans and to  perform  its  respective  duties  under  this
      Agreement.


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           (b) Any Person into which the Company or the Master  Servicer  may be
      merged or  consolidated,  or any corporation  resulting from any merger or
      consolidation  to which the  Company  or the  Master  Servicer  shall be a
      party,  or any Person  succeeding  to the  business  of the Company or the
      Master  Servicer,  shall be the  successor  of the  Company  or the Master
      Servicer,  as the case may be, 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;  provided,  however, that
      the  successor  or  surviving  Person  to the  Master  Servicer  shall  be
      qualified  to  service  mortgage  loans on behalf  of FNMA or  FHLMC;  and
      provided further that each Rating Agency's  ratings,  if any, of the Class
      A, Class M, Class B or Class R Certificates in effect immediately prior to
      such merger or consolidation  will not be qualified,  reduced or withdrawn
      as a result  thereof  (as  evidenced  by a letter to such effect from each
      Rating Agency).

           (c)  Notwithstanding  anything  else in this Section 6.02 and Section
      6.04 to the  contrary,  the  Master  Servicer  may  assign  its rights and
      delegate its duties and obligations  under this  Agreement;  provided that
      the Person accepting such assignment or delegation shall be a Person which
      is  qualified  to service  mortgage  loans on behalf of FNMA or FHLMC,  is
      reasonably  satisfactory  to the  Trustee and the  Company,  is willing to
      service the  Mortgage  Loans and  executes and delivers to the Company and
      the Trustee an agreement, in form and substance reasonably satisfactory to
      the Company and the Trustee,  which  contains an assumption by such Person
      of the due and punctual  performance  and  observance of each covenant and
      condition to be performed  or observed by the Master  Servicer  under this
      Agreement;  provided  further  that  each  Rating  Agency's  rating of the
      Classes of Certificates  that have been rated in effect  immediately prior
      to such  assignment  and  delegation  will not be  qualified,  reduced  or
      withdrawn as a result of such assignment and delegation (as evidenced by a
      letter to such effect from each  Rating  Agency).  In the case of any such
      assignment and delegation,  the Master Servicer shall be released from its
      obligations  under this  Agreement,  except that the Master Servicer shall
      remain liable for all liabilities and obligations incurred by it as Master
      Servicer  hereunder  prior to the  satisfaction  of the conditions to such
      assignment and delegation set forth in the next preceding sentence.

      SECTION 6.03.  Limitation on Liability of the Company, the Master Servicer
and Others.


      Neither  the  Company,  the  Master  Servicer  nor  any of the  directors,
officers,  employees  or agents of the Company or the Master  Servicer  shall be
under any liability to the Trust Fund or the  Certificateholders  for any action
taken or for 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 Servicer or any such Person
against any breach of warranties or representations made herein or 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 obligations and duties  hereunder.  The Company,  the Master Servicer and any
director,  officer,  employee or agent of the Company or the Master Servicer may
rely in good faith on any document of any kind prima facie properly executed and
submitted by any Person respecting any matters arising  hereunder.  The Company,
the Master Servicer and any director,  officer, employee or agent of the Company
or the Master  Servicer shall be indemnified by the Trust Fund and held harmless
against any loss,  liability or expense  incurred in  connection  with any legal
action


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relating to this Agreement or the Certificates,  other than any loss,  liability
or expense  related to any specific  Mortgage Loan or Mortgage  Loans (except as
any such loss, liability or expense shall be otherwise  reimbursable pursuant to
this Agreement) and any loss, liability or expense 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.

      Neither the Company nor the Master  Servicer shall be under any obligation
to  appear  in,  prosecute  or  defend  any  legal  or  administrative   action,
proceeding,  hearing or  examination  that is not  incidental to its  respective
duties  under this  Agreement  and which in its  opinion  may  involve it in any
expense or liability; provided, however, that the Company or the Master Servicer
may  in its  discretion  undertake  any  such  action,  proceeding,  hearing  or
examination that it may deem necessary or desirable in respect to this Agreement
and 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,  proceeding,  hearing or  examination  and any liability  resulting
therefrom  shall be expenses,  costs and  liabilities of the Trust Fund, and the
Company and the Master Servicer shall be entitled to be reimbursed  therefor out
of amounts  attributable  to the  Mortgage  Loans on  deposit  in the  Custodial
Account as provided by Section 3.10 and, on the Distribution  Date(s)  following
such reimbursement,  the aggregate of such expenses and costs shall be allocated
in reduction of the Accrued Certificate  Interest on each Class entitled thereto
in the same  manner as if such  expenses  and  costs  constituted  a  Prepayment
Interest Shortfall.

     SECTION 6.04.   Company and Master Servicer Not to Resign.

      Subject to the  provisions  of Section  6.02,  neither the Company nor the
Master  Servicer shall resign from its respective  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 or the Master  Servicer  shall be  evidenced  by an
Opinion of Counsel to such effect delivered to the Trustee.  No such resignation
by the Master  Servicer shall become  effective until the Trustee or a successor
servicer  shall  have  assumed  the  Master  Servicer's   responsibilities   and
obligations in accordance with Section 7.02.


ARTICLE VII

                                   DEFAULT

     SECTION 7.01.   Events of Default.

      Event of Default,  wherever  used herein,  means any one of the  following
events  (whatever  reason  for such  Event of  Default  and  whether it shall be
voluntary or  involuntary  or be effected by operation of law or pursuant to any
judgment,  decree or order of any court or any order,  rule or regulation of any
administrative or governmental body):

                 (i) the Master Servicer shall fail to distribute or cause to be
            distributed  to  the  Holders  of  Certificates  of  any  Class  any
            distribution required to be made under the terms of the Certificates
            of such Class and this Agreement  and, in either case,  such failure
            shall continue unremedied for a period of 5 days after the date upon


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            which written  notice of such failure,  requiring such failure to be
            remedied,  shall  have  been  given to the  Master  Servicer  by the
            Trustee or the  Company or to the Master  Servicer,  the Company and
            the Trustee by the Holders of Certificates of such Class  evidencing
            Percentage Interests aggregating not less than 25%; or

                 (ii) the  Master  Servicer  shall fail to observe or perform in
            any material respect any other of the covenants or agreements on the
            part of the Master  Servicer  contained in the  Certificates  of any
            Class  or  in  this   Agreement  and  such  failure  shall  continue
            unremedied  for a period of 30 days (except that such number of days
            shall  be 15 in the case of a  failure  to pay the  premium  for any
            Required Insurance Policy) after the date on which written notice of
            such  failure,  requiring  the same to be remedied,  shall have been
            given to the Master  Servicer by the Trustee or the  Company,  or to
            the Master  Servicer,  the Company and the Trustee by the Holders of
            Certificates of any Class evidencing, in the case of any such Class,
            Percentage Interests aggregating not less than 25%; or

                 (iii) a decree  or order of a court or  agency  or  supervisory
            authority having jurisdiction in the premises in an involuntary case
            under any present or future federal or state bankruptcy,  insolvency
            or similar law or appointing a conservator or receiver or liquidator
            in any 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
            Master  Servicer  and such  decree or order  shall have  remained in
            force undischarged or unstayed for a period of 60 days; or

                 (iv) the Master  Servicer shall consent to the appointment of a
            conservator   or  receiver   or   liquidator   in  any   insolvency,
            readjustment  of debt,  marshalling  of assets and  liabilities,  or
            similar  proceedings  of, or relating to, the Master Servicer or of,
            or  relating  to, all or  substantially  all of the  property of the
            Master Servicer; or

                 (v) the Master Servicer shall admit in writing its inability to
            pay its debts  generally as they become due, file a petition to take
            advantage  of, or commence a voluntary  case under,  any  applicable
            insolvency or  reorganization  statute,  make an assignment  for the
            benefit of its  creditors,  or  voluntarily  suspend  payment of its
            obligations; or

                 (vi) the Master  Servicer shall notify the Trustee  pursuant to
            Section  4.04(b)  that it is unable to  deposit  in the  Certificate
            Account an amount equal to the Advance.

      If an Event of Default  described in clauses (i)-(v) of this Section shall
occur,  then,  and in each and every such case, so long as such Event of Default
shall not have been remedied,  either the Company or the Trustee may, and at the
direction  of Holders  of  Certificates  entitled  to at least 51% of the Voting
Rights,  the Trustee shall,  by notice in writing to the Master Servicer (and to
the Company if given by the Trustee or to the Trustee if given by the  Company),
terminate all of the rights and  obligations  of the Master  Servicer under this
Agreement and in and to the Mortgage Loans and the proceeds thereof,  other than
its rights as a Certificateholder hereunder. If an Event of Default described in
clause (vi) hereof  shall  occur,  the  Trustee  shall,  by notice to the Master
Servicer and the


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Company,  immediately  terminate all of the rights and obligations of the Master
Servicer  under this Agreement and in and to the Mortgage Loans and the proceeds
thereof,  other than its rights as a Certificateholder  hereunder as provided in
Section 4.04(b).  On or after the receipt by the Master Servicer of such written
notice,  all authority and power of the Master  Servicer  under this  Agreement,
whether with respect to the Certificates (other than as a Holder thereof) or the
Mortgage Loans or otherwise, shall subject to Section 7.02 pass to and be vested
in the Trustee or the  Trustee's  designee  appointed  pursuant to Section 7.02;
and,  without  limitation,  the Trustee is hereby  authorized  and  empowered to
execute and deliver,  on behalf of the 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. The Master
Servicer  agrees to cooperate  with the Trustee in effecting the  termination of
the Master Servicer's responsibilities and rights hereunder,  including, without
limitation, the transfer to the Trustee or its designee for administration by it
of all cash amounts which shall at the time be credited to the Custodial Account
or the  Certificate  Account  or  thereafter  be  received  with  respect to the
Mortgage  Loans. No such  termination  shall release the Master Servicer for any
liability  that it would  otherwise have hereunder for any act or omission prior
to the effective time of such termination.

      Notwithstanding  any termination of the activities of Residential  Funding
in its  capacity as Master  Servicer  hereunder,  Residential  Funding  shall be
entitled  to  receive,  out of any late  collection  of a Monthly  Payment  on a
Mortgage  Loan  which  was  due  prior  to the  notice  terminating  Residential
Funding's rights and obligations as Master Servicer hereunder and received after
such notice,  that portion to which Residential Funding would have been entitled
pursuant to Sections 3.10(a)(ii), (vi) and (vii) as well as its Servicing Fee in
respect thereof,  and any other amounts payable to Residential Funding hereunder
the  entitlement  to which  arose  prior to the  termination  of its  activities
hereunder.  Upon the  termination  of  Residential  Funding  as Master  Servicer
hereunder the Company shall deliver to the Trustee a copy of the Program Guide.

     SECTION 7.02.   Trustee or Company to Act; Appointment of Successor.

      On and after the time the Master Servicer receives a notice of termination
pursuant to Section 7.01 or resigns in accordance with Section 6.04, the Trustee
or, upon notice to the Company and with the Company's  consent  (which shall not
be unreasonably withheld) a designee (which meets the standards set forth below)
of the Trustee, shall be the successor in all respects to the Master Servicer in
its capacity as servicer under this Agreement and the  transactions set forth or
provided for herein and shall be subject to all the responsibilities, duties and
liabilities  relating  thereto  placed on the Master  Servicer  (except  for the
responsibilities, duties and liabilities contained in Sections 2.02 and 2.03(a),
excluding  the duty to notify  related  Subservicers  or Sellers as set forth in
such  Sections,  and its  obligations  to  deposit  amounts in respect of losses
incurred  prior to such notice or  termination on the investment of funds in the
Custodial  Account or the Certificate  Account  pursuant to Sections 3.07(c) and
4.01(b) by the terms and provisions hereof); provided, however, that any failure
to  perform  such  duties or  responsibilities  caused by the  preceding  Master
Servicer's failure to provide information  required by Section 4.04 shall not be
considered a default by the Trustee  hereunder.  As compensation  therefor,  the
Trustee shall be entitled to all funds  relating to the Mortgage Loans which the
Master  Servicer would have been entitled to charge to the Custodial  Account or
the  Certificate  Account if the Master  Servicer had continued to act hereunder
and, in addition, shall be entitled to


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the income from any Permitted  Investments made with amounts attributable to the
Mortgage Loans held in the Custodial Account or the Certificate  Account. If the
Trustee  has become the  successor  to the Master  Servicer in  accordance  with
Section 6.04 or Section 7.01, then  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,  which is also a FNMA- or
FHLMC-approved  mortgage servicing  institution,  having a net worth of not less
than  $10,000,000  as the  successor  to the Master  Servicer  hereunder  in the
assumption of all or any part of the responsibilities,  duties or liabilities of
the Master Servicer hereunder.  Pending appointment of a successor to the Master
Servicer  hereunder,  the Trustee shall become  successor to the Master Servicer
and shall act in such capacity as hereinabove  provided. 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 be in
excess of that permitted the initial Master Servicer hereunder. The Company, the
Trustee,  the Custodian and such  successor  shall take such action,  consistent
with this  Agreement,  as shall be necessary to effectuate any such  succession.
The Servicing Fee for any successor Master Servicer  appointed  pursuant to this
Section 7.02 will be lowered with respect to those Mortgage Loans, if any, where
the Subservicing Fee accrues at a rate of less than 0.20% per annum in the event
that the successor Master Servicer is not servicing such Mortgage Loans directly
and it is necessary to raise the related Subservicing Fee to a rate of 0.20% per
annum in order to hire a Subservicer with respect to such Mortgage Loans.

     SECTION 7.03.   Notification to Certificateholders.

           (a) Upon any such  termination  or  appointment of a successor to the
      Master  Servicer,  the Trustee shall give prompt written notice thereof to
      the  Certificateholders  at their  respective  addresses  appearing in the
      Certificate Register.

           (b) Within 60 days after the occurrence of any Event of Default,  the
      Trustee shall  transmit by mail to all Holders of  Certificates  notice of
      each such Event of Default  hereunder  known to the  Trustee,  unless such
      Event of Default shall have been cured or waived.

     SECTION 7.04.   Waiver of Events of Default.

      The Holders  representing  at least 66% of the Voting Rights affected by a
default  or Event of  Default  hereunder  may  waive  such  default  or Event of
Default; provided,  however, that (a) a default or Event of Default under clause
(i) of Section  7.01 may be waived  only by all of the  Holders of  Certificates
affected by such default or Event of Default and (b) no waiver  pursuant to this
Section 7.04 shall affect the Holders of Certificates in the manner set forth in
Section  11.01(b)(i)  or (ii).  Upon any such  waiver of a  default  or Event of
Default by the Holders  representing  the requisite  percentage of Voting Rights
affected by such  default or Event of Default,  such default or Event of Default
shall cease to exist and shall be deemed to have been remedied for every purpose
hereunder.  No such waiver shall extend to any  subsequent  or other  default or
Event of  Default or impair any right  consequent  thereon  except to the extent
expressly so waived.


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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 their  exercise  as a prudent  investor  would
      exercise or use under the  circumstances in the conduct of such investor'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 conform to the requirements of this Agreement.  The
      Trustee shall notify the Certificateholders of any such documents which do
      not materially  conform to the requirements of this Agreement in the event
      that the Trustee,  after so  requesting,  does not receive  satisfactorily
      corrected documents.

            The  Trustee  shall  forward  or cause to be  forwarded  in a timely
      fashion the notices,  reports and  statements  required to be forwarded by
      the Trustee  pursuant to Sections 4.03,  4.06, 7.03 and 10.01. The Trustee
      shall furnish in a timely fashion to the Master Servicer such  information
      as the Master  Servicer may  reasonably  request from time to time for the
      Master Servicer to fulfill its duties as set forth in this Agreement.  The
      Trustee  covenants  and  agrees  that it  shall  perform  its  obligations
      hereunder  in a manner so as to  maintain  the  status of both REMIC I and
      REMIC II as REMICs  under the REMIC  Provisions  and  (subject  to Section
      10.01(f)) to prevent the imposition of any federal, state or local income,
      prohibited  transaction,  contribution  or other tax on either  REMIC I or
      REMIC II to the extent  that  maintaining  such status and  avoiding  such
      taxes are reasonably  within the control of the Trustee and are reasonably
      within the scope of its duties under 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 or waiver of all such  Events of  Default  which may have
            occurred,  the  duties  and  obligations  of the  Trustee  shall  be
            determined solely by the express  provisions of this Agreement,  the
            Trustee  shall  not be liable  except  for the  performance  of such
            duties  and  obligations  as are  specifically  set  forth  in  this
            Agreement,  no implied  covenants or obligations  shall be read into
            this Agreement  against the Trustee and, in the absence of bad faith
            on the part of the Trustee, the Trustee may conclusively rely, as to
            the truth of the  statements  and the  correctness  of the  opinions
            expressed  therein,  upon any certificates or opinions  furnished to
            the Trustee by the Company or the


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               Master  Servicer and which on their face, do not  contradict  the
               requirements of this Agreement;

                 (ii) The Trustee shall not be personally liable for an error of
            judgment made in good faith by a Responsible  Officer or Responsible
            Officers of the Trustee,  unless it shall be proved that the Trustee
            was negligent in ascertaining the pertinent facts;

                 (iii) The Trustee shall not be  personally  liable with respect
            to any action  taken,  suffered or omitted to be taken by it in good
            faith in accordance with the direction of  Certificateholders of any
            Class  holding  Certificates  which  evidence,  as  to  such  Class,
            Percentage  Interests  aggregating not less than 25% as to the time,
            method  and  place  of  conducting  any  proceeding  for any  remedy
            available to the Trustee, or exercising any trust or power conferred
            upon the Trustee, under this Agreement;

                 (iv) The Trustee  shall not be charged  with  knowledge  of any
            default  (other than a default in payment to the Trustee)  specified
            in clauses (i) and (ii) of Section 7.01 or an Event of Default under
            clauses  (iii),  (iv) and (v) of Section  7.01 unless a  Responsible
            Officer of the  Trustee  assigned  to and  working in the  Corporate
            Trust Office  obtains  actual  knowledge of such failure or event or
            the Trustee  receives written notice of such failure or event at its
            Corporate Trust Office from the Master Servicer,  the Company or any
            Certificateholder; and

                 (v) Except to the extent provided in Section 7.02, no provision
            in this  Agreement  shall  require the Trustee to expend or risk its
            own funds (including, without limitation, the making of any Advance)
            or  otherwise  incur  any  personal   financial   liability  in  the
            performance  of any of its  duties as Trustee  hereunder,  or in the
            exercise of any of its rights or powers,  if the Trustee  shall have
            reasonable grounds for believing that repayment of funds or adequate
            indemnity  against such risk or liability is not reasonably  assured
            to it.

           (d) The Trustee shall timely pay,  from its own funds,  the amount of
      any and all  federal,  state and local taxes  imposed on the Trust Fund or
      its assets or transactions including,  without limitation, (A) "prohibited
      transaction"  penalty  taxes as defined in Section  860F of the Code,  if,
      when  and  as  the  same  shall  be  due  and  payable,  (B)  any  tax  on
      contributions to a REMIC after the Closing Date imposed by Section 860G(d)
      of the Code and (C) any tax on "net income from  foreclosure  property" as
      defined in Section  860G(c) of the Code,  but only if such taxes arise out
      of a breach by the  Trustee of its  obligations  hereunder,  which  breach
      constitutes negligence or willful misconduct of the Trustee.

     SECTION 8.02.   Certain Matters Affecting the Trustee.

           (a)    Except as otherwise provided in Section 8.01:

                 (i) The  Trustee may rely and shall be  protected  in acting or
            refraining from acting upon any resolution,  Officers'  Certificate,
            certificate of auditors or any


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            other certificate,  statement,  instrument, opinion, report, notice,
            request,  consent, order, appraisal, 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 be under no obligation to exercise any
            of the  trusts  or  powers  vested  in it by  this  Agreement  or to
            institute, conduct or defend any litigation hereunder or in relation
            hereto  at  the   request,   order  or   direction  of  any  of  the
            Certificateholders,  pursuant to the  provisions of this  Agreement,
            unless  such  Certificateholders  shall have  offered to the Trustee
            reasonable  security or  indemnity  against the costs,  expenses and
            liabilities  which  may be  incurred  therein  or  thereby;  nothing
            contained  herein  shall,  however,   relieve  the  Trustee  of  the
            obligation,  upon the  occurrence of an Event of Default  (which has
            not been cured), to exercise such of the rights and powers vested in
            it by this  Agreement,  and to use the same degree of care and skill
            in their exercise as a prudent  investor would exercise or use under
            the circumstances in the conduct of such investor's own affairs;

                 (iv) The Trustee shall not be personally  liable for any action
            taken, suffered or omitted by it in good faith and believed by it to
            be authorized or within the discretion or rights or powers conferred
            upon it by this Agreement;

                 (v) Prior to the  occurrence  of an Event of Default  hereunder
            and  after  the  curing  of all  Events  of  Default  which may have
            occurred,  the Trustee shall not be bound to make any  investigation
            into the facts or  matters  stated in any  resolution,  certificate,
            statement,  instrument,  opinion, report, notice, request,  consent,
            order, approval,  bond or other paper or document,  unless requested
            in  writing  so  to do by  Holders  of  Certificates  of  any  Class
            evidencing, as to such Class, Percentage Interests,  aggregating not
            less than  50%;  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  afforded to it by the terms of this Agreement,  the
            Trustee may require  reasonable  indemnity  against  such expense or
            liability as a condition to so proceeding. The reasonable expense of
            every such examination  shall be paid by the Master Servicer,  if an
            Event  of  Default  shall  have  occurred  and  is  continuing,  and
            otherwise by the Certificateholder requesting the investigation;

                 (vi) The  Trustee  may  execute  any of the  trusts  or  powers
            hereunder or perform any duties  hereunder  either directly or by or
            through agents or attorneys; and

                 (vii)  To  the  extent   authorized  under  the  Code  and  the
            regulations  promulgated  thereunder,  each  Holder  of  a  Class  R
            Certificate hereby  irrevocably  appoints and authorizes the Trustee
            to be its attorney-in-fact for purposes of signing


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            any Tax  Returns  required  to be filed on behalf of the Trust Fund.
            The  Trustee  shall sign on behalf of the Trust Fund and  deliver to
            the Master  Servicer in a timely manner any Tax Returns  prepared by
            or on behalf of the Master  Servicer that the Trustee is required to
            sign as  determined  by the Master  Servicer  pursuant to applicable
            federal,  state or local tax laws, provided that the Master Servicer
            shall  indemnify  the Trustee for signing any such Tax Returns  that
            contain errors or omissions.

           (b) Following the issuance of the Certificates, the Trustee shall not
      accept any  contribution  of assets to the Trust Fund  unless  (subject to
      Section 10.01(f)) it shall have obtained or been furnished with an Opinion
      of Counsel to the effect that such  contribution will not (i) cause either
      REMIC I or REMIC  II to fail to  qualify  as a REMIC at any time  that any
      Certificates are outstanding or (ii) cause the Trust Fund to be subject to
      any federal tax as a result of such contribution (including the imposition
      of any federal tax on  "prohibited  transactions"  imposed  under  Section
      860F(a) of the Code).

     SECTION 8.03.   Trustee Not Liable for Certificates or Mortgage Loans.

      The  recitals  contained  herein and in the  Certificates  (other than the
execution of the  Certificates and relating to the acceptance and receipt of the
Mortgage  Loans) shall be taken as the  statements  of the Company or the Master
Servicer as the case may be, 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   (except  that  the
Certificates  shall be duly and  validly  executed  and  authenticated  by it as
Certificate  Registrar) or of any Mortgage Loan or related  document.  Except as
otherwise  provided herein,  the Trustee shall not be accountable for the use or
application by the Company or the Master Servicer of any of the  Certificates or
of the proceeds of such Certificates, or for the use or application of any funds
paid to the Company or the Master  Servicer in respect of the Mortgage  Loans or
deposited in or withdrawn from the Custodial Account or the Certificate  Account
by the Company or the Master Servicer.

     SECTION 8.04.   Trustee May Own Certificates.

      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.   Master  Servicer  to  Pay  Trustee's  Fees  and  Expenses;
     Indemnification.


           (a) The Master  Servicer  covenants  and agrees to pay to the Trustee
      and any  co-trustee  from time to time, and the Trustee and any co-trustee
      shall be entitled to, reasonable  compensation (which shall not be limited
      by any provision of law in regard to the  compensation  of a trustee of an
      express trust) for all services  rendered by each of them in the execution
      of the trusts hereby created and in the exercise and performance of any of
      the powers and duties hereunder of the Trustee and any co-trustee, and the
      Master  Servicer will pay or reimburse the Trustee and any co-trustee upon
      request for all reasonable  expenses,  disbursements and advances incurred
      or made by the Trustee or any  co-trustee  in  accordance  with any of the
      provisions of this Agreement  (including the reasonable  compensation  and
      the


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      expenses and disbursements of its counsel and of all persons not regularly
      in its employ,  and the expenses incurred by the Trustee or any co-trustee
      in  connection  with the  appointment  of an office or agency  pursuant to
      Section  8.12)  except any such  expense,  disbursement  or advance as may
      arise from its negligence or bad faith.

           (b) The Master  Servicer  agrees to indemnify the Trustee for, and to
      hold the Trustee harmless against, any loss, liability or expense incurred
      without  negligence or willful  misconduct on its part, arising out of, or
      in connection with, the acceptance and  administration  of the Trust Fund,
      including  the costs and  expenses  (including  reasonable  legal fees and
      expenses) of defending  itself  against any claim in  connection  with the
      exercise  or  performance  of any of  its  powers  or  duties  under  this
      Agreement and the Custodial Agreement, provided that:

                 (i) with  respect to any such  claim,  the  Trustee  shall have
            given the Master Servicer  written notice thereof promptly after the
            Trustee shall have actual knowledge thereof;

                 (ii)  while  maintaining  control  over  its own  defense,  the
            Trustee shall  cooperate and consult fully with the Master  Servicer
            in preparing such defense; and

                 (iii)  notwithstanding   anything  in  this  Agreement  to  the
            contrary,  the Master Servicer shall not be liable for settlement of
            any claim by the Trustee  entered into without the prior  consent of
            the  Master   Servicer  which  consent  shall  not  be  unreasonably
            withheld.

No termination of this Agreement  shall affect the  obligations  created by this
Section  8.05(b) of the Master  Servicer  to  indemnify  the  Trustee  under the
conditions and to the extent set forth herein.

      Notwithstanding the foregoing,  the indemnification provided by the Master
Servicer in this  Section  8.05(b)  shall not pertain to any loss,  liability or
expense of the Trustee,  including  the costs and  expenses of defending  itself
against any claim,  incurred in connection with any actions taken by the Trustee
at the  direction  of the  Certificateholders  pursuant  to the  terms  of  this
Agreement.

     SECTION 8.06.   Eligibility Requirements for Trustee.

      The Trustee  hereunder  shall at all times be a corporation  or a national
banking  association  having its principal office in a state and city acceptable
to the Company and organized and doing  business under the laws of such state or
the United States of America,  authorized under such laws to exercise  corporate
trust powers,  having a combined capital and surplus of at least $50,000,000 and
subject to supervision or  examination  by federal or state  authority.  If such
corporation or national banking  association  publishes  reports of condition at
least  annually,  pursuant  to  law  or to the  requirements  of  the  aforesaid
supervising  or examining  authority,  then for the purposes of this Section 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,  the  Trustee  shall  resign
immediately in the manner and with the effect specified in Section 8.07.


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     SECTION 8.07.   Resignation and Removal of the Trustee.

           (a) The  Trustee may at any time  resign and be  discharged  from the
      trusts hereby  created by giving  written  notice  thereof to the Company.
      Upon  receiving  such notice of  resignation,  the Company 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 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.

           (b)  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  Company,  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 Company 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 and one
      copy to the successor trustee. In addition,  in the event that the Company
      determines  that the Trustee has failed (i) to  distribute  or cause to be
      distributed  to  the   Certificateholders   any  amount   required  to  be
      distributed hereunder, if such amount is held by the Trustee or its Paying
      Agent (other than the Master Servicer or the Company) for  distribution or
      (ii) to otherwise  observe or perform in any  material  respect any of its
      covenants,  agreements or  obligations  hereunder,  and such failure shall
      continue  unremedied  for a period of 5 days (in  respect  of  clause  (i)
      above) or 30 days (in  respect  of clause  (ii)  above)  after the date on
      which written notice of such failure, requiring that the same be remedied,
      shall have been given to the Trustee by the Company,  then the Company may
      remove the Trustee and appoint a successor  trustee by written  instrument
      delivered as provided in the preceding  sentence.  In connection  with the
      appointment of a successor trustee pursuant to the preceding sentence, the
      Company shall, on or before the date on which any such appointment becomes
      effective,  obtain from each Rating Agency written  confirmation  that the
      appointment of any such successor trustee will not result in the reduction
      of the  ratings on any class of the  Certificates  below the lesser of the
      then current or original ratings on suc Certificates.

           (c) The  Holders  of  Certificates  entitled  to at least  51% of the
      Voting  Rights 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 Company,  one complete set
      to the  Trustee  so  removed  and one  complete  set to the  successor  so
      appointed.

           (d) Any  resignation  or removal of the Trustee and  appointment of a
      successor  trustee pursuant to any of the provisions of this Section shall
      become  effective upon acceptance of appointment by the successor  trustee
      as provided in Section 8.08.


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     SECTION 8.08.   Successor Trustee.

           (a) Any successor trustee appointed as provided in Section 8.07 shall
      execute,  acknowledge  and deliver to the  Company 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  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 the like effect as if originally named as
      trustee  herein.  The  predecessor  trustee shall deliver to the successor
      trustee all Mortgage Files and related documents and statements held by it
      hereunder  (other than any Mortgage Files at the time held by a Custodian,
      which shall become the agent of any successor trustee hereunder),  and the
      Company, the 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.

           (b) No successor trustee shall accept appointment as provided in this
      Section unless at the time of such acceptance such successor trustee shall
      be eligible under the provisions of Section 8.06.

           (c) Upon acceptance of appointment by a successor trustee as provided
      in this Section,  the Company shall mail notice of the  succession of such
      trustee  hereunder to all Holders of  Certificates  at their  addresses as
      shown in the  Certificate  Register.  If the  Company  fails to mail  such
      notice  within 10 days after  acceptance of  appointment  by the successor
      trustee, the successor trustee shall cause such notice to be mailed at the
      expense of the Company.

     SECTION 8.09.   Merger or Consolidation of Trustee.

      Any corporation or national banking association into which the Trustee may
be merged or converted or with which it may be  consolidated  or any corporation
or  national  banking  association  resulting  from any  merger,  conversion  or
consolidation  to which the  Trustee  shall be a party,  or any  corporation  or
national banking association succeeding to the business of the Trustee, shall be
the successor of the Trustee  hereunder,  provided such  corporation or national
banking  association  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.  The
Trustee  shall  mail  notice  of  any  such  merger  or   consolidation  to  the
Certificateholders at their address as shown in the Certificate Register.

     SECTION 8.10.   Appointment of Co-Trustee or Separate Trustee.

           (a) Notwithstanding any other provisions hereof, at any time, for the
      purpose of meeting any legal requirements of any jurisdiction in which any
      part of the Trust Fund or  property  securing  the same may at the time be
      located, the Master Servicer and the Trustee acting jointly shall have the
      power and shall execute and deliver all instruments to appoint one or more
      Persons  approved  by the  Trustee to act as  co-trustee  or  co-trustees,
      jointly with the Trustee, or separate trustee or separate trustees, of all
      or any part of the Trust Fund, and


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      to vest in such Person or  Persons,  in such  capacity,  such title to the
      Trust Fund, or any part thereof,  and,  subject to the other provisions of
      this Section 8.10, such powers, duties, obligations,  rights and trusts as
      the Master  Servicer and the Trustee may consider  necessary or desirable.
      If the Master Servicer 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. 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 Holders of
      Certificates of the appointment of  co-trustee(s)  or separate  trustee(s)
      shall be required under Section 8.08 hereof.

           (b) 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,  except to the extent that under any law of
      any  jurisdiction  in which any particular act or acts are to be performed
      (whether  as Trustee  hereunder  or as  successor  to the Master  Servicer
      hereunder),  the Trustee shall be  incompetent  or  unqualified to perform
      such  act or  acts,  in  which  event  such  rights,  powers,  duties  and
      obligations  (including  the  holding  of title to the  Trust  Fund or any
      portion thereof in any such jurisdiction) shall be exercised and performed
      by such separate trustee or co-trustee at the direction of the Trustee.

           (c) Any notice,  request or other  writing given to the Trustee shall
      be deemed to have been  given to each of the then  separate  trustees  and
      co-trustees,  as effectively as if given to each of them. Every instrument
      appointing  any  separate  trustee  or  co-trustee  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.

           (d) 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 trusts 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.   Appointment of Custodians.

      The Trustee may, with the consent of the Master  Servicer and the Company,
appoint one or more Custodians who are not Affiliates of the Company, the Master
Servicer or any Seller to hold all or a portion of the  Mortgage  Files as agent
for the  Trustee,  by entering  into a Custodial  Agreement.  Subject to Article
VIII, the Trustee agrees to comply with the terms of each Custodial


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Agreement and to enforce the terms and provisions  thereof against the Custodian
for the benefit of the Certificateholders.  Each Custodian shall be a depository
institution  subject to supervision by federal or state authority,  shall have a
combined  capital and surplus of at least  $15,000,000 and shall be qualified to
do  business  in the  jurisdiction  in which it holds any  Mortgage  File.  Each
Custodial  Agreement  may be amended  only as  provided  in Section  11.01.  The
Trustee shall notify the  Certificateholders of the appointment of any Custodian
(other than the  Custodian  appointed as of the Closing  Date)  pursuant to this
Section 8.11.

     SECTION 8.12.   Appointment of Office or Agency.

      The  Trustee  will  maintain  an  office or agency in the City of New York
where  Certificates may be surrendered for registration of transfer or exchange.
The Trustee initially  designates its offices located at Four Albany Street, New
York, New York 10006, for the purpose of keeping the Certificate  Register.  The
Trustee will maintain an office at the address stated in Section 11.05(c) hereof
where  notices and  demands to or upon the Trustee in respect of this  Agreement
may be served.

ARTICLE IX

                                 TERMINATION

     SECTION 9.01.  Termination  Upon  Purchase  by the Master  Servicer  or the
          Company or Liquidation of All Mortgage Loans.

           (a)  Subject  to  Section  9.03,  the  respective   obligations   and
      responsibilities  of the  Company,  the Master  Servicer  and the  Trustee
      created hereby in respect of the  Certificates  (other than the obligation
      of the Trustee to make certain payments after the Final  Distribution Date
      to  Certificateholders  and the  obligation of the Company to send certain
      notices as  hereinafter  set forth) shall  terminate  upon the last action
      required  to be  taken  by the  Trustee  on the  Final  Distribution  Date
      pursuant to this Article IX following the earlier of:

                 (i) the later of the final payment or other liquidation (or any
            Advance with respect thereto) of the last Mortgage Loan remaining in
            the Trust Fund or the  disposition  of all  property  acquired  upon
            foreclosure or deed in lieu of foreclosure of any Mortgage Loan, or

                 (ii) the purchase by the Master  Servicer or the Company of all
            Mortgage Loans and all property  acquired in respect of any Mortgage
            Loan  remaining  in the Trust  Fund at a price  equal to 100% of the
            unpaid principal balance of each Mortgage Loan or, if less than such
            unpaid  principal  balance,  the fair  market  value of the  related
            underlying  property of such  Mortgage Loan with respect to Mortgage
            Loans as to which title has been  acquired if such fair market value
            is less than such unpaid principal  balance (net of any unreimbursed
            Advances  attributable  to principal) on the day of repurchase  plus
            accrued  interest  thereon at the Net Mortgage Rate (or Modified Net
            Mortgage Rate in the case of any Modified Mortgage Loan) to, but not
            including, the first day of the month in which such repurchase price
            is distributed,  provided, however, that in no event shall the trust
            created hereby continue beyond the


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            expiration  of 21 years from the death of the last  survivor  of the
            descendants of Joseph P. Kennedy,  the late ambassador of the United
            States to the Court of St.  James,  living  on the date  hereof  and
            provided  further that the  purchase  price set forth above shall be
            increased as is necessary,  as determined by the Master Servicer, to
            avoid disqualification of either REMIC I or REMIC II as a REMIC.

      The right of the Master Servicer or the Company to purchase all the assets
of the Trust Fund  pursuant  to clause (ii) above is  conditioned  upon the Pool
Stated Principal  Balance as of the Final  Distribution Date being less than ten
percent of the Cut-off Date  Principal  Balance of the Mortgage  Loans.  If such
right is exercised by the Master  Servicer,  the Master Servicer shall be deemed
to have  been  reimbursed  for the  full  amount  of any  unreimbursed  Advances
theretofore  made by it with respect to the  Mortgage  Loans.  In addition,  the
Master Servicer or the Company, as applicable,  shall provide to the Trustee the
certification  required by Section 3.15 and the Trustee and any Custodian shall,
promptly following payment of the purchase price, release to the Master Servicer
or the Company,  as applicable,  the Mortgage  Files  pertaining to the Mortgage
Loans being purchased.

           (b) The Master Servicer or, in the case of a final  distribution as a
      result of the  exercise by the Company of its right to purchase the assets
      of the Trust  Fund,  the  Company  shall give the Trustee not less than 60
      days' prior notice of the  Distribution  Date on which the Master Servicer
      or the Company,  as applicable,  anticipates  that the final  distribution
      will be made to Certificateholders (whether as a result of the exercise by
      the Master  Servicer or the Company of its right to purchase the assets of
      the Trust Fund or otherwise).  Notice of any  termination,  specifying the
      anticipated  Final  Distribution  Date  (which  shall be a date that would
      otherwise be a Distribution  Date) upon which the  Certificateholders  may
      surrender  their  Certificates to the Trustee (if so required by the terms
      hereof) for payment of the final  distribution and cancellation,  shall be
      given promptly by the Master Servicer or the Company, as applicable (if it
      is exercising  its right to purchase the assets of the Trust Fund),  or by
      the Trustee (in any other case) by letter to the Certificateholders mailed
      not earlier than the 15th day and not later than the 25th day of the month
      next preceding the month of such final distribution specifying:

                 (i) the anticipated  Final  Distribution  Date upon which final
            payment  of  the   Certificates  is  anticipated  to  be  made  upon
            presentation  and surrender of  Certificates at the office or agency
            of the Trustee therein designated,

                 (ii) the amount of any such final payment, if known, and

                 (iii)  that  the  Record  Date  otherwise  applicable  to  such
            Distribution  Date is not applicable,  and in the case of the Senior
            Certificates  and Class M  Certificates,  that  payment will be made
            only upon  presentation  and  surrender of the  Certificates  at the
            office or agency of the Trustee therein specified.

If the Master  Servicer or the  Company,  as  applicable,  is  obligated to give
notice to  Certificateholders  as  aforesaid,  it shall give such  notice to the
Certificate Registrar at the time such notice is given to Certificateholders. In
the event such notice is given by the Master Servicer or the Company, the Master
Servicer or the Company, as applicable, shall deposit in the Certificate Account
before the Final  Distribution  Date in  immediately  available  funds an amount
equal to the purchase price for the


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assets of the Trust Fund computed as above provided.

           (c) In the  case  of the  Class  A,  Class  M,  Class  B and  Class R
      Certificates,  upon  presentation and surrender of the Certificates by the
      Certificateholders   thereof,   the  Trustee   shall   distribute  to  the
      Certificateholders   (i)  the  amount  otherwise   distributable  on  such
      Distribution  Date, if not in connection with the Master Servicer's or the
      Company's  election to repurchase,  or (ii) if the Master  Servicer or the
      Company  elected to so repurchase,  an amount  determined as follows:  (A)
      with respect to each  Certificate  the outstanding  Certificate  Principal
      Balance  thereof,  plus  Accrued  Certificate  Interest  for  the  related
      Interest  Accrual  Period  thereon  and  any  previously   unpaid  Accrued
      Certificate  Interest,  subject  to the  priority  set  forth  in  Section
      4.02(a),  and (B) with respect to the Class R Certificates,  any excess of
      the amounts  available for  distribution  (including the repurchase  price
      specified in clause (ii) of subsection (a) of this Section) over the total
      amount distributed under the immediately preceding clause (A).

           (d) In the event  that any  Certificateholders  shall  not  surrender
      their  Certificates  for final payment and  cancellation  on or before the
      Final Distribution Date (if so required by the terms hereof),  the Trustee
      shall  on such  date  cause  all  funds  in the  Certificate  Account  not
      distributed in final  distribution to  Certificateholders  to be withdrawn
      therefrom and credited to the remaining  Certificateholders  by depositing
      such  funds  in  a  separate  escrow  account  for  the  benefit  of  such
      Certificateholders,  and the Master Servicer or the Company, as applicable
      (if it exercised  its right to purchase the assets of the Trust Fund),  or
      the Trustee (in any other case) shall give a second  written notice to the
      remaining   Certificateholders   to  surrender  their   Certificates   for
      cancellation and receive the final  distribution with respect thereto.  If
      within six months after the second notice any  Certificate  shall not have
      been  surrendered  for  cancellation,  the Trustee shall take  appropriate
      steps as directed by the Master Servicer or the Company, as applicable, to
      contact the  remaining  Certificateholders  concerning  surrender of their
      Certificates. The costs and expenses of maintaining the escrow account and
      of  contacting  Certificateholders  shall be paid out of the assets  which
      remain in the  escrow  account.  If within  nine  months  after the second
      notice any Certificates  shall not have been surrendered for cancellation,
      the  Trustee  shall  pay  to  the  Master  Servicer  or  the  Company,  as
      applicable,  all  amounts  distributable  to the  holders  thereof and the
      Master Servicer or the Company, as applicable,  shall thereafter hold such
      amounts until distributed to such holders.  No interest shall accrue or be
      payable to any  Certificateholder on any amount held in the escrow account
      or by the Master  Servicer or the Company,  as applicable,  as a result of
      such Certificateholder's failure to surrender its Certificate(s) for final
      payment thereof in accordance with this Section 9.01.

     SECTION 9.02.   Termination of REMIC II.

      REMIC II shall be terminated on the earlier of the Final Distribution Date
and the date on which it is deemed to receive the last deemed  distributions  on
the  Uncertificated  REMIC I Regular  Interests and the last distribution due on
the Class A, Class M, Class B and Class R-II Certificates is made.


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     SECTION 9.03.   Additional Termination Requirements.

           (a) REMIC I and REMIC II as the case may be, shall be  terminated  in
      accordance with the following additional requirements,  unless (subject to
      Section  10.01(f))  the Trustee and the Master  Servicer  have received an
      Opinion of Counsel  (which  Opinion of Counsel  shall not be an expense of
      the  Trustee)  to the effect  that the failure of REMIC I and REMIC II, as
      the case may be, to comply with the requirements of this Section 9.03 will
      not (i)  result in the  imposition  on the  Trust of taxes on  "prohibited
      transactions,"  as described  in Section  860F of the Code,  or (ii) cause
      either  REMIC I or REMIC II to fail to qualify as a REMIC at any time that
      any Certificate is outstanding:

                 (i) The Master  Servicer shall  establish a 90-day  liquidation
            period for REMIC I and REMIC II, as the case may be, and specify the
            first day of such period in a statement attached to the Trust Fund's
            final Tax Return pursuant to Treasury  regulations Section 1.860F-1.
            The Master Servicer also shall satisfy all of the  requirements of a
            qualified  liquidation for REMIC I and REMIC II, as the case may be,
            under Section 860F of the Code and regulations thereunder;

                 (ii) The  Master  Servicer  shall  notify  the  Trustee  at the
            commencement of such 90-day  liquidation  period and, at or prior to
            the time of making of the final  payment  on the  Certificates,  the
            Trustee  shall sell or  otherwise  dispose  of all of the  remaining
            assets of the Trust Fund in accordance with the terms hereof; and

                 (iii) If the Master  Servicer or the Company is exercising  its
            right to purchase the assets of the Trust Fund, the Master  Servicer
            shall,  during the 90-day  liquidation period and at or prior to the
            Final  Distribution  Date,  purchase  all of the assets of the Trust
            Fund for cash; provided,  however, that in the event that a calendar
            quarter ends after the commencement of the 90-day liquidation period
            but prior to the Final Distribution Date, the Master Servicer or the
            Company shall not purchase any of the assets of the Trust Fund prior
            to the close of that calendar quarter.

           (b) Each Holder of a Certificate  and the Trustee hereby  irrevocably
      approves and appoints the Master Servicer as its attorney-in-fact to adopt
      a plan of complete  liquidation for REMIC I and REMIC II at the expense of
      the  Trust  Fund in  accordance  with the  terms  and  conditions  of this
      Agreement.


ARTICLE X

                               REMIC PROVISIONS

     SECTION 10.01.  REMIC Administration.

           (a) The REMIC  Administrator  shall make an election to treat each of
      REMIC I and REMIC II as a REMIC  under the Code and, if  necessary,  under
      applicable  state  law.  Each such  election  will be made on Form 1066 or
      other appropriate  federal tax or information return (including Form 8811)
      or any appropriate state return for the taxable year


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      ending on the last day of the calendar year in which the  Certificates are
      issued.  For the  purposes of the REMIC I election in respect of the Trust
      Fund,  Uncertificated REMIC I Regular Interests shall be designated as the
      "regular  interests" and the Class R-I Certificates shall be designated as
      the sole class of "residual  interest" in REMIC I. For the purposes of the
      REMIC II election in respect of the Trust Fund, each of the Class A (other
      than the Class A-V Certificates), Class M and Class B Certificates and the
      Uncertificated  REMIC II  Regular  Interests  shall be  designated  as the
      "regular interests" and the Class R-II Certificates shall be designated as
      the  sole  class  of   "residual   interests"   in  REMIC  II.  The  REMIC
      Administrator  and the  Trustee  shall  not  permit  the  creation  of any
      "interests" (within the meaning of Section 860G of the Code) in REMIC I or
      REMIC II other than the  Uncertificated  REMIC I Regular Interests and the
      Class R-I Certificates and the REMIC II Certificates,  the  Uncertificated
      REMIC II Regular Interests and the Class R-II Certificates, respectively.

           (b) The Closing Date is hereby designated as the "startup day" of the
      Trust Fund within the meaning of Section 860G(a)(9) of the Code.

           (c)  The  REMIC  Administrator  shall  hold  a  Class  R  Certificate
      representing  a  0.01%  Percentage  Interest  of  each  of the  Class  R-I
      Certificates  and Class R-II  Certificates and shall be designated as "the
      tax  matters  person"  with  respect to REMIC I and REMIC II in the manner
      provided  under  Treasury  regulations  section  1.860F-4(d)  and Treasury
      regulations section 301.6231(a)(7)-1.  Residential Funding, as tax matters
      person, shall (i) act on behalf of REMIC I and REMIC II in relation to any
      tax matter or controversy  involving the Trust Fund and (ii) represent the
      Trust Fund in any  administrative  or judicial  proceeding  relating to an
      examination  or audit by any  governmental  taxing  authority with respect
      thereto.  The legal expenses,  including without limitation  attorneys' or
      accountants'  fees,  and costs of any such  proceeding  and any  liability
      resulting  therefrom  shall be  expenses  of the Trust  Fund and the REMIC
      Administrator  shall be entitled to reimbursement  therefor out of amounts
      attributable to the Mortgage Loans on deposit in the Custodial  Account as
      provided by Section 3.10 unless such legal expenses and costs are incurred
      by reason of the REMIC Administrator's  willful misfeasance,  bad faith or
      gross  negligence.  If the REMIC  Administrator  is no longer  the  Master
      Servicer hereunder, at its option the REMIC Administrator may continue its
      duties as REMIC  Administrator  and shall be paid reasonable  compensation
      not to exceed $3,000 per year by any successor  Master Servicer  hereunder
      for so acting as the REMIC Administrator.

           (d) The REMIC Administrator shall prepare or cause to be prepared all
      of the Tax Returns that it determines  are required with respect to either
      REMIC I or REMIC II created  hereunder  and deliver  such Tax Returns in a
      timely  manner to the Trustee and the Trustee shall sign and file such Tax
      Returns in a timely  manner.  The expenses of preparing such returns shall
      be borne by the REMIC  Administrator  without  any right of  reimbursement
      therefor.  The REMIC  Administrator  agrees to indemnify and hold harmless
      the  Trustee  with  respect  to any  tax or  liability  arising  from  the
      Trustee's  signing of Tax Returns that contain  errors or  omissions.  The
      Trustee and Master Servicer shall promptly provide the REMIC Administrator
      with such  information  as the REMIC  Administrator  may from time to time
      request for the purpose of enabling the REMIC Administrator to prepare Tax
      Returns.


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           (e) The REMIC  Administrator shall provide (i) to any Transferor of a
      Class R Certificate  such  information as is necessary for the application
      of any tax relating to the transfer of a Class R Certificate to any Person
      who is not a  Permitted  Transferee,  (ii) to the  Trustee and the Trustee
      shall forward to the Certificateholders such information or reports as are
      required by the Code or the REMIC Provisions including reports relating to
      interest,  original issue  discount and market  discount or premium (using
      the Prepayment  Assumption) and (iii) to the Internal  Revenue Service the
      name, title,  address and telephone number of the person who will serve as
      the representative of each of REMIC I and REMIC II.

           (f) The Master Servicer and the REMIC  Administrator  shall take such
      actions and shall cause each of REMIC I and REMIC II created  hereunder to
      take such actions as are  reasonably  within the Master  Servicer's or the
      REMIC   Administrator's   control   and  the  scope  of  its  duties  more
      specifically  set  forth  herein as shall be  necessary  or  desirable  to
      maintain the status thereof as REMICs under the REMIC  Provisions (and the
      Trustee shall assist the Master Servicer and the REMIC  Administrator,  to
      the  extent  reasonably  requested  by the Master  Servicer  and the REMIC
      Administrator  to do so). The Master Servicer and the REMIC  Administrator
      shall not knowingly or intentionally take any action, cause either REMIC I
      or  REMIC II to take  any  action  or fail to take (or fail to cause to be
      taken) any action reasonably within their respective control,  that, under
      the REMIC Provisions, if taken or not taken, as the case may be, could (i)
      endanger  the  status  of  either  REMIC I or  REMIC II as a REMIC or (ii)
      result  in the  imposition  of a tax  upon  either  REMIC  I or  REMIC  II
      (including  but not  limited  to the  tax on  prohibited  transactions  as
      defined in Section  860F(a)(2) of the Code and the tax on contributions to
      a REMIC set forth in Section  860G(d) of the Code) (either such event,  in
      the absence of an Opinion of Counsel or the indemnification referred to in
      this sentence, an "Adverse REMIC Event") unless the Master Servicer or the
      REMIC Administrator, as applicable, has received an Opinion of Counsel (at
      the  expense of the party  seeking  to take such  action or, if such party
      fails  to  pay  such  expense,  and  the  Master  Servicer  or  the  REMIC
      Administrator, as applicable, determines that taking such action is in the
      best interest of the Trust Fund and the Certificateholders, at the expense
      of the Trust Fund, but in no event at the expense of the Master  Servicer,
      the  REMIC   Administrator   or  the  Trustee)  to  the  effect  that  the
      contemplated action will not, with respect to each of REMIC I and REMIC II
      created  hereunder,  endanger such status or, unless the Master  Servicer,
      the REMIC Administrator or both, as applicable,  determine in its or their
      sole discretion to indemnify the Trust Fund against the imposition of such
      a tax, result in the imposition of such a tax.  Wherever in this Agreement
      a  contemplated  action may not be taken because the timing of such action
      might result in the  imposition of a tax on the Trust Fund, or may only be
      taken  pursuant to an Opinion of Counsel that such action would not impose
      a tax on the Trust Fund,  such action may  nonetheless  be taken  provided
      that the  indemnity  given in the  preceding  sentence with respect to any
      taxes  that might be imposed on the Trust Fund has been given and that all
      other preconditions to the taking of such action have been satisfied.  The
      Trustee  shall  not  take  or  fail to take  any  action  (whether  or not
      authorized  hereunder)  as to  which  the  Master  Servicer  or the  REMIC
      Administrator,  as  applicable,  has  advised  it in  writing  that it has
      received an Opinion of Counsel to the effect  that an Adverse  REMIC Event
      could occur with respect to such action. In addition,  prior to taking any
      action  with  respect to REMIC I or REMIC II or their  assets,  or causing
      REMIC I and REMIC II to take any action,  which is not expressly permitted
      under the terms of this


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      Agreement,  the Trustee will consult with the Master Servicer or the REMIC
      Administrator,  as applicable, or its desgnee, in writing, with respect to
      whether  such  action  could  cause an Adverse  REMIC  Event to occur with
      respect  to REMIC I or REMIC II, and the  Trustee  shall not take any such
      action  or cause  REMIC I or REMIC II to take any such  action as to which
      the Master Servicer or the REMIC Administrator, as applicable, has advised
      it in writing that an Adverse REMIC Event could occur. The Master Servicer
      or the REMIC  Administrator,  as  applicable,  may consult with counsel to
      make such written advice, and the cost of same shall be borne by the party
      seeking to take the action not expressly permitted by this Agreement,  but
      in  no  event  at  the  expense  of  the  Master  Servicer  or  the  REMIC
      Administrator.  At all times as may be  required  by the Code,  the Master
      Servicer will to the extent within its control and the scope of its duties
      more  specifically  set forth herein,  maintain  substantially  all of the
      assets of REMIC I and REMIC II as  "qualified  mortgages"  as  defined  in
      Section  860G(a)(3) of the Code and "permitted  investments" as defined in
      Section 860G(a)(5) of the Code.

           (g) In the event that any tax is imposed on "prohibited transactions"
      of REMIC I and REMIC II created hereunder as defined in Section 860F(a)(2)
      of the Code, on "net income from foreclosure property" of REMIC I or REMIC
      II as defined in Section  860G(c)  of the Code,  on any  contributions  to
      REMIC I or REMIC II after the  Startup  Day  therefor  pursuant to Section
      860G(d)  of the  Code,  or any  other  tax is  imposed  by the Code or any
      applicable  provisions  of state  or local  tax  laws,  such tax  shall be
      charged (i) to the Master  Servicer,  if such tax arises out of or results
      from a breach by the Master Servicer of any of its obligations  under this
      Agreement or the Master Servicer has in its sole discretion  determined to
      indemnify  the Trust Fund against such tax,  (ii) to the Trustee,  if such
      tax arises out of or  results  from a breach by the  Trustee of any of its
      obligations  under this Article X, or (iii)  otherwise  against amounts on
      deposit in the  Custodial  Account as provided by Section  3.10 and on the
      Distribution  Date(s)  following such  reimbursement the aggregate of such
      taxes shall be allocated in reduction of the Accrued Certificate  Interest
      on each  Class  entitled  thereto  in the  same  manner  as if such  taxes
      constituted a Prepayment Interest Shortfall.

           (h) The Trustee and the Master Servicer shall, for federal income tax
      purposes,  maintain books and records with respect to REMIC I and REMIC II
      on a calendar year and on an accrual basis or as otherwise may be required
      by the REMIC Provisions.

           (i)  Following the Startup Day,  neither the Master  Servicer nor the
      Trustee  shall accept any  contributions  of assets to REMIC I or REMIC II
      unless  (subject to Section  10.01(f)) the Master Servicer and the Trustee
      shall have  received  an Opinion of Counsel  (at the  expense of the party
      seeking to make such  contribution)  to the effect that the  inclusion  of
      such assets in REMIC I or REMIC II will not cause  either REMIC I or REMIC
      II to fail to  qualify  as a REMIC at any time that any  Certificates  are
      outstanding  or  subject  REMIC I or REMIC II to any tax  under  the REMIC
      Provisions or other applicable provisions of federal,  state and local law
      or ordinances.

           (j) Neither the Master  Servicer  nor the Trustee  shall  (subject to
      Section  10.01(f)) enter into any arrangement by which REMIC I or REMIC II
      will receive a fee or other  compensation  for services nor permit  either
      such  REMIC to receive  any  income  from  assets  other  than  "qualified
      mortgages" as defined in Section 860G(a)(3) of the Code or "permitted


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      investments" as defined in Section 860G(a)(5) of the Code.

           (k) Solely for the  purposes  of Section  1.860G-1(a)(4)(iii)  of the
      Treasury  Regulations,  the "latest  possible  maturity date" by which the
      Certificate  Principal  Balance of each Class of Certificates  (other than
      the Class A-6  Certificates  and Class A-V  Certificates)  representing  a
      regular interest in REMIC II and the  Uncertificated  Principal Balance of
      each   Uncertificated   REMIC  I  Regular   Interest   (other   than  each
      Uncertificated REMIC I Regular Interest Z) and the rights to the Class A-6
      Certificates and Class A-V Certificates  would be reduced to zero is April
      25, 2029, which is the Distribution Date immediately  following the latest
      scheduled maturity of any Mortgage Loan. The latest possible Maturity Date
      for each  Uncertificated  REMIC I Regular  Interest  Z and  Uncertificated
      REMIC II Regular  Interest is April 25,  2029,  which is the  Distribution
      Date  immediately  following  the latest  scheduled  maturity  date of any
      Mortgage Loan.

           (l) Within 30 days after the Closing  Date,  the REMIC  Administrator
      shall  prepare  and file with the  Internal  Revenue  Service  Form  8811,
      "Information  Return for Real Estate Mortgage  Investment Conduits (REMIC)
      and Issuers of Collateralized Debt Obligations" for REMIC I and REMIC II.

           (m) Neither the Trustee nor the Master  Servicer shall sell,  dispose
      of or substitute for any of the Mortgage Loans (except in connection  with
      (i) the  default,  imminent  default or  foreclosure  of a Mortgage  Loan,
      including  but not  limited  to, the  acquisition  or sale of a  Mortgaged
      Property  acquired by deed in lieu of foreclosure,  (ii) the bankruptcy of
      REMIC I or REMIC II, (iii) the termination of REMIC I or REMIC II pursuant
      to Article IX of this  Agreement,  or (iv) a purchase  of  Mortgage  Loans
      pursuant  to Article II or III of this  Agreement)  nor acquire any assets
      for REMIC I or REMIC II,  nor sell or dispose  of any  investments  in the
      Custodial  Account  or the  Certificate  Account  for gain nor  accept any
      contributions to REMIC I and REMIC II after the Closing Date unless it has
      received an Opinion of Counsel that such sale,  disposition,  substitution
      or  acquisition  will not (a) affect  adversely  the status of REMIC I and
      REMIC II as REMICs or (b) unless the Master Servicer has determined in its
      sole  discretion to indemnify the Trust Fund against such tax, cause REMIC
      I or REMIC  II to be  subject  to a tax on  "prohibited  transactions"  or
      "contributions" pursuant to the REMIC Provisions.

     SECTION  10.02.   Master   Servicer,   REMIC   Administrator   and  Trustee
Indemnification.

           (a) The Trustee agrees to indemnify the Trust Fund, the Company,  the
      REMIC  Administrator  and the  Master  Servicer  for any  taxes  and costs
      including, without limitation, any reasonable attorneys fees imposed on or
      incurred  by the Trust  Fund,  the  Company or the Master  Servicer,  as a
      result of a breach of the Trustee's covenants set forth in Article VIII or
      this Article X.

           (b) The REMIC  Administrator  agrees to indemnify the Trust Fund, the
      Company,  the  Master  Servicer  and the  Trustee  for any taxes and costs
      (including, without limitation, any reasonable attorneys' fees) imposed on
      or incurred by the Trust Fund,  the  Company,  the Master  Servicer or the
      Trustee,  as a result of a breach of the REMIC  Administrator's  covenants
      set forth in this  Article X with  respect  to  compliance  with the REMIC
      Provisions,


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      including  without  limitation,  any penalties  arising from the Trustee's
      execution of Tax Returns prepared by the REMIC  Administrator that contain
      errors or omissions;  provided,  however,  that such liability will not be
      imposed to the extent  such  breach is a result of an error or omission in
      information  provided to the REMIC Administrator by the Master Servicer in
      which case Section 10.02(c) will apply.

           (c) The Master  Servicer  agrees to  indemnify  the Trust  Fund,  the
      Company,  the REMIC  Administrator and the Trustee for any taxes and costs
      (including, without limitation, any reasonable attorneys' fees) imposed on
      or incurred by the Trust Fund, the Company, the REMIC Administrator or the
      Trustee,  as a result of a breach of the Master  Servicer's  covenants set
      forth in this Article X or in Article III with respect to compliance  with
      the REMIC Provisions,  including without limitation, any penalties arising
      from  the  Trustee's  execution  of Tax  Returns  prepared  by the  Master
      Servicer that contain errors or omissions.


ARTICLE XI

                           MISCELLANEOUS PROVISIONS

     SECTION 11.01.  Amendment.

           (a) This  Agreement or any  Custodial  Agreement  may be amended from
      time to time by the Company, the Master Servicer and the Trustee,  without
      the consent of any of the Certificateholders:

                 (i)    to cure any ambiguity,

                 (ii) to correct or supplement any provisions herein or therein,
            which  may be  inconsistent  with any  other  provisions  herein  or
            therein or to correct any error,

                 (iii) to modify,  eliminate or add to any of its  provisions to
            such extent as shall be  necessary  or  desirable  to  maintain  the
            qualification  of the  REMIC I and  REMIC II as  REMICs at all times
            that any Certificate is outstanding or to avoid or minimize the risk
            of the  imposition of any tax on REMIC I or REMIC II pursuant to the
            Code that  would be a claim  against  REMIC I or REMIC II,  provided
            that the  Trustee  has  received an Opinion of Counsel to the effect
            that (A) such action is  necessary  or  desirable  to maintain  such
            qualification  or to avoid or minimize the risk of the imposition of
            any such tax and (B) such  action will not  adversely  affect in any
            material respect the interests of any Certificateholder,

                 (iv) to change the timing  and/or  nature of deposits  into the
            Custodial  Account or the Certificate  Account or to change the name
            in which the Custodial Account is maintained,  provided that (A) the
            Certificate Account Deposit Date shall in no event be later than the
            related  Distribution  Date, (B) such change shall not, as evidenced
            by an Opinion of Counsel,  adversely  affect in any material respect
            the interests of any Certificateholder and (C) such change shall not
            result  in a  reduction  of the  rating  assigned  to any  Class  of
            Certificates below the lower of the then-current


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            rating or the rating assigned to such Certificates as of the Closing
            Date,  as  evidenced  by a letter  from each  Rating  Agency to such
            effect,

                 (v) to modify,  eliminate or add to the  provisions  of Section
            5.02(f) or any other provision  hereof  restricting  transfer of the
            Class R-I  Certificates  and Class R-II  Certificates,  by virtue of
            their  being  the  "residual  interests"  in REMIC I and  REMIC  II,
            respectively,  provided  that (A) such  change  shall not  result in
            reduction of the rating  assigned to any such Class of  Certificates
            below the lower of the then-current rating or the rating assigned to
            such  Certificates  as of the Closing Date, as evidenced by a letter
            from each Rating  Agency to such  effect,  and (B) such change shall
            not  (subject to Section  10.01(f)),  as  evidenced by an Opinion of
            Counsel (at the expense of the party seeking so to modify, eliminate
            or add such provisions),  cause either REMIC I or REMIC II or any of
            the Certificateholders  (other than the transferor) to be subject to
            a  federal  tax  caused  by a  transfer  to a  Person  that is not a
            Permitted Transferee,

                 (vi) to make any other  provisions  with  respect to matters or
            questions  arising under this Agreement or such Custodial  Agreement
            which shall not be materially  inconsistent  with the  provisions of
            this Agreement, provided that such action shall not, as evidenced by
            an Opinion of Counsel,  adversely affect in any material respect the
            interests of any Certificateholder, or

                  (vii) to amend any  provision  herein or  therein  that is not
            material to any of the Certificateholders.

           (b) This  Agreement or any  Custodial  Agreement  may also be amended
      from time to time by the Company, the Master Servicer and the Trustee with
      the consent of the Holders of Certificates evidencing in the aggregate not
      less than 66% of the  Percentage  Interests of each Class of  Certificates
      affected  thereby for the purpose of adding any  provisions to or changing
      in any manner or  eliminating  any of the  provisions of this Agreement or
      such  Custodial  Agreement or of modifying in any manner the rights of the
      Holders of Certificates  of such Class;  provided,  however,  that no such
      amendment shall:

                 (i) reduce in any manner the amount of, or delay the timing of,
            payments  which are required to be  distributed  on any  Certificate
            without the consent of the Holder of such Certificate,

                 (ii) reduce the  aforesaid  percentage of  Certificates  of any
            Class the  Holders  of which are  required  to  consent  to any such
            amendment,  in any such case  without  the consent of the Holders of
            all Certificates of such Class then outstanding.

           (c)  Notwithstanding  any contrary  provision of this Agreement,  the
      Trustee  shall not consent to any  amendment to this  Agreement  unless it
      shall have first  received  an  Opinion  of  Counsel  (subject  to Section
      10.01(f) and at the expense of the party  seeking such  amendment)  to the
      effect that such  amendment  or the  exercise of any power  granted to the
      Master  Servicer,  the  Company  or the  Trustee in  accordance  with such
      amendment  will not result in the imposition of a federal tax on the Trust
      Fund or cause either REMIC I or REMIC


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      II to fail to  qualify  as a REMIC at any time  that  any  Certificate  is
outstanding.

           (d) Promptly  after the  execution of any such  amendment the Trustee
      shall furnish  written  notification of the substance of such amendment to
      each  Certificateholder.  It shall not be  necessary  for the  consent  of
      Certificateholders under this Section 11.01 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.

           (e) The Company  shall have the option,  in its sole  discretion,  to
      obtain  and  deliver  to  the  Trustee  any  corporate  guaranty,  payment
      obligation, irrevocable letter of credit, surety bond, insurance policy or
      similar instrument or a reserve fund, or any combination of the foregoing,
      for the  purpose of  protecting  the  Holders of the Class B  Certificates
      against  any  or  all  Realized  Losses  or  other  shortfalls.  Any  such
      instrument  or fund shall be held by the  Trustee  for the  benefit of the
      Class B Certificateholders, but shall not be and shall not be deemed to be
      under any circumstances included in the Trust Fund. To the extent that any
      such instrument or fund  constitutes a reserve fund for federal income tax
      purposes,  (i) any reserve fund so established shall be an outside reserve
      fund and not an asset of the Trust Fund,  (ii) any such reserve fund shall
      be owned by the Company,  and (iii) amounts  transferred by the Trust Fund
      to any such  reserve fund shall be treated as amounts  distributed  by the
      Trust Fund to the  Company  or any  successor,  all within the  meaning of
      Treasury  Regulations  Section  1.860G-2(h)  as it reads as of the Cut-off
      Date.  In connection  with the  provision of any such  instrument or fund,
      this Agreement and any provision hereof may be modified, added to, deleted
      or otherwise  amended in any manner that is related or  incidental to such
      instrument or fund or the  establishment or administration  thereof,  such
      amendment to be made by written instrument executed or consented to by the
      Company but without the consent of any  Certificateholder  and without the
      consent of the Master  Servicer or the Trustee being  required  unless any
      such  amendment  would impose any  additional  obligation on, or otherwise
      adversely affect the interests of the Holders of the Senior  Certificates,
      the Class M  Certificateholders,  the Master  Servicer or the Trustee,  as
      applicable;   provided  that  the  Company  obtains  (subject  to  Section
      10.01(f))  an  Opinion  of  Counsel  (which  need  not  be an  opinion  of
      Independent  counsel) to the effect that any such amendment will not cause
      (a) any  federal tax to be imposed on the Trust  Fund,  including  without
      limitation,  any federal tax imposed on  "prohibited  transactions"  under
      Section  860F(a)(1)  of the Code or on  "contributions  after the  startup
      date" under Section 860G(d)(1) of the Code and (b) either REMIC I or REMIC
      II to fail to  qualify  as a REMIC at any time  that  any  Certificate  is
      outstanding. In the event that the Company elects to provide such coverage
      in the form of a limited  guaranty  provided by General Motors  Acceptance
      Corporation, the Company may elect that the text of such amendment to this
      Agreement shall be  substantially in the form attached hereto as Exhibit M
      (in  which  case  Residential  Funding's   Subordinate   Certificate  Loss
      Obligation  as  described  in  such  exhibit  shall  be   established   by
      Residential  Funding's  consent to such  amendment)  and that the  limited
      guaranty shall be executed in the form attached  hereto as Exhibit N, with
      such  changes  as the  Company  shall  deem to be  appropriate;  it  being
      understood  that the Trustee has reviewed and approved the content of such
      forms and that the Trustee's consent or approval to the use thereof is not
      required.


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     SECTION 11.02.     Recordation of Agreement; Counterparts.

           (a) 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 other comparable jurisdictions in which any
      or all of the properties subject to the Mortgages are situated, and in any
      other appropriate  public recording office or elsewhere,  such recordation
      to be effected by the Master  Servicer  and at its expense on direction by
      the Trustee  (pursuant to the request of Holders of Certificates  entitled
      to at least 25% of the Voting Rights), 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.

           (b) 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 11.03.  Limitation on Rights of Certificateholders.

           (a) The  death  or  incapacity  of any  Certificateholder  shall  not
      operate to terminate  this  Agreement or the Trust Fund,  nor entitle such
      Certificateholder's  legal representatives or heirs to claim an accounting
      or to take any  action  or  proceeding  in any court  for a  partition  or
      winding up of the Trust Fund, nor otherwise affect the rights, obligations
      and liabilities of any of the parties hereto.

           (b) No  Certificateholder  shall  have any right to vote  (except  as
      expressly  provided  herein)  or  in  any  manner  otherwise  control  the
      operation  and  management of the Trust Fund,  or the  obligations  of the
      parties  hereto,  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.

           (c) No  Certificateholder  shall  have  any  right by  virtue  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  of any Class  evidencing  in the
      aggregate  not less than 25% of the related  Percentage  Interests of such
      Class,  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  it being  understood  and
      intended,  and being expressly covenanted by each  Certificateholder  with
      every other Certificateholder and the Trustee, that no one or more Holders
      of  Certificates  of any Class shall have any right in any manner whatever
      by virtue  of any  provision  of this  Agreement  to  affect,  disturb  or
      prejudice


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      the rights of the Holders of any other of such  Certificates of such Class
      or any  other  Class,  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 common benefit
      of  Certificateholders  of such Class or all Classes,  as the case may be.
      For the  protection  and  enforcement  of the  provisions  of this Section
      11.03, each and every  Certificateholder and the Trustee shall be entitled
      to such relief as can be given either at law or in equity.

     SECTION 11.04.  Governing Law.

      This agreement and the Certificates  shall be governed by and 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 11.05.  Notices.

      All demands and notices  hereunder shall be in writing and shall be deemed
to have been duly given if personally delivered at or mailed by registered mail,
postage prepaid (except for notices to the Trustee which shall be deemed to have
been duly given only when  received),  to (a) in the case of the  Company,  8400
Normandale Lake Boulevard,  Suite 600, Minneapolis,  Minnesota 55437, Attention:
President,  or such other  address as may  hereafter  be furnished to the Master
Servicer  and the  Trustee  in writing  by the  Company,  (b) in the case of the
Master Servicer, 10 Universal City Plaza, Suite 2100, Universal City, California
91608,  Attention:  Master  Servicer or such other  address as may be  hereafter
furnished to the Company and the Trustee by the Master Servicer in writing,  (c)
in the case of the Trustee,  Corporate  Trust Services  Division,  3 Park Plaza,
Irvine,  California 92614,  Attention:  Residential  Funding  Corporation Series
1999-S9 or such other  address as may  hereafter be furnished to the Company and
the Master  Servicer in writing by the  Trustee,  (d) in the case of Fitch IBCA,
One State Street Plaza,  New York, New York 10004,  or such other address as may
hereafter be furnished  to the Company,  the Trustee and the Master  Servicer in
writing by Fitch IBCA,  and (e) in the case of Standard & Poor's,  25  Broadway,
New York, New York 10004 or such other address as may be hereafter  furnished to
the  Company,  the  Trustee and the Master  Servicer  by Standard & Poor's.  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.

     SECTION 11.06.  Notices to Rating Agency.

      The Company,  the Master  Servicer or the Trustee,  as  applicable,  shall
notify each Rating  Agency and the  Subservicer  at such time as it is otherwise
required  pursuant to this Agreement to give notice of the occurrence of, any of
the events described in clause (a), (b), (c), (d), (g), (h), (i) or (j) below or
provide a copy to each Rating  Agency at such time as  otherwise  required to be
delivered  pursuant to this  Agreement  of any of the  statements  described  in
clauses (e) and (f) below:

           (a)    a material change or amendment to this Agreement,

           (b)    the occurrence of an Event of Default,

           (c) the termination or appointment of a successor  Master Servicer or
Trustee or


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      a change in the majority ownership of the Trustee,

           (d) the  filing of any  claim  under the  Master  Servicer's  blanket
      fidelity bond and the errors and omissions  insurance  policy  required by
      Section 3.12 or the  cancellation  or  modification  of coverage under any
      such instrument,

           (e) the  statement  required to be  delivered  to the Holders of each
      Class of Certificates pursuant to Section 4.03,

           (f) the statements required to be delivered pursuant to Sections 3.18
and 3.19,

           (g) a  change  in  the  location  of  the  Custodial  Account  or the
Certificate Account,

           (h) the  occurrence of any monthly cash flow shortfall to the Holders
      of any Class of  Certificates  resulting  from the  failure  by the Master
      Servicer to make an Advance pursuant to Section 4.04,

           (i)    the occurrence of the Final Distribution Date, and

           (j)    the repurchase of or substitution for any Mortgage Loan;

provided,  however,  that with respect to notice of the occurrence of the events
described in clauses (d), (g) or (h) above,  the Master  Servicer  shall provide
prompt  written  notice to each Rating  Agency and the  Subservicer  of any such
event known to the Master Servicer.

     SECTION 11.07.  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 11.08.  Supplemental Provisions for Resecuritization.

      This Agreement may be  supplemented by means of the addition of a separate
Article hereto (a "Supplemental  Article") for the purpose of resecuritizing any
of the Certificates issued hereunder,  under the following  circumstances.  With
respect to any Class or Classes of Certificates issued hereunder, or any portion
of any such  Class,  as to which the  Company or any of its  Affiliates  (or any
designee thereof) is the registered Holder (the  "Resecuritized  Certificates"),
the  Company  may  deposit  such  Resecuritized  Certificates  into a new REMIC,
grantor trust, FASIT or custodial arrangement (a "Restructuring  Vehicle") to be
held by the Trustee pursuant to a Supplemental  Article. The instrument adopting
such Supplemental  Article shall be executed by the Company, the Master Servicer
and the  Trustee;  provided,  that  neither the Master  Servicer nor the Trustee
shall withhold their consent thereto if their respective  interests would not be
materially  adversely  affected  thereby.  To the  extent  that the terms of the
Supplemental  Article do not in any way affect any  provisions of this Agreement
as to any of the Certificates  initially issued  hereunder,  the adoption of the
Supplemental Article shall not constitute an "amendment" of this Agreement.


                         128


<PAGE>





      Each  Supplemental  Article  shall  set  forth  all  necessary  provisions
relating to the holding of the  Resecuritized  Certificates by the Trustee,  the
establishment of the  Restructuring  Vehicle,  the issuing of various classes of
new certificates by the  Restructuring  Vehicle and the distributions to be made
thereon,  and any  other  provisions  necessary  for the  purposes  thereof.  In
connection  with each  Supplemental  Article,  the Company  shall deliver to the
Trustee an Opinion of Counsel to the effect that (i) the  Restructuring  Vehicle
will  qualify as a REMIC,  grantor  trust,  FASIT or other entity not subject to
taxation  for  federal  income  tax  purposes  and  (ii)  the  adoption  of  the
Supplemental  Article  will not endanger the status of the Trust Fund as a REMIC
or  (subject to Section  10.01(f))  result in the  imposition  of a tax upon the
Trust Fund  (including but not limited to the tax on prohibited  transactions as
defined  in Section  860F(a)(2)  of the Code and the tax on  contributions  to a
REMIC as set forth in Section 860G(d) of the Code).


                         129


<PAGE>





      IN WITNESS WHEREOF,  the Company, the Master Servicer 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.

                               RESIDENTIAL FUNDING MORTGAGE
                               SECURITIES I, INC.
[Seal]
                                 By: 
                               Name: Stephen Hynes
                              Title: Vice President

Attest:                             
       Name:   Randy Van Zee
       Title:  Director

                                RESIDENTIAL FUNDING
                                CORPORATION
[Seal]
                                 By: 
                               Name: Randy Van Zee
                              Title: Director

Attest:                             
      Name:    Stephen Hynes
      Title:   Vice President

                                          BANKERS TRUST COMPANY,
                                          as Trustee
[Seal]
                                      By: 
                                      Name:
                                     Title:

Attest:                             
      Name:
      Title:




                         130


<PAGE>






STATE OF MINNESOTA  )
                              ) ss.:
COUNTY OF HENNEPIN  )

            On the 29th day of April, 1999 before me, a notary public in and for
said  State,  personally  appeared  Stephen  Hynes,  known  to me  to be a  Vice
President  of  Residential  Funding  Mortgage  Securities  I,  Inc.,  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.

            IN  WITNESS  WHEREOF,  I have  hereunto  set my hand and  affixed my
official seal the day and year in this certificate first above written.



                                  Notary Public


[Notarial Seal]

STATE OF MINNESOTA  )
                              ) ss.:
COUNTY OF HENNEPIN  )


            On the 29th day of April, 1999 before me, a notary public in and for
said State,  personally  appeared Randy Van Zee, known to me to be a Director of
Residential  Funding  Corporation,  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.

            IN  WITNESS  WHEREOF,  I have  hereunto  set my hand and  affixed my
official seal the day and year in this certificate first above written.



                                  Notary Public


 [Notarial Seal]








<PAGE>





STATE OF CALIFORNIA  )
                              ) ss.:
COUNTY OF ORANGE  )


            On the 29th day of April, 1999 before me, a notary public in and for
said  State,  personally  appeared  ________________,   known  to  me  to  be  a
____________________  of Bankers Trust Company, the New York banking corporation
that executed the within  instrument,  and also known to me to be the person who
executed it on behalf of said New York banking corporation,  and acknowledged to
me that such New York banking corporation executed the within instrument.

            IN  WITNESS  WHEREOF,  I have  hereunto  set my hand and  affixed my
official seal the day and year in this certificate first above written.



                                  Notary Public


[Notarial Seal]






<PAGE>





                                  EXHIBIT A

                         FORM OF CLASS A CERTIFICATE

            SOLELY FOR U.S.  FEDERAL INCOME TAX PURPOSES,  THIS CERTIFICATE IS A
"REGULAR  INTEREST" IN A "REAL  ESTATE  MORTGAGE  INVESTMENT  CONDUIT," AS THOSE
TERMS ARE  DEFINED,  RESPECTIVELY,  IN  SECTIONS  860G AND 860D OF THE  INTERNAL
REVENUE CODE OF 1986.

            [UNLESS   THIS   CERTIFICATE   IS   PRESENTED   BY   AN   AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION  ("DTC"),
TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,  EXCHANGE,  OR PAYMENT, AND
ANY CERTIFICATE  ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN 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.]

            [THE FOLLOWING  INFORMATION  IS PROVIDED  SOLELY FOR THE PURPOSES OF
APPLYING THE U.S.  FEDERAL INCOME TAX ORIGINAL  ISSUE DISCOUNT  ("OID") RULES TO
THIS CERTIFICATE. THE ISSUE DATE OF THIS CERTIFICATE IS APRIL 29, 1999. ASSUMING
THAT THE MORTGAGE  LOANS PREPAY AT 275% OF THE PREPAYMENT  SPEED  ASSUMPTION (AS
DESCRIBED IN THE PROSPECTUS  SUPPLEMENT),  [AND ASSUMING A CONSTANT PASS-THROUGH
RATE EQUAL TO THE INITIAL  PASS-THROUGH  RATE,] THIS CERTIFICATE HAS BEEN ISSUED
WITH NO MORE THAN $_____ OF OID PER [$1,000] [$100,000] OF [INITIAL  CERTIFICATE
PRINCIPAL  BALANCE]  [NOTIONAL  AMOUNT],  THE YIELD TO  MATURITY IS ___% AND THE
AMOUNT  OF OID  ATTRIBUTABLE  TO THE  INITIAL  ACCRUAL  PERIOD  IS NO MORE  THAN
$_______ PER [$1,000]  [$100,000]  OF [INITIAL  CERTIFICATE  PRINCIPAL  BALANCE]
[NOTIONAL AMOUNT],  COMPUTED USING THE APPROXIMATE  METHOD. NO REPRESENTATION IS
MADE THAT THE MORTGAGE LOANS WILL PREPAY AT A RATE BASED ON THE PREPAYMENT SPEED
ASSUMPTION  OR AT ANY  OTHER  RATE OR AS TO THE  CONSTANCY  OF THE  PASS-THROUGH
RATE.]


                        A-1


<PAGE>






Certificate No. ____              [___]% [Variable]Pass-Through Rate [based on a
                                     Notional Amount]
Class A-__ Senior                    Percentage Interest: [___]%

Date of Pooling and Servicing
Agreement and Cut-off Date:
April 1, 1999

                     Aggregate [Initial Certificate Principal Balance] [Notional
                                     Amount] of the Class A-_____ Certificates:
                                     $-------------
First Distribution Date:
May 25, 1999

Master Servicer:                     [Initial] [Certificate Principal
Residential Funding         Balance] [Class A-V] [Subclass] [Notional Amount] of
Corporation                          this
                                     Certificate: $_____________

Assumed Final                        CUSIP:  _________-_____
Distribution Date:
April 25, 2029


                      MORTGAGE PASS-THROUGH CERTIFICATE

                                Series 1999-S9


      evidencing a  percentage  interest in the  distributions  allocable to the
      Class A-__ Certificates with respect to a Trust Fund consisting  primarily
      of a pool of  conventional  one- to four-family  fixed interest rate first
      mortgage loans formed and sold by RESIDENTIAL  FUNDING MORTGAGE SECURITIES
      I, INC.

      This  Certificate is payable solely from the assets of the Trust Fund, and
does not represent an obligation of or interest in Residential  Funding Mortgage
Securities I, Inc., the Master  Servicer,  the Trustee referred to below or GMAC
Mortgage Group,  Inc. or any of their  affiliates.  Neither this Certificate nor
the  underlying  Mortgage  Loans are  guaranteed or insured by any  governmental
agency or instrumentality or by Residential Funding Mortgage Securities I, Inc.,
the Master  Servicer,  the Trustee or GMAC Mortgage Group,  Inc. or any of their
affiliates.  None of the Company, the Master Servicer, GMAC Mortgage Group, Inc.
or any of  their  affiliates  will  have  any  obligation  with  respect  to any
certificate  or other  obligation  secured by or payable  from  payments  on the
Certificates.

      This certifies that [Cede & Co.] is the registered owner of the Percentage
Interest  evidenced  by this  Certificate  [(obtained  by dividing  the [Initial
Certificate  Principal  Balance]  [Initial  Class A-V  Notional  Amount] of this
Certificate by the aggregate [Initial Certificate Principal Balance of all Class
A-___  Certificates]  [Initial  Class  A-V  Notional  Amounts  of all  Class A-V
Certificates], both


                        A-2


<PAGE>





as  specified  above)] in certain  distributions  with respect to the Trust Fund
consisting  primarily  of  an  interest  in  a  pool  of  conventional  one-  to
four-family  fixed interest rate first  mortgage  loans (the "Mortgage  Loans"),
formed and sold by Residential Funding Mortgage Securities I, Inc.  (hereinafter
called the  "Company,"  which  term  includes  any  successor  entity  under the
Agreement  referred to below).  The Trust Fund was created pursuant to a Pooling
and Servicing  Agreement  dated as specified above (the  "Agreement")  among the
Company,  the Master  Servicer  and  Bankers  Trust  Company,  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 Agreement.  This Certificate is issued
under and is subject to the terms,  provisions  and conditions of the Agreement,
to which  Agreement the Holder of this  Certificate  by virtue of the acceptance
hereof assents and by which such Holder is bound.

      Pursuant to the terms of the Agreement, a distribution will be made 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 as described in
the Agreement, 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"), from the Available
Distribution Amount in an amount equal to the product of the Percentage Interest
evidenced by this  Certificate  and the amount [(of interest and  principal,  if
any)]  required to be distributed  to Holders of Class A-  Certificates  on such
Distribution  Date. [The Class A-6 Notional Amount of the Class A-6 Certificates
as of any  Distribution  Date is equal to the  aggregate  Certificate  Principal
Balance of the Class A-4 Certificates  immediately prior to such date divided by
27.] [The Class A-V Notional Amount of the Class A-V Certificates as of any date
of  determination  is equal to the  aggregate  Stated  Principal  Balance of the
Mortgage  Loans  corresponding  to the  Uncertificated  REMIC Regular  Interests
represented by such Class A-V  Certificates.]  [The Class A-V Subclass  Notional
Amount of the Class  A-V-[ ]  Certificates  as of any date of  determination  is
equal  to  the  aggregate  Stated  Principal   Balance  of  the  Mortgage  Loans
corresponding to the Uncertificated REMIC Regular Interests  represented by such
Class  A-V-[ ]  Certificates  immediately  prior to such  date.]  [The Class A-6
Certificates  have  no  Certificate  Principal  Balance.]  [The  Class  A-V[-  ]
Certificates have no Certificate Principal Balance.]

      Distributions  on  this  Certificate  will be made  either  by the  Master
Servicer  acting on behalf of the Trustee or by a Paying Agent  appointed by the
Trustee in immediately  available  funds (by wire transfer or otherwise) for the
account of the Person entitled thereto if such Person shall have so notified the
Master  Servicer or such Paying Agent,  or by 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 of the  pendency  of such  distribution  and only upon
presentation and surrender of this Certificate at the office or agency appointed
by the Trustee for that purpose in the City and State of New York. [The [Initial
Certificate  Principal  Balance]  [Initial Class A-V Notional  Amount]  [Initial
Class A-V Subclass  Notional  Amount] of this  Certificate  is set forth above.]
[The  Certificate  Principal  Balance  hereof  will be  reduced to the extent of
distributions allocable to principal and any Realized Losses allocable hereto.]

     This Certificate is one of a duly authorized  issue of Certificates  issued
in several Classes


                        A-3


<PAGE>





designated as Mortgage Pass-Through  Certificates of the Series specified hereon
(herein collectively called the "Certificates").

      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  Agreement.  In the event Master  Servicer  funds are advanced
with respect to any Mortgage Loan,  such advance is  reimbursable  to the Master
Servicer,  to the extent provided in the Agreement,  from related  recoveries on
such  Mortgage  Loan or from other cash that  would have been  distributable  to
Certificateholders.

      As provided  in the  Agreement,  withdrawals  from the  Custodial  Account
and/or the Certificate Account created for the benefit of Certificateholders may
be made by the  Master  Servicer  from  time to time  for  purposes  other  than
distributions to Certificateholders,  such purposes including without limitation
reimbursement  to the Company  and the Master  Servicer  of  advances  made,  or
certain expenses incurred, by either of them.

      The Agreement  permits,  with certain  exceptions  therein  provided,  the
amendment of the Agreement and the modification of the rights and obligations of
the  Company,  the  Master  Servicer  and  the  Trustee  and the  rights  of the
Certificateholders  under the  Agreement at any time by the Company,  the Master
Servicer  and the  Trustee  with the  consent  of the  Holders  of  Certificates
evidencing  in the aggregate  not less than 66% of the  Percentage  Interests of
each Class of Certificates  affected thereby.  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 the  Certificate.  The  Agreement  also permits the
amendment thereof in certain circumstances without the consent of the Holders of
any of the Certificates and, in certain  additional  circumstances,  without the
consent of the Holders of certain Classes of Certificates.

      As provided in the  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 or agencies  appointed 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 and the
Certificate  Registrar  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 Class and aggregate Percentage
Interest will be issued to the designated transferee or transferees.

      The  Certificates  are issuable  only as registered  Certificates  without
coupons in Classes and in denominations  specified in the Agreement. As provided
in  the  Agreement  and  subject  to  certain  limitations  therein  set  forth,
Certificates are  exchangeable for new Certificates of authorized  denominations
evidencing the same Class and aggregate Percentage Interest, as requested by the
Holder surrendering the same.

      No service  charge will be made for any such  registration  of transfer or
exchange,  but the Trustee may require  payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

     The Company, the Master Servicer, the Trustee and the Certificate Registrar
and any agent


                        A-4


<PAGE>





of the Company,  the Master Servicer,  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 Master  Servicer,  the
Trustee nor any such agent shall be affected by notice to the contrary.

      This Certificate shall be governed by and construed in accordance with the
laws of the State of New York.

      The  obligations  created by the Agreement in respect of the  Certificates
and the  Trust  Fund  created  thereby  shall  terminate  upon  the  payment  to
Certificateholders  of all  amounts  held by or on  behalf  of the  Trustee  and
required to be paid to them pursuant to the  Agreement  following the earlier of
(i) the maturity or other  liquidation of the last Mortgage Loan subject thereto
or the disposition of all property  acquired upon foreclosure or deed in lieu of
foreclosure of any Mortgage Loan and (ii) the purchase by the Master Servicer or
the Company from the Trust Fund of all remaining Mortgage Loans and all property
acquired in respect of such Mortgage Loans,  thereby  effecting early retirement
of the Certificates.  The Agreement  permits,  but does not require,  the Master
Servicer or the Company to (i) purchase at a price determined as provided in the
Agreement all remaining  Mortgage Loans and all property  acquired in respect of
any  Mortgage  Loan or (ii)  purchase  in  whole,  but not in  part,  all of the
Certificates from the Holders thereof;  provided,  that any such option may only
be exercised if the Pool Stated  Principal  Balance of the Mortgage  Loans as of
the  Distribution  Date  upon  which  the  proceeds  of any  such  purchase  are
distributed  is less than ten percent of the Cut-off Date  Principal  Balance of
the Mortgage Loans.

      Reference is hereby made to the further provisions of this Certificate set
forth on the reverse  hereof,  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 the
Certificate  Registrar,  by  manual  signature,  this  Certificate  shall not be
entitled to any benefit under the Agreement or be valid for any purpose.


                        A-5


<PAGE>





            IN WITNESS  WHEREOF,  the Trustee has caused this  Certificate to be
duly executed.

Dated:
                                    BANKERS TRUST COMPANY,
                                    as Trustee


                                      By: 
                              Authorized Signatory



                        CERTIFICATE OF AUTHENTICATION

            This  is one of  the  Class  A-__  Certificates  referred  to in the
within-mentioned Agreement.

                                    BANKERS TRUST COMPANY,
                                    as Certificate Registrar


                                      By: 
                              Authorized Signatory


                        A-6


<PAGE>





                                  ASSIGNMENT

            FOR VALUE RECEIVED,  the undersigned  hereby sell(s),  assign(s) and
transfer(s)
unto__________________________________________________________________________
______ (Please print or typewrite name and address  including postal zip code of
assignee) a Percentage  Interest  evidenced by the within Mortgage  Pass-Through
Certificate and hereby  authorizes the transfer of registration of such interest
to assignee on the Certificate Register of the Trust Fund.

            I (We)  further  direct  the  Certificate  Registrar  to issue a new
Certificate of a like  denomination  and Class,  to the above named assignee and
deliver         such         Certificate         to        the         following
address:_______________________________________________________________________


Dated:                                                                     
                      Signature by or on behalf of assignor



                              Signature Guaranteed


                          DISTRIBUTION INSTRUCTIONS

            The  assignee   should   include  the   following  for  purposes  of
distribution:

            Distributions  shall be made,  by wire  transfer  or  otherwise,  in
immediately                  available                  funds                 to
_______________________________________________________________________
____________________________________________for       the       account       of
______________________   account   number,   or,  if   mailed   by   check,   to
____________________      Applicable     statements     should     be     mailed
to______________________________________
 .
            This information is provided by ______________________________,  the
assignee named above, or ______________________________________________,  as its
agent.




                        A-7


<PAGE>






                                  EXHIBIT B

                         FORM OF CLASS M CERTIFICATE

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE SENIOR
CERTIFICATES [CLASS M-1 CERTIFICATES] [AND CLASS M-2 CERTIFICATES] AS
DESCRIBED IN THE AGREEMENT (AS DEFINED BELOW).

SOLELY FOR U.S.  FEDERAL  INCOME TAX PURPOSES,  THIS  CERTIFICATE  IS A "REGULAR
INTEREST" IN A "REAL  ESTATE  MORTGAGE  INVESTMENT  CONDUIT," AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF
1986 (THE "CODE").

UNLESS THIS  CERTIFICATE  IS PRESENTED BY AN  AUTHORIZED  REPRESENTATIVE  OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER,  EXCHANGE,  OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN 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.

THE FOLLOWING  INFORMATION  IS PROVIDED  SOLELY FOR THE PURPOSES OF APPLYING THE
U.S.   FEDERAL  INCOME  TAX  ORIGINAL  ISSUE  DISCOUNT  ("OID")  RULES  TO  THIS
CERTIFICATE. THE ISSUE DATE OF THIS CERTIFICATE IS APRIL 29, 1999. ASSUMING THAT
THE  MORTGAGE  LOANS  PREPAY  AT 275% OF THE  PREPAYMENT  SPEED  ASSUMPTION  (AS
DESCRIBED IN THE PROSPECTUS  SUPPLEMENT),  THIS CERTIFICATE HAS BEEN ISSUED WITH
NO  MORE  THAN  $_________________OF  OID  PER  $1,000  OF  INITIAL  CERTIFICATE
PRINCIPAL BALANCE, THE YIELD TO MATURITY IS % AND THE AMOUNT OF OID ATTRIBUTABLE
TO THE INITIAL ACCRUAL PERIOD IS NO MORE THAN  $_________________  PER $1,000 OF
INITIAL CERTIFICATE PRINCIPAL BALANCE, COMPUTED UNDER THE APPROXIMATE METHOD. NO
REPRESENTATION  IS MADE THAT THE  MORTGAGE  LOANS WILL PREPAY AT A RATE BASED ON
THE PREPAYMENT SPEED ASSUMPTION OR AT ANY OTHER RATE.

NO  TRANSFER  OF THIS CLASS M  CERTIFICATE  WILL BE MADE  UNLESS THE TRUSTEE HAS
RECEIVED  EITHER  (A) AN  OPINION  OF  COUNSEL  ACCEPTABLE  TO AND IN  FORM  AND
SUBSTANCE  SATISFACTORY TO THE TRUSTEE, THE COMPANY AND THE MASTER SERVICER WITH
RESPECT TO THE  PERMISSIBILITY  OF SUCH TRANSFER  UNDER THE EMPLOYEE  RETIREMENT
INCOME  SECURITY ACT OF 1974, AS AMENDED  ("ERISA") AND SECTION 4975 OF THE CODE
AND STATING,  AMONG OTHER  THINGS,  THAT THE  TRANSFEREE'S  ACQUISITION  OF THIS
CERTIFICATE WILL NOT CONSTITUTE OR RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION
UNDER  SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR (B) A  REPRESENTATION
LETTER, IN THE FORM



                        B-1



<PAGE>






DESCRIBED  IN THE  AGREEMENT,  EITHER  STATING  THAT  THE  TRANSFEREE  IS NOT AN
EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED  TRANSACTION PROVISIONS
OF ERISA OR SECTION 4975 OF THE CODE (A "PLAN"),  OR ANY OTHER PERSON (INCLUDING
AN  INVESTMENT  MANAGER,  A NAMED  FIDUCIARY  OR A TRUSTEE OF ANY PLAN)  ACTING,
DIRECTLY OR INDIRECTLY,  ON BEHALF OF OR PURCHASING ANY  CERTIFICATE  WITH "PLAN
ASSETS" OF ANY PLAN (A "PLAN  INVESTOR"),  OR STATING THAT (I) THE TRANSFEREE IS
AN INSURANCE COMPANY,  (II) THE SOURCE OF FUNDS TO BE USED BY IT TO PURCHASE THE
CERTIFICATE IS AN "INSURANCE  COMPANY  GENERAL  ACCOUNT"  (WITHIN THE MEANING OF
DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION ("PTCE") 95- 60), AND
(III) THE  CONDITIONS  SET FORTH IN  SECTIONS  I AND III OF PTCE 95-60 HAVE BEEN
SATISFIED  (EACH ENTITY THAT SATISFIES  THIS CLAUSE (B), A "COMPLYING  INSURANCE
COMPANY").

NOTWITHSTANDING THE ABOVE, WITH RESPECT TO THE TRANSFER OF THIS CERTIFICATE TO A
DEPOSITORY OR ANY SUBSEQUENT TRANSFER OF ANY INTEREST IN THIS CERTIFICATE FOR SO
LONG AS THIS  CERTIFICATE  IS HELD BY A  DEPOSITORY,  (I)  NEITHER AN OPINION OF
COUNSEL NOR A CERTIFICATION, EACH AS DESCRIBED IN THE FOREGOING PARAGRAPH, SHALL
BE REQUIRED, AND (II) THE FOLLOWING CONDITIONS SHALL APPLY:

            1.  ANY  TRANSFEREE  OF  THIS  CERTIFICATE  WILL BE  DEEMED  TO HAVE
      REPRESENTED BY VIRTUE OF ITS PURCHASE OR HOLDING OF THIS  CERTIFICATE  (OR
      INTEREST HEREIN) THAT EITHER (A) SUCH TRANSFEREE IS NOT A PLAN INVESTOR OR
      (B) SUCH TRANSFEREE IS A COMPLYING INSURANCE COMPANY; AND

            2. IF THIS  CERTIFICATE (OR ANY INTEREST HEREIN) IS ACQUIRED OR HELD
      IN VIOLATION OF THE PROVISIONS OF THE PRECEDING  PARAGRAPH,  THEN THE LAST
      PRECEDING  TRANSFEREE  THAT EITHER (I) IS NOT A PLAN INVESTOR OR (II) IS A
      COMPLYING INSURANCE COMPANY SHALL BE RESTORED,  TO THE EXTENT PERMITTED BY
      LAW,  TO  ALL  RIGHTS  AND   OBLIGATIONS  AS  CERTIFICATE   OWNER  THEREOF
      RETROACTIVE TO THE DATE OF SUCH TRANSFER OF THIS CERTIFICATE.  THE TRUSTEE
      SHALL BE UNDER NO  LIABILITY  TO ANY PERSON FOR MAKING ANY PAYMENTS DUE ON
      THIS CERTIFICATE TO SUCH PRECEDING TRANSFEREE.

ANY PURPORTED CERTIFICATE OWNER WHOSE ACQUISITION OR HOLDING OF THIS CERTIFICATE
(OR INTEREST  HEREIN) WAS EFFECTED IN VIOLATION OF THE  RESTRICTIONS  IN SECTION
5.02(E) OF THE POOLING AND SERVICING AGREEMENT SHALL INDEMNIFY AND HOLD HARMLESS
THE COMPANY,  THE TRUSTEE, THE MASTER SERVICER,  ANY SUBSERVICER,  AND THE TRUST
FUND  FROM AND  AGAINST  ANY AND ALL  LIABILITIES,  CLAIMS,  COSTS  OR  EXPENSES
INCURRED BY SUCH PARTIES AS A RESULT OF SUCH ACQUISITION OR HOLDING.



                        B-2



<PAGE>







Certificate No. ___                       6.75% Pass-Through Rate

Class M-_______ Subordinate              Aggregate Certificate Principal Balance
                                         of the Class M Certificates:
                                          $---------------

Date of Pooling and Servicing             Initial Certificate Principal
Agreement and Cut-off Date:               Balance of this Certificate:
April 1, 1999                             $_______________

First Distribution Date:                  CUSIP: _________-_____
May 25, 1999

Master Servicer:
Residential Funding Corporation

Assumed Final Distribution Date:
April 25, 2029

                      MORTGAGE PASS-THROUGH CERTIFICATE,
                                Series 1999-S9


      evidencing a  percentage  interest in any  distributions  allocable to the
      Class  M-[__]  Certificates  with respect to REMIC I. REMIC I is part of a
      Trust  Fund  consisting  primarily  of a  pool  of  conventional  one-  to
      four-family  fixed  interest rate first  mortgage loans formed and sold by
      RESIDENTIAL FUNDING MORTGAGE SECURITIES, INC.

            This  Certificate  is  payable  solely  from the assets of the Trust
Fund, and does not represent an obligation of or interest in Residential Funding
Mortgage Securities I, Inc., the Master Servicer,  the Trustee referred to below
or  GMAC  Mortgage  Group,  Inc.  or  any  of  their  affiliates.  Neither  this
Certificate  nor the underlying  Mortgage Loans are guaranteed or insured by any
governmental  agency  or  instrumentality  or by  Residential  Funding  Mortgage
Securities I, Inc.,  the Master  Servicer,  the Trustee or GMAC Mortgage  Group,
Inc. or any of their affiliates.  None of the Company, the Master Servicer, GMAC
Mortgage  Group,  Inc. or any of their  affiliates will have any obligation with
respect to any  certificate  or other  obligation  secured  by or  payable  from
payments on the Certificates.

            This  certifies  that  is the  registered  owner  of the  Percentage
Interest  evidenced  by this  Certificate  (obtained  by  dividing  the  Initial
Certificate  Principal  Balance of this  Certificate  by the  aggregate  Initial
Certificate  Principal  Balance  of  all  Class  M-[__]  Certificates,  both  as
specified  above) in certain  distributions  with respect to REMIC I. REMIC I is
part of a Trust Fund  consisting  primarily  of a pool of  conventional  one- to
four-family  fixed interest rate first  mortgage  loans (the "Mortgage  Loans"),
formed and sold by Residential Funding Mortgage  Securities,  Inc.  (hereinafter
called the  "Company,"  which  term  includes  any  successor  entity  under the
Agreement  referred to below).  The Trust Fund and REMIC I were created pursuant
to a Pooling



                        B-3



<PAGE>






and Servicing  Agreement  dated as specified above (the  "Agreement")  among the
Company,  the Master  Servicer  and  Bankers  Trust  Company,  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 Agreement.  This Certificate is issued
under and is subject to the terms,  provisions  and conditions of the Agreement,
to which  Agreement the Holder of this  Certificate  by virtue of the acceptance
hereof assents and by which such Holder is bound.

            Pursuant to the terms of the Agreement,  a distribution will be made
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 as
described  in the  Agreement,  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"),
from the Available  Distribution Amount in an amount equal to the product of the
Percentage  Interest  evidenced by this  Certificate and the amount (of interest
and  principal,  if any)  required  to be  distributed  to Holders of Class M-__
Certificates on such Distribution Date.

            Distributions  on this Certificate will be made either by the Master
Servicer  acting on behalf of the Trustee or by a Paying Agent  appointed by the
Trustee in immediately  available  funds (by wire transfer or otherwise) for the
account of the Person entitled thereto if such Person shall have so notified the
Master  Servicer or such Paying Agent,  or by 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 of the pendency of such  distribution
and only upon  presentation  and surrender of this  Certificate at the office or
agency  appointed  by the Trustee for that  purpose in the City and State of New
York. The Initial Certificate Principal Balance of this Certificate is set forth
above. The Certificate Principal Balance hereof will be reduced to the extent of
the  distributions  allocable to principal  and any  Realized  Losses  allocable
hereto.

            As described  above, no transfer of this Class M Certificate will be
made  unless  (i) the  Trustee  has  received  either an opinion of counsel or a
representation  letter,  each as  described  in the  Agreement,  relating to the
permissibility  of such  transfer  under ERISA and Section 4975 of the Code,  or
(ii) this Certificate is held by a Depository, in which case the Transferee will
be deemed to have made  representations  relating to the  permissibility of such
transfer  under  ERISA and Section  4975 of the Code,  as  described  in Section
5.02(e) of the Agreement.  In addition,  any purported  Certificate  Owner whose
acquisition or holding of this  Certificate (or interest herein) was effected in
violation  of  the  restrictions  in  Section  5.02(e)  of the  Agreement  shall
indemnify and hold harmless the Company, the Trustee,  the Master Servicer,  any
Subservicer,  and the  Trust  Fund  from and  against  any and all  liabilities,
claims,  costs  or  expenses  incurred  by  such  parties  as a  result  of such
acquisition or holding.

            This  Certificate is one of a duly authorized  issue of Certificates
issued in several Classes  designated as Mortgage  Pass-Through  Certificates of
the Series specified hereon (herein collectively called the "Certificates").

     The Certificates are limited in right of payment to certain collections and
recoveries



                        B-4



<PAGE>






respecting the Mortgage Loans, all as more  specifically set forth herein and in
the Agreement.  In the event Master  Servicer funds are advanced with respect to
any Mortgage Loan, such advance is reimbursable to the Master  Servicer,  to the
extent provided in the Agreement,  from related recoveries on such Mortgage Loan
or from other cash that would have been distributable to Certificateholders.

            As provided in the Agreement, withdrawals from the Custodial Account
and/or the Certificate Account created for the benefit of Certificateholders may
be made by the  Master  Servicer  from  time to time  for  purposes  other  than
distributions to Certificateholders,  such purposes including without limitation
reimbursement  to the Company  and the Master  Servicer  of  advances  made,  or
certain expenses incurred, by either of them.

            The Agreement permits, with certain exceptions therein provided, the
amendment of the Agreement and the modification of the rights and obligations of
the  Company,  the  Master  Servicer  and  the  Trustee  and the  rights  of the
Certificateholders  under the  Agreement at any time by the Company,  the Master
Servicer  and the  Trustee  with the  consent  of the  Holders  of  Certificates
evidencing  in the aggregate  not less than 66% of the  Percentage  Interests of
each Class of Certificates  affected thereby.  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 the  Certificate.  The  Agreement  also permits the
amendment thereof in certain circumstances without the consent of the Holders of
any of the Certificates and, in certain  additional  circumstances,  without the
consent of the Holders of certain Classes of Certificates.

            As provided  in the  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 or  agencies  appointed  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 and the Certificate Registrar 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 Class and aggregate
Percentage Interest will be issued to the designated transferee or transferees.

            The  Certificates  are  issuable  only  as  registered  Certificates
without coupons in Classes and in denominations  specified in the Agreement.  As
provided in the Agreement and subject to certain  limitations therein set forth,
Certificates are  exchangeable for new Certificates of authorized  denominations
evidencing the same Class and aggregate Percentage Interest, as requested by the
Holder surrendering the same.

            No service charge will be made for any such registration of transfer
or exchange,  but the Trustee may require  payment of a sum  sufficient to cover
any tax or other governmental charge payable in connection therewith.

            The Company,  the Master  Servicer,  the Trustee and the Certificate
Registrar and any agent of the Company, the Master Servicer,  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
Master  Servicer,  the Trustee nor any such agent shall be affected by notice to
the contrary.



                        B-5



<PAGE>






            This  Certificate  shall be governed by and  construed in accordance
with the laws of the State of New York.

            The  obligations   created  by  the  Agreement  in  respect  of  the
Certificates and the Trust Fund created thereby shall terminate upon the payment
to  Certificateholders  of all  amounts  held by or on behalf of the Trustee and
required to be paid to them pursuant to the  Agreement  following the earlier of
(i) the maturity or other  liquidation of the last Mortgage Loan subject thereto
or the disposition of all property  acquired upon foreclosure or deed in lieu of
foreclosure of any Mortgage Loan and (ii) the purchase by the Master Servicer or
the Company from the Trust Fund of all remaining Mortgage Loans and all property
acquired in respect of such Mortgage Loans,  thereby  effecting early retirement
of the Certificates.  The Agreement  permits,  but does not require,  the Master
Servicer or the Company to (i) purchase at a price determined as provided in the
Agreement all remaining  Mortgage Loans and all property  acquired in respect of
any  Mortgage  Loan or (ii)  purchase  in  whole,  but not in  part,  all of the
Certificates from the Holders thereof;  provided,  that any such option may only
be exercised if the Pool Stated  Principal  Balance of the Mortgage  Loans as of
the  Distribution  Date  upon  which  the  proceeds  of any  such  purchase  are
distributed  is less than ten percent of the Cut-off Date  Principal  Balance of
the Mortgage Loans.

            Unless the certificate of authentication hereon has been executed by
the Certificate  Registrar,  by manual signature,  this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.



                        B-6



<PAGE>






            IN WITNESS  WHEREOF,  the Trustee has caused this  Certificate to be
duly executed.

Dated:
                                    BANKERS TRUST COMPANY,
                                     as Trustee


                                      By: 
                              Authorized Signatory


                        CERTIFICATE OF AUTHENTICATION

            This  is one of  the  Class  M-__  Certificates  referred  to in the
within-mentioned Agreement.


                                    BANKERS TRUST COMPANY,
                                     as Certificate Registrar


                                      By: 
                              Authorized Signatory



                        B-7



<PAGE>






                                  ASSIGNMENT

            FOR VALUE RECEIVED,  the undersigned  hereby sell(s),  assign(s) and
transfer(s)
unto__________________________________________________________________________
______________________________________  (Please  print  or  typewrite  name  and
address including postal zip code of assignee) a Percentage  Interest  evidenced
by the  within  Mortgage  Pass-Through  Certificate  and hereby  authorizes  the
transfer  of  registration  of such  interest  to  assignee  on the  Certificate
Register of the Trust Fund.

            I (We)  further  direct  the  Certificate  Registrar  to issue a new
Certificate of a like  denomination  and Class,  to the above named assignee and
deliver         such         Certificate         to        the         following
address:_______________________________________________________________________



Dated:

                                           Signature by or on behalf of assignor



                                                   Signature Guaranteed



                          DISTRIBUTION INSTRUCTIONS

            The  assignee   should   include  the   following  for  purposes  of
distribution:

            Distributions  shall be made,  by wire  transfer  or  otherwise,  in
immediately                  available                  funds                 to
_________________________________________________________________for the account
of   ________________________________________________________   account   number
_______________________        or,        if        mailed       by       check,
to________________________________  ____________  statements should be mailed to
_____________________________________.

            This               information              is              provided
by__________________________________________
________________________________________________,  the assignee named above,  or
___________________________________________, as its agent.





                        B-8



<PAGE>






                                  EXHIBIT C

                         FORM OF CLASS B CERTIFICATE

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE SENIOR  CERTIFICATES
AND CLASS M CERTIFICATES  [AND CLASS B-1] [CLASS B-2  CERTIFICATES] AS DESCRIBED
IN THE AGREEMENT (AS DEFINED HEREIN).

THIS  CERTIFICATE  HAS NOT BEEN AND WILL NOT BE REGISTERED  UNDER THE SECURITIES
ACT OF 1933,  AS  AMENDED,  OR THE  SECURITIES  LAWS OF ANY STATE AND MAY NOT BE
RESOLD OR TRANSFERRED  UNLESS IT IS REGISTERED  PURSUANT TO SUCH ACT AND LAWS OR
IS SOLD OR TRANSFERRED IN TRANSACTIONS  WHICH ARE EXEMPT FROM REGISTRATION UNDER
SUCH ACT AND UNDER  APPLICABLE  STATE LAW AND IS TRANSFERRED IN ACCORDANCE  WITH
THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT.

NO TRANSFER OF THIS CERTIFICATE MAY BE MADE TO ANY PERSON, UNLESS THE TRANSFEREE
PROVIDES EITHER A CERTIFICATION  PURSUANT TO SECTION 5.02(e) OF THE AGREEMENT OR
AN OPINION OF COUNSEL  SATISFACTORY TO THE MASTER SERVICER,  THE COMPANY AND THE
TRUSTEE THAT THE PURCHASE OF THIS CERTIFICATE 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 MASTER  SERVICER,  THE  COMPANY OR THE TRUSTEE TO ANY
OBLIGATION OR LIABILITY IN ADDITION TO THOSE UNDERTAKEN IN THE AGREEMENT.

SOLELY FOR U.S.  FEDERAL  INCOME TAX PURPOSES,  THIS  CERTIFICATE  IS A "REGULAR
INTEREST" IN A "REAL  ESTATE  MORTGAGE  INVESTMENT  CONDUIT," AS THOSE TERMS ARE
DEFINED,  RESPECTIVELY,  IN SECTIONS  860G AND 860D OF THE CODE.  THE  FOLLOWING
INFORMATION  IS PROVIDED  SOLELY FOR THE PURPOSES OF APPLYING  THE U.S.  FEDERAL
INCOME TAX ORIGINAL ISSUE DISCOUNT ("OID") RULES TO THIS CERTIFICATE.  THE ISSUE
DATE OF THIS  CERTIFICATE  IS APRIL 29, 1999.  ASSUMING THAT THE MORTGAGE  LOANS
PREPAY  AT  275%  OF  THE  PREPAYMENT  SPEED  ASSUMPTION  (AS  DESCRIBED  IN THE
PROSPECTUS SUPPLEMENT),  THIS CERTIFICATE HAS BEEN ISSUED WITH NO MORE THAN $___
OF OID PER  $1,000  OF  INITIAL  CERTIFICATE  PRINCIPAL  BALANCE,  THE  YIELD TO
MATURITY  IS ____% AND THE AMOUNT OF OID  ATTRIBUTABLE  TO THE  INITIAL  ACCRUAL
PERIOD  IS NO MORE THAN  $____  PER  $1,000  OF  INITIAL  CERTIFICATE  PRINCIPAL
BALANCE,  COMPUTED UNDER THE APPROXIMATE  METHOD. NO REPRESENTATION IS MADE THAT
THE  MORTGAGE  LOANS  WILL  PREPAY  AT A  RATE  BASED  ON THE  PREPAYMENT  SPEED
ASSUMPTION OR AT ANY OTHER RATE.



                        C-1



<PAGE>







Certificate No. __                           6.75% Pass-Through Rate

Class B-__ Subordinate                       Aggregate Certificate
                                             Principal Balance
                                             of the Class B-__
                                             Certificates as of
                                             $---------------

Date of Pooling and Servicing Agreement and  Initial Certificate Principal
Cut-off Date:                                Balance of this Certificate:
April 1, 1999                                $_______________

First Distribution Date:
May 25, 1999

Master Servicer:
Residential Funding Corporation

Assumed Final Distribution Date:

                      MORTGAGE PASS-THROUGH CERTIFICATE,
                                Series 1999-S9

      evidencing a  percentage  interest in any  distributions  allocable to the
      Class  B-__  Certificates  with  respect  to  the  Trust  Fund  consisting
      primarily of a pool of  conventional  one- to  four-family  fixed interest
      rate first mortgage loans formed and sold by RESIDENTIAL  FUNDING MORTGAGE
      SECURITIES I, INC.

            This  Certificate  is  payable  solely  from the assets of the Trust
Fund, and does not represent an obligation of or interest in Residential Funding
Mortgage Securities I, Inc., the Master Servicer,  the Trustee referred to below
or  GMAC  Mortgage  Group,  Inc.  or  any  of  their  affiliates.  Neither  this
Certificate  nor the underlying  Mortgage Loans are guaranteed or insured by any
governmental  agency  or  instrumentality  or by  Residential  Funding  Mortgage
Securities I, Inc.,  the Master  Servicer,  the Trustee or GMAC Mortgage  Group,
Inc. or any of their affiliates.  None of the Company, the Master Servicer, GMAC
Mortgage  Group,  Inc. or any of their  affiliates will have any obligation with
respect to any  certificate  or other  obligation  secured  by or  payable  from
payments on the Certificates.

            This certifies that Residential  Funding Mortgage Securities I, Inc.
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the Certificate  Principal  Balance of this Certificate by
the aggregate Certificate Principal Balance of all Class B-__ Certificates, both
as  specified  above) in  certain  distributions  with  respect  to a Trust Fund
consisting  primarily  of a pool  of  conventional  one-  to  four-family  fixed
interest rate first mortgage loans (the  "Mortgage  Loans"),  formed and sold by
Residential  Funding  Mortgage  Securities  I,  Inc.   (hereinafter  called  the
"Company," which term includes any successor entity under the Agreement referred
to below).  The Trust  Fund was  created  pursuant  to a Pooling  and  Servicing
Agreement  dated as specified  above (the  "Agreement")  among the Company,  the
Master Servicer and Bankers Trust



                        C-2



<PAGE>






Company,  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 Agreement.
This  Certificate  is issued under and is subject to the terms,  provisions  and
conditions of the Agreement,  to which Agreement the Holder of this  Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

            Pursuant to the terms of the Agreement,  a distribution will be made
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 next  preceding  the month of such  distribution  (the "Record
Date"), from the Available Distribution Amount in an amount equal to the product
of the  Percentage  Interest  evidenced by this  Certificate  and the amount (of
interest and principal, if any) required to be distributed to Holders of Class B
Certificates on such Distribution Date.

            Distributions  on this Certificate will be made either by the Master
Servicer  acting on behalf of the Trustee or by a Paying Agent  appointed by the
Trustee in immediately  available  funds (by wire transfer or otherwise) for the
account of the Person entitled thereto if such Person shall have so notified the
Master  Servicer or such Paying Agent,  or by 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 of the pendency of such  distribution
and only upon  presentation  and surrender of this  Certificate at the office or
agency  appointed  by the Trustee for that  purpose in the City and State of New
York. The Initial Certificate Principal Balance of this Certificate is set forth
above. The Certificate Principal Balance hereof will be reduced to the extent of
the  distributions  allocable to principal  and any  Realized  Losses  allocable
hereto.

            No  transfer  of this Class B  Certificate  will be made unless such
transfer is exempt from the  registration  requirements of the Securities Act of
1933,  as  amended,  and  any  applicable  state  securities  laws or is made in
accordance  with said Act and laws.  In the event that such a transfer  is to be
made,  (i) the  Trustee  or the  Company  may  require  an  opinion  of  counsel
acceptable  to and in form and  substance  satisfactory  to the  Trustee and the
Company that such transfer is exempt  (describing  the applicable  exemption and
the  basis  therefor)  from  or is  being  made  pursuant  to  the  registration
requirements  of the Securities  Act of 1933, as amended,  and of any applicable
statute of any state and (ii) the transferee shall execute an investment  letter
in the form  described by the  Agreement.  The Holder hereof  desiring to effect
such  transfer  shall,  and does hereby agree to,  indemnify  the  Trustee,  the
Company,  the Master Servicer and the Certificate  Registrar acting on behalf of
the Trustee  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.  In
connection  with any such transfer,  the Trustee will also require either (i) an
opinion of counsel  acceptable to and in form and substance  satisfactory to the
Trustee,  the Company and the Master Servicer with respect to the permissibility
of such transfer under the Employee  Retirement  Income Security Act of 1974, as
amended ("ERISA") and Section 4975 of the Internal Revenue Code (the "Code") and
stating,  among other things,  that the  transferee's  acquisition  of a Class B
Certificate will not constitute or result in a non-exempt prohibited transaction
under Section 406 of ERISA or Section 4975 of the Code or (ii) a



                        C-3



<PAGE>






representation letter, in the form as described by the Agreement, either stating
that the  transferee  is not an  employee  benefit or other plan  subject to the
prohibited  transaction  provisions  of  ERISA  or  Section  4975 of the Code (a
"Plan"), or any other person (including an investment manager, a named fiduciary
or a trustee  of any  Plan)  acting,  directly  or  indirectly,  on behalf of or
purchasing any  Certificate  with "plan assets" of any Plan, or stating that the
transferee  is an  insurance  company,  the  source of funds to be used by it to
purchase the 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.

            This  Certificate is one of a duly authorized  issue of Certificates
issued in several Classes  designated as Mortgage  Pass-Through  Certificates of
the Series specified hereon (herein collectively called the "Certificates").

            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 Agreement. In the event Master Servicer
funds  are  advanced  with  respect  to  any  Mortgage  Loan,  such  advance  is
reimbursable  to the Master  Servicer,  to the extent provided in the Agreement,
from related recoveries on such Mortgage Loan or from other cash that would have
been distributable to Certificateholders.

            As provided in the Agreement, withdrawals from the Custodial Account
and/or the Certificate Account created for the benefit of Certificateholders may
be made by the  Master  Servicer  from  time to time  for  purposes  other  than
distributions to Certificateholders,  such purposes including without limitation
reimbursement  to the Company  and the Master  Servicer  of  advances  made,  or
certain expenses incurred, by either of them.

            The Agreement permits, with certain exceptions therein provided, the
amendment of the Agreement and the modification of the rights and obligations of
the  Company,  the  Master  Servicer  and  the  Trustee  and the  rights  of the
Certificateholders  under the  Agreement at any time by the Company,  the Master
Servicer  and the  Trustee  with the  consent  of the  Holders  of  Certificates
evidencing  in the aggregate  not less than 66% of the  Percentage  Interests of
each Class of Certificates  affected thereby.  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 the  Certificate.  The  Agreement  also permits the
amendment thereof in certain circumstances without the consent of the Holders of
any of the Certificates and, in certain  additional  circumstances,  without the
consent of the Holders of certain Classes of Certificates.

            As provided  in the  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 or  agencies  appointed  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 and the Certificate Registrar 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 Class and aggregate
Percentage Interest will be issued to the designated transferee or transferees.



                        C-4



<PAGE>






            The  Certificates  are  issuable  only  as  registered  Certificates
without coupons in Classes and in denominations  specified in the Agreement.  As
provided in the Agreement and subject to certain  limitations therein set forth,
Certificates are  exchangeable for new Certificates of authorized  denominations
evidencing the same Class and aggregate Percentage Interest, as requested by the
Holder surrendering the same.

            No service charge will be made for any such registration of transfer
or exchange,  but the Trustee may require  payment of a sum  sufficient to cover
any tax or other governmental charge payable in connection therewith.

            The Company,  the Master  Servicer,  the Trustee and the Certificate
Registrar and any agent of the Company, the Master Servicer,  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
Master  Servicer,  the Trustee nor any such agent shall be affected by notice to
the contrary.

            This  Certificate  shall be governed by and  construed in accordance
with the laws of the State of New York.

            The  obligations   created  by  the  Agreement  in  respect  of  the
Certificates and the Trust Fund created thereby shall terminate upon the payment
to  Certificateholders  of all  amounts  held by or on behalf of the Trustee and
required to be paid to them pursuant to the  Agreement  following the earlier of
(i) the maturity or other  liquidation of the last Mortgage Loan subject thereto
or the disposition of all property  acquired upon foreclosure or deed in lieu of
foreclosure of any Mortgage Loan and (ii) the purchase by the Master Servicer or
the Company from the Trust Fund of all remaining Mortgage Loans and all property
acquired in respect of such Mortgage Loans,  thereby  effecting early retirement
of the Certificates.  The Agreement  permits,  but does not require,  the Master
Servicer or the Company to (i) purchase at a price determined as provided in the
Agreement all remaining  Mortgage Loans and all property  acquired in respect of
any  Mortgage  Loan or (ii)  purchase  in  whole,  but not in  part,  all of the
Certificates from the Holders thereof;  provided,  that any such option may only
be exercised if the Pool Stated  Principal  Balance of the Mortgage  Loans as of
the  Distribution  Date  upon  which  the  proceeds  of any  such  purchase  are
distributed  is less than ten percent of the Cut-off Date  Principal  Balance of
the Mortgage Loans.

            Unless the certificate of authentication hereon has been executed by
the Certificate  Registrar,  by manual signature,  this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.



                        C-5



<PAGE>






            IN WITNESS  WHEREOF,  the Trustee has caused this  Certificate to be
duly executed.

Dated:
                                    BANKERS TRUST COMPANY,
                                     as Trustee


                                      By: 
                              Authorized Signatory


                        CERTIFICATE OF AUTHENTICATION

            This  is one of  the  Class  B-__  Certificates  referred  to in the
within-mentioned Agreement.

                                    BANKERS TRUST COMPANY,
                                     as Certificate Registrar


                                      By: 
                              Authorized Signatory



                        C-6



<PAGE>






                                  ASSIGNMENT

            FOR VALUE RECEIVED,  the undersigned  hereby sell(s),  assign(s) and
transfer(s)
unto__________________________________________________________________________
__________________________________(Please  print or  typewrite  name and address
including  postal zip code of assignee) a Percentage  Interest  evidenced by the
within Mortgage  Pass-Through  Certificate and hereby authorizes the transfer of
registration  of such  interest to assignee on the  Certificate  Register of the
Trust Fund.

            I (We)  further  direct  the  Certificate  Registrar  to issue a new
Certificate of a like  denomination  and Class,  to the above named assignee and
deliver         such         Certificate         to        the         following
address:_______________________________________________________________________


Dated:

                                  Signature by or on behalf of assignor



                              Signature Guaranteed


                          DISTRIBUTION INSTRUCTIONS

            The  assignee   should   include  the   following  for  purposes  of
distribution:

            Distributions  shall be made,  by wire  transfer  or  otherwise,  in
immediately                  available                  funds                 to
_______________________________________________________________________
______________________________________________________________  the  account  of
____________________________________________number  ____________________________
or,  if mailed  by  check,  to______________________________________  statements
should                                 be                                 mailed
to________________________________________________________________________

            This information is provided by _______________________________, the
assignee                    named                   above,                    or
_______________________________________________________, as its agent.





                        C-7



<PAGE>






                                  EXHIBIT D

                         FORM OF CLASS R CERTIFICATE

THIS CERTIFICATE MAY NOT BE HELD BY OR TRANSFERRED TO A NON-UNITED STATES PERSON
OR A DISQUALIFIED ORGANIZATION (AS DEFINED BELOW).

SOLELY FOR U.S.  FEDERAL  INCOME TAX PURPOSES,  THIS  CERTIFICATE IS A "RESIDUAL
INTEREST"  IN A "REAL  ESTATE  MORTGAGE  INVESTMENT  CONDUIT" AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF
1986 (THE "CODE").

NO TRANSFER OF THIS CERTIFICATE MAY BE MADE TO ANY PERSON, UNLESS THE TRANSFEREE
PROVIDES EITHER A CERTIFICATION  PURSUANT TO SECTION 5.02(e) OF THE AGREEMENT OR
AN OPINION OF COUNSEL  SATISFACTORY TO THE MASTER SERVICER,  THE COMPANY AND THE
TRUSTEE THAT THE PURCHASE OF THIS CERTIFICATE 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 MASTER  SERVICER,  THE  COMPANY OR THE TRUSTEE TO ANY
OBLIGATION OR LIABILITY IN ADDITION TO THOSE UNDERTAKEN IN THE AGREEMENT.

ANY RESALE,  TRANSFER OR OTHER  DISPOSITION OF THIS CERTIFICATE MAY BE MADE ONLY
IF THE PROPOSED  TRANSFEREE PROVIDES A TRANSFER AFFIDAVIT TO THE MASTER SERVICER
AND THE TRUSTEE THAT (1) SUCH TRANSFEREE IS NOT (A) THE UNITED STATES, ANY STATE
OR POLITICAL  SUBDIVISION  THEREOF,  ANY POSSESSION OF THE UNITED STATES, OR ANY
AGENCY OR INSTRUMENTALITY OF ANY OF THE FOREGOING (OTHER THAN AN INSTRUMENTALITY
WHICH IS A CORPORATION  IF ALL OF ITS  ACTIVITIES  ARE SUBJECT TO TAX AND EXCEPT
FOR THE FHLMC,  A MAJORITY  OF ITS BOARD OF  DIRECTORS  IS NOT  SELECTED BY SUCH
GOVERNMENTAL UNIT), (B) A FOREIGN GOVERNMENT, ANY INTERNATIONAL ORGANIZATION, OR
ANY AGENCY OR INSTRUMENTALITY  OF EITHER OF THE FOREGOING,  (C) ANY ORGANIZATION
(OTHER THAN CERTAIN FARMERS' COOPERATIVES  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 (INCLUDING
THE TAX  IMPOSED  BY  SECTION  511 OF THE  CODE ON  UNRELATED  BUSINESS  TAXABLE
INCOME),  (D) RURAL  ELECTRIC AND  TELEPHONE  COOPERATIVES  DESCRIBED IN SECTION
1381(a)(2)(C)  OF THE CODE,  (E) AN ELECTING  LARGE  PARTNERSHIP  UNDER  SECTION
775(a) OF THE CODE (ANY SUCH PERSON DESCRIBED IN THE FOREGOING CLAUSES (A), (B),
(C), (D) OR (E) BEING HEREIN REFERRED TO AS A "DISQUALIFIED  ORGANIZATION"),  OR
(F) AN AGENT OF A DISQUALIFIED ORGANIZATION,  (2) NO PURPOSE OF SUCH TRANSFER IS
TO IMPEDE THE ASSESSMENT OR COLLECTION OF TAX AND (3) SUCH TRANSFEREE  SATISFIES
CERTAIN  ADDITIONAL  CONDITIONS  RELATING  TO  THE  FINANCIAL  CONDITION  OF THE
PROPOSED  TRANSFEREE.   NOTWITHSTANDING  THE  REGISTRATION  IN  THE  CERTIFICATE
REGISTER OR ANY



                        D-1



<PAGE>






TRANSFER,  SALE OR  OTHER  DISPOSITION  OF THIS  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
THIS  CERTIFICATE  BY  ACCEPTANCE  OF THIS  CERTIFICATE  SHALL BE DEEMED TO HAVE
CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH.



                        D-2



<PAGE>







Certificate No. ___                            6.75% Pass-Through Rate

Class R Senior Certificate                     Aggregate Initial
                                               Principal Balance of the class R
                                               Certificates:
                                                 $100.00

Date of Pooling and Servicing                  Initial Certificate Principal
Agreement and Cut-off Date:                    Balance of this Certificate:
April 1, 1999                                  $____________

First Distribution Date:                       Percentage Interest:
May 25, 1999                                   ____________%

Master Servicer:                               CUSIP  ____________ - ___________
Residential Funding Corporation

Assumed Final Distribution Date:
April 25, 2029

                      MORTGAGE PASS-THROUGH CERTIFICATE,
                                Series 1999-S9

      evidencing a  percentage  interest in any  distributions  allocable to the
      Class R Certificates  with respect to the Trust Fund consisting  primarily
      of a pool of  conventional  one- to four-family  fixed interest rate first
      mortgage loans formed and sold by RESIDENTIAL  FUNDING MORTGAGE SECURITIES
      I, INC.

            This  Certificate  is  payable  solely  from the assets of the Trust
Fund, and does not represent an obligation of or interest in Residential Funding
Mortgage Securities I, Inc., the Master Servicer,  the Trustee referred to below
or  GMAC  Mortgage  Group,  Inc.  or  any  of  their  affiliates.  Neither  this
Certificate  nor the underlying  Mortgage Loans are guaranteed or insured by any
governmental  agency  or  instrumentality  or by  Residential  Funding  Mortgage
Securities I, Inc.,  the Master  Servicer,  the Trustee or GMAC Mortgage  Group,
Inc. or any of their affiliates.  None of the Company, the Master Servicer, GMAC
Mortgage  Group,  Inc. or any of their  affiliates will have any obligation with
respect to any  certificate  or other  obligation  secured  by or  payable  from
payments on the Certificates.

            This  certifies  that  _________________________  is the  registered
owner of the  Percentage  Interest  evidenced by this  Certificate  (obtained by
dividing the Initial  Certificate  Principal  Balance of this Certificate by the
aggregate  Initial  Certificate  Principal  Balance of all Class R Certificates,
both as specified above) in certain distributions with respect to the Trust Fund
consisting  primarily  of a pool  of  conventional  one-  to  four-family  fixed
interest rate first mortgage loans (the  "Mortgage  Loans"),  formed and sold by
Residential  Funding  Mortgage  Securities  I,  Inc.   (hereinafter  called  the
"Company," which term includes any successor entity under the Agreement referred
to below).  The Trust  Fund was  created  pursuant  to a Pooling  and  Servicing
Agreement



                        D-3



<PAGE>






dated as  specified  above  (the  "Agreement")  among the  Company,  the  Master
Servicer and Bankers Trust  Company,  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  Agreement.  This  Certificate is issued under and is subject to
the terms,  provisions and conditions of the Agreement,  to which  Agreement the
Holder of this  Certificate  by virtue of the  acceptance  hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement,  a distribution will be made
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 as
described  in the  Agreement,  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"),
from the Available  Distribution Amount in an amount equal to the product of the
Percentage  Interest  evidenced by this  Certificate and the amount (of interest
and  principal,  if any)  required  to be  distributed  to  Holders  of  Class R
Certificates on such Distribution Date.

            Each Holder of this  Certificate will be deemed to have agreed to be
bound by the restrictions set forth in the Agreement to the effect that (i) each
person holding or acquiring any Ownership Interest in this Certificate must be a
United  States  Person and a  Permitted  Transferee,  (ii) the  transfer  of any
Ownership  Interest in this Certificate will be conditioned upon the delivery to
the Trustee of,  among other  things,  an  affidavit  to the effect that it is a
United States Person and Permitted Transferee,  (iii) any attempted or purported
transfer of any  Ownership  Interest in this  Certificate  in  violation of such
restrictions  will be  absolutely  null and void and will  vest no rights in the
purported  transferee,  and (iv) if any person other than a United States Person
and a Permitted  Transferee  acquires any Ownership Interest in this Certificate
in violation of such restrictions,  then the Company will have the right, in its
sole  discretion and without notice to the Holder of this  Certificate,  to sell
this Certificate to a purchaser selected by the Company,  which purchaser may be
the Company,  or any affiliate of the Company,  on such terms and  conditions as
the Company may choose.

            Notwithstanding   the  above,   the  final   distribution   on  this
Certificate  will be made after due notice of the pendency of such  distribution
and only upon  presentation  and surrender of this  Certificate at the office or
agency  appointed  by the Trustee for that  purpose in the City and State of New
York. The Initial Certificate Principal Balance of this Certificate is set forth
above. The Certificate Principal Balance hereof will be reduced to the extent of
distributions  allocable to principal and any Realized Losses allocable  hereto.
Notwithstanding  the reduction of the  Certificate  Principal  Balance hereof to
zero,  this  Certificate  will remain  outstanding  under the  Agreement and the
Holder hereof may have additional  obligations with respect to this Certificate,
including  tax   liabilities,   and  may  be  entitled  to  certain   additional
distributions  hereon,  in  accordance  with the  terms  and  provisions  of the
Agreement.

            No  transfer  of this Class R  Certificate  will be made  unless the
Trustee has received either (i) an opinion of counsel  acceptable to and in form
and substance  satisfactory to the Trustee,  the Company and the Master Servicer
with  respect  to  the  permissibility  of  such  transfer  under  the  Employee
Retirement Income Security Act of 1974, as amended ("ERISA") and Section 4975 of
the Internal Revenue Code (the "Code") and stating, among other things, that the
transferee's acquisition



                        D-4



<PAGE>






of a  Class  R  Certificate  will  not  constitute  or  result  in a  non-exempt
prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or
(ii) a representation letter, in the form as described by the Agreement, stating
that the  transferee  is not an  employee  benefit or other plan  subject to the
prohibited  transaction  provisions  of  ERISA  or  Section  4975 of the Code (a
"Plan"), or any other person (including an investment manager, a named fiduciary
or a trustee  of any  Plan)  acting,  directly  or  indirectly,  on behalf of or
purchasing any Certificate with "plan assets" of any Plan.

            This  Certificate is one of a duly authorized  issue of Certificates
issued in several Classes  designated as Mortgage  Pass-Through  Certificates of
the Series specified hereon (herein collectively called the "Certificates").

            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 Agreement. In the event Master Servicer
funds  are  advanced  with  respect  to  any  Mortgage  Loan,  such  advance  is
reimbursable  to the Master  Servicer,  to the extent provided in the Agreement,
from related recoveries on such Mortgage Loan or from other cash that would have
been distributable to Certificateholders.

            As provided in the Agreement, withdrawals from the Custodial Account
and/or the Certificate Account created for the benefit of Certificateholders may
be made by the  Master  Servicer  from  time to time  for  purposes  other  than
distributions to Certificateholders,  such purposes including without limitation
reimbursement  to the Company  and the Master  Servicer  of  advances  made,  or
certain expenses incurred, by either of them.

            The Agreement permits, with certain exceptions therein provided, the
amendment of the Agreement and the modification of the rights and obligations of
the  Company,  the  Master  Servicer  and  the  Trustee  and the  rights  of the
Certificateholders  under the  Agreement at any time by the Company,  the Master
Servicer  and the  Trustee  with the  consent  of the  Holders  of  Certificates
evidencing  in the aggregate  not less than 66% of the  Percentage  Interests of
each Class of Certificates  affected thereby.  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 the  Certificate.  The  Agreement  also permits the
amendment thereof in certain circumstances without the consent of the Holders of
any of the Certificates and, in certain  additional  circumstances,  without the
consent of the Holders of certain Classes of Certificates.

            As provided  in the  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 or  agencies  appointed  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 and the Certificate Registrar 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 Class and aggregate
Percentage Interest will be issued to the designated transferee or transferees.

            The  Certificates  are  issuable  only  as  registered  Certificates
without coupons in Classes and in denominations  specified in the Agreement.  As
provided in the Agreement and subject



                        D-5



<PAGE>






to certain limitations therein set forth,  Certificates are exchangeable for new
Certificates of authorized denominations evidencing the same Class and aggregate
Percentage Interest, as requested by the Holder surrendering the same.

            No service charge will be made for any such registration of transfer
or exchange,  but the Trustee may require  payment of a sum  sufficient to cover
any tax or other governmental charge payable in connection therewith.

            The Company,  the Master  Servicer,  the Trustee and the Certificate
Registrar and any agent of the Company, the Master Servicer,  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
Master  Servicer,  the Trustee nor any such agent shall be affected by notice to
the contrary.

            This  Certificate  shall be governed by and  construed in accordance
with the laws of the State of New York.

            The  obligations   created  by  the  Agreement  in  respect  of  the
Certificates and the Trust Fund created thereby shall terminate upon the payment
to  Certificateholders  of all  amounts  held by or on behalf of the Trustee and
required to be paid to them pursuant to the  Agreement  following the earlier of
(i) the maturity or other  liquidation of the last Mortgage Loan subject thereto
or the disposition of all property  acquired upon foreclosure or deed in lieu of
foreclosure of any Mortgage Loan and (ii) the purchase by the Master Servicer or
the Company from the Trust Fund of all remaining Mortgage Loans and all property
acquired in respect of such Mortgage Loans,  thereby  effecting early retirement
of the Certificates.  The Agreement  permits,  but does not require,  the Master
Servicer or the Company to (i) purchase at a price determined as provided in the
Agreement all remaining  Mortgage Loans and all property  acquired in respect of
any  Mortgage  Loan or (ii)  purchase  in  whole,  but not in  part,  all of the
Certificates from the Holders thereof;  provided,  that any such option may only
be exercised if the Pool Stated  Principal  Balance of the Mortgage  Loans as of
the  Distribution  Date  upon  which  the  proceeds  of any  such  purchase  are
distributed  is less than ten percent of the Cut-off Date  Principal  Balance of
the Mortgage Loans.

            Reference  is  hereby  made  to  the  further   provisions  of  this
Certificate set forth on the reverse hereof,  which further provisions shall for
all purpose have the same effect as if set forth at this place.

            Unless the certificate of authentication hereon has been executed by
the Certificate  Registrar,  by manual signature,  this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.



                        D-6



<PAGE>






            IN WITNESS  WHEREOF,  the Trustee has caused this  Certificate to be
duly executed.

Dated:
                                    BANKERS TRUST COMPANY
                                     as Trustee


                                      By: 
                              Authorized Signatory


                        CERTIFICATE OF AUTHENTICATION

            This  is  one  of  the  Class  R  Certificates  referred  to in  the
within-mentioned Agreement.

                                    BANKERS TRUST COMPANY,
                                     as Certificate Registrar


                                      By: 
                              Authorized Signatory



                        D-7



<PAGE>






                                  ASSIGNMENT

            FOR VALUE RECEIVED,  the undersigned  hereby sell(s),  assign(s) and
transfer(s)
unto______________________________________________________________________Please
print or  typewrite  name and address  including  postal zip code of assignee) a
Percentage  Interest evidenced by the within Mortgage  Pass-Through  Certificate
and hereby  authorizes the transfer of registration of such interest to assignee
on the Certificate Register of the Trust Fund.

            I (We)  further  direct  the  Certificate  Registrar  to issue a new
Certificate of a like  denomination  and Class,  to the above named assignee and
deliver         such         Certificate         to        the         following
address:_______________________________________________________________________



Dated:

                                           Signature by or on behalf of assignor




                              Signature Guaranteed



                          DISTRIBUTION INSTRUCTIONS

            The  assignee   should   include  the   following  for  purposes  of
distribution:

            Distributions shall be made, by wire transfer or otherwise, in 
immediately available funds to _________________________________________ the
account of___________________________________________________________________
number _____________________, or, if mailed by check,
to______________________________________ statements should be mailed to_______.

            This  information  is provided by  ________________________________,
the              assignee              named              above,              or
____________________________________________________, as its agent.





                        D-8



<PAGE>






                                  EXHIBIT E

                             CUSTODIAL AGREEMENT

            THIS CUSTODIAL  AGREEMENT (as amended and supplemented  from time to
time,  the  "Agreement"),  dated as of April 1, 1999, by and among BANKERS TRUST
COMPANY,  as Trustee  (including  its  successors  under the  Pooling  Agreement
defined below, the "Trustee"),  RESIDENTIAL  FUNDING MORTGAGE SECURITIES I, INC.
(together with any successor in interest,  the "Company"),  RESIDENTIAL  FUNDING
CORPORATION,  as master  servicer  (together  with any  successor in interest or
successor under the Pooling Agreement referred to below, the "Master Servicer"),
and NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION (together with any successor in
interest or any successor appointed hereunder, the "Custodian").

                        W I T N E S S E T H T H A T :

            WHEREAS,  the  Company,  the Master  Servicer,  and the Trustee have
entered  into a  Pooling  and  Servicing  Agreement  dated as of April 1,  1999,
relating to the issuance of  Residential  Funding  Mortgage  Securities I, Inc.,
Mortgage Pass-Through Certificates,  Series 1999-S9 (as in effect on the date of
this  agreement,   the  "Original   Pooling   Agreement,"  and  as  amended  and
supplemented from time to time, the "Pooling Agreement"); and

            WHEREAS,  the  Custodian  has agreed to act as agent for the Trustee
for  the  purposes  of  receiving  and  holding  certain   documents  and  other
instruments  delivered by the Company and the Master  Servicer under the Pooling
Agreement,  all upon the terms and  conditions  and  subject to the  limitations
hereinafter set forth;

            NOW,  THEREFORE,  in  consideration  of the  premises and the mutual
covenants and agreements  hereinafter set forth, the Trustee,  the Company,  the
Master Servicer and the Custodian hereby agree as follows:

ARTICLE 1

                                 Definitions

            Capitalized  terms used in this  Agreement  and not  defined  herein
shall have the  meanings  assigned in the  Original  Pooling  Agreement,  unless
otherwise required by the context herein.

ARTICLE 2

                        Custody of Mortgage Documents

     SECTION 2.01 Custodian to Act as Agent;  Acceptance of Mortgage Files.  The
Custodian,  as the duly  appointed  agent of the  Trustee  for  these  purposes,
acknowledges  receipt of the  Mortgage  Files  relating  to the  Mortgage  Loans
identified on the schedule  attached hereto (the "Mortgage  Files") and declares
that it holds and will hold the  Mortgage  Files as agent  for the  Trustee,  in
trust, for the use and benefit of all present and future Certificateholders.



                        E-1



<PAGE>






     SECTION 2.02 Recordation of Assignments.  If any Mortgage File includes one
or more assignments to the Trustee of Mortgage Notes and related  Mortgages that
have not been recorded, each such assignment shall be delivered by the Custodian
to the Company for the purpose of recording it in the appropriate  public office
for real  property  records,  and the Company,  at no expense to the  Custodian,
shall  promptly cause to be recorded in the  appropriate  public office for real
property records each such assignment and, upon receipt thereof from such public
office, shall return each such assignment to the Custodian.

     SECTION 2.03 Review of Mortgage Files.

               (a) On or prior to the Closing Date, the Custodian  shall deliver
to the Trustee an Initial  Certification  in the form annexed  hereto as Exhibit
One  evidencing  receipt of a Mortgage File for each Mortgage Loan listed on the
Schedule attached hereto (the "Mortgage Loan Schedule").

               (b) Within 45 days of the initial  issuance of the  Certificates,
the  Custodian  agrees,  for the benefit of  Certificateholders,  to review,  in
accordance  with the provisions of Section 2.02 of the Pooling  Agreement,  each
Mortgage File, and shall deliver to the Trustee an Interim  Certification in the
form annexed hereto as Exhibit Two to the effect that all documents  required to
be  delivered  pursuant to Section  2.01(b) of the Pooling  Agreement  have been
executed  and  received and that such  documents  relate to the  Mortgage  Loans
identified on the Mortgage Loan Schedule,  except for any  exceptions  listed on
Schedule  A  attached  to such  Interim  Certification.  In the  event  that any
Mortgage Note or  Assignment of Mortgage has been  delivered to the Custodian by
the Company in blank,  the Custodian,  upon the direction of the Company,  shall
cause  each such  Mortgage  Note to be  endorsed  to the  Trustee  and each such
Assignment  of Mortgage to be completed in the name of the Trustee  prior to the
date on which such Interim Certification is delivered to the Trustee.  Within 45
days of receipt of the  documents  required to be delivered  pursuant to Section
2.01(c) of the  Pooling  Agreement,  the  Custodian  agrees,  for the benefit of
Certificateholders, to review, in accordance with the provisions of Section 2.02
of the Pooling Agreement,  each such document,  and shall deliver to the Trustee
either (i) an Interim  Certification  in the form attached hereto as Exhibit Two
to the effect that all such documents relate to the Mortgage Loans identified on
the  Mortgage  Loan  Schedule,  except for any  exceptions  listed on Schedule A
attached to such  Interim  Certification  or (ii) a Final  Certification  as set
forth  in  subsection  (c)  below.  The  Custodian  shall  be  under  no duty or
obligation  to  inspect,   review  or  examine  said   documents,   instruments,
certificates   or  other  papers  to  determine   that  the  same  are  genuine,
enforceable,  or  appropriate  for the  represented  purpose  or that  they have
actually  been  recorded  or that they are other than what they  purport to e on
their  face.  If in  performing  the review  required by this  Section  2.03 the
Custodian finds any document or documents constituting a part of a Mortgage File
to be defective in any material respect,  the Custodian shall promptly so notify
the  Company,  the Master  Servicer  and the  Trustee.  Upon  receipt of written
notification from the Master Servicer,  signed by a Servicing Officer,  that the
Master  Servicer or a  Subservicer,  as the case may be, has made a deposit into
the Certificate Account in payment for the purchase of the related Mortgage Loan
in an amount equal to the Purchase  Price for such Mortgage  Loan, the Custodian
shall release to the Master Servicer the related Mortgage File.

               (c) Upon receipt of all documents  required to be in the Mortgage
Files the Custodian  shall deliver to the Trustee a Final  Certification  in the
form annexed hereto as Exhibit Three evidencing the completeness of the Mortgage
Files.



                        E-2



<PAGE>






      Upon receipt of written  request from the Trustee,  the Custodian shall as
soon as  practicable  supply  the  Trustee  with a list of all of the  documents
relating to the Mortgage Loans then contained in the Mortgage Files.

     SECTION 2.04  Notification of Breaches of  Representations  and Warranties.
Upon  discovery by the Custodian of a breach of any  representation  or warranty
made by the Master Servicer or the Company as set forth in the Pooling Agreement
or by a Seller in a Seller's Agreement or by Residential  Funding or the Company
in the  Assignment  Agreement  with  respect to a Mortgage  Loan  relating  to a
Mortgage  File,  the Custodian  shall give prompt written notice to the Company,
the Master Servicer and the Trustee.

     SECTION 2.05 Custodian to Cooperate;  Release of Mortgage  Files.  Upon the
repurchase  or  substitution  of any Mortgage Loan pursuant to Article II of the
Pooling Agreement or payment in full of any Mortgage Loan, or the receipt by the
Master  Servicer of a  notification  that  payment in full will be escrowed in a
manner customary for such purposes, the Master Servicer shall immediately notify
the Custodian by a certification  (which certification shall include a statement
to the effect that all amounts  received  or to be received in  connection  with
such  payment  which are  required  to be  deposited  in the  Custodial  Account
pursuant  to  Section  3.07 of the  Pooling  Agreement  have  been or will be so
deposited)  of a  Servicing  Officer  and shall  request  delivery  to it of the
Mortgage  File. The Custodian  agrees,  upon receipt of such  certification  and
request,  promptly to release to the Master Servicer the related  Mortgage File.
The Master  Servicer shall deliver to the Custodian and the Custodian  agrees to
accept the Mortgage Note and other documents constituting the Mortgage File with
respect to any Qualified Substitute Mortgage Loan.

             From  time  to  time  as  is  appropriate   for  the  servicing  or
foreclosures of any Mortgage Loan, including, for this purpose, collection under
any Primary Insurance Policy or any Mortgage Pool Insurance  Policy,  the Master
Servicer  shall deliver to the Custodian a  certificate  of a Servicing  Officer
requesting  that  possession  of the  Mortgage  File be  released  to the Master
Servicer and  certifying as to the reason for such release and that such release
will not invalidate any insurance  coverage  provided in respect of the Mortgage
Loan under any of the Required Insurance  Policies.  With such certificate,  the
Master  Servicer  shall  deliver to the  Custodian a trust  receipt  signed by a
Servicing  Officer on behalf of the  Master  Servicer,  and upon  receipt of the
foregoing, the Custodian shall deliver the Mortgage File to the Master Servicer.
The Master Servicer shall cause each Mortgage File so released to be returned to
the Custodian  when the need therefor by the Master  Servicer no longer  exists,
unless (i) the Mortgage Loan has been  liquidated and the  Liquidation  Proceeds
relating to the Mortgage Loan have been  deposited in the  Custodial  Account or
(ii)  the  Mortgage  File or any  document  therein  has  been  delivered  to an
attorney,  or to a public  trustee or other public  official as required by law,
for purposes of initiating or pursuing legal action or other proceedings for the
foreclosure of the Mortgaged Property either judicially or  non-judicially,  and
the Master  Servicer has delivered to the Custodian a certificate of a Servicing
Officer  certifying  as to the name and  address  of the  Person  to which  such
Mortgage File or such document was delivered and the purpose or purposes of such
delivery.  In the event of the  liquidation  of a Mortgage  Loan,  the Custodian
shall deliver the Trust Receipt with respect thereto to the Master Servicer upon
deposit of the related Liquidation Proceeds in the Custodial Account as provided
in the Pooling Agreement.  In addition, upon the request of the Master Servicer,
the Custodian will send to the Master Servicer copies of any documents contained
in the Mortgage File so requested.



                        E-3



<PAGE>






     SECTION  2.06  Assumption  Agreements.  In the  event  that any  assumption
agreement or substitution of liability agreement is entered into with respect to
any Mortgage  Loan subject to this  Agreement in  accordance  with the terms and
provisions  of the  Pooling  Agreement,  the Master  Servicer  shall  notify the
Custodian that such assumption or  substitution  agreement has been completed by
forwarding  to the Custodian  the original of such  assumption  or  substitution
agreement,  which  shall be added to the  related  Mortgage  File  and,  for all
purposes, shall be considered a part of such Mortgage File to the same extent as
all other documents and instruments constituting parts thereof.

ARTICLE 3

                           Concerning the Custodian

     SECTION 3.01  Custodian a Bailee and Agent of the Trustee.  With respect to
each Mortgage Note, Mortgage and other documents constituting each Mortgage File
which are delivered to the Custodian,  the Custodian is  exclusively  the bailee
and agent of the Trustee and has no  instructions  to hold any Mortgage  Note or
Mortgage  for the  benefit of any  person  other  than the  Trustee,  holds such
documents for the benefit of  Certificateholders  and undertakes to perform such
duties and only such  duties as are  specifically  set forth in this  Agreement.
Except upon compliance with the provisions of Section 2.05 of this Agreement, no
Mortgage Note, Mortgage or other document constituting a part of a Mortgage File
shall be  delivered by the  Custodian  to the Company or the Master  Servicer or
otherwise released from the possession of the Custodian.

     SECTION 3.02  Indemnification.  The Company  hereby agrees to indemnify and
hold the Custodian  harmless from and against all claims,  liabilities,  losses,
actions,  suits or proceedings at law or in equity, or any other expenses,  fees
or charges of any  character or nature,  which the  Custodian  may incur or with
which the Custodian may be threatened by reason of its acting as custodian under
this Agreement,  including  indemnification of the Custodian against any and all
expenses,  including  attorney's  fees if  counsel  for the  Custodian  has been
approved  by the  Company,  and  the  cost  of  defending  any  action,  suit or
proceedings  or  resisting  any  claim.  Notwithstanding  the  foregoing,  it is
specifically  understood and agreed that in the event any such claim, liability,
loss, action, suit or proceeding or other expense, fee or charge shall have been
caused by reason of any  negligent  act,  negligent  failure  to act or  willful
misconduct  on the part of the  Custodian,  or which shall  constitute a willful
breach of its duties hereunder, the indemnification provisions of this Agreement
shall not apply.

     SECTION  3.03  Custodian  May  Own  Certificates.   The  Custodian  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 Custodian.

     SECTION 3.04 Master  Servicer to Pay  Custodian's  Fees and  Expenses.  The
Master Servicer  covenants and agrees to pay to the Custodian from time to time,
and the Custodian shall be entitled to, reasonable compensation for all services
rendered by it in the exercise and  performance  of any of the powers and duties
hereunder of the  Custodian,  and the Master  Servicer will pay or reimburse the
Custodian  upon its  request  for all  reasonable  expenses,  disbursements  and
advances  incurred  or made  by the  Custodian  in  accordance  with  any of the
provisions of this  Agreement  (including the  reasonable  compensation  and the
expenses and disbursements of its counsel and of all persons not



                        E-4



<PAGE>






regularly in its employ),  except any such expense,  disbursement  or advance as
may arise from its negligence or bad faith.

     SECTION  3.05  Custodian  May  Resign;  Trustee May Remove  Custodian.  The
Custodian may resign from the  obligations  and duties hereby imposed upon it as
such  obligations  and duties  relate to its acting as Custodian of the Mortgage
Loans. Upon receiving such notice of resignation,  the Trustee shall either take
custody of the  Mortgage  Files  itself and give  prompt  notice  thereof to the
Company, the Master Servicer and the Custodian,  or promptly appoint a successor
Custodian by written  instrument,  in  duplicate,  one copy of which  instrument
shall be  delivered to the  resigning  Custodian  and one copy to the  successor
Custodian. If the Trustee shall not have taken custody of the Mortgage Files and
no  successor   Custodian  shall  have  been  so  appointed  and  have  accepted
appointment  within 30 days after the giving of such notice of resignation,  the
resigning  Custodian  may petition any court of competent  jurisdiction  for the
appointment of a successor Custodian.

            The Trustee may remove the Custodian at any time. In such event, the
Trustee shall appoint, or petition a court of competent jurisdiction to appoint,
a successor Custodian  hereunder.  Any successor Custodian shall be a depository
institution  subject to supervision or examination by federal or state authority
and shall be able to satisfy the other  requirements  contained  in Section 3.07
and shall be unaffiliated with the Master Servicer or the Company.

            Any  resignation  or removal of the Custodian and  appointment  of a
successor Custodian pursuant to any of the provisions of this Section 3.05 shall
become effective upon acceptance of appointment by the successor Custodian.  The
Trustee shall give prompt  notice to the Company and the Master  Servicer of the
appointment  of  any  successor  Custodian.  No  successor  Custodian  shall  be
appointed  by the  Trustee  without  the prior  approval  of the Company and the
Master Servicer.

     SECTION 3.06 Merger or  Consolidation  of Custodian.  Any Person into which
the Custodian  may be merged or converted or with which it may be  consolidated,
or any Person  resulting from any merger,  conversion or  consolidation to which
the Custodian shall be a party, or any Person  succeeding to the business of the
Custodian,  shall be the  successor  of the  Custodian  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  3.07  Representations  of  the  Custodian.  The  Custodian  hereby
represents  that  it is a  depository  institution  subject  to  supervision  or
examination by a federal or state authority,  has a combined capital and surplus
of at least  $10,000,000 and is qualified to do business in the jurisdictions in
which it will hold any Mortgage File.

ARTICLE 4

                           Miscellaneous Provisions

     SECTION 4.01 Notices. All notices, requests, consents and demands and other
communications required under this Agreement or pursuant to any other instrument
or  document  delivered  hereunder  shall be in writing  and,  unless  otherwise
specifically provided, may be delivered personally,  by telegram or telex, or by
registered or certified mail, postage prepaid, return receipt



                        E-5



<PAGE>






requested,  at the  addresses  specified on the  signature  page hereof  (unless
changed by the particular party whose address is stated herein by similar notice
in writing), in which case the notice will be deemed delivered when received.

     SECTION 4.02  Amendments.  No modification or amendment of or supplement to
this  Agreement  shall be valid or  effective  unless the same is in writing and
signed by all parties hereto,  and neither the Company,  the Master Servicer nor
the Trustee  shall enter into any  amendment  hereof  except as permitted by the
Pooling Agreement.  The Trustee shall give prompt notice to the Custodian of any
amendment or supplement to the Pooling  Agreement and furnish the Custodian with
written copies thereof.

     SECTION 4.03 Governing Law. This Agreement  shall be deemed a contract made
under the laws of the State of New York and shall be  construed  and enforced in
accordance with and governed by the laws of the State of New York.

     SECTION  4.04  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 other comparable
jurisdictions in which any or all of the properties subject to the Mortgages are
situated,  and in any other  appropriate  public  recording office or elsewhere,
such  recordation  to be effected by the Master  Servicer  and at its expense on
direction  by the Trustee  (pursuant  to the request of holders of  Certificates
evidencing  undivided  interests  in the  aggregate  of not less than 25% of the
Trust  Fund),  but only upon  direction  accompanied  by an  Opinion  of Counsel
reasonably satisfactory to the Master Servicer to the effect that the failure to
effect  such  recordation  is likely to  materially  and  adversely  affect  the
interests of the Certificateholders.

            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  4.05  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.



                        E-6



<PAGE>






            IN WITNESS WHEREOF,  this Agreement is executed as of the date first
above written.

Address:                            BANKERS TRUST COMPANY,
                                    as Trustee
3 Park Plaza
Irvine, California  92614
Attention:  RFMSI, Series 1999-S9
                                        By: 
                                      Name:
                                     Title:  Vice President

Address:                            RESIDENTIAL FUNDING MORTGAGE
                                    SECURITIES I, INC.
8400 Normandale Lake Boulevard
Minneapolis, Minnesota  55437

                                        By: 
                                      Name:
                                     Title:  Vice President


Address:                            RESIDENTIAL FUNDING
                                    CORPORATION,
                                    as Master Servicer
8400 Normandale Lake Boulevard,
Suite 700
Minneapolis, Minnesota 55437
                                        By: 
                                      Name:
                                     Title:  Director

Address:                            NORWEST BANK MINNESOTA,
                                    NATIONAL ASSOCIATION
401 Second Avenue South
Minneapolis, Minnesota  55479

                                        By: 
                                      Name:
                                     Title: Trust Officer





                        E-7



<PAGE>






STATE OF CALIFORNIA  )
                              ) ss.:
COUNTY OF ORANGE  )

            On the 29th day of April,  1999,  before me, a notary  public in and
for said State, personally appeared _______________________, known to me to be a
Vice President of Bankers Trust Company,  a national  banking  association  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.

            IN  WITNESS  WHEREOF,  I have  hereunto  set my hand and  affixed my
official seal the day and year in this certificate first above written.



                                  Notary Public


[SEAL]

                                    E-9







<PAGE>






STATE OF MINNESOTA )
                        ) ss.:
COUNTY OF HENNEPIN )

            On the 29th day of April,  1999,  before me, a notary  public in and
for said State, personally appeared ________________,  known to me to be a Trust
Officer of Norwest Bank  Minnesota,  National  Association,  a national  banking
association that executed the within instrument,  and also known to me to be the
person who  executed  it on behalf of said  national  banking  association,  and
acknowledged to me that such national  banking  association  executed the within
instrument.

            IN  WITNESS  WHEREOF,  I have  hereunto  set my hand and  affixed my
official seal the day and year in this certificate first above written.


                                  Notary Public


[SEAL]

                                    E-10







<PAGE>






STATE OF MINNESOTA )
                        ) ss.:
COUNTY OF HENNEPIN )

            On the 29th day of April,  1999,  before me, a notary  public in and
for said State, personally appeared  ________________,  known to me to be a Vice
President  of  Residential  Funding  Mortgage  Securities  I,  Inc.,  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.

            IN  WITNESS  WHEREOF,  I have  hereunto  set my hand and  affixed my
official seal the day and year in this certificate first above written.



                                             Notary Public


[Notarial Seal]



STATE OF MINNESOTA   )
                              ) ss:
COUNTY OF HENNEPIN   )

            On the 29th day of April,  1999,  before me, a notary  public in and
for  said  State,  personally  appeared  ________________,  known  to me to be a
Director  of  Residential  Funding  Corporation,  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.

            IN  WITNESS  WHEREOF,  I have  hereunto  set my hand and  affixed my
official seal the day and year in this certificate first above written.




                                  Notary Public


[Notarial Seal]


                                    E-11







<PAGE>





                                 EXHIBIT ONE

                              FORM OF CUSTODIAN
                            INITIAL CERTIFICATION

                                April 29, 1999

Bankers Trust Company
3 Park Plaza
Irvine, California  92614

Attention: Residential Funding Mortgage Securities I, Inc., Series 1999-S9

     Re:  Custodial  Agreement  dated as of April 1, 1999,  by and among Bankers
          Trust  Company,  Residential  Funding  Mortgage  Securities  I,  Inc.,
          Residential Funding  Corporation and Norwest Bank Minnesota,  National
          Association, Mortgage Pass- Through Certificates, Series 1999-S9

Ladies and Gentlemen:

            In  accordance  with  Section 2.3 of the  above-captioned  Custodial
Agreement,   and  subject  to  Section  2.02  of  the  Pooling  Agreement,   the
undersigned, as Custodian, hereby certifies that it has received a Mortgage File
(which  contains an original  Mortgage Note or an original  Lost Note  Affidavit
with a copy of the  related  Mortgage  Note) to the extent  required  in Section
2.01(b) of the Pooling  Agreement  with respect to each  Mortgage Loan listed in
the Mortgage  Loan Schedule  with any  exceptions  listed on Schedule A attached
hereto.

            Capitalized  words and phrases used herein shall have the respective
meanings assigned to them in the above-captioned Custodial Agreement.


                                    NORWEST BANK MINNESOTA, NATIONAL
                                    ASSOCIATION


                                      By: 
                                      Name:
                                      Title:





<PAGE>





                                 EXHIBIT TWO

                   FORM OF CUSTODIAN INTERIM CERTIFICATION

                         ________________ ____, 1999

Bankers Trust Company
3 Park Plaza
Irvine, California  92614

Attention: Residential Funding Mortgage Securities I, Inc., Series 1999-S9

     Re:  Custodial  Agreement  dated as of April 1, 1999,  by and among Bankers
          Trust  Company,  Residential  Funding  Mortgage  Securities  I,  Inc.,
          Residential Funding  Corporation and Norwest Bank Minnesota,  National
          Association, Mortgage Pass- Through Certificates, Series 1999-S9

Ladies and Gentlemen:

            In  accordance  with  Section 2.3 of the  above-captioned  Custodial
Agreement, the undersigned,  as Custodian, hereby certifies that it has received
a  Mortgage  File to the extent  required  pursuant  to  Section  2.01(b) of the
Pooling Agreement with respect to each Mortgage Loan listed in the Mortgage Loan
Schedule,  and it has reviewed the Mortgage  File and the Mortgage Loan Schedule
and has determined that: all required  documents have been executed and received
and that such documents related to the Mortgage Loans identified on the Mortgage
Loan Schedule, with any exceptions listed on Schedule A attached hereto.

            Capitalized  words and phrases used herein shall have the respective
meanings assigned to them in the above-captioned Custodial Agreement.


                                    NORWEST BANK MINNESOTA, NATIONAL
                                    ASSOCIATION


                                      By: 
                                      Name:
                                     Title:





<PAGE>





                                EXHIBIT THREE

                    FORM OF CUSTODIAN FINAL CERTIFICATION

                           _____________ ___, 1999


Bankers Trust Company
3 Park Plaza
Irvine, California  92614

Attention: Residential Funding Mortgage Securities I, Inc., Series 1999-S9

     Re:  Custodial  Agreement  dated as of April 1, 1999,  by and among Bankers
          Trust  Company,  Residential  Funding  Mortgage  Securities  I,  Inc.,
          Residential Funding  Corporation and Norwest Bank Minnesota,  National
          Association, Mortgage Pass- Through Certificates, Series 1999-S9

Ladies and Gentlemen:

            In  accordance  with Section 2.03 of the  above-captioned  Custodial
Agreement, the undersigned,  as Custodian, hereby certifies that it has received
a Mortgage  File with respect to each  Mortgage Loan listed in the Mortgage Loan
Schedule  containing  (I) with respect to each such  Mortgage Loan (other than a
Cooperative Loan):

                 (i) The original  Mortgage Note,  endorsed  without recourse to
            the  order  of  the  Trustee  and  showing  an  unbroken   chain  of
            endorsements from the originator  thereof to the Person endorsing it
            to the Trustee or an original lost note  affidavit  from the related
            Seller or  Residential  Funding  stating that the original  Mortgage
            Note was lost,  misplaced or destroyed,  together with a copy of the
            related Mortgage Note;

                 (ii) The original Mortgage with evidence of recording indicated
            thereon or a copy of the Mortgage  certified by the public recording
            office in which such mortgage has been recorded;

                 (iii) An  original  Assignment  of the  Mortgage to the Trustee
            with  evidence  of  recording  indicated  thereon  or a copy of such
            assignment  certified by the public  recording  office in which such
            assignment has been recorded;

                 (iv)  With  respect  to  each   Mortgage   Loan  other  than  a
            Cooperative Loan, the original recorded assignment or assignments of
            the Mortgage  showing an unbroken chain of title from the originator
            thereof to the Person  assigning it to the Trustee or a copy of such
            assignment or  assignments  of the Mortgage  certified by the public
            recording  office in which such assignment or assignments  have been
            recorded; and

                 (v) The original of each modification,  assumption agreement or
preferred





<PAGE>





            loan agreement,  if any, relating to such Mortgage Loan or a copy of
            each modification,  assumption agreement or preferred loan agreement
            certified by the public  recording office in which such document has
            been recorded;

and (II) with respect to each Cooperative Loan so assigned:

                  (i) The original  Mortgage Note,  endorsed without recourse to
            the  order  of  the  Trustee  and  showing  an  unbroken   chain  of
            endorsements from the originator  thereof to the Person endorsing it
            to the Trustee,  or with respect to any Destroyed  Mortgage Note, an
            original lost note  affidavit from the related Seller or Residential
            Funding 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) The original of each modification,  assumption  agreement
            or preferred loan agreement,  if any,  relating to such  Cooperative
            Loan; and

                  (x) An executed UCC-1 financing  statement  showing the Master
            Servicer as debtor,  the Company as secured party and the Trustee as
            assignee  and 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





<PAGE>





            debtors in the Cooperative Loans.

            Capitalized  words and phrases used herein shall have the respective
meanings assigned to them in the above-captioned Custodial Agreement.


                                    NORWEST BANK MINNESOTA, NATIONAL
                                    ASSOCIATION


                                      By: 
                                      Name:
                                     Title:








<PAGE>







                                  EXHIBIT F

                            MORTGAGE LOAN SCHEDULE



1
 
  RUN ON     : 04/27/99           RFC DISCLOSURE SYSTEM       RFFSD177-01
  AT         : 13.21.11          FIXED RATE LOAN LISTING      AMORTIZED BALANCE
  SERIES     : RFMSI 1999-S9                                  CUTOFF : 04/01/99
  POOL       : 0004369
             :
             :
  POOL STATUS: F
 
  RFC LOAN #     S/S CODE          PMT TYPE      ORIGINAL BAL     LOAN FEATURE
                                   ORIG TERM     PRINCIPAL BAL    # OF UNITS
  ADDRESS                          ORIG RATE     ORIGINAL P+I     LTV
  ADDRESS LINE 2                   CURR NET      CURRENT P+I      VALUE
  CITY           STATE  ZIP        LOAN PURP     NOTE DATE        MI CO CODE
  SERVICER LOAN #                  PROP TYPE     1ST PMT DATE     MI CVG
  SELLER LOAN #                    OCCP CODE     MATURITY DATE
  INVESTOR LOAN #
  ______________________________________________________________________________
 
 
    1669859          747/K06             F          249,463.46         ZZ
                                         352        247,197.45          1
    9656 WILSHIRE LAKES BOULEVARD      7.875          1,819.03         80
                                       7.625          1,819.03      312,500.00
    NAPLES           FL   34109          5            12/01/97         00
    0430564849                           03           02/01/98          0
    174010                               O            05/01/27
    0
 
 
    1734764          F88/K06             F          430,000.00         ZZ
                                         360        426,551.70          1
    2740 SUMMIT DRIVE                  7.750          3,080.57         73
                                       7.500          3,080.57      595,000.00
    BURLINGAME       CA   94010          1            04/07/98         00
    0430764563                           05           06/01/98          0
    98030273                             O            05/01/28
    0
 
 
    1811244          830/G01             F          267,950.00         ZZ
                                         360        266,645.10          1
    6143 ASHTON PLACE                  7.125          1,805.23         91
                                       6.875          1,805.23      295,500.00
    RANCHO CUCAMONG  CA   91739          2            09/22/98         14
    0431250794                           05           11/01/98         30
    539579                               O            10/01/28
    0
 
 
    1816839          A06/G01             F          315,000.00         ZZ
                                         360        315,000.00          1
    4691 ROLLING RIDGE                 7.375          2,175.63         75
                                       7.125          2,175.63      420,000.00
    WEST BLOOMFIELD  MI   48323          5            03/12/99         00
    0431259373                           05           05/01/99          0
1
 
 
    001000009814007                      O            04/01/29
    0
 
 
    1841875          J95/J95             F          432,000.00         ZZ
                                         360        430,336.07          1
    75 MOUNTAIN CREEK TRACE            7.375          2,983.72         80
                                       7.125          2,983.72      540,000.00
    ATLANTA          GA   30328          1            10/21/98         00
    13493762                             05           12/01/98          0
    13493762                             O            11/01/28
    0
 
 
    1842626          N50/N50             F          537,000.00         ZZ
                                         360        536,138.59          1
    1068 IKENA CIRCLE                  7.125          3,617.87         72
                                       6.875          3,617.87      755,000.00
    HONOLULU         HI   96821          5            02/01/99         00
    1311000155                           05           03/01/99          0
    1311000155                           O            02/01/29
    0
 
 
    1847683          J95/J95             F          596,000.00         ZZ
                                         360        593,467.56          1
    290 MARGARITA DRIVE                6.875          3,915.30         80
                                       6.625          3,915.30      745,000.00
    SAN RAFAEL       CA   94901          1            10/23/98         00
    0016179806                           05           12/01/98          0
    0016179806                           O            11/01/28
    0
 
 
    1847804          J95/J95             F          246,950.00         ZZ
                                         360        245,544.82          1
    23901 35TH AVENUE WEST             7.125          1,663.75         95
                                       6.875          1,663.75      259,950.00
    BRIER            WA   98036          1            10/09/98         19
    0013080320                           05           12/01/98         30
    0013080320                           O            11/01/28
    0
 
 
    1848508          E60/G01             F          256,000.00         T
                                         360        255,213.60          1
    445 PEMBROOK DRIVE                 7.375          1,768.13         80
                                       7.125          1,768.13      320,000.00
    CAMBRIA          CA   93428          1            11/23/98         00
    0431125848                           05           01/01/99          0
    511421                               O            12/01/28
    0
 
 
1
 
 
    1852085          J95/J95             F          481,600.00         ZZ
                                         360        479,392.75          2
    105 40TH STREET                    6.875          3,163.77         80
                                       6.625          3,163.77      602,000.00
    MANHATTAN BEACH  CA   90266          1            10/02/98         00
    0013511092                           05           12/01/98          0
    0013511092                           O            11/01/28
    0
 
 
    1852249          J95/J95             F          272,750.00         ZZ
                                         360        271,619.00          1
    6144 ROSO STREET                   7.000          1,814.62         80
                                       6.750          1,814.62      340,980.00
    SPRINGFIELD      VA   22150          1            10/30/98         00
    0009223371                           03           12/01/98          0
    0009223371                           O            11/01/28
    0
 
 
    1852855          J95/J95             F          285,000.00         ZZ
                                         360        283,902.30          1
    611 9TH STREET NO 5                7.375          1,968.42         95
                                       7.125          1,968.42      300,000.00
    SANTA MONICA     CA   90402          1            10/19/98         04
    0013179072                           01           12/01/98         30
    0013179072                           O            11/01/28
    0
 
 
    1854245          L88/G01             F          292,000.00         ZZ
                                         360        291,766.49          1
    1612 CASEY KEY DRIVE               7.125          1,967.26         79
                                       6.875          1,967.26      370,000.00
    PUNTA GORDA      FL   33950          2            02/16/99         00
    0431245877                           05           04/01/99          0
    1854245                              O            03/01/29
    0
 
 
    1855728          B75/G01             F          247,000.00         ZZ
                                         360        246,429.99          1
    12933 CROIX CIRCLE                 7.625          1,748.25         81
                                       7.375          1,748.25      305,000.00
    RIVERTON         UT   84065          2            12/08/98         01
    0431145820                           05           02/01/99         12
    6225692                              O            01/01/29
    0
 
 
    1858159          638/G01             F          162,400.00         ZZ
                                         360        161,925.33          1
    603 WHIPPLE ROAD                   7.625          1,149.46         95
                                       7.375          1,149.46      171,000.00
1
 
 
    GRIDLEY          CA   95948          2            11/23/98         10
    0431149723                           05           01/01/99         30
    08825245                             O            12/01/28
    0
 
 
    1858551          964/G01             F          292,000.00         ZZ
                                         360        291,277.76          1
    405 PEBBLE BEACH PLACE             7.000          1,942.68         80
                                       6.750          1,942.68      365,000.00
    FULLERTON        CA   92835          1            12/10/98         00
    0431145366                           03           02/01/99          0
    47526                                O            01/01/29
    0
 
 
    1859432          B75/G01             F          420,000.00         ZZ
                                         360        419,326.27          1
    370 PORTLOCK ROAD                  7.125          2,829.62         80
                                       6.875          2,829.62      525,000.00
    HONOLULU         HI   96825          1            01/20/99         00
    0431250885                           05           03/01/99          0
    7441173                              O            02/01/29
    0
 
 
    1859858          480/G01             F        1,000,000.00         ZZ
                                         360        998,314.94          1
    980 NORMAN PLACE                   6.875          6,569.29         64
                                       6.625          6,569.29    1,575,000.00
    LOS ANGELES      CA   90048          2            01/15/99         00
    0431232503                           05           03/01/99          0
    2658037                              O            02/01/29
    0
 
 
    1859908          299/299             F          300,000.00         ZZ
                                         360        297,025.18          1
    3439 WOODLAND HILLS LANE           7.125          2,021.16         70
                                       6.875          2,021.16      430,000.00
    ROANOKE          VA   24014          5            03/10/98         00
    0000749359                           05           05/01/98          0
    0000749359                           O            04/01/28
    0
 
 
    1860150          P60/P60             F          255,000.00         ZZ
                                         360        253,490.25          1
    2837 STONE MILL CT                 7.625          1,804.87         76
                                       7.375          1,804.87      336,100.00
    BEAVERCREEK      OH   45434          1            07/29/98         00
    28494                                05           09/01/98          0
    6100028494                           O            08/01/28
    0
1
 
 
 
 
    1862240          665/G01             F          266,000.00         ZZ
                                         360        265,342.08          1
    4824 PLACIDIA AVENUE               7.000          1,769.70         79
                                       6.750          1,769.70      340,000.00
    LOS ANGELES      CA   91601          2            12/18/98         00
    0431255488                           05           02/01/99          0
    9801227227                           O            01/01/29
    0
 
 
    1863225          822/G01             F          200,000.00         ZZ
                                         360        200,000.00          1
    1047 SUNWOOD LANE                  7.500          1,398.43         52
                                       7.250          1,398.43      390,000.00
    LANCASTER        PA   17601          2            03/08/99         00
    0431254465                           05           05/01/99          0
    1206021114                           O            04/01/29
    0
 
 
    1864181          811/G01             F          546,350.00         ZZ
                                         360        544,998.63          1
    1162 BROWN AVENUE                  7.000          3,634.88         69
                                       6.750          3,634.88      795,000.00
    LAFAYETTE        CA   94549          5            12/29/98         00
    0431179746                           03           02/01/99          0
    FM02104611                           O            01/01/29
    0
 
 
    1868154          665/G01             F          247,950.00         ZZ
                                         360        247,556.10          1
    3480 BENTON STREET                 7.500          1,733.70         95
                                       7.250          1,733.70      261,000.00
    SANTA CLARA      CA   95051          1            01/06/99         11
    0431250075                           05           03/01/99         30
    9801227474                           O            02/01/29
    0
 
 
    1868304          313/G01             F          649,950.00         ZZ
                                         360        648,381.44          1
    10040 EAST HAPPY VALLEY ROAD       7.125          4,378.84         75
    #474                               6.875          4,378.84      872,990.00
    SCOTTSDALE       AZ   85255          4            12/21/98         00
    0431220805                           03           02/01/99          0
    6289938                              O            01/01/29
    0
 
 
    1871041          E26/G01             F           93,750.00         ZZ
                                         360         93,606.88          1
1
 
 
    11259 WEST 103RD DRIVE             7.375            647.51         68
                                       7.125            647.51      138,400.00
    WESTMINISTER     CO   80021          5            01/11/99         00
    0431259225                           05           03/01/99          0
    34802194                             O            02/01/29
    0
 
 
    1872474          944/G01             F          193,000.00         ZZ
                                         360        192,674.79          1
    2919 AGUA VISTA DRIVE              6.875          1,267.87         54
                                       6.625          1,267.87      360,000.00
    SAN JOSE         CA   95132          2            01/12/99         00
    0431257476                           05           03/01/99          0
    17080                                O            02/01/29
    0
 
 
    1873125          806/G01             F          166,900.00         ZZ
                                         360        166,766.53          1
    433 GLENBRIAR CIRCLE               7.125          1,124.44         80
                                       6.875          1,124.44      208,680.00
    TRACY            CA   95376          1            02/03/99         00
    0431253970                           05           04/01/99          0
    1080015555                           O            03/01/29
    0
 
 
    1873330          575/G01             F          119,000.00         ZZ
                                         360        118,712.80          1
    13515 CARMEL LANE                  7.125            801.73         70
                                       6.875            801.73      170,000.00
    CHANTILLY        VA   20151          2            12/30/98         00
    0431252121                           05           02/01/99          0
    0009260399                           O            01/01/29
    0
 
 
    1873527          A06/G01             F          446,000.00         ZZ
                                         360        446,000.00          1
    STUYVESSANT                        7.125          3,004.79         47
                                       6.875          3,004.79      950,000.00
    BLOOMFIELD HILL  MI   48301          2            03/17/99         00
    0431262187                           05           05/01/99          0
    001000009813657                      O            04/01/29
    0
 
 
    1873943          964/G01             F          239,400.00         ZZ
                                         360        238,996.59          1
    2990 SAMARIA PLACE                 6.875          1,572.69         80
                                       6.625          1,572.69      299,250.00
    SAN JOSE         CA   95111          1            01/26/99         00
    0431196831                           03           03/01/99          0
1
 
 
    49782                                O            02/01/29
    0
 
 
    1874177          B98/G01             F          158,500.00         ZZ
                                         360        158,500.00          1
    14412 RIVERTON ST                  7.125          1,067.85         69
                                       6.875          1,067.85      230,000.00
    WESTMINSTER      CA   92683          2            03/12/99         00
    0431264290                           03           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1874184          952/G01             F          338,000.00         ZZ
                                         360        338,000.00          1
    300 MAPLE AVENUE                   7.125          2,277.17         80
                                       6.875          2,277.17      422,500.00
    ORADELL          NJ   07649          1            03/09/99         00
    0431250414                           05           05/01/99          0
    98002804                             O            04/01/29
    0
 
 
    1874755          A59/G01             F          420,000.00         ZZ
                                         360        420,000.00          1
    7001 WESTON CIRCLE                 7.125          2,829.62         75
                                       6.875          2,829.62      560,000.00
    EDINA            MN   55439          2            03/08/99         00
    0431250299                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1874970          637/G01             F          455,000.00         ZZ
                                         360        453,954.93          1
    523 CHARLES HILL ROAD              7.375          3,142.58         70
                                       7.125          3,142.58      658,500.00
    SCOTTS VALLEY    CA   95065          2            12/10/98         00
    0431266915                           03           02/01/99          0
    0010146314                           O            01/01/29
    0
 
 
    1874971          637/G01             F          285,000.00         ZZ
                                         360        284,312.19          1
    16 MONETA COURT                    7.125          1,920.10         83
                                       6.875          1,920.10      345,000.00
    SAN FRANCISCO    CA   94112          2            12/09/98         04
    0431201474                           05           02/01/99         12
    0010163178                           O            01/01/29
    0
 
 
1
 
 
    1875510          624/G01             F          273,460.00         ZZ
                                         360        273,460.00          1
    5008 CRYSTAL SPRINGS DRIVE NE      7.500          1,912.07         53
                                       7.250          1,912.07      522,000.00
    BAINBRIDGE ISLA  WA   98110          2            03/09/99         00
    0431260322                           05           05/01/99          0
    33400190226                          O            04/01/29
    0
 
 
    1875761          714/G01             F          304,000.00         ZZ
                                         360        303,756.90          1
    1111 PLEASANT VALLEY ROAD          7.125          2,048.10         76
                                       6.875          2,048.10      405,000.00
    WEST BEND        WI   53095          2            02/23/99         00
    0431262716                           05           04/01/99          0
    1875761                              O            03/01/29
    0
 
 
    1875904          N71/G01             F          128,000.00         ZZ
                                         360        128,000.00          1
    2125 BAY DRIVE                     7.500            894.99         80
                                       7.250            894.99      160,000.00
    MIAMI BEACH      FL   33141          1            03/12/99         00
    0431266527                           05           05/01/99          0
    27550299                             O            04/01/29
    0
 
 
    1876106          F59/G01             F          340,000.00         ZZ
                                         300        340,000.00          1
    225 POND AVENUE                    7.375          2,484.99         74
                                       7.125          2,484.99      460,000.00
    BROOKLINE        MA   02146          5            03/03/99         00
    0431244946                           05           05/01/99          0
    0000                                 O            04/01/24
    0
 
 
    1876242          F03/G01             F          309,000.00         ZZ
                                         360        308,740.40          1
    19191 JASPER HILL RD               6.875          2,029.91         62
                                       6.625          2,029.91      500,000.00
    TRABUCO CANYON   CA   92679          2            02/26/99         00
    0431243260                           03           04/01/99          0
    LAG11617                             O            03/01/29
    0
 
 
    1876460          A06/G01             F          450,000.00         ZZ
                                         360        450,000.00          1
    1169 LAKESIDE DRIVE                7.000          2,993.87         52
                                       6.750          2,993.87      880,000.00
1
 
 
    BIRMINGHAM       MI   48009          5            03/22/99         00
    0431266907                           05           05/01/99          0
    001000009813565                      O            04/01/29
    0
 
 
    1876581          F59/G01             F          279,000.00         ZZ
                                         360        279,000.00          1
    4 FLINT LANE                       7.125          1,879.67         80
                                       6.875          1,879.67      350,000.00
    NORTH EASTON     MA   02356          2            03/01/99         00
    0431250125                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1876687          A06/G01             F          420,300.00         ZZ
                                         360        420,300.00          1
    2158 PEBBLE CREEK                  7.125          2,831.64         74
                                       6.875          2,831.64      570,000.00
    OAKLAND          MI   48363          2            03/26/99         00
    0431277797                           05           05/01/99          0
    9817664                              O            04/01/29
    0
 
 
    1877423          P76/G01             F          100,000.00         ZZ
                                         360         99,925.79          1
    1438 SAN ANTONE LANE               7.500            699.21         70
                                       7.250            699.21      143,500.00
    LEWISVILLE       TX   75056          1            02/25/99         00
    0431263888                           05           04/01/99          0
    00                                   O            03/01/29
    0
 
 
    1877911          K08/G01             F          311,000.00         ZZ
                                         360        310,462.97          1
    7302 ROZENA DRIVE                  6.750          2,017.14         75
                                       6.500          2,017.14      415,000.00
    LONGMONT         CO   80503          5            01/25/99         00
    0411204423                           05           03/01/99          0
    411204423                            O            02/01/29
    0
 
 
    1878030          F59/G01             F          481,500.00         ZZ
                                         360        481,500.00          1
    71 SEVLAND ROAD                    7.000          3,203.43         80
                                       6.750          3,203.43      602,000.00
    NEWTON           MA   02459          2            02/26/99         00
    0431238476                           05           05/01/99          0
    1878030                              O            04/01/29
    0
1
 
 
 
 
    1878032          F59/G01             F          554,000.00         ZZ
                                         360        554,000.00          1
    21 CEDAR SPRINGS LANE              7.125          3,732.40         70
                                       6.875          3,732.40      795,000.00
    NEEDHAM          MA   02492          2            02/25/99         00
    0431236827                           05           05/01/99          0
    1878032                              O            04/01/29
    0
 
 
    1878190          L81/G01             F          355,000.00         ZZ
                                         360        354,709.01          1
    15005 LODOSA DRIVE                 7.000          2,361.82         80
                                       6.750          2,361.82      445,000.00
    WHITTIER         CA   90605          2            02/18/99         00
    0431252568                           05           04/01/99          0
    990148                               O            03/01/29
    0
 
 
    1878193          964/G01             F          536,000.00         ZZ
                                         360        536,000.00          1
    2001 GRAND ISLAND COURT            7.000          3,566.02         80
                                       6.750          3,566.02      670,000.00
    LAS VEGAS        NV   89117          1            03/03/99         00
    0431257542                           03           05/01/99          0
    47942                                O            04/01/29
    0
 
 
    1878239          F59/G01             F          307,000.00         ZZ
                                         360        307,000.00          1
    35 FIORENZA DR.                    7.125          2,068.32         75
                                       6.875          2,068.32      409,500.00
    WILMINGTON       MA   01887          2            03/10/99         00
    0431261460                           05           05/01/99          0
    1878239                              O            04/01/29
    0
 
 
    1879095          F59/G01             F          310,000.00         ZZ
                                         360        310,000.00          1
    2 NEWBURY TERRACE                  7.125          2,088.53         69
                                       6.875          2,088.53      455,000.00
    NEWTON           MA   02459          2            03/04/99         00
    0431244920                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1879282          A06/G01             F          304,000.00         ZZ
                                         360        304,000.00          1
1
 
 
    655 N HUNDLEY                      7.375          2,099.66         80
                                       7.125          2,099.66      380,000.00
    HOFFMAN ESTATE   IL   60194          2            03/17/99         00
    0431264050                           05           05/01/99          0
    00100000991379                       O            04/01/29
    0
 
 
    1879306          H93/G01             F           54,150.00         ZZ
                                         360         54,069.39          1
    6328 KENTUCKY                      7.500            378.62         94
                                       7.250            378.62       58,000.00
    KANSAS CITY      MO   64133          2            02/01/99         04
    0431252329                           05           03/01/99         30
    9904743                              O            02/01/29
    0
 
 
    1879395          M16/G01             F          385,000.00         ZZ
                                         240        385,000.00          1
    8163 PARUS WAY                     7.500          3,101.54         85
                                       7.250          3,101.54      455,000.00
    GRANITE BAY      CA   95746          2            03/06/99         04
    0431259365                           05           05/01/99         12
    00                                   O            04/01/19
    0
 
 
    1879604          K08/G01             F           90,000.00         ZZ
                                         360         89,850.79          1
    16420 SW 77 AVE                    7.000            598.77         43
                                       6.750            598.77      211,000.00
    MIAMI            FL   33157          5            01/29/99         00
    0411264278                           05           03/01/99          0
    411264278                            O            02/01/29
    0
 
 
    1880607          F59/G01             F          340,000.00         ZZ
                                         360        340,000.00          1
    43 HAWES ROAD                      7.000          2,262.03         64
                                       6.750          2,262.03      535,000.00
    SUDBURY          MA   01776          5            03/03/99         00
    0431245463                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1880725          168/168             F          264,000.00         ZZ
                                         360        263,270.20          1
    182 MAY STREET                     7.000          1,756.40         65
                                       6.750          1,756.40      410,000.00
    ELMHURST         IL   60126          2            12/22/98         00
    9810092                              05           02/01/99          0
1
 
 
    9810092                              O            01/01/29
    0
 
 
    1880847          757/G01             F          300,000.00         ZZ
                                         353        299,457.88          1
    3 FORE ROYAL CIRCLE                6.750          1,957.80         70
                                       6.500          1,957.80      430,000.00
    SAVANNAH         GA   31411          2            01/22/99         00
    0431252386                           03           03/01/99          0
    3492493                              O            07/01/28
    0
 
 
    1880876          168/168             F          255,000.00         ZZ
                                         360        254,590.95          1
    37 LAKESIDE DRIVE                  7.125          1,717.98         75
                                       6.875          1,717.98      340,000.00
    KATANOAH         NY   10536          5            12/31/98         00
    2430138                              05           03/01/99          0
    0249301385                           O            02/01/29
    0
 
 
    1880937          814/G01             F          210,500.00         ZZ
                                         360        210,339.82          1
    722 CAMINO LA MAIDA                7.375          1,453.88         94
                                       7.125          1,453.88      225,000.00
    THOUSAND OAKS    CA   91360          2            02/22/99         10
    0431250133                           05           04/01/99         30
    0001117639                           O            03/01/29
    0
 
 
    1880970          P60/G01             F          296,000.00         ZZ
                                         360        295,763.29          1
    8964 SAND RIDGE RD                 7.125          1,994.21         74
                                       6.875          1,994.21      404,000.00
    HOLLAND          OH   43528          2            02/09/99         00
    0431265040                           05           04/01/99          0
    6100036662                           O            03/01/29
    0
 
 
    1881020          976/976             F          608,000.00         ZZ
                                         360        606,975.48          1
    8930 ABBEY TERRACE                 6.875          3,994.13         80
                                       6.625          3,994.13      760,000.00
    POTOMAC          MD   20854          2            01/25/99         00
    5366650                              03           03/01/99          0
    5366650                              O            02/01/29
    0
 
 
1
 
 
    1881025          976/976             F          350,000.00         ZZ
                                         360        349,112.78          1
    74 WALTHAM STREET, UNIT 3          6.875          2,299.26         60
                                       6.625          2,299.26      585,000.00
    BOSTON           MA   02118          1            12/28/98         00
    5373633                              01           02/01/99          0
    5373633                              O            01/01/29
    0
 
 
    1881030          976/976             F          289,250.00         ZZ
                                         360        288,762.59          1
    21712 GLENDALOUGH ROAD             6.875          1,900.17         95
                                       6.625          1,900.17      304,500.00
    GAITHERSBURG     MD   20882          1            01/29/99         11
    5401341                              05           03/01/99         30
    5401341                              O            02/01/29
    0
 
 
    1881059          976/976             F          450,000.00         ZZ
                                         360        449,241.71          1
    4 PRESERVATION WAY                 6.875          2,956.19         63
                                       6.625          2,956.19      715,000.00
    MEDFIELD         MA   02052          5            01/27/99         00
    5478089                              05           03/01/99          0
    5478089                              O            02/01/29
    0
 
 
    1881066          976/976             F          650,000.00         ZZ
                                         360        648,904.71          1
    540 VALENCIA DRIVE                 6.875          4,270.04         55
                                       6.625          4,270.04    1,200,000.00
    LOS ALTOS        CA   94022          5            01/21/99         00
    5481491                              05           03/01/99          0
    5481491                              O            02/01/29
    0
 
 
    1881097          976/976             F          450,000.00         ZZ
                                         360        449,184.18          1
    8716 NORTH 69TH STREET             6.500          2,844.31         72
                                       6.250          2,844.31      625,000.00
    PARADISE VALLEY  AZ   85253          1            01/14/99         00
    5571400                              03           03/01/99          0
    5571400                              O            02/01/29
    0
 
 
    1881100          976/976             F          397,600.00         ZZ
                                         360        396,930.02          1
    5 GREEN LANE                       6.875          2,611.95         80
                                       6.625          2,611.95      497,000.00
1
 
 
    UPTON            MA   01568          1            01/28/99         00
    5575776                              05           03/01/99          0
    5575776                              O            02/01/29
    0
 
 
    1881104          976/976             F          325,000.00         ZZ
                                         360        324,452.35          1
    1606 CRESTVIEW DRIVE               6.875          2,135.02         46
                                       6.625          2,135.02      722,000.00
    LOS ALTOS        CA   94024          1            01/11/99         00
    5576407                              05           03/01/99          0
    5576407                              O            02/01/29
    0
 
 
    1881127          976/976             F          390,000.00         ZZ
                                         360        389,342.82          1
    39 ADAMS ROAD                      6.875          2,562.03         78
                                       6.625          2,562.03      504,000.00
    BOXFORD          MA   01921          2            01/13/99         00
    5596111                              05           03/01/99          0
    5596111                              O            02/01/29
    0
 
 
    1881140          976/976             F          650,000.00         ZZ
                                         360        649,123.96          1
    337 EAST AVOCADO CREST ROAD        6.875          4,270.04         80
                                       6.625          4,270.04      820,000.00
    LA HABRA HEIGHT  CA   90631          1            02/01/99         00
    5599972                              05           04/01/99          0
    5599972                              O            03/01/29
    0
 
 
    1881144          976/976             F          400,000.00         ZZ
                                         360        397,733.38          1
    2001 WINDING WAY                   6.875          2,627.72         80
                                       6.625          2,627.72      500,000.00
    BROOMALL         PA   19008          2            01/14/99         00
    5605481                              05           03/01/99          0
    5605481                              O            02/01/29
    0
 
 
    1881146          976/976             F          368,000.00         ZZ
                                         360        367,379.89          1
    28808 CEDARBLUFF DRIVE             6.875          2,417.50         80
                                       6.625          2,417.50      460,000.00
    RANCHO PALOS VE  CA   90275          1            01/19/99         00
    5606146                              05           03/01/99          0
    5606146                              O            02/01/29
    0
1
 
 
 
 
    1881150          976/976             F          288,000.00         ZZ
                                         360        287,514.69          1
    11430 SENECA FOREST CIRCLE         6.875          1,891.96         80
                                       6.625          1,891.96      360,000.00
    GERMANTOWN       MD   20876          2            01/26/99         00
    5609205                              05           03/01/99          0
    5609205                              O            02/01/29
    0
 
 
    1881386          168/168             F          351,000.00         ZZ
                                         360        350,340.43          1
    5 STEEPLE CREST COURT              6.750          2,276.58         90
                                       6.500          2,276.58      390,000.00
    IRMO             SC   29063          1            01/15/99         14
    0249338688                           03           03/01/99         25
    0249338688                           O            02/01/29
    0
 
 
    1881400          L70/G01             F          234,000.00         ZZ
                                         360        234,000.00          1
    13775 GRAND ISLE DR                6.500          1,479.04         75
                                       6.250          1,479.04      315,000.00
    MOORPARK         CA   93021          5            03/01/99         00
    0431240555                           05           05/01/99          0
    AAA990000017                         O            04/01/29
    0
 
 
    1881504          K08/G01             F          368,000.00         ZZ
                                         360        367,683.16          1
    1904 ROCKPORT ROAD                 6.750          2,386.84         80
                                       6.500          2,386.84      460,000.00
    EDMOND           OK   73013          2            02/02/99         00
    0411257587                           05           04/01/99          0
    411257587                            O            03/01/29
    0
 
 
    1881769          731/G01             F          203,250.00         ZZ
                                         360        203,250.00          1
    2 TAMBOUR PLACE                    7.625          1,438.59         75
                                       7.375          1,438.59      271,000.00
    FOOTHILL RANCH   CA   92610          2            03/09/99         00
    0431265883                           03           05/01/99          0
    916084573                            O            04/01/29
    0
 
 
    1881774          168/168             F          280,000.00         ZZ
                                         360        278,375.36          1
1
 
 
    303 CLEARPORT DRIVE                6.625          1,792.87         76
                                       6.375          1,792.87      371,930.00
    MORRISVILLE      NC   27560          1            11/30/98         00
    0249306441                           05           01/01/99          0
    0249306441                           O            12/01/28
    0
 
 
    1882145          822/G01             F          288,000.00         ZZ
                                         360        288,000.00          1
    110 MONTCHAN DRIVE                 6.750          1,867.97         80
                                       6.500          1,867.97      360,000.00
    GREENVILLE       DE   19807          1            03/01/99         00
    0431242726                           05           05/01/99          0
    XXX                                  O            04/01/29
    0
 
 
    1882329          975/G01             F          333,000.00         ZZ
                                         360        332,746.61          1
    10 FESTIVO                         7.375          2,299.95         75
                                       7.125          2,299.95      444,000.00
    IRVINE           CA   92606          1            02/11/99         00
    0431260728                           03           04/01/99          0
    990384                               O            03/01/29
    0
 
 
    1882380          K65/G01             F          510,000.00         ZZ
                                         360        509,571.54          1
    3283 WOOD VALLEY ROAD              6.875          3,350.34         66
                                       6.625          3,350.34      780,000.00
    ATLANTA          GA   30327          2            02/26/99         00
    0431251446                           05           04/01/99          0
    9900895B                             O            03/01/29
    0
 
 
    1882529          N24/G01             F          393,800.00         ZZ
                                         360        393,800.00          1
    5606 UPPER TWIN CREEK ROAD         7.000          2,619.96         71
                                       6.750          2,619.96      555,000.00
    CASTLE ROCK      CO   80104          2            03/19/99         00
    0431261809                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1882544          M29/G01             F          330,500.00         ZZ
                                         360        330,229.09          1
    3061 EAST FLOYD DRIVE              7.000          2,198.83         80
                                       6.750          2,198.83      418,000.00
    DENVER           CO   80210          5            03/05/99         00
    0431252048                           05           04/01/99          0
1
 
 
    0000                                 O            03/01/29
    0
 
 
    1882555          A06/G01             F          338,500.00         ZZ
                                         360        338,500.00          1
    28906 HIDDEN TRAIL                 7.125          2,280.54         73
                                       6.875          2,280.54      465,000.00
    FARMINGTON HILL  MI   48331          2            03/19/99         00
    0431263847                           05           05/01/99          0
    001000009901012                      O            04/01/29
    0
 
 
    1882582          299/G01             F          360,000.00         ZZ
                                         360        358,967.84          1
    91 BELCHER DRIVE                   6.500          2,275.44         75
                                       6.250          2,275.44      480,000.00
    STUDBURY         MA   01776          2            12/11/98         00
    0431240258                           05           02/01/99          0
    969807                               O            01/01/29
    0
 
 
    1882608          L86/G01             F          375,000.00         ZZ
                                         360        375,000.00          1
    144 SIENA DRIVE                    7.000          2,494.88         56
                                       6.750          2,494.88      670,000.00
    LONG BEACH       CA   90803          2            03/08/99         00
    0431276666                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1882615          369/G01             F        1,000,000.00         T
                                         360      1,000,000.00          1
    1002 MOKULUA DRIVE                 7.500          6,992.15         63
                                       7.250          6,992.15    1,600,000.00
    KAILUA           HI   96734          1            03/12/99         00
    0431277789                           05           05/01/99          0
    71212716                             O            04/01/29
    0
 
 
    1882617          K21/G01             F          290,400.00         ZZ
                                         360        290,400.00          1
    23 ELIZABETH LANE                  7.000          1,932.04         80
                                       6.750          1,932.04      363,355.00
    IRVINE           CA   92602          1            03/16/99         00
    0431272160                           05           05/01/99          0
    9910844                              O            04/01/29
    0
 
 
1
 
 
    1882665          G15/G01             F          220,000.00         ZZ
                                         360        220,000.00          1
    251 CHICKAGAMI TRAIL               7.500          1,538.27         80
                                       7.250          1,538.27      275,000.00
    MEDFORD LAKES    NJ   08055          1            03/05/99         00
    0431260173                           05           05/01/99          0
    10800079                             O            04/01/29
    0
 
 
    1882814          H19/G01             F          365,000.00         ZZ
                                         360        365,000.00          1
    10179 SOUTH BELL CANYON ROAD       7.250          2,489.95         72
                                       7.000          2,489.95      510,000.00
    SANDY            UT   84092          1            03/01/99         00
    0431256171                           05           05/01/99          0
    0002130730                           O            04/01/29
    0
 
 
    1882861          L51/G01             F          315,000.00         ZZ
                                         360        315,000.00          1
    234 BRENTWOOD CIRCLE               7.000          2,095.71         70
                                       6.750          2,095.71      450,000.00
    NORTH ANDOVER    MA   01845          2            03/12/99         00
    0431251461                           05           05/01/99          0
    50144                                O            04/01/29
    0
 
 
    1882888          N24/G01             F          110,000.00         ZZ
                                         360        110,000.00          1
    1605 GORE DRIVE                    7.250            750.39         28
                                       7.000            750.39      400,000.00
    LARKSPUR         CO   80118          2            03/04/99         00
    0431246818                           03           05/01/99          0
    00                                   O            04/01/29
    0
 
 
    1882911          562/G01             F          273,000.00         ZZ
                                         360        272,776.22          1
    24 AQUEDUCT LANE UNIT 6            7.000          1,816.28         70
                                       6.750          1,816.28      390,000.00
    HASTINGS ON HUD  NY   10706          2            02/16/99         00
    0431234632                           01           04/01/99          0
    587154                               O            03/01/29
    0
 
 
    1882933          L81/G01             F          285,000.00         ZZ
                                         360        285,000.00          1
    23359 BESSEMER ST                  7.125          1,920.10         75
                                       6.875          1,920.10      380,000.00
1
 
 
    WOODLIN HILLS    CA   91367          2            02/24/99         00
    0431249960                           05           05/01/99          0
    980529                               O            04/01/29
    0
 
 
    1882968          K21/G01             F          484,800.00         ZZ
                                         360        484,800.00          1
    1592 CAPITANCILLOS DRIVE           6.875          3,184.79         80
                                       6.625          3,184.79      606,000.00
    SAN JOSE         CA   95120          1            03/01/99         00
    0431245885                           05           05/01/99          0
    9910903                              O            04/01/29
    0
 
 
    1883072          K21/G01             F          375,200.00         ZZ
                                         360        375,200.00          1
    13082 MINDANAO WAY NO. 8           7.250          2,559.53         79
    MARINA DEL REY AREA                7.000          2,559.53      475,000.00
    LOS ANGELES      CA   90292          2            03/08/99         00
    0431255496                           01           05/01/99          0
    9910892                              O            04/01/29
    0
 
 
    1883122          K79/G01             F          311,000.00         ZZ
                                         360        311,000.00          1
    57 RIVERSIDE DRIVE                 7.250          2,121.57         70
                                       7.000          2,121.57      446,000.00
    NORWELL          MA   02061          5            03/05/99         00
    0431252683                           05           05/01/99          0
    12214                                O            04/01/29
    0
 
 
    1883134          822/G01             F          105,000.00         ZZ
                                         360        105,000.00          1
    302 BRIELLE AVENUE                 7.500            734.18         59
                                       7.250            734.18      180,000.00
    BRIELLE          NJ   08730          1            03/10/99         00
    0431252063                           05           05/01/99          0
    0616001134                           O            04/01/29
    0
 
 
    1883221          F88/G01             F          174,750.00         ZZ
                                         360        174,750.00          1
    6601 WALTON DRIVE                  7.625          1,236.87         75
                                       7.375          1,236.87      234,750.00
    HUNTINGTON BEAC  CA   92647          1            03/05/99         00
    0431249994                           05           05/01/99          0
    29902057                             O            04/01/29
    0
1
 
 
 
 
    1883224          F27/F27             F          274,050.00         ZZ
                                         360        273,836.21          1
    6402 VISTA CREEK LANE              7.250          1,869.51         80
                                       7.000          1,869.51      342,575.00
    N. BETHESDA      MD   20852          1            03/03/99         00
    6060066963                           03           04/01/99          0
    6060066963                           O            03/01/29
    0
 
 
    1883230          822/G01             F          630,000.00         ZZ
                                         360        630,000.00          1
    125 BOOTH LANE                     7.375          4,351.26         78
                                       7.125          4,351.26      810,000.00
    HAVERFORD        PA   19401          2            03/18/99         00
    0431278373                           05           05/01/99          0
    3626018762                           O            04/01/29
    0
 
 
    1883312          367/367             F          260,200.00         ZZ
                                         360        259,792.82          1
    6239 LAKEVIEW DRIVE                7.250          1,775.02         75
                                       7.000          1,775.02      347,000.00
    FALLS CHURCH     VA   22041          1            01/15/99         00
    579765985                            03           03/01/99          0
    579765985                            O            02/01/29
    0
 
 
    1883397          A06/G01             F          300,000.00         ZZ
                                         360        300,000.00          1
    32535 BINGHAM RD                   7.250          2,046.53         54
                                       7.000          2,046.53      565,000.00
    BINGHAM FARMS    MI   48025          1            03/10/99         00
    0431255850                           05           05/01/99          0
    001000009900576                      O            04/01/29
    0
 
 
    1883599          K09/G01             F          127,800.00         ZZ
                                         360        127,695.24          1
    1577 WEST 525 SOUTH                7.000            850.26         90
                                       6.750            850.26      142,000.00
    LEHI             UT   84043          1            02/16/99         01
    0431246495                           05           04/01/99         25
    00000                                O            03/01/29
    0
 
 
    1883694          Q25/G01             F          309,000.00         ZZ
                                         360        309,000.00          1
1
 
 
    208 W SECRETATIAT DR               7.250          2,107.92         63
                                       7.000          2,107.92      497,032.00
    TEMPE            AZ   85284          1            03/03/99         00
    0431250349                           03           05/01/99          0
    343059                               O            04/01/29
    0
 
 
    1883818          168/168             F          285,000.00         T
                                         360        284,777.68          1
    5130 JOHNSON HILL DRIVE            7.250          1,944.20         80
                                       7.000          1,944.20      357,000.00
    BRISTON          NY   14469          1            02/05/99         00
    0249348110                           05           04/01/99          0
    0249348110                           O            03/01/29
    0
 
 
    1883839          168/168             F          380,300.00         ZZ
                                         360        379,674.72          1
    7513 HONESTY WAY                   7.000          2,530.15         77
                                       6.750          2,530.15      500,000.00
    BETHESDA         MD   20817          2            01/29/99         00
    0249346184                           05           03/01/99          0
    0249346184                           O            02/01/29
    0
 
 
    1883875          K21/G01             F          397,000.00         ZZ
                                         360        397,000.00          1
    1720 HILLCREST AVE.                6.625          2,542.03         56
                                       6.375          2,542.03      710,000.00
    GLENDALE         CA   91202          2            03/03/99         00
    0431245216                           05           05/01/99          0
    9910906                              O            04/01/29
    0
 
 
    1883878          B87/G01             F          340,000.00         ZZ
                                         360        339,714.36          1
    6 BENJAMIN COURT                   6.875          2,233.56         88
                                       6.625          2,233.56      389,238.00
    WEST WINDSOR     NJ   08550          1            02/12/99         01
    0431248913                           05           04/01/99         25
    XXX                                  O            03/01/29
    0
 
 
    1883895          369/G01             F          293,050.00         ZZ
                                         360        292,568.18          1
    2929 COHO PLACE                    7.000          1,949.67         95
                                       6.750          1,949.67      308,500.00
    DAVIS            CA   95616          1            01/15/99         21
    0431236348                           03           03/01/99         30
1
 
 
    0071097968                           O            02/01/29
    0
 
 
    1884071          638/G01             F          308,000.00         ZZ
                                         360        307,753.70          1
    21767 LOS ALTOS DRIVE              7.125          2,075.05         80
                                       6.875          2,075.05      385,000.00
    PALO CEDRO       CA   96073          5            02/05/99         00
    0431232735                           05           04/01/99          0
    08805384                             O            03/01/29
    0
 
 
    1884083          638/G01             F          377,600.00         ZZ
                                         360        377,246.67          1
    7060 WYNDALE STREET                7.000          2,512.18         79
                                       6.750          2,512.18      480,000.00
    WASHINGTON       DC   20015          5            02/08/99         00
    0431233386                           05           04/01/99          0
    08838589                             O            03/01/29
    0
 
 
    1884085          P62/G01             F          297,200.00         ZZ
                                         360        296,968.15          1
    665 SOUTH SUTTON LAVE BLVD.        7.250          2,027.43         79
                                       7.000          2,027.43      377,205.00
    JORDAN           MN   55352          1            02/22/99         00
    0431261510                           05           04/01/99          0
    1751253                              O            03/01/29
    0
 
 
    1884087          N71/G01             F           93,000.00         ZZ
                                         360         93,000.00          1
    19115 N.W. 82 CIR. COURT UNIT      7.500            650.27         90
    21-R                               7.250            650.27      104,000.00
    MIAMI            FL   33015          2            03/19/99         11
    0431260918                           01           05/01/99         25
    28490299                             O            04/01/29
    0
 
 
    1884145          638/G01             F          247,900.00         ZZ
                                         360        247,696.80          1
    1241 BUCKEYE TERRACE               7.000          1,649.28         80
                                       6.750          1,649.28      309,900.00
    CLAYTON          CA   94517          1            02/11/99         00
    0431232487                           05           04/01/99          0
    08854625                             O            03/01/29
    0
 
 
1
 
 
    1884153          964/G01             F          280,000.00         ZZ
                                         360        280,000.00          1
    13844 CUMPSTON ST                  7.500          1,957.80         80
                                       7.250          1,957.80      350,000.00
    SHERMAN OAKS     CA   91411          1            03/15/99         00
    0431275775                           05           05/01/99          0
    52705                                O            04/01/29
    0
 
 
    1884154          964/G01             F          157,000.00         ZZ
                                         360        157,000.00          1
    15304 HAAS AVENUE                  7.000          1,044.53         76
                                       6.750          1,044.53      207,000.00
    GARDENA          CA   90249          2            03/19/99         00
    0431274554                           05           05/01/99          0
    52795                                O            04/01/29
    0
 
 
    1884167          F59/G01             F          538,000.00         ZZ
                                         360        538,000.00          1
    18 LINCOLN STREET                  7.250          3,670.11         63
                                       7.000          3,670.11      860,000.00
    WESTON           MA   02193          5            03/12/99         00
    0431253434                           05           05/01/99          0
    1884167                              O            04/01/29
    0
 
 
    1884359          076/076             F          351,900.00         ZZ
                                         360        350,940.45          1
    8       TALBOT RD                  6.500          2,224.25         80
                                       6.250          2,224.25      444,000.00
    HINGHAM          MA   02043          1            12/29/98         00
    1366283                              05           02/01/99          0
    1366283                              O            01/01/29
    0
 
 
    1884362          076/076             F          253,500.00         ZZ
                                         360        252,872.96          1
    59  MIDDLE POND                    7.000          1,686.55         68
                                       6.750          1,686.55      378,000.00
    MARSTONS MILLS   MA   02648          2            12/28/98         00
    1382653                              05           02/01/99          0
    1382653                              O            01/01/29
    0
 
 
    1884749          624/G01             F          500,000.00         ZZ
                                         360        500,000.00          1
    4860 LINDA VISTA                   7.000          3,326.51         80
                                       6.750          3,326.51      625,000.00
1
 
 
    NAPA             CA   94558          1            03/09/99         00
    0431255272                           05           05/01/99          0
    91001090036                          O            04/01/29
    0
 
 
    1884755          E66/E66             F          559,550.00         ZZ
                                         360        558,165.99          1
    LOTS 3 & 12 GLEN RIDGE             7.000          3,722.70         78
                                       6.750          3,722.70      720,000.00
    CHAPEL HILLS     NC   27516          2            04/02/98         00
    600393600                            05           02/01/99          0
    600393600                            O            01/01/29
    0
 
 
    1884779          M29/G01             F          306,000.00         ZZ
                                         360        306,000.00          1
    2203 BARN SWALLOW DRIVE            7.000          2,035.83         90
                                       6.750          2,035.83      340,000.00
    LONGMONT         CO   80501          2            03/09/99         04
    0431256957                           03           05/01/99         25
    1884779                              O            04/01/29
    0
 
 
    1884870          E66/E66             F          384,350.00         ZZ
                                         360        382,756.28          1
    LOT 72 SILVER CREEK                7.000          2,557.09         80
                                       6.750          2,557.09      480,438.00
    CHAPEL HILLS     NC   27514          4            10/13/98         00
    600367079                            05           12/01/98          0
    600367079                            O            11/01/28
    0
 
 
    1884950          E97/G01             F          328,000.00         ZZ
                                         360        328,000.00          1
    522 CALLE CUADRA                   7.375          2,265.41         80
                                       7.125          2,265.41      410,000.00
    SAN CLEMENTE     CA   92673          2            03/17/99         00
    0431269653                           05           05/01/99          0
    9935EB                               O            04/01/29
    0
 
 
    1885097          K21/G01             F          358,000.00         ZZ
                                         360        358,000.00          1
    29112 FIRTHRIDGE ROAD              6.875          2,351.81         62
                                       6.625          2,351.81      585,000.00
    RANCHO PALOS VE  CA   90275          2            03/11/99         00
    0431262062                           05           05/01/99          0
    9910911                              O            04/01/29
    0
1
 
 
 
 
    1885127          685/G01             F          206,400.00         ZZ
                                         360        206,230.81          1
    15 HUMMINGBIRD LANE                7.000          1,373.19         80
                                       6.750          1,373.19      258,000.00
    ALISO VIEJO ARE  CA   92656          1            02/19/99         00
    0431231638                           03           04/01/99          0
    117338                               O            03/01/29
    0
 
 
    1885133          685/G01             F          290,000.00         ZZ
                                         360        289,762.29          1
    26 AMANTES                         7.000          1,929.38         80
                                       6.750          1,929.38      362,500.00
    RANCHO SANTA MA  CA   92688          1            02/22/99         00
    0431232354                           03           04/01/99          0
    117636                               O            03/01/29
    0
 
 
    1885288          B57/G01             F          320,000.00         ZZ
                                         360        319,750.36          1
    6010 CALVIN AVENUE                 7.250          2,182.97         86
                                       7.000          2,182.97      375,000.00
    TARZANA AREA LO  CA   91356          2            02/19/99         11
    0431252733                           05           04/01/99         25
    9814434                              O            03/01/29
    0
 
 
    1885405          B79/G01             F          316,000.00         ZZ
                                         360        316,000.00          1
    2475 CRESTMOOR DRIVE               7.375          2,182.53         80
                                       7.125          2,182.53      395,000.00
    SAN BRUNO        CA   94066          1            03/15/99         00
    0431264878                           05           05/01/99          0
    019881                               O            04/01/29
    0
 
 
    1885449          E97/G01             F          253,560.00         ZZ
                                         360        253,560.00          1
    9 MONTE CARLO                      7.125          1,708.28         80
                                       6.875          1,708.28      316,950.00
    IRVINE           CA   92614          1            03/04/99         00
    0431246222                           03           05/01/99          0
    9935E1                               O            04/01/29
    0
 
 
    1885539          L73/G01             F          460,000.00         ZZ
                                         360        460,000.00          1
1
 
 
    28911 GLEN RIDGE                   7.125          3,099.11         64
                                       6.875          3,099.11      725,000.00
    MISSION VIEJO    CA   92692          2            02/22/99         00
    0431234533                           03           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1885641          H86/G01             F          350,000.00         ZZ
                                         360        349,705.96          1
    17215 QUAIL COURT                  6.875          2,299.25         73
                                       6.625          2,299.25      485,000.00
    MORGAN HILL      CA   95037          5            02/19/99         00
    0431237775                           05           04/01/99          0
    227566                               O            03/01/29
    0
 
 
    1885763          811/G01             F          223,700.00         ZZ
                                         360        223,521.11          1
    79 ARNOLD DRIVE                    7.125          1,507.11         80
                                       6.875          1,507.11      279,627.00
    NOVATO           CA   94949          1            02/22/99         00
    0431242106                           03           04/01/99          0
    FM00202863                           O            03/01/29
    0
 
 
    1885864          B91/G01             F          276,000.00         ZZ
                                         360        275,773.76          1
    282 NORTH QUAIL LANE               7.000          1,836.24         80
                                       6.750          1,836.24      345,000.00
    ORANGE           CA   92869          1            02/22/99         00
    0431250810                           05           04/01/99          0
    1000017406                           O            03/01/29
    0
 
 
    1885868          B91/G01             F          276,000.00         ZZ
                                         360        275,779.28          1
    2296 STRATFORD DRIVE               7.125          1,859.47         80
                                       6.875          1,859.47      345,000.00
    SAN JOSE         CA   95124          1            02/18/99         00
    0431250786                           05           04/01/99          0
    1000017855                           O            03/01/29
    0
 
 
    1886003          B57/G01             F          335,200.00         ZZ
                                         360        334,925.23          1
    2120 NORTH BRONSON AVENUE          7.000          2,230.10         80
                                       6.750          2,230.10      419,000.00
    LOS ANGELES      CA   90068          1            02/16/99         00
    0431248533                           05           04/01/99          0
1
 
 
    9910111                              O            03/01/29
    0
 
 
    1886367          F03/G01             F          108,000.00         ZZ
                                         360        108,000.00          1
    68765 SAN FELIPE ROAD              7.250            736.75         57
                                       7.000            736.75      190,000.00
    CATHEDRAL CITY   CA   92234          2            03/22/99         00
    0431274786                           05           05/01/99          0
    LAG11697                             O            04/01/29
    0
 
 
    1886377          F03/G01             F          214,500.00         ZZ
                                         360        214,500.00          1
    20242 BAY VIEW AVENUE              7.250          1,463.27         75
                                       7.000          1,463.27      286,000.00
    NEWPORT BEACH A  CA   92660          2            03/11/99         00
    0431264928                           05           05/01/99          0
    LAG11689                             O            04/01/29
    0
 
 
    1886425          M51/G01             F          292,800.00         ZZ
                                         360        292,800.00          1
    424 PRAIRIE AVENUE                 7.125          1,972.65         80
                                       6.875          1,972.65      366,000.00
    WILMETTE         IL   60091          1            03/01/99         00
    0431258227                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1886447          K21/G01             F          423,000.00         ZZ
                                         360        423,000.00          1
    13960 NE 31ST PLACE                6.750          2,743.57         51
                                       6.500          2,743.57      835,000.00
    BELLEVUE         WA   98005          5            03/09/99         00
    0431257245                           05           05/01/99          0
    9910938                              O            04/01/29
    0
 
 
    1886513          637/G01             F          344,000.00         ZZ
                                         360        343,731.64          1
    1582 HEMMINGWAY ROAD               7.250          2,346.69         77
                                       7.000          2,346.69      450,000.00
    SAN JOSE         CA   95132          2            02/16/99         00
    0431251107                           05           04/01/99          0
    0010961944                           O            03/01/29
    0
 
 
1
 
 
    1886529          637/G01             F          175,750.00         ZZ
                                         360        175,619.57          1
    161 YUKON COURT                    7.500          1,228.87         95
                                       7.250          1,228.87      185,000.00
    VALLEJO          CA   94589          1            02/05/99         11
    0431250091                           05           04/01/99         30
    0010960508                           O            03/01/29
    0
 
 
    1886544          B64/B64             F          312,000.00         ZZ
                                         360        312,000.00          1
    101 CHANNELHOUSE RD                6.750          2,023.63         80
                                       6.500          2,023.63      390,000.00
    NORTH WALES      PA   19454          2            02/23/99         00
    69258                                05           05/01/99          0
    69258                                O            04/01/29
    0
 
 
    1886571          811/G01             F          400,000.00         ZZ
                                         360        399,672.12          1
    3655 ST GAUDENS ROAD               7.000          2,661.21         67
                                       6.750          2,661.21      600,000.00
    MIAMIA           FL   33133          1            03/01/99         00
    0431240639                           05           04/01/99          0
    FM00118339                           O            03/01/29
    0
 
 
    1886598          356/G01             F          276,100.00         ZZ
                                         360        276,100.00          1
    5354 CASTLEFORD COURT              7.125          1,860.14         70
                                       6.875          1,860.14      395,000.00
    NEWARK           CA   94560          2            02/25/99         00
    0431239912                           05           05/01/99          0
    2744084                              O            04/01/29
    0
 
 
    1886631          731/G01             F          356,000.00         ZZ
                                         360        355,715.31          1
    15502 EAST SHORE DRIVE             7.125          2,398.44         80
                                       6.875          2,398.44      445,000.00
    LYNNWOOD         WA   98037          1            02/24/99         00
    0431251271                           05           04/01/99          0
    230237265                            O            03/01/29
    0
 
 
    1886647          637/G01             F          399,000.00         ZZ
                                         360        398,664.79          1
    41816 MISSION CIELO COURT          6.875          2,621.15         59
                                       6.625          2,621.15      680,000.00
1
 
 
    FREMONT          CA   94539          1            02/11/99         00
    0431251081                           03           04/01/99          0
    0010151785                           O            03/01/29
    0
 
 
    1886649          637/G01             F          260,000.00         ZZ
                                         360        259,797.17          1
    19 LENOX ROAD                      7.250          1,773.66         80
                                       7.000          1,773.66      325,000.00
    KENSINGTON       CA   94707          1            02/12/99         00
    0431268804                           05           04/01/99          0
    0010147130                           O            03/01/29
    0
 
 
    1886695          893/G01             F          505,000.00         ZZ
                                         360        505,000.00          1
    2310 BURNING TREE ROAD             7.250          3,445.00         70
                                       7.000          3,445.00      725,000.00
    HALF MOON BAY    CA   94019          5            03/01/99         00
    0431243211                           03           05/01/99          0
    99010776                             O            04/01/29
    0
 
 
    1886701          624/G01             F          312,000.00         ZZ
                                         360        312,000.00          1
    19 CANTERBURY LANE                 6.375          1,946.47         80
                                       6.125          1,946.47      390,000.00
    LOGAN            UT   84321          1            02/26/99         00
    0431241314                           05           05/01/99          0
    65500490023                          O            04/01/29
    0
 
 
    1886811          562/G01             F          303,000.00         ZZ
                                         360        303,000.00          1
    8 HALL AVENUE                      7.125          2,041.37         74
                                       6.875          2,041.37      415,000.00
    LARCHMONT        NY   10538          2            03/03/99         00
    0431249978                           05           05/01/99          0
    574772                               O            04/01/29
    0
 
 
    1886992          E38/G01             F          522,000.00         ZZ
                                         360        521,582.57          1
    1177 KAMEHAME DRIVE                7.125          3,516.81         78
                                       6.875          3,516.81      675,000.00
    HONOLULU         HI   96825          2            02/19/99         00
    0431250182                           03           04/01/99          0
    985818                               O            03/01/29
    0
1
 
 
 
 
    1887086          588/G01             F          278,000.00         ZZ
                                         360        277,554.06          1
    7 ALEXANDRIA ROAD                  7.125          1,872.94         80
                                       6.875          1,872.94      347,500.00
    MORRIS TOWNSHIP  NJ   07961          1            02/01/99         00
    0431263474                           05           03/01/99          0
    981201093                            O            02/01/29
    0
 
 
    1887093          822/G01             F          460,000.00         ZZ
                                         360        460,000.00          1
    320 CHESTNUT TREE ROAD             7.250          3,138.02         80
                                       7.000          3,138.02      575,000.00
    ELVERSON         PA   19520          1            03/12/99         00
    0431264480                           05           05/01/99          0
    0136102939                           O            04/01/29
    0
 
 
    1887109          757/G01             F          312,000.00         ZZ
                                         360        312,000.00          1
    1 SUMMER SWEET LANE                7.500          2,181.55         80
                                       7.250          2,181.55      390,000.00
    WEST NEWBURY     MA   01985          1            03/02/99         00
    0431242270                           05           05/01/99          0
    8286189                              O            04/01/29
    0
 
 
    1887145          E82/G01             F          509,700.00         ZZ
                                         360        509,700.00          1
    17204 RANCHO STREET                7.125          3,433.94         65
                                       6.875          3,433.94      790,000.00
    ENCINO           CA   91316          5            03/03/99         00
    0400180782                           05           05/01/99          0
    0400180782                           O            04/01/29
    0
 
 
    1887283          F96/G01             F          296,000.00         ZZ
                                         360        296,000.00          1
    19 MOUNT FREEDOM ROAD              6.500          1,870.92         70
                                       6.250          1,870.92      427,000.00
    RANDOLPH TOWNSH  NJ   07869          5            02/26/99         00
    0431242304                           05           05/01/99          0
    984446                               O            04/01/29
    0
 
 
    1887314          470/G01             F          312,550.00         ZZ
                                         360        312,550.00          1
1
 
 
    6 ROAD RUNNER COURT                7.125          2,105.71         80
                                       6.875          2,105.71      390,709.00
    TRABUCO CANYON   CA   92679          1            03/01/99         00
    0431243955                           03           05/01/99          0
    96030336                             O            04/01/29
    0
 
 
    1887337          G18/G01             F          187,000.00         ZZ
                                         360        187,000.00          1
    531 HORSESHOE DRIVE                7.500          1,307.53         68
                                       7.250          1,307.53      276,000.00
    WILLMAR          MN   56201          5            03/19/99         00
    0431276880                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1887380          E82/G01             F          226,500.00         ZZ
                                         360        226,500.00          1
    110 CUESTA REAL                    7.250          1,545.13         72
                                       7.000          1,545.13      315,000.00
    LA HONDA         CA   94020          2            03/04/99         00
    0400185807                           05           05/01/99          0
    1572608                              O            04/01/29
    0
 
 
    1887391          E82/G01             F          317,000.00         ZZ
                                         360        317,000.00          1
    11625 TIMBERLAKE DRIVE             7.125          2,135.69         80
                                       6.875          2,135.69      400,000.00
    SAN DIEGO        CA   92131          2            03/03/99         00
    0400184396                           05           05/01/99          0
    0400184396                           O            04/01/29
    0
 
 
    1887411          E82/G01             F          461,600.00         ZZ
                                         360        461,600.00          1
    3080 KINGS POINT COURT             7.125          3,109.88         80
                                       6.875          3,109.88      577,000.00
    MILFORD          MI   48189          2            03/04/99         00
    0400174090                           03           05/01/99          0
    0400174090                           O            04/01/29
    0
 
 
    1887441          893/G01             F          280,000.00         ZZ
                                         360        280,000.00          1
    67 EASTGATE DRIVE                  7.250          1,910.10         80
                                       7.000          1,910.10      350,000.00
    DALY CITY        CA   94015          1            03/01/99         00
    0431243856                           05           05/01/99          0
1
 
 
    99020783                             O            04/01/29
    0
 
 
    1887448          822/G01             F          499,990.00         ZZ
                                         360        499,990.00          1
    1201 CARRIAGE CIRCLE               6.375          3,119.29         65
                                       6.125          3,119.29      770,000.00
    LOWER GYWNEDD    PA   19002          2            02/25/99         00
    0431247329                           05           05/01/99          0
    XXX                                  O            04/01/29
    0
 
 
    1887483          Q27/G01             F          312,800.00         ZZ
                                         360        312,800.00          1
    24851 CALLE CARMEL                 7.125          2,107.40         80
                                       6.875          2,107.40      391,000.00
    LAGUNA HILLS     CA   92653          1            03/02/99         00
    0431250596                           05           05/01/99          0
    000                                  O            04/01/29
    0
 
 
    1887487          889/G01             F          296,000.00         ZZ
                                         360        295,769.09          1
    830 MARVISTA AVENUE                7.250          2,019.24         80
                                       7.000          2,019.24      370,000.00
    SEAL BEACH       CA   90740          1            02/25/99         00
    0431257690                           05           04/01/99          0
    51800863                             O            03/01/29
    0
 
 
    1887491          964/G01             F          228,000.00         ZZ
                                         360        228,000.00          1
    8839 CYNTHIA STREET #1             6.750          1,478.80         80
                                       6.500          1,478.80      285,000.00
    WEST HOLLYWOOD   CA   90069          1            02/25/99         00
    0431242494                           01           05/01/99          0
    49671                                O            04/01/29
    0
 
 
    1887500          964/G01             F          248,800.00         ZZ
                                         360        248,800.00          1
    2315 47TH AVENUE                   7.625          1,760.99         80
                                       7.375          1,760.99      311,000.00
    SAN FRANCISCO    CA   94116          1            02/26/99         00
    0431242320                           05           05/01/99          0
    51716                                O            04/01/29
    0
 
 
1
 
 
    1887506          562/562             F          295,000.00         ZZ
                                         360        295,000.00          1
    135 ONDERDONK AVENUE               6.750          1,913.37         74
                                       6.500          1,913.37      400,000.00
    MANHASSET        NY   11030          1            03/05/99         00
    590109                               05           05/01/99          0
    590109                               O            04/01/29
    0
 
 
    1887508          E60/G01             F          276,000.00         ZZ
                                         360        276,000.00          1
    272 EL DORADO WAY                  7.250          1,882.81         80
                                       7.000          1,882.81      345,000.00
    PISMO BEACH      CA   93449          1            03/01/99         00
    0431249820                           03           05/01/99          0
    511602                               O            04/01/29
    0
 
 
    1887516          E23/G01             F          124,900.00         ZZ
                                         360        124,900.00          1
    5209 SNOWDRIFT COURT               7.125            841.47         75
                                       6.875            841.47      166,585.00
    BAKERSFIELD      CA   93313          1            03/02/99         00
    0431244292                           05           05/01/99          0
    10507582                             O            04/01/29
    0
 
 
    1887519          536/536             F          650,000.00         ZZ
                                         360        649,440.36          1
    1502 UALAKAA PLACE                 6.750          4,215.89         50
                                       6.500          4,215.89    1,325,000.00
    HONOLULU         HI   96822          2            02/11/99         00
    1223734                              05           04/01/99          0
    1223734                              O            03/01/29
    0
 
 
    1887542          E82/G01             F          314,000.00         ZZ
                                         360        314,000.00          1
    650 DELANCY STREET, UNIT # 305     7.375          2,168.72         75
                                       7.125          2,168.72      420,000.00
    SAN FRANSISCO    CA   94107          2            03/04/99         00
    0400185062                           01           05/01/99          0
    0400185062                           O            04/01/29
    0
 
 
    1887557          E82/G01             F          310,000.00         ZZ
                                         360        310,000.00          1
    7446 DRAPER AVE                    6.750          2,010.65         78
                                       6.500          2,010.65      400,000.00
1
 
 
    LA JOLLA         CA   92037          2            03/04/99         00
    0400180733                           05           05/01/99          0
    1797174                              O            04/01/29
    0
 
 
    1887569          E85/G01             F          396,000.00         ZZ
                                         360        395,667.31          1
    249 KNIGHT DRIVE                   6.875          2,601.44         80
                                       6.625          2,601.44      495,000.00
    SAN RAFAEL       CA   94901          1            02/22/99         00
    0431243872                           05           04/01/99          0
    9604640                              O            03/01/29
    0
 
 
    1887571          664/G01             F          344,000.00         ZZ
                                         360        343,738.24          1
    863 NORTH HILL AVENUE              7.375          2,375.93         80
                                       7.125          2,375.93      430,000.00
    PASADENA         CA   91104          2            02/18/99         00
    0431275577                           05           04/01/99          0
    2983799                              O            03/01/29
    0
 
 
    1887574          664/G01             F          340,000.00         ZZ
                                         360        339,747.67          1
    1114 GARFIELD AVENUE               7.500          2,377.33         80
                                       7.250          2,377.33      425,000.00
    SOUTH PASADENA   CA   91104          1            02/04/99         00
    0431251255                           05           04/01/99          0
    2775815                              O            03/01/29
    0
 
 
    1887578          664/G01             F          268,500.00         ZZ
                                         360        268,274.42          1
    4001 SANTA TOMAS PLACE             6.875          1,763.86         75
                                       6.625          1,763.86      358,000.00
    NEWBURY PARK AR  CA   91320          1            02/04/99         00
    0431250471                           03           04/01/99          0
    2985174                              O            03/01/29
    0
 
 
    1887593          637/G01             F          400,000.00         ZZ
                                         360        399,687.96          1
    522 GREEN ACRES DRIVE              7.250          2,728.71         80
                                       7.000          2,728.71      500,000.00
    GARDNERVILLE     NV   89410          2            02/12/99         00
    0431253079                           05           04/01/99          0
    001097623                            O            03/01/29
    0
1
 
 
 
 
    1887644          637/G01             F          251,000.00         ZZ
                                         360        250,809.00          1
    4192 HOLLY DRIVE                   7.375          1,733.60         63
                                       7.125          1,733.60      399,000.00
    SAN JOSE         CA   95127          2            02/04/99         00
    0431251677                           05           04/01/99          0
    0010960946                           O            03/01/29
    0
 
 
    1887653          E82/G01             F          272,200.00         ZZ
                                         360        272,200.00          1
    1524 24TH AVENUUE EAST             7.125          1,833.86         80
                                       6.875          1,833.86      344,500.00
    SEATTLE          WA   98112          2            03/05/99         00
    0400185831                           05           05/01/99          0
    1611752                              O            04/01/29
    0
 
 
    1887654          637/G01             F          500,000.00         ZZ
                                         360        499,600.15          1
    7251 EMAMI COURT                   7.125          3,368.60         75
                                       6.875          3,368.60      670,000.00
    SAN JOSE         CA   95120          2            02/11/99         00
    0431251511                           05           04/01/99          0
    0015186240                           O            03/01/29
    0
 
 
    1887659          893/G01             F          240,000.00         ZZ
                                         360        239,798.37          1
    76 FOREST VIEW DRIVE               6.875          1,576.63         56
                                       6.625          1,576.63      432,500.00
    SAN FRANCISCO    CA   94132          1            02/24/99         00
    0431243864                           07           04/01/99          0
    98110416                             O            03/01/29
    0
 
 
    1887682          685/G01             F          336,000.00         ZZ
                                         360        336,000.00          1
    25225 NEW CLAY STREET              7.250          2,292.12         80
                                       7.000          2,292.12      420,000.00
    MURRIETA         CA   92564          1            03/02/99         00
    0431248483                           05           05/01/99          0
    116940                               O            04/01/29
    0
 
 
    1887734          E82/G01             F          256,000.00         ZZ
                                         360        256,000.00          1
1
 
 
    9221 TWINBERRY WAY                 7.250          1,746.37         77
                                       7.000          1,746.37      335,000.00
    GILROY           CA   95020          2            03/04/99         00
    0400182846                           05           05/01/99          0
    1558790                              O            04/01/29
    0
 
 
    1887747          964/G01             F          440,000.00         ZZ
                                         360        440,000.00          1
    40 SAN MATEO RD                    7.500          3,076.54         67
                                       7.250          3,076.54      665,000.00
    BERKELEY         CA   94707          1            03/03/99         00
    0431244391                           05           05/01/99          0
    50163                                O            04/01/29
    0
 
 
    1887773          811/G01             F          248,000.00         ZZ
                                         360        248,000.00          1
    791 WEDGEWOOD DRIVE                7.500          1,734.05         80
                                       7.250          1,734.05      310,000.00
    SAN JOSE         CA   95123          1            03/03/99         00
    0431248558                           05           05/01/99          0
    FM02208864                           O            04/01/29
    0
 
 
    1887815          811/G01             F          284,000.00         ZZ
                                         360        283,761.40          1
    17 FREDSON COURT                   6.875          1,865.68         74
                                       6.625          1,865.68      384,000.00
    NOVATO           CA   94947          1            01/28/99         00
    0431248905                           05           04/01/99          0
    FM00203444                           O            03/01/29
    0
 
 
    1887822          K59/G01             F          468,000.00         ZZ
                                         360        468,000.00          1
    19864 S. HWY 89                    7.375          3,232.36         39
                                       7.125          3,232.36    1,200,000.00
    BIRDSEYE         UT   84629          2            03/18/99         00
    0431261577                           05           05/01/99          0
    01990395                             O            04/01/29
    0
 
 
    1887825          L16/G01             F          116,300.00         ZZ
                                         360        116,300.00          1
    3578 WEST HARRISONWOOD             7.625            823.16         95
    DRIVE                              7.375            823.16      122,500.00
    SALT LAKE CITY   UT   84119          2            03/10/99         10
    0431255454                           05           05/01/99         30
1
 
 
    99020058                             O            04/01/29
    0
 
 
    1887923          638/G01             F          292,000.00         ZZ
                                         360        291,754.69          1
    2881 MANORWOOD TRAIL               6.875          1,918.23         78
                                       6.625          1,918.23      375,000.00
    FORT WORTH       TX   76109          2            02/19/99         00
    0431244755                           03           04/01/99          0
    08855543                             O            03/01/29
    0
 
 
    1887927          L81/G01             F          482,000.00         ZZ
                                         360        482,000.00          1
    1056 MADISON PLACE                 7.125          3,247.32         80
                                       6.875          3,247.32      602,500.00
    LAGUNA BEACH     CA   92651          1            03/15/99         00
    0431272855                           05           05/01/99          0
    990588                               O            04/01/29
    0
 
 
    1887928          K09/G01             F          311,100.00         ZZ
                                         360        311,100.00          1
    2199 SOUTH 1125 EAST               7.250          2,122.25         70
                                       7.000          2,122.25      450,000.00
    BOUNTIFUL        UT   84010          2            03/03/99         00
    0431244763                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1887930          638/G01             F          218,350.00         ZZ
                                         360        218,171.02          1
    8 CATHERINE STREET                 7.000          1,452.69         69
                                       6.750          1,452.69      317,000.00
    DARIEN           CT   06820          2            02/25/99         00
    0431244821                           05           04/01/99          0
    08853397                             O            03/01/29
    0
 
 
    1887933          E87/G01             F          448,800.00         ZZ
                                         360        448,422.96          1
    2920 TORITO ROAD                   6.875          2,948.29         80
                                       6.625          2,948.29      561,000.00
    SANTA BARBARA    CA   93108          1            02/19/99         00
    0431242437                           05           04/01/99          0
    70002159                             O            03/01/29
    0
 
 
1
 
 
    1887956          E26/G01             F          118,900.00         ZZ
                                         360        118,809.52          1
    2 SCHOOL HOUSE ROAD                7.375            821.22         70
                                       7.125            821.22      169,900.00
    HEREFORD         PA   18056          1            02/26/99         00
    0431247626                           05           04/01/99          0
    609000165                            O            03/01/29
    0
 
 
    1887958          731/G01             F          157,600.00         ZZ
                                         360        157,480.08          1
    3528 SUDBURY ROAD                  7.375          1,088.50         80
                                       7.125          1,088.50      197,000.00
    CAMERON PARK     CA   95682          2            02/23/99         00
    0431251263                           05           04/01/99          0
    114257690                            O            03/01/29
    0
 
 
    1887973          638/G01             F          250,200.00         ZZ
                                         360        250,014.32          1
    189 EAST SHILOH ROAD               7.500          1,749.43         74
                                       7.250          1,749.43      340,000.00
    SANTA ROSA       CA   95403          2            02/16/99         00
    0431243906                           05           04/01/99          0
    08803180                             O            03/01/29
    0
 
 
    1887977          F96/G01             F          288,000.00         ZZ
                                         300        288,000.00          1
    47 HIGHLANDER DRIVE                7.250          2,081.68         76
                                       7.000          2,081.68      380,000.00
    SCOTCH PLAINS T  NJ   07076          2            02/26/99         00
    0431245109                           05           05/01/99          0
    9900281                              O            04/01/24
    0
 
 
    1887982          638/G01             F          300,000.00         ZZ
                                         360        299,754.09          1
    3053 BOEING ROAD                   7.000          1,995.91         80
                                       6.750          1,995.91      375,000.00
    CAMERON PARK     CA   95682          1            02/25/99         00
    0431244748                           05           04/01/99          0
    08849400                             O            03/01/29
    0
 
 
    1887989          L86/G01             F          596,000.00         ZZ
                                         360        596,000.00          1
    5 BROWNSBURY ROAD                  7.375          4,116.42         80
                                       7.125          4,116.42      745,000.00
1
 
 
    LAGUNA NIGUEL    CA   92677          1            03/12/99         00
    0431260975                           03           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1887992          638/G01             F          164,000.00         ZZ
                                         360        163,865.57          1
    8011 FRONTIER DRIVE                7.000          1,091.10         80
                                       6.750          1,091.10      205,000.00
    SEVERN           MD   21144          1            02/26/99         00
    0431244730                           05           04/01/99          0
    08847399                             O            03/01/29
    0
 
 
    1888013          638/G01             F          173,000.00         ZZ
                                         360        172,854.66          1
    12441 COUNTRY LANE                 6.875          1,136.49         44
                                       6.625          1,136.49      400,000.00
    SANTA ANA        CA   92705          5            02/19/99         00
    0431245935                           05           04/01/99          0
    08853691                             O            03/01/29
    0
 
 
    1888019          893/G01             F          275,000.00         ZZ
                                         360        275,000.00          1
    107 LIVORNO WAY #204               7.500          1,922.84         70
                                       7.250          1,922.84      395,000.00
    REDWOOD CITY     CA   94065          5            03/01/99         00
    0431243823                           01           05/01/99          0
    99020806                             O            04/01/29
    0
 
 
    1888049          B57/G01             F          316,000.00         ZZ
                                         360        315,734.52          1
    1351 NEW YORK DRIVE                6.875          2,075.90         80
                                       6.625          2,075.90      395,000.00
    ALTADENA         CA   91001          1            02/23/99         00
    0431247501                           05           04/01/99          0
    9830966                              O            03/01/29
    0
 
 
    1888066          638/G01             F          352,000.00         ZZ
                                         360        351,704.28          1
    1910 PULSAR AVENUE                 6.875          2,312.39         64
                                       6.625          2,312.39      550,000.00
    LIVERMORE        CA   94550          2            02/19/99         00
    0431245828                           05           04/01/99          0
    08814270                             O            03/01/29
    0
1
 
 
 
 
    1888075          L02/G01             F          260,800.00         ZZ
                                         360        260,596.55          1
    6006 SWEETWATER COURT              7.250          1,779.12         80
                                       7.000          1,779.12      326,000.00
    FREDERICK        MD   21703          1            02/25/99         00
    0431264589                           05           04/01/99          0
    981280                               O            03/01/29
    0
 
 
    1888089          664/G01             F          215,400.00         ZZ
                                         360        215,240.14          1
    9393 HOLLISTER STREET              7.500          1,506.11         68
                                       7.250          1,506.11      320,000.00
    VENTURA          CA   93004          2            02/23/99         00
    0431252717                           05           04/01/99          0
    2902153                              O            03/01/29
    0
 
 
    1888093          664/G01             F          280,000.00         ZZ
                                         360        279,792.19          1
    1647 VANCOUVER WAY                 7.500          1,957.81         80
                                       7.250          1,957.81      350,000.00
    LIVERMORE        CA   94550          2            02/17/99         00
    0431255744                           05           04/01/99          0
    2981462                              O            03/01/29
    0
 
 
    1888103          664/G01             F          410,000.00         ZZ
                                         360        409,688.02          1
    923 PRINCETON STREET               7.375          2,831.77         66
                                       7.125          2,831.77      630,000.00
    SANTA MONICA     CA   90403          1            02/12/99         00
    0431255736                           05           04/01/99          0
    2913614                              O            03/01/29
    0
 
 
    1888126          A19/G01             F          334,000.00         ZZ
                                         360        334,000.00          1
    36 DALE STREET                     7.500          2,335.38         80
                                       7.250          2,335.38      417,500.00
    SWAMPSCOTT       MA   01907          1            03/26/99         00
    0431266295                           05           05/01/99          0
    1888126                              O            04/01/29
    0
 
 
    1888140          676/676             F          400,000.00         ZZ
                                         360        399,010.60          1
1
 
 
    2220 AHA NIU PLACE                 7.000          2,661.21         68
                                       6.750          2,661.21      590,000.00
    HONOLULU         HI   96821          2            12/16/98         00
    7801310656                           05           02/01/99          0
    7801310656                           O            01/01/29
    0
 
 
    1888142          676/676             F          382,500.00         ZZ
                                         360        381,855.47          1
    5228 APO DRIVE                     6.875          2,512.75         75
                                       6.625          2,512.75      510,000.00
    HONOLULU         HI   96821          2            01/08/99         00
    8601312132                           05           03/01/99          0
    8601312132                           O            02/01/29
    0
 
 
    1888180          588/G01             F          281,250.00         ZZ
                                         360        280,995.74          1
    36 LONG HILL LANE                  6.500          1,777.70         75
                                       6.250          1,777.70      375,000.00
    CHATHAM TOWNSHI  NJ   07928          1            02/16/99         00
    0431263052                           05           04/01/99          0
    981101124                            O            03/01/29
    0
 
 
    1888181          588/G01             F          270,000.00         ZZ
                                         360        269,577.47          1
    81 CHUCKANUTT DRIVE                7.250          1,841.88         73
                                       7.000          1,841.88      372,000.00
    OAKLAND BOROUGH  NJ   07436          1            01/29/99         00
    0431262989                           05           03/01/99          0
    981205033                            O            02/01/29
    0
 
 
    1888182          588/G01             F          308,950.00         ZZ
                                         360        308,702.93          1
    14 UNDERWOOD DRIVE                 7.125          2,081.46         90
                                       6.875          2,081.46      343,295.00
    WEST ORANGE TOW  NJ   07052          1            02/12/99         10
    0431263029                           05           04/01/99         25
    981203120                            O            03/01/29
    0
 
 
    1888183          588/G01             F          277,000.00         ZZ
                                         360        276,749.59          1
    49 MILLER AVENUE                   6.500          1,750.83         74
                                       6.250          1,750.83      377,000.00
    ROCKAWAY TOWNSH  NJ   07866          1            03/01/99         00
    0431263037                           05           04/01/99          0
1
 
 
    990101159                            O            03/01/29
    0
 
 
    1888184          588/G01             F          422,000.00         ZZ
                                         360        421,654.09          1
    523 LYDIA LANE                     7.000          2,807.58         64
                                       6.750          2,807.58      669,000.00
    WYCKOFF TOWNSHI  NJ   07481          2            02/22/99         00
    0431263060                           05           04/01/99          0
    100613                               O            03/01/29
    0
 
 
    1888186          588/G01             F          256,000.00         ZZ
                                         360        255,498.77          1
    555 EMKER TERRACE                  7.250          1,746.38         80
                                       7.000          1,746.38      320,000.00
    RIDGEWOOD VILLA  NJ   07451          1            01/26/99         00
    0431252097                           05           03/01/99          0
    980805617                            O            02/01/29
    0
 
 
    1888188          588/G01             F          277,600.00         ZZ
                                         360        277,378.00          1
    411 BERRY LANE                     7.125          1,870.25         78
                                       6.875          1,870.25      357,000.00
    TOWNSHIP OF UPP  PA   19063          1            02/19/99         00
    0431262781                           05           04/01/99          0
    981004048                            O            03/01/29
    0
 
 
    1888191          588/G01             F          290,550.00         ZZ
                                         360        290,287.33          1
    22 MONROE PLACE                    6.500          1,836.48         80
                                       6.250          1,836.48      365,000.00
    BERNARDS TOWNSH  NJ   07920          1            02/26/99         00
    0431262997                           05           04/01/99          0
    981201089                            O            03/01/29
    0
 
 
    1888197          588/G01             F          244,000.00         ZZ
                                         360        243,618.15          1
    108 EAST LINWOOD AVENUE            7.250          1,664.52         80
                                       7.000          1,664.52      305,000.00
    PARAMUS          NJ   07652          1            01/29/99         00
    0431263359                           05           03/01/99          0
    981005101                            O            02/01/29
    0
 
 
1
 
 
    1888210          H47/G01             F          483,114.00         ZZ
                                         360        481,889.38          1
    809 PONT CHARTRAIN DRIVE           6.875          3,173.72         74
                                       6.625          3,173.72      658,479.00
    LAS VEGAS        NV   89128          1            12/17/98         00
    0431245265                           03           02/01/99          0
    183                                  O            01/01/29
    0
 
 
    1888231          026/G01             F          425,000.00         ZZ
                                         360        425,000.00          1
    301 RIVERSIDE DR.                  6.750          2,756.55         80
                                       6.500          2,756.55      535,000.00
    NEWPORT NEWS     VA   23606          1            03/05/99         00
    0431244144                           05           05/01/99          0
    0200041193                           O            04/01/29
    0
 
 
    1888261          E82/G01             F          290,000.00         ZZ
                                         360        290,000.00          1
    178 MARINA VISTA AVENUE            6.750          1,880.93         77
                                       6.500          1,880.93      380,000.00
    LARKSPUR         CA   94939          2            03/05/99         00
    0400183562                           05           05/01/99          0
    0400183562                           O            04/01/29
    0
 
 
    1888265          561/561             F          190,400.00         ZZ
                                         360        190,400.00          1
    5903 GENTLE CALL                   7.125          1,282.76         80
                                       6.875          1,282.76      238,000.00
    CLARKSVILLE      MD   21029          1            03/05/99         00
    9649914                              09           05/01/99          0
    9649914                              O            04/01/29
    0
 
 
    1888358          E82/G01             F          399,000.00         ZZ
                                         360        399,000.00          1
    1788 EAST MUELLER PARK ROAD        7.125          2,688.14         89
                                       6.875          2,688.14      450,000.00
    BOUNTIFUL        UT   84010          2            03/08/99         04
    0400171542                           05           05/01/99         25
    1589175                              O            04/01/29
    0
 
 
    1888389          E48/G01             F          300,000.00         ZZ
                                         360        299,506.75          1
    493 HERON COVE ROAD                7.000          1,995.91         54
                                       6.750          1,995.91      560,000.00
1
 
 
    KILLEN           AL   35645          5            01/11/99         00
    0431248970                           05           03/01/99          0
    150054643                            O            02/01/29
    0
 
 
    1888411          J40/G01             F          276,000.00         ZZ
                                         360        275,773.77          1
    3434 DAVIS BRIDGE ROAD             7.000          1,836.23         78
                                       6.750          1,836.23      358,000.00
    GAINESVILLE      GA   30506          2            02/24/99         00
    0431245182                           05           04/01/99          0
    7629276                              O            03/01/29
    0
 
 
    1888459          B57/G01             F          214,400.00         ZZ
                                         360        214,400.00          1
    6036 LE SAGE AVENUE                7.125          1,444.46         80
                                       6.875          1,444.46      268,000.00
    LOS ANGELES      CA   91367          1            03/01/99         00
    0431249747                           05           05/01/99          0
    9910283                              O            04/01/29
    0
 
 
    1888539          195/G01             F          605,000.00         ZZ
                                         360        605,000.00          1
    129 CRESCENT AVENUE                7.000          4,025.09         55
                                       6.750          4,025.09    1,100,000.00
    BURLINGAME       CA   94010          2            02/25/99         00
    0431247147                           05           05/01/99          0
    61920                                O            04/01/29
    0
 
 
    1888558          F27/F27             F          303,750.00         ZZ
                                         360        303,160.31          1
    7904 BLUEBERRY HILL COURT          7.125          2,046.42         90
                                       6.875          2,046.42      337,500.00
    RICHMOND         VA   23229          1            01/04/99         10
    156334403                            03           03/01/99         25
    156334403                            O            02/01/29
    0
 
 
    1888588          944/G01             F          400,000.00         ZZ
                                         360        400,000.00          1
    639 DORSET WAY                     6.750          2,594.39         77
                                       6.500          2,594.39      524,000.00
    SUNNYVALE        CA   94087          1            03/03/99         00
    0431253681                           05           05/01/99          0
    990200062                            O            04/01/29
    0
1
 
 
 
 
    1888613          956/G01             F          360,000.00         ZZ
                                         360        359,704.91          1
    1915 SPYGLASS DRIVE                7.000          2,395.09         80
                                       6.750          2,395.09      450,000.00
    SAN BRUNO        CA   94066          1            02/01/99         00
    0431246024                           05           04/01/99          0
    1809010073                           O            03/01/29
    0
 
 
    1888617          893/G01             F          390,000.00         ZZ
                                         360        390,000.00          1
    323 GARCIA AVENUE                  7.000          2,594.68         73
                                       6.750          2,594.68      540,000.00
    HALF MOON BAY    CA   94019          1            03/04/99         00
    0431246875                           05           05/01/99          0
    98120626                             O            04/01/29
    0
 
 
    1888661          A06/G01             F          560,000.00         ZZ
                                         360        560,000.00          1
    990 FAIRFAX                        7.125          3,772.82         63
                                       6.875          3,772.82      900,000.00
    BIRMINGHAM       MI   48009          5            03/26/99         00
    0431275551                           05           05/01/99          0
    9902234                              O            04/01/29
    0
 
 
    1888691          L84/G01             F          190,000.00         ZZ
                                         360        190,000.00          1
    3456 SAINT ELIZABETH ROAD          6.875          1,248.16         48
                                       6.625          1,248.16      396,000.00
    GLENDALE         CA   91206          2            03/18/99         00
    0431278480                           05           05/01/99          0
    99030                                O            04/01/29
    0
 
 
    1888695          K21/G01             F          303,000.00         ZZ
                                         360        303,000.00          1
    1371 INVERNESS                     7.000          2,015.87         51
    DRIVE                              6.750          2,015.87      600,000.00
    PASADENA         CA   91103          2            03/11/99         00
    0431265875                           05           05/01/99          0
    9910950                              O            04/01/29
    0
 
 
    1888713          588/G01             F          319,500.00         ZZ
                                         360        318,920.77          1
1
 
 
    28 RANKIN AVENUE                   6.500          2,019.46         90
                                       6.250          2,019.46      355,000.00
    BERNARDS TOWNSH  NJ   07920          1            01/28/99         10
    0431262906                           05           03/01/99         25
    981001036                            O            02/01/29
    0
 
 
    1888715          588/G01             F          400,000.00         ZZ
                                         360        399,342.33          1
    20 BIRCH LANE                      7.000          2,661.21         74
                                       6.750          2,661.21      545,000.00
    MAMARONECK TOWN  NY   10538          1            01/22/99         00
    0431263284                           05           03/01/99          0
    981002096                            O            02/01/29
    0
 
 
    1888718          588/G01             F          315,000.00         ZZ
                                         360        314,748.09          1
    2 OLD QUARRY ROAD                  7.125          2,122.22         76
                                       6.875          2,122.22      415,000.00
    ENGLEWOOD CITY   NJ   07631          1            02/03/99         00
    0431262963                           01           04/01/99          0
    981105588                            O            03/01/29
    0
 
 
    1888719          588/G01             F          286,400.00         ZZ
                                         360        285,576.84          1
    5 JASPER JOHNS                     6.500          1,810.25         80
                                       6.250          1,810.25      358,000.00
    EVESHAM TOWNSHI  NJ   08053          1            01/28/99         00
    0431263375                           03           03/01/99          0
    980823026                            O            02/01/29
    0
 
 
    1888720          588/G01             F          259,200.00         ZZ
                                         360        258,987.53          1
    211 GREEN STREET                   7.000          1,724.47         80
                                       6.750          1,724.47      324,000.00
    ALEXANDRIA       VA   22314          1            02/24/99         00
    0431263011                           05           04/01/99          0
    990207008                            O            03/01/29
    0
 
 
    1888722          588/G01             F          312,000.00         ZZ
                                         360        311,499.50          1
    29 HARTLEY ROAD                    7.125          2,102.01         80
                                       6.875          2,102.01      390,000.00
    SUMMIT CITY      NJ   07901          1            01/28/99         00
    0431263425                           05           03/01/99          0
1
 
 
    981001113                            O            02/01/29
    0
 
 
    1888741          588/G01             F          294,400.00         ZZ
                                         360        293,866.28          1
    105 PULASKI ROAD                   6.500          1,860.81         80
                                       6.250          1,860.81      368,000.00
    READINGTON TOWN  NJ   08889          1            02/26/99         00
    0431263441                           05           03/01/99          0
    981103278                            O            02/01/29
    0
 
 
    1888743          588/G01             F          300,000.00         ZZ
                                         360        299,754.09          1
    41 COPPERGATE DRIVE                7.000          1,995.91         73
                                       6.750          1,995.91      415,000.00
    BERNARDS TOWNSH  NJ   07920          5            02/18/99         00
    0431262773                           05           04/01/99          0
    990101140                            O            03/01/29
    0
 
 
    1888744          588/G01             F          276,000.00         ZZ
                                         360        275,578.67          1
    4 QUEEN ANNE COURT                 7.375          1,906.27         80
                                       7.125          1,906.27      345,000.00
    WASHINGTON TOWN  NJ   07853          1            01/15/99         00
    0431263318                           05           03/01/99          0
    981101141                            O            02/01/29
    0
 
 
    1888746          665/G01             F          257,000.00         ZZ
                                         360        256,784.09          1
    4060 CREST ROAD                    6.875          1,688.31         59
                                       6.625          1,688.31      440,000.00
    PEBBLE BEACH     CA   93953          2            02/18/99         00
    0431246909                           05           04/01/99          0
    9901228225                           O            03/01/29
    0
 
 
    1888747          588/G01             F          311,000.00         ZZ
                                         360        310,745.07          1
    75 HILLSIDE AVENUE                 7.000          2,069.10         80
                                       6.750          2,069.10      389,000.00
    CHATHAM BOROUGH  NJ   07928          1            03/01/99         00
    0431262807                           05           04/01/99          0
    981101088                            O            03/01/29
    0
 
 
1
 
 
    1888781          E87/G01             F          495,000.00         ZZ
                                         360        494,604.15          1
    2880 BASELINE AVENUE               7.125          3,334.91         64
                                       6.875          3,334.91      780,000.00
    SANTA YNEZ       CA   93460          2            02/18/99         00
    0431253152                           05           04/01/99          0
    70002138                             O            03/01/29
    0
 
 
    1888793          964/G01             F          322,500.00         ZZ
                                         360        322,500.00          1
    16316 EAST MCGILL ROAD             7.250          2,200.02         75
                                       7.000          2,200.02      430,000.00
    LA MIRADA        CA   90638          2            03/01/99         00
    0431246156                           03           05/01/99          0
    50081                                O            04/01/29
    0
 
 
    1888797          B57/G01             F          276,000.00         ZZ
                                         360        276,000.00          1
    5300 WINNETKA AVENUE               7.125          1,859.46         69
                                       6.875          1,859.46      400,000.00
    LOS ANGELES      CA   91364          2            03/04/99         00
    0431254275                           05           05/01/99          0
    9910052                              O            04/01/29
    0
 
 
    1888808          E82/G01             F          393,000.00         ZZ
                                         360        393,000.00          1
    515 PINEY CREEK ROAD               7.000          2,614.64         88
                                       6.750          2,614.64      450,000.00
    RENO             NV   89511          2            03/05/99         04
    0431244961                           03           05/01/99         25
    0400169157                           O            04/01/29
    0
 
 
    1888817          811/G01             F          650,000.00         ZZ
                                         360        650,000.00          1
    1990 PEAR DRIVE                    7.375          4,489.39         75
                                       7.125          4,489.39      877,000.00
    MORGAN HILL      CA   95037          5            03/01/99         00
    0431245794                           05           05/01/99          0
    FM02209105                           O            04/01/29
    0
 
 
    1888835          E33/G01             F          508,000.00         ZZ
                                         360        508,000.00          1
    881 TIMBER LANE                    7.125          3,422.50         80
                                       6.875          3,422.50      635,000.00
1
 
 
    LAKE FOREST      IL   60045          2            03/08/99         00
    0431259332                           05           05/01/99          0
    279748390                            O            04/01/29
    0
 
 
    1888837          B57/G01             F          100,000.00         ZZ
                                         360        100,000.00          1
    5843 ETIWANDA AVENUE               7.250            682.18         75
                                       7.000            682.18      134,990.00
    LOS ANGELES      CA   91356          1            03/03/99         00
    0431258904                           01           05/01/99          0
    9910373                              O            04/01/29
    0
 
 
    1888847          026/G01             F          350,000.00         ZZ
                                         360        350,000.00          1
    612 BLAIR POINT ROAD               6.750          2,270.10         35
                                       6.500          2,270.10    1,000,000.00
    MOREHEAD CITY    NC   28557          2            03/08/99         00
    0431245208                           05           05/01/99          0
    0200375865                           O            04/01/29
    0
 
 
    1888861          808/G01             F          312,300.00         ZZ
                                         360        311,823.26          1
    6524 UNIVERSITY WAY                7.375          2,156.98         90
                                       7.125          2,156.98      347,190.00
    BUENA PARK       CA   90620          1            01/07/99         19
    0431254176                           03           03/01/99         25
    9308875                              O            02/01/29
    0
 
 
    1888865          893/G01             F          260,000.00         ZZ
                                         360        260,000.00          1
    111 GREENWOOD AVENUE               7.375          1,795.76         80
                                       7.125          1,795.76      325,000.00
    SOUTH SAN FRANC  CA   94080          1            03/05/99         00
    0431249150                           05           05/01/99          0
    98120487                             O            04/01/29
    0
 
 
    1888870          944/G01             F          277,500.00         ZZ
                                         360        277,500.00          1
    2885 NEW JERSEY AVENUE             7.375          1,916.62         75
                                       7.125          1,916.62      370,000.00
    SAN JOSE         CA   95124          5            03/01/99         00
    0431253707                           05           05/01/99          0
    17187                                O            04/01/29
    0
1
 
 
 
 
    1888871          B64/G01             F          281,950.00         ZZ
                                         360        281,740.75          1
    636 DRIFTWOOD DRIVE                7.500          1,971.44         95
                                       7.250          1,971.44      296,800.00
    GREER            SC   29651          1            02/25/99         14
    0431248954                           03           04/01/99         30
    00065925                             O            03/01/29
    0
 
 
    1888872          944/G01             F          332,000.00         ZZ
                                         360        331,721.08          1
    4124 FEAFEL DRIVE                  6.875          2,181.00         80
                                       6.625          2,181.00      415,000.00
    SAN JOSE         CA   95134          1            02/24/99         00
    0431248004                           05           04/01/99          0
    1272                                 O            03/01/29
    0
 
 
    1888884          B27/G01             F          320,000.00         ZZ
                                         360        320,000.00          1
    198 HIGH STREET                    6.875          2,102.18         80
                                       6.625          2,102.18      400,000.00
    ACTON            MA   01720          2            03/05/99         00
    0431249796                           05           05/01/99          0
    000                                  O            04/01/29
    0
 
 
    1888895          956/G01             F          396,000.00         ZZ
                                         360        395,698.68          1
    2000 LAWNDALE ROAD                 7.375          2,735.07         80
                                       7.125          2,735.07      495,000.00
    KENWOOD          CA   95452          1            02/03/99         00
    0431252741                           05           04/01/99          0
    809010599                            O            03/01/29
    0
 
 
    1889049          E82/G01             F          555,000.00         ZZ
                                         360        555,000.00          1
    15126 ENCANTO DRIVE                6.875          3,645.95         80
                                       6.625          3,645.95      695,000.00
    SHERMAN OAKS     CA   91403          2            03/09/99         00
    0400184735                           05           05/01/99          0
    1736135                              O            04/01/29
    0
 
 
    1889077          956/G01             F          424,000.00         ZZ
                                         360        423,652.45          1
1
 
 
    505 LAURENT ROAD                   7.000          2,820.88         41
                                       6.750          2,820.88    1,050,000.00
    HILLSBOROUGH     CA   94010          2            02/08/99         00
    0431250554                           05           04/01/99          0
    1809010064                           O            03/01/29
    0
 
 
    1889131          E26/G01             F          282,000.00         ZZ
                                         360        281,774.49          1
    15 SAUCITO                         7.125          1,899.89         63
                                       6.875          1,899.89      452,000.00
    FOOTHILL RANCH   CA   92610          1            02/17/99         00
    0431250851                           03           04/01/99          0
    34900383                             O            03/01/29
    0
 
 
    1889162          822/G01             F          517,500.00         ZZ
                                         360        517,500.00          1
    2101 COUNTRY VIEW LANE             7.125          3,486.50         75
                                       6.875          3,486.50      690,000.00
    WORCESTER        PA   19446          2            03/02/99         00
    0431245232                           05           05/01/99          0
    0136102667                           O            04/01/29
    0
 
 
    1889163          225/225             F          132,750.00         ZZ
                                         360        132,750.00          1
    26425 BROOKFIELD ROAD              7.250            905.59         75
                                       7.000            905.59      177,000.00
    SAN JUAN CAPIST  CA   92675          2            02/23/99         00
    7110974                              09           05/01/99          0
    7110974                              O            04/01/29
    0
 
 
    1889164          Q27/G01             F          172,500.00         ZZ
                                         360        172,500.00          1
    855 MASTERSON DRIVE                7.375          1,191.42         75
                                       7.125          1,191.42      230,000.00
    THOUSAND OAKS    CA   91360          1            03/02/99         00
    0431264951                           05           05/01/99          0
    1000017971                           O            04/01/29
    0
 
 
    1889234          638/G01             F          208,400.00         ZZ
                                         360        208,245.34          1
    103 EAST MONTOGOMERY STREET        7.500          1,457.16         80
                                       7.250          1,457.16      260,500.00
    BALTIMORE        MD   21230          1            02/26/99         00
    0431250729                           07           04/01/99          0
1
 
 
    08840852                             O            03/01/29
    0
 
 
    1889241          L13/G01             F          314,000.00         ZZ
                                         360        314,000.00          1
    3790 SUGAR LEO ROAD                7.000          2,089.05         67
                                       6.750          2,089.05      475,000.00
    SAINT GEORGE     UT   84790          2            03/23/99         00
    0431274471                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1889316          L16/G01             F          102,600.00         ZZ
                                         360        102,600.00          1
    5520 WEST HENLEY DRIVE             7.625            726.20         90
                                       7.375            726.20      114,000.00
    KEARNS           UT   84118          2            03/15/99         10
    0431260710                           05           05/01/99         25
    99020062                             O            04/01/29
    0
 
 
    1889604          B65/G01             F          630,000.00         ZZ
                                         360        630,000.00          1
    5 CABLEKNOLL LANE                  7.000          4,191.41         60
                                       6.750          4,191.41    1,050,000.00
    MORELAND HILLS   OH   44022          2            03/10/99         00
    0431258623                           05           05/01/99          0
    00                                   O            04/01/29
    0
 
 
    1889691          E82/G01             F          311,400.00         ZZ
                                         360        311,400.00          1
    9910 RUE BIARRITZ                  7.250          2,124.30         63
                                       7.000          2,124.30      495,000.00
    SAN DIEGO        CA   92131          2            03/08/99         00
    0400188116                           03           05/01/99          0
    0400188116                           O            04/01/29
    0
 
 
    1889715          B57/G01             F          380,000.00         ZZ
                                         360        380,000.00          1
    3823 CODY ROAD                     7.125          2,560.14         80
                                       6.875          2,560.14      475,000.00
    LOS ANGELES      CA   91403          1            03/01/99         00
    0431249648                           05           05/01/99          0
    9814827                              O            04/01/29
    0
 
 
1
 
 
    1889783          588/G01             F          172,800.00         ZZ
                                         360        172,522.80          1
    32 LAUREL PLACE                    7.125          1,164.19         80
                                       6.875          1,164.19      216,000.00
    FANWOOD BOROUGH  NJ   07023          1            02/01/99         00
    0431263482                           05           03/01/99          0
    981001178                            O            02/01/29
    0
 
 
    1889788          588/G01             F          325,000.00         ZZ
                                         360        324,465.63          1
    27 STACEY COURT                    7.000          2,162.24         69
                                       6.750          2,162.24      475,000.00
    LONG HILL TOWNS  NJ   07946          2            02/01/99         00
    0431263466                           05           03/01/99          0
    990101031                            O            02/01/29
    0
 
 
    1889792          588/G01             F          184,000.00         ZZ
                                         360        183,697.46          1
    2404 MUMFORD DRIVE                 7.000          1,224.16         80
                                       6.750          1,224.16      230,000.00
    SILVER SPRINGS   MD   20906          1            01/26/99         00
    0431263458                           05           03/01/99          0
    981207022                            O            02/01/29
    0
 
 
    1889809          E45/E45             F          300,000.00         ZZ
                                         360        299,275.99          1
    1 NW COPEN DRIVE                   7.125          2,021.16         75
                                       6.875          2,021.16      400,000.00
    LAWTON           OK   73505          5            12/31/98         00
    46862                                03           02/01/99          0
    46862                                O            01/01/29
    0
 
 
    1889813          026/G01             F          395,550.00         ZZ
                                         360        395,550.00          1
    4104 CRICKET LN                    7.000          2,631.61         59
                                       6.750          2,631.61      680,000.00
    DURHAM           NC   27707          5            03/05/99         00
    0431247303                           05           05/01/99          0
    0200345923                           O            04/01/29
    0
 
 
    1889836          E45/E45             F          249,600.00         ZZ
                                         360        249,199.61          1
    6895 SW 18 TERRACE RD              7.125          1,681.60         58
                                       6.875          1,681.60      432,000.00
1
 
 
    OCALA            FL   34474          2            02/05/99         00
    46415                                05           03/01/99          0
    46415                                O            02/01/29
    0
 
 
    1889844          E45/G01             F          250,000.00         ZZ
                                         360        249,588.95          1
    1497 DAVIS MILL ROAD               7.000          1,663.26         79
                                       6.750          1,663.26      319,000.00
    DALLAS           GA   30132          2            01/21/99         00
    0431250497                           05           03/01/99          0
    43747                                O            02/01/29
    0
 
 
    1889853          624/G01             F          345,000.00         ZZ
                                         360        345,000.00          1
    1468 LESHER COURT                  6.750          2,237.66         70
                                       6.500          2,237.66      495,000.00
    SAN JOSE         CA   95125          1            02/24/99         00
    0431255975                           05           05/01/99          0
    46000680106                          O            04/01/29
    0
 
 
    1889868          685/G01             F          272,000.00         ZZ
                                         360        272,000.00          1
    607 16TH STREET                    7.125          1,832.52         80
                                       6.875          1,832.52      340,000.00
    HUNTINGTON BEAC  CA   92648          1            03/08/99         00
    0431247527                           05           05/01/99          0
    117421                               O            04/01/29
    0
 
 
    1889876          G81/G01             F           97,550.00         ZZ
                                         360         97,550.00          1
    7947 N W 190 TERRACE               7.250            665.46         93
                                       7.000            665.46      106,000.00
    MIAMI            FL   33015          2            03/04/99         14
    0431251560                           03           05/01/99         30
    21902037                             O            04/01/29
    0
 
 
    1889882          562/562             F          228,000.00         ZZ
                                         360        228,000.00          1
    1 WASHINGTON DRIVE                 7.625          1,613.77         75
                                       7.375          1,613.77      304,000.00
    HAMPTON BAYS     NY   11946          1            03/10/99         00
    594986                               05           05/01/99          0
    594986                               O            04/01/29
    0
1
 
 
 
 
    1889909          B60/G01             F          280,000.00         ZZ
                                         360        279,764.77          1
    8 SHEA RIDGE                       6.875          1,839.40         66
                                       6.625          1,839.40      429,790.00
    LAS FLORES       CA   92688          1            02/04/99         00
    0431249671                           03           04/01/99          0
    263518                               O            03/01/29
    0
 
 
    1889925          A35/G01             F          368,000.00         ZZ
                                         360        367,424.11          1
    212 DESERT VIEW STREET             7.250          2,510.41         80
                                       7.000          2,510.41      460,000.00
    LAS VEGAS        NV   89107          1            01/28/99         00
    0431258938                           05           03/01/99          0
    3267                                 O            02/01/29
    0
 
 
    1889931          E82/G01             F          187,000.00         ZZ
                                         360        187,000.00          1
    932 ARBOR GREEN                    7.375          1,291.56         79
                                       7.125          1,291.56      237,000.00
    ST. CHARLES      MO   63304          1            03/15/99         00
    0400183125                           03           05/01/99          0
    0400183125                           O            04/01/29
    0
 
 
    1889948          966/G01             F          536,000.00         ZZ
                                         360        535,581.87          1
    54 MASLAND CIRCLE                  7.250          3,656.46         72
                                       7.000          3,656.46      750,000.00
    DALLAS           TX   75230          1            02/26/99         00
    0431256254                           03           04/01/99          0
    22008580                             O            03/01/29
    0
 
 
    1889955          E82/G01             F          402,000.00         ZZ
                                         360        402,000.00          1
    115 COTTAGE STREET                 7.000          2,674.51         72
    UNIT # 1                           6.750          2,674.51      560,000.00
    NEVADA CITY      CA   95959          2            03/10/99         00
    0400182788                           05           05/01/99          0
    0400182788                           O            04/01/29
    0
 
 
    1889961          664/G01             F          348,800.00         ZZ
                                         360        348,514.10          1
1
 
 
    16949 HIAWATHA STREET              7.000          2,320.57         80
                                       6.750          2,320.57      436,000.00
    CHATSWORTH       CA   91311          1            02/02/99         00
    0431255041                           05           04/01/99          0
    2983708                              O            03/01/29
    0
 
 
    1889963          F26/G01             F          352,000.00         ZZ
                                         360        351,711.47          1
    4744 BROWNS POINT BLVD NE          7.000          2,341.86         80
                                       6.750          2,341.86      440,000.00
    TACOMA           WA   98422          1            02/24/99         00
    0431247998                           05           04/01/99          0
    7142600607                           O            03/01/29
    0
 
 
    1889967          F19/G01             F          288,000.00         ZZ
                                         360        287,745.90          1
    128 CLARK AVENUE                   6.625          1,844.10         70
                                       6.375          1,844.10      415,000.00
    SANTA CRUZ       CA   95060          2            02/26/99         00
    0431249887                           05           04/01/99          0
    342854                               O            03/01/29
    0
 
 
    1889983          387/G01             F          156,750.00         ZZ
                                         360        156,627.72          1
    1629 SWALLOW WAY                   7.250          1,069.31         75
                                       7.000          1,069.31      209,000.00
    HERCULES         CA   94547          1            02/04/99         00
    0431249986                           05           04/01/99          0
    0001613207                           O            03/01/29
    0
 
 
    1889994          956/G01             F          300,000.00         ZZ
                                         360        299,765.97          1
    10522 NE 118TH LANE                7.250          2,046.53         78
                                       7.000          2,046.53      385,000.00
    KIRKLAND         WA   98034          2            02/17/99         00
    0431276724                           05           04/01/99          0
    09020049                             O            03/01/29
    0
 
 
    1889997          M46/G01             F          296,850.00         ZZ
                                         360        296,850.00          1
    415 THISTLE COURT                  7.625          2,101.09         90
                                       7.375          2,101.09      329,879.00
    SOUTHLAKE        TX   76092          1            03/09/99         10
    0431264381                           05           05/01/99         25
1
 
 
    7320405                              O            04/01/29
    0
 
 
    1890004          956/G01             F          285,000.00         ZZ
                                         360        285,000.00          1
    6 EAST LONE HOLLOW DRIVE           7.375          1,968.42         75
                                       7.125          1,968.42      380,000.00
    SANDY            UT   84092          5            03/02/99         00
    0431276583                           05           05/01/99          0
    2209020386                           O            04/01/29
    0
 
 
    1890011          956/G01             F          374,000.00         ZZ
                                         360        373,700.92          1
    6911 VERDE RIDGE ROAD              7.125          2,519.71         61
                                       6.875          2,519.71      620,000.00
    RANCHO PALOS VE  CA   90275          2            02/17/99         00
    0431276740                           05           04/01/99          0
    109020176                            O            03/01/29
    0
 
 
    1890014          K56/G01             F          265,500.00         ZZ
                                         360        265,297.98          1
    191 STATE ROAD                     7.375          1,833.74         90
                                       7.125          1,833.74      295,000.00
    MOSIER           OR   97040          1            02/25/99         21
    0431253566                           05           04/01/99         25
    T1050059                             O            03/01/29
    0
 
 
    1890015          593/593             F          105,000.00         ZZ
                                         360        104,198.09          1
    784 NORTH 350 WEST                 7.500            734.18         80
                                       7.250            734.18      132,000.00
    SPRINGVILLE      UT   84663          2            06/02/98         00
    0006683247                           05           07/01/98          0
    0006683247                           O            06/01/28
    0
 
 
    1890023          593/593             F          352,000.00         ZZ
                                         360        347,618.40          1
    954 EAST EAGLE WAY                 7.500          2,461.24         80
                                       7.250          2,461.24      440,000.00
    NORTH SALT LAKE  UT   84054          2            11/06/97         00
    0006184709                           03           01/01/98          0
    0006184709                           O            12/01/27
    0
 
 
1
 
 
    1890066          M79/G01             F          290,000.00         ZZ
                                         360        290,000.00          1
    1725 OAK AVENUE                    7.125          1,953.78         70
                                       6.875          1,953.78      420,000.00
    MANHATTAN BEACH  CA   90266          2            03/03/99         00
    0431247949                           05           05/01/99          0
    620383                               O            04/01/29
    0
 
 
    1890095          E33/G01             F          497,300.00         ZZ
                                         360        497,300.00          1
    200 ARBOR COURT                    7.000          3,308.55         64
                                       6.750          3,308.55      780,000.00
    LAKE BLUFF       IL   60044          2            03/09/99         00
    0431255660                           05           05/01/99          0
    353481460                            O            04/01/29
    0
 
 
    1890170          M01/G01             F          316,000.00         ZZ
                                         360        316,000.00          1
    5928 GLENDOWER LANE                6.875          2,075.90         79
                                       6.625          2,075.90      400,000.00
    PLANO            TX   75093          1            03/11/99         00
    0431250356                           03           05/01/99          0
    00                                   O            04/01/29
    0
 
 
    1890200          M29/G01             F          440,000.00         ZZ
                                         360        439,639.33          1
    5790 SOUTH ASH STREET              7.000          2,927.34         37
                                       6.750          2,927.34    1,200,000.00
    LITTLETON        CO   80121          5            03/04/99         00
    0431253921                           05           04/01/99          0
    0000                                 O            03/01/29
    0
 
 
    1890229          E82/G01             F          324,500.00         ZZ
                                         360        324,500.00          1
    1779 POPPY COURT                   7.125          2,186.22         75
                                       6.875          2,186.22      435,000.00
    LAFAYETTE        CO   80026          2            03/08/99         00
    0400189437                           03           05/01/99          0
    1615875                              O            04/01/29
    0
 
 
    1890232          E82/G01             F          348,700.00         ZZ
                                         360        348,700.00          1
    10541 CYPRESS COURT                6.875          2,290.71         66
                                       6.625          2,290.71      535,000.00
1
 
 
    CUPERTINO        CA   95014          2            03/05/99         00
    0400182887                           05           05/01/99          0
    1768240                              O            04/01/29
    0
 
 
    1890242          638/G01             F          189,600.00         ZZ
                                         360        189,444.59          1
    4064 LINCOLN AVENUE                7.000          1,261.41         80
                                       6.750          1,261.41      237,000.00
    CULVER CITY      CA   90232          1            02/19/99         00
    0431250513                           05           04/01/99          0
    8851443                              O            03/01/29
    0
 
 
    1890257          638/G01             F          369,000.00         ZZ
                                         360        368,719.22          1
    43865 CAMERON HILLS DRIVE          7.375          2,548.59         61
                                       7.125          2,548.59      610,000.00
    FREMONT          CA   94539          2            02/22/99         00
    0431250448                           03           04/01/99          0
    08853025                             O            03/01/29
    0
 
 
    1890264          638/G01             F          432,000.00         ZZ
                                         360        431,654.54          1
    6314 SOUTH VINECREST DRIVE         7.125          2,910.46         80
                                       6.875          2,910.46      540,000.00
    SALT LAKE CITY   UT   84121          2            03/01/99         00
    0431250240                           05           04/01/99          0
    8859318                              O            03/01/29
    0
 
 
    1890282          026/G01             F          400,000.00         ZZ
                                         360        400,000.00          1
    35641 DUNTHORPE LANE               7.125          2,694.88         73
                                       6.875          2,694.88      550,000.00
    PURCELLVILLE     VA   20132          5            03/08/99         00
    0431249119                           03           05/01/99          0
    0200103121                           O            04/01/29
    0
 
 
    1890287          026/G01             F          305,000.00         ZZ
                                         360        305,000.00          1
    1416 DELLWOOD DR                   7.125          2,054.85         54
                                       6.875          2,054.85      570,000.00
    RALEIGH          NC   27607          2            03/05/99         00
    0431247428                           05           05/01/99          0
    0200361597                           O            04/01/29
    0
1
 
 
 
 
    1890319          685/G01             F          392,700.00         ZZ
                                         360        392,700.00          1
    5152 OUTRIGGER WAY                 7.250          2,678.91         75
                                       7.000          2,678.91      525,000.00
    OXNARD           CA   93035          5            03/05/99         00
    0431251743                           05           05/01/99          0
    117604                               O            04/01/29
    0
 
 
    1890340          811/G01             F          283,200.00         ZZ
                                         360        283,200.00          1
    5628 CONISTON WAY                  7.375          1,955.99         80
                                       7.125          1,955.99      354,000.00
    SAN JOSE         CA   95118          1            03/03/99         00
    0431248053                           05           05/01/99          0
    FM02208113                           O            04/01/29
    0
 
 
    1890343          811/G01             F          249,600.00         ZZ
                                         360        249,600.00          1
    465 NAVARO WAY #119                7.250          1,702.71         80
                                       7.000          1,702.71      312,000.00
    SAN JOSE         CA   95134          1            03/08/99         00
    0431249804                           01           05/01/99          0
    FM02209495                           O            04/01/29
    0
 
 
    1890353          920/G01             F          285,000.00         ZZ
                                         360        285,000.00          1
    268 SMITH ROAD                     7.500          1,992.76         62
                                       7.250          1,992.76      460,000.00
    ALAMO            CA   94507          5            03/08/99         00
    0431258524                           05           05/01/99          0
    000                                  O            04/01/29
    0
 
 
    1890357          225/225             F          599,200.00         ZZ
                                         360        598,238.79          1
    135 LOMA METISSE STREET            7.125          4,036.93         80
                                       6.875          4,036.93      750,000.00
    MALIBU AREA      CA   90265          1            01/12/99         00
    7104281                              05           03/01/99          0
    7104281                              O            02/01/29
    0
 
 
    1890365          A50/A50             F           96,850.00         ZZ
                                         360         96,690.76          1
1
 
 
    4749 LAWHORN ROAD                  7.000            644.35         69
                                       6.750            644.35      141,000.00
    THOMASVILLE      GA   31757          2            01/22/99         00
    120117                               05           03/01/99          0
    120117                               O            02/01/29
    0
 
 
    1890367          E33/G01             F          998,000.00         ZZ
                                         360        998,000.00          1
    891 WALDEN LANE                    7.250          6,808.12         48
                                       7.000          6,808.12    2,100,000.00
    LAKE FOREST      IL   60045          2            03/09/99         00
    0431257336                           05           05/01/99          0
    35466336                             O            04/01/29
    0
 
 
    1890368          757/G01             F          367,500.00         ZZ
                                         240        367,500.00          1
    902 PRAIRIE LAWN ROAD              7.250          2,904.64         75
                                       7.000          2,904.64      490,000.00
    GLENVIEW         IL   60025          2            03/05/99         00
    0431252212                           05           05/01/99          0
    8259673                              O            04/01/19
    0
 
 
    1890372          A50/A50             F          295,000.00         ZZ
                                         360        294,758.19          1
    4378 CAPTAINS WAY                  7.000          1,962.64         67
                                       6.750          1,962.64      445,000.00
    FERNANDINA BEAC  FL   32034          2            02/15/99         00
    120013                               03           04/01/99          0
    120013                               O            03/01/29
    0
 
 
    1890373          E33/G01             F          460,000.00         ZZ
                                         360        460,000.00          1
    60 GREENWICH COURT                 7.125          3,099.11         80
                                       6.875          3,099.11      575,000.00
    LAKE BLUFF       IL   60044          1            03/15/99         00
    0431257955                           03           05/01/99          0
    143525170                            O            04/01/29
    0
 
 
    1890374          811/G01             F           84,000.00         ZZ
                                         360         84,000.00          1
    2302 WOODLAKE DRIVE                7.250            573.05         80
                                       7.000            573.05      105,000.00
    SANTA ROSA       CA   95405          1            03/04/99         00
    0431256387                           01           05/01/99          0
1
 
 
    FM02500030                           O            04/01/29
    0
 
 
    1890387          765/G01             F          560,000.00         ZZ
                                         360        560,000.00          1
    3032 CAPRI LANE                    7.000          3,725.70         80
                                       6.750          3,725.70      700,000.00
    COSTA MESA       CA   92626          2            03/01/99         00
    0431248855                           05           05/01/99          0
    144897                               O            04/01/29
    0
 
 
    1890394          Q61/G01             F          265,000.00         ZZ
                                         360        265,000.00          1
    2799 ARAGON WAY                    6.875          1,740.86         63
                                       6.625          1,740.86      421,000.00
    SAN JOSE         CA   95125          1            03/18/99         00
    0431273622                           05           05/01/99          0
    98120701                             O            04/01/29
    0
 
 
    1890397          B57/G01             F           95,000.00         ZZ
                                         360         95,000.00          1
    3928 BOYCE AVENUE                  6.875            624.09         47
                                       6.625            624.09      205,000.00
    LOS ANGELES      CA   90039          5            03/05/99         00
    0431258672                           05           05/01/99          0
    9920213                              O            04/01/29
    0
 
 
    1890413          956/G01             F          430,000.00         ZZ
                                         360        429,664.56          1
    519 DE CARLI COURT                 7.250          2,933.36         66
                                       7.000          2,933.36      655,000.00
    CAMPBELL         CA   95008          5            02/02/99         00
    0431276617                           05           04/01/99          0
    708100125                            O            03/01/29
    0
 
 
    1890416          731/G01             F          123,200.00         ZZ
                                         360        123,108.57          1
    13867 MIDGROVE COURT               7.500            861.43         80
                                       7.250            861.43      154,000.00
    POWAY            CA   92064          2            02/23/99         00
    0431247899                           05           04/01/99          0
    612513735                            O            03/01/29
    0
 
 
1
 
 
    1890419          956/G01             F          314,400.00         ZZ
                                         360        314,135.87          1
    703 LAREDO CIRCLE                  6.875          2,065.38         80
                                       6.625          2,065.38      393,000.00
    ALLEN            TX   75013          1            02/19/99         00
    0431250208                           03           04/01/99          0
    1609020149                           O            03/01/29
    0
 
 
    1890423          956/G01             F          354,000.00         ZZ
                                         360        353,716.92          1
    1328 VANCOUVER AVENUE              7.125          2,384.96         45
                                       6.875          2,384.96      800,000.00
    BURLINGAME       CA   94010          2            02/15/99         00
    0431276765                           05           04/01/99          0
    109020180                            O            03/01/29
    0
 
 
    1890426          956/G01             F          280,000.00         ZZ
                                         360        279,764.77          1
    1856 BORDA WAY                     6.875          1,839.40         78
                                       6.625          1,839.40      360,000.00
    GARDNERVILLE     NV   89410          1            02/11/99         00
    0431250331                           05           04/01/99          0
    309020008                            O            03/01/29
    0
 
 
    1890431          E82/G01             F          417,300.00         ZZ
                                         360        417,300.00          1
    39 PHEASANT RUN DRIVE              7.250          2,846.72         64
                                       7.000          2,846.72      655,000.00
    BASKING RIDGE    NJ   07920          2            03/11/99         00
    0400184610                           05           05/01/99          0
    1533478                              O            04/01/29
    0
 
 
    1890433          956/G01             F          585,000.00         ZZ
                                         360        585,000.00          1
    14338 GLEN ACRES ROAD SOUTHWES     7.000          3,892.02         75
                                       6.750          3,892.02      780,000.00
    VASHON           WA   98070          1            03/01/99         00
    0431250042                           05           05/01/99          0
    1409020371                           O            04/01/29
    0
 
 
    1890441          E82/G01             F          275,000.00         ZZ
                                         360        275,000.00          1
    20697 EAST SANTIAGO CANYON RD      6.875          1,806.55         67
                                       6.625          1,806.55      412,000.00
1
 
 
    ORANGE           CA   92869          2            03/11/99         00
    0400187498                           05           05/01/99          0
    1625772                              O            04/01/29
    0
 
 
    1890451          B75/G01             F          275,000.00         ZZ
                                         360        273,660.75          1
    59-075 PUKEA ROAD                  7.125          1,852.73         70
                                       6.875          1,852.73      395,000.00
    HALEIWA          HI   96712          2            09/18/98         00
    0431265743                           05           11/01/98          0
    6021059                              O            10/01/28
    0
 
 
    1890478          F96/G01             F          296,000.00         ZZ
                                         360        296,000.00          1
    789 DEMARRAIS PLACE                7.250          2,019.24         66
                                       7.000          2,019.24      455,000.00
    BOROUGH OF ORAD  NJ   07649          5            03/08/99         00
    0431248301                           05           05/01/99          0
    984088                               O            04/01/29
    0
 
 
    1890487          944/G01             F          312,000.00         ZZ
                                         360        312,000.00          1
    436 SANTA MESA DRIVE               7.125          2,102.00         80
                                       6.875          2,102.00      390,000.00
    SAN JOSE         CA   95123          1            03/04/99         00
    0431252170                           05           05/01/99          0
    17221                                O            04/01/29
    0
 
 
    1890522          731/G01             F          280,650.00         ZZ
                                         360        280,431.06          1
    717 VININGS ESTATES DRIVE          7.250          1,914.53         80
                                       7.000          1,914.53      350,866.00
    SMYRNA           GA   30126          1            03/04/99         00
    0431265149                           03           04/01/99          0
    3140871079                           O            03/01/29
    0
 
 
    1890531          B75/G01             F           75,700.00         ZZ
                                         360         75,642.40          1
    6018 MITCHELL STREET               7.375            522.84         95
                                       7.125            522.84       80,000.00
    FLOWERY BRANCH   GA   30542          2            02/22/99         01
    0431250745                           05           04/01/99         30
    6470124                              O            03/01/29
    0
1
 
 
 
 
    1890570          638/G01             F          296,000.00         ZZ
                                         360        295,763.29          1
    1035 HUDSON COURT                  7.125          1,994.21         73
                                       6.875          1,994.21      410,000.00
    BARTLETT         IL   60103          2            02/23/99         00
    0431250612                           05           04/01/99          0
    8852180                              O            03/01/29
    0
 
 
    1890655          E82/G01             F          600,500.00         ZZ
                                         360        600,500.00          1
    110 INDIAN SPRINGS ROAD            7.000          3,995.14         80
                                       6.750          3,995.14      752,207.00
    MEDIA            PA   19063          2            03/11/99         00
    0400187290                           05           05/01/99          0
    1606738                              O            04/01/29
    0
 
 
    1890656          601/G01             F          211,600.00         ZZ
                                         360        211,434.93          1
    2161 CLEARVIEW DRIVE               7.250          1,443.49         80
                                       7.000          1,443.49      264,591.00
    HOLLISTER        CA   95023          1            02/10/99         00
    0431254085                           05           04/01/99          0
    6001994                              O            03/01/29
    0
 
 
    1890666          601/G01             F          192,000.00         ZZ
                                         360        191,857.50          1
    3339 HOLLY DR                      7.500          1,342.50         80
                                       7.250          1,342.50      240,000.00
    SAN JOSE         CA   95127          2            01/25/99         00
    0431261080                           05           04/01/99          0
    60014438                             O            03/01/29
    0
 
 
    1890674          808/G01             F          295,000.00         ZZ
                                         360        294,233.73          1
    6675 BRET HARTE DRIVE              6.750          1,913.37         67
                                       6.500          1,913.37      445,000.00
    SAN JOSE         CA   95120          1            12/29/98         00
    0431263417                           05           02/01/99          0
    9412103                              O            01/01/29
    0
 
 
    1890678          808/G01             F          356,000.00         ZZ
                                         360        355,722.28          1
1
 
 
    166-168 NORTH MANSFIELD AVENUE     7.250          2,428.55         63
                                       7.000          2,428.55      565,000.00
    LOS ANGELES      CA   90036          2            02/20/99         00
    0431263383                           05           04/01/99          0
    9500055                              O            03/01/29
    0
 
 
    1890686          808/G01             F          272,000.00         ZZ
                                         360        271,798.13          1
    1616 FALLING STAR LANE             7.500          1,901.87         80
                                       7.250          1,901.87      340,000.00
    CHINO HILLS      CA   91709          2            02/12/99         00
    0431254846                           05           04/01/99          0
    9309240                              O            03/01/29
    0
 
 
    1890761          638/G01             F          256,000.00         ZZ
                                         360        255,800.30          1
    1096 EAST 50 SOUTH                 7.250          1,746.37         80
                                       7.000          1,746.37      320,000.00
    OREM             UT   84097          2            02/25/99         00
    0431253087                           05           04/01/99          0
    08859404                             O            03/01/29
    0
 
 
    1890788          638/G01             F          103,900.00         ZZ
                                         360        103,822.90          1
    197 EAST 100 SOUTH                 7.500            726.48         64
                                       7.250            726.48      163,000.00
    CEDAR FORT       UT   84013          2            02/25/99         00
    0431253103                           05           04/01/99          0
    08858806                             O            03/01/29
    0
 
 
    1890806          M29/G01             F          251,250.00         ZZ
                                         360        251,058.81          1
    5850 CANYON TRAIL                  7.375          1,735.33         75
                                       7.125          1,735.33      335,000.00
    ELIZABETH        CO   80107          5            03/05/99         00
    0431265966                           05           04/01/99          0
    0337656                              O            03/01/29
    0
 
 
    1890826          E82/G01             F          326,000.00         ZZ
                                         360        326,000.00          1
    16 CORFU                           7.125          2,196.32         62
                                       6.875          2,196.32      530,000.00
    LAGUNA NIGUEL    CA   92677          5            03/12/99         00
    0400187233                           03           05/01/99          0
1
 
 
    0400187233                           O            04/01/29
    0
 
 
    1890836          356/G01             F          316,000.00         ZZ
                                         360        316,000.00          1
    3 NORTH VIEW WAY                   7.375          2,182.54         80
                                       7.125          2,182.54      397,500.00
    REDWOOD CITY     CA   94062          1            03/09/99         00
    0431249200                           05           05/01/99          0
    2738227                              O            04/01/29
    0
 
 
    1890847          685/G01             F          144,800.00         ZZ
                                         360        144,689.82          1
    3166 NUTMEG DRIVE                  7.375          1,000.10         80
                                       7.125          1,000.10      181,000.00
    CORONA           CA   91720          2            02/22/99         00
    0431252394                           05           04/01/99          0
    117417                               O            03/01/29
    0
 
 
    1890855          L86/G01             F          150,000.00         ZZ
                                         360        150,000.00          1
    34085 LINDA ROSEA ROAD             7.375          1,036.01         38
                                       7.125          1,036.01      400,000.00
    TEMECULA         CA   92592          4            03/09/99         00
    0431257427                           05           05/01/99          0
    02800094                             O            04/01/29
    0
 
 
    1890868          811/G01             F          202,400.00         ZZ
                                         360        202,400.00          1
    3098 CAMEROSA CIRCLE               7.500          1,415.21         80
                                       7.250          1,415.21      253,000.00
    CAMERON PARK     CA   95682          1            03/08/99         00
    0431252857                           05           05/01/99          0
    FM00203669                           O            04/01/29
    0
 
 
    1890877          830/G01             F          440,100.00         ZZ
                                         360        440,100.00          1
    6125 NORTH ELK RIDGE RD            7.250          3,002.26         71
                                       7.000          3,002.26      627,000.00
    PEOA             UT   84061          2            03/12/99         00
    0431258391                           05           05/01/99          0
    535565                               O            04/01/29
    0
 
 
1
 
 
    1890878          709/G01             F          143,000.00         ZZ
                                         360        142,893.87          1
    9813 TEHAMA COURT                  7.500            999.88         74
                                       7.250            999.88      195,000.00
    LAS VEGAS        NV   89117          2            02/22/99         00
    0431252642                           03           04/01/99          0
    429902                               O            03/01/29
    0
 
 
    1890886          624/G01             F          330,000.00         ZZ
                                         360        330,000.00          1
    1145 EL SOLYO HEIGHTS DRIVE        7.500          2,307.41         75
                                       7.250          2,307.41      440,000.00
    FELTON           CA   95018          5            03/03/99         00
    0431249903                           05           05/01/99          0
    46000790026                          O            04/01/29
    0
 
 
    1890917          F27/F27             F          375,000.00         ZZ
                                         360        374,700.12          1
    8902 BOND COURT                    7.125          2,526.44         79
                                       6.875          2,526.44      475,000.00
    MANASSAS         VA   20110          1            02/01/99         00
    6060041111                           05           04/01/99          0
    6060041111                           O            03/01/29
    0
 
 
    1890926          A50/A50             F          252,000.00         ZZ
                                         360        251,793.44          1
    8220 MIDLAND ROAD                  7.000          1,676.56         80
                                       6.750          1,676.56      315,000.00
    MIDLAND          GA   31820          4            02/22/99         00
    120280                               05           04/01/99          0
    120280                               O            03/01/29
    0
 
 
    1890930          B75/G01             F          326,400.00         ZZ
                                         360        326,157.76          1
    3044 NORTH 80TH STREET             7.500          2,282.24         80
                                       7.250          2,282.24      408,000.00
    MESA             AZ   85207          5            02/17/99         00
    0431260447                           05           04/01/99          0
    6407340                              O            03/01/29
    0
 
 
    1890986          B60/G01             F          262,000.00         ZZ
                                         360        262,000.00          1
    26561 ROYALE DRIVE                 7.750          1,877.00         53
                                       7.500          1,877.00      500,000.00
1
 
 
    SAN JUAN CAPIST  CA   92675          2            02/26/99         00
    0431254416                           05           05/01/99          0
    266248                               O            04/01/29
    0
 
 
    1891004          664/G01             F          330,000.00         ZZ
                                         360        329,722.77          1
    64545 COLLINS ROAD                 6.875          2,167.86         47
                                       6.625          2,167.86      710,000.00
    BEND             OR   97701          5            02/17/99         00
    0431251586                           05           04/01/99          0
    2928349                              O            03/01/29
    0
 
 
    1891026          E23/G01             F          185,000.00         ZZ
                                         360        185,000.00          1
    18035 SENCILLO DRIVE               7.500          1,293.55         72
                                       7.250          1,293.55      260,000.00
    SAN DIEGO        CA   92128          1            03/11/99         00
    0431258326                           03           05/01/99          0
    10507847                             O            04/01/29
    0
 
 
    1891066          E45/G01             F          300,000.00         ZZ
                                         360        299,765.97          1
    2829 NE 32ND STREET                7.250          2,046.53         45
                                       7.000          2,046.53      675,000.00
    LIGHTHOUSE POIN  FL   33064          5            02/26/99         00
    0431251602                           05           04/01/99          0
    48902                                O            03/01/29
    0
 
 
    1891110          B64/B64             F          316,800.00         ZZ
                                         360        316,800.00          1
    1705 N CLYBOURN AVE                6.625          2,028.51         80
                                       6.375          2,028.51      396,000.00
    CHICAGO          IL   60614          1            03/16/99         00
    00069522                             01           05/01/99          0
    00069522                             O            04/01/29
    0
 
 
    1891167          F88/G01             F          210,000.00         ZZ
                                         360        210,000.00          1
    1515 ZACHARY COURT                 7.125          1,414.81         75
                                       6.875          1,414.81      280,000.00
    BREA             CA   92821          1            03/08/99         00
    0431257567                           03           05/01/99          0
    29902062                             O            04/01/29
    0
1
 
 
 
 
    1891172          K56/G01             F          360,000.00         ZZ
                                         360        360,000.00          1
    3717 SCOTT ROAD                    6.875          2,364.94         69
                                       6.625          2,364.94      525,000.00
    HOOD RIVER       OR   97031          2            03/01/99         00
    0431249580                           05           05/01/99          0
    1060055                              O            04/01/29
    0
 
 
    1891173          G81/G01             F          150,000.00         ZZ
                                         360        150,000.00          1
    11980 SW 112 AVENUE                7.500          1,048.82         75
                                       7.250          1,048.82      200,000.00
    MIAMI            FL   33176          5            03/05/99         00
    0431251354                           05           05/01/99          0
    021902111                            O            04/01/29
    0
 
 
    1891248          638/G01             F          431,400.00         ZZ
                                         360        431,046.39          1
    212 EARECKSON LANE                 7.000          2,870.11         79
                                       6.750          2,870.11      550,000.00
    STEVENSVILLE     MD   21666          2            03/03/99         00
    0431252899                           05           04/01/99          0
    08854514                             O            03/01/29
    0
 
 
    1891253          638/G01             F          300,000.00         ZZ
                                         360        299,754.09          1
    136 SOUTH LA PEER DRIVE            7.000          1,995.91         80
                                       6.750          1,995.91      377,000.00
    LOS ANGELES      CA   90048          1            02/23/99         00
    0431253236                           05           04/01/99          0
    08855828                             O            03/01/29
    0
 
 
    1891256          638/G01             F          352,450.00         ZZ
                                         360        352,450.00          1
    19106 GARDEN VALLEY WAY            7.625          2,494.62         75
                                       7.375          2,494.62      469,940.00
    SALINAS          CA   93908          1            03/03/99         00
    0431253061                           03           05/01/99          0
    08853631                             O            04/01/29
    0
 
 
    1891258          638/G01             F          286,000.00         ZZ
                                         360        285,782.38          1
1
 
 
    19282 SIERRA PERLA ROAD            7.375          1,975.33         63
                                       7.125          1,975.33      457,000.00
    IRVINE           CA   92612          2            02/23/99         00
    0431253335                           03           04/01/99          0
    08855164                             O            03/01/29
    0
 
 
    1891259          638/G01             F           78,000.00         ZZ
                                         360         77,940.64          1
    10911 BLUFFSIDE DRIVE #11          7.375            538.73         57
                                       7.125            538.73      138,000.00
    STUDIO CITY ARE  CA   91604          1            02/24/99         00
    0431253590                           01           04/01/99          0
    08858070                             O            03/01/29
    0
 
 
    1891262          638/G01             F           73,600.00         ZZ
                                         360         73,546.73          1
    521 MAJORCA COURT                  7.625            520.94         80
                                       7.375            520.94       92,000.00
    SATELLITE BEACH  FL   32937          1            03/02/99         00
    0431253699                           09           04/01/99          0
    08859510                             O            03/01/29
    0
 
 
    1891264          638/G01             F          310,000.00         ZZ
                                         360        310,000.00          1
    89 OAKLAND AVENUE                  7.125          2,088.53         73
                                       6.875          2,088.53      425,000.00
    ARLINGTON        MA   02474          2            03/04/99         00
    0431253186                           05           05/01/99          0
    08851089                             O            04/01/29
    0
 
 
    1891266          638/G01             F          256,000.00         ZZ
                                         360        256,000.00          1
    18 WATKINS WAY                     7.125          1,724.72         68
                                       6.875          1,724.72      378,000.00
    MIDDLETON        MA   01949          2            03/05/99         00
    0431253137                           05           05/01/99          0
    08850480                             O            04/01/29
    0
 
 
    1891267          638/G01             F          348,000.00         ZZ
                                         360        348,000.00          1
    3618 NORTH LITTLEROCK DRIVE        7.375          2,403.55         80
                                       7.125          2,403.55      435,000.00
    PROVO            UT   84604          2            03/04/99         00
    0431251396                           03           05/01/99          0
1
 
 
    08852083                             O            04/01/29
    0
 
 
    1891269          638/G01             F          504,000.00         ZZ
                                         360        504,000.00          1
    3045 COUNTRY CLUB DRIVE            7.000          3,353.12         79
                                       6.750          3,353.12      640,000.00
    GLENDALE         CA   91208          2            03/01/99         00
    0431251388                           05           05/01/99          0
    08843020                             O            04/01/29
    0
 
 
    1891273          638/G01             F          239,200.00         ZZ
                                         360        239,200.00          1
    733 SAN ARDO COURT                 7.250          1,631.77         80
                                       7.000          1,631.77      299,000.00
    CONCORD          CA   94518          1            03/01/99         00
    0431251362                           05           05/01/99          0
    08838351                             O            04/01/29
    0
 
 
    1891283          638/G01             F          168,000.00         ZZ
                                         360        167,862.29          1
    5778 WATERCREST DRIVE              7.000          1,117.71         74
                                       6.750          1,117.71      230,000.00
    BONITA           CA   91902          2            02/22/99         00
    0431253954                           05           04/01/99          0
    08852732                             O            03/01/29
    0
 
 
    1891308          E82/G01             F          289,000.00         ZZ
                                         360        289,000.00          1
    29702 AVANTE                       7.125          1,947.05         68
                                       6.875          1,947.05      431,000.00
    LAGUNA NIGUEL    CA   92677          2            03/12/99         00
    0400181384                           03           05/01/99          0
    0400181384                           O            04/01/29
    0
 
 
    1891313          E82/G01             F          290,000.00         ZZ
                                         360        290,000.00          1
    32 LAUREL WOOD DRIVE               7.125          1,953.78         70
                                       6.875          1,953.78      416,000.00
    LAWRENCEVILLE    NJ   08648          2            03/08/99         00
    0400170395                           05           05/01/99          0
    0400170395                           O            04/01/29
    0
 
 
1
 
 
    1891316          664/G01             F          296,250.00         ZZ
                                         360        296,013.09          1
    459 NORTH CRESCENT HEIGHTS         7.125          1,995.89         75
    BOULEVARD                          6.875          1,995.89      395,000.00
    LOS ANGELES      CA   90048          1            02/09/99         00
    0431263524                           05           04/01/99          0
    2959286                              O            03/01/29
    0
 
 
    1891317          E82/G01             F          296,400.00         ZZ
                                         360        296,400.00          1
    13 JOHNS COURT                     7.125          1,996.90         76
                                       6.875          1,996.90      395,000.00
    PLEASANT HILL    CA   94523          2            03/12/99         00
    0400181970                           05           05/01/99          0
    1637431                              O            04/01/29
    0
 
 
    1891327          E82/G01             F          307,000.00         ZZ
                                         360        307,000.00          1
    4101 EMPIS STREET                  7.250          2,094.28         69
                                       7.000          2,094.28      450,000.00
    WOODLAND HILLS   CA   91364          2            03/11/99         00
    0400188546                           05           05/01/99          0
    1495832                              O            04/01/29
    0
 
 
    1891333          K45/G01             F          400,000.00         ZZ
                                         360        400,000.00          1
    220 CRESTWOOD EAST                 7.125          2,694.87         68
                                       6.875          2,694.87      588,800.00
    PRESCOTT         AZ   86303          4            03/19/99         00
    0431275544                           03           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1891355          111/111             F          380,175.00         ZZ
                                         360        380,175.00          1
    14136 ANDY PLACE                   7.375          2,625.77         80
                                       7.125          2,625.77      480,000.00
    RIVERSIDE        CA   92508          1            03/04/99         00
    831281                               05           05/01/99          0
    831281                               O            04/01/29
    0
 
 
    1891364          811/G01             F          246,500.00         ZZ
                                         360        246,500.00          1
    2366 LA MESA DRIVE                 7.625          1,744.71         95
                                       7.375          1,744.71      259,498.00
1
 
 
    TRACY            CA   95376          1            03/12/99         19
    0431260991                           05           05/01/99         30
    FM02104540                           O            04/01/29
    0
 
 
    1891374          685/G01             F          176,000.00         ZZ
                                         360        176,000.00          1
    28613 APRICOT PLACE                7.625          1,245.72         80
                                       7.375          1,245.72      220,000.00
    SAUGUS AREA      CA   91350          2            03/05/99         00
    0431253855                           05           05/01/99          0
    117699                               O            04/01/29
    0
 
 
    1891375          685/G01             F          500,000.00         ZZ
                                         360        500,000.00          1
    20743 ROCKPOINT ROAD               7.250          3,410.89         65
                                       7.000          3,410.89      779,000.00
    MALIBU           CA   90265          1            03/10/99         00
    0431253392                           05           05/01/99          0
    117838                               O            04/01/29
    0
 
 
    1891391          E82/G01             F          391,600.00         ZZ
                                         360        391,600.00          1
    247 LITTLE NECK ROAD               7.125          2,638.28         47
                                       6.875          2,638.28      850,000.00
    CANTERPORT       NY   11721          2            03/05/99         00
    0400172466                           05           05/01/99          0
    1891391                              O            04/01/29
    0
 
 
    1891396          964/G01             F           54,800.00         ZZ
                                         360         54,800.00          1
    1214 EAST WALNUT AVENUE #A         7.375            378.49         80
                                       7.125            378.49       68,500.00
    LOMPOC           CA   93436          1            03/08/99         00
    0431251735                           01           05/01/99          0
    53154                                O            04/01/29
    0
 
 
    1891402          964/G01             F          391,200.00         ZZ
                                         360        391,200.00          1
    42229 CAMINO SANTA BARBARA         7.500          2,735.33         80
                                       7.250          2,735.33      489,000.00
    FREMONT          CA   94539          1            03/04/99         00
    0431252436                           05           05/01/99          0
    51908                                O            04/01/29
    0
1
 
 
 
 
    1891404          964/G01             F          378,500.00         ZZ
                                         360        378,204.73          1
    3307 ROYAL MEADOW LANE             7.250          2,582.04         65
                                       7.000          2,582.04      590,000.00
    SAN JOSE         CA   95135          2            02/24/99         00
    0431256924                           05           04/01/99          0
    51471                                O            03/01/29
    0
 
 
    1891405          964/G01             F          368,100.00         ZZ
                                         360        368,100.00          1
    1305 HARKNESS STREET               7.000          2,448.98         90
                                       6.750          2,448.98      409,000.00
    MANHATTAN BEACH  CA   90266          1            03/20/99         04
    0431251990                           05           05/01/99         25
    52973                                O            04/01/29
    0
 
 
    1891440          420/G01             F          300,600.00         ZZ
                                         360        300,365.50          1
    15230 DAYTON COURT                 7.250          2,050.63         90
                                       7.000          2,050.63      334,000.00
    SAN LEANDRO      CA   94579          1            02/25/99         11
    0431251610                           05           04/01/99         25
    0000407684                           O            03/01/29
    0
 
 
    1891444          420/G01             F          170,000.00         ZZ
                                         360        169,870.64          1
    58 FLORA STREET                    7.375          1,174.15         83
                                       7.125          1,174.15      205,000.00
    SAN FRANCISCO    CA   94124          2            02/10/99         11
    0431251644                           05           04/01/99         12
    0000404053                           O            03/01/29
    0
 
 
    1891457          573/G01             F          363,600.00         ZZ
                                         360        363,330.15          1
    14195 ANDY PLACE                   7.500          2,542.35         80
                                       7.250          2,542.35      454,548.00
    RIVERSIDE        CA   92508          1            02/24/99         00
    0431256049                           05           04/01/99          0
    137877                               O            03/01/29
    0
 
 
    1891476          956/G01             F          296,000.00         ZZ
                                         360        295,774.77          1
1
 
 
    1653 GRAND AVENUE                  7.375          2,044.40         59
                                       7.125          2,044.40      510,000.00
    PIEDMONT         CA   94611          5            02/16/99         00
    0431254614                           05           04/01/99          0
    709020010                            O            03/01/29
    0
 
 
    1891477          956/G01             F          295,500.00         ZZ
                                         360        295,500.00          1
    3232 COBBLESTONE DRIVE             7.250          2,015.83         76
                                       7.000          2,015.83      390,000.00
    SANTA ROSA       CA   95404          2            03/05/99         00
    0431254655                           03           05/01/99          0
    809020949                            O            04/01/29
    0
 
 
    1891479          956/G01             F          537,500.00         ZZ
                                         360        537,500.00          1
    40835 244TH AVENUE SE              7.250          3,666.70         68
                                       7.000          3,666.70      800,000.00
    ENUMCLAW         WA   98022          2            03/04/99         00
    0431251719                           05           05/01/99          0
    109020128                            O            04/01/29
    0
 
 
    1891482          956/G01             F          330,500.00         ZZ
                                         360        330,248.52          1
    6930 SAN FELIPE ROAD               7.375          2,282.68         73
                                       7.125          2,282.68      455,000.00
    HOLLISTER        CA   95023          2            02/05/99         00
    0431254580                           05           04/01/99          0
    200090813                            O            03/01/29
    0
 
 
    1891485          F27/F27             F          366,200.00         ZZ
                                         360        365,914.33          1
    2407 SHREVE HILL ROAD              7.250          2,498.13         80
                                       7.000          2,498.13      457,750.00
    DUNN LORING      VA   22027          1            02/26/99         00
    6060071606                           03           04/01/99          0
    6060071606                           O            03/01/29
    0
 
 
    1891493          593/593             F          290,400.00         ZZ
                                         360        290,400.00          1
    1676 ASHLAND COURT NW              7.375          2,005.73         80
                                       7.125          2,005.73      363,000.00
    SALEM            OR   97304          1            03/04/99         00
    0007243454                           03           05/01/99          0
1
 
 
    0007243454                           O            04/01/29
    0
 
 
    1891495          665/G01             F          500,000.00         ZZ
                                         360        499,628.93          1
    960 CUMBERLAND COURT               7.500          3,496.07         80
                                       7.250          3,496.07      625,000.00
    FOSTER CITY      CA   94404          1            02/26/99         00
    0431252469                           05           04/01/99          0
    9901228371                           O            03/01/29
    0
 
 
    1891499          144/144             F          236,500.00         ZZ
                                         360        236,315.60          1
    296 RIDGEWAY                       7.250          1,613.35         42
                                       7.000          1,613.35      570,000.00
    WHITE PLAINS     NY   10605          2            02/17/99         00
    160637330                            05           04/01/99          0
    160637330                            O            03/01/29
    0
 
 
    1891501          665/G01             F          416,000.00         ZZ
                                         360        416,000.00          1
    91 ELDORA DRIVE                    7.125          2,802.67         80
                                       6.875          2,802.67      520,000.00
    MOUNTAIN VIEW    CA   94041          1            03/02/99         00
    0431251818                           05           05/01/99          0
    9901228451                           O            04/01/29
    0
 
 
    1891506          144/144             F          100,000.00         ZZ
                                         360        100,000.00          1
    87 YERRY HILL ROAD                 7.250            682.18         70
                                       7.000            682.18      144,320.00
    WOODSTOCK        NY   12498          1            03/04/99         00
    160637868                            05           05/01/99          0
    160637868                            O            04/01/29
    0
 
 
    1891515          144/144             F          143,000.00         ZZ
                                         360        142,888.45          1
    240 RTE 375 WEST HURLEY            7.250            975.51         74
                                       7.000            975.51      195,000.00
    ULSTER           NY   12491          2            02/24/99         00
    160637595                            05           04/01/99          0
    160637595                            O            03/01/29
    0
 
 
1
 
 
    1891518          944/G01             F          300,000.00         ZZ
                                         360        300,000.00          1
    5079 MAITLAND DRIVE                6.875          1,970.79         68
                                       6.625          1,970.79      443,000.00
    SAN JOSE         CA   95124          5            03/09/99         00
    0431253905                           05           05/01/99          0
    990300034                            O            04/01/29
    0
 
 
    1891522          944/G01             F          288,750.00         ZZ
                                         360        288,750.00          1
    4469 FARAONE COURT                 7.000          1,921.06         75
                                       6.750          1,921.06      385,000.00
    SAN JOSE         CA   95136          5            03/09/99         00
    0431253012                           05           05/01/99          0
    990200162                            O            04/01/29
    0
 
 
    1891532          944/G01             F          363,000.00         ZZ
                                         360        362,723.79          1
    926 IVY GLEN DRIVE                 7.375          2,507.15         80
                                       7.125          2,507.15      453,800.00
    SAN JOSE         CA   95133          1            02/23/99         00
    0431268366                           05           04/01/99          0
    990200065                            O            03/01/29
    0
 
 
    1891580          757/G01             F          447,900.00         ZZ
                                         360        447,900.00          1
    2764 LONG GROVE DRIVE              6.750          2,905.08         80
                                       6.500          2,905.08      559,900.00
    MARIETTA         GA   30062          1            03/15/99         00
    0431255009                           03           05/01/99          0
    8406571                              O            04/01/29
    0
 
 
    1891602          757/G01             F          340,000.00         ZZ
                                         360        340,000.00          1
    505 PALM HARBOR ROAD               7.000          2,262.03         80
                                       6.750          2,262.03      425,000.00
    SIMONS ISLAND    GA   31522          2            03/16/99         00
    0431256452                           03           05/01/99          0
    8426330                              O            04/01/29
    0
 
 
    1891666          664/G01             F          337,000.00         ZZ
                                         360        336,743.57          1
    14 DEER FOREST DRIVE               7.375          2,327.58         63
                                       7.125          2,327.58      535,000.00
1
 
 
    MONTEREY         CA   93940          2            02/18/99         00
    0431262369                           05           04/01/99          0
    2922003                              O            03/01/29
    0
 
 
    1891684          B60/G01             F          319,200.00         ZZ
                                         360        319,200.00          1
    6212 BERQUIST AVENUE               7.000          2,123.64         80
                                       6.750          2,123.64      399,000.00
    WOODLAND HILLS   CA   91364          1            02/26/99         00
    0431254184                           05           05/01/99          0
    266091                               O            04/01/29
    0
 
 
    1891716          111/111             F          390,500.00         ZZ
                                         360        390,202.86          1
    8 PIEDMONT                         7.375          2,697.09         80
                                       7.125          2,697.09      490,000.00
    DOVE CANYON      CA   92679          2            02/11/99         00
    802046                               03           04/01/99          0
    802046                               O            03/01/29
    0
 
 
    1891724          562/G01             F          277,500.00         ZZ
                                         360        277,500.00          1
    36 ROGER DRIVE                     7.250          1,893.04         75
                                       7.000          1,893.04      370,000.00
    PORT WASHINGTON  NY   11050          5            03/16/99         00
    0431256205                           05           05/01/99          0
    578179                               O            04/01/29
    0
 
 
    1891732          601/G01             F          185,500.00         ZZ
                                         360        185,372.33          1
    722 SAN TOMAS ST                   7.875          1,345.01         70
                                       7.625          1,345.01      265,000.00
    SUNNYVALE        CA   94086          1            02/17/99         00
    0431254093                           05           04/01/99          0
    60015815                             O            03/01/29
    0
 
 
    1891743          601/G01             F          559,000.00         ZZ
                                         360        558,167.69          1
    2091 HUNTINGTON LN                 7.500          3,908.61         70
                                       7.250          3,908.61      799,000.00
    LOS ALTOS        CA   94024          1            01/14/99         00
    0431274208                           05           03/01/99          0
    60015294                             O            02/01/29
    0
1
 
 
 
 
    1891746          B23/G01             F          130,000.00         ZZ
                                         360        130,000.00          1
    6939 ETHEL AVENUE                  7.500            908.98         71
    NORTH HOLLYWOOD AREA               7.250            908.98      185,000.00
    LOS ANGELES      CA   91605          1            03/25/99         00
    0431275338                           05           05/01/99          0
    88003405                             O            04/01/29
    0
 
 
    1891747          601/G01             F          280,000.00         ZZ
                                         360        278,342.27          1
    2971 OAKMONT DRIVE                 7.625          1,981.82         78
                                       7.375          1,981.82      360,000.00
    SAN BRUNO        CA   94066          5            07/21/98         00
    0431262443                           05           09/01/98          0
    40513590                             O            08/01/28
    0
 
 
    1891756          562/562             F          150,000.00         ZZ
                                         360        150,000.00          1
    11 CHARLOTTE LANE                  7.500          1,048.83         50
                                       7.250          1,048.83      305,000.00
    SCARSDALE        NY   10583          5            03/16/99         00
    591875                               05           05/01/99          0
    591875                               O            04/01/29
    0
 
 
    1891766          E45/E45             F          252,000.00         ZZ
                                         360        251,421.21          1
    2104 HUGHES STREET                 7.375          1,740.50         90
                                       7.125          1,740.50      280,000.00
    BAINBRIDGE       GA   31717          2            12/21/98         01
    45552                                05           02/01/99         25
    45552                                O            01/01/29
    0
 
 
    1891768          638/G01             F          245,250.00         ZZ
                                         360        245,063.39          1
    4861 DELORES DRIVE                 7.375          1,693.88         90
                                       7.125          1,693.88      272,500.00
    UNION CITY       CA   94587          1            02/22/99         10
    0431250661                           05           04/01/99         25
    8857140                              O            03/01/29
    0
 
 
    1891769          E82/G01             F          598,000.00         ZZ
                                         360        598,000.00          1
1
 
 
    5 FOREST DRIVE                     7.000          3,978.51         60
                                       6.750          3,978.51    1,000,000.00
    SANDS POINT      NY   11050          2            03/09/99         00
    0400169124                           05           05/01/99          0
    1581903                              O            04/01/29
    0
 
 
    1891874          H29/G01             F          440,000.00         ZZ
                                         360        440,000.00          1
    17 CARLEY ROAD                     7.250          3,001.57         61
                                       7.000          3,001.57      725,000.00
    LEXINGTON        MA   02173          2            03/10/99         00
    0431256312                           05           05/01/99          0
    00                                   O            04/01/29
    0
 
 
    1891883          111/111             F          253,000.00         ZZ
                                         360        252,816.88          1
    1434 JAMACHA ROAD                  7.625          1,790.72         51
                                       7.375          1,790.72      500,000.00
    EL CAJON         CA   92019          2            02/22/99         00
    826757                               05           04/01/99          0
    826757                               O            03/01/29
    0
 
 
    1891951          F18/G01             F          227,000.00         ZZ
                                         360        227,000.00          1
    140 KEEL COURT                     7.500          1,587.22         78
                                       7.250          1,587.22      293,000.00
    HALF MOON BAY    CA   94019          2            03/12/99         00
    0431257161                           05           05/01/99          0
    00606                                O            04/01/29
    0
 
 
    1891954          A80/G01             F          151,920.00         ZZ
                                         360        151,920.00          1
    2301 COLLINS AVENUE #1126          7.625          1,075.28         80
                                       7.375          1,075.28      189,900.00
    MIAMI BEACH      FL   33139          1            03/15/99         00
    0431258110                           06           05/01/99          0
    9951722                              O            04/01/29
    0
 
 
    1891958          593/593             F          240,000.00         ZZ
                                         360        238,315.29          1
    400 NORTH 117 EAST                 7.375          1,657.63         80
                                       7.125          1,657.63      300,000.00
    JEROME           ID   83338          2            06/30/98         00
    6206338                              05           08/01/98          0
1
 
 
    6206338                              O            07/01/28
    0
 
 
    1891995          975/G01             F          376,000.00         ZZ
                                         360        376,000.00          1
    21002 GRANITE WELLS DRIVE          7.125          2,533.18         80
                                       6.875          2,533.18      470,000.00
    WALNUT           CA   91789          1            03/05/99         00
    0431269604                           05           05/01/99          0
    990642                               O            04/01/29
    0
 
 
    1892014          420/G01             F          360,000.00         ZZ
                                         360        360,000.00          1
    747 STENDHAL LANE                  7.125          2,425.39         80
                                       6.875          2,425.39      450,000.00
    CUPERTINO        CA   95014          1            02/24/99         00
    0431251974                           05           05/01/99          0
    0000407908                           O            04/01/29
    0
 
 
    1892015          964/G01             F          522,000.00         ZZ
                                         360        522,000.00          1
    116 WALNUT AVENUE                  7.375          3,605.32         67
                                       7.125          3,605.32      790,000.00
    MILL VALLEY      CA   94941          5            03/08/99         00
    0431256965                           05           05/01/99          0
    51043                                O            04/01/29
    0
 
 
    1892023          559/G01             F          197,500.00         ZZ
                                         360        197,500.00          1
    315 TRAILVEIW ROAD                 7.250          1,347.30         58
                                       7.000          1,347.30      345,000.00
    ENCINITAS        CA   92024          2            03/09/99         00
    0431258466                           03           05/01/99          0
    5582861                              O            04/01/29
    0
 
 
    1892081          889/G01             F          204,000.00         ZZ
                                         360        204,000.00          1
    13597 ANOCHECER AVENUE             6.875          1,340.13         80
                                       6.625          1,340.13      255,000.00
    CHINO HILLS      CA   91709          1            03/05/99         00
    0431257914                           05           05/01/99          0
    51202664                             O            04/01/29
    0
 
 
1
 
 
    1892092          443/G01             F          352,000.00         ZZ
                                         360        352,000.00          1
    7529 DENROCK AVENUE                7.250          2,401.26         80
                                       7.000          2,401.26      440,000.00
    LOS ANGELES      CA   90045          2            02/23/99         00
    0431259423                           05           05/01/99          0
    5000006                              O            04/01/29
    0
 
 
    1892094          813/813             F          129,000.00         ZZ
                                         360        128,798.13          1
    500 UNIVERSITY AVENUE              7.250            880.01         53
    #1621                              7.000            880.01      245,000.00
    HONOLULU         HI   96826          2            01/08/99         00
    UNKNOWN                              06           03/01/99          0
    UNKNOWN                              O            02/01/29
    0
 
 
    1892095          026/G01             F          405,000.00         ZZ
                                         360        405,000.00          1
    2326 BLYTHE ROAD                   6.750          2,626.83         75
                                       6.500          2,626.83      547,000.00
    WILMINGTON       NC   28403          2            03/11/99         00
    0431253251                           05           05/01/99          0
    0200528181                           O            04/01/29
    0
 
 
    1892096          638/G01             F          168,000.00         ZZ
                                         360        167,872.17          1
    2656 CLEAR CREEK ROAD              7.375          1,160.33         80
                                       7.125          1,160.33      210,000.00
    QUINCY           CA   95971          2            02/17/99         00
    0431256395                           05           04/01/99          0
    08853102                             O            03/01/29
    0
 
 
    1892097          638/G01             F          211,600.00         ZZ
                                         360        211,600.00          1
    669 KICKAPOO DRIVE                 7.250          1,443.49         80
                                       7.000          1,443.49      264,500.00
    VENTURA          CA   93001          2            03/03/99         00
    0431255793                           03           05/01/99          0
    08856131                             O            04/01/29
    0
 
 
    1892108          638/G01             F          119,000.00         ZZ
                                         360        118,909.45          1
    1149 BROSS STREET                  7.375            821.90         78
                                       7.125            821.90      153,000.00
1
 
 
    LONGMONT         CO   80501          2            03/01/99         00
    0431256353                           05           04/01/99          0
    08854643                             O            03/01/29
    0
 
 
    1892122          638/G01             F          143,000.00         ZZ
                                         360        143,000.00          1
    27655 ORLANDO AVENUE               7.750          1,024.47         74
                                       7.500          1,024.47      195,000.00
    HAYWARD          CA   94545          2            03/02/99         00
    0431256379                           05           05/01/99          0
    08858567                             O            04/01/29
    0
 
 
    1892124          638/G01             F          438,000.00         ZZ
                                         240        437,184.40          1
    424 MIDWAY AVENUE                  7.250          3,461.85         51
                                       7.000          3,461.85      870,000.00
    SAN MATEO        CA   94402          2            02/24/99         00
    0431255306                           05           04/01/99          0
    08843184                             O            03/01/19
    0
 
 
    1892150          638/G01             F          292,000.00         ZZ
                                         240        292,000.00          1
    5 BALDWIN LANE                     7.375          2,330.06         80
                                       7.125          2,330.06      365,000.00
    NORTH READING    MA   01864          2            03/02/99         00
    0431255330                           05           05/01/99          0
    08855890                             O            04/01/19
    0
 
 
    1892170          889/G01             F          204,000.00         ZZ
                                         360        204,000.00          1
    893 PALOMINO ROAD                  7.500          1,426.40         80
                                       7.250          1,426.40      255,000.00
    FALLBROOK        CA   92028          1            03/02/99         00
    0431265198                           05           05/01/99          0
    51103117                             O            04/01/29
    0
 
 
    1892178          889/G01             F          212,000.00         ZZ
                                         360        212,000.00          1
    4551 NORTH CERRITOS AVENUE         7.500          1,482.33         80
                                       7.250          1,482.33      265,000.00
    LONG BEACH       CA   90807          1            03/04/99         00
    0431262666                           05           05/01/99          0
    51004720                             O            04/01/29
    0
1
 
 
 
 
    1892190          731/G01             F          185,400.00         ZZ
                                         360        185,400.00          1
    18257 FRIAR STREET                 7.500          1,296.34         70
    TARZANA AREA                       7.250          1,296.34      264,900.00
    CITY OF LOS ANG  CA   91335          1            03/04/99         00
    0431259415                           05           05/01/99          0
    411718278                            O            04/01/29
    0
 
 
    1892195          731/G01             F          374,350.00         ZZ
                                         360        374,350.00          1
    6525 CRYSTALAIRE DRIVE             7.625          2,649.63         50
                                       7.375          2,649.63      750,000.00
    SAN DIEGO        CA   92120          2            03/09/99         00
    0431259068                           05           05/01/99          0
    612513826                            O            04/01/29
    0
 
 
    1892219          638/G01             F          295,247.00         ZZ
                                         360        295,247.00          1
    1150 KATHY ANNE LANE               7.250          2,014.10         80
                                       7.000          2,014.10      369,059.00
    MILLERSVILLE     MD   21108          1            03/08/99         00
    0431258144                           03           05/01/99          0
    08782193                             O            04/01/29
    0
 
 
    1892224          638/G01             F          283,500.00         ZZ
                                         360        283,500.00          1
    387 SOUTH 1100 WEST                7.125          1,909.99         90
                                       6.875          1,909.99      315,000.00
    FARMINGTON       UT   84025          1            03/09/99         10
    0431256528                           05           05/01/99         25
    08836077                             O            04/01/29
    0
 
 
    1892229          638/G01             F          249,000.00         ZZ
                                         360        248,790.81          1
    20747 TIARA STREET                 6.875          1,635.75         78
                                       6.625          1,635.75      320,000.00
    WOODLAND HILLS   CA   91367          2            02/25/99         00
    0431256791                           05           04/01/99          0
    08857578                             O            03/01/29
    0
 
 
    1892230          638/G01             F          297,000.00         ZZ
                                         360        297,000.00          1
1
 
 
    11906 HALL SHOP ROAD               6.500          1,877.24         75
                                       6.250          1,877.24      396,000.00
    CLARKSVILLE      MD   21029          5            03/04/99         00
    0431256601                           05           05/01/99          0
    08861140                             O            04/01/29
    0
 
 
    1892231          638/G01             F          277,600.00         ZZ
                                         360        277,355.08          1
    13309 SPRINGWOOD COURT             6.625          1,777.50         49
                                       6.375          1,777.50      567,000.00
    ELLICOTT CITY    MD   21042          2            03/03/99         00
    0431256668                           05           04/01/99          0
    08861610                             O            03/01/29
    0
 
 
    1892232          638/G01             F          348,750.00         ZZ
                                         360        348,750.00          1
    261 HUNTERS POINT DRIVE            6.875          2,291.04         90
                                       6.625          2,291.04      387,500.00
    THOUSAND OAKS    CA   91361          1            03/01/99         04
    0431256551                           05           05/01/99         25
    08855293                             O            04/01/29
    0
 
 
    1892233          638/G01             F          359,000.00         ZZ
                                         360        358,667.50          1
    159 PIGEON LANE                    6.375          2,239.69         71
                                       6.125          2,239.69      509,000.00
    WALTHAM          MA   02154          1            02/26/99         00
    0431257633                           05           04/01/99          0
    08848765                             O            03/01/29
    0
 
 
    1892234          638/G01             F          300,000.00         ZZ
                                         360        300,000.00          1
    5744 LONGRIDGE DRIVE SW            6.875          1,970.78         75
                                       6.625          1,970.78      405,000.00
    ROANOKE          VA   24018          2            03/02/99         00
    0431256783                           05           05/01/99          0
    08861615                             O            04/01/29
    0
 
 
    1892235          H29/G01             F          418,000.00         ZZ
                                         360        418,000.00          1
    50 RADCLIFFE ROAD                  7.125          2,816.15         75
                                       6.875          2,816.15      560,000.00
    WESTON           MA   02493          2            03/12/99         00
    0431260967                           05           05/01/99          0
1
 
 
    0000                                 O            04/01/29
    0
 
 
    1892236          638/G01             F          274,500.00         ZZ
                                         360        274,500.00          1
    24811 VIA DEL RIO                  6.875          1,803.27         90
                                       6.625          1,803.27      305,000.00
    LAKE FOREST      CA   92603          1            03/04/99         14
    0431256742                           03           05/01/99         25
    08861417                             O            04/01/29
    0
 
 
    1892269          L16/G01             F          151,000.00         ZZ
                                         360        151,000.00          1
    10415 S. ZINNIA WAY                7.375          1,042.92         90
                                       7.125          1,042.92      168,000.00
    SANDY            UT   84094          2            03/17/99         10
    0431257559                           03           05/01/99         25
    99030014                             O            04/01/29
    0
 
 
    1892281          356/G01             F          445,000.00         ZZ
                                         360        445,000.00          1
    2187 WYNFAIR RIDGE WAY             7.375          3,073.51         57
                                       7.125          3,073.51      792,000.00
    SAN JOSE         CA   95138          5            02/22/99         00
    0431254218                           05           05/01/99          0
    2743086                              O            04/01/29
    0
 
 
    1892283          356/G01             F          336,500.00         ZZ
                                         360        336,500.00          1
    638 BOAR CIRCLE                    7.250          2,295.53         54
                                       7.000          2,295.53      630,000.00
    FREMONT          CA   94539          2            02/22/99         00
    0431254226                           03           05/01/99          0
    2722007                              O            04/01/29
    0
 
 
    1892285          470/G01             F          650,000.00         ZZ
                                         360        649,453.92          1
    10 SOUTH VIEW                      6.875          4,270.04         80
                                       6.625          4,270.04      812,500.00
    COTO DE CAZA AR  CA   92679          1            02/23/99         00
    0431254663                           05           04/01/99          0
    96030100                             O            03/01/29
    0
 
 
1
 
 
    1892290          964/G01             F          248,000.00         ZZ
                                         360        248,000.00          1
    30 CREEKSIDE COURT                 7.625          1,755.33         80
                                       7.375          1,755.33      310,000.00
    CORTE MADERA     CA   94925          1            03/10/99         00
    0431253822                           01           05/01/99          0
    52772                                O            04/01/29
    0
 
 
    1892296          964/G01             F          650,000.00         ZZ
                                         360        650,000.00          1
    400 SUMMIT AVENUE                  7.125          4,379.17         50
                                       6.875          4,379.17    1,300,000.00
    MILL VALLEY      CA   94941          5            03/12/99         00
    0431253749                           05           05/01/99          0
    52218                                O            04/01/29
    0
 
 
    1892299          E44/G01             F          344,400.00         ZZ
                                         360        344,400.00          1
    3688 NORTH ELKS TRAIL              7.125          2,320.29         82
                                       6.875          2,320.29      420,000.00
    EDEN             UT   84310          2            03/15/99         01
    0431255280                           05           05/01/99         12
    03448856                             O            04/01/29
    0
 
 
    1892302          964/G01             F          164,500.00         ZZ
                                         360        164,500.00          1
    6618 CAMINO DEL SOL DRIVE          7.250          1,122.18         70
                                       7.000          1,122.18      235,000.00
    RANCHO MURIETA   CA   95683          1            03/05/99         00
    0431254143                           03           05/01/99          0
    51180                                O            04/01/29
    0
 
 
    1892306          964/G01             F          305,000.00         ZZ
                                         360        305,000.00          1
    18715 STRATTON LANE                7.000          2,029.17         64
                                       6.750          2,029.17      480,000.00
    HUNTINGTON BEAC  CA   92648          1            03/09/99         00
    0431253640                           03           05/01/99          0
    52277                                O            04/01/29
    0
 
 
    1892316          961/G01             F          280,000.00         ZZ
                                         360        279,786.94          1
    1139 HARVARD STREET #C             7.375          1,933.89         63
                                       7.125          1,933.89      450,000.00
1
 
 
    SANTA MONICA     CA   90403          5            02/22/99         00
    0431261858                           01           04/01/99          0
    09112191                             O            03/01/29
    0
 
 
    1892324          A50/A50             F          537,600.00         ZZ
                                         360        536,694.11          1
    6901 HILLTOP COURT                 6.875          3,531.65         70
                                       6.625          3,531.65      775,000.00
    COLUMBUS         GA   31904          5            02/03/99         00
    120583                               05           03/01/99          0
    120583                               O            02/01/29
    0
 
 
    1892325          470/G01             F          158,500.00         ZZ
                                         360        158,363.53          1
    5149 PAWNEE DRIVE                  6.750          1,028.03         94
                                       6.500          1,028.03      170,000.00
    ANTIOCH          CA   94509          2            02/26/99         04
    0431257989                           05           04/01/99         30
    75009810                             O            03/01/29
    0
 
 
    1892327          665/G01             F          368,000.00         ZZ
                                         360        368,000.00          1
    29 LA RANCHERIA ROAD               7.250          2,510.41         80
                                       7.000          2,510.41      460,000.00
    CARMEL VALLEY    CA   93924          2            03/04/99         00
    0431254002                           05           05/01/99          0
    9901227973                           O            04/01/29
    0
 
 
    1892337          E82/G01             F          252,500.00         ZZ
                                         360        252,500.00          1
    50-05 215TH STREET                 7.250          1,722.50         69
                                       7.000          1,722.50      370,000.00
    BAYSIDE          NY   11364          2            03/12/99         00
    0400188660                           05           05/01/99          0
    0400188660                           O            04/01/29
    0
 
 
    1892353          893/G01             F          345,000.00         ZZ
                                         360        345,000.00          1
    1700 RALPH LEE COURT               6.875          2,266.40         60
                                       6.625          2,266.40      575,000.00
    MORGAN HILL      CA   95037          2            03/08/99         00
    0431257401                           05           05/01/99          0
    1980909                              O            04/01/29
    0
1
 
 
 
 
    1892366          253/253             F          325,000.00         ZZ
                                         360        324,740.10          1
    20 ARROYO CALABASAS                7.125          2,189.59         51
                                       6.875          2,189.59      640,000.00
    SANTA FE         NM   87501          5            03/01/99         00
    932037                               05           04/01/99          0
    932037                               O            03/01/29
    0
 
 
    1892369          A35/A35             F          456,000.00         ZZ
                                         360        456,000.00          1
    14 CLINTON AVENUE                  7.250          3,110.72         80
                                       7.000          3,110.72      570,000.00
    MONTCLAIR        NJ   07042          1            03/16/99         00
    000                                  05           05/01/99          0
    000                                  O            04/01/29
    0
 
 
    1892376          638/G01             F          260,100.00         ZZ
                                         360        260,100.00          1
    14251 MEADOWRUN STREET             7.000          1,730.45         80
                                       6.750          1,730.45      325,185.00
    SAN DIEGO        CA   92129          1            03/02/99         00
    0431257880                           05           05/01/99          0
    08859674                             O            04/01/29
    0
 
 
    1892378          638/G01             F          310,000.00         ZZ
                                         360        309,758.17          1
    123 SESAME STREET                  7.250          2,114.75         48
                                       7.000          2,114.75      650,000.00
    PENNGROVE        CA   94951          2            02/24/99         00
    0431257823                           05           04/01/99          0
    08851774                             O            03/01/29
    0
 
 
    1892379          638/G01             F          240,000.00         ZZ
                                         360        239,826.30          1
    4202 DEERFIELD VILLAGE DRIVE       7.625          1,698.70         95
                                       7.375          1,698.70      255,000.00
    HOUSTON          TX   77084          1            02/24/99         14
    0431257849                           03           04/01/99         30
    08853202                             O            03/01/29
    0
 
 
    1892383          638/G01             F          191,200.00         ZZ
                                         360        191,050.85          1
1
 
 
    90 TEPEE TRAIL                     7.250          1,304.32         80
                                       7.000          1,304.32      239,000.00
    CRANSTON         RI   02920          1            03/05/99         00
    0431257377                           05           04/01/99          0
    08861113                             O            03/01/29
    0
 
 
    1892393          638/G01             F           52,800.00         ZZ
                                         360         52,800.00          1
    15806 BEECHNUT STREET              7.375            364.68         80
                                       7.125            364.68       66,000.00
    HOUSTON          TX   77083          1            03/02/99         00
    0431257658                           05           05/01/99          0
    08861308                             O            04/01/29
    0
 
 
    1892395          E76/G01             F          164,000.00         ZZ
                                         360        164,000.00          1
    17001 WEST 64TH DRIVE              7.250          1,118.77         80
                                       7.000          1,118.77      206,000.00
    ARVADA           CO   80007          1            03/15/99         00
    0431254747                           05           05/01/99          0
    S9901000                             O            04/01/29
    0
 
 
    1892396          638/G01             F          250,000.00         ZZ
                                         360        250,000.00          1
    4918 YELLOWSTONE PARK DRIVE        7.625          1,769.48         90
                                       7.375          1,769.48      278,000.00
    FREMONT          CA   94538          1            03/01/99         10
    0431257922                           05           05/01/99         25
    08858568                             O            04/01/29
    0
 
 
    1892399          638/G01             F           52,000.00         ZZ
                                         360         52,000.00          1
    3221 WEST RUNION DRIVE             7.375            359.15         76
                                       7.125            359.15       69,000.00
    PHOENIX          AZ   85027          2            03/08/99         00
    0431257682                           05           05/01/99          0
    08859954                             O            04/01/29
    0
 
 
    1892407          638/G01             F          315,000.00         ZZ
                                         360        315,000.00          1
    1220 HAWK HAVEN                    7.500          2,202.53         83
                                       7.250          2,202.53      382,950.00
    ROHNERT PARK     CA   94928          1            03/04/99         14
    0431257369                           05           05/01/99         12
1
 
 
    08856615                             O            04/01/29
    0
 
 
    1892408          638/G01             F          135,000.00         ZZ
                                         360        134,894.69          1
    64 EAGLE RUN #19                   7.250            920.94         72
                                       7.000            920.94      190,000.00
    IRVINE           CA   92714          2            02/23/99         00
    0431257195                           01           04/01/99          0
    08854817                             O            03/01/29
    0
 
 
    1892411          638/G01             F          213,750.00         ZZ
                                         360        213,750.00          1
    469 KARRA COURT                    7.250          1,458.15         95
                                       7.000          1,458.15      225,000.00
    CHULA VISTA      CA   91910          2            03/01/99         10
    0431257724                           03           05/01/99         30
    08854751                             O            04/01/29
    0
 
 
    1892455          550/550             F          434,000.00         ZZ
                                         360        434,000.00          1
    9249 WARBLER WAY                   7.000          2,887.41         70
                                       6.750          2,887.41      620,000.00
    LOS ANGELES      CA   90069          1            03/15/99         00
    120290718                            05           05/01/99          0
    120290718                            O            04/01/29
    0
 
 
    1892495          696/G01             F          272,000.00         ZZ
                                         360        272,000.00          1
    428 4TH STREET NE                  7.125          1,832.51         80
                                       6.875          1,832.51      340,000.00
    WASHINGTON       DC   20002          1            03/15/99         00
    0431253509                           07           05/01/99          0
    31299013                             O            04/01/29
    0
 
 
    1892601          664/G01             F          290,500.00         ZZ
                                         360        290,500.00          1
    8998 SCOTT STREET                  6.875          1,908.38         85
                                       6.625          1,908.38      344,000.00
    SPRINGFIELD      VA   22153          2            02/26/99         12
    0431256981                           03           05/01/99         12
    3029766                              O            04/01/29
    0
 
 
1
 
 
    1892612          926/926             F          750,000.00         ZZ
                                         360        750,000.00          1
    76 BRAMS POINT ROAD                7.375          5,180.07         33
                                       7.125          5,180.07    2,300,000.00
    HILTON HEAD ISL  SC   29926          2            03/01/99         00
    163016177                            03           05/01/99          0
    163016177                            O            04/01/29
    0
 
 
    1892616          E82/G01             F           97,900.00         ZZ
                                         360         97,900.00          2
    847 GARDEN STREET                  7.375            676.17         59
                                       7.125            676.17      168,000.00
    ELIZABETH        NJ   07202          2            03/16/99         00
    0400182549                           05           05/01/99          0
    0400182549                           O            04/01/29
    0
 
 
    1892626          A35/G01             F          261,200.00         ZZ
                                         360        261,200.00          1
    19 FROST LANE                      7.500          1,826.35         95
                                       7.250          1,826.35      275,000.00
    WADING RIVER     NY   11792          1            03/16/99         10
    0431259480                           05           05/01/99         30
    000                                  O            04/01/29
    0
 
 
    1892633          P60/G01             F          283,200.00         ZZ
                                         360        283,200.00          1
    141 SUGAR HILL DR                  7.375          1,955.99         80
                                       7.125          1,955.99      354,000.00
    EATON            OH   45320          2            03/12/99         00
    0431257740                           05           05/01/99          0
    6100038708                           O            04/01/29
    0
 
 
    1892638          B57/G01             F          432,600.00         ZZ
                                         360        432,600.00          1
    19951 TURNBERRY DRIVE              7.750          3,099.20         70
                                       7.500          3,099.20      620,000.00
    LOS ANGELES      CA   91356          2            03/05/99         00
    0431265560                           05           05/01/99          0
    9910353                              O            04/01/29
    0
 
 
    1892644          830/G01             F          265,000.00         ZZ
                                         360        265,000.00          1
    24 VIA ANADEJA                     7.500          1,852.92         74
                                       7.250          1,852.92      360,000.00
1
 
 
    RANCHO SANTA MA  CA   92688          2            03/15/99         00
    0431260389                           03           05/01/99          0
    540329                               O            04/01/29
    0
 
 
    1892645          533/G01             F          283,000.00         ZZ
                                         360        283,000.00          1
    22820 LASSEN DRIVE                 7.500          1,978.78         70
                                       7.250          1,978.78      405,000.00
    CANYON LAKE      CA   92587          5            03/08/99         00
    0431259324                           03           05/01/99          0
    3385119                              O            04/01/29
    0
 
 
    1892647          F18/G01             F          275,200.00         ZZ
                                         360        275,200.00          1
    1224 GOETTINGEN STREET             7.375          1,900.74         80
                                       7.125          1,900.74      344,000.00
    SAN FRANCISCO    CA   94117          1            03/17/99         00
    0431266964                           07           05/01/99          0
    00602                                O            04/01/29
    0
 
 
    1892648          961/G01             F          152,800.00         ZZ
                                         360        152,800.00          1
    5612 YUBA AVENUE                   7.000          1,016.58         80
                                       6.750          1,016.58      191,000.00
    WESTMINSTER      CA   92683          1            03/01/99         00
    0431261445                           05           05/01/99          0
    09111888                             O            04/01/29
    0
 
 
    1892654          731/G01             F          132,000.00         ZZ
                                         360        132,000.00          1
    4921 SRONEWOOD WAY                 7.375            911.69         80
                                       7.125            911.69      165,000.00
    ANTIOCH          CA   94509          1            03/08/99         00
    0431256098                           05           05/01/99          0
    911684333                            O            04/01/29
    0
 
 
    1892659          950/G01             F          144,350.00         ZZ
                                         360        144,240.16          1
    5612 34TH AVENUE SOUTHWEST         7.375            996.99         75
                                       7.125            996.99      192,500.00
    SEATTLE          WA   98126          1            02/24/99         00
    0431255892                           05           04/01/99          0
    101990121126                         O            03/01/29
    0
1
 
 
 
 
    1892665          731/G01             F          318,000.00         ZZ
                                         360        318,000.00          1
    26521 CAMPESINO                    7.375          2,196.35         77
                                       7.125          2,196.35      415,000.00
    MISSION VIEJO    CA   92691          2            03/08/99         00
    0431256270                           03           05/01/99          0
    911684366                            O            04/01/29
    0
 
 
    1892675          195/G01             F          450,000.00         ZZ
                                         360        450,000.00          1
    61 SAN ANDREAS WAY                 7.125          3,031.74         36
                                       6.875          3,031.74    1,275,000.00
    SAN FRANCISCO    CA   94127          1            03/11/99         00
    0431266535                           05           05/01/99          0
    62219                                O            04/01/29
    0
 
 
    1892685          E26/G01             F          460,000.00         ZZ
                                         360        459,622.93          1
    115 GRAND BAY DRIVE                7.000          3,060.40         80
                                       6.750          3,060.40      575,000.00
    MOORESVILLE      NC   28115          4            02/19/99         00
    0431272152                           03           04/01/99          0
    50801582                             O            03/01/29
    0
 
 
    1892687          E26/G01             F          385,850.00         ZZ
                                         360        385,556.39          1
    17425 MARILLA STREET               7.375          2,664.98         78
                                       7.125          2,664.98      495,000.00
    LOS ANGELES      CA   91325          2            02/17/99         00
    0431265412                           05           04/01/99          0
    34900239                             O            03/01/29
    0
 
 
    1892691          964/G01             F          300,000.00         ZZ
                                         360        300,000.00          1
    790 SAINT GEORGE ROAD              7.625          2,123.38         66
                                       7.375          2,123.38      455,000.00
    DANVILLE         CA   94526          1            03/11/99         00
    0431256106                           05           05/01/99          0
    53348                                O            04/01/29
    0
 
 
    1892721          624/G01             F          255,000.00         ZZ
                                         360        255,000.00          1
1
 
 
    4324 FERN VALLEY ROAD              7.375          1,761.22         58
                                       7.125          1,761.22      440,000.00
    MEDFORD          OR   97504          5            03/09/99         00
    0431258581                           05           05/01/99          0
    8110059003                           O            04/01/29
    0
 
 
    1892724          638/G01             F          545,000.00         ZZ
                                         360        545,000.00          1
    6684 PAGEANT DRIVE                 6.875          3,580.26         70
                                       6.625          3,580.26      780,000.00
    HUNTINGTON BEAC  CA   92648          5            03/01/99         00
    0431258730                           05           05/01/99          0
    08838500                             O            04/01/29
    0
 
 
    1892734          638/G01             F          300,000.00         ZZ
                                         360        300,000.00          1
    4303 TRAVIS VISTA DRIVE            6.875          1,970.79         67
                                       6.625          1,970.79      450,000.00
    AUSTIN           TX   78738          1            03/05/99         00
    0431258698                           05           05/01/99          0
    08855462                             O            04/01/29
    0
 
 
    1892740          F18/G01             F          252,000.00         ZZ
                                         360        252,000.00          1
    7760 DUBLIN GREEN COURT            6.875          1,655.47         90
                                       6.625          1,655.47      280,000.00
    DUBLIN           CA   94568          1            03/16/99         01
    0431259266                           05           05/01/99         25
    00614                                O            04/01/29
    0
 
 
    1892743          638/G01             F          217,000.00         ZZ
                                         360        217,000.00          1
    243 WEST WHITTIER AVENUE           7.000          1,443.71         70
                                       6.750          1,443.71      310,000.00
    TRACY            CA   95376          1            03/03/99         00
    0431258474                           05           05/01/99          0
    08851308                             O            04/01/29
    0
 
 
    1892744          685/G01             F          392,050.00         ZZ
                                         360        392,050.00          1
    13618 GROSSE POINTE                7.000          2,608.32         90
                                       6.750          2,608.32      435,613.00
    SAN DIEGO        CA   92128          1            03/01/99         04
    0431259928                           03           05/01/99         25
1
 
 
    116501                               O            04/01/29
    0
 
 
    1892750          J95/J95             F          480,000.00         ZZ
                                         360        479,616.15          1
    28110 LEGATES COVE ROAD            7.125          3,233.85         71
                                       6.875          3,233.85      685,000.00
    EASTON           MD   21601          2            02/22/99         00
    9705260                              05           04/01/99          0
    9705260                              O            03/01/29
    0
 
 
    1892761          J95/J95             F          267,000.00         ZZ
                                         360        266,796.83          1
    1280 LITCHFIELD AVENUE             7.375          1,844.11         77
                                       7.125          1,844.11      350,000.00
    FREMONT          CA   94536          2            02/26/99         00
    0016592420                           05           04/01/99          0
    0016592420                           O            03/01/29
    0
 
 
    1892764          J95/J95             F          342,000.00         ZZ
                                         360        341,712.68          1
    21962 NORTH OLD FARM ROAD          6.875          2,246.70         85
                                       6.625          2,246.70      405,000.00
    BARRINGTON       IL   60010          2            02/15/99         10
    0016573289                           05           04/01/99         12
    0016573289                           O            03/01/29
    0
 
 
    1892773          J95/J95             F          284,000.00         ZZ
                                         360        283,749.43          1
    7413 CALAMO STREET                 6.625          1,818.49         80
                                       6.375          1,818.49      355,000.00
    SPRINGFIELD      VA   22150          1            02/24/99         00
    9703703                              05           04/01/99          0
    9703703                              O            03/01/29
    0
 
 
    1892775          J95/J95             F          275,000.00         ZZ
                                         360        274,774.58          1
    123 STAVOLA ROAD                   7.000          1,829.59         72
                                       6.750          1,829.59      382,000.00
    MIDDLETOWN       NJ   07748          2            02/23/99         00
    9676222                              05           04/01/99          0
    9676222                              O            03/01/29
    0
 
 
1
 
 
    1892779          J95/J95             F          276,800.00         ZZ
                                         360        276,555.78          1
    6329 NICHOLSON STREET              6.625          1,772.39         80
                                       6.375          1,772.39      346,000.00
    FALLS CHURCH     VA   22044          1            02/26/99         00
    9711755                              05           04/01/99          0
    9711755                              O            03/01/29
    0
 
 
    1892781          J95/J95             F          594,000.00         ZZ
                                         360        593,137.42          1
    521 EDINBURGH STREET               7.625          4,204.30         66
                                       7.375          4,204.30      910,000.00
    SAN MATEO        CA   94402          2            01/25/99         00
    0016571861                           05           03/01/99          0
    0016571861                           O            02/01/29
    0
 
 
    1892782          J95/J95             F          342,000.00         ZZ
                                         360        341,719.66          1
    9 FREEDOM TRAIL                    7.000          2,275.34         69
                                       6.750          2,275.34      501,000.00
    NORFOLK          MA   02056          2            02/24/99         00
    9693052                              05           04/01/99          0
    9693052                              O            03/01/29
    0
 
 
    1892785          J95/J95             F          288,000.00         ZZ
                                         360        287,775.33          1
    4352 PEACH COURT                   7.250          1,964.67         72
                                       7.000          1,964.67      400,000.00
    BOULDER          CO   80301          2            02/22/99         00
    0016576670                           03           04/01/99          0
    0016576670                           O            03/01/29
    0
 
 
    1892786          J95/J95             F          367,500.00         ZZ
                                         360        367,191.25          1
    189 OLD LONG RIDGE ROAD            6.875          2,414.22         73
                                       6.625          2,414.22      510,000.00
    STAMFORD         CT   06903          2            02/24/99         00
    0016559544                           05           04/01/99          0
    0016559544                           O            03/01/29
    0
 
 
    1892865          026/G01             F          415,000.00         ZZ
                                         360        415,000.00          1
    4379 NORTH BUCKHEAD DRIVE          6.500          2,623.09         63
                                       6.250          2,623.09      661,750.00
1
 
 
    ATLANTA          GA   30342          1            03/19/99         00
    0431266303                           03           05/01/99          0
    0200547054                           O            04/01/29
    0
 
 
    1892894          E82/G01             F          400,000.00         ZZ
                                         360        400,000.00          1
    2100 YORKTOWN ROAD NORTHWEST       7.125          2,694.87         58
                                       6.875          2,694.87      700,000.00
    WASHINGTON       DC   20012          5            03/19/99         00
    0400184933                           05           05/01/99          0
    0400184933                           O            04/01/29
    0
 
 
    1892896          E82/G01             F          363,000.00         ZZ
                                         360        363,000.00          1
    55 GRASSLANDS CIRCLE               7.125          2,445.60         79
                                       6.875          2,445.60      462,000.00
    MOUNT SINAI      NY   11766          2            03/18/99         00
    0400164182                           05           05/01/99          0
    1582684                              O            04/01/29
    0
 
 
    1892909          F26/G01             F          273,750.00         ZZ
                                         360        273,750.00          1
    1830 248TH PLACE NORTHEAST         7.000          1,821.27         75
                                       6.750          1,821.27      365,000.00
    REDMOND          WA   98053          5            03/12/99         00
    0431257500                           05           05/01/99          0
    7142599600                           O            04/01/29
    0
 
 
    1892913          F96/G01             F          266,000.00         ZZ
                                         360        265,807.48          1
    251-263 DERROM AVENUE              7.625          1,882.73         95
                                       7.375          1,882.73      280,000.00
    CITY OF PATERSO  NJ   07504          1            02/18/99         10
    0431266733                           05           04/01/99         30
    984423                               O            03/01/29
    0
 
 
    1892930          944/G01             F          470,000.00         ZZ
                                         360        470,000.00          1
    20751 VERDE VISTA LANE             6.875          3,087.57         51
                                       6.625          3,087.57      925,000.00
    SARATOGA         CA   95070          1            03/01/99         00
    0431261619                           05           05/01/99          0
    17013                                O            04/01/29
    0
1
 
 
 
 
    1892936          665/G01             F          300,000.00         ZZ
                                         360        300,000.00          1
    996 HAWTHORNE DRIVE                7.000          1,995.91         69
                                       6.750          1,995.91      435,000.00
    WALNUT CREEK     CA   94596          5            03/11/99         00
    0431258284                           05           05/01/99          0
    9901228627                           O            04/01/29
    0
 
 
    1892943          685/G01             F          650,000.00         ZZ
                                         360        650,000.00          1
    265 SOUTH REMINGTON COURT          7.000          4,324.47         63
                                       6.750          4,324.47    1,035,000.00
    ANAHEIM          CA   92807          1            03/17/99         00
    0431258516                           03           05/01/99          0
    116629                               O            04/01/29
    0
 
 
    1892956          757/G01             F          269,000.00         ZZ
                                         360        269,000.00          1
    601 TURRENTINE AVE                 7.250          1,835.06         90
                                       7.000          1,835.06      299,000.00
    GADSDEN          AL   35901          1            03/20/99         11
    0431276914                           05           05/01/99         25
    8430621                              O            04/01/29
    0
 
 
    1892959          E33/G01             F          360,000.00         ZZ
                                         360        360,000.00          1
    1139 TIMBER LANE                   7.000          2,395.09         68
                                       6.750          2,395.09      535,000.00
    LAKE FOREST      IL   60045          2            03/19/99         00
    0431265826                           05           05/01/99          0
    317447054                            O            04/01/29
    0
 
 
    1892966          964/G01             F          292,000.00         ZZ
                                         360        292,000.00          1
    9601 OLYMPIC DRIVE                 7.125          1,967.26         80
                                       6.875          1,967.26      365,000.00
    HUNTINGTON BEAC  CA   92646          1            03/11/99         00
    0431258136                           05           05/01/99          0
    52475                                O            04/01/29
    0
 
 
    1892971          964/G01             F          280,000.00         ZZ
                                         360        280,000.00          1
1
 
 
    10082 CRAILET DRIVE                7.500          1,957.80         80
                                       7.250          1,957.80      350,000.00
    HUNTINGTON BEAC  CA   92646          1            03/03/99         00
    0431258573                           05           05/01/99          0
    52727                                O            04/01/29
    0
 
 
    1892978          F27/F27             F          365,800.00         ZZ
                                         360        365,469.31          1
    13230 GLEN ROAD                    6.500          2,312.11         79
                                       6.250          2,312.11      465,000.00
    NORTH POTOMAC    MD   20878          2            03/05/99         00
    6060070979                           05           04/01/99          0
    6060070979                           O            03/01/29
    0
 
 
    1892985          069/G01             F          100,000.00         ZZ
                                         360         99,909.60          1
    2625 TIARA AVENUE                  6.500            632.07         75
                                       6.250            632.07      134,900.00
    ONTARIO          CA   91761          1            02/23/99         00
    0431270735                           05           04/01/99          0
    205233916                            O            03/01/29
    0
 
 
    1893001          E85/G01             F          291,000.00         ZZ
                                         360        291,000.00          1
    45 PINEHURST WAY                   7.125          1,960.52         58
                                       6.875          1,960.52      505,000.00
    SAN FRANCISCO    CA   94127          2            03/15/99         00
    0431263219                           05           05/01/99          0
    9604783                              O            04/01/29
    0
 
 
    1893004          944/G01             F          296,000.00         ZZ
                                         360        296,000.00          1
    161 SHELLEY AVENUE                 7.125          1,994.21         80
                                       6.875          1,994.21      370,000.00
    CAMPBELL         CA   95008          1            03/01/99         00
    0431261627                           09           05/01/99          0
    17216                                O            04/01/29
    0
 
 
    1893005          731/G01             F          394,000.00         ZZ
                                         360        394,000.00          1
    7323 GREBE DRIVE                   7.625          2,788.71         65
                                       7.375          2,788.71      615,000.00
    CARLSBAD         CA   92009          2            03/10/99         00
    0431265248                           05           05/01/99          0
1
 
 
    613713362                            O            04/01/29
    0
 
 
    1893006          559/G01             F          191,200.00         ZZ
                                         360        191,200.00          1
    6440 NORTH POINT DRIVE             7.625          1,353.30         80
                                       7.375          1,353.30      239,000.00
    PARADISE         CA   95969          1            03/16/99         00
    0431260330                           05           05/01/99          0
    5584446                              O            04/01/29
    0
 
 
    1893010          B57/G01             F          438,800.00         ZZ
                                         360        438,800.00          1
    11940 WOOD RANCH ROAD              7.500          3,068.16         77
                                       7.250          3,068.16      575,000.00
    LOS ANGELES      CA   91344          2            03/08/99         00
    0431266782                           03           05/01/99          0
    9814883                              O            04/01/29
    0
 
 
    1893011          638/G01             F          299,500.00         ZZ
                                         360        299,500.00          1
    5183 CARTER AVENUE                 7.500          2,094.15         78
                                       7.250          2,094.15      384,500.00
    SAN JOSE         CA   95118          1            03/05/99         00
    0431258953                           05           05/01/99          0
    08859605                             O            04/01/29
    0
 
 
    1893012          765/G01             F          331,500.00         ZZ
                                         360        331,500.00          1
    510 LINDA VISTA AVENUE             7.375          2,289.59         58
                                       7.125          2,289.59      579,000.00
    PASADENA         CA   91105          5            03/09/99         00
    0431257393                           05           05/01/99          0
    144930                               O            04/01/29
    0
 
 
    1893013          638/G01             F          294,800.00         ZZ
                                         360        294,800.00          1
    5882 SIERRA SIENA ROAD             7.000          1,961.31         80
                                       6.750          1,961.31      368,500.00
    IRVINE           CA   92612          1            03/03/99         00
    0431258896                           05           05/01/99          0
    08858283                             O            04/01/29
    0
 
 
1
 
 
    1893015          638/G01             F          365,150.00         ZZ
                                         360        365,150.00          1
    8006 SOUTH DATELAND DRIVE          7.125          2,460.08         90
                                       6.875          2,460.08      405,760.00
    TEMPE            AZ   85284          1            03/02/99         04
    0431259191                           03           05/01/99         25
    08747099                             O            04/01/29
    0
 
 
    1893021          367/367             F          376,000.00         ZZ
                                         360        376,000.00          1
    3826 NORTH TAZEWELL STREET         7.125          2,533.18         80
                                       6.875          2,533.18      470,000.00
    ARLINGTON        VA   22207          1            03/12/99         00
    99075592                             07           05/01/99          0
    99075592                             O            04/01/29
    0
 
 
    1893033          638/G01             F          192,000.00         ZZ
                                         360        192,000.00          1
    1418 CREST DRIVE                   7.375          1,326.10         37
                                       7.125          1,326.10      530,000.00
    ENCINITAS        CA   92024          2            02/26/99         00
    0431259084                           05           05/01/99          0
    08845319                             O            04/01/29
    0
 
 
    1893049          638/G01             F          277,000.00         ZZ
                                         360        277,000.00          1
    402 NORTH GERTRUDA AVENUE          7.250          1,889.63         64
    UNIT A                             7.000          1,889.63      435,000.00
    REDONDO BEACH    CA   90277          2            03/01/99         00
    0431259076                           01           05/01/99          0
    08832743                             O            04/01/29
    0
 
 
    1893066          H94/G01             F          123,000.00         ZZ
                                         360        122,901.64          1
    449 NORTH HATFIELD AVENUE          7.125            828.67         65
                                       6.875            828.67      190,000.00
    SAN DIMAS        CA   91773          2            02/19/99         00
    0431262658                           05           04/01/99          0
    98013622                             O            03/01/29
    0
 
 
    1893076          N85/G01             F          550,000.00         ZZ
                                         360        550,000.00          1
    243 SOUTH ROXBURY DRIVE            6.875          3,613.11         57
                                       6.625          3,613.11      975,000.00
1
 
 
    BEVERLY HILLS    CA   90212          1            03/12/99         00
    0431273135                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1893077          076/076             F          300,000.00         ZZ
                                         240        298,851.57          1
    101 MANSFIELD RD                   7.000          2,325.90         67
                                       6.750          2,325.90      450,000.00
    NORTH HAVEN      CT   06473          1            01/15/99         00
    157398                               05           03/01/99          0
    157398                               O            02/01/19
    0
 
 
    1893079          076/076             F          450,000.00         ZZ
                                         360        449,602.98          1
    25 DUBLIN HILL RD                  6.625          2,881.40         41
                                       6.375          2,881.40    1,100,000.00
    GREENWICH        CT   06830          5            02/01/99         00
    157551                               05           04/01/99          0
    157551                               O            03/01/29
    0
 
 
    1893082          076/076             F          363,150.00         ZZ
                                         360        362,609.30          1
    LOT 16  RIVERLOCKS II              7.500          2,539.20         73
                                       7.250          2,539.20      500,000.00
    KENNEBUNK        ME   04043          5            01/21/99         00
    1009640                              05           03/01/99          0
    1009640                              O            02/01/29
    0
 
 
    1893083          076/076             F          276,500.00         ZZ
                                         360        275,895.82          1
    7605 NW MORNINGSIDE DR             7.625          1,957.05         89
                                       7.375          1,957.05      312,000.00
    WASHINGTON       DC   20012          2            12/22/98         14
    1052449                              05           02/01/99         25
    1052449                              O            01/01/29
    0
 
 
    1893085          076/076             F          291,500.00         ZZ
                                         360        290,846.91          1
    336 FAIRFAX AVENUE                 7.500          2,038.22         90
                                       7.250          2,038.22      323,900.00
    NORFOLK          VA   23507          2            12/29/98         11
    1076807                              05           02/01/99         25
    1076807                              O            01/01/29
    0
1
 
 
 
 
    1893087          076/076             F          367,000.00         ZZ
                                         360        366,069.71          1
    5100  TROTTER CIR                  6.875          2,410.93         61
                                       6.625          2,410.93      605,000.00
    LINCOLN          NE   68516          2            12/16/98         00
    1336680                              05           02/01/99          0
    1336680                              O            01/01/29
    0
 
 
    1893088          076/076             F          326,250.00         ZZ
                                         360        325,713.59          1
    2999  LAWRENCE ST                  7.000          2,170.55         90
                                       6.750          2,170.55      363,000.00
    SAN DIEGO        CA   92106          1            01/14/99         12
    1353315                              01           03/01/99         25
    1353315                              O            02/01/29
    0
 
 
    1893092          076/076             F          284,000.00         ZZ
                                         360        283,555.56          1
    85 E INDIA ROW 10G                 7.250          1,937.38         80
                                       7.000          1,937.38      355,000.00
    BOSTON           MA   02110          1            01/13/99         00
    1369633                              06           03/01/99          0
    1369633                              O            02/01/29
    0
 
 
    1893093          076/076             F          400,000.00         ZZ
                                         360        399,325.98          1
    20 KEWADIN RD                      6.875          2,627.72         58
                                       6.625          2,627.72      700,000.00
    NEWTON           MA   02468          5            01/29/99         00
    1369723                              05           03/01/99          0
    1369723                              O            02/01/29
    0
 
 
    1893094          076/076             F          565,000.00         ZZ
                                         360        564,093.68          1
    10 MYSTIC LN                       7.125          3,806.51         67
                                       6.875          3,806.51      845,000.00
    DARIEN           CT   06820          5            01/15/99         00
    1398736                              05           03/01/99          0
    1398736                              O            02/01/29
    0
 
 
    1893097          076/076             F          315,000.00         T
                                         360        314,294.27          1
1
 
 
    2 HOLLISTER RD                     7.500          2,202.53         59
                                       7.250          2,202.53      540,000.00
    NANTUCKET        MA   02554          2            12/22/98         00
    1399946                              05           02/01/99          0
    1399946                              O            01/01/29
    0
 
 
    1893103          076/076             F          364,000.00         ZZ
                                         360        363,416.10          1
    875 REDWOOD DR                     7.125          2,452.34         80
                                       6.875          2,452.34      458,000.00
    DANVILLE         CA   94506          1            01/20/99         00
    1539145                              03           03/01/99          0
    1539145                              O            02/01/29
    0
 
 
    1893104          076/076             F          298,400.00         ZZ
                                         360        297,921.33          1
    4N 537 WILTSHIRE                   7.125          2,010.38         80
                                       6.875          2,010.38      375,000.00
    WAYNE            IL   60184          1            01/29/99         00
    1539151                              05           03/01/99          0
    1539151                              O            02/01/29
    0
 
 
    1893107          076/076             F          325,000.00         ZZ
                                         360        324,478.66          1
    9978 FIELDCREST DR                 7.125          2,189.59         73
                                       6.875          2,189.59      450,000.00
    OMAHA            NE   68114          2            01/27/99         00
    1916678                              09           03/01/99          0
    1916678                              O            02/01/29
    0
 
 
    1893109          076/076             F          350,000.00         ZZ
                                         360        349,045.63          1
    50  OLD STONE BRG                  6.500          2,212.24         30
                                       6.250          2,212.24    1,175,000.00
    COS COB          CT   06807          5            12/29/98         00
    2579251                              05           02/01/99          0
    2579251                              O            01/01/29
    0
 
 
    1893111          076/076             F          400,000.00         ZZ
                                         360        397,387.14          1
    12438   KINGSPINE AVE              7.125          2,694.88         90
                                       6.875          2,694.88      445,000.00
    SAN DIEGO        CA   92131          1            08/24/98         10
    2583604                              03           09/01/98         25
1
 
 
    2583604                              O            08/01/28
    0
 
 
    1893113          076/076             F          506,000.00         ZZ
                                         360        505,152.23          1
    1153 PINE DR                       6.875          3,324.06         77
                                       6.625          3,324.06      660,000.00
    EL  CAJON        CA   92020          2            02/01/99         00
    3201563                              05           03/01/99          0
    3201563                              O            02/01/29
    0
 
 
    1893114          076/076             F          273,000.00         ZZ
                                         360        272,603.57          1
    10  SHENANDOAH LN                  7.625          1,932.28         75
                                       7.375          1,932.28      365,000.00
    HAWTHORN WOODS   IL   60047          5            01/27/99         00
    3413027                              05           03/01/99          0
    3413027                              O            02/01/29
    0
 
 
    1893117          076/076             F          468,000.00         ZZ
                                         360        467,211.39          1
    1459  S AMBASSADOR WAY             6.875          3,074.43         80
                                       6.625          3,074.43      585,000.00
    SALT LAKE CITY   UT   84108          2            02/10/99         00
    5937294                              05           03/01/99          0
    5937294                              O            02/01/29
    0
 
 
    1893118          076/076             F          425,000.00         ZZ
                                         360        423,922.70          1
    5 MAGNOLIA BLOSSM                  6.875          2,791.95         66
                                       6.625          2,791.95      650,000.00
    BLUFFTON         SC   29910          2            12/29/98         00
    5946350                              05           02/01/99          0
    5946350                              O            01/01/29
    0
 
 
    1893119          076/076             F          358,000.00         ZZ
                                         360        357,411.39          1
    8424  SILVER MTN COVE              7.000          2,381.78         60
                                       6.750          2,381.78      605,000.00
    AUSTIN           TX   78737          2            01/27/99         00
    5975109                              03           03/01/99          0
    5975109                              O            02/01/29
    0
 
 
1
 
 
    1893120          076/076             F          340,000.00         ZZ
                                         360        339,398.39          1
    3  COBBLESTONE LN                  6.625          2,177.06         80
                                       6.375          2,177.06      427,000.00
    CANTON           MA   02021          1            01/29/99         00
    5976319                              05           03/01/99          0
    5976319                              O            02/01/29
    0
 
 
    1893124          076/076             F          320,000.00         ZZ
                                         360        319,208.50          1
    13911 NW 50TH AVE                  7.000          2,128.97         80
                                       6.750          2,128.97      400,000.00
    VANCOUVER        WA   98685          2            12/29/98         00
    6466648                              05           02/01/99          0
    6466648                              O            01/01/29
    0
 
 
    1893127          076/076             F          906,000.00         ZZ
                                         360        901,084.34          1
    734 21ST PL                        7.375          6,257.52         62
                                       7.125          6,257.52    1,470,000.00
    SANTA MONICA     CA   90402          2            07/30/98         00
    7249994                              05           10/01/98          0
    7249994                              O            09/01/28
    0
 
 
    1893132          076/076             F          234,000.00         ZZ
                                         360        233,298.78          1
    10  ELLSWORTH LN                   7.500          1,636.17         90
                                       7.250          1,636.17      262,000.00
    PELHAM           NH   03076          1            11/30/98         10
    7279376                              05           01/01/99         25
    7279376                              O            12/01/28
    0
 
 
    1893134          638/G01             F          270,000.00         ZZ
                                         360        270,000.00          1
    20061 PORT GREENWICH LANE          7.125          1,819.04         80
                                       6.875          1,819.04      337,500.00
    HUNTINGTON BEAC  CA   92646          1            03/04/99         00
    0431258789                           05           05/01/99          0
    08860134                             O            04/01/29
    0
 
 
    1893135          076/076             F          297,300.00         ZZ
                                         240        295,912.74          1
    6 OLD COTTAGE LN                   7.250          2,349.79         71
                                       7.000          2,349.79      420,000.00
1
 
 
    ELIOT            ME   03903          2            01/19/99         00
    7283835                              05           03/01/99          0
    7283835                              O            02/01/19
    0
 
 
    1893136          076/076             F          310,000.00         T
                                         360        309,477.63          1
    9 WOOD HOLLOW RD                   6.875          2,036.48         70
                                       6.625          2,036.48      445,000.00
    NANTUCKET        MA   02554          1            01/14/99         00
    7284326                              05           03/01/99          0
    7284326                              O            02/01/29
    0
 
 
    1893137          076/076             F          285,000.00         ZZ
                                         360        284,519.75          1
    168 CADISH AVE                     6.875          1,872.25         74
                                       6.625          1,872.25      390,000.00
    HULL             MA   02045          1            01/07/99         00
    7284801                              05           03/01/99          0
    7284801                              O            02/01/29
    0
 
 
    1893138          076/076             F          290,000.00         ZZ
                                         360        289,568.21          1
    46 CONCORD SQ                      7.500          2,027.72         60
                                       7.250          2,027.72      490,000.00
    BOSTON           MA   02118          2            01/29/99         00
    7284861                              01           03/01/99          0
    7284861                              O            02/01/29
    0
 
 
    1893145          076/076             F          312,000.00         ZZ
                                         360        311,247.03          1
    1133  BENTWATER DR                 7.125          2,102.01         80
                                       6.875          2,102.01      390,000.00
    MONTGOMERY       TX   77356          2            12/28/98         00
    7310875                              03           02/01/99          0
    7310875                              O            01/01/29
    0
 
 
    1893147          076/076             F          350,000.00         ZZ
                                         360        349,349.94          1
    122 VALLEY RD                      6.375          2,183.55         59
                                       6.125          2,183.55      600,000.00
    ARDMORE          PA   19003          1            02/01/99         00
    7314923                              05           03/01/99          0
    7314923                              O            02/01/29
    0
1
 
 
 
 
    1893149          076/076             F          484,006.00         ZZ
                                         347        483,158.35          1
    15010  HENRY RIDE HTS              7.125          3,296.36         67
                                       6.875          3,296.36      725,000.00
    COLORADO SPRING  CO   80926          1            01/29/99         00
    7321426                              03           03/01/99          0
    7321426                              O            01/01/28
    0
 
 
    1893150          076/076             F          275,000.00         ZZ
                                         348        273,300.64          1
    1371 W SMITH VALLEY                7.125          1,871.29         72
                                       6.875          1,871.29      385,000.00
    GREENWOOD        IN   46143          1            08/28/98         00
    7322062                              05           10/01/98          0
    7322062                              O            09/01/27
    0
 
 
    1893151          076/076             F          250,000.00         ZZ
                                         348        247,454.45          1
    11691  TERRILL RDG RD              7.125          1,701.17         80
                                       6.875          1,701.17      315,000.00
    DAVIDSON         NC   28036          1            06/01/98         00
    7322710                              03           07/01/98          0
    7322710                              O            06/01/27
    0
 
 
    1893152          076/076             F          500,000.00         ZZ
                                         360        499,217.54          1
    2977 PINE GROVE WAY                7.250          3,410.89         80
                                       7.000          3,410.89      625,000.00
    LIMA             OH   45805          2            01/29/99         00
    7324063                              05           03/01/99          0
    7324063                              O            02/01/29
    0
 
 
    1893153          076/076             F          369,500.00         ZZ
                                         360        368,608.28          1
    7980 CHARLYA DR                    7.125          2,489.39         75
                                       6.875          2,489.39      495,000.00
    ATHENS           TX   75751          2            12/29/98         00
    7325574                              03           02/01/99          0
    7325574                              O            01/01/29
    0
 
 
    1893155          076/076             F          270,000.00         ZZ
                                         348        269,541.36          1
1
 
 
    13109 S 700 E                      7.250          1,859.88         90
                                       7.000          1,859.88      300,000.00
    DRAPER           UT   84020          1            02/01/99         11
    7327052                              05           03/01/99         25
    7327052                              O            02/01/28
    0
 
 
    1893156          076/076             F          253,300.00         ZZ
                                         360        251,464.97          1
    126  BALSAM CT                     7.625          1,792.85         84
                                       7.375          1,792.85      302,000.00
    LAKE VILLA       IL   60046          2            06/17/98         14
    7327618                              05           08/01/98         12
    7327618                              O            07/01/28
    0
 
 
    1893159          076/076             F          336,000.00         ZZ
                                         360        335,474.18          1
    11771 N SPOTTED HORSE              7.250          2,292.12         80
                                       7.000          2,292.12      420,000.00
    FOUNTAIN HILLS   AZ   85268          2            01/11/99         00
    7347818                              05           03/01/99          0
    7347818                              O            02/01/29
    0
 
 
    1893162          076/076             F          300,000.00         ZZ
                                         360        299,530.53          1
    17 FESSEDEN RD                     7.250          2,046.53         75
                                       7.000          2,046.53      400,000.00
    BARRINGTON       RI   02806          1            01/13/99         00
    7392800                              05           03/01/99          0
    7392800                              O            02/01/29
    0
 
 
    1893163          076/076             F          268,000.00         ZZ
                                         360        267,580.61          1
    23318 SE 225TH ST                  7.250          1,828.23         75
                                       7.000          1,828.23      360,500.00
    MAPLE VALLEY     WA   98038          2            01/08/99         00
    7402936                              03           03/01/99          0
    7402936                              O            02/01/29
    0
 
 
    1893165          076/076             F          265,000.00         ZZ
                                         360        264,344.52          1
    40996 PARADO DEL SOL               7.000          1,763.06         76
                                       6.750          1,763.06      350,000.00
    TEMECULA         CA   92592          2            12/23/98         00
    7421347                              05           02/01/99          0
1
 
 
    7421347                              O            01/01/29
    0
 
 
    1893166          076/076             F          252,000.00         ZZ
                                         360        250,955.03          1
    2719 E CORTEZ ST                   7.000          1,676.57         79
                                       6.750          1,676.57      320,000.00
    WEST COVINA      CA   91791          1            11/11/98         00
    7423276                              05           12/01/98          0
    7423276                              O            11/01/28
    0
 
 
    1893167          076/076             F          375,360.00         ZZ
                                         360        374,772.59          1
    5001 PRAIRIE ROSE CT               7.250          2,560.62         80
                                       7.000          2,560.62      469,200.00
    MIDDLETON        WI   53562          2            12/29/98         00
    7430362                              01           03/01/99          0
    7430362                              O            02/01/29
    0
 
 
    1893168          076/076             F          256,000.00         ZZ
                                         360        255,132.29          1
    4345 PALOMAR DR                    6.875          1,681.74         80
                                       6.625          1,681.74      320,000.00
    FALL BROOK       CA   92028          2            11/20/98         00
    7430482                              05           01/01/99          0
    7430482                              O            12/01/28
    0
 
 
    1893169          076/076             F          300,000.00         ZZ
                                         360        296,673.22          1
    2032 BIRCH BLUFF DR                7.375          2,072.03         67
                                       7.125          2,072.03      448,000.00
    OKEMOS           MI   48864          1            01/22/98         00
    7720723                              03           03/01/98          0
    7720723                              O            02/01/28
    0
 
 
    1893170          076/076             F          252,000.00         ZZ
                                         360        249,930.00          1
    12975 E TURQUOISE AVE              7.125          1,697.78         80
                                       6.875          1,697.78      315,000.00
    SCOTTSDALE       AZ   85259          2            05/22/98         00
    7804344                              05           07/01/98          0
    7804344                              O            06/01/28
    0
 
 
1
 
 
    1893172          076/076             F          360,000.00         ZZ
                                         360        359,463.98          1
    2187 CARRINGTON CHS                7.500          2,517.18         80
                                       7.250          2,517.18      450,000.00
    ROCKFORD         IL   61114          2            01/29/99         00
    7815206                              05           03/01/99          0
    7815206                              O            02/01/29
    0
 
 
    1893175          076/076             F          401,250.00         ZZ
                                         360        400,622.08          1
    925 JEFFERSON AVE                  7.250          2,737.24         75
                                       7.000          2,737.24      535,000.00
    NEW ORLEANS      LA   70115          2            01/30/99         00
    7819898                              05           03/01/99          0
    7819898                              O            02/01/29
    0
 
 
    1893177          076/076             F          320,000.00         ZZ
                                         360        319,473.87          1
    1833 E HANLEY RD                   7.000          2,128.97         80
                                       6.750          2,128.97      400,000.00
    MANSFIELD        OH   44904          1            02/01/99         00
    7822794                              05           03/01/99          0
    7822794                              O            02/01/29
    0
 
 
    1893179          076/076             F          276,000.00         ZZ
                                         360        275,333.91          1
    4540  GOLF VISTA                   7.125          1,859.47         80
                                       6.875          1,859.47      345,000.00
    AUSTIN           TX   78730          1            01/06/99         00
    7826322                              03           02/01/99          0
    7826322                              O            01/01/29
    0
 
 
    1893180          076/076             F          500,000.00         ZZ
                                         360        499,157.46          1
    4201 CHURCHILL DWNS                6.875          3,284.65         30
                                       6.625          3,284.65    1,700,000.00
    AUSTIN           TX   78746          1            01/13/99         00
    7826327                              03           03/01/99          0
    7826327                              O            02/01/29
    0
 
 
    1893181          076/076             F          331,000.00         ZZ
                                         360        330,455.77          1
    616 MOSSY OAK AVE                  7.000          2,202.16         74
                                       6.750          2,202.16      450,000.00
1
 
 
    BATON ROUGE      LA   70810          2            01/26/99         00
    7826579                              05           03/01/99          0
    7826579                              O            02/01/29
    0
 
 
    1893183          076/076             F          512,000.00         ZZ
                                         360        511,237.67          1
    12191 ARROYO AVE                   7.500          3,579.98         80
                                       7.250          3,579.98      640,000.00
    SANTA ANA        CA   92705          2            01/19/99         00
    7832129                              05           03/01/99          0
    7832129                              O            02/01/29
    0
 
 
    1893184          076/076             F          270,000.00         ZZ
                                         360        269,556.07          1
    5585 TANNERWOOD DR                 7.000          1,796.32         90
                                       6.750          1,796.32      300,000.00
    RENO             NV   89511          1            01/20/99         11
    7834714                              05           03/01/99         25
    7834714                              O            02/01/29
    0
 
 
    1893186          076/076             F          287,000.00         ZZ
                                         360        285,914.81          1
    2411 E PIEDMONT RD                 7.500          2,006.75         80
                                       7.250          2,006.75      361,000.00
    MARIETTA         GA   30062          2            01/29/99         00
    7835098                              05           03/01/99          0
    7835098                              O            02/01/29
    0
 
 
    1893187          076/076             F          292,500.00         ZZ
                                         360        292,254.26          1
    913  18TH ST                       6.875          1,921.52         75
                                       6.625          1,921.52      390,000.00
    MUKILTEO         WA   98275          5            02/08/99         00
    7835481                              05           04/01/99          0
    7835481                              O            03/01/29
    0
 
 
    1893188          076/076             F          340,000.00         ZZ
                                         360        339,493.76          1
    4421  WHITBY LN                    7.500          2,377.33         52
                                       7.250          2,377.33      654,000.00
    CHARLOTTE        NC   28211          5            01/26/99         00
    7835754                              05           03/01/99          0
    7835754                              O            02/01/29
    0
1
 
 
 
 
    1893189          076/076             F          247,000.00         ZZ
                                         360        246,603.77          1
    598 E LANEY S  WAY                 7.125          1,664.09         90
                                       6.875          1,664.09      275,000.00
    DRAPER           UT   84020          1            01/13/99         11
    7835777                              05           03/01/99         25
    7835777                              O            02/01/29
    0
 
 
    1893191          076/076             F          280,000.00         ZZ
                                         360        279,550.84          1
    7450  S LOST CANYON CIR            7.125          1,886.42         72
                                       6.875          1,886.42      390,000.00
    SALT LAKE CITY   UT   84121          5            01/27/99         00
    7837243                              05           03/01/99          0
    7837243                              O            02/01/29
    0
 
 
    1893192          076/076             F          440,000.00         ZZ
                                         360        439,648.14          1
    217 SOUTHWOOD DR                   7.125          2,964.37         80
                                       6.875          2,964.37      552,000.00
    SCOTTS VALLEY    CA   95066          2            02/10/99         00
    7987835                              05           04/01/99          0
    7987835                              O            03/01/29
    0
 
 
    1893193          076/076             F          359,200.00         ZZ
                                         360        358,289.49          1
    2846 CAMINO SEGURA                 6.875          2,359.69         80
                                       6.625          2,359.69      450,000.00
    PLEASANTON       CA   94566          1            12/29/98         00
    7988323                              05           02/01/99          0
    7988323                              O            01/01/29
    0
 
 
    1893194          076/076             F          257,500.00         ZZ
                                         360        256,324.33          1
    17771   AIRMONT RD                 7.500          1,800.48         50
                                       7.250          1,800.48      515,000.00
    ROUND HILL       VA   20141          5            11/30/98         00
    7991607                              05           01/01/99          0
    7991607                              O            12/01/28
    0
 
 
    1893196          076/076             F          288,000.00         ZZ
                                         360        287,047.42          1
1
 
 
    11332 WILLOWBROOK DR               7.000          1,916.07         80
                                       6.750          1,916.07      360,000.00
    POTOMAC          MD   20854          1            11/30/98         00
    7994198                              05           01/01/99          0
    7994198                              O            12/01/28
    0
 
 
    1893197          076/076             F          428,000.00         ZZ
                                         360        427,260.93          1
    7765 CRESTVIEW DR                  6.750          2,776.00         80
                                       6.500          2,776.00      540,000.00
    LONGMONT         CO   80501          1            01/29/99         00
    7994650                              03           03/01/99          0
    7994650                              O            02/01/29
    0
 
 
    1893203          076/076             F          257,000.00         ZZ
                                         360        256,587.74          1
    434 KEVIN DR                       7.125          1,731.46         89
                                       6.875          1,731.46      290,000.00
    ADDISON          IL   60101          2            01/11/99         14
    8188059                              05           03/01/99         25
    8188059                              O            02/01/29
    0
 
 
    1893204          076/076             F          319,900.00         ZZ
                                         360        317,657.47          1
    1700  BEARDS CREEK CT              7.250          2,182.28         79
                                       7.000          2,182.28      406,000.00
    DAVIDSONVILLE    MD   21035          1            12/18/98         00
    8220407                              05           02/01/99          0
    8220407                              O            01/01/29
    0
 
 
    1893205          076/076             F          384,000.00         ZZ
                                         360        383,399.07          1
    144 BROOME AVE                     7.250          2,619.56         80
                                       7.000          2,619.56      480,000.00
    ATLANTIC BEACH   NY   11509          2            02/01/99         00
    8309706                              05           03/01/99          0
    8309706                              O            02/01/29
    0
 
 
    1893206          076/076             F          295,900.00         ZZ
                                         360        295,436.94          1
    14805 LAKE POINTE CT               7.250          2,018.56         66
                                       7.000          2,018.56      454,000.00
    LIBERTY          MO   64068          2            01/28/99         00
    8362885                              03           03/01/99          0
1
 
 
    8362885                              O            02/01/29
    0
 
 
    1893208          076/076             F          415,000.00         ZZ
                                         360        414,350.56          1
    1349  POPPY HILLS DR               7.250          2,831.03         67
                                       7.000          2,831.03      620,000.00
    BLACKLICK        OH   43004          5            01/22/99         00
    8362886                              05           03/01/99          0
    8362886                              O            02/01/29
    0
 
 
    1893209          076/076             F          350,000.00         ZZ
                                         360        349,395.61          1
    3142  MARIOLA RD                   6.750          2,270.10         44
                                       6.500          2,270.10      800,000.00
    SEBASTOPOL       CA   95472          5            01/21/99         00
    8366220                              05           03/01/99          0
    8366220                              O            02/01/29
    0
 
 
    1893210          076/076             F          330,000.00         ZZ
                                         360        329,430.15          1
    1150 W SANTA CLARA AVE             6.750          2,140.38         75
                                       6.500          2,140.38      440,000.00
    SANTA ANA        CA   92706          5            02/08/99         00
    8374553                              05           03/01/99          0
    8374553                              O            02/01/29
    0
 
 
    1893211          076/076             F          452,200.00         ZZ
                                         360        451,509.72          1
    11837 STONE GATE WAY               7.375          3,123.23         80
                                       7.125          3,123.23      566,000.00
    NORTHRIDGE       CA   91326          1            01/25/99         00
    8375157                              03           03/01/99          0
    8375157                              O            02/01/29
    0
 
 
    1893212          076/076             F          322,400.00         ZZ
                                         360        321,910.87          1
    3002 BELFORD RD                    7.375          2,226.74         80
                                       7.125          2,226.74      405,000.00
    FINKSBURG        MD   21048          2            01/11/99         00
    8375428                              03           03/01/99          0
    8375428                              O            02/01/29
    0
 
 
1
 
 
    1893214          076/076             F          352,350.00         ZZ
                                         360        351,798.60          1
    36235 S HUNTINGTON WOOD            7.250          2,403.65         90
                                       7.000          2,403.65      392,000.00
    SOLON            OH   44139          1            01/22/99         11
    8386634                              05           03/01/99         25
    8386634                              O            02/01/29
    0
 
 
    1893216          076/076             F          310,500.00         ZZ
                                         360        310,037.68          1
    824 CAPE MAY PL                    7.500          2,171.07         75
                                       7.250          2,171.07      414,000.00
    SAN JOSE         CA   95133          5            01/26/99         00
    8389418                              05           03/01/99          0
    8389418                              O            02/01/29
    0
 
 
    1893217          076/076             F          320,000.00         ZZ
                                         360        319,473.87          1
    3 NORTH VISTA DE LA LUNA           7.000          2,128.97         40
                                       6.750          2,128.97      800,000.00
    LAGUNA BEACH     CA   92651          5            01/28/99         00
    8398356                              03           03/01/99          0
    8398356                              O            02/01/29
    0
 
 
    1893219          076/076             F          475,500.00         ZZ
                                         360        475,100.52          1
    1200 HIGHLAND PARK D               6.875          3,123.70         70
                                       6.625          3,123.70      685,000.00
    RAPID CITY       SD   57702          2            02/17/99         00
    8401018                              05           04/01/99          0
    8401018                              O            03/01/29
    0
 
 
    1893220          076/076             F          360,000.00         ZZ
                                         360        359,408.10          1
    1409  ARLES CT                     7.000          2,395.09         80
                                       6.750          2,395.09      450,000.00
    WESTOVER HILLS   TX   76107          1            01/27/99         00
    8461633                              05           03/01/99          0
    8461633                              O            02/01/29
    0
 
 
    1893221          076/076             F          339,000.00         ZZ
                                         360        338,442.62          1
    10 MARIPOSA                        7.000          2,255.38         80
                                       6.750          2,255.38      425,000.00
1
 
 
    IRVINE           CA   92604          2            02/01/99         00
    8576704                              03           03/01/99          0
    8576704                              O            02/01/29
    0
 
 
    1893223          076/076             F          360,000.00         ZZ
                                         360        359,393.37          1
    3449  VAUGHN VIEW DR               6.875          2,364.95         72
                                       6.625          2,364.95      501,000.00
    PUEBLO           CO   81005          2            01/28/99         00
    8705692                              05           03/01/99          0
    8705692                              O            02/01/29
    0
 
 
    1893225          076/076             F          344,400.00         ZZ
                                         360        343,805.28          1
    6404  KENTUCKY CT                  6.750          2,233.78         80
                                       6.500          2,233.78      431,000.00
    COLLEYVILLE      TX   76034          1            01/29/99         00
    8760706                              03           03/01/99          0
    8760706                              O            02/01/29
    0
 
 
    1893226          076/076             F          507,000.00         ZZ
                                         360        506,145.68          1
    2411E 199TH AVE CT                 6.875          3,330.63         68
                                       6.625          3,330.63      750,000.00
    SUMNER           WA   98390          2            02/01/99         00
    8833425                              03           03/01/99          0
    8833425                              O            02/01/29
    0
 
 
    1893227          076/076             F          310,000.00         ZZ
                                         360        309,739.56          1
    4607  KAVANAUGH BLD                6.875          2,036.48         63
                                       6.625          2,036.48      495,000.00
    LITTLE ROCK      AR   72207          5            02/10/99         00
    8837516                              05           04/01/99          0
    8837516                              O            03/01/29
    0
 
 
    1893228          076/076             F          373,000.00         ZZ
                                         360        372,678.85          1
    16633 SUNSET BLVD                  6.750          2,419.27         62
                                       6.500          2,419.27      605,000.00
    PACIFIC PALISAD  CA   90272          2            02/17/99         00
    8838464                              05           04/01/99          0
    8838464                              O            03/01/29
    0
1
 
 
 
 
    1893229          076/076             F          445,000.00         ZZ
                                         360        444,303.61          1
    3032 STERLING RD                   7.250          3,035.69         75
                                       7.000          3,035.69      594,000.00
    BIRMINGHAM       AL   35213          5            01/26/99         00
    8839068                              05           03/01/99          0
    8839068                              O            02/01/29
    0
 
 
    1893230          076/076             F          256,000.00         ZZ
                                         360        255,599.38          1
    36 BROOKSIDE AVE                   7.250          1,746.38         79
                                       7.000          1,746.38      326,000.00
    BELMONT          MA   02478          1            01/29/99         00
    8840376                              05           03/01/99          0
    8840376                              O            02/01/29
    0
 
 
    1893232          076/076             F          307,500.00         ZZ
                                         360        307,030.59          1
    1252 CANYON SIDE AVE               7.375          2,123.83         75
                                       7.125          2,123.83      410,000.00
    SAN RAMON        CA   94583          5            01/27/99         00
    8844714                              03           03/01/99          0
    8844714                              O            02/01/29
    0
 
 
    1893234          076/076             F          337,500.00         ZZ
                                         360        337,194.90          1
    2668 BERWYN RD                     6.500          2,133.23         90
                                       6.250          2,133.23      376,000.00
    COLUMBUS         OH   43221          1            02/09/99         14
    8865153                              05           04/01/99         25
    8865153                              O            03/01/29
    0
 
 
    1893235          076/076             F          346,000.00         ZZ
                                         360        345,416.96          1
    3459 LANTERN HOLLOW                6.875          2,272.98         76
                                       6.625          2,272.98      460,000.00
    FORT WORTH       TX   76109          1            01/29/99         00
    8865665                              05           03/01/99          0
    8865665                              O            02/01/29
    0
 
 
    1893236          076/076             F          299,200.00         ZZ
                                         360        298,683.34          1
1
 
 
    407  LOYD RD                       6.750          1,940.61         55
                                       6.500          1,940.61      550,000.00
    PEACHTREE CITY   GA   30269          2            02/05/99         00
    8866426                              05           03/01/99          0
    8866426                              O            02/01/29
    0
 
 
    1893238          076/076             F          450,000.00         ZZ
                                         360        449,657.59          1
    46685 SANDIA CREEK DR              7.375          3,108.04         60
                                       7.125          3,108.04      750,000.00
    TEMECULA         CA   92590          5            02/10/99         00
    8881318                              05           04/01/99          0
    8881318                              O            03/01/29
    0
 
 
    1893243          076/076             F          390,000.00         ZZ
                                         360        389,326.54          1
    5131 ROWEN OAK RD                  6.750          2,529.54         75
                                       6.500          2,529.54      520,000.00
    COLLIERVILLE     TN   38017          1            01/21/99         12
    8888429                              05           03/01/99         12
    8888429                              O            02/01/29
    0
 
 
    1893245          076/076             F          380,000.00         ZZ
                                         360        379,080.51          1
    3015 SE 113TH AVE                  7.000          2,528.15         80
                                       6.750          2,528.15      475,000.00
    BELLEVUE         WA   98004          1            01/29/99         00
    8893279                              05           03/01/99          0
    8893279                              O            02/01/29
    0
 
 
    1893247          076/076             F          255,000.00         ZZ
                                         360        254,610.73          1
    1511 VISTA GRANDE RD               7.375          1,761.23         75
                                       7.125          1,761.23      340,000.00
    EL CAJON         CA   92019          5            01/14/99         00
    8930670                              05           03/01/99          0
    8930670                              O            02/01/29
    0
 
 
    1893248          696/G01             F          275,200.00         ZZ
                                         360        275,200.00          1
    1720 REDWOOD TERRACE NW            7.250          1,877.35         80
                                       7.000          1,877.35      344,000.00
    WASHINGTON       DC   20012          1            03/18/99         00
    0431256973                           05           05/01/99          0
1
 
 
    31299060                             O            04/01/29
    0
 
 
    1893252          A91/G01             F          378,000.00         ZZ
                                         360        378,000.00          1
    116 NADIA COURT                    7.000          2,514.85         85
                                       6.750          2,514.85      445,000.00
    PORT JEFFERSON   NY   11777          2            03/18/99         01
    0431259597                           05           05/01/99         12
    7083400004                           O            04/01/29
    0
 
 
    1893253          601/G01             F          264,000.00         ZZ
                                         360        263,788.88          1
    856 MINNESOTA AVENUE               7.125          1,778.62         80
    #103                               6.875          1,778.62      330,000.00
    SAN JOSE         CA   95125          1            02/23/99         00
    0431268861                           09           04/01/99          0
    60030863                             O            03/01/29
    0
 
 
    1893300          313/G01             F          311,900.00         ZZ
                                         360        311,650.58          1
    9065 OLD KEITH BRIDGE ROAD         7.125          2,101.33         80
                                       6.875          2,101.33      389,900.00
    GAINESVILLE      GA   30506          1            02/26/99         00
    0431268895                           05           04/01/99          0
    6808745                              O            03/01/29
    0
 
 
    1893338          H29/G01             F          303,750.00         ZZ
                                         360        303,750.00          1
    21 LASALLE ROAD                    7.375          2,097.93         75
                                       7.125          2,097.93      405,000.00
    NEEDHAM          MA   02494          5            03/17/99         00
    0431263268                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1893341          H29/G01             F          477,000.00         ZZ
                                         360        477,000.00          1
    7 TOWER DRIVE                      6.875          3,133.56         75
                                       6.625          3,133.56      644,000.00
    DOVER            MA   02030          2            03/17/99         00
    0431266931                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
1
 
 
    1893343          K21/G01             F          400,000.00         ZZ
                                         360        400,000.00          1
    1465 5TH AVENUE                    6.875          2,627.72         62
                                       6.625          2,627.72      650,000.00
    SAN FRANSISCO    CA   94122          5            03/26/99         00
    0431275999                           05           05/01/99          0
    9910978                              O            04/01/29
    0
 
 
    1893444          B64/B64             F          330,000.00         ZZ
                                         360        330,000.00          1
    9 BISHOP AVENUE                    7.375          2,279.23         58
                                       7.125          2,279.23      575,000.00
    WESTHAMPTON      NY   11977          5            03/04/99         00
    69314                                05           05/01/99          0
    69314                                O            04/01/29
    0
 
 
    1893447          L49/G01             F          319,100.00         ZZ
                                         360        319,100.00          1
    17266 RUSSET STREET                6.875          2,096.26         80
                                       6.625          2,096.26      398,900.00
    SAN DIEGO        CA   92127          1            03/15/99         00
    0431260835                           03           05/01/99          0
    10001458                             O            04/01/29
    0
 
 
    1893448          E82/G01             F          153,809.34         ZZ
                                         346        153,023.63          1
    GOLDEN LAKE ROAD                   7.375          1,074.24         63
                                       7.125          1,074.24      246,400.00
    SUMMIT           WI   53066          4            09/01/98         00
    0400040796                           05           11/01/98          0
    04000401796                          O            08/01/27
    0
 
 
    1893449          696/G01             F          226,900.00         ZZ
                                         360        226,900.00          1
    9501 ASHBURY PLACE                 7.500          1,586.52         80
                                       7.250          1,586.52      283,680.00
    FREDERICK        MD   21701          1            03/22/99         00
    0431257864                           03           05/01/99          0
    31999032                             O            04/01/29
    0
 
 
    1893456          964/G01             F          328,000.00         ZZ
                                         360        328,000.00          1
    1060 EAST BURLINGHALL DRIVE        6.875          2,154.73         80
                                       6.625          2,154.73      410,000.00
1
 
 
    LONG BEACH       CA   90807          1            03/09/99         00
    0431259217                           05           05/01/99          0
    52980                                O            04/01/29
    0
 
 
    1893461          964/G01             F          591,500.00         ZZ
                                         360        591,500.00          1
    1349 RIDGETOP LANE                 6.875          3,885.73         59
                                       6.625          3,885.73    1,017,000.00
    FULLERTON        CA   92831          5            03/11/99         00
    0431258755                           03           05/01/99          0
    52054                                O            04/01/29
    0
 
 
    1893462          455/G01             F          213,500.00         ZZ
                                         360        213,500.00          1
    6005 OLDE ATLANTA PARKWAY          7.125          1,438.39         88
                                       6.875          1,438.39      243,500.00
    SUWANEE          GA   30024          1            03/19/99         01
    0431265982                           03           05/01/99         25
    83723                                O            04/01/29
    0
 
 
    1893463          356/G01             F          310,000.00         ZZ
                                         360        310,000.00          1
    1369 VALDEZ WAY                    7.625          2,194.17         73
                                       7.375          2,194.17      425,000.00
    FREMONT          CA   94539          5            02/26/99         00
    0431261064                           05           05/01/99          0
    2727246                              O            04/01/29
    0
 
 
    1893465          026/G01             F          296,910.00         ZZ
                                         360        296,910.00          1
    1436 RIDGEMERE LANE                6.875          1,950.49         90
                                       6.625          1,950.49      329,900.00
    WINSTON-SALEM    NC   27106          1            03/19/99         12
    0431275866                           03           05/01/99         25
    0200478991                           O            04/01/29
    0
 
 
    1893470          F27/F27             F          327,750.00         ZZ
                                         360        327,750.00          1
    2103 TYSONS EXECUTIVE COURT        6.875          2,153.09         80
                                       6.625          2,153.09      409,720.00
    DUNN LORING      VA   22027          1            03/11/99         00
    6060019914                           03           05/01/99          0
    6060019914                           O            04/01/29
    0
1
 
 
 
 
    1893473          E82/G01             F          141,794.76         ZZ
                                         346        141,149.20          1
    20122 CALDWELL COURT               7.000            954.75         79
                                       6.750            954.75      180,000.00
    EMPIRE TOWNSHIP  MN   55024          4            10/05/98         00
    0400056073                           05           12/01/98          0
    0400056073                           O            09/01/27
    0
 
 
    1893492          E82/G01             F          281,456.98         ZZ
                                         345        281,219.70          1
    5924 BRADBURY COURT                7.375          1,967.07         80
                                       7.125          1,967.07      355,000.00
    INVER GROVE HEI  MN   55076          4            01/04/99         00
    0400070132                           05           04/01/99          0
    0400070132                           O            12/01/27
    0
 
 
    1893496          950/G01             F          296,500.00         G
                                         360        296,500.00          1
    29012 140TH AVENUE SOUTHEAST       7.500          2,073.18         75
                                       7.250          2,073.18      399,900.00
    AUBURN           WA   98092          1            03/11/99         00
    0431260454                           05           05/01/99          0
    100990301007                         O            04/01/29
    0
 
 
    1893515          J95/J95             F          338,000.00         ZZ
                                         360        337,401.92          1
    3717 N DITTMAR ROAD                6.625          2,164.26         67
                                       6.375          2,164.26      510,000.00
    ARLINGTON        VA   22207          2            01/21/99         00
    0016503047                           05           03/01/99          0
    0016503047                           O            02/01/29
    0
 
 
    1893517          665/G01             F          360,000.00         ZZ
                                         360        360,000.00          1
    43558 SOUTHERLAND WAY              6.875          2,364.94         58
                                       6.625          2,364.94      625,000.00
    FREMONT          CA   94539          1            03/10/99         00
    0431261601                           03           05/01/99          0
    9901228716                           O            04/01/29
    0
 
 
    1893520          J95/J95             F          420,000.00         ZZ
                                         360        419,647.15          1
1
 
 
    2036 WELSH VALLEY ROAD             6.875          2,759.10         80
                                       6.625          2,759.10      525,000.00
    PHOENIXVILLE     PA   19460          1            02/26/99         00
    0014045884                           05           04/01/99          0
    0014045884                           O            03/01/29
    0
 
 
    1893523          G81/G01             F          265,200.00         ZZ
                                         360        265,200.00          1
    7480 SW 147 STREET                 7.375          1,831.67         80
                                       7.125          1,831.67      331,500.00
    MIAMI            FL   33158          1            03/18/99         00
    0431263672                           05           05/01/99          0
    021902088                            O            04/01/29
    0
 
 
    1893526          E85/G01             F          392,000.00         ZZ
                                         360        392,000.00          1
    120 EVERGREEN AVENUE               7.000          2,607.99         80
                                       6.750          2,607.99      490,000.00
    MILL VALLEY      CA   94941          1            03/11/99         00
    0431276732                           05           05/01/99          0
    9604833                              O            04/01/29
    0
 
 
    1893528          J95/J95             F          392,000.00         ZZ
                                         360        391,701.72          1
    3204 CUMBRIAN COURT                7.375          2,707.45         80
                                       7.125          2,707.45      490,000.00
    WALNUT CREEK     CA   94596          1            02/10/99         00
    0016582611                           05           04/01/99          0
    0016582611                           O            03/01/29
    0
 
 
    1893529          G81/G01             F          441,000.00         ZZ
                                         360        441,000.00          1
    122 FIESTA WAY                     7.125          2,971.10         80
                                       6.875          2,971.10      558,000.00
    FT LAUDERDALE    FL   33301          2            03/11/99         00
    0431263748                           05           05/01/99          0
    021902121                            O            04/01/29
    0
 
 
    1893534          J95/J95             F          284,000.00         ZZ
                                         360        283,743.25          1
    12738 HEATHERFORD PLACE            6.500          1,795.08         80
                                       6.250          1,795.08      355,000.00
    FAIRFAX          VA   22030          2            02/23/99         00
    0009716820                           03           04/01/99          0
1
 
 
    0009716820                           O            03/01/29
    0
 
 
    1893542          J95/J95             F          415,000.00         ZZ
                                         360        414,642.69          1
    338 DELIGHT MEADOWS ROAD           6.750          2,691.69         80
                                       6.500          2,691.69      520,000.00
    REISTERSTOWN     MD   21136          2            02/18/99         00
    0009706458                           05           04/01/99          0
    0009706458                           O            03/01/29
    0
 
 
    1893546          J95/J95             F          305,000.00         ZZ
                                         360        304,743.76          1
    5002 MARGARET COURT                6.875          2,003.64         66
                                       6.625          2,003.64      465,000.00
    ANNANDALE        VA   22003          2            03/01/99         00
    9701764                              05           04/01/99          0
    9701764                              O            03/01/29
    0
 
 
    1893550          J95/J95             F          497,000.00         ZZ
                                         360        496,592.61          1
    3021 BURNING TREE LN               7.000          3,306.56         78
                                       6.750          3,306.56      645,000.00
    CINCINNATI       OH   45237          2            02/22/99         00
    0009700196                           05           04/01/99          0
    0009700196                           O            03/01/29
    0
 
 
    1893552          J95/J95             F          355,000.00         ZZ
                                         360        354,736.54          1
    1709 HAGGIN GROVE WAY              7.500          2,482.21         71
                                       7.250          2,482.21      505,000.00
    CARMICHAEL       CA   95608          5            02/25/99         00
    0014272546                           05           04/01/99          0
    0014272546                           O            03/01/29
    0
 
 
    1893555          J95/J95             F          316,000.00         ZZ
                                         360        315,753.49          1
    1675 MANTON COURT                  7.250          2,155.68         80
                                       7.000          2,155.68      395,000.00
    CAMPBELL         CA   95008          2            02/18/99         00
    0016603482                           05           04/01/99          0
    0016603482                           O            03/01/29
    0
 
 
1
 
 
    1893556          J95/J95             F          431,600.00         ZZ
                                         360        429,498.15          1
    265 JASMINE WAY                    7.125          2,907.77         80
                                       6.875          2,907.77      539,500.00
    DANVILLE         CA   94506          1            09/15/98         00
    0013162755                           05           11/01/98          0
    0013162755                           O            10/01/28
    0
 
 
    1893557          B57/G01             F          150,000.00         ZZ
                                         360        150,000.00          1
    2276 DUANE STREET                  7.125          1,010.58         78
                                       6.875          1,010.58      192,500.00
    LOS ANGELES      CA   90039          1            03/16/99         00
    0431262096                           05           05/01/99          0
    9910687                              O            04/01/29
    0
 
 
    1893560          J95/J95             F          294,000.00         ZZ
                                         360        293,764.89          1
    16408 FREEMONT LANE                7.125          1,980.74         80
                                       6.875          1,980.74      367,500.00
    PURCELLVILLE     VA   20132          1            02/23/99         00
    9716184                              05           04/01/99          0
    9716184                              O            03/01/29
    0
 
 
    1893564          J95/J95             F          281,000.00         ZZ
                                         360        280,769.66          1
    6052 WEST GARY DRIVE               7.000          1,869.51         68
                                       6.750          1,869.51      415,000.00
    CHANDLER         AZ   85226          2            02/11/99         00
    0016335598                           03           04/01/99          0
    0016335598                           O            03/01/29
    0
 
 
    1893572          J95/J95             F          406,000.00         ZZ
                                         360        405,658.91          1
    651 EMERSON STREET                 6.875          2,667.13         75
                                       6.625          2,667.13      545,000.00
    DENVER           CO   80218          5            02/19/99         00
    0016640336                           05           04/01/99          0
    0016640336                           O            03/01/29
    0
 
 
    1893577          624/G01             F          323,000.00         ZZ
                                         360        323,000.00          1
    3048 MIWOK WAY                     7.125          2,176.11         72
                                       6.875          2,176.11      450,000.00
1
 
 
    CLAYTON          CA   94517          5            03/11/99         00
    0431260405                           05           05/01/99          0
    41001890016                          O            04/01/29
    0
 
 
    1893581          893/G01             F          423,000.00         ZZ
                                         360        423,000.00          1
    724 CASTLE HILL ROAD               7.250          2,885.61         74
                                       7.000          2,885.61      575,000.00
    REDWOOD CITY     CA   94061          2            03/17/99         00
    0431261015                           05           05/01/99          0
    99020894                             O            04/01/29
    0
 
 
    1893582          J95/J95             F          251,100.00         ZZ
                                         360        250,894.17          1
    1724 EAST 54TH STREET              7.000          1,670.58         93
    #M                                 6.750          1,670.58      270,000.00
    CHICAGO          IL   60615          1            02/19/99         10
    0016601171                           05           04/01/99         30
    0016601171                           O            03/01/29
    0
 
 
    1893585          893/G01             F          370,400.00         ZZ
                                         360        370,400.00          1
    1161 BROADWAY                      7.250          2,526.78         80
                                       7.000          2,526.78      463,000.00
    BELMONT          CA   94002          1            03/16/99         00
    0431261031                           05           05/01/99          0
    99020900                             O            04/01/29
    0
 
 
    1893588          J95/J95             F          412,000.00         ZZ
                                         360        411,694.23          1
    9503 NEUSE WAY                     7.500          2,880.77         72
                                       7.250          2,880.77      580,000.00
    GREAT FALLS      VA   22066          2            02/19/99         00
    0016611568                           05           04/01/99          0
    0016611568                           O            03/01/29
    0
 
 
    1893589          731/G01             F           99,400.00         ZZ
                                         360         99,400.00          1
    16836 113TH AVENUE SOUTHEAST       7.500            695.02         70
                                       7.250            695.02      142,000.00
    RENTON           WA   98055          2            03/15/99         00
    0431263698                           05           05/01/99          0
    230337358                            O            04/01/29
    0
1
 
 
 
 
    1893591          J95/J95             F          360,000.00         ZZ
                                         360        359,719.16          1
    2690 LAS AROMAS                    7.250          2,455.84         80
                                       7.000          2,455.84      450,000.00
    OAKLAND          CA   94611          1            02/23/99         00
    0016619801                           05           04/01/99          0
    0016619801                           O            03/01/29
    0
 
 
    1893602          J95/J95             F          310,250.00         ZZ
                                         360        310,001.89          1
    2265 SW TANNLER DRIVE              7.125          2,090.22         80
                                       6.875          2,090.22      387,870.00
    WEST LINN        OR   97068          1            02/23/99         00
    0016620031                           05           04/01/99          0
    0016620031                           O            03/01/29
    0
 
 
    1893607          J95/J95             F          262,500.00         ZZ
                                         360        262,290.07          1
    211 MUNSON STREET                  7.125          1,768.52         75
                                       6.875          1,768.52      352,000.00
    REHOBOTH BEACH   DE   19971          5            02/18/99         00
    0009700675                           05           04/01/99          0
    0009700675                           O            03/01/29
    0
 
 
    1893609          J95/J95             F          290,000.00         ZZ
                                         360        289,773.77          1
    15 GOSS POND ROAD                  7.250          1,978.31         77
                                       7.000          1,978.31      378,000.00
    UPTON            MA   01568          2            02/24/99         00
    0013827860                           05           04/01/99          0
    0013827860                           O            03/01/29
    0
 
 
    1893637          956/G01             F          320,000.00         ZZ
                                         360        319,737.70          1
    2396 CENTENNIAL DRIVE              7.000          2,128.97         80
                                       6.750          2,128.97      400,000.00
    GENOA            NV   89411          1            02/01/99         00
    0431262435                           05           04/01/99          0
    708120328                            O            03/01/29
    0
 
 
    1893641          956/G01             F          310,000.00         ZZ
                                         360        309,477.63          1
1
 
 
    64095 O B RILEY ROAD               6.875          2,036.48         60
                                       6.625          2,036.48      525,000.00
    BEND             OR   97701          2            01/26/99         00
    0431259142                           05           03/01/99          0
    1709010211                           O            02/01/29
    0
 
 
    1893646          956/G01             F          413,850.00         ZZ
                                         360        413,850.00          1
    3265 RESERVE COURT                 7.000          2,753.35         80
                                       6.750          2,753.35      517,339.00
    SAN JOSE         CA   95135          1            03/05/99         00
    0431261908                           05           05/01/99          0
    709020451                            O            04/01/29
    0
 
 
    1893648          956/G01             F          399,500.00         ZZ
                                         360        398,874.83          1
    13199 MCDOLE STREET                7.250          2,725.29         75
                                       7.000          2,725.29      535,000.00
    SARATOGA         CA   95070          5            01/26/99         00
    0431261379                           05           03/01/99          0
    109010299                            O            02/01/29
    0
 
 
    1893652          956/G01             F          300,000.00         ZZ
                                         360        300,000.00          1
    2111 OCASO CAMINO                  7.250          2,046.53         54
                                       7.000          2,046.53      560,000.00
    FREMONT          CA   94539          2            03/11/99         00
    0431261346                           03           05/01/99          0
    208100330                            O            04/01/29
    0
 
 
    1893655          956/G01             F          360,000.00         ZZ
                                         360        360,000.00          1
    1999 TALL PINE CIRCLE              7.250          2,455.83         77
                                       7.000          2,455.83      470,000.00
    SANTA ROSA       CA   95403          2            03/15/99         00
    0431261411                           03           05/01/99          0
    809030309                            O            04/01/29
    0
 
 
    1893658          956/G01             F          440,000.00         ZZ
                                         360        439,621.17          1
    190 MELVILLE AVENUE                6.750          2,853.83         61
                                       6.500          2,853.83      730,000.00
    SAN ANSELMO      CA   94960          2            02/03/99         00
    0431259936                           05           04/01/99          0
1
 
 
    808120190                            O            03/01/29
    0
 
 
    1893661          956/G01             F          304,000.00         ZZ
                                         360        304,000.00          1
    386 VELARDE STREET                 7.000          2,022.52         60
                                       6.750          2,022.52      514,000.00
    MOUNTAIN VIEW    CA   94041          1            03/05/99         00
    0431261163                           05           05/01/99          0
    809020694                            O            04/01/29
    0
 
 
    1893663          956/G01             F          310,000.00         ZZ
                                         360        309,733.10          1
    806 PACHECO DRIVE                  6.750          2,010.65         66
                                       6.500          2,010.65      471,000.00
    MILPITAS         CA   95035          2            02/08/99         00
    0431261353                           05           04/01/99          0
    109020038                            O            03/01/29
    0
 
 
    1893666          956/G01             F          360,000.00         ZZ
                                         360        360,000.00          1
    1806 PENWOOD STREET                6.875          2,364.94         79
                                       6.625          2,364.94      458,393.00
    SAN JOSE         CA   95133          1            03/05/99         00
    0431261247                           05           05/01/99          0
    709020340                            O            04/01/29
    0
 
 
    1893668          956/G01             F          287,000.00         ZZ
                                         360        287,000.00          1
    5821 CHATEAU PLACE                 7.000          1,909.42         80
                                       6.750          1,909.42      360,000.00
    STILLWATER       OK   74075          2            03/09/99         00
    0431259209                           03           05/01/99          0
    1609020385                           O            04/01/29
    0
 
 
    1893683          638/G01             F          324,000.00         ZZ
                                         360        324,000.00          1
    13022 SOUTH REDBERRY CIRCLE        7.375          2,237.79         80
                                       7.125          2,237.79      405,000.00
    DRAPER           UT   84020          5            03/10/99         00
    0431261718                           05           05/01/99          0
    08851066                             O            04/01/29
    0
 
 
1
 
 
    1893687          638/G01             F          122,000.00         ZZ
                                         360        122,000.00          1
    5056 SMITH ROAD                    7.000            811.67         79
                                       6.750            811.67      155,000.00
    MARIPOSA         CA   95338          2            03/04/99         00
    0431260934                           05           05/01/99          0
    08857153                             O            04/01/29
    0
 
 
    1893690          638/G01             F          158,000.00         ZZ
                                         360        158,000.00          1
    3860 CRESTSTONE PLACE              7.625          1,118.31         61
                                       7.375          1,118.31      260,000.00
    SAN DIEGO        CA   92130          2            03/11/99         00
    0431260793                           01           05/01/99          0
    08856117                             O            04/01/29
    0
 
 
    1893708          638/G01             F          160,000.00         ZZ
                                         360        160,000.00          1
    2603 99TH AVENUE                   7.250          1,091.48         80
                                       7.000          1,091.48      200,000.00
    OAKLAND          CA   94605          5            03/03/99         00
    0431262476                           05           05/01/99          0
    08861804                             O            04/01/29
    0
 
 
    1893711          638/G01             F          139,300.00         ZZ
                                         360        139,300.00          2
    206 NORTH SHEPPARD STREET          7.250            950.27         70
                                       7.000            950.27      199,000.00
    RICHMOND         VA   23220          1            03/15/99         00
    0431262468                           05           05/01/99          0
    08860263                             O            04/01/29
    0
 
 
    1893715          638/G01             F          320,000.00         ZZ
                                         360        320,000.00          1
    18707 FAIRFAX LANE                 7.000          2,128.97         66
                                       6.750          2,128.97      485,000.00
    HUNTINGTON BEAC  CA   92648          5            03/11/99         00
    0431262252                           03           05/01/99          0
    08861899                             O            04/01/29
    0
 
 
    1893716          638/G01             F           77,900.00         ZZ
                                         360         77,900.00          1
    48 GODDARD MEMORIAL DRIVE          7.375            538.04         95
                                       7.125            538.04       82,000.00
1
 
 
    WORCESTER        MA   01603          2            03/11/99         10
    0431262161                           04           05/01/99         30
    08859925                             O            04/01/29
    0
 
 
    1893725          H29/G01             F          500,000.00         ZZ
                                         360        500,000.00          1
    52 HILLCREST PARKWAY               7.125          3,368.60         71
                                       6.875          3,368.60      710,000.00
    WINCHESTER       MA   01890          2            03/18/99         00
    0431266071                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1893726          H29/G01             F          252,000.00         ZZ
                                         360        252,000.00          1
    4 WILLARD LANE                     7.000          1,676.57         75
                                       6.750          1,676.57      338,000.00
    LYNNFIELD        MA   01940          2            03/18/99         00
    0431266105                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1893727          H29/G01             F          284,100.00         ZZ
                                         360        284,100.00          1
    19 ADAMS STREET                    7.375          1,962.21         67
                                       7.125          1,962.21      425,000.00
    BROOKLINE        MA   02446          2            03/18/99         00
    0431266063                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1893729          M76/G01             F          172,425.00         ZZ
                                         360        172,425.00          1
    248 CHEROKEE ROAD                  7.375          1,190.90         72
                                       7.125          1,190.90      240,000.00
    NASHVILLE        TN   37205          1            03/18/99         00
    0431263821                           05           05/01/99          0
    891058                               O            04/01/29
    0
 
 
    1893772          638/G01             F          300,000.00         ZZ
                                         360        300,000.00          1
    186 SCRIBNER AVENUE                7.000          1,995.91         75
                                       6.750          1,995.91      400,000.00
    NORWALK          CT   06854          5            03/03/99         00
    0431259886                           05           05/01/99          0
    8850803                              O            04/01/29
    0
1
 
 
 
 
    1893774          J95/J95             F          315,000.00         ZZ
                                         360        313,210.48          1
    267 207TH AVENUE NE                7.250          2,148.86         75
                                       7.000          2,148.86      421,000.00
    REDMOND          WA   98053          2            09/14/98         00
    0013351515                           05           11/01/98          0
    0013351515                           O            10/01/28
    0
 
 
    1893775          F88/G01             F          460,000.00         ZZ
                                         360        460,000.00          1
    19030 SHADOW RIDGE LANE            7.250          3,138.01         77
                                       7.000          3,138.01      600,000.00
    YORBA LINDA      CA   92886          5            03/16/99         00
    0431263094                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1893776          638/G01             F          126,400.00         ZZ
                                         360        126,400.00          1
    2645 ELMWOOD DRIVE                 7.500            883.81         80
                                       7.250            883.81      158,000.00
    SYLVANIA TOWNSH  OH   43560          1            03/10/99         00
    0431259852                           05           05/01/99          0
    8855246                              O            04/01/29
    0
 
 
    1893777          J95/J95             F          408,500.00         ZZ
                                         360        408,156.80          1
    925 SW 61ST DRIVE                  6.875          2,683.56         79
                                       6.625          2,683.56      520,000.00
    PORTLAND         OR   97221          2            02/16/99         00
    0016610321                           05           04/01/99          0
    0016610321                           O            03/01/29
    0
 
 
    1893778          956/G01             F          424,000.00         ZZ
                                         360        423,669.24          1
    7101 N CORRIDA DE VENADO           7.250          2,892.43         80
                                       7.000          2,892.43      530,000.00
    TUCSON           AZ   85718          1            02/19/99         00
    0431260801                           05           04/01/99          0
    987178                               O            03/01/29
    0
 
 
    1893779          956/G01             F          285,000.00         ZZ
                                         360        284,554.01          1
1
 
 
    1017 SOUTH DANIEL WAY              7.250          1,944.20         65
                                       7.000          1,944.20      445,000.00
    SAN JOSE         CA   95128          5            01/13/99         00
    0431266014                           05           03/01/99          0
    1108120078                           O            02/01/29
    0
 
 
    1893780          J95/J95             F          313,000.00         ZZ
                                         360        312,510.17          1
    5107 JUGLAN COURT                  7.250          2,135.22         87
                                       7.000          2,135.22      360,000.00
    CENTREVILLE      VA   20120          2            01/22/99         04
    0016540809                           05           03/01/99         25
    0016540809                           O            02/01/29
    0
 
 
    1893781          J95/J95             F          283,500.00         ZZ
                                         360        283,267.62          1
    2186 HOUSTON PASS COVE             7.000          1,886.13         90
                                       6.750          1,886.13      315,000.00
    COLLIERVILLE     TN   38017          1            02/26/99         01
    0015096886                           05           04/01/99         25
    0015096886                           O            03/01/29
    0
 
 
    1893784          J95/J95             F          282,150.00         ZZ
                                         360        281,907.07          1
    106 KENNETT ROAD                   6.750          1,830.02         95
                                       6.500          1,830.02      297,000.00
    OLD HICKORY      TN   37138          1            02/26/99         10
    0015062235                           05           04/01/99         30
    0015062235                           O            03/01/29
    0
 
 
    1893785          638/G01             F          102,400.00         ZZ
                                         360        102,400.00          1
    28501 AVENIDA DIOSA                7.000            681.27         80
                                       6.750            681.27      128,000.00
    CATHEDRAL CITY   CA   92234          1            03/01/99         00
    0431260264                           05           05/01/99          0
    8855320                              O            04/01/29
    0
 
 
    1893786          J95/J95             F          315,000.00         ZZ
                                         360        314,741.80          1
    314 FAWN CT                        7.000          2,095.70         63
                                       6.750          2,095.70      500,000.00
    BRANDENBURG      KY   40108          5            02/11/99         00
    0016500555                           05           04/01/99          0
1
 
 
    0016500555                           O            03/01/29
    0
 
 
    1893789          J95/J95             F          256,500.00         ZZ
                                         360        256,284.50          1
    2764 NE LINDSEY DRIVE              6.875          1,685.03         95
                                       6.625          1,685.03      270,000.00
    HILLSBORO        OR   97124          1            02/23/99         21
    0016627820                           03           04/01/99         30
    0016627820                           O            03/01/29
    0
 
 
    1893791          J95/J95             F          296,400.00         ZZ
                                         360        296,157.04          1
    3305 LYNCREST COURT                7.000          1,971.96         95
                                       6.750          1,971.96      312,000.00
    BURTONSVILLE     MD   20866          1            02/24/99         10
    0014048219                           03           04/01/99         30
    0014048219                           O            03/01/29
    0
 
 
    1893793          638/G01             F          632,000.00         ZZ
                                         360        632,000.00          1
    9201 WHITE TAIL DRIVE              7.125          4,257.90         67
                                       6.875          4,257.90      950,000.00
    LAS VEGAS        NV   89134          5            03/08/99         00
    0431260165                           03           05/01/99          0
    8859841                              O            04/01/29
    0
 
 
    1893794          J95/J95             F          314,000.00         ZZ
                                         360        313,742.62          1
    16134 WOODBRIDGE COURT             7.000          2,089.05         58
                                       6.750          2,089.05      550,000.00
    TRUCKEE          CA   96161          2            02/18/99         00
    0016592461                           05           04/01/99          0
    0016592461                           O            03/01/29
    0
 
 
    1893795          638/G01             F          102,000.00         ZZ
                                         360        102,000.00          1
    56 GEORGE AVENUE                   7.000            678.61         67
                                       6.750            678.61      154,000.00
    MIDDLESEX        NJ   08846          2            03/04/99         00
    0431259811                           05           05/01/99          0
    8855917                              O            04/01/29
    0
 
 
1
 
 
    1893796          J95/J95             F          300,000.00         ZZ
                                         360        299,747.96          1
    2986 HOPE MILLS LANE               6.875          1,970.79         80
                                       6.625          1,970.79      375,000.00
    ADAMSTOWN        MD   21710          1            02/26/99         00
    0009679184                           05           04/01/99          0
    0009679184                           O            03/01/29
    0
 
 
    1893798          J95/J95             F          368,000.00         ZZ
                                         360        367,698.36          1
    801 ELMDALE ROAD                   7.000          2,448.31         78
                                       6.750          2,448.31      475,000.00
    GLENVIEW         IL   60025          2            02/24/99         00
    0012669016                           05           04/01/99          0
    0012669016                           O            03/01/29
    0
 
 
    1893800          J95/J95             F          262,800.00         ZZ
                                         360        262,584.58          1
    11224 KORMAN DRIVE                 7.000          1,748.42         80
                                       6.750          1,748.42      328,500.00
    POTOMAC          MD   20854          1            02/26/99         00
    0016603730                           05           04/01/99          0
    0016603730                           O            03/01/29
    0
 
 
    1893801          J95/J95             F          279,200.00         ZZ
                                         360        278,965.43          1
    17325 DOUGLAS STREET               6.875          1,834.15         75
                                       6.625          1,834.15      374,500.00
    OMAHA            NE   68118          2            02/24/99         00
    0016604423                           05           04/01/99          0
    0016604423                           O            03/01/29
    0
 
 
    1893804          J95/J95             F          280,000.00         ZZ
                                         360        279,781.58          1
    6904 TRILLUM LANE                  7.250          1,910.09         80
                                       7.000          1,910.09      350,000.00
    SPRINGFIELD      VA   22152          2            02/24/99         00
    0014046858                           03           04/01/99          0
    0014046858                           O            03/01/29
    0
 
 
    1893807          J95/J95             F          251,200.00         ZZ
                                         360        251,004.04          1
    20888 WATERBEACH PLACE             7.250          1,713.63         80
                                       7.000          1,713.63      314,000.00
1
 
 
    STERLING         VA   20165          2            02/22/99         00
    009717745                            03           04/01/99          0
    009717745                            O            03/01/29
    0
 
 
    1893809          J95/J95             F          291,600.00         ZZ
                                         360        291,355.02          1
    40936 CANTO PLACE                  6.875          1,915.61         80
                                       6.625          1,915.61      364,500.00
    FREMONT          CA   94539          1            02/24/99         00
    0016641540                           05           04/01/99          0
    0016641540                           O            03/01/29
    0
 
 
    1893810          J95/J95             F          330,000.00         ZZ
                                         360        329,715.87          1
    29 PATRICIA DRIVE                  6.750          2,140.38         68
                                       6.500          2,140.38      487,400.00
    SHELTON          CT   06484          2            03/01/99         00
    0016650715                           05           04/01/99          0
    0016650715                           O            03/01/29
    0
 
 
    1893820          N71/G01             F          103,000.00         ZZ
                                         360        103,000.00          1
    6331 SW 42ND TERRACE               7.250            702.64         75
                                       7.000            702.64      138,000.00
    SOUTH MIAMI      FL   33155          2            03/22/99         00
    0431264449                           05           05/01/99          0
    28830399                             O            04/01/29
    0
 
 
    1893829          685/G01             F          266,250.00         ZZ
                                         360        266,250.00          1
    20902 SPARKMAN LANE                7.250          1,816.30         75
                                       7.000          1,816.30      355,000.00
    HUNTINGTON BEAC  CA   92646          2            03/19/99         00
    0431262419                           05           05/01/99          0
    117872                               O            04/01/29
    0
 
 
    1893832          685/G01             F          405,000.00         ZZ
                                         360        405,000.00          1
    1040 PEBBLE BEACH DRIVE            7.000          2,694.48         72
                                       6.750          2,694.48      564,277.00
    CLAYTON          CA   94517          1            03/16/99         00
    0431262021                           05           05/01/99          0
    115222                               O            04/01/29
    0
1
 
 
 
 
    1893841          B57/G01             F          304,000.00         ZZ
                                         360        304,000.00          1
    6451 JERSEY CIRCLE                 6.875          1,997.06         80
                                       6.625          1,997.06      380,000.00
    HUNTINGTON BEAC  CA   92647          1            03/15/99         00
    0431269687                           05           05/01/99          0
    99F0018                              O            04/01/29
    0
 
 
    1893844          B57/G01             F          132,000.00         ZZ
                                         360        132,000.00          1
    624 SOUTH 5TH AVENUE               7.500            922.96         80
                                       7.250            922.96      165,000.00
    MONROVIA         CA   91016          2            03/16/99         00
    0431264894                           05           05/01/99          0
    9920195                              O            04/01/29
    0
 
 
    1893845          470/G01             F          329,750.00         ZZ
                                         360        329,750.00          1
    602 WEST BROWN COURT               7.000          2,193.84         80
                                       6.750          2,193.84      412,231.00
    ALTADENA AREA    CA   91001          1            03/01/99         00
    0431262534                           03           05/01/99          0
    96030242                             O            04/01/29
    0
 
 
    1893847          069/G01             F          204,800.00         ZZ
                                         360        204,800.00          1
    5733 OSO AVENUE                    7.375          1,414.50         69
                                       7.125          1,414.50      300,000.00
    LOS ANGELES      CA   91367          2            03/12/99         00
    0431264258                           05           05/01/99          0
    236233654                            O            04/01/29
    0
 
 
    1893875          811/G01             F          216,000.00         ZZ
                                         360        216,000.00          1
    5332 AUDUBON PARK COURT            7.250          1,473.50         80
                                       7.000          1,473.50      270,000.00
    FREMONT          CA   94538          1            03/11/99         00
    0431276468                           05           05/01/99          0
    FM02209493                           O            04/01/29
    0
 
 
    1893883          811/G01             F          264,700.00         ZZ
                                         360        264,700.00          1
1
 
 
    3626 SWEET BROOK COURT             7.375          1,828.22         80
                                       7.125          1,828.22      330,900.00
    SAN JOSE         CA   95111          1            03/09/99         00
    0431270818                           05           05/01/99          0
    FM02104807                           O            04/01/29
    0
 
 
    1893885          K68/G01             F          264,800.00         ZZ
                                         360        264,800.00          1
    303 GRAYLING BOULEVARD             7.000          1,761.73         80
                                       6.750          1,761.73      331,000.00
    MADISON          MS   39110          2            03/12/99         00
    0431261692                           05           05/01/99          0
    38484                                O            04/01/29
    0
 
 
    1893888          G12/G12             F          345,000.00         ZZ
                                         360        345,000.00          1
    101 MARIA DRIVE                    7.250          2,353.51         54
                                       7.000          2,353.51      650,000.00
    WYOMING          PA   18644          2            03/18/99         00
    118000077                            05           05/01/99          0
    118000077                            O            04/01/29
    0
 
 
    1893890          E82/G01             F          314,500.00         ZZ
                                         360        314,500.00          1
    15515 PINEHURST FOREST DRIVE       7.250          2,145.44         87
                                       7.000          2,145.44      365,000.00
    MONTPELIER       VA   23193          2            03/22/99         04
    0400189353                           05           05/01/99         25
    1512611                              O            04/01/29
    0
 
 
    1893893          B57/G01             F          386,000.00         ZZ
                                         360        386,000.00          1
    2140 PATRICIA AVENUE               7.125          2,600.55         80
                                       6.875          2,600.55      482,500.00
    LOS ANGELES      CA   90025          1            03/12/99         00
    0431264662                           05           05/01/99          0
    9920272                              O            04/01/29
    0
 
 
    1893901          F03/G01             F           79,200.00         ZZ
                                         360         79,200.00          1
    7040 EAST GIRARD AVENUE            7.500            553.78         80
    #405                               7.250            553.78       99,000.00
    DENVER           CO   80224          1            03/23/99         00
    0431265727                           01           05/01/99          0
1
 
 
    DEN13308                             O            04/01/29
    0
 
 
    1893907          593/G01             F          114,750.00         ZZ
                                         360        114,750.00          1
    767 NORTH 150 WEST                 7.250            782.80         85
                                       7.000            782.80      135,000.00
    SPRINGVILLE      UT   84663          2            03/12/99         12
    0431264100                           05           05/01/99         12
    0007066566                           O            04/01/29
    0
 
 
    1893908          593/G01             F          116,700.00         ZZ
                                         360        116,700.00          1
    1613 WEST 525 SOUTH                7.250            796.10         85
                                       7.000            796.10      138,000.00
    LEHI             UT   84043          2            03/08/99         12
    0431264134                           05           05/01/99         12
    007314404                            O            04/01/29
    0
 
 
    1893909          593/G01             F          113,840.00         ZZ
                                         360        113,657.37          1
    1718 N 1975 W                      7.125            766.97         84
                                       6.875            766.97      137,000.00
    LEHI             UT   84043          2            01/28/99         12
    0431264183                           05           03/01/99         12
    0007312747                           O            02/01/29
    0
 
 
    1893924          B75/G01             F          284,000.00         ZZ
                                         360        284,000.00          1
    23 BUTTERFIELD ROAD                7.500          1,985.77         95
                                       7.250          1,985.77      300,000.00
    LAKE ZURICH      IL   60047          2            03/11/99         11
    0431264027                           05           05/01/99         30
    6379044                              O            04/01/29
    0
 
 
    1893927          A50/A50             F          413,600.00         ZZ
                                         360        413,252.52          1
    4122 QUAIL HOLLOW ROAD             6.875          2,717.06         80
                                       6.625          2,717.06      517,000.00
    ALBANY           GA   31707          2            02/22/99         00
    118785                               05           04/01/99          0
    118785                               O            03/01/29
    0
 
 
1
 
 
    1893954          J95/J95             F          274,800.00         ZZ
                                         360        274,569.13          1
    12710 FOX WOODS DRIVE              6.875          1,805.25         79
                                       6.625          1,805.25      350,000.00
    HERNDON          VA   20171          2            02/23/99         00
    9710294                              03           04/01/99          0
    9710294                              O            03/01/29
    0
 
 
    1893957          J95/J95             F          267,000.00         ZZ
                                         360        266,775.68          1
    6207 NORTH 18TH ROAD               6.875          1,754.01         77
                                       6.625          1,754.01      349,000.00
    ARLINGTON        VA   22205          2            02/23/99         00
    0016600132                           05           04/01/99          0
    0016600132                           O            03/01/29
    0
 
 
    1893961          J95/J95             F          405,000.00         ZZ
                                         360        404,668.02          1
    16 PATRIOT WAY                     7.000          2,694.48         74
                                       6.750          2,694.48      550,000.00
    NORTH READING    MA   01864          2            02/22/99         00
    0016594822                           05           04/01/99          0
    0016594822                           O            03/01/29
    0
 
 
    1893969          J95/J95             F          400,000.00         ZZ
                                         360        399,655.60          1
    11375 HEATHERTOE LANE              6.750          2,594.40         75
                                       6.500          2,594.40      539,000.00
    COLUMBIA         MD   21044          2            02/19/99         00
    016588352                            05           04/01/99          0
    016588352                            O            03/01/29
    0
 
 
    1893972          J95/J95             F          250,000.00         ZZ
                                         360        250,000.00          1
    9353 REED WAY                      6.875          1,642.32         80
                                       6.625          1,642.32      315,000.00
    WESTMINSTER      CO   80021          2            03/02/99         00
    0013863766                           03           05/01/99          0
    0013863766                           O            04/01/29
    0
 
 
    1893976          J95/J95             F          254,250.00         ZZ
                                         360        254,250.00          1
    9285 DAVIS DRIVE                   6.500          1,607.04         74
                                       6.250          1,607.04      344,265.00
1
 
 
    LORTON           VA   22079          1            03/02/99         00
    9711342                              03           05/01/99          0
    9711342                              O            04/01/29
    0
 
 
    1893978          J95/J95             F          268,000.00         ZZ
                                         360        267,769.25          1
    2660 RENAISSANCE COURT             6.750          1,738.25         67
                                       6.500          1,738.25      400,000.00
    WEST LINN        OR   97068          2            02/18/99         00
    16602963                             05           04/01/99          0
    16602963                             O            03/01/29
    0
 
 
    1893980          J95/J95             F          600,000.00         ZZ
                                         360        599,508.18          1
    10655 CLUBHOUSE LANE               7.000          3,991.82         54
                                       6.750          3,991.82    1,125,000.00
    CUPERTINO        CA   95014          2            02/18/99         00
    0016579864                           05           04/01/99          0
    0016579864                           O            03/01/29
    0
 
 
    1893981          J95/J95             F          367,000.00         ZZ
                                         360        366,699.16          1
    32313 DERBY STREET                 7.000          2,441.67         79
                                       6.750          2,441.67      470,000.00
    UNION CITY       CA   94587          2            02/18/99         00
    0016348773                           05           04/01/99          0
    0016348773                           O            03/01/29
    0
 
 
    1893984          J95/J95             F          340,000.00         ZZ
                                         360        339,734.77          1
    44049 LAUREL CANYON WAY            7.250          2,319.40         53
                                       7.000          2,319.40      642,000.00
    FREMONT          CA   94539          2            02/16/99         00
    0016588527                           03           04/01/99          0
    0016588527                           O            03/01/29
    0
 
 
    1893991          J95/J95             F          315,000.00         ZZ
                                         360        315,000.00          1
    374 CURIE DRIVE                    7.250          2,148.86         75
                                       7.000          2,148.86      420,000.00
    SAN JOSE         CA   95123          5            02/26/99         00
    0016606824                           05           05/01/99          0
    0016606824                           O            04/01/29
    0
1
 
 
 
 
    1893996          J95/J95             F          271,000.00         ZZ
                                         360        270,766.67          1
    9559 COLE DRIVE                    6.750          1,757.71         89
                                       6.500          1,757.71      305,000.00
    STOCKTON         CA   95212          2            02/18/99         12
    0016601783                           05           04/01/99         25
    0016601783                           O            03/01/29
    0
 
 
    1894018          638/G01             F          142,400.00         ZZ
                                         360        142,400.00          1
    25 MEADOW RUN                      7.125            959.38         80
                                       6.875            959.38      178,000.00
    ROUND ROCK       TX   78664          1            03/18/99         00
    0431263177                           03           05/01/99          0
    08843202                             O            04/01/29
    0
 
 
    1894020          J95/J95             F          320,000.00         ZZ
                                         360        319,744.10          1
    6327 SNELL AVENUE                  7.125          2,155.90         75
                                       6.875          2,155.90      430,000.00
    SAN JOSE         CA   95123          1            02/22/99         00
    0016606584                           05           04/01/99          0
    0016606584                           O            03/01/29
    0
 
 
    1894022          638/G01             F          260,000.00         ZZ
                                         360        260,000.00          1
    2120 MONTEREY AVENUE               7.125          1,751.67         80
                                       6.875          1,751.67      325,000.00
    SANTA CLARA      CA   95051          1            03/10/99         00
    0431263557                           05           05/01/99          0
    08861221                             O            04/01/29
    0
 
 
    1894025          J95/J95             F          308,000.00         ZZ
                                         360        307,753.69          1
    3300 ROYALE GLEN AVENUE            7.125          2,075.06         76
                                       6.875          2,075.06      408,000.00
    DAVIDSONVILLE    MD   21035          2            02/22/99         00
    0016563017                           05           04/01/99          0
    0016563017                           O            03/01/29
    0
 
 
    1894028          638/G01             F           80,000.00         ZZ
                                         360         80,000.00          1
1
 
 
    8501 CUSHMAN COURT                 7.625            566.23         54
                                       7.375            566.23      150,000.00
    NEW PORT RICHEY  FL   34654          1            03/10/99         00
    0431263045                           05           05/01/99          0
    08864437                             O            04/01/29
    0
 
 
    1894029          638/G01             F           60,800.00         ZZ
                                         360         60,800.00          1
    26 NORTH COLLINS                   7.500            425.12         80
                                       7.250            425.12       76,000.00
    SOUTH ELGIN      IL   60177          1            03/15/99         00
    0431263086                           05           05/01/99          0
    08854578                             O            04/01/29
    0
 
 
    1894033          638/G01             F           92,000.00         ZZ
                                         360         92,000.00          1
    266 TOWER ROAD                     7.625            651.17         74
                                       7.375            651.17      125,000.00
    GREENE TOWNSHIP  PA   16134          2            03/04/99         00
    0431263391                           05           05/01/99          0
    08862774                             O            04/01/29
    0
 
 
    1894035          638/G01             F          109,500.00         ZZ
                                         360        109,500.00          1
    4105 GUTHRIE                       7.625            775.03         80
                                       7.375            775.03      137,000.00
    PLANO            TX   75024          1            03/15/99         00
    0431263862                           05           05/01/99          0
    08846816                             O            04/01/29
    0
 
 
    1894036          664/G01             F          347,000.00         ZZ
                                         360        347,000.00          1
    2045 JENNIFER PLACE                7.500          2,426.28         74
                                       7.250          2,426.28      470,000.00
    CAMARILLO        CA   93012          2            03/10/99         00
    0431264399                           05           05/01/99          0
    3019551                              O            04/01/29
    0
 
 
    1894038          J95/J95             F          252,000.00         ZZ
                                         360        251,788.28          1
    6301 NORTH 75TH STREET             6.875          1,655.47         72
                                       6.625          1,655.47      350,000.00
    SCOTTSDALE       AZ   85250          1            02/23/99         00
    0016628554                           05           04/01/99          0
1
 
 
    0016628554                           O            03/01/29
    0
 
 
    1894039          638/G01             F          284,000.00         ZZ
                                         360        284,000.00          1
    806 PEARY LANE                     7.125          1,913.36         80
                                       6.875          1,913.36      355,000.00
    FOSTER CITY      CA   94404          1            03/10/99         00
    0431263540                           03           05/01/99          0
    08865607                             O            04/01/29
    0
 
 
    1894042          E23/G01             F          382,500.00         ZZ
                                         360        382,500.00          1
    13318 NORTH 76TH STREET            7.375          2,641.83         90
                                       7.125          2,641.83      425,000.00
    SCOTTSDALE       AZ   85260          1            03/22/99         04
    0431266220                           05           05/01/99         25
    40502674                             O            04/01/29
    0
 
 
    1894043          638/G01             F          275,000.00         ZZ
                                         360        275,000.00          1
    44 SKYTOP ROAD                     7.375          1,899.36         80
                                       7.125          1,899.36      343,750.00
    IPSWICH          MA   01938          1            03/08/99         00
    0431263953                           05           05/01/99          0
    08850261                             O            04/01/29
    0
 
 
    1894044          J95/J95             F          261,000.00         ZZ
                                         360        260,786.06          1
    4265 GREENRIDGE DRIVE              7.000          1,736.44         69
                                       6.750          1,736.44      380,000.00
    MARIETTA         GA   30062          1            02/12/99         00
    0010610236                           03           04/01/99          0
    0010610236                           O            03/01/29
    0
 
 
    1894048          638/G01             F          262,500.00         ZZ
                                         360        262,500.00          1
    2667 NORTH VISTA CREST ROAD        7.625          1,857.96         80
                                       7.375          1,857.96      330,000.00
    ORANGE           CA   92867          5            03/10/99         00
    0431263300                           03           05/01/99          0
    08865065                             O            04/01/29
    0
 
 
1
 
 
    1894049          J95/J95             F          292,000.00         ZZ
                                         360        291,748.59          1
    1724 LOVETTS POND LANE             6.750          1,893.91         80
                                       6.500          1,893.91      365,000.00
    VIRGINIA BEACH   VA   23454          5            02/19/99         00
    0016595993                           01           04/01/99          0
    0016595993                           O            03/01/29
    0
 
 
    1894051          J95/J95             F          648,000.00         ZZ
                                         360        647,494.49          1
    1436 VANCOUVER AVENUE              7.250          4,420.51         77
                                       7.000          4,420.51      850,000.00
    BURLINGAME       CA   94010          2            02/11/99         00
    0016582744                           05           04/01/99          0
    0016582744                           O            03/01/29
    0
 
 
    1894052          638/G01             F          285,600.00         ZZ
                                         360        285,600.00          1
    1031 HEDGEROW CIRCLE               6.500          1,805.19         80
                                       6.250          1,805.19      357,000.00
    UPPER MERION TO  PA   19087          5            03/12/99         00
    0431263250                           05           05/01/99          0
    08860151                             O            04/01/29
    0
 
 
    1894053          J95/J95             F          269,000.00         ZZ
                                         360        268,784.88          1
    4048 EAST WINDSONG STREET          7.125          1,812.31         73
                                       6.875          1,812.31      370,000.00
    SPRINGFIELD      MO   65809          2            02/22/99         00
    0016588774                           05           04/01/99          0
    0016588774                           O            03/01/29
    0
 
 
    1894059          J95/J95             F          314,000.00         ZZ
                                         360        313,742.62          1
    59 COLONIAL DRIVE                  7.000          2,089.05         83
                                       6.750          2,089.05      380,000.00
    MANSFIELD        MA   02048          2            02/20/99         10
    0016587552                           05           04/01/99         12
    0016587552                           O            03/01/29
    0
 
 
    1894060          638/G01             F          330,000.00         ZZ
                                         360        330,000.00          1
    3476 NOBLE ANVENUE                 7.375          2,279.23         75
                                       7.125          2,279.23      440,000.00
1
 
 
    SAN JOSE         CA   95132          1            03/08/99         00
    0431263839                           05           05/01/99          0
    08860070                             O            04/01/29
    0
 
 
    1894062          J95/J95             F          260,000.00         ZZ
                                         360        260,000.00          1
    10400 GREAT ARBOR DRIVE            6.875          1,708.02         73
                                       6.625          1,708.02      360,000.00
    POTOMAC          MD   20854          1            02/26/99         00
    9711953                              05           05/01/99          0
    9711953                              O            04/01/29
    0
 
 
    1894063          J95/J95             F          250,000.00         ZZ
                                         360        249,800.08          1
    1614 WEST 32ND PLACE               7.125          1,684.30         74
                                       6.875          1,684.30      340,000.00
    YUMA             AZ   85365          2            02/12/99         00
    0012254314                           05           04/01/99          0
    0012254314                           O            03/01/29
    0
 
 
    1894066          J95/J95             F          340,000.00         ZZ
                                         360        340,000.00          1
    6600 WEST 20TH STREET              6.875          2,233.56         76
    #20                                6.625          2,233.56      450,000.00
    GREELEY          CO   80634          1            03/05/99         00
    0013106570                           05           05/01/99          0
    0013106570                           O            04/01/29
    0
 
 
    1894069          J95/J95             F          320,000.00         ZZ
                                         360        319,750.36          1
    740 LAKE FRONT DRIVE               7.250          2,182.97         78
                                       7.000          2,182.97      415,000.00
    SACRAMENTO       CA   95831          2            02/17/99         00
    0016604316                           03           04/01/99          0
    0016604316                           O            03/01/29
    0
 
 
    1894073          638/G01             F          273,600.00         ZZ
                                         360        273,600.00          1
    520 PATTON AVENUE                  7.375          1,889.69         80
                                       7.125          1,889.69      342,000.00
    SAN JOSE         CA   95128          1            03/05/99         00
    0431263870                           05           05/01/99          0
    08859856                             O            04/01/29
    0
1
 
 
 
 
    1894075          J95/J95             F          640,000.00         ZZ
                                         360        639,475.39          1
    0019 ASPEN RIDGE LANE              7.000          4,257.94         50
                                       6.750          4,257.94    1,300,000.00
    EDWARDS          CO   81632          2            02/19/99         00
    0014055156                           03           04/01/99          0
    0014055156                           O            03/01/29
    0
 
 
    1894081          411/411             F          327,200.00         ZZ
                                         360        327,200.00          1
    199 MARLBOROUGH STREET             7.125          2,204.41         80
    UNIT 702                           6.875          2,204.41      409,000.00
    BOSTON           MA   02115          1            03/15/99         00
    20016443                             08           05/01/99          0
    20016443                             O            04/01/29
    0
 
 
    1894082          J95/J95             F          317,000.00         ZZ
                                         360        316,733.68          1
    126 12TH AVENUE                    6.875          2,082.47         69
                                       6.625          2,082.47      460,000.00
    SAN MATEO        CA   94402          2            02/08/99         00
    0016580706                           05           04/01/99          0
    0016580706                           O            03/01/29
    0
 
 
    1894084          J95/J95             F          324,000.00         ZZ
                                         360        324,000.00          1
    1220 PRISCILLA DRIVE               7.250          2,210.26         80
                                       7.000          2,210.26      410,000.00
    SAN JOSE         CA   95129          2            03/01/99         00
    0016599771                           05           05/01/99          0
    0016599771                           O            04/01/29
    0
 
 
    1894086          J95/J95             F          299,771.00         ZZ
                                         360        299,512.90          1
    1971 LAKE DRIVE                    6.750          1,944.31         79
                                       6.500          1,944.31      379,457.00
    LARKSPUR         CO   80118          1            02/25/99         00
    0016657496                           03           04/01/99          0
    0016657496                           O            03/01/29
    0
 
 
    1894091          638/G01             F          190,350.00         ZZ
                                         360        190,350.00          1
1
 
 
    5361 HILLFLOWER DRIVE              7.625          1,347.29         70
                                       7.375          1,347.29      271,950.00
    LIVERMORE        CA   94550          1            03/08/99         00
    0431262765                           05           05/01/99          0
    08852441                             O            04/01/29
    0
 
 
    1894093          638/G01             F          330,000.00         ZZ
                                         240        330,000.00          1
    13035 CAMINO DEL VALLE             7.000          2,558.49         80
                                       6.750          2,558.49      415,000.00
    POWAY            CA   92064          5            03/10/99         00
    0431263078                           05           05/01/99          0
    08862037                             O            04/01/19
    0
 
 
    1894098          638/G01             F          292,000.00         ZZ
                                         360        292,000.00          1
    270 LA COLINA DRIVE                7.375          2,016.77         80
                                       7.125          2,016.77      365,000.00
    REDLANDS         CA   92374          2            03/10/99         00
    0431263755                           05           05/01/99          0
    08862103                             O            04/01/29
    0
 
 
    1894099          638/G01             F          300,000.00         ZZ
                                         360        300,000.00          1
    3265 S TENAYA WAY                  7.250          2,046.53         60
                                       7.000          2,046.53      500,000.00
    LAS VEGAS        NV   89117          2            03/11/99         00
    0431264209                           05           05/01/99          0
    08861869                             O            04/01/29
    0
 
 
    1894104          638/G01             F          287,200.00         ZZ
                                         360        287,200.00          1
    5331 RADELE CT                     7.500          2,008.14         80
                                       7.250          2,008.14      359,000.00
    FREMOUNT         CA   94536          1            03/09/99         00
    0431263946                           05           05/01/99          0
    08862318                             O            04/01/29
    0
 
 
    1894105          638/G01             F          288,000.00         ZZ
                                         360        288,000.00          1
    3222 KIMBERLY DRIVE                7.125          1,940.31         75
                                       6.875          1,940.31      384,000.00
    MOUNT AIRY       MD   21771          5            03/10/99         00
    0431264043                           05           05/01/99          0
1
 
 
    8864396                              O            04/01/29
    0
 
 
    1894178          E82/G01             F          440,000.00         ZZ
                                         360        440,000.00          1
    935 SOUTH MONROE STREET            6.875          2,890.48         75
                                       6.625          2,890.48      590,000.00
    DENVER           CO   80209          2            03/18/99         00
    0400184222                           05           05/01/99          0
    1771513                              O            04/01/29
    0
 
 
    1894221          356/G01             F          299,000.00         ZZ
                                         360        299,000.00          1
    3372 BEL MIRA WAY                  7.500          2,090.66         77
                                       7.250          2,090.66      390,000.00
    SAN JOSE         CA   95135          2            03/02/99         00
    0431264555                           05           05/01/99          0
    2704823                              O            04/01/29
    0
 
 
    1894294          964/G01             F          430,000.00         ZZ
                                         360        430,000.00          1
    80 PALOMINO CIRCLE                 7.375          2,969.90         50
                                       7.125          2,969.90      870,000.00
    NOVATO           CA   94947          1            03/05/99         00
    0431264936                           05           05/01/99          0
    51469                                O            04/01/29
    0
 
 
    1894297          819/819             F          270,000.00         ZZ
                                         360        269,799.62          1
    1118 CHATEAU DR                    7.500          1,887.88         68
                                       7.250          1,887.88      400,000.00
    WEST CHESTER     PA   19382          5            02/22/99         00
    1670033                              05           04/01/99          0
    1670033                              O            03/01/29
    0
 
 
    1894304          F27/F27             F          464,000.00         ZZ
                                         360        464,000.00          1
    4002 WINTERSWEET COURT             7.000          3,087.01         80
                                       6.750          3,087.01      580,000.00
    ROCKVILLE        MD   20853          1            03/24/99         00
    6060033135                           05           05/01/99          0
    6060033135                           O            04/01/29
    0
 
 
1
 
 
    1894308          E66/E66             F          396,000.00         ZZ
                                         360        393,413.29          1
    120 WING HAVEN CIRCLE              7.125          2,667.93         80
                                       6.875          2,667.93      495,000.00
    WINSTON SALEM    NC   27106          2            07/24/98         00
    600424499                            05           09/01/98          0
    600424499                            O            08/01/28
    0
 
 
    1894311          420/G01             F          409,600.00         ZZ
                                         360        409,600.00          1
    40930 LOS PINOS                    7.125          2,759.56         80
                                       6.875          2,759.56      512,500.00
    FREMONT          CA   94539          1            03/10/99         00
    0431262500                           05           05/01/99          0
    0000409078                           O            04/01/29
    0
 
 
    1894316          420/G01             F          271,800.00         ZZ
                                         360        271,577.20          1
    15587 BITTNER ROAD                 7.000          1,808.30         75
                                       6.750          1,808.30      362,500.00
    OCCIDENTAL       CA   95465          1            02/23/99         00
    0431262385                           05           04/01/99          0
    0000410100                           O            03/01/29
    0
 
 
    1894318          420/G01             F          414,000.00         ZZ
                                         360        414,000.00          1
    100 EASTMAN COURT                  7.000          2,754.36         63
                                       6.750          2,754.36      660,000.00
    PETALUMA         CA   94952          2            03/04/99         00
    0431262195                           05           05/01/99          0
    0000410167                           O            04/01/29
    0
 
 
    1894319          E82/G01             F          365,000.00         ZZ
                                         360        365,000.00          1
    460 VASSAR AVENUE                  7.125          2,459.07         52
                                       6.875          2,459.07      715,000.00
    BERKELEY         CA   94708          2            03/22/99         00
    0400189973                           05           05/01/99          0
    1746590                              O            04/01/29
    0
 
 
    1894327          E66/E66             F          280,000.00         ZZ
                                         360        279,770.48          1
    905 SHADOWMERE COURT               7.000          1,862.85         74
                                       6.750          1,862.85      381,000.00
1
 
 
    WINSTON SALEM    NC   27104          1            02/17/99         00
    600476837                            05           04/01/99          0
    600476837                            O            03/01/29
    0
 
 
    1894337          E66/E66             F          350,000.00         ZZ
                                         360        349,068.48          1
    5804 LAUREL ROCK LANE              6.625          2,241.09         67
                                       6.375          2,241.09      529,000.00
    RALEIGH          NC   27613          2            01/07/99         00
    600466585                            05           02/01/99          0
    600466585                            O            01/01/29
    0
 
 
    1894341          E66/E66             F          350,000.00         ZZ
                                         360        349,155.35          1
    3712 FEWS FORD LANE                7.125          2,358.01         77
                                       6.875          2,358.01      460,000.00
    DURHAM           NC   27712          2            11/11/98         00
    600355353                            05           02/01/99          0
    600355353                            O            01/01/29
    0
 
 
    1894346          E82/G01             F          293,000.00         ZZ
                                         360        293,000.00          1
    551 HAMILTON AVENUE                7.375          2,023.68         80
                                       7.125          2,023.68      367,900.00
    MILPITAS         CA   95035          2            03/22/99         00
    0400191250                           05           05/01/99          0
    1523662                              O            04/01/29
    0
 
 
    1894354          E66/E66             F          326,400.00         ZZ
                                         360        326,132.45          1
    2705 TOWNEDGE COURT                7.000          2,171.55         80
                                       6.750          2,171.55      408,000.00
    RALEIGH          NC   27612          1            02/03/99         00
    600474725                            05           04/01/99          0
    600474725                            O            03/01/29
    0
 
 
    1894357          E82/G01             F          399,000.00         ZZ
                                         360        399,000.00          1
    631 NORTH 164TH CIRCLE             7.375          2,755.79         80
                                       7.125          2,755.79      503,000.00
    OMAHA            NE   68118          2            03/25/99         00
    0400194205                           05           05/01/99          0
    1623204                              O            04/01/29
    0
1
 
 
 
 
    1894388          819/819             F          300,000.00         ZZ
                                         360        299,771.72          1
    341 WATERDAM ROAD                  7.375          2,072.03         74
                                       7.125          2,072.03      410,000.00
    MCMURRAY         PA   15317          5            02/01/99         00
    1669258                              05           04/01/99          0
    1669258                              O            03/01/29
    0
 
 
    1894442          J95/J95             F          295,000.00         ZZ
                                         360        294,752.16          1
    104 ROUND BAY ROAD                 6.875          1,937.94         80
                                       6.625          1,937.94      370,000.00
    SEVERNA PARK     MD   21146          2            02/22/99         00
    9707704                              05           04/01/99          0
    9707704                              O            03/01/29
    0
 
 
    1894470          J95/J95             F          296,900.00         ZZ
                                         360        296,900.00          1
    6711 HUNTERS RIDGE ROAD            6.625          1,901.09         80
                                       6.375          1,901.09      371,130.00
    MANASSAS         VA   20112          1            03/05/99         00
    9430604                              03           05/01/99          0
    9430604                              O            04/01/29
    0
 
 
    1894474          J95/J95             F          307,500.00         ZZ
                                         360        307,241.66          1
    2108 HERITAGE HEIGHTS              6.875          2,020.06         75
                                       6.625          2,020.06      410,000.00
    DECATUR          GA   30033          5            02/09/99         00
    0013710611                           05           04/01/99          0
    0013710611                           O            03/01/29
    0
 
 
    1894479          593/G01             F          115,200.00         ZZ
                                         360        115,200.00          1
    834 NORTH 150 WEST                 7.125            776.13         90
                                       6.875            776.13      128,000.00
    SPRINGVILLE      UT   84663          2            03/08/99         12
    0431265024                           05           05/01/99         25
    00072034540                          O            04/01/29
    0
 
 
    1894481          765/G01             F          400,000.00         ZZ
                                         360        400,000.00          1
1
 
 
    300 EAST BAY AVENUE                7.125          2,694.88         53
                                       6.875          2,694.88      765,000.00
    NEWPORT BEACH    CA   92661          1            03/09/99         00
    0431263490                           05           05/01/99          0
    343799L                              O            04/01/29
    0
 
 
    1894482          562/G01             F          273,750.00         ZZ
                                         360        273,750.00          1
    10 MANOR COURT                     7.000          1,821.27         75
                                       6.750          1,821.27      365,000.00
    NEW CITY         NY   10956          5            03/25/99         00
    0431268952                           05           05/01/99          0
    582569                               O            04/01/29
    0
 
 
    1894483          J95/J95             F          392,000.00         ZZ
                                         360        391,701.72          1
    233 SAN MORENO PLACE               7.375          2,707.45         80
                                       7.125          2,707.45      490,000.00
    FREMONT          CA   94539          1            02/18/99         00
    0016580276                           05           04/01/99          0
    0016580276                           O            03/01/29
    0
 
 
    1894484          893/G01             F          328,950.00         ZZ
                                         360        328,950.00          1
    2583 20TH AVENUE                   6.875          2,160.97         70
                                       6.625          2,160.97      470,000.00
    SAN FRANCISCO    CA   94116          1            03/18/99         00
    0431262682                           05           05/01/99          0
    99030998                             O            04/01/29
    0
 
 
    1894485          J95/J95             F          506,000.00         ZZ
                                         360        505,574.90          1
    26 WESTCLIFF                       6.875          3,324.06         76
                                       6.625          3,324.06      670,000.00
    LAGUNA NIGUEL    CA   92677          2            02/10/99         00
    0014252969                           03           04/01/99          0
    0014252969                           O            03/01/29
    0
 
 
    1894490          J95/J95             F          380,050.00         ZZ
                                         360        379,393.72          1
    865 FOREST WILLOW CIRCLE           6.750          2,465.00         76
                                       6.500          2,465.00      505,000.00
    EL PASO          TX   79922          2            01/27/99         00
    3000096685                           03           03/01/99          0
1
 
 
    3000096685                           O            02/01/29
    0
 
 
    1894494          944/G01             F          383,200.00         ZZ
                                         360        383,200.00          1
    370 GLASGOW CIRCLE                 7.500          2,679.39         80
                                       7.250          2,679.39      479,000.00
    DANVILLE         CA   94526          1            03/10/99         00
    0431265446                           03           05/01/99          0
    990200018                            O            04/01/29
    0
 
 
    1894495          J95/J95             F          280,000.00         ZZ
                                         360        279,776.09          1
    35 LIVERMORE DRIVE                 7.125          1,886.41         80
                                       6.875          1,886.41      350,000.00
    RENO             NV   89509          1            02/23/99         00
    0013729355                           05           04/01/99          0
    0013729355                           O            03/01/29
    0
 
 
    1894498          J95/J95             F          306,500.00         ZZ
                                         360        306,242.50          1
    458 HIDDEN VALLEY LANE             6.875          2,013.49         72
                                       6.625          2,013.49      427,000.00
    CINCINNATI       OH   45215          2            02/22/99         00
    9722604                              05           04/01/99          0
    9722604                              O            03/01/29
    0
 
 
    1894522          638/G01             F          284,800.00         ZZ
                                         360        284,800.00          1
    2 RISING ROAD                      7.500          1,991.36         80
                                       7.250          1,991.36      356,000.00
    NORWALK          CT   06850          2            03/16/99         00
    0431265255                           05           05/01/99          0
    08853404                             O            04/01/29
    0
 
 
    1894525          638/G01             F          361,000.00         ZZ
                                         360        361,000.00          1
    6060 WEST PARK AVENUE              7.000          2,401.74         68
                                       6.750          2,401.74      535,000.00
    CHANDLER         AZ   85226          2            03/11/99         00
    0431265677                           03           05/01/99          0
    08841135                             O            04/01/29
    0
 
 
1
 
 
    1894527          638/G01             F          311,920.00         ZZ
                                         360        311,920.00          1
    514 9TH STREET SE                  7.500          2,180.99         80
                                       7.250          2,180.99      389,900.00
    WASHINGTON       DC   20003          1            03/22/99         00
    0431265321                           07           05/01/99          0
    08850193                             O            04/01/29
    0
 
 
    1894531          638/G01             F          256,000.00         ZZ
                                         360        256,000.00          1
    7735 MELROSE AVENUE                7.500          1,789.99         80
                                       7.250          1,789.99      320,000.00
    ROSEMEAD         CA   91770          1            03/05/99         00
    0431265685                           05           05/01/99          0
    08850710                             O            04/01/29
    0
 
 
    1894533          638/G01             F          280,000.00         ZZ
                                         360        280,000.00          1
    34051 SOUTH HIGHWAY ONE            7.375          1,933.89         80
                                       7.125          1,933.89      350,000.00
    GUALALA          CA   95445          1            03/09/99         00
    0431265578                           05           05/01/99          0
    08862006                             O            04/01/29
    0
 
 
    1894535          638/G01             F           68,100.00         ZZ
                                         360         68,100.00          1
    155 ROSEBAY DRIVE                  7.250            464.56         80
    #37                                7.000            464.56       85,200.00
    ENCINITAS        CA   92024          1            03/11/99         00
    0431265719                           01           05/01/99          0
    08861510                             O            04/01/29
    0
 
 
    1894539          638/G01             F          329,600.00         ZZ
                                         360        329,600.00          1
    17 HOLYOKE STREET                  6.625          2,110.46         80
    UNIT 4                             6.375          2,110.46      412,000.00
    BOSTON           MA   02116          5            03/17/99         00
    0431265206                           01           05/01/99          0
    08858929                             O            04/01/29
    0
 
 
    1894540          638/G01             F          106,000.00         ZZ
                                         360        106,000.00          1
    10 MARK STREET                     7.250            723.11         70
                                       7.000            723.11      153,000.00
1
 
 
    STONINGTON       CT   06379          2            03/17/99         00
    0431265156                           05           05/01/99          0
    000                                  O            04/01/29
    0
 
 
    1894543          638/G01             F          290,000.00         ZZ
                                         360        290,000.00          1
    8861 ALDERLY COURT                 7.125          1,953.78         70
                                       6.875          1,953.78      415,000.00
    INDIANAPOLIS     IN   46260          5            03/17/99         00
    0431265644                           05           05/01/99          0
    08861271                             O            04/01/29
    0
 
 
    1894545          638/G01             F          336,000.00         ZZ
                                         360        336,000.00          1
    622 NORTH JUANITA AVENUE           7.000          2,235.42         80
    #B                                 6.750          2,235.42      420,000.00
    REDONDO BEACH    CA   90277          5            03/03/99         00
    0431265974                           05           05/01/99          0
    08845720                             O            04/01/29
    0
 
 
    1894547          638/G01             F           70,000.00         ZZ
                                         360         70,000.00          1
    2701 99TH AVENUE                   7.000            465.71         50
                                       6.750            465.71      141,000.00
    OAKLAND          CA   94605          2            03/10/99         00
    0431265651                           05           05/01/99          0
    08855560                             O            04/01/29
    0
 
 
    1894555          638/G01             F          325,000.00         ZZ
                                         360        325,000.00          1
    1487 PADRES DRIVE                  7.625          2,300.33         73
                                       7.375          2,300.33      450,000.00
    SAN JOSE         CA   95125          5            03/09/99         00
    0431271154                           05           05/01/99          0
    000                                  O            04/01/29
    0
 
 
    1894560          638/G01             F          223,900.00         ZZ
                                         360        223,900.00          1
    1649 EAST CENTER                   7.000          1,489.61         80
                                       6.750          1,489.61      279,900.00
    SPRINGVILLE      UT   84663          1            03/17/99         00
    0431265297                           05           05/01/99          0
    08869716                             O            04/01/29
    0
1
 
 
 
 
    1894563          638/G01             F          255,000.00         ZZ
                                         360        255,000.00          1
    1074 SOUTH GREEN BAY ROAD          7.375          1,761.22         67
                                       7.125          1,761.22      385,000.00
    LAKE FOREST      IL   60045          1            03/12/99         00
    0431265602                           05           05/01/99          0
    08861422                             O            04/01/29
    0
 
 
    1894566          638/G01             F          264,000.00         ZZ
                                         360        264,000.00          1
    16843 MOUNT OLSEN CIRCLE           7.250          1,800.95         80
                                       7.000          1,800.95      330,000.00
    FOUNTAIN VALLEY  CA   92708          5            03/10/99         00
    0431265354                           05           05/01/99          0
    08863941                             O            04/01/29
    0
 
 
    1894571          638/G01             F          272,000.00         ZZ
                                         360        272,000.00          1
    405 CORAL RIDGE DRIVE              6.875          1,786.85         80
                                       6.625          1,786.85      340,000.00
    PACIFICA         CA   94044          1            03/05/99         00
    0431265081                           05           05/01/99          0
    08863474                             O            04/01/29
    0
 
 
    1894641          A54/G01             F          328,000.00         ZZ
                                         360        327,721.44          1
    8431 REMINGTON DRIVE               6.875          2,154.73         80
                                       6.625          2,154.73      410,000.00
    EVANSVILLE       IN   47711          1            02/18/99         00
    0431272822                           05           04/01/99          0
    002323152                            O            03/01/29
    0
 
 
    1894647          A54/G01             F          366,750.00         ZZ
                                         360        366,441.88          1
    37 ROYAL BIRKDALE                  6.875          2,409.29         90
                                       6.625          2,409.29      407,500.00
    SPRINGBORO       OH   45066          1            02/11/99         21
    0431272749                           05           04/01/99         25
    0002318087                           O            03/01/29
    0
 
 
    1894652          A54/G01             F          345,400.00         ZZ
                                         360        344,378.85          1
1
 
 
    122 MEADOW LN                      6.875          2,269.04         68
                                       6.625          2,269.04      510,000.00
    SOLON            OH   44139          2            02/10/99         00
    0431272871                           05           04/01/99          0
    0002281251                           O            03/01/29
    0
 
 
    1894655          A54/G01             F          259,900.00         ZZ
                                         360        259,440.12          1
    8196 SPRUCE RUN DRIVE              6.625          1,664.17         95
                                       6.375          1,664.17      273,610.00
    WESTCHESTER      OH   45069          1            01/11/99         21
    0431276971                           05           03/01/99         30
    0002218469                           O            02/01/29
    0
 
 
    1894658          A54/G01             F          275,000.00         ZZ
                                         360        274,768.96          1
    2350 LOSTWOOD COURT                6.875          1,806.56         71
                                       6.625          1,806.56      390,000.00
    XENIA            OH   45385          2            02/08/99         00
    0431272814                           05           04/01/99          0
    0002304178                           O            03/01/29
    0
 
 
    1894663          A54/G01             F          265,000.00         ZZ
                                         360        264,585.29          1
    6515 TAMARACK DR                   7.250          1,807.77         71
                                       7.000          1,807.77      378,000.00
    TROY             MI   48098          5            01/28/99         00
    0431272780                           05           03/01/99          0
    0002293751                           O            02/01/29
    0
 
 
    1894664          A54/G01             F          262,500.00         ZZ
                                         360        257,798.77          1
    16720 43RD AVE NORTH               7.125          1,768.52         80
                                       6.875          1,768.52      330,000.00
    PLYMOUTH         MN   55446          2            01/21/99         00
    0431273564                           05           03/01/99          0
    0002256379                           O            02/01/29
    0
 
 
    1894665          A54/G01             F          306,000.00         ZZ
                                         360        305,730.01          1
    2829 EMBASSY DR                    6.625          1,959.36         90
                                       6.375          1,959.36      340,000.00
    WEST PALM BEACH  FL   33401          2            02/23/99         22
    0431272699                           03           04/01/99         25
1
 
 
    2319929                              O            03/01/29
    0
 
 
    1894666          A54/G01             F          296,000.00         ZZ
                                         360        294,769.08          1
    2512 HARTZELL STREET               7.250          2,019.25         66
                                       7.000          2,019.25      450,000.00
    EVANSTON         IL   60201          2            02/11/99         00
    0431273317                           05           04/01/99          0
    0002269390                           O            03/01/29
    0
 
 
    1894667          A54/G01             F          270,000.00         ZZ
                                         360        269,553.19          1
    2780 WELSFORD                      7.000          1,796.32         75
                                       6.750          1,796.32      360,000.00
    UPPER ARLINGTON  OH   43221          2            01/22/99         00
    0431273432                           05           03/01/99          0
    0002234300                           O            02/01/29
    0
 
 
    1894668          A54/G01             F          260,000.00         ZZ
                                         360        259,372.53          1
    12350 NW 6TH STREET                7.125          1,751.67         70
                                       6.875          1,751.67      375,000.00
    PLANTATION       FL   33325          2            12/09/98         00
    0431272723                           05           02/01/99          0
    0002177426                           O            01/01/29
    0
 
 
    1894669          A54/G01             F          300,000.00         ZZ
                                         360        299,741.70          1
    11180 GOVERNORS LN                 6.750          1,945.80         74
                                       6.500          1,945.80      410,000.00
    FISHERS          IN   46038          2            02/10/99         00
    0431272681                           05           04/01/99          0
    2293397                              O            03/01/29
    0
 
 
    1894737          A50/A50             F          464,000.00         ZZ
                                         360        464,000.00          1
    9018 SHOAL CREEK DRIVE             7.125          3,126.05         80
                                       6.875          3,126.05      580,000.00
    TALLAHASSEE      FL   32312          2            03/12/99         00
    118221                               05           05/01/99          0
    118221                               O            04/01/29
    0
 
 
1
 
 
    1894759          A52/G01             F          258,000.00         ZZ
                                         360        258,000.00          1
    2042 KINSMON DRIVE                 7.250          1,760.01         71
                                       7.000          1,760.01      365,000.00
    MARIETTA         GA   30062          5            03/26/99         00
    0431264605                           03           05/01/99          0
    8026                                 O            04/01/29
    0
 
 
    1894763          B57/G01             F          247,200.00         ZZ
                                         360        247,200.00          1
    6546 SHOUP AVENUE                  7.250          1,686.34         90
                                       7.000          1,686.34      275,000.00
    WOODLAND HILLS   CA   91307          1            03/18/99         12
    0431271832                           05           05/01/99         25
    9910698                              O            04/01/29
    0
 
 
    1894796          A50/A50             F          268,000.00         ZZ
                                         360        267,559.36          1
    57 HAPPY VALLEY CIRCLE             7.000          1,783.01         83
                                       6.750          1,783.01      326,000.00
    NEWNAN           GA   30263          2            01/29/99         11
    119200                               05           03/01/99         12
    119200                               O            02/01/29
    0
 
 
    1894798          420/G01             F          423,600.00         ZZ
                                         360        423,600.00          1
    7 WILDFLOWER DRIVE                 7.250          2,889.70         80
                                       7.000          2,889.70      529,500.00
    CORTE MADERA     CA   94925          1            03/15/99         00
    0431263805                           03           05/01/99          0
    0000411249                           O            04/01/29
    0
 
 
    1894799          893/G01             F          424,000.00         ZZ
                                         360        424,000.00          1
    3125 LA MESA DRIVE                 6.875          2,785.38         73
                                       6.625          2,785.38      581,800.00
    SAN CARLOS       CA   94070          2            03/16/99         00
    0431264456                           05           05/01/99          0
    99010732                             O            04/01/29
    0
 
 
    1894800          A50/A50             F          300,000.00         ZZ
                                         360        300,000.00          1
    1907 WYCLIFFE                      6.875          1,970.79         80
                                       6.625          1,970.79      375,000.00
1
 
 
    DALTON           GA   30720          1            03/09/99         00
    120718                               03           05/01/99          0
    120718                               O            04/01/29
    0
 
 
    1894803          814/G01             F          254,000.00         ZZ
                                         360        254,000.00          1
    17499 CALLE CABALLERIA             7.500          1,776.01         80
                                       7.250          1,776.01      317,500.00
    MORGAN HILL      CA   95037          2            03/17/99         00
    0431273986                           05           05/01/99          0
    0001120054                           O            04/01/29
    0
 
 
    1894806          F88/G01             F          450,000.00         ZZ
                                         360        450,000.00          1
    1487 NEWPORT AVENUE                7.250          3,069.79         66
                                       7.000          3,069.79      685,000.00
    SAN JOSE         CA   95125          5            03/19/99         00
    0431267004                           05           05/01/99          0
    99030048                             O            04/01/29
    0
 
 
    1894807          A50/A50             F          328,000.00         ZZ
                                         360        327,731.14          1
    1408 FARMINGTON LANE               7.000          2,182.19         80
                                       6.750          2,182.19      410,000.00
    PIKE ROAD        AL   36064          2            02/23/99         00
    112150                               05           04/01/99          0
    112150                               O            03/01/29
    0
 
 
    1894813          J95/J95             F          275,500.00         ZZ
                                         360        275,500.00          1
    16 FORESTAL CIRCLE                 6.875          1,809.84         88
                                       6.625          1,809.84      315,000.00
    NEWARK           DE   19711          2            02/26/99         01
    0009666231                           05           05/01/99         25
    0009666231                           O            04/01/29
    0
 
 
    1894814          J95/J95             F          300,000.00         ZZ
                                         360        299,747.96          1
    30 WINSTON ROAD                    6.875          1,970.79         80
                                       6.625          1,970.79      378,000.00
    HOLLISTON        MA   01746          2            02/09/99         00
    0013635230                           05           04/01/99          0
    0013635230                           O            03/01/29
    0
1
 
 
 
 
    1894820          J95/J95             F          300,000.00         ZZ
                                         360        299,735.32          1
    8415 MEADOW VIEW LANE              6.625          1,920.93         68
                                       6.375          1,920.93      443,000.00
    BAHAMA           NC   27503          2            02/22/99         00
    13751342                             05           04/01/99          0
    13751342                             O            03/01/29
    0
 
 
    1894825          664/G01             F          295,000.00         ZZ
                                         360        295,000.00          1
    12533 SW 55TH PLACE                7.625          2,088.00         68
                                       7.375          2,088.00      436,000.00
    PORTLAND         OR   97219          1            03/04/99         00
    0431272657                           05           05/01/99          0
    2935385                              O            04/01/29
    0
 
 
    1894827          J95/J95             F          300,000.00         ZZ
                                         360        299,747.96          1
    11555 SE ORIENT DRIVE              6.875          1,970.79         69
                                       6.625          1,970.79      440,000.00
    BORING           OR   97009          1            02/11/99         00
    16602906                             05           04/01/99          0
    16602906                             O            03/01/29
    0
 
 
    1894830          J95/J95             F          444,000.00         ZZ
                                         360        443,269.98          1
    6436 SCENIC HIGHWAY                7.000          2,953.95         78
                                       6.750          2,953.95      575,000.00
    PENSACOLA        FL   32504          2            02/04/99         00
    16561219                             05           03/01/99          0
    16561219                             O            02/01/29
    0
 
 
    1894837          J95/J95             F          288,000.00         ZZ
                                         360        287,758.05          1
    7932 ROSE STREET                   6.875          1,891.95         79
                                       6.625          1,891.95      365,000.00
    LA PALMA         CA   90623          2            02/19/99         00
    14253165                             05           04/01/99          0
    14253165                             O            03/01/29
    0
 
 
    1894844          J95/J95             F          290,000.00         ZZ
                                         360        289,756.37          1
1
 
 
    17125 453RD AVE SE                 6.875          1,905.09         75
                                       6.625          1,905.09      391,000.00
    NORTH BEND       WA   98045          5            02/08/99         00
    13924147                             05           04/01/99          0
    13924147                             O            03/01/29
    0
 
 
    1894846          J95/J95             F          340,000.00         ZZ
                                         360        339,721.30          1
    67 MARNE AVENUE                    7.000          2,262.03         80
                                       6.750          2,262.03      425,000.00
    SAN FRANCISCO    CA   94127          1            02/18/99         00
    14076996                             05           04/01/99          0
    14076996                             O            03/01/29
    0
 
 
    1894849          J95/J95             F          300,000.00         ZZ
                                         360        299,494.48          1
    980 SOUTH SODA CREEK ROAD          6.875          1,970.79         75
                                       6.625          1,970.79      400,000.00
    EVERGREEN        CO   80439          5            01/22/99         00
    13869813                             05           03/01/99          0
    13869813                             O            02/01/29
    0
 
 
    1894854          811/G01             F          304,000.00         ZZ
                                         360        304,000.00          1
    2750 MARKET STREET #202            7.250          2,073.82         80
                                       7.000          2,073.82      380,000.00
    SAN FRANCISCO    CA   94114          1            03/17/99         00
    0431275205                           07           05/01/99          0
    FM02105151                           O            04/01/29
    0
 
 
    1894856          J95/J95             F          416,700.00         ZZ
                                         360        416,358.43          1
    5664 FIG WAY                       7.000          2,772.32         90
                                       6.750          2,772.32      463,000.00
    ARVADA           CO   80002          2            02/26/99         21
    16590465                             03           04/01/99         25
    16590465                             O            03/01/29
    0
 
 
    1894860          J95/J95             F          364,000.00         ZZ
                                         360        363,716.05          1
    931 MAPLE STREET                   7.250          2,483.12         80
                                       7.000          2,483.12      455,000.00
    PACIFIC GROVE    CA   93950          1            02/16/99         00
    0014285886                           05           04/01/99          0
1
 
 
    0014285886                           O            03/01/29
    0
 
 
    1894861          811/G01             F          212,000.00         ZZ
                                         360        212,000.00          1
    5 VIA SERRA                        7.625          1,500.52         80
                                       7.375          1,500.52      265,000.00
    SAN JUAN BAUTIS  CA   95045          1            03/15/99         00
    0431269265                           03           05/01/99          0
    FM02209515                           O            04/01/29
    0
 
 
    1894865          J95/J95             F          595,000.00         ZZ
                                         360        594,500.12          1
    5845 SW 97TH STREET                6.875          3,908.73         46
                                       6.625          3,908.73    1,300,000.00
    PINECREST        FL   33156          2            02/25/99         00
    0009710773                           05           04/01/99          0
    0009710773                           O            03/01/29
    0
 
 
    1894866          J95/J95             F          125,600.00         ZZ
                                         360        125,491.86          1
    14181 HORSESHOE LANE               6.750            814.64         80
                                       6.500            814.64      157,000.00
    GRASS VALLEY     CA   95949          2            02/01/99         00
    14017909                             05           04/01/99          0
    14017909                             O            03/01/29
    0
 
 
    1894867          J95/J95             F          404,500.00         ZZ
                                         360        404,168.43          1
    928 OAK DRIVE                      7.000          2,691.15         71
                                       6.750          2,691.15      575,000.00
    GLENCOE          IL   60022          5            02/12/99         00
    16581407                             05           04/01/99          0
    16581407                             O            03/01/29
    0
 
 
    1894868          077/077             F          430,400.00         ZZ
                                         360        430,400.00          1
    51545 AUTUMN RIDGE DRIVE           7.375          2,972.67         80
                                       7.125          2,972.67      538,000.00
    GRANGER          IN   46530          1            03/18/99         00
    434956                               05           05/01/99          0
    434956                               O            04/01/29
    0
 
 
1
 
 
    1894870          069/G01             F          120,000.00         ZZ
                                         360        120,000.00          1
    336 WEST PILGRIM CIRCLE            7.000            798.37         80
                                       6.750            798.37      150,000.00
    RIDGECREST       CA   93555          2            03/02/99         00
    0431270669                           03           05/01/99          0
    236233858                            O            04/01/29
    0
 
 
    1894871          J95/J95             F          283,000.00         ZZ
                                         360        282,756.35          1
    7607 NORTHEAST 125TH STREET        6.750          1,835.53         90
                                       6.500          1,835.53      315,000.00
    KIRKLAND         WA   98034          1            02/18/99         10
    0013924915                           05           04/01/99         25
    0013924915                           O            03/01/29
    0
 
 
    1894876          J95/J95             F          297,000.00         ZZ
                                         360        296,768.32          1
    716 SPLITRAIL DRIVE                7.250          2,026.06         72
                                       7.000          2,026.06      415,000.00
    BRENTWOOD        TN   37027          2            02/22/99         00
    12785549                             05           04/01/99          0
    12785549                             O            03/01/29
    0
 
 
    1894878          J95/J95             F          347,200.00         ZZ
                                         360        344,880.01          1
    12706 COVERED BRIDGE ROAD          7.625          2,457.46         80
                                       7.375          2,457.46      434,000.00
    SELLERSBURG      IN   47172          2            06/15/98         00
    12685111                             05           08/01/98          0
    12685111                             O            07/01/28
    0
 
 
    1894883          J95/J95             F          275,200.00         ZZ
                                         360        274,968.80          1
    3479 MILL BRIDGE DRIVE             6.875          1,807.87         80
                                       6.625          1,807.87      344,000.00
    MARIETTA         GA   30062          1            02/26/99         00
    0010177749                           03           04/01/99          0
    0010177749                           O            03/01/29
    0
 
 
    1894886          J95/J95             F          272,700.00         ZZ
                                         360        272,492.49          1
    25124 NE PRAIRIE VIEW DRIVE        7.375          1,883.48         90
                                       7.125          1,883.48      303,000.00
1
 
 
    AURORA           OR   97002          2            02/23/99         21
    16638959                             05           04/01/99         25
    16638959                             O            03/01/29
    0
 
 
    1894890          J95/J95             F          298,400.00         T
                                         360        298,167.22          1
    965 DEER TRAIL LANE                7.250          2,035.61         80
                                       7.000          2,035.61      373,000.00
    FAWNSKIN         CA   92333          1            02/19/99         00
    14255236                             05           04/01/99          0
    14255236                             O            03/01/29
    0
 
 
    1894891          J95/J95             F          264,000.00         ZZ
                                         360        263,788.88          1
    11510 BOTTOMLY ROAD                7.125          1,778.62         80
                                       6.875          1,778.62      330,000.00
    THURMONT         MD   21788          1            02/24/99         00
    0009718867                           05           04/01/99          0
    0009718867                           O            03/01/29
    0
 
 
    1894894          J95/J95             F          421,200.00         ZZ
                                         360        420,846.15          1
    2450 AGNES CIRCLE                  6.875          2,766.98         80
                                       6.625          2,766.98      526,500.00
    FULLERTON        CA   92835          1            02/04/99         00
    13764873                             03           04/01/99          0
    13764873                             O            03/01/29
    0
 
 
    1894896          J95/J95             F          308,000.00         ZZ
                                         360        307,777.07          1
    30 SOUTH KNOLL ROAD                7.625          2,180.01         80
                                       7.375          2,180.01      385,000.00
    MILL VALLEY      CA   94941          1            02/18/99         00
    16632267                             05           04/01/99          0
    16632267                             O            03/01/29
    0
 
 
    1894901          J99/G01             F          284,000.00         ZZ
                                         360        284,000.00          1
    507 CHEYENNE DRIVE                 7.500          1,985.77         80
                                       7.250          1,985.77      355,000.00
    SUNNYVALE        CA   94087          1            03/22/99         00
    0431264472                           09           05/01/99          0
    94750                                O            04/01/29
    0
1
 
 
 
 
    1894902          J95/J95             F          301,600.00         ZZ
                                         360        301,600.00          1
    21132 BINGHAMPTON CIRCLE           7.000          2,006.55         80
                                       6.750          2,006.55      377,000.00
    HUNTINGTON BEAC  CA   92646          1            03/01/99         00
    0014255301                           05           05/01/99          0
    0014255301                           O            04/01/29
    0
 
 
    1894906          J95/J95             F          444,500.00         ZZ
                                         360        444,153.24          1
    01827 SW PALATINE HILL ROAD        7.250          3,032.28         51
                                       7.000          3,032.28      875,000.00
    PORTLAND         OR   97219          2            02/19/99         00
    0016607624                           05           04/01/99          0
    0016607624                           O            03/01/29
    0
 
 
    1894911          559/G01             F          359,150.00         ZZ
                                         360        359,150.00          1
    114 VALLEY OAKS LOOP               7.500          2,511.23         80
                                       7.250          2,511.23      448,990.00
    UNION CITY       CA   94587          1            03/16/99         00
    0431265032                           05           05/01/99          0
    5584958                              O            04/01/29
    0
 
 
    1894923          J95/J95             F          295,000.00         ZZ
                                         360        294,786.48          1
    2773 WAILEA CIRCLE                 7.625          2,088.00         90
                                       7.375          2,088.00      331,000.00
    FAIRFIELD        CA   94553          2            02/26/99         10
    0016641136                           03           04/01/99         25
    0016641136                           O            03/01/29
    0
 
 
    1894926          J95/J95             F          291,200.00         ZZ
                                         360        291,200.00          1
    6031 IRONWOOD LANE                 7.125          1,961.87         80
                                       6.875          1,961.87      364,000.00
    MUKILTEO         WA   98275          1            03/01/99         00
    0013924170                           03           05/01/99          0
    0013924170                           O            04/01/29
    0
 
 
    1894933          765/G01             F          380,500.00         ZZ
                                         360        380,500.00          1
1
 
 
    11635 NORTH SAINT ANDREWS WAY      7.375          2,628.02         90
                                       7.125          2,628.02      425,000.00
    SCOTTSDALE       AZ   85254          1            03/17/99         11
    0431265222                           05           05/01/99         25
    108436                               O            04/01/29
    0
 
 
    1894937          J95/J95             F          324,500.00         ZZ
                                         360        324,246.86          1
    15 THORNWOOD LANE                  7.250          2,213.66         77
                                       7.000          2,213.66      425,000.00
    AVON             CT   06001          2            02/12/99         00
    13828413                             05           04/01/99          0
    13828413                             O            03/01/29
    0
 
 
    1894938          944/G01             F          420,000.00         ZZ
                                         360        420,000.00          1
    370 N CENTRAL AVENUE               7.250          2,865.14         80
                                       7.000          2,865.14      525,000.00
    CAMPBELL         CA   95008          1            03/15/99         00
    0431265891                           05           05/01/99          0
    990300011                            O            04/01/29
    0
 
 
    1894945          J95/J95             F          260,000.00         ZZ
                                         360        259,047.07          1
    34524 SE GREEN RIVER               7.625          1,840.26         68
    HEADWORKS ROAD                     7.375          1,840.26      387,000.00
    PALMER           WA   98051          1            10/14/98         00
    13329594                             05           12/01/98          0
    13329594                             O            11/01/28
    0
 
 
    1894947          J95/J95             F          280,000.00         ZZ
                                         360        279,786.94          1
    724 CAMINO DRIVE                   7.375          1,933.89         80
                                       7.125          1,933.89      350,000.00
    SANTA CLARA      CA   95050          2            02/22/99         00
    14285928                             05           04/01/99          0
    14285928                             O            03/01/29
    0
 
 
    1894953          J95/J95             F          265,000.00         ZZ
                                         360        264,788.09          1
    3201 36TH AVENUE WEST              7.125          1,785.35         78
                                       6.875          1,785.35      340,000.00
    SEATTLE          WA   98199          2            02/15/99         00
    0013924592                           05           04/01/99          0
1
 
 
    0013924592                           O            03/01/29
    0
 
 
    1894960          J95/J95             F          322,000.00         ZZ
                                         360        321,722.76          1
    4021 96TH AVENUE S.E.              6.750          2,088.49         66
                                       6.500          2,088.49      495,000.00
    MERCER ISLAND    WA   98040          1            02/11/99         00
    0013924634                           05           04/01/99          0
    0013924634                           O            03/01/29
    0
 
 
    1894963          J95/J95             F          449,000.00         ZZ
                                         360        449,000.00          1
    4242 EAST MERCER WAY               6.875          2,949.62         63
                                       6.625          2,949.62      715,000.00
    MERCER ISLAND    WA   98040          2            03/03/99         00
    16632788                             05           05/01/99          0
    16632788                             O            04/01/29
    0
 
 
    1894964          J95/J95             F          353,500.00         ZZ
                                         360        353,210.23          1
    801 CREWS ROAD                     7.000          2,351.85         64
                                       6.750          2,351.85      555,000.00
    GREAT FALLS      VA   22066          2            02/18/99         00
    9688821                              05           04/01/99          0
    9688821                              O            03/01/29
    0
 
 
    1894970          J95/J95             F          272,000.00         ZZ
                                         360        271,793.03          1
    26992 FLORESTA LANE                7.375          1,878.64         80
                                       7.125          1,878.64      340,000.00
    MISSION VIEJO    CA   92691          1            02/22/99         00
    0014253843                           05           04/01/99          0
    0014253843                           O            03/01/29
    0
 
 
    1894974          J95/J95             F          632,000.00         ZZ
                                         360        631,469.04          1
    1109 NORTH GAILLARD STREET         6.875          4,151.79         80
                                       6.625          4,151.79      790,000.00
    ALEXANDRIA       VA   22304          2            02/22/99         00
    0014262521                           05           04/01/99          0
    0014262521                           O            03/01/29
    0
 
 
1
 
 
    1894989          E85/G01             F          398,000.00         ZZ
                                         360        398,000.00          1
    249 DIVISO STREET                  7.375          2,748.89         55
                                       7.125          2,748.89      730,000.00
    TIBURON          CA   94920          2            03/15/99         00
    0431276708                           05           05/01/99          0
    9604871                              O            04/01/29
    0
 
 
    1894994          E85/G01             F          248,650.00         ZZ
                                         360        248,650.00          1
    23 ALHAMBRA COURT                  7.500          1,738.60         75
                                       7.250          1,738.60      331,535.00
    NOVATO           CA   94949          1            03/11/99         00
    0431268903                           05           05/01/99          0
    9604195                              O            04/01/29
    0
 
 
    1895008          J95/J95             F          272,000.00         ZZ
                                         360        271,771.48          1
    123 DAM ROAD                       6.875          1,786.85         77
                                       6.625          1,786.85      355,000.00
    JACKSON          GA   30233          2            02/22/99         00
    0010619922                           05           04/01/99          0
    0010619922                           O            03/01/29
    0
 
 
    1895016          638/G01             F          456,000.00         ZZ
                                         360        456,000.00          1
    7020 BROOKSHIRE DRIVE              7.625          3,227.54         80
                                       7.375          3,227.54      570,000.00
    DALLAS           TX   75230          1            03/17/99         00
    0431268689                           05           05/01/99          0
    08866846                             O            04/01/29
    0
 
 
    1895018          757/G01             F          266,000.00         ZZ
                                         360        266,000.00          1
    72 ALBERTS VIEW                    7.000          1,769.71         80
                                       6.750          1,769.71      335,000.00
    SCALY MOUNTAIN   NC   28875          2            03/23/99         00
    0431273770                           05           05/01/99          0
    8435141                              O            04/01/29
    0
 
 
    1895020          638/G01             F          304,000.00         ZZ
                                         360        304,000.00          1
    1551 LUDWIG AVE                    7.500          2,125.61         80
                                       7.250          2,125.61      380,000.00
1
 
 
    SANTA ROSA       CA   95407          5            03/05/99         00
    0431266337                           05           05/01/99          0
    08858620                             O            04/01/29
    0
 
 
    1895021          J95/J95             F          396,000.00         ZZ
                                         360        395,675.40          1
    27139 SE 25TH PLACE                7.000          2,634.60         80
                                       6.750          2,634.60      495,000.00
    ISSAQUAH         WA   98029          5            02/16/99         00
    0016593006                           03           04/01/99          0
    0016593006                           O            03/01/29
    0
 
 
    1895039          J95/J95             F          250,000.00         ZZ
                                         360        249,804.98          1
    26 BLUE SHUTTERS LANE              7.250          1,705.44         69
                                       7.000          1,705.44      365,000.00
    NORTH FALMOUTH   MA   02556          2            02/22/99         00
    0013826912                           05           04/01/99          0
    0013826912                           O            03/01/29
    0
 
 
    1895044          J95/J95             F          319,500.00         ZZ
                                         360        319,224.92          1
    514 EAST BEADY ROAD                6.750          2,072.27         90
                                       6.500          2,072.27      355,000.00
    ARLINGTON        TX   76006          2            02/08/99         04
    0013953096                           05           04/01/99         25
    0013953096                           O            03/01/29
    0
 
 
    1895059          638/G01             F          274,500.00         ZZ
                                         360        274,500.00          1
    1432 DE HARO STREET                7.250          1,872.57         80
                                       7.000          1,872.57      345,000.00
    SAN FRANCISCO    CA   94107          5            03/10/99         00
    0431269695                           05           05/01/99          0
    08864057                             O            04/01/29
    0
 
 
    1895062          638/G01             F          177,000.00         ZZ
                                         360        177,000.00          1
    531 CALISTOGA ROAD                 7.375          1,222.50         76
                                       7.125          1,222.50      235,000.00
    SANTA ROSA       CA   95409          2            03/12/99         00
    0431271238                           05           05/01/99          0
    08865962                             O            04/01/29
    0
1
 
 
 
 
    1895063          638/G01             F          200,000.00         ZZ
                                         360        200,000.00          1
    2271 OCEANSIDE ROAD                7.250          1,364.35         48
                                       7.000          1,364.35      420,000.00
    OCEANSIDE        CA   92054          1            03/12/99         00
    0431271030                           03           05/01/99          0
    08865072                             O            04/01/29
    0
 
 
    1895066          J95/J95             F          396,000.00         ZZ
                                         360        395,667.31          1
    8730 POTTERS COVE CT               6.875          2,601.44         66
                                       6.625          2,601.44      604,000.00
    INDIANAPOL       IN   46234          2            02/18/99         00
    9694902                              03           04/01/99          0
    9694902                              O            03/01/29
    0
 
 
    1895102          685/G01             F          600,000.00         ZZ
                                         360        600,000.00          1
    3095 NORTH PALO VERDE CIRCLE       7.625          4,246.77         65
                                       7.375          4,246.77      925,000.00
    CAMARILLO AREA   CA   93012          2            03/12/99         00
    0431266949                           05           05/01/99          0
    117695                               O            04/01/29
    0
 
 
    1895106          E82/G01             F          200,000.00         ZZ
                                         360        200,000.00          1
    9020 CROWLEY WAY                   7.375          1,381.35         80
                                       7.125          1,381.35      250,500.00
    ELK GROVE        CA   95624          2            03/26/99         00
    0400191771                           05           05/01/99          0
    0400191771                           O            04/01/29
    0
 
 
    1895108          685/G01             F          301,550.00         ZZ
                                         360        301,550.00          1
    2691 PREAKNESS WAY                 7.375          2,082.74         80
                                       7.125          2,082.74      376,990.00
    NORCO            CA   91760          1            03/18/99         00
    0431271162                           05           05/01/99          0
    117786                               O            04/01/29
    0
 
 
    1895119          E82/G01             F          532,000.00         ZZ
                                         360        532,000.00          1
1
 
 
    10880 CREEK ROAD                   7.500          3,719.82         54
                                       7.250          3,719.82    1,000,000.00
    OJAI             CA   93023          2            03/26/99         00
    0400193082                           05           05/01/99          0
    1584661                              O            04/01/29
    0
 
 
    1895122          E82/G01             F          489,000.00         ZZ
                                         360        489,000.00          1
    110 LINDEN LANE                    7.125          3,294.48         70
                                       6.875          3,294.48      700,000.00
    FLINT HILL       VA   22627          2            03/26/99         00
    0400162517                           05           05/01/99          0
    0400162517                           O            04/01/29
    0
 
 
    1895126          E82/G01             F          253,600.00         ZZ
                                         360        253,600.00          1
    1848 EAST NICOLET AVENUE           7.250          1,730.00         80
                                       7.000          1,730.00      317,000.00
    PHOENIX          AZ   85020          2            03/26/99         00
    0400191607                           05           05/01/99          0
    1584536                              O            04/01/29
    0
 
 
    1895129          F27/F27             F          226,600.00         ZZ
                                         360        226,600.00          1
    13041 CHAMPLAIN DRIVE              7.000          1,507.58         80
                                       6.750          1,507.58      283,271.00
    MANASSAS         VA   20112          1            03/10/99         00
    6060037211                           03           05/01/99          0
    6060037211                           O            04/01/29
    0
 
 
    1895133          E82/G01             F          307,000.00         ZZ
                                         360        307,000.00          1
    7819 STONEHEDGE DRIVE              7.375          2,120.37         77
                                       7.125          2,120.37      400,000.00
    CHATTANOOGA      TN   37421          2            03/26/99         00
    0400190187                           05           05/01/99          0
    1540868                              O            04/01/29
    0
 
 
    1895146          076/076             F          261,500.00         ZZ
                                         360        261,080.52          1
    9 LIGHT HOUSE ROAD                 7.125          1,761.78         66
                                       6.875          1,761.78      400,000.00
    BABYLON          NY   11702          2            02/02/99         00
    1076894                              05           03/01/99          0
1
 
 
    1076894                              O            02/01/29
    0
 
 
    1895162          811/G01             F          234,400.00         ZZ
                                         360        234,400.00          1
    1359 DENTWOOD DRIVE                7.625          1,659.07         80
                                       7.375          1,659.07      293,000.00
    SAN JOSE         CA   95118          1            03/23/99         00
    0431271170                           05           05/01/99          0
    FM02208248                           O            04/01/29
    0
 
 
    1895170          356/G01             F          274,500.00         ZZ
                                         360        274,500.00          1
    265 SAN MORENO PLACE               7.500          1,919.35         75
                                       7.250          1,919.35      366,000.00
    FREMONT          CA   94539          5            03/04/99         00
    0431268408                           05           05/01/99          0
    2725109                              O            04/01/29
    0
 
 
    1895182          J95/J95             F          344,750.00         ZZ
                                         360        344,481.06          1
    18455 FOXTAIL COURT                7.250          2,351.80         80
                                       7.000          2,351.80      430,990.00
    SALINAS          CA   93908          1            02/11/99         00
    0013911391                           03           04/01/99          0
    0013911391                           O            03/01/29
    0
 
 
    1895184          J95/J95             F          398,000.00         ZZ
                                         360        396,943.58          1
    105 NORTH OAKLAND STREET           6.875          2,614.58         68
                                       6.625          2,614.58      591,000.00
    ARLINGTON        VA   22203          2            02/02/99         00
    0007919772                           05           03/01/99          0
    0007919772                           O            02/01/29
    0
 
 
    1895187          811/G01             F          455,200.00         ZZ
                                         360        455,200.00          1
    1000 CAROLYN AVENUE                7.375          3,143.95         80
                                       7.125          3,143.95      569,000.00
    SAN JOSE         CA   95125          1            03/23/99         00
    0431269059                           05           05/01/99          0
    FM02210279                           O            04/01/29
    0
 
 
1
 
 
    1895194          J95/J95             F          264,800.00         ZZ
                                         360        264,577.53          1
    850 BRIDGEWAY CIRCLE               6.875          1,739.55         80
                                       6.625          1,739.55      331,000.00
    EL SOBRANTE      CA   94803          1            02/19/99         00
    0016572984                           03           04/01/99          0
    0016572984                           O            03/01/29
    0
 
 
    1895195          J95/J95             F          432,000.00         ZZ
                                         360        431,671.28          1
    97 TAMALPAIS AVENUE                7.375          2,983.72         78
                                       7.125          2,983.72      555,000.00
    SAN ANSELMO      CA   94960          2            02/18/99         00
    00165898327                          05           04/01/99          0
    00165898327                          O            03/01/29
    0
 
 
    1895198          J95/J95             F          479,200.00         ZZ
                                         360        478,807.20          1
    309 SAYER'S FOREST DRIVE           7.000          3,188.13         80
                                       6.750          3,188.13      599,000.00
    QUEENSTOWN       MD   21158          2            02/22/99         00
    0009697509                           05           04/01/99          0
    0009697509                           O            03/01/29
    0
 
 
    1895200          J95/J95             F          336,500.00         ZZ
                                         360        336,224.18          1
    6600 EAST HOGAN ROAD               7.000          2,238.74         75
                                       6.750          2,238.74      452,000.00
    LODI             CA   95240          2            02/09/99         00
    0014270789                           05           04/01/99          0
    0014270789                           O            03/01/29
    0
 
 
    1895202          J95/J95             F          275,000.00         ZZ
                                         360        274,774.59          1
    3155 FLANAGAN DRIVE                7.000          1,829.58         76
                                       6.750          1,829.58      365,000.00
    SIMI VALLEY      CA   93063          2            02/17/99         00
    0014254254                           05           04/01/99          0
    0014254254                           O            03/01/29
    0
 
 
    1895206          964/G01             F          477,500.00         ZZ
                                         360        477,500.00          1
    1701 SPRUCE STREET                 7.250          3,257.39         70
                                       7.000          3,257.39      682,500.00
1
 
 
    BERKELEY         CA   94709          1            03/26/99         00
    0431271188                           05           05/01/99          0
    51137                                O            04/01/29
    0
 
 
    1895208          J95/J95             F          310,400.00         ZZ
                                         360        310,145.57          1
    702 TALAHI COURT, SE               7.000          2,065.10         76
                                       6.750          2,065.10      410,000.00
    VIENNA           VA   22180          2            02/25/99         00
    0016605099                           05           04/01/99          0
    0016605099                           O            03/01/29
    0
 
 
    1895209          E82/G01             F          780,000.00         ZZ
                                         360        780,000.00          1
    8995 CAMINO DEL AVION              7.250          5,320.97         65
                                       7.000          5,320.97    1,200,000.00
    GRANITE BAY      CA   95746          5            03/26/99         00
    0400185104                           03           05/01/99          0
    0400185104                           O            04/01/29
    0
 
 
    1895226          J95/J95             F          327,500.00         ZZ
                                         360        327,238.10          1
    2446 AQUASANTA                     7.125          2,206.43         80
                                       6.875          2,206.43      410,000.00
    TUSTIN           CA   92782          2            02/16/99         00
    0013999115                           01           04/01/99          0
    0013999115                           O            03/01/29
    0
 
 
    1895228          J95/J95             F          357,300.00         ZZ
                                         360        357,021.27          1
    1086 VISTA POINTE CIRCLE           7.250          2,437.42         90
                                       7.000          2,437.42      397,000.00
    SAN RAMON        CA   94583          1            02/15/99         04
    0013914247                           03           04/01/99         25
    0013914247                           O            03/01/29
    0
 
 
    1895231          893/G01             F          412,000.00         ZZ
                                         360        412,000.00          1
    31 TULIP LANE                      7.250          2,810.57         80
                                       7.000          2,810.57      515,000.00
    SAN CARLOS       CA   94070          1            03/18/99         00
    0431277730                           09           05/01/99          0
    99020861                             O            04/01/29
    0
1
 
 
 
 
    1895234          E82/G01             F          229,550.00         ZZ
                                         360        229,550.00          1
    964 NORTH WASHINGTON STREET        7.000          1,527.20         80
                                       6.750          1,527.20      287,000.00
    ALEXANDRIA       VA   22314          2            03/24/99         00
    0400176764                           09           05/01/99          0
    0400176764                           O            04/01/29
    0
 
 
    1895235          J95/J95             F          414,050.00         ZZ
                                         360        413,702.14          1
    4640 WINDSOR GATE                  6.875          2,720.02         80
                                       6.625          2,720.02      517,600.00
    ATLANTA          GA   30342          1            02/25/99         00
    0010176899                           05           04/01/99          0
    0010176899                           O            03/01/29
    0
 
 
    1895236          J95/J95             F          488,000.00         ZZ
                                         360        487,637.83          1
    5345 CAMINO DE BRYANT              7.500          3,412.17         80
                                       7.250          3,412.17      610,000.00
    YORBA LINDA      CA   92887          1            02/02/99         00
    0013999354                           05           04/01/99          0
    0013999354                           O            03/01/29
    0
 
 
    1895237          J95/J95             F          284,000.00         ZZ
                                         360        284,000.00          1
    7 CARTAGENA                        7.250          1,937.38         71
                                       7.000          1,937.38      400,000.00
    SAN CLEMENTE     CA   92672          5            03/10/99         00
    14328090                             03           05/01/99          0
    14328090                             O            04/01/29
    0
 
 
    1895238          811/G01             F          536,000.00         ZZ
                                         360        536,000.00          1
    2669 GREER ROAD                    7.500          3,747.79         80
                                       7.250          3,747.79      670,000.00
    PALO ALTO        CA   94303          1            03/18/99         00
    0431270842                           05           05/01/99          0
    FM02209776                           O            04/01/29
    0
 
 
    1895239          J95/J95             F          281,000.00         ZZ
                                         360        280,775.29          1
1
 
 
    18 ROCKRIDGE ROAD                  7.125          1,893.15         76
                                       6.875          1,893.15      370,000.00
    CERRILLOS        NM   87010          2            02/22/99         00
    0016558363                           05           04/01/99          0
    0016558363                           O            03/01/29
    0
 
 
    1895241          J95/J95             F          367,000.00         ZZ
                                         360        366,691.67          1
    18 LINSTEAD ROAD                   6.875          2,410.93         75
                                       6.625          2,410.93      490,000.00
    SEVERNA PARK     MD   21146          5            02/22/99         00
    0009713389                           05           04/01/99          0
    0009713389                           O            03/01/29
    0
 
 
    1895242          811/G01             F          216,000.00         ZZ
                                         360        216,000.00          1
    35559 ROCA DRIVE                   7.250          1,473.50         80
                                       7.000          1,473.50      270,000.00
    FREMONT          CA   94536          1            03/16/99         00
    0431269034                           05           05/01/99          0
    FM02209569                           O            04/01/29
    0
 
 
    1895243          665/G01             F          355,000.00         ZZ
                                         360        355,000.00          1
    1846 LIMETREE LANE                 7.000          2,361.82         62
                                       6.750          2,361.82      580,000.00
    MOUNTAIN VIEW    CA   94040          2            03/08/99         00
    0431266246                           05           05/01/99          0
    9901228301                           O            04/01/29
    0
 
 
    1895245          J95/J95             F          330,000.00         ZZ
                                         360        329,729.50          1
    115 FOREST BREEZE COVE             7.000          2,195.50         80
                                       6.750          2,195.50      412,500.00
    ALPHARETTA       GA   30022          1            02/26/99         00
    0010177525                           03           04/01/99          0
    0010177525                           O            03/01/29
    0
 
 
    1895249          J95/J95             F          400,000.00         ZZ
                                         360        399,672.12          1
    1900 HARKNESS STREET               7.000          2,661.21         88
                                       6.750          2,661.21      455,000.00
    MANHATTAN BEACH  CA   90266          1            02/23/99         04
    0014252373                           05           04/01/99         25
1
 
 
    0014252373                           O            03/01/29
    0
 
 
    1895252          G52/G01             F          263,600.00         ZZ
                                         360        263,600.00          1
    10717 CLEVLAND AVENUE              7.250          1,798.22         80
                                       7.000          1,798.22      329,500.00
    RIVERSIDE        CA   92503          1            03/10/99         00
    0431274935                           05           05/01/99          0
    89500001                             O            04/01/29
    0
 
 
    1895255          J95/J95             F          340,000.00         ZZ
                                         360        340,000.00          1
    3802 WIEUCA TERRACE, NE            6.875          2,233.56         68
                                       6.625          2,233.56      500,000.00
    ATLANTA          GA   30342          5            03/11/99         00
    0014294193                           05           05/01/99          0
    0014294193                           O            04/01/29
    0
 
 
    1895260          J95/J95             F          260,000.00         ZZ
                                         360        259,387.84          1
    2800 WOODSTREAM LANE               7.250          1,773.66         80
                                       7.000          1,773.66      325,000.00
    MCKINNEY         TX   75070          1            12/29/98         00
    0013024013                           03           02/01/99          0
    0013024013                           O            01/01/29
    0
 
 
    1895272          765/G01             F          400,000.00         ZZ
                                         360        400,000.00          1
    62 CHARLESTON LANE                 7.250          2,728.71         73
                                       7.000          2,728.71      550,000.00
    COTO DE CAZA AR  CA   92679          5            03/15/99         00
    0431266196                           05           05/01/99          0
    343477                               O            04/01/29
    0
 
 
    1895279          E48/G01             F          294,000.00         ZZ
                                         360        293,746.87          1
    6012 SADDLEVIEW DRIVE              6.750          1,906.88         69
                                       6.500          1,906.88      430,000.00
    FRANKLIN         TN   37069          5            02/22/99         00
    0431271592                           05           04/01/99          0
    03113010                             O            03/01/29
    0
 
 
1
 
 
    1895284          E48/E48             F          308,000.00         ZZ
                                         360        307,759.73          1
    1536 ABBOTTSFORD DRIVE             7.250          2,101.10         80
                                       7.000          2,101.10      385,000.00
    BRENTWOOD        TN   37027          1            02/26/99         00
    05980216                             03           04/01/99          0
    05980216                             O            03/01/29
    0
 
 
    1895285          E82/G01             F          276,000.00         ZZ
                                         360        276,000.00          1
    448 NOB HILL DRIVE                 7.250          1,882.81         80
                                       7.000          1,882.81      345,000.00
    WALNUT CREEK     CA   94596          2            03/25/99         00
    0400188843                           05           05/01/99          0
    0400188843                           O            04/01/29
    0
 
 
    1895289          J95/J95             F          279,500.00         ZZ
                                         360        279,265.18          1
    5 BERGENFIELD COURT                6.875          1,836.12         84
                                       6.625          1,836.12      335,000.00
    GAITHERSBURG     MD   20878          2            03/01/99         10
    0016573255                           05           04/01/99         12
    0016573255                           O            03/01/29
    0
 
 
    1895295          J95/J95             F          278,000.00         ZZ
                                         360        278,000.00          1
    6437 WEST 77TH STREET              6.750          1,803.10         80
                                       6.500          1,803.10      347,500.00
    LOS ANGELES      CA   90045          1            03/05/99         00
    0013998752                           05           05/01/99          0
    0013998752                           O            04/01/29
    0
 
 
    1895296          J95/J95             F          274,500.00         ZZ
                                         360        274,311.09          1
    5714 JAMES WALK COURT              7.875          1,990.32         90
                                       7.625          1,990.32      305,000.00
    STONE MOUNTAIN   GA   30087          1            02/26/99         14
    0014293773                           05           04/01/99         25
    0014293773                           O            03/01/29
    0
 
 
    1895299          J95/J95             F          256,000.00         ZZ
                                         360        255,784.93          1
    3340 THORNTREE COURT               6.875          1,681.74         80
                                       6.625          1,681.74      320,000.00
1
 
 
    ARLINGTON        TX   76016          2            02/18/99         00
    0013019104                           05           04/01/99          0
    0013019104                           O            03/01/29
    0
 
 
    1895303          J95/J95             F          300,000.00         ZZ
                                         360        299,760.09          1
    2103 FARRELL AVENUE                7.125          2,021.16         80
    NO 1                               6.875          2,021.16      375,000.00
    REDONDO BEACH    CA   90278          1            02/11/99         00
    0014000681                           01           04/01/99          0
    0014000681                           O            03/01/29
    0
 
 
    1895313          J95/J95             F          399,200.00         ZZ
                                         360        398,872.78          1
    2024 23RD AVENUE EAST              7.000          2,655.89         80
                                       6.750          2,655.89      499,000.00
    SEATTLE          WA   98112          1            02/16/99         00
    0013314638                           05           04/01/99          0
    0013314638                           O            03/01/29
    0
 
 
    1895316          811/G01             F          297,600.00         ZZ
                                         360        297,600.00          1
    2720 CALHOUN STREET                7.125          2,004.99         80
                                       6.875          2,004.99      372,000.00
    ALAMADA          CA   94501          1            03/19/99         00
    0431273085                           05           05/01/99          0
    FM02105112                           O            04/01/29
    0
 
 
    1895323          638/G01             F          310,500.00         ZZ
                                         360        310,500.00          1
    15837 N PEACE PIPE PLACE           7.250          2,118.16         90
                                       7.000          2,118.16      345,000.00
    FOUNTAIN HILLS   AZ   85268          1            03/15/99         10
    0431271329                           03           05/01/99         25
    08859753                             O            04/01/29
    0
 
 
    1895330          J95/J95             F          300,000.00         ZZ
                                         360        299,760.09          1
    191 WINSLOW ROAD                   7.125          2,021.16         77
                                       6.875          2,021.16      393,000.00
    NEWTON           MA   02468          5            03/01/99         00
    0016583379                           05           04/01/99          0
    0016583379                           O            03/01/29
    0
1
 
 
 
 
    1895331          J95/J95             F          260,000.00         ZZ
                                         360        258,702.47          1
    1457 EAST DIXON PLACE              7.000          1,729.79         80
                                       6.750          1,729.79      325,000.00
    PLACENTIA        CA   92870          1            09/25/98         00
    13436456                             05           11/01/98          0
    13436456                             O            10/01/28
    0
 
 
    1895333          944/G01             F          380,000.00         ZZ
                                         360        380,000.00          1
    28370 FOX HOLLOW DRIVE             7.125          2,560.13         80
                                       6.875          2,560.13      475,000.00
    HAYWARD          CA   94542          2            03/18/99         00
    0431266675                           05           05/01/99          0
    990200195                            O            04/01/29
    0
 
 
    1895334          638/G01             F          164,350.00         ZZ
                                         360        164,350.00          1
    8757 COUNTRY VIEW AVE              7.500          1,149.16         10
                                       7.250          1,149.16    1,730,000.00
    LS VEGAS         NV   89129          2            03/11/99         00
    0431266311                           05           05/01/99          0
    8861909                              O            04/01/29
    0
 
 
    1895337          E82/G01             F          263,400.00         ZZ
                                         360        263,400.00          1
    113 TIMBER LANE                    7.500          1,841.73         74
                                       7.250          1,841.73      360,000.00
    WEST MILFORD     NJ   07435          2            03/26/99         00
    0400172409                           05           05/01/99          0
    0400172409                           O            04/01/29
    0
 
 
    1895342          J95/J95             F          404,000.00         ZZ
                                         360        403,660.59          1
    4500 DARTMOORE LANE                6.875          2,653.99         80
                                       6.625          2,653.99      505,000.00
    COLLEYVILLE      TX   76034          1            02/16/99         00
    0013019054                           05           04/01/99          0
    0013019054                           O            03/01/29
    0
 
 
    1895349          J95/J95             F          357,000.00         ZZ
                                         360        356,700.07          1
1
 
 
    3159 LUCAS DRIVE                   6.875          2,345.24         70
                                       6.625          2,345.24      510,000.00
    LAFAYETTE        CA   94549          5            02/24/99         00
    0016641227                           05           04/01/99          0
    0016641227                           O            03/01/29
    0
 
 
    1895351          638/G01             F          210,000.00         ZZ
                                         360        210,000.00          1
    145 SOUTH CANON DRIVE              7.375          1,450.42         61
    #101                               7.125          1,450.42      345,000.00
    BEVERLY HILLS    CA   90212          2            03/12/99         00
    0431270859                           01           05/01/99          0
    08861941                             O            04/01/29
    0
 
 
    1895353          J95/J95             F          256,000.00         ZZ
                                         360        255,810.01          1
    6106 SAINT ANDREWS WAY             7.500          1,789.99         80
                                       7.250          1,789.99      320,000.00
    LIVERMORE        CA   94550          2            02/16/99         00
    0013912365                           05           04/01/99          0
    0013912365                           O            03/01/29
    0
 
 
    1895354          664/G01             F          270,000.00         ZZ
                                         360        269,778.68          1
    2288 MEADOWSIDE DRIVE              7.000          1,796.32         77
                                       6.750          1,796.32      352,000.00
    THOUSDAND OAKS   CA   91362          2            02/26/99         00
    0431275304                           03           04/01/99          0
    2986479                              O            03/01/29
    0
 
 
    1895358          638/G01             F          311,200.00         ZZ
                                         360        311,200.00          1
    1478 S PRAIRIE DRIVE               7.375          2,149.38         80
                                       7.125          2,149.38      389,000.00
    CHICAGO          IL   60605          1            03/19/99         00
    0431273036                           01           05/01/99          0
    08857422                             O            04/01/29
    0
 
 
    1895362          638/G01             F          311,950.00         ZZ
                                         360        311,950.00          1
    5122 DIAMOND COURT                 7.000          2,075.41         80
                                       6.750          2,075.41      389,990.00
    PLESANTON        CA   94588          1            03/16/99         00
    0431272533                           03           05/01/99          0
1
 
 
    08850510                             O            04/01/29
    0
 
 
    1895369          638/G01             F          264,600.00         ZZ
                                         360        264,600.00          1
    3700 TIDEWATER DRIVE               7.000          1,760.39         70
                                       6.750          1,760.39      378,000.00
    PLANO            TX   75025          1            03/19/99         00
    0431271378                           05           05/01/99          0
    08854018                             O            04/01/29
    0
 
 
    1895382          J95/J95             F          447,900.00         ZZ
                                         360        447,523.70          1
    5690 BUCKLEIGH POINTE              6.875          2,942.39         80
                                       6.625          2,942.39      559,900.00
    SUWANEE          GA   30024          1            02/26/99         00
    0010607950                           03           04/01/99          0
    0010607950                           O            03/01/29
    0
 
 
    1895383          638/G01             F          296,100.00         ZZ
                                         360        296,100.00          1
    26 VALMAR TERRACE                  6.875          1,945.17         90
                                       6.625          1,945.17      329,000.00
    SAN FRANSISCO    CA   94112          1            03/15/99         10
    0431273044                           05           05/01/99         25
    8861206                              O            04/01/29
    0
 
 
    1895385          638/G01             F          330,000.00         ZZ
                                         360        330,000.00          1
    943 EAST KORSTEN ROAD              6.875          2,167.87         71
    #26                                6.625          2,167.87      470,000.00
    CASA GRANDE      AZ   85222          2            03/11/99         00
    0431271618                           09           05/01/99          0
    08853421                             O            04/01/29
    0
 
 
    1895393          638/G01             F          270,000.00         ZZ
                                         360        270,000.00          1
    1716 CATTAIL WOODS LANE            6.500          1,706.58         80
                                       6.250          1,706.58      340,000.00
    WOODBINE         MD   21797          1            03/22/99         00
    0431271519                           03           05/01/99          0
    08859885                             O            04/01/29
    0
 
 
1
 
 
    1895395          J95/J95             F          328,000.00         ZZ
                                         360        327,737.70          1
    1010 FOWLER STREET                 7.125          2,209.80         80
                                       6.875          2,209.80      410,000.00
    FALLS CHURCH     VA   22046          2            03/03/99         00
    16593378                             05           04/01/99          0
    16593378                             O            03/01/29
    0
 
 
    1895402          P60/G01             F          275,000.00         ZZ
                                         360        273,874.27          1
    11245 E BAYSHORE RD                8.000          2,017.85         62
                                       7.750          2,017.85      450,000.00
    MARBLEHEAD       OH   43440          5            09/11/98         00
    0431272483                           05           11/01/98          0
    6100031138                           O            10/01/28
    0
 
 
    1895406          J95/J95             F          302,500.00         ZZ
                                         360        302,245.86          1
    85290 RIDGETOP DRIVE               6.875          1,987.21         49
                                       6.625          1,987.21      621,000.00
    EUGENE           OR   97405          5            02/22/99         00
    0016602534                           05           04/01/99          0
    0016602534                           O            03/01/29
    0
 
 
    1895412          J95/J95             F          269,000.00         ZZ
                                         360        268,800.36          1
    6115 ELMBRIDGE DRIVE               7.500          1,880.89         71
                                       7.250          1,880.89      380,000.00
    SAN JOSE         CA   95129          2            02/16/99         00
    0016606964                           09           04/01/99          0
    0016606964                           O            03/01/29
    0
 
 
    1895414          J95/J95             F          360,000.00         ZZ
                                         360        357,648.44          1
    707 INTREPID WAY                   7.125          2,425.39         80
                                       6.875          2,425.39      450,000.00
    DAVIDSONVILLE    MD   21035          1            07/30/98         00
    0009451832                           03           09/01/98          0
    0009451832                           O            08/01/28
    0
 
 
    1895420          J95/J95             F          399,950.00         ZZ
                                         360        399,613.99          1
    6130 PARADISE POINT DRIVE          6.875          2,627.39         88
                                       6.625          2,627.39      455,000.00
1
 
 
    MIAMI            FL   33157          1            03/01/99         12
    0014061097                           03           04/01/99         25
    0014061097                           O            03/01/29
    0
 
 
    1895428          J95/J95             F          368,800.00         ZZ
                                         360        368,497.69          1
    2816 HILARY COURT                  7.000          2,453.64         80
                                       6.750          2,453.64      461,000.00
    THOUSAND OAKS    CA   91362          1            02/18/99         00
    0014000731                           05           04/01/99          0
    0014000731                           O            03/01/29
    0
 
 
    1895431          J95/J95             F          261,800.00         ZZ
                                         360        261,590.64          1
    915 SOUTHERS CIRCLE                7.125          1,763.80         95
                                       6.875          1,763.80      275,585.00
    SUWANEE          GA   30024          1            02/26/99         12
    0010557049                           03           04/01/99         30
    0010557049                           O            03/01/29
    0
 
 
    1895433          J95/J95             F          258,500.00         ZZ
                                         360        258,282.82          1
    10648 WEST CORNELL PLACE           6.875          1,698.17         90
                                       6.625          1,698.17      288,472.00
    LAKEWOOD         CO   80227          1            02/19/99         14
    907232                               03           04/01/99         25
    907232                               O            03/01/29
    0
 
 
    1895435          J95/J95             F          288,000.00         ZZ
                                         360        287,538.01          1
    1404 SOUTH UINTA COURT             7.125          1,940.31         71
                                       6.875          1,940.31      410,000.00
    DENVER           CO   80231          2            01/15/99         00
    0013653316                           03           03/01/99          0
    0013653316                           O            02/01/29
    0
 
 
    1895437          J95/J95             F          305,000.00         ZZ
                                         360        304,743.77          1
    8918 NORWICK ROAD                  6.875          2,003.63         67
                                       6.625          2,003.63      460,000.00
    RICHMOND         VA   23229          1            03/01/99         00
    0014045686                           05           04/01/99          0
    0014045686                           O            03/01/29
    0
1
 
 
 
 
    1895439          J95/J95             F          350,000.00         ZZ
                                         360        349,705.95          1
    5928 CHESTERBROOK ROAD             6.875          2,299.26         78
                                       6.625          2,299.26      450,000.00
    MCLEAN           VA   22101          2            02/19/99         00
    0016582264                           05           04/01/99          0
    0016582264                           O            03/01/29
    0
 
 
    1895441          J95/J95             F          300,000.00         ZZ
                                         360        299,760.09          1
    1445 SUMMIT LAKE DRIVE             7.125          2,021.16         80
                                       6.875          2,021.16      375,000.00
    ANGWIN           CA   94508          2            02/15/99         00
    0013800966                           05           04/01/99          0
    0013800966                           O            03/01/29
    0
 
 
    1895443          J95/J95             F          262,000.00         ZZ
                                         360        262,000.00          1
    2529 ARDILLA COURT                 7.375          1,809.57         80
                                       7.125          1,809.57      329,000.00
    SAN JOSE         CA   95128          1            03/05/99         00
    0014287858                           05           05/01/99          0
    0014287858                           O            04/01/29
    0
 
 
    1895445          J95/J95             F          481,000.00         ZZ
                                         360        480,585.87          1
    414 FOXBOROUGH DRIVE               6.750          3,119.76         77
                                       6.500          3,119.76      625,000.00
    MOUNTAIN VIEW    CA   94041          5            02/12/99         00
    0013913132                           05           04/01/99          0
    0013913132                           O            03/01/29
    0
 
 
    1895446          J95/J95             F          325,000.00         ZZ
                                         240        324,366.58          1
    2117 EAST SHELBY STREET            6.875          2,495.40         64
                                       6.625          2,495.40      510,000.00
    SEATTLE          WA   98112          5            02/09/99         00
    0016594566                           05           04/01/99          0
    0016594566                           O            03/01/19
    0
 
 
    1895448          J95/J95             F          250,700.00         ZZ
                                         360        250,700.00          1
1
 
 
    4008 MUDDY RIVER LANE              7.000          1,667.92         95
                                       6.750          1,667.92      263,932.00
    BUFORD           GA   30519          1            03/02/99         12
    0010578805                           03           05/01/99         30
    0010578805                           O            04/01/29
    0
 
 
    1895450          J95/J95             F          400,000.00         ZZ
                                         360        399,672.12          3
    619 WEST SURF                      7.000          2,661.21         77
                                       6.750          2,661.21      525,000.00
    CHICAGO          IL   60657          2            02/17/99         00
    0013786595                           05           04/01/99          0
    0013786595                           O            03/01/29
    0
 
 
    1895451          J95/J95             F          384,000.00         ZZ
                                         360        383,692.92          1
    2230 CALIFORNIA STREET NW          7.125          2,587.08         80
    #2AE                               6.875          2,587.08      480,000.00
    WASHINGTON       DC   20008          5            02/23/99         00
    0016598534                           08           04/01/99          0
    0016598534                           O            03/01/29
    0
 
 
    1895455          B57/G01             F          428,000.00         ZZ
                                         360        428,000.00          1
    2010 PIER AVENUE                   7.250          2,919.72         80
                                       7.000          2,919.72      535,000.00
    SANTA MONICA     CA   90405          1            03/15/99         00
    0431266519                           05           05/01/99          0
    9910327                              O            04/01/29
    0
 
 
    1895457          B57/G01             F          254,900.00         ZZ
                                         360        254,900.00          1
    440 IRMA DRIVE                     7.125          1,717.31         85
                                       6.875          1,717.31      300,000.00
    HOLLISTER        CA   95023          1            03/18/99         14
    0431273911                           05           05/01/99         12
    9870128                              O            04/01/29
    0
 
 
    1895487          L73/G01             F          367,000.00         ZZ
                                         360        367,000.00          1
    26 SILKWOOD                        7.375          2,534.78         90
                                       7.125          2,534.78      408,000.00
    ALISO VIEJO      CA   92656          1            03/22/99         04
    0431272905                           05           05/01/99         25
1
 
 
    0000                                 O            04/01/29
    0
 
 
    1895491          L16/G01             F          280,000.00         ZZ
                                         360        280,000.00          1
    495 EAST 4020 NORTH                7.250          1,910.09         75
                                       7.000          1,910.09      375,000.00
    PROVO            UT   84604          1            03/26/99         00
    0431267079                           05           05/01/99          0
    98120010                             O            04/01/29
    0
 
 
    1895498          562/562             F          354,000.00         ZZ
                                         360        354,000.00          1
    72 PINECREST DRIVE                 7.250          2,414.91         63
                                       7.000          2,414.91      570,000.00
    WOODCLIFF LAKE   NJ   07675          5            03/29/99         00
    592063                               05           05/01/99          0
    592063                               O            04/01/29
    0
 
 
    1895512          J95/J95             F          360,000.00         ZZ
                                         360        359,697.56          1
    6318 MT OLYMPUS DRIVE              6.875          2,364.94         80
                                       6.625          2,364.94      455,000.00
    CASTRO VALLEY    CA   94552          5            02/12/99         00
    0014285688                           03           04/01/99          0
    0014285688                           O            03/01/29
    0
 
 
    1895522          J95/J95             F          340,000.00         ZZ
                                         360        339,741.28          1
    11619 PINEDALE ROAD                7.375          2,348.30         80
                                       7.125          2,348.30      425,000.00
    MOORPARK         CA   93021          1            02/11/99         00
    0014254262                           03           04/01/99          0
    0014254262                           O            03/01/29
    0
 
 
    1895529          J95/J95             F          344,000.00         ZZ
                                         360        343,718.03          1
    2324 HENRIETTA AVENUE              7.000          2,288.64         80
                                       6.750          2,288.64      430,000.00
    LA CRESCENTA AR  CA   91214          5            02/02/99         00
    0013996947                           05           04/01/99          0
    0013996947                           O            03/01/29
    0
 
 
1
 
 
    1895530          J95/J95             F          384,000.00         ZZ
                                         360        383,715.02          1
    9282 SHADOW BROOK PLACE            7.500          2,684.98         80
                                       7.250          2,684.98      480,000.00
    GRANITE BAY      CA   95746          2            02/23/99         00
    0014168462                           05           04/01/99          0
    0014168462                           O            03/01/29
    0
 
 
    1895537          E82/G01             F          376,000.00         ZZ
                                         360        376,000.00          1
    26581 WEST 109TH STREET            7.500          2,629.05         74
                                       7.250          2,629.05      510,000.00
    OLATHE           KS   66061          2            03/26/99         00
    0400193363                           03           05/01/99          0
    1545467                              O            04/01/29
    0
 
 
    1895538          J95/J95             F          275,000.00         ZZ
                                         360        275,000.00          1
    1611 EAST REPUBLICAN STREET        6.875          1,806.55         69
                                       6.625          1,806.55      400,000.00
    SEATTLE          WA   98112          5            03/02/99         00
    0013918685                           05           05/01/99          0
    0013918685                           O            04/01/29
    0
 
 
    1895540          J95/J95             F          270,000.00         ZZ
                                         360        269,784.08          1
    10110 VAN RIPER LANE               7.125          1,819.05         76
                                       6.875          1,819.05      357,500.00
    NEWCASTLE        CA   95658          5            02/17/99         00
    0016582976                           05           04/01/99          0
    0016582976                           O            03/01/29
    0
 
 
    1895541          J95/J95             F          256,500.00         ZZ
                                         360        256,294.88          1
    1638 21ST AVENUE                   7.125          1,728.09         95
                                       6.875          1,728.09      270,000.00
    SEATTLE          WA   98122          1            02/09/99         04
    0013933080                           05           04/01/99         30
    0013933080                           O            03/01/29
    0
 
 
    1895542          J95/J95             F          260,300.00         ZZ
                                         360        260,096.95          1
    7712 EAST MANANA DRIVE             7.250          1,775.70         80
                                       7.000          1,775.70      325,409.00
1
 
 
    SCOTTSDALE       AZ   85255          1            02/19/99         00
    0014227219                           03           04/01/99          0
    0014227219                           O            03/01/29
    0
 
 
    1895543          J95/J95             F          500,000.00         ZZ
                                         360        500,000.00          1
    4738 25TH STREET                   6.875          3,284.65         80
                                       6.625          3,284.65      625,000.00
    SAN FRANCISCO    CA   94114          1            03/10/99         00
    0016600322                           01           05/01/99          0
    0016600322                           O            04/01/29
    0
 
 
    1895546          J95/J95             F          404,000.00         ZZ
                                         360        404,000.00          1
    7512 ROYAL DOMINION DRIVE          6.875          2,654.00         80
                                       6.625          2,654.00      505,000.00
    BETHESDA         MD   20817          1            03/15/99         00
    0016593550                           05           05/01/99          0
    0016593550                           O            04/01/29
    0
 
 
    1895548          J95/J95             F          307,200.00         ZZ
                                         360        306,941.92          1
    6116 ROBINWOOD ROAD                6.875          2,018.08         80
                                       6.625          2,018.08      384,000.00
    BETHESDA         MD   20817          1            02/26/99         00
    0016605255                           05           04/01/99          0
    0016605255                           O            03/01/29
    0
 
 
    1895553          J95/J95             F          263,000.00         ZZ
                                         360        263,000.00          1
    3435 214TH PLACE SE                7.250          1,794.12         76
                                       7.000          1,794.12      350,000.00
    ISSAQUAH         WA   98029          2            03/08/99         00
    0014312565                           03           05/01/99          0
    0014312565                           O            04/01/29
    0
 
 
    1895559          J95/J95             F          343,200.00         ZZ
                                         360        342,951.60          1
    1029 BLUEBONNET DRIVE              7.625          2,429.15         80
                                       7.375          2,429.15      429,000.00
    SUNNYVALE        CA   94086          1            02/24/99         00
    0016624090                           05           04/01/99          0
    0016624090                           O            03/01/29
    0
1
 
 
 
 
    1895560          J95/J95             F          337,500.00         ZZ
                                         360        337,216.45          1
    800 ST GEORGES ROAD                6.875          2,217.14         75
                                       6.625          2,217.14      450,000.00
    BALTIMORE        MD   21210          1            02/26/99         00
    9684358                              05           04/01/99          0
    9684358                              O            03/01/29
    0
 
 
    1895563          E82/G01             F          496,900.00         ZZ
                                         360        496,900.00          1
    6878 EAST BAR Z LANE               7.250          3,389.73         57
                                       7.000          3,389.73      875,000.00
    PARADISE VALLEY  AZ   85253          2            03/25/99         00
    0400193231                           05           05/01/99          0
    1677689                              O            04/01/29
    0
 
 
    1895564          J95/J95             F          274,950.00         ZZ
                                         360        274,735.52          1
    17543 DONMETZ STREET               7.250          1,875.64         79
                                       7.000          1,875.64      350,000.00
    GRANADA HILLS    CA   91344          2            03/08/99         00
    0014152235                           05           04/01/99          0
    0014152235                           O            03/01/29
    0
 
 
    1895567          J95/J95             F          251,200.00         ZZ
                                         360        251,200.00          1
    9856 SOUTH WYECLIFF DRIVE          7.000          1,671.24         80
                                       6.750          1,671.24      314,000.00
    LITTLETON        CO   80126          1            03/19/99         00
    0013857917                           03           05/01/99          0
    0013857917                           O            04/01/29
    0
 
 
    1895569          E82/G01             F          268,000.00         ZZ
                                         360        268,000.00          1
    4692 OLD CLEAR CREEK ROAD          7.375          1,851.01         77
                                       7.125          1,851.01      350,000.00
    CARSON CITY      NV   89703          2            03/26/99         00
    0400193664                           05           05/01/99          0
    1597886                              O            04/01/29
    0
 
 
    1895570          J95/J95             F          304,700.00         ZZ
                                         360        304,050.66          1
1
 
 
    128 E STREET SE                    7.750          2,182.91         89
                                       7.500          2,182.91      345,000.00
    WASHINGTON       DC   20003          2            12/23/98         10
    0013699805                           05           02/01/99         25
    0013699805                           O            01/01/29
    0
 
 
    1895571          J95/J95             F          284,000.00         ZZ
                                         360        283,761.40          1
    3601 SUNFLOWER CIRCLE              6.875          1,865.68         80
                                       6.625          1,865.68      355,000.00
    SEAL BEACH       CA   90740          1            02/23/99         00
    0014328231                           05           04/01/99          0
    0014328231                           O            03/01/29
    0
 
 
    1895574          J95/J95             F          351,600.00         ZZ
                                         360        351,339.06          1
    365 CALLE MARSEILLE                7.500          2,458.44         80
                                       7.250          2,458.44      445,000.00
    LONG BEACH       CA   90814          2            02/12/99         00
    0013999594                           07           04/01/99          0
    0013999594                           O            03/01/29
    0
 
 
    1895575          J95/J95             F          253,900.00         ZZ
                                         360        253,691.87          1
    13817 LAUREL ROCK COURT            7.000          1,689.21         77
                                       6.750          1,689.21      330,000.00
    CLIFTON          VA   20124          2            02/22/99         00
    9709593                              03           04/01/99          0
    9709593                              O            03/01/29
    0
 
 
    1895580          J95/J95             F          334,900.00         ZZ
                                         360        334,632.19          1
    4050 ALBERT CIRCLE                 7.125          2,256.28         77
                                       6.875          2,256.28      439,900.00
    EL DORADO HILLS  CA   95762          1            02/17/99         00
    0014170203                           05           04/01/99          0
    0014170203                           O            03/01/29
    0
 
 
    1895581          685/G01             F          147,200.00         ZZ
                                         360        147,200.00          1
    45107 CORTE BELLA DONNA            7.500          1,029.25         80
                                       7.250          1,029.25      184,000.00
    TEMECULA         CA   92592          1            03/26/99         00
    0431275494                           03           05/01/99          0
1
 
 
    118043                               O            04/01/29
    0
 
 
    1895582          J95/J95             F          201,700.00         ZZ
                                         360        198,060.33          1
    8912 HERITAGE DRIVE                8.000          1,480.00         80
                                       7.750          1,480.00      252,178.00
    WINDSOR          CA   95492          1            08/20/97         00
    0012022810                           05           10/01/97          0
    0012022810                           O            09/01/27
    0
 
 
    1895593          356/G01             F          370,000.00         ZZ
                                         360        370,000.00          1
    118 AUSTIN LANE                    7.250          2,524.06         62
                                       7.000          2,524.06      605,000.00
    ALAMO            CA   94507          2            03/17/99         00
    0431269349                           05           05/01/99          0
    2756963                              O            04/01/29
    0
 
 
    1895596          356/G01             F          463,000.00         ZZ
                                         360        463,000.00          1
    647 SAN BENITO AVENUE              7.500          3,237.37         57
                                       7.250          3,237.37      825,000.00
    LOS GATOS        CA   95030          5            03/10/99         00
    0431274430                           05           05/01/99          0
    2721249                              O            04/01/29
    0
 
 
    1895599          356/G01             F          270,000.00         ZZ
                                         360        269,364.29          1
    6921 CORTE PACIFICA                7.250          1,841.88         72
                                       7.000          1,841.88      375,000.00
    PLEASANTON       CA   94566          2            12/10/98         00
    0431272624                           05           02/01/99          0
    2636769                              O            01/01/29
    0
 
 
    1895603          420/G01             F          380,000.00         ZZ
                                         360        380,000.00          1
    126 MONTANA DRIVE                  7.500          2,657.02         80
                                       7.250          2,657.02      475,000.00
    DANVILLE         CA   94526          1            03/17/99         00
    0431267095                           05           05/01/99          0
    0000390500                           O            04/01/29
    0
 
 
1
 
 
    1895608          076/076             F          492,000.00         ZZ
                                         360        491,634.86          1
    43525 GALLEGOS AVENUE              7.500          3,440.14         71
                                       7.250          3,440.14      700,000.00
    FREMONT          CA   94539          2            02/12/99         00
    8380023                              05           04/01/99          0
    8380023                              O            03/01/29
    0
 
 
    1895609          076/076             F          466,000.00         ZZ
                                         360        465,618.02          1
    9508 HIGHLAND DRIVE                7.000          3,100.31         76
                                       6.750          3,100.31      615,000.00
    WAUSAU           WI   54401          2            01/29/99         00
    7416321                              05           04/01/99          0
    7416321                              O            03/01/29
    0
 
 
    1895610          076/076             F          450,000.00         ZZ
                                         360        449,631.13          1
    10110 NORTH 128TH STREET           7.000          2,993.86         72
                                       6.750          2,993.86      630,000.00
    SCOTTSDALE       AZ   85259          2            02/23/99         00
    7839646                              05           04/01/99          0
    7839646                              O            03/01/29
    0
 
 
    1895611          076/076             F          450,000.00         ZZ
                                         360        450,000.00          1
    8 ASPETUCK LANE                    6.750          2,918.69         67
                                       6.500          2,918.69      680,000.00
    WESTON           CT   06883          2            03/05/99         00
    8375155                              05           05/01/99          0
    8375155                              O            04/01/29
    0
 
 
    1895613          195/G01             F          410,000.00         ZZ
                                         360        410,000.00          1
    5015 FAIRBANKS WAY                 7.250          2,796.93         79
                                       7.000          2,796.93      520,000.00
    CULVER CITY      CA   90230          2            03/22/99         00
    0431272178                           05           05/01/99          0
    62396                                O            04/01/29
    0
 
 
    1895618          757/G01             F          272,000.00         ZZ
                                         360        272,000.00          1
    1140 NORTHRIDGE TRACE              7.125          1,832.51         85
                                       6.875          1,832.51      320,000.00
1
 
 
    ALBERTVILLE      AL   35951          2            03/24/99         14
    0431270875                           05           05/01/99         12
    8426900                              O            04/01/29
    0
 
 
    1895632          411/411             F          438,750.00         ZZ
                                         360        438,750.00          1
    9 SADDLE HILL LANE                 6.625          2,809.36         77
                                       6.375          2,809.36      574,000.00
    SOUTHBOROUGH     MA   01772          1            03/19/99         00
    20016338                             05           05/01/99          0
    20016338                             O            04/01/29
    0
 
 
    1895640          E33/G01             F          385,000.00         ZZ
                                         360        385,000.00          1
    617 E SCRANTON AVE                 7.000          2,561.41         70
                                       6.750          2,561.41      550,000.00
    LAKE BLUFF       IL   60044          2            03/26/99         00
    0431272467                           05           05/01/99          0
    545693091                            O            04/01/29
    0
 
 
    1895644          811/G01             F          383,000.00         ZZ
                                         360        383,000.00          1
    89 ARDEN ROAD                      7.500          2,677.99         71
                                       7.250          2,677.99      540,000.00
    BERKELEY         CA   94704          2            03/16/99         00
    0431273879                           05           05/01/99          0
    FM02104571                           O            04/01/29
    0
 
 
    1895650          638/G01             F          198,000.00         ZZ
                                         360        198,000.00          1
    1125 ALDER CREEK WAY               7.250          1,350.71         80
                                       7.000          1,350.71      247,500.00
    BRENTWOOD        CA   94513          1            03/11/99         00
    0431272137                           05           05/01/99          0
    8858369                              O            04/01/29
    0
 
 
    1895665          638/G01             F          297,500.00         ZZ
                                         360        297,500.00          1
    33 SARENEE CIRCLE                  7.125          2,004.31         70
                                       6.875          2,004.31      425,000.00
    TRUMBULL         CT   06011          1            03/23/99         00
    0431275015                           05           05/01/99          0
    08856877                             O            04/01/29
    0
1
 
 
 
 
    1895671          665/G01             F          357,350.00         ZZ
                                         360        357,350.00          1
    2765 CASA GRANDE COURT             7.625          2,529.30         90
                                       7.375          2,529.30      397,500.00
    MORGAN HILL      CA   95037          1            03/01/99         04
    0431268390                           05           05/01/99         25
    9901228517                           O            04/01/29
    0
 
 
    1895673          638/G01             F          290,000.00         ZZ
                                         360        290,000.00          1
    3264 VALLEJO PLACE                 7.250          1,978.31         78
                                       7.000          1,978.31      375,000.00
    SAN RAMON        CA   94583          2            03/15/99         00
    0431273846                           05           05/01/99          0
    08845200                             O            04/01/29
    0
 
 
    1895676          944/G01             F          320,250.00         ZZ
                                         360        320,250.00          1
    16670 NINA LANE                    6.875          2,103.81         75
                                       6.625          2,103.81      427,000.00
    MORGAN HILL      CA   95037          1            03/23/99         00
    0431274497                           05           05/01/99          0
    17181                                O            04/01/29
    0
 
 
    1895679          638/G01             F          258,964.00         ZZ
                                         360        258,964.00          1
    8320 JORDAN VALLEY WAY             7.000          1,722.89         80
                                       6.750          1,722.89      323,705.00
    FREDERICK        MD   21702          1            03/23/99         00
    0431273895                           03           05/01/99          0
    08773913                             O            04/01/29
    0
 
 
    1895681          638/G01             F          405,000.00         ZZ
                                         360        405,000.00          1
    21 SANTA MARIA                     7.250          2,762.81         80
                                       7.000          2,762.81      510,000.00
    FOOTHILL RANCH   CA   92610          5            03/15/99         00
    0431273614                           03           05/01/99          0
    08852569                             O            04/01/29
    0
 
 
    1895685          638/G01             F          180,000.00         ZZ
                                         360        180,000.00          1
1
 
 
    1565 LOCUST DRIVE                  7.250          1,227.92         75
                                       7.000          1,227.92      243,000.00
    TRACY            CA   95376          1            03/11/99         00
    0431273804                           05           05/01/99          0
    08862638                             O            04/01/29
    0
 
 
    1895686          638/G01             F          332,000.00         ZZ
                                         360        332,000.00          1
    218 PACIFICA WAY                   7.250          2,264.83         90
                                       7.000          2,264.83      369,888.00
    MILPITAS         CA   95035          1            03/15/99         10
    0431273713                           05           05/01/99         25
    08864076                             O            04/01/29
    0
 
 
    1895689          638/G01             F          520,000.00         ZZ
                                         360        520,000.00          1
    39 BELLE AVE                       6.750          3,372.71         70
                                       6.500          3,372.71      745,000.00
    SAN ANSELMO      CA   94960          1            03/15/99         00
    0431273747                           05           05/01/99          0
    08861944                             O            04/01/29
    0
 
 
    1895693          638/G01             F          280,000.00         ZZ
                                         360        280,000.00          1
    104 SHIPLEY AVE                    7.250          1,910.09         80
                                       7.000          1,910.09      350,000.00
    DALY CITY        CA   94015          5            03/10/99         00
    0431273762                           05           05/01/99          0
    08866181                             O            04/01/29
    0
 
 
    1895694          638/G01             F          296,150.00         ZZ
                                         360        296,150.00          1
    731 EAST MAJESTIC PINE             7.375          2,045.43         75
                                       7.125          2,045.43      394,900.00
    SALT LAKE CITY   UT   84107          1            03/23/99         00
    0431273382                           05           05/01/99          0
    08866413                             O            04/01/29
    0
 
 
    1895698          638/G01             F          400,000.00         ZZ
                                         360        400,000.00          1
    11351 CHALON  ROAD                 6.875          2,627.72         31
                                       6.625          2,627.72    1,330,000.00
    BEL AIR          CA   90049          1            03/12/99         00
    0431273341                           05           05/01/99          0
1
 
 
    08864722                             O            04/01/29
    0
 
 
    1895702          638/G01             F          253,000.00         ZZ
                                         360        253,000.00          1
    5144 ANGELICO COURT                7.250          1,725.90         74
                                       7.000          1,725.90      343,003.00
    PLEASANTON       CA   94588          1            03/16/99         00
    0431272764                           03           05/01/99          0
    8866675                              O            04/01/29
    0
 
 
    1895705          638/G01             F          220,000.00         ZZ
                                         360        220,000.00          1
    29139 HILLRISE DRIVE               7.625          1,557.15         78
                                       7.375          1,557.15      282,500.00
    AGOURA HILLS     CA   91301          2            03/17/99         00
    0431274281                           05           05/01/99          0
    08864592                             O            04/01/29
    0
 
 
    1895714          638/G01             F          288,720.00         ZZ
                                         360        288,720.00          1
    5 REVELLE STREET                   7.125          1,945.16         80
                                       6.875          1,945.16      360,900.00
    ANNAPOLIS        MD   21401          1            03/23/99         00
    0431273572                           05           05/01/99          0
    08856336                             O            04/01/29
    0
 
 
    1895740          J95/J95             F          277,500.00         ZZ
                                         360        277,500.00          1
    5675 COMANCHE DRIVE                6.875          1,822.98         74
                                       6.625          1,822.98      377,500.00
    SAN JOSE         CA   95123          1            03/01/99         00
    0014288773                           05           05/01/99          0
    0014288773                           O            04/01/29
    0
 
 
    1895742          J95/J95             F          320,700.00         ZZ
                                         360        320,455.97          1
    8317 LA BAJADA AVENUE              7.375          2,215.00         77
                                       7.125          2,215.00      420,000.00
    WHITTIER         CA   90605          2            02/18/99         00
    0013997861                           05           04/01/99          0
    0013997861                           O            03/01/29
    0
 
 
1
 
 
    1895746          J95/J95             F          265,700.00         ZZ
                                         360        265,263.15          1
    25 FOREST MEADOW                   7.000          1,767.71         80
                                       6.750          1,767.71      332,150.00
    ROME             GA   30165          1            01/05/99         00
    0010568897                           05           03/01/99          0
    0010568897                           O            02/01/29
    0
 
 
    1895750          J95/J95             F          290,000.00         ZZ
                                         360        289,762.29          1
    1532 VANCOUVER WAY                 7.000          1,929.38         88
                                       6.750          1,929.38      330,000.00
    LIVERMORE        CA   94550          2            02/16/99         04
    0014285787                           05           04/01/99         25
    0014285787                           O            03/01/29
    0
 
 
    1895751          J95/J95             F          355,000.00         ZZ
                                         360        354,749.45          1
    95-B FREDERICK STREET              7.750          2,543.26         71
                                       7.500          2,543.26      500,000.00
    SANTA CRUZ       CA   95062          2            02/24/99         00
    0014287361                           03           04/01/99          0
    0014287361                           O            03/01/29
    0
 
 
    1895752          J95/J95             F          284,200.00         ZZ
                                         360        284,200.00          1
    30 LESSAY                          6.875          1,866.99         62
                                       6.625          1,866.99      459,000.00
    NEWPORT COAST A  CA   92657          2            03/09/99         00
    0014327944                           01           05/01/99          0
    0014327944                           O            04/01/29
    0
 
 
    1895755          J95/J95             F          268,800.00         ZZ
                                         360        268,605.45          1
    1050 SAN RAMON WAY                 7.625          1,902.55         80
                                       7.375          1,902.55      336,000.00
    SACRAMENTO       CA   95864          1            02/09/99         00
    0014170518                           05           04/01/99          0
    0014170518                           O            03/01/29
    0
 
 
    1895756          J95/J95             F          464,000.00         ZZ
                                         360        464,000.00          1
    4811 ENFIELD ROAD                  7.125          3,126.06         80
                                       6.875          3,126.06      580,000.00
1
 
 
    BETHESDA         MD   20814          2            03/11/99         00
    0016573925                           05           05/01/99          0
    0016573925                           O            04/01/29
    0
 
 
    1895759          J95/J95             F          310,000.00         ZZ
                                         360        309,758.17          1
    6532 NORTH TRUMBULL AVENUE         7.250          2,114.75         65
                                       7.000          2,114.75      482,000.00
    LINCOLNWOOD      IL   60645          5            02/16/99         00
    0013779657                           05           04/01/99          0
    0013779657                           O            03/01/29
    0
 
 
    1895760          J95/J95             F          332,500.00         ZZ
                                         360        332,500.00          1
    325 LEXINGTON WAY                  7.125          2,240.11         70
                                       6.875          2,240.11      475,000.00
    BURLINGAME       CA   94010          1            03/08/99         00
    0013912845                           05           05/01/99          0
    0013912845                           O            04/01/29
    0
 
 
    1895762          J95/J95             F          323,900.00         ZZ
                                         360        323,900.00          1
    6 FOXCHASE                         6.375          2,020.71         80
                                       6.125          2,020.71      404,900.00
    IRVINE           CA   92618          1            03/08/99         00
    0014328413                           03           05/01/99          0
    0014328413                           O            04/01/29
    0
 
 
    1895765          J95/J95             F          306,000.00         ZZ
                                         360        306,000.00          1
    1080 MONICA LANE                   7.250          2,087.46         72
                                       7.000          2,087.46      425,000.00
    SAN JOSE         CA   95128          2            03/03/99         00
    0014288047                           05           05/01/99          0
    0014288047                           O            04/01/29
    0
 
 
    1895766          J95/J95             F          286,500.00         ZZ
                                         360        286,270.89          1
    8215 147TH AVENUE SE               7.125          1,930.20         78
                                       6.875          1,930.20      370,000.00
    NEW CASTLE       WA   98059          2            02/08/99         00
    0013917935                           03           04/01/99          0
    0013917935                           O            03/01/29
    0
1
 
 
 
 
    1895769          J95/J95             F          520,500.00         ZZ
                                         360        520,062.72          1
    2506 BRENNEN WAY                   6.875          3,419.31         80
                                       6.625          3,419.31      650,721.00
    FULLERTON        CA   92835          1            02/09/99         00
    0013996731                           03           04/01/99          0
    0013996731                           O            03/01/29
    0
 
 
    1895773          J95/J95             F          336,100.00         ZZ
                                         360        335,817.63          1
    5182 COZY COVE LANE                6.875          2,207.94         66
                                       6.625          2,207.94      510,000.00
    FLOWERY BRANCH   GA   30542          5            02/26/99         00
    0014293971                           05           04/01/99          0
    0014293971                           O            03/01/29
    0
 
 
    1895775          J95/J95             F          304,250.00         ZZ
                                         360        304,250.00          1
    6104 TRACKLESS SEA COURT           6.875          1,998.71         76
                                       6.625          1,998.71      404,763.00
    CLARKSVILLE      MD   21029          1            03/04/99         00
    9716739                              05           05/01/99          0
    9716739                              O            04/01/29
    0
 
 
    1895777          J95/J95             F          262,250.00         ZZ
                                         360        262,040.28          1
    1396 BAY DRIVE                     7.125          1,766.83         75
                                       6.875          1,766.83      350,000.00
    MIAMI            FL   33141          2            02/22/99         00
    0010192839                           05           04/01/99          0
    0010192839                           O            03/01/29
    0
 
 
    1895781          J95/J95             F          295,000.00         ZZ
                                         360        294,526.78          1
    1005 RIVERSIDE TRACE               7.125          1,987.47         64
                                       6.875          1,987.47      465,000.00
    ATLANTA          GA   30328          5            01/20/99         00
    0014071104                           05           03/01/99          0
    0014071104                           O            02/01/29
    0
 
 
    1895782          J95/J95             F          468,750.00         ZZ
                                         360        468,375.14          1
1
 
 
    11208 SORREL RIDGE LANE            7.125          3,158.06         72
                                       6.875          3,158.06      655,000.00
    OAKTON           VA   22124          2            02/10/99         00
    0009691627                           05           04/01/99          0
    0009691627                           O            03/01/29
    0
 
 
    1895786          J95/J95             F          280,000.00         ZZ
                                         360        279,764.76          1
    3011 PHYLLMAR PLACE                6.875          1,839.41         73
                                       6.625          1,839.41      385,000.00
    OAKTON           VA   22124          5            02/26/99         00
    0016589996                           05           04/01/99          0
    0016589996                           O            03/01/29
    0
 
 
    1895787          J95/J95             F          269,550.00         ZZ
                                         360        269,329.05          1
    5002 EAST CHOLLA STREET            7.000          1,793.32         90
                                       6.750          1,793.32      299,500.00
    PHOENIX          AZ   85254          1            02/18/99         01
    0013889712                           05           04/01/99         25
    0013889712                           O            03/01/29
    0
 
 
    1895790          J95/J95             F          299,250.00         ZZ
                                         360        299,010.70          1
    3013 BRADSHAW CLUB DRIVE           7.125          2,016.10         95
                                       6.875          2,016.10      315,000.00
    WOODSTOCK        GA   30188          1            02/26/99         10
    13709894                             03           04/01/99         30
    13709894                             O            03/01/29
    0
 
 
    1895793          J95/J95             F          400,000.00         ZZ
                                         360        399,325.97          1
    3033 NE BRYCE STREET               6.875          2,627.72         66
                                       6.625          2,627.72      610,000.00
    PORTLAND         OR   97212          1            01/06/99         00
    0016388654                           05           03/01/99          0
    0016388654                           O            02/01/29
    0
 
 
    1895795          J95/J95             F          460,000.00         ZZ
                                         360        458,092.54          1
    12040 E POINTSETTIA DRIVE          7.000          3,060.40         80
                                       6.750          3,060.40      575,000.00
    SCOTTSDALE       AZ   85259          1            10/26/98         00
    16198210                             03           12/01/98          0
1
 
 
    16198210                             O            11/01/28
    0
 
 
    1895800          J95/J95             F          332,000.00         ZZ
                                         360        332,000.00          1
    2303 FARMCREST STREET              6.875          2,181.01         80
                                       6.625          2,181.01      415,000.00
    MILPITAS         CA   95035          1            03/02/99         00
    16650335                             03           05/01/99          0
    16650335                             O            04/01/29
    0
 
 
    1895803          J95/J95             F          612,000.00         ZZ
                                         360        611,485.85          1
    252 OLD ADOBE ROAD                 6.875          4,020.40         80
                                       6.625          4,020.40      765,000.00
    LOS GATOS        CA   95032          1            02/17/99         00
    0013913355                           05           04/01/99          0
    0013913355                           O            03/01/29
    0
 
 
    1895818          J95/J95             F          254,400.00         ZZ
                                         360        254,186.27          1
    5010 RIVERFIELD DRIVE              6.875          1,671.23         80
                                       6.625          1,671.23      318,000.00
    NORCROSS         GA   30092          1            02/25/99         00
    0010175123                           05           04/01/99          0
    0010175123                           O            03/01/29
    0
 
 
    1895820          J95/J95             F          307,000.00         ZZ
                                         360        306,754.49          1
    670 PAMLAR AVENUE                  7.125          2,068.32         77
                                       6.875          2,068.32      400,000.00
    SANB JOSE        CA   95128          2            02/10/99         00
    0014171557                           05           04/01/99          0
    0014171557                           O            03/01/29
    0
 
 
    1895821          J95/J95             F          315,000.00         ZZ
                                         360        315,000.00          1
    41 WASHINGTON                      7.000          2,095.70         80
                                       6.750          2,095.70      397,000.00
    IRVINE           CA   92606          2            03/04/99         00
    0014328058                           03           05/01/99          0
    0014328058                           O            04/01/29
    0
 
 
1
 
 
    1895822          J95/J95             F          430,000.00         ZZ
                                         360        430,000.00          1
    25 PHINNEY ROAD                    7.000          2,860.81         80
                                       6.750          2,860.81      540,000.00
    LEXINGTON        MA   02421          2            03/12/99         00
    0026606907                           05           05/01/99          0
    0026606907                           O            04/01/29
    0
 
 
    1895824          J95/J95             F          252,000.00         ZZ
                                         360        251,793.44          1
    635 GLENRIDGE CLOSE DRIVE          7.000          1,676.56         80
                                       6.750          1,676.56      315,000.00
    ATLANTA          GA   30328          1            02/25/99         00
    0014291173                           05           04/01/99          0
    0014291173                           O            03/01/29
    0
 
 
    1895826          J95/J95             F          268,800.00         ZZ
                                         360        268,800.00          1
    10202 WEST OAKCREST AVENUE         6.875          1,765.82         80
                                       6.625          1,765.82      336,000.00
    BREA             CA   92821          2            03/10/99         00
    0014256515                           05           05/01/99          0
    0014256515                           O            04/01/29
    0
 
 
    1895829          J95/J95             F          334,000.00         ZZ
                                         360        333,732.90          1
    42 HUCKLEBERRY LANE                7.125          2,250.23         78
                                       6.875          2,250.23      430,000.00
    NORTH ANDOVER    MA   01895          2            02/25/99         00
    0016575797                           05           04/01/99          0
    0016575797                           O            03/01/29
    0
 
 
    1895831          J95/J95             F          287,900.00         ZZ
                                         360        287,675.41          1
    504 HILLSHIRE COURT                7.250          1,963.99         80
                                       7.000          1,963.99      359,900.00
    WOODSTOCK        GA   30189          1            03/01/99         00
    0014292098                           03           04/01/99          0
    0014292098                           O            03/01/29
    0
 
 
    1895833          J95/J95             F          327,000.00         ZZ
                                         360        326,744.91          1
    7949 S FILLMORE COURT              7.250          2,230.72         75
                                       7.000          2,230.72      440,000.00
1
 
 
    LITTLETON        CO   80122          5            02/19/99         00
    0013867544                           05           04/01/99          0
    0013867544                           O            03/01/29
    0
 
 
    1895838          J95/J95             F          300,000.00         ZZ
                                         360        300,000.00          1
    14 SNOWBERRY LANE                  6.875          1,970.79         48
                                       6.625          1,970.79      625,000.00
    ORINDA           CA   94963          1            03/02/99         00
    0016572513                           05           05/01/99          0
    0016572513                           O            04/01/29
    0
 
 
    1895844          E82/G01             F          245,700.00         ZZ
                                         360        245,700.00          1
    3200 WEST LA ROTONDA DRIVE,        7.250          1,676.11         78
    UNIT # 304                         7.000          1,676.11      315,000.00
    RANCHO PALOS VE  CA   90274          2            03/27/99         00
    0400193447                           01           05/01/99          0
    1688243                              O            04/01/29
    0
 
 
    1895846          E82/G01             F          286,700.00         ZZ
                                         360        286,700.00          1
    8868 EAST CALLE DE LAS BRISAS      7.125          1,931.55         80
                                       6.875          1,931.55      359,718.00
    SCOTTSDALE       AZ   85255          2            03/27/99         00
    0400190146                           03           05/01/99          0
    1598810                              O            04/01/29
    0
 
 
    1895855          F27/F27             F          334,400.00         ZZ
                                         360        334,112.09          1
    LOT 27 POTOMAC COURT               6.750          2,168.91         80
                                       6.500          2,168.91      419,000.00
    WARRENTON        VA   20187          1            02/15/99         11
    6060031310                           03           04/01/99         30
    6060031310                           O            03/01/29
    0
 
 
    1895867          F27/F27             F          345,400.00         ZZ
                                         360        345,150.01          1
    6951 JEREMIAH COURT                7.625          2,444.72         90
                                       7.375          2,444.72      383,789.00
    MANASSAS         VA   20111          1            02/16/99         14
    6060022117                           05           04/01/99         25
    6060022117                           O            03/01/29
    0
1
 
 
 
 
    1895882          964/G01             F          319,200.00         ZZ
                                         360        319,200.00          1
    7 HEARTWOOD COURT                  7.375          2,204.64         80
                                       7.125          2,204.64      399,900.00
    SAN RAFAEL       CA   94901          1            03/03/99         00
    0431269869                           05           05/01/99          0
    41560                                O            04/01/29
    0
 
 
    1895896          638/G01             F          266,400.00         ZZ
                                         360        266,400.00          1
    3031 CALLE JUAREZ                  7.250          1,817.32         80
                                       7.000          1,817.32      333,000.00
    SAN CLEMENTE     CA   92673          1            03/16/99         00
    0431272947                           05           05/01/99          0
    08865372                             O            04/01/29
    0
 
 
    1895907          811/G01             F          280,000.00         ZZ
                                         360        280,000.00          1
    9465 EAGLE VIEW WAY                7.500          1,957.80         80
                                       7.250          1,957.80      350,000.00
    GILROY           CA   95020          1            03/22/99         00
    0431274976                           05           05/01/99          0
    FM02210147                           O            04/01/29
    0
 
 
    1895910          E33/G01             F          520,000.00         ZZ
                                         360        520,000.00          1
    222 E SHERIDAN PLACE               7.000          3,459.57         79
                                       6.750          3,459.57      665,000.00
    LAKE BLUFF       IL   60044          2            03/26/99         00
    0431274067                           05           05/01/99          0
    262298820                            O            04/01/29
    0
 
 
    1895915          811/G01             F          400,000.00         ZZ
                                         360        400,000.00          1
    215 CHANNING ROAD                  7.250          2,728.71         74
                                       7.000          2,728.71      545,500.00
    BURLINGAME       CA   94010          1            03/24/99         00
    0431273408                           05           05/01/99          0
    FM02209576                           O            04/01/29
    0
 
 
    1895921          638/G01             F          160,000.00         ZZ
                                         360        160,000.00          1
1
 
 
    4840 WEST 115TH STREET             7.500          1,118.74         79
                                       7.250          1,118.74      203,000.00
    HAWTHORNE        CA   90250          2            03/18/99         00
    0431273945                           05           05/01/99          0
    08840073                             O            04/01/29
    0
 
 
    1895925          638/G01             F           87,100.00         ZZ
                                         360         87,100.00          1
    947 SUNNYOAK WAY                   7.125            586.81         74
                                       6.875            586.81      118,000.00
    STOCKTON         CA   95209          2            03/17/99         00
    0431274018                           05           05/01/99          0
    08861203                             O            04/01/29
    0
 
 
    1895927          638/G01             F          345,100.00         ZZ
                                         360        345,100.00          1
    1968 EAST RIO WAY                  7.125          2,325.00         70
                                       6.875          2,325.00      493,000.00
    SANDY            UT   84093          5            03/24/99         00
    0431273887                           05           05/01/99          0
    08867005                             O            04/01/29
    0
 
 
    1895928          638/G01             F          440,250.00         ZZ
                                         360        440,250.00          1
    1038 EAST LIBRA DRIVE              7.125          2,966.05         75
                                       6.875          2,966.05      587,000.00
    TEMPE            AZ   85283          5            03/18/99         00
    0431273853                           05           05/01/99          0
    08863084                             O            04/01/29
    0
 
 
    1895931          638/G01             F          306,800.00         ZZ
                                         360        306,800.00          1
    2873 MONTAIR WAY                   7.000          2,041.15         80
                                       6.750          2,041.15      383,500.00
    UNION CITY       CA   94587          1            03/18/99         00
    0431273903                           03           05/01/99          0
    08860087                             O            04/01/29
    0
 
 
    1895936          B57/G01             F          367,000.00         ZZ
                                         360        367,000.00          1
    303 AMALFI DRIVE                   7.000          2,441.67         44
                                       6.750          2,441.67      850,000.00
    LOS ANGELES      CA   90402          1            03/25/99         00
    0431271121                           05           05/01/99          0
1
 
 
    000                                  O            04/01/29
    0
 
 
    1895937          638/G01             F          277,000.00         ZZ
                                         360        277,000.00          1
    32 MEADOWBROOK LANE                7.250          1,889.63         77
                                       7.000          1,889.63      360,000.00
    WESTPORT         MA   02790          2            03/22/99         00
    0431272772                           05           05/01/99          0
    08868205                             O            04/01/29
    0
 
 
    1895938          E82/G01             F          316,000.00         ZZ
                                         360        316,000.00          1
    1089 SANTA CRUZ CIRCLE             7.125          2,128.95         74
                                       6.875          2,128.95      430,000.00
    COSTA MESA       CA   92626          5            03/26/99         00
    0400185609                           05           05/01/99          0
    0400185609                           O            04/01/29
    0
 
 
    1895942          638/G01             F          400,000.00         ZZ
                                         360        400,000.00          1
    11 MANDALAY COURT                  7.125          2,694.87         50
                                       6.875          2,694.87      810,000.00
    REDWOOD CITY     CA   94065          2            03/17/99         00
    0431272939                           03           05/01/99          0
    08857676                             O            04/01/29
    0
 
 
    1895943          B57/G01             F          504,000.00         ZZ
                                         360        504,000.00          1
    14811 DRUMMOND STREET              7.500          3,524.05         80
                                       7.250          3,524.05      630,000.00
    LOS ANGELES      CA   90272          1            03/24/99         00
    0431271642                           05           05/01/99          0
    000                                  O            04/01/29
    0
 
 
    1895944          638/G01             F          190,000.00         ZZ
                                         360        190,000.00          1
    561 NORTH LUCERNE BOULEVARD        7.125          1,280.07         35
                                       6.875          1,280.07      550,000.00
    LOS ANGELES      CA   90004          2            03/16/99         00
    0431272962                           05           05/01/99          0
    08864773                             O            04/01/29
    0
 
 
1
 
 
    1895962          420/G01             F          219,950.00         ZZ
                                         360        219,950.00          1
    33580 BARDOLPH CIRCLE              7.250          1,500.45         80
                                       7.000          1,500.45      274,950.00
    FREMONT          CA   94555          1            03/12/99         00
    0431271337                           05           05/01/99          0
    0000410639                           O            04/01/29
    0
 
 
    1895966          624/G01             F          464,000.00         ZZ
                                         360        464,000.00          1
    374 SUNSET LANE                    7.250          3,165.30         80
                                       7.000          3,165.30      580,000.00
    SOQUEL           CA   95073          1            03/23/99         00
    0431271287                           05           05/01/99          0
    46001490066                          O            04/01/29
    0
 
 
    1895978          J95/J95             F          299,000.00         ZZ
                                         360        298,766.75          1
    14109 ROCKSPRINGS COURT            7.250          2,039.71         63
                                       7.000          2,039.71      475,000.00
    DALLAS           TX   75240          5            02/08/99         00
    0013741343                           03           04/01/99          0
    0013741343                           O            03/01/29
    0
 
 
    1895980          956/G01             F          480,000.00         ZZ
                                         360        480,000.00          1
    4220 S PIERCE ST                   7.125          3,233.85         80
                                       6.875          3,233.85      600,000.00
    DENVER           CO   80235          1            03/23/99         00
    0431272210                           05           05/01/99          0
    2209030143                           O            04/01/29
    0
 
 
    1895984          J95/J95             F          388,800.00         ZZ
                                         360        388,481.30          1
    6414 NORTH 29TH STREET             7.000          2,586.70         73
                                       6.750          2,586.70      535,000.00
    PHOENIX          AZ   85016          2            02/15/99         00
    0016584245                           03           04/01/99          0
    0016584245                           O            03/01/29
    0
 
 
    1895987          956/G01             F          650,000.00         ZZ
                                         360        649,467.20          1
    4900 REDWOOD ROAD                  7.000          4,324.47         26
                                       6.750          4,324.47    2,500,000.00
1
 
 
    NAPA             CA   94558          2            02/23/99         00
    0431275478                           05           04/01/99          0
    809020245                            O            03/01/29
    0
 
 
    1895992          961/G01             F          356,000.00         ZZ
                                         360        356,000.00          1
    2366 NORTH SPRINGWINDS LANE        7.125          2,398.44         77
                                       6.875          2,398.44      465,000.00
    ORANGE           CA   92687          2            03/16/99         00
    0431272111                           03           05/01/99          0
    09112247                             O            04/01/29
    0
 
 
    1895993          956/G01             F          297,500.00         ZZ
                                         360        297,500.00          1
    5525 SANDBURG AVENUE               6.875          1,954.36         70
                                       6.625          1,954.36      430,000.00
    SAN DIEGO        CA   92122          2            03/03/99         00
    0431272996                           05           05/01/99          0
    1509020189                           O            04/01/29
    0
 
 
    1895997          J95/J95             F          528,000.00         ZZ
                                         360        527,598.24          1
    7553 BAY LAUREL COURT              7.375          3,646.76         80
                                       7.125          3,646.76      660,000.00
    DUBLIN           CA   94568          1            02/17/99         00
    0013913223                           03           04/01/99          0
    0013913223                           O            03/01/29
    0
 
 
    1896008          P67/G01             F          370,000.00         ZZ
                                         360        370,000.00          1
    2 OLD VILLAGE ROAD                 7.000          2,461.62         70
                                       6.750          2,461.62      530,000.00
    ACTON            MA   01730          1            03/31/99         00
    0431281633                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1896026          J95/J95             F          472,000.00         ZZ
                                         360        471,603.47          1
    2500 BRENNEN WAY                   6.875          3,100.70         71
                                       6.625          3,100.70      672,000.00
    FULLERTON        CA   92835          1            02/17/99         00
    0013999735                           03           04/01/99          0
    0013999735                           O            03/01/29
    0
1
 
 
 
 
    1896034          J95/J95             F          362,050.00         ZZ
                                         360        362,050.00          1
    4824 LINARO DRIVE                  7.250          2,469.82         80
                                       7.000          2,469.82      455,000.00
    CYPRESS          CA   90630          2            03/09/99         00
    0014254114                           05           05/01/99          0
    0014254114                           O            04/01/29
    0
 
 
    1896036          731/G01             F          240,000.00         ZZ
                                         360        240,000.00          1
    3542 MILITARY AVENUE               7.500          1,678.11         80
                                       7.250          1,678.11      300,000.00
    LOS ANGELES      CA   90034          1            03/18/99         00
    0431274877                           05           05/01/99          0
    1001877                              O            04/01/29
    0
 
 
    1896042          665/G01             F          424,000.00         ZZ
                                         360        424,000.00          1
    650 E WILLIAM STREET               7.000          2,820.88         80
                                       6.750          2,820.88      530,000.00
    SAN JOSE         CA   95112          2            03/11/99         00
    0431269893                           05           05/01/99          0
    9901228388                           O            04/01/29
    0
 
 
    1896048          J95/J95             F          292,000.00         ZZ
                                         360        291,766.49          1
    2715 FRESNO STREET                 7.125          1,967.26         77
                                       6.875          1,967.26      380,000.00
    SANTA CRUZ       CA   95062          2            02/17/99         00
    0013910542                           05           04/01/99          0
    0013910542                           O            03/01/29
    0
 
 
    1896053          J95/J95             F          303,200.00         ZZ
                                         360        303,200.00          1
    534 SHOREBIRD CIRCLE               7.125          2,042.72         80
    #17102                             6.875          2,042.72      379,000.00
    REDWOOD CITY     CA   94065          1            03/01/99         00
    0016619413                           01           05/01/99          0
    0016619413                           O            04/01/29
    0
 
 
    1896061          J95/J95             F          300,000.00         ZZ
                                         360        299,747.96          1
1
 
 
    2425 AGNES CIRCLE                  6.875          1,970.79         60
                                       6.625          1,970.79      500,000.00
    FULLERTON        CA   92835          1            02/17/99         00
    0013999701                           03           04/01/99          0
    0013999701                           O            03/01/29
    0
 
 
    1896068          J95/J95             F          428,000.00         ZZ
                                         360        427,640.42          1
    3365 WEST PACES FERRY COURT        6.875          2,811.66         80
                                       6.625          2,811.66      535,000.00
    ATLANTA          GA   30327          1            03/01/99         00
    0014291900                           05           04/01/99          0
    0014291900                           O            03/01/29
    0
 
 
    1896075          J95/J95             F          282,400.00         ZZ
                                         360        282,190.42          1
    21785 CONSTANCIA                   7.500          1,974.58         80
                                       7.250          1,974.58      353,000.00
    MISSION VIEJO    CA   92692          1            02/22/99         00
    0013996269                           03           04/01/99          0
    0013996269                           O            03/01/29
    0
 
 
    1896076          956/G01             F          323,500.00         ZZ
                                         360        323,253.85          1
    3041 DONA NENITA PLACE             7.375          2,234.33         60
                                       7.125          2,234.33      548,000.00
    STUDIO CITY      CA   91604          2            02/10/99         00
    0431273259                           05           04/01/99          0
    508120499                            O            03/01/29
    0
 
 
    1896090          J95/J95             F          430,500.00         ZZ
                                         360        430,138.33          1
    240 BROADLAND ROAD                 6.875          2,828.08         67
                                       6.625          2,828.08      645,000.00
    ATLANTA          GA   30342          2            02/22/99         00
    0013710330                           05           04/01/99          0
    0013710330                           O            03/01/29
    0
 
 
    1896096          J95/J95             F          420,000.00         ZZ
                                         360        419,647.14          1
    ROUTE 1 BOX 279B                   6.875          2,759.11         80
                                       6.625          2,759.11      525,000.00
    BLUEMONT         VA   20135          2            02/24/99         00
    0009690298                           05           04/01/99          0
1
 
 
    0009690298                           O            03/01/29
    0
 
 
    1896155          J95/J95             F          260,000.00         ZZ
                                         360        259,781.57          1
    14015 48TH AVE N                   6.875          1,708.01         80
                                       6.625          1,708.01      325,000.00
    PLYMOUTH         MN   55446          2            02/22/99         00
    14198253                             03           04/01/99          0
    14198253                             O            03/01/29
    0
 
 
    1896192          731/G01             F          339,600.00         ZZ
                                         360        339,600.00          1
    29527 ANTHONY ROAD                 7.000          2,259.37         80
                                       6.750          2,259.37      424,500.00
    VALLEY CENTER    CA   92082          1            03/16/99         00
    0431270438                           05           05/01/99          0
    613513881                            O            04/01/29
    0
 
 
    1896198          E82/G01             F          270,650.00         ZZ
                                         360        270,650.00          1
    4576 KEHOE ROAD                    7.500          1,892.42         72
                                       7.250          1,892.42      380,500.00
    CLINTON          MI   49236          2            03/29/99         00
    0400194627                           05           05/01/99          0
    1648396                              O            04/01/29
    0
 
 
    1896217          E82/G01             F          351,200.00         ZZ
                                         360        351,200.00          1
    7891 EAST BERNER STREET            7.250          2,395.80         80
                                       7.000          2,395.80      439,000.00
    LONG BEACH       CA   90808          2            03/22/99         00
    0400120549                           05           05/01/99          0
    0400120549                           O            04/01/29
    0
 
 
    1896329          E82/G01             F          283,400.00         ZZ
                                         360        283,400.00          1
    2500 VINE HILL ROAD                7.500          1,981.57         80
                                       7.250          1,981.57      355,000.00
    SCOTTS VALLEY    CA   95066          2            03/31/99         00
    0400193868                           05           05/01/99          0
    1597309                              O            04/01/29
    0
 
 
1
 
 
    1896344          896/G01             F          250,600.00         ZZ
                                         360        250,600.00          1
    4482 KINGS CHASE                   7.625          1,773.74         93
                                       7.375          1,773.74      272,000.00
    MARIETTA         GA   30067          2            03/29/99         11
    0431274240                           05           05/01/99         30
    15781                                O            04/01/29
    0
 
 
    1896345          893/G01             F          141,520.00         ZZ
                                         360        141,520.00          1
    5056 BAXTER STREET                 7.250            965.42         80
                                       7.000            965.42      176,900.00
    SAN DIEGO        CA   92117          1            03/25/99         00
    0431273861                           05           05/01/99          0
    99020885                             O            04/01/29
    0
 
 
    1896409          638/G01             F          320,000.00         ZZ
                                         360        320,000.00          1
    1620 ADOBE DRIVE                   7.250          2,182.96         60
                                       7.000          2,182.96      535,000.00
    PACIFICA         CA   94044          5            03/15/99         00
    0431274349                           05           05/01/99          0
    08851857                             O            04/01/29
    0
 
 
    1896413          638/G01             F          312,000.00         T
                                         360        312,000.00          1
    344 LAKE RESORT ROAD UNIT 20       7.250          2,128.39         80
                                       7.000          2,128.39      390,000.00
    LAKE ARROWHEAD   CA   92352          1            03/24/99         00
    0431274299                           01           05/01/99          0
    8861937                              O            04/01/29
    0
 
 
    1896414          638/G01             F          226,000.00         ZZ
                                         360        226,000.00          1
    13157 RUSSET LEAF LANE             6.875          1,484.66         78
                                       6.625          1,484.66      292,000.00
    SAN DIEGO        CA   92129          2            03/16/99         00
    0431274182                           05           05/01/99          0
    08854838                             O            04/01/29
    0
 
 
    1896420          638/G01             F          265,900.00         ZZ
                                         360        265,900.00          1
    1230 HAVENWOOD COURT               7.000          1,769.04         80
                                       6.750          1,769.04      332,401.00
1
 
 
    EDGEWATER        MD   21037          1            03/24/99         00
    0431274224                           05           05/01/99          0
    08766295                             O            04/01/29
    0
 
 
    1896426          808/G01             F          364,500.00         ZZ
                                         360        364,500.00          1
    21700 PHEASANT WOODS DRIVE         7.250          2,486.54         90
                                       7.000          2,486.54      405,000.00
    CASTRO VALLEY    CA   94552          2            03/08/99         01
    0431277243                           03           05/01/99         30
    9413033                              O            04/01/29
    0
 
 
    1896430          638/G01             F          264,000.00         ZZ
                                         360        264,000.00          1
    1688 NORTHWEST 118TH COURT         7.125          1,778.62         80
                                       6.875          1,778.62      330,000.00
    PORTLAND         OR   97229          5            03/16/99         00
    0431275247                           05           05/01/99          0
    8861629                              O            04/01/29
    0
 
 
    1896432          808/G01             F          186,000.00         ZZ
                                         360        186,000.00          2
    2036 AND 2040 CHATWIN AVENUE       7.250          1,268.85         48
                                       7.000          1,268.85      388,000.00
    LONG BEACH       CA   90815          2            03/17/99         00
    0431277516                           05           05/01/99          0
    9308908                              O            04/01/29
    0
 
 
    1896459          H29/G01             F          269,600.00         ZZ
                                         360        269,600.00          1
    51 PYE BROOK LANE                  6.625          1,726.28         66
                                       6.375          1,726.28      410,000.00
    BOXFORD          MA   01921          2            03/22/99         00
    0431274604                           05           05/01/99          0
    0000                                 O            04/01/29
    0
 
 
    1896485          956/G01             F          332,000.00         ZZ
                                         360        332,000.00          1
    17708 PLOVER LANE AKA #17          6.875          2,181.00         80
                                       6.625          2,181.00      415,000.00
    SUNRIVER         OR   97707          1            03/04/99         00
    0431273721                           03           05/01/99          0
    1409020447                           O            04/01/29
    0
1
 
 
 
 
    1896489          956/G01             F          286,500.00         ZZ
                                         360        286,500.00          1
    4345 FERNBROOK DRIVE               6.875          1,882.10         64
                                       6.625          1,882.10      450,000.00
    MERCER ISLAND    WA   98040          5            03/03/99         00
    0431274216                           05           05/01/99          0
    1409020213                           O            04/01/29
    0
 
 
    1896490          956/G01             F          303,000.00         ZZ
                                         360        303,000.00          1
    3 PIENZA                           7.375          2,092.75         74
                                       7.125          2,092.75      410,000.00
    IRVINE           CA   92606          2            03/18/99         00
    0431276476                           03           05/01/99          0
    1509010232                           O            04/01/29
    0
 
 
    1896491          956/G01             F          264,000.00         ZZ
                                         360        264,000.00          1
    1081 VISTA POINTE CIRCLE           7.250          1,800.95         80
                                       7.000          1,800.95      330,000.00
    SAN RAMON        CA   94583          1            03/05/99         00
    0431276492                           09           05/01/99          0
    109020579                            O            04/01/29
    0
 
 
    1896500          956/G01             F          350,000.00         ZZ
                                         360        350,000.00          1
    247 OAKDALE AVENUE                 7.375          2,417.36         50
                                       7.125          2,417.36      700,000.00
    MILL VALLEY      CA   94941          5            03/18/99         00
    0431276518                           05           05/01/99          0
    809030472                            O            04/01/29
    0
 
 
    1896502          956/G01             F          450,000.00         ZZ
                                         360        450,000.00          1
    220 EAST ENSIGN VISTA DRIVE        6.875          2,956.18         56
                                       6.625          2,956.18      815,000.00
    SALT LAKE CITY   UT   84103          5            02/24/99         00
    0431273176                           05           05/01/99          0
    709020148                            O            04/01/29
    0
 
 
    1896503          956/G01             F          308,000.00         ZZ
                                         360        308,000.00          1
1
 
 
    405 BONNIE DRIVE                   6.875          2,023.34         80
                                       6.625          2,023.34      385,000.00
    EL CERRITO       CA   94530          1            03/03/99         00
    0431275882                           05           05/01/99          0
    208120385                            O            04/01/29
    0
 
 
    1896504          E82/G01             F          294,500.00         ZZ
                                         360        294,500.00          1
    16315 INGLEWOOD PLACE              7.375          2,034.04         66
                                       7.125          2,034.04      450,000.00
    NORTHEAST KENMO  WA   98028          2            04/01/99         00
    0400190559                           03           05/01/99          0
    1765161                              O            04/01/29
    0
 
 
    1896506          956/G01             F          312,000.00         ZZ
                                         360        312,000.00          1
    1700 FARMINGTON COURT              6.875          2,049.62         73
                                       6.625          2,049.62      430,000.00
    EL DORADO HILLS  CA   95762          2            03/05/99         00
    0431276526                           05           05/01/99          0
    809020931                            O            04/01/29
    0
 
 
    1896530          420/G01             F          322,000.00         ZZ
                                         360        322,000.00          1
    2586 FIR PARK WAY                  6.875          2,115.32         70
                                       6.625          2,115.32      462,000.00
    SANTA ROSA       CA   95404          5            03/17/99         00
    0431274588                           05           05/01/99          0
    0000409888                           O            04/01/29
    0
 
 
    1896532          665/G01             F          142,000.00         ZZ
                                         360        142,000.00          1
    1222 HARCOURT AVENUE               6.750            921.01         67
                                       6.500            921.01      215,000.00
    SEASIDE          CA   93955          2            03/23/99         00
    0431274927                           05           05/01/99          0
    9901228855                           O            04/01/29
    0
 
 
    1896559          356/G01             F          328,000.00         ZZ
                                         360        328,000.00          1
    25 KOOTENAI COURT                  7.500          2,293.43         51
                                       7.250          2,293.43      655,000.00
    FREMONT          CA   94539          2            03/10/99         00
    0431276203                           05           05/01/99          0
1
 
 
    2710267                              O            04/01/29
    0
 
 
    1896609          685/G01             F          183,200.00         ZZ
                                         360        183,200.00          1
    6414 GOODWIN STREET                7.500          1,280.97         80
                                       7.250          1,280.97      229,000.00
    SAN DIEGO        CA   92111          1            03/25/99         00
    0431275825                           05           05/01/99          0
    118031                               O            04/01/29
    0
 
 
    1896618          964/G01             F          332,000.00         ZZ
                                         360        332,000.00          1
    36 ELDA DRIVE                      7.125          2,236.75         80
                                       6.875          2,236.75      415,000.00
    SAN RAFAEL       CA   94903          1            03/23/99         00
    0431275809                           05           05/01/99          0
    53100                                O            04/01/29
    0
 
 
    1896629          E45/G01             F          288,000.00         ZZ
                                         360        288,000.00          1
    235 GOLFVIEW CLUB DRIVE            7.250          1,964.67         80
                                       7.000          1,964.67      360,000.00
    NEWNAN           GA   30263          1            03/25/99         00
    0431276187                           05           05/01/99          0
    49714                                O            04/01/29
    0
 
 
    1896637          B60/G01             F          412,000.00         ZZ
                                         360        412,000.00          1
    1043 FISKE STREET                  7.125          2,775.72         80
                                       6.875          2,775.72      515,000.00
    PACIFIC PALISAD  CA   90272          1            03/11/99         00
    0431275676                           05           05/01/99          0
    266118                               O            04/01/29
    0
 
 
    1896650          964/G01             F          250,800.00         ZZ
                                         360        250,800.00          1
    3622 MYRTLE AVENUE                 7.500          1,753.63         95
                                       7.250          1,753.63      264,000.00
    LONG BEACH       CA   90807          1            03/17/99         19
    0431275791                           05           05/01/99         30
    53688                                O            04/01/29
    0
 
 
1
 
 
    1896655          964/G01             F          112,000.00         ZZ
                                         360        112,000.00          1
    223 WEDGEWOOD COURT                7.125            754.56         80
                                       6.875            754.56      140,000.00
    VALLEJO          CA   94591          2            03/11/99         00
    0431275817                           05           05/01/99          0
    52868                                O            04/01/29
    0
 
 
    1896656          964/G01             F          319,200.00         ZZ
                                         360        319,200.00          1
    5116 FAIRVIEW CIRCLE               7.125          2,150.51         80
                                       6.875          2,150.51      399,000.00
    BUENA PARK       CA   90621          1            03/19/99         00
    0431274620                           05           05/01/99          0
    52722                                O            04/01/29
    0
 
 
    1896686          A50/A50             F          403,000.00         ZZ
                                         360        403,000.00          1
    1060 BROOKVIEW WAY                 6.875          2,647.42         80
                                       6.625          2,647.42      507,000.00
    ATHENS           GA   30606          2            03/05/99         00
    120890                               05           05/01/99          0
    120890                               O            04/01/29
    0
 
 
    1896711          944/G01             F          280,000.00         ZZ
                                         360        280,000.00          1
    324 PROSPECT HEIGHTS               7.125          1,886.41         80
                                       6.875          1,886.41      350,000.00
    SANTA CRUZ       CA   95065          1            03/24/99         00
    0431275734                           05           05/01/99          0
    17309                                O            04/01/29
    0
 
 
    1896766          B75/G01             F          363,750.00         ZZ
                                         360        363,750.00          1
    12 DOLORES WAY                     7.250          2,481.42         75
                                       7.000          2,481.42      490,000.00
    ORINDA           CA   94563          2            03/05/99         00
    0431274596                           05           05/01/99          0
    6386338                              O            04/01/29
    0
 
 
    1896806          B57/G01             F          300,000.00         ZZ
                                         360        300,000.00          1
    6389 LONGCROFT DRIVE               7.000          1,995.91         67
                                       6.750          1,995.91      450,000.00
1
 
 
    OAKLAND          CA   94611          1            03/17/99         00
    0431274653                           05           05/01/99          0
    9910337                              O            04/01/29
    0
 
 
    1896834          964/G01             F          194,000.00         ZZ
                                         360        194,000.00          1
    8506 MIAMI AVENUE                  7.500          1,356.48         80
                                       7.250          1,356.48      242,500.00
    WESTMINSTER      CA   92683          1            03/22/99         00
    0431276963                           03           05/01/99          0
    53499                                O            04/01/29
    0
 
 
    1896841          638/G01             F          271,200.00         ZZ
                                         360        271,200.00          1
    2185 EAST CHAPARRAL OAK CIRCLE     7.125          1,827.12         80
                                       6.875          1,827.12      339,000.00
    SALT LAKE CITY   UT   84121          1            03/30/99         00
    0431276336                           05           05/01/99          0
    8866932                              O            04/01/29
    0
 
 
    1896855          638/G01             F          350,000.00         ZZ
                                         360        350,000.00          1
    2574 MONTECITO AVENUE              6.500          2,212.24         55
                                       6.250          2,212.24      641,800.00
    THOUSNAND OAKS   CA   91362          1            03/03/99         00
    0431277169                           05           05/01/99          0
    08843892                             O            04/01/29
    0
 
 
    1896873          638/G01             F          189,600.00         ZZ
                                         360        189,600.00          1
    28556 CANO                         7.375          1,309.52         80
                                       7.125          1,309.52      237,000.00
    MISSION VIEJO    CA   92692          1            03/18/99         00
    0431278399                           03           05/01/99          0
    08865836                             O            04/01/29
    0
 
 
    1896877          638/G01             F          190,000.00         ZZ
                                         360        190,000.00          1
    187 SIMPSON DRIVE                  7.375          1,312.28         55
                                       7.125          1,312.28      350,000.00
    DALY CITY        CA   94015          5            03/15/99         00
    0431277235                           05           05/01/99          0
    08861816                             O            04/01/29
    0
1
 
 
 
 
    1896887          E82/G01             F          334,800.00         ZZ
                                         360        334,800.00          1
    11739 MILLROCK                     7.250          2,283.93         77
                                       7.000          2,283.93      440,000.00
    SAN ANTONIO      TX   78230          2            03/31/99         00
    0400193352                           03           05/01/99          0
    1534163                              O            04/01/29
    0
 
 
    1896892          638/G01             F          256,000.00         ZZ
                                         360        256,000.00          1
    104 LAKEVIEW DRIVE                 7.125          1,724.72         80
                                       6.875          1,724.72      320,000.00
    STANSBURY PARK   UT   84074          5            03/25/99         00
    0431276310                           05           05/01/99          0
    8871379                              O            04/01/29
    0
 
 
    1896917          A50/A50             F          275,000.00         ZZ
                                         360        274,785.48          1
    298 TWO POINT TRAIL                7.250          1,875.98         87
                                       7.000          1,875.98      319,000.00
    THOMASVILLE      GA   31757          2            03/05/99         04
    120212                               05           04/01/99         25
    120212                               O            03/01/29
    0
 
 
    1896920          A50/A50             F          400,000.00         ZZ
                                         360        400,000.00          1
    3529 COUNTRY CLUB ROAD             7.000          2,661.21         80
                                       6.750          2,661.21      500,000.00
    VALDOSTA         GA   31602          1            03/17/99         00
    120933                               05           05/01/99          0
    120933                               O            04/01/29
    0
 
 
    1896929          411/411             F          312,000.00         ZZ
                                         360        312,000.00          1
    5 SHORT HILL ROAD                  7.250          2,128.39         80
                                       7.000          2,128.39      390,000.00
    LINCOLN          MA   01773          1            03/26/99         00
    20015540                             05           05/01/99          0
    20015540                             O            04/01/29
    0
 
 
    1896976          E87/G01             F          262,500.00         ZZ
                                         360        262,500.00          1
1
 
 
    2920 PUESTA DEL SOL                7.500          1,835.44         75
                                       7.250          1,835.44      350,000.00
    SANTA ABARBARA   CA   93105          5            03/15/99         00
    0431276906                           05           05/01/99          0
    70002236                             O            04/01/29
    0
 
 
    1897081          E45/G01             F          274,800.00         ZZ
                                         360        274,800.00          1
    1620 NATCHEZ WAY                   7.125          1,851.38         80
                                       6.875          1,851.38      347,000.00
    GRAYSON          GA   30017          2            03/19/99         00
    0431277086                           03           05/01/99          0
    50106                                O            04/01/29
    0
 
 
    1897099          F26/G01             F          300,000.00         ZZ
                                         360        300,000.00          1
    9508 NORTHEAST 180TH STREET        6.625          1,920.93         75
                                       6.375          1,920.93      400,000.00
    BOTHELL          WA   98011          1            03/23/99         00
    0431276922                           05           05/01/99          0
    7142606601                           O            04/01/29
    0
 
 
    1897111          F26/G01             F          269,300.00         ZZ
                                         360        269,300.00          1
    13014 63RD DRIVE SOUTHEAST         7.250          1,837.10         95
                                       7.000          1,837.10      283,490.00
    SNOHOMISH        WA   98296          1            03/26/99         14
    0431276542                           03           05/01/99         30
    7142609804                           O            04/01/29
    0
 
 
    1897114          624/G01             F          200,000.00         ZZ
                                         360        200,000.00          1
    4220 RODEO LANE NORTHEAST          7.000          1,330.60         44
                                       6.750          1,330.60      461,000.00
    BAINBRIDGE ISLA  WA   98110          1            03/25/99         00
    0431279249                           05           05/01/99          0
    33400190643                          O            04/01/29
    0
 
 
    1897124          638/G01             F          250,000.00         ZZ
                                         360        250,000.00          1
    24003 TELEGRAPH HILL COURT         7.250          1,705.44         88
                                       7.000          1,705.44      285,000.00
    VALENCIA AREA    CA   91355          2            03/16/99         04
    0431277474                           03           05/01/99         25
1
 
 
    8861318                              O            04/01/29
    0
 
 
    1897214          111/111             F          388,000.00         ZZ
                                         360        388,000.00          1
    365 EAST 22ND STREET               7.500          2,712.95         75
                                       7.250          2,712.95      520,000.00
    COSTA MESA       CA   92627          2            03/10/99         00
    684000829129                         05           05/01/99          0
    684000829129                         O            04/01/29
    0
 
 
    1897340          964/G01             F          166,400.00         ZZ
                                         360        166,400.00          1
    21010 WARDHAM AVENUE               7.500          1,163.49         80
                                       7.250          1,163.49      208,000.00
    LAKEWOOD         CA   90715          2            03/17/99         00
    0431278001                           05           05/01/99          0
    53384                                O            04/01/29
    0
 
 
    1897418          356/G01             F          650,000.00         ZZ
                                         360        650,000.00          1
    44751 AGUILA TERRACE               7.250          4,434.15         46
                                       7.000          4,434.15    1,430,000.00
    FREMONT          CA   94539          2            03/12/99         00
    0431278407                           03           05/01/99          0
    2719284                              O            04/01/29
    0
 
 
    1897537          E87/G01             F          304,000.00         ZZ
                                         360        304,000.00          1
    479 LOS FELIZ DRIVE                7.250          2,073.82         80
                                       7.000          2,073.82      380,000.00
    SANTA BARBARA    CA   93110          2            03/15/99         00
    0431278464                           05           05/01/99          0
    184852                               O            04/01/29
    0
 
 
    1897562          765/G01             F          417,500.00         ZZ
                                         360        417,500.00          1
    1307 CASSINS STREET                7.250          2,848.09         70
                                       7.000          2,848.09      600,000.00
    CARLSBAD         CA   92009          2            03/24/99         00
    0431277987                           03           05/01/99          0
    145093                               O            04/01/29
    0
 
 
1
 
 
    1897565          765/G01             F          286,400.00         ZZ
                                         360        286,400.00          1
    4729 NATALIE DRIVE                 7.500          2,002.56         80
                                       7.250          2,002.56      358,000.00
    SAN DIEGO        CA   92115          1            03/24/99         00
    0431278035                           05           05/01/99          0
    145089                               O            04/01/29
    0
 
 
    1897566          765/G01             F          227,950.00         ZZ
                                         360        227,950.00          1
    197 N CENTRAL AVENUE               7.250          1,555.03         80
                                       7.000          1,555.03      284,950.00
    CAMPBELL         CA   95008          1            03/22/99         00
    0431277946                           01           05/01/99          0
    181046                               O            04/01/29
    0
 
 
    1898444          A39/G01             F          354,600.00         ZZ
                                         360        354,600.00          1
    22733 MIRANDA STREET               7.500          2,479.41         90
                                       7.250          2,479.41      394,000.00
    WOODLAND HILLS   CA   91367          2            03/25/99         14
    0431282219                           05           05/01/99         25
    9900024                              O            04/01/29
    0
 
 
    1899141          420/G01             F          181,500.00         ZZ
                                         360        181,500.00          1
    470 CHINQUAPIN AVENUE              7.375          1,253.58         75
                                       7.125          1,253.58      242,000.00
    CARLSBAD         CA   92008          1            03/25/99         00
    0431280502                           05           05/01/99          0
    0000410753                           O            04/01/29
    0
 
 
    2745939          K08/G01             F          460,000.00         ZZ
                                         360        459,613.55          1
    98-842 LEIHULU PLACE               6.875          3,021.87         80
                                       6.625          3,021.87      575,000.00
    AIEA             HI   96701          2            02/08/99         00
    0411261407                           03           04/01/99          0
    0411261407                           O            03/01/29
    0
 
 
    2745943          K08/G01             F          280,000.00         ZZ
                                         360        279,764.77          1
    24808  WOODFIELD SCHOOL R          6.875          1,839.40         80
                                       6.625          1,839.40      350,000.00
1
 
 
    DAMASCUS         MD   20882          2            02/12/99         00
    0411293228                           03           04/01/99          0
    0411293228                           O            03/01/29
    0
 
 
    2748057          K08/G01             F          164,650.00         ZZ
                                         360        164,524.71          1
    9545 WEBSTER WAY                   7.375          1,137.20         78
                                       7.125          1,137.20      212,000.00
    BROOMFIELD       CO   80021          2            02/17/99         00
    0411268477                           05           04/01/99          0
    0411268477                           O            03/01/29
    0
 
 
    2748065          K08/G01             F          173,000.00         ZZ
                                         360        173,000.00          1
    17050 MOTSENBOCKER WAY             7.125          1,165.53         72
                                       6.875          1,165.53      243,000.00
    PARKER           CO   80134          2            02/17/99         00
    0411284987                           03           05/01/99          0
    0411284987                           O            04/01/29
    0
 
 
    2748087          K08/G01             F          207,000.00         ZZ
                                         360        206,826.10          1
    1744 ALDER WOOD PLACE              6.875          1,359.84         75
                                       6.625          1,359.84      276,000.00
    THOUSAND OAKS    CA   91362          1            02/16/99         00
    0411283690                           03           04/01/99          0
    0411283690                           O            03/01/29
    0
 
 
    2748089          K08/G01             F           90,000.00         ZZ
                                         360         89,933.21          1
    2825 NORTH 175 EAST                7.500            629.29         38
                                       7.250            629.29      238,000.00
    PROVO            UT   84604          5            02/16/99         00
    0411295637                           05           04/01/99          0
    0411295637                           O            03/01/29
    0
 
 
    2748118          K08/G01             F          330,000.00         ZZ
                                         360        329,163.50          1
    5651 EAST CRESTLINE AVENU          6.875          2,167.87         68
                                       6.625          2,167.87      490,000.00
    ENGLEWOOD        CO   80111          5            12/04/98         00
    0411156821                           05           02/01/99          0
    0411156821                           O            01/01/29
    0
1
 
 
 
 
    2748663          K08/G01             F          180,000.00         ZZ
                                         360        179,866.41          1
    906 BOARDWALK COURT                7.500          1,258.59         40
                                       7.250          1,258.59      453,000.00
    PALATINE         IL   60067          5            02/18/99         00
    0411249303                           05           04/01/99          0
    0411249303                           O            03/01/29
    0
 
 
    2748680          K08/G01             F           72,000.00         ZZ
                                         360         71,946.57          1
    2110 RICHMOND DRIVE                7.500            503.43         69
                                       7.250            503.43      105,000.00
    RICHMOND         TX   77469          5            02/17/99         00
    0411272594                           03           04/01/99          0
    0411272594                           O            03/01/29
    0
 
 
    2749227          K08/G01             F          243,600.00         ZZ
                                         360        243,405.20          1
    10570 EAST DESERT COVE AVENUE      7.125          1,641.18         60
                                       6.875          1,641.18      409,000.00
    SCOTTSDALE       AZ   85259          2            02/19/99         00
    0411272172                           05           04/01/99          0
    0411272172                           O            03/01/29
    0
 
 
    2749228          K08/G01             F          280,000.00         ZZ
                                         360        279,764.77          1
    2305 GOLD MINE ROAD                6.875          1,839.40         60
                                       6.625          1,839.40      470,000.00
    BROOKEVILLE      MD   20833          2            02/19/99         00
    0411277395                           05           04/01/99          0
    0411277395                           O            03/01/29
    0
 
 
    2749983          387/G01             F          300,000.00         ZZ
                                         360        299,747.96          1
    16817 HALLMARK COURT               6.875          1,970.79         75
                                       6.625          1,970.79      400,000.00
    CASTRO VALLEY    CA   94552          2            02/04/99         00
    0431236959                           03           04/01/99          0
    0001628650                           O            03/01/29
    0
 
 
    2750899          623/623             F          302,800.00         ZZ
                                         360        301,246.08          1
1
 
 
    2 WHITE TERRACE                    6.625          1,938.86         80
                                       6.375          1,938.86      378,500.00
    LEXINGTON        MA   02173          1            10/29/98         00
    1167575                              05           12/01/98          0
    1167575                              O            11/01/28
    0
 
 
    2751924          K08/G01             F          352,000.00         ZZ
                                         360        351,718.51          1
    5757 SOUTH IVANHOE STREET          7.125          2,371.49         72
                                       6.875          2,371.49      495,000.00
    ENGLEWOOD        CO   80111          2            02/24/99         00
    0411275910                           05           04/01/99          0
    0411275910                           O            03/01/29
    0
 
 
    2751925          K08/G01             F           80,550.00         ZZ
                                         360         80,485.59          1
    2130 ORIOLE DRIVE                  7.125            542.68         69
                                       6.875            542.68      117,000.00
    MISSOULA         MT   59802          2            02/24/99         00
    0411305014                           03           04/01/99          0
    0411305014                           O            03/01/29
    0
 
 
    2751961          K08/G01             F          140,000.00         ZZ
                                         360        139,888.04          1
    8674 GATEWICK DRIVE                7.125            943.21         56
                                       6.875            943.21      251,000.00
    COLORADO SPRING  CO   80920          5            02/22/99         00
    0411273790                           05           04/01/99          0
    0411273790                           O            03/01/29
    0
 
 
    2752032          K08/G01             F          204,000.00         ZZ
                                         360        203,836.86          1
    40269 EAST ARIZONA AVENUE          7.125          1,374.39         80
                                       6.875          1,374.39      256,000.00
    BENNETT          CO   80102          2            02/22/99         00
    0411179476                           05           04/01/99          0
    0411179476                           O            03/01/29
    0
 
 
    2754125          696/G01             F          350,000.00         ZZ
                                         360        350,000.00          1
    808 OLDE GEORGETOWN COURT          7.250          2,387.62         45
                                       7.000          2,387.62      790,000.00
    GREAT FALLS      VA   22066          4            03/05/99         00
    0431237379                           05           05/01/99          0
1
 
 
    10099005                             O            04/01/29
    0
 
 
    2755426          K08/G01             F           95,500.00         ZZ
                                         360         95,406.55          1
    31 FOX STREET                      7.250            651.48         74
                                       7.000            651.48      130,000.00
    DENVER           CO   80223          2            03/01/99         00
    0411288913                           05           04/01/99          0
    0411288913                           O            03/01/29
    0
 
 
    2756028          K08/G01             F          480,000.00         ZZ
                                         360        480,000.00          1
    110 N. DEE RD.                     7.500          3,356.23         70
                                       7.250          3,356.23      686,000.00
    PARKRIDGE        IL   60068          2            03/03/99         00
    0411289184                           05           05/01/99          0
    0411289184                           O            04/01/29
    0
 
 
    2756030          K08/G01             F           83,250.00         ZZ
                                         360         83,250.00          1
    215 S.W. 3RD STREET                7.625            589.24         75
                                       7.375            589.24      111,000.00
    CEDAREDGE        CO   81413          5            03/02/99         00
    0411292915                           05           05/01/99          0
    0411292915                           O            04/01/29
    0
 
 
    2756038          K08/G01             F           79,800.00         ZZ
                                         360         79,800.00          1
    2114 GREY RIDGE ROAD               7.625            564.82         95
                                       7.375            564.82       84,000.00
    MARYVILLE        TN   37801          2            03/02/99         14
    0411310899                           05           05/01/99         30
    0411310899                           O            04/01/29
    0
 
 
    2756070          K08/G01             F          115,500.00         ZZ
                                         360        115,500.00          1
    245 SPINDRIFT COURT                7.250            787.91         70
                                       7.000            787.91      165,000.00
    OAKLEY           CA   94561          2            02/25/99         00
    0411278591                           05           05/01/99          0
    0411278591                           O            04/01/29
    0
 
 
1
 
 
    2756364          696/G01             F          312,000.00         ZZ
                                         360        311,711.03          1
    3812 26TH STREET NORTH             6.375          1,946.47         80
                                       6.125          1,946.47      390,000.00
    ARLINGTON        VA   22207          1            03/08/99         00
    0431242759                           05           04/01/99          0
    21399010                             O            03/01/29
    0
 
 
    2756837          K08/G01             F          209,200.00         ZZ
                                         360        209,200.00          1
    2085 ROCKBOUND COURT               7.250          1,427.11         80
                                       7.000          1,427.11      261,500.00
    COOL             CA   95614          2            03/01/99         00
    0411269194                           03           05/01/99          0
    0411269194                           O            04/01/29
    0
 
 
    2756840          K08/G01             F          185,250.00         ZZ
                                         360        185,250.00          1
    3139 SHADY GROVE LANE              7.500          1,295.29         95
                                       7.250          1,295.29      195,000.00
    MATTHEWS         NC   28104          1            03/09/99         11
    0411330152                           05           05/01/99         30
    0411330152                           O            04/01/29
    0
 
 
    2756845          K08/G01             F          130,000.00         ZZ
                                         360        130,000.00          1
    29552 SIERRA POINT CIRCLE          7.375            897.88         68
    UNIT # 10                          7.125            897.88      192,000.00
    FARMINGTON HILL  MI   48331          2            03/04/99         00
    0411281462                           01           05/01/99          0
    0411281462                           O            04/01/29
    0
 
 
    2756850          K08/G01             F          367,500.00         ZZ
                                         360        367,500.00          1
    1820 BALDWIN FARMS DRIVE           7.000          2,444.99         75
                                       6.750          2,444.99      490,000.00
    MARIETTA         GA   30068          2            03/04/99         00
    0411310139                           03           05/01/99          0
    0411310139                           O            04/01/29
    0
 
 
    2756863          K08/G01             F          108,000.00         ZZ
                                         360        108,000.00          1
    215 SOUTHWEST MEADOW DRIVE         7.500            755.15         70
                                       7.250            755.15      154,400.00
1
 
 
    BEAVERTON        OR   97006          1            03/03/99         00
    0411319817                           05           05/01/99          0
    0411319817                           O            04/01/29
    0
 
 
    2756867          K08/G01             F          170,750.00         ZZ
                                         360        170,750.00          1
    7709 CAMBERFORD PLACE              7.250          1,164.82         70
                                       7.000          1,164.82      244,000.00
    DERWOOD          MD   20855          2            03/04/99         00
    0411302268                           05           05/01/99          0
    0411302268                           O            04/01/29
    0
 
 
    2758172          K08/G01             F           43,500.00         ZZ
                                         360         43,500.00          1
    1717 NEIL ROAD                     7.250            296.75         77
                                       7.000            296.75       56,500.00
    BIRMINGHAM       AL   35214          2            03/05/99         00
    0411303035                           05           05/01/99          0
    0411303035                           O            04/01/29
    0
 
 
    2758189          K08/G01             F          360,000.00         ZZ
                                         360        360,000.00          1
    4603 CHEROKEE TRAIL                7.250          2,455.83         78
                                       7.000          2,455.83      462,500.00
    DALLAS           TX   75209          2            03/02/99         00
    0411241904                           05           05/01/99          0
    0411241904                           O            04/01/29
    0
 
 
    2758200          K08/G01             F          128,000.00         ZZ
                                         360        128,000.00          1
    140 WASHINGTON STREET              7.625            905.98         80
                                       7.375            905.98      162,000.00
    WARRENTON        VA   20186          2            03/05/99         00
    0411315559                           05           05/01/99          0
    0411315559                           O            04/01/29
    0
 
 
    2758209          K08/G01             F          224,000.00         ZZ
                                         360        224,000.00          1
    4205 COLONIAL AVENUE               7.625          1,585.46         80
                                       7.375          1,585.46      280,000.00
    ALEXANDRIA       VA   22309          2            03/05/99         00
    0411270747                           05           05/01/99          0
    0411270747                           O            04/01/29
    0
1
 
 
 
 
    2758781          K08/G01             F          169,750.00         ZZ
                                         360        169,750.00          1
    21946 DUPONT STREET                7.875          1,230.81         70
    (CHATSWORTH)                       7.625          1,230.81      242,500.00
    LOS ANGELES      CA   91311          1            03/08/99         00
    0411318843                           05           05/01/99          0
    0411318843                           O            04/01/29
    0
 
 
    2760522          K08/G01             F          214,000.00         ZZ
                                         360        214,000.00          1
    231 PASEO DE GRANADA               7.500          1,496.32         54
                                       7.250          1,496.32      400,000.00
    REDONDO BEACH    CA   90277          5            03/02/99         00
    0411302763                           05           05/01/99          0
    0411302763                           O            04/01/29
    0
 
 
    2760531          K08/G01             F          392,000.00         ZZ
                                         360        392,000.00          1
    2802 SAN ARDO WAY                  7.500          2,740.92         80
                                       7.250          2,740.92      490,000.00
    BELMONT          CA   94002          2            03/05/99         00
    0411284458                           05           05/01/99          0
    0411284458                           O            04/01/29
    0
 
 
    2760555          K08/G01             F           85,000.00         ZZ
                                         360         85,000.00          1
    961 NEVILLE STREET                 7.625            601.62         61
                                       7.375            601.62      140,000.00
    TOMS RIVER       NJ   08753          5            03/08/99         00
    0411303605                           05           05/01/99          0
    0411303605                           O            04/01/29
    0
 
 
    2760610          696/G01             F          320,000.00         ZZ
                                         360        320,000.00          1
    2004 ADAMS HILL ROAD               6.750          2,075.51         80
                                       6.500          2,075.51      400,000.00
    VIENNA           VA   22182          1            03/15/99         00
    0431249184                           05           05/01/99          0
    23399013                             O            04/01/29
    0
 
 
    2760611          696/G01             F          295,200.00         ZZ
                                         360        295,200.00          1
1
 
 
    3932 MCKINLEY STREET, NW           7.000          1,963.97         80
                                       6.750          1,963.97      369,000.00
    WASHINGTON       DC   20015          1            03/12/99         00
    0431249382                           05           05/01/99          0
    32699010                             O            04/01/29
    0
 
 
    2760612          696/G01             F          337,500.00         ZZ
                                         360        337,500.00          1
    19978 TELEGRAPH SPRINGS ROAD       6.500          2,133.23         70
                                       6.250          2,133.23      485,000.00
    PURCELLVILLE     VA   20132          1            03/12/99         00
    0431249101                           05           05/01/99          0
    21499005                             O            04/01/29
    0
 
 
    2761260          K08/G01             F          128,100.00         ZZ
                                         360        128,004.94          1
    23245 TULANE AVENUE                7.500            895.69         70
                                       7.250            895.69      183,000.00
    FARMINGTON       MI   48336          5            02/26/99         00
    0411308851                           05           04/01/99          0
    0411308851                           O            03/01/29
    0
 
 
    2761263          K08/G01             F          135,000.00         ZZ
                                         360        134,892.04          1
    1818 NEWTON STREET NE              7.125            909.52         90
                                       6.875            909.52      150,000.00
    WASHINGTON       DC   20018          2            02/26/99         11
    0411315419                           07           04/01/99         25
    0411315419                           O            03/01/29
    0
 
 
    2761272          K08/G01             F          296,000.00         ZZ
                                         360        295,763.29          1
    1645 SALISBURY DRIVE               7.125          1,994.21         80
                                       6.875          1,994.21      370,000.00
    SAN JOSE         CA   95124          2            02/25/99         00
    0411253834                           05           04/01/99          0
    0411253834                           O            03/01/29
    0
 
 
    2761285          K08/G01             F          330,000.00         ZZ
                                         360        329,722.76          1
    6311 BEACHWAY DRIVE                6.875          2,167.87         60
                                       6.625          2,167.87      550,000.00
    FALLS CHURCH     VA   22044          2            02/26/99         00
    0411315229                           05           04/01/99          0
1
 
 
    0411315229                           O            03/01/29
    0
 
 
    2761288          K08/G01             F          357,000.00         ZZ
                                         360        356,748.03          2
    4515 A 18TH STREET                 7.750          2,557.59         65
    UNIT # A                           7.500          2,557.59      550,000.00
    SAN FRANCISCO    CA   94114          2            02/21/99         00
    0411278682                           05           04/01/99          0
    0411278682                           O            03/01/29
    0
 
 
    2761294          K08/G01             F          238,000.00         ZZ
                                         360        237,755.96          1
    8906 WEST 9TH AVENUE               7.000          1,583.42         70
                                       6.750          1,583.42      340,000.00
    LONGMONT         CO   80503          2            02/26/99         00
    0411289135                           05           04/01/99          0
    0411289135                           O            03/01/29
    0
 
 
    2761296          K08/G01             F          196,000.00         ZZ
                                         360        195,847.10          1
    23 JENNINGS COURT                  7.250          1,337.07         80
                                       7.000          1,337.07      245,000.00
    SAN FRANCISCO    CA   94124          2            02/19/99         00
    0411250236                           01           04/01/99          0
    0411250236                           O            03/01/29
    0
 
 
    2761328          K08/G01             F          270,400.00         ZZ
                                         360        270,199.32          1
    507 ISABEL DRIVE                   7.500          1,890.68         80
                                       7.250          1,890.68      338,000.00
    MARTINEZ         CA   94553          2            02/22/99         00
    0411307853                           05           04/01/99          0
    0411307853                           O            03/01/29
    0
 
 
    2761388          K08/G01             F          228,000.00         ZZ
                                         360        228,000.00          1
    23917 ROCKFORD                     7.500          1,594.21         95
                                       7.250          1,594.21      242,000.00
    DEARBORN         MI   48124          2            03/09/99         04
    0411276801                           05           05/01/99         30
    0411276801                           O            04/01/29
    0
 
 
1
 
 
    2761403          K08/G01             F           88,000.00         ZZ
                                         360         88,000.00          1
    471 WHITE OAK DRIVE                7.250            600.32         65
                                       7.000            600.32      136,000.00
    MARRIETTA        GA   30060          2            03/09/99         00
    0411310238                           05           05/01/99          0
    0411310238                           O            04/01/29
    0
 
 
    2761405          K08/G01             F          295,200.00         ZZ
                                         360        295,200.00          1
    5162 CORDOY LANE                   7.250          2,013.78         80
                                       7.000          2,013.78      369,950.00
    SAN JOSE         CA   95124          1            03/02/99         00
    0411304876                           05           05/01/99          0
    0411304876                           O            04/01/29
    0
 
 
    2761462          K08/G01             F          283,950.00         ZZ
                                         360        283,950.00          1
    43120 FLING COURT                  7.500          1,985.42         80
                                       7.250          1,985.42      355,000.00
    ASHBURN          VA   20148          2            03/10/99         00
    0411275704                           03           05/01/99          0
    0411275704                           O            04/01/29
    0
 
 
    2761635          976/976             F          440,000.00         ZZ
                                         360        439,294.17          1
    101 HOMESTEAD AVENUE               7.125          2,964.37         51
                                       6.875          2,964.37      865,000.00
    METAIRIE         LA   70005          5            01/26/99         00
    7512987                              05           03/01/99          0
    7512987                              O            02/01/29
    0
 
 
    2761637          976/976             F          315,000.00         ZZ
                                         360        311,368.83          1
    1757 COUNTRY VISTAS LANE           7.250          2,148.86         66
                                       7.000          2,148.86      480,000.00
    BONITA           CA   91902          2            03/13/98         00
    5190285                              05           05/01/98          0
    5190285                              O            04/01/28
    0
 
 
    2761638          976/976             F           75,000.00         ZZ
                                         360         74,941.49          1
    615 VERMONT AVENUE                 7.250            511.64         60
                                       7.000            511.64      125,000.00
1
 
 
    PITTSBURGH       PA   15234          5            02/19/99         00
    5634669                              05           04/01/99          0
    5634669                              O            03/01/29
    0
 
 
    2761641          976/976             F          368,000.00         ZZ
                                         360        367,690.83          1
    3320 CAMINO CORONADO               6.875          2,417.50         80
                                       6.625          2,417.50      460,000.00
    CARLSBAD         CA   92009          1            02/18/99         00
    5386684                              03           04/01/99          0
    5386684                              O            03/01/29
    0
 
 
    2761642          976/976             F          460,000.00         ZZ
                                         360        457,277.00          1
    1425 EMMONS CANYON DRIVE           7.875          3,335.32         60
                                       7.625          3,335.32      769,000.00
    ALAMO            CA   94507          5            07/14/98         00
    5346724                              03           09/01/98          0
    5346724                              O            08/01/28
    0
 
 
    2761643          976/976             F          436,000.00         ZZ
                                         360        435,283.14          1
    13 CALLE DE PRINCESA               7.000          2,900.72         80
                                       6.750          2,900.72      545,000.00
    COTO DE CAZA     CA   92679          1            01/28/99         00
    5606751                              03           03/01/99          0
    5606751                              O            02/01/29
    0
 
 
    2761646          976/976             F          490,000.00         ZZ
                                         360        489,578.11          1
    5006 COUNTRY CLUB BLVD             6.750          3,178.14         70
                                       6.500          3,178.14      700,000.00
    LITTLE ROCK      AR   72207          5            02/12/99         00
    7515971                              05           04/01/99          0
    7515971                              O            03/01/29
    0
 
 
    2761647          976/976             F          308,500.00         ZZ
                                         360        308,082.08          1
    150 VENADO WAY                     8.125          2,290.61         90
                                       7.875          2,290.61      345,000.00
    SAN JOSE         CA   95123          2            01/25/99         10
    5576392                              05           03/01/99         25
    5576392                              O            02/01/29
    0
1
 
 
 
 
    2761648          976/976             F          337,000.00         ZZ
                                         360        336,756.08          1
    32312 CONQUEROR DRIVE              7.625          2,385.27         75
                                       7.375          2,385.27      450,000.00
    RANCHO PALOS VE  CA   90275          2            02/19/99         00
    5599855                              05           04/01/99          0
    5599855                              O            03/01/29
    0
 
 
    2761650          976/976             F          307,100.00         ZZ
                                         360        306,569.69          1
    217 WEST LIVINGSTON PLACE          6.750          1,991.85         67
                                       6.500          1,991.85      465,000.00
    METAIRIE         LA   70005          5            01/22/99         00
    7513856                              05           03/01/99          0
    7513856                              O            02/01/29
    0
 
 
    2761651          976/976             F          288,000.00         ZZ
                                         360        287,769.69          1
    12021 SOUTH NICKLAUS ROAD          7.125          1,940.31         90
                                       6.875          1,940.31      321,000.00
    SANDY            UT   84092          1            02/19/99         21
    5290963                              05           04/01/99         25
    5290963                              O            03/01/29
    0
 
 
    2761654          976/976             F          340,000.00         ZZ
                                         360        339,728.10          1
    14314 BONNEY BRIER DRIVE           7.125          2,290.65         72
                                       6.875          2,290.65      475,000.00
    HOUSTON          TX   77069          1            02/02/99         00
    5475344                              03           04/01/99          0
    5475344                              O            03/01/29
    0
 
 
    2761655          976/976             F          244,500.00         ZZ
                                         360        244,294.58          1
    3971 JACOBS WAY                    6.875          1,606.19         75
                                       6.625          1,606.19      326,000.00
    LAKE CHARLES     LA   70605          5            01/28/99         00
    7504106                              05           04/01/99          0
    7504106                              O            03/01/29
    0
 
 
    2761656          976/976             F          368,000.00         ZZ
                                         360        367,712.92          1
1
 
 
    801 LAKE CREEK DRIVE               7.250          2,510.41         79
                                       7.000          2,510.41      470,000.00
    MCKINNEY         TX   75070          2            02/23/99         00
    5610404                              03           04/01/99          0
    5610404                              O            03/01/29
    0
 
 
    2761658          976/976             F          600,000.00         ZZ
                                         360        599,508.18          1
    1201 LAMMY PLACE                   7.000          3,991.82         49
                                       6.750          3,991.82    1,225,000.00
    LOS ALTOS        CA   94024          2            02/10/99         00
    5562582                              05           04/01/99          0
    5562582                              O            03/01/29
    0
 
 
    2761659          976/976             F          364,000.00         ZZ
                                         360        363,708.91          1
    542 WEST STREET                    7.125          2,452.34         50
                                       6.875          2,452.34      734,000.00
    CARLISLE         MA   01741          5            02/17/99         00
    5575973                              05           04/01/99          0
    5575973                              O            03/01/29
    0
 
 
    2761660          976/976             F          383,200.00         ZZ
                                         360        382,885.89          1
    5149 VAIL CREEK COURT              7.000          2,549.44         80
                                       6.750          2,549.44      479,000.00
    SAN DIEGO        CA   92130          1            02/08/99         00
    5606766                              05           04/01/99          0
    5606766                              O            03/01/29
    0
 
 
    2761661          976/976             F          290,600.00         ZZ
                                         360        290,600.00          1
    18201 WICKHAM ROAD                 7.125          1,957.83         80
                                       6.875          1,957.83      364,113.00
    OLNEY            MD   20832          1            03/03/99         00
    5385921                              03           05/01/99          0
    5385921                              O            04/01/29
    0
 
 
    2761662          976/976             F          273,200.00         ZZ
                                         360        272,831.05          1
    20804 REYNOLDS DRIVE               7.625          1,933.70         74
                                       7.375          1,933.70      370,000.00
    TORRANCE         CA   90503          2            02/22/99         00
    5633713                              05           04/01/99          0
1
 
 
    5633713                              O            03/01/29
    0
 
 
    2761663          976/976             F          372,000.00         ZZ
                                         360        371,709.80          1
    6781 BEAVER POND ROAD              7.250          2,537.70         80
                                       7.000          2,537.70      465,000.00
    EL DORADO HILLS  CA   95762          2            02/08/99         00
    5470904                              05           04/01/99          0
    5470904                              O            03/01/29
    0
 
 
    2761664          976/976             F          450,000.00         ZZ
                                         360        450,000.00          1
    1120 SEA LANE                      7.250          3,069.80         64
                                       7.000          3,069.80      708,000.00
    CORONA DEL MAR   CA   92625          1            03/04/99         00
    5633949                              03           05/01/99          0
    5633949                              O            04/01/29
    0
 
 
    2761665          976/976             F          254,000.00         ZZ
                                         360        253,796.88          1
    501 HERONDO STREET #30             7.125          1,711.25         76
                                       6.875          1,711.25      335,000.00
    HERMOSA BEACH    CA   90254          2            02/03/99         00
    5599829                              01           04/01/99          0
    5599829                              O            03/01/29
    0
 
 
    2761666          976/976             F          294,300.00         ZZ
                                         360        293,827.92          1
    261 WEST WASHINGTON ST.            7.125          1,982.75         90
                                       6.875          1,982.75      329,000.00
    RIDGELAND        MS   39157          1            01/29/99         01
    7513359                              05           03/01/99         25
    7513359                              O            02/01/29
    0
 
 
    2761668          976/976             F          338,000.00         ZZ
                                         360        337,755.36          1
    955 11TH STREET                    7.625          2,392.35         65
                                       7.375          2,392.35      525,000.00
    MANHATTAN BEACH  CA   90266          5            02/17/99         00
    5599856                              05           04/01/99          0
    5599856                              O            03/01/29
    0
 
 
1
 
 
    2761669          976/976             F          296,000.00         ZZ
                                         360        296,000.00          1
    28481 BRANDON DRIVE                6.875          1,944.51         80
                                       6.625          1,944.51      370,000.00
    LAGUNA NIGUEL    CA   92677          2            03/01/99         00
    5473498                              03           05/01/99          0
    5473498                              O            04/01/29
    0
 
 
    2761670          976/976             F          278,000.00         ZZ
                                         360        277,808.69          1
    15645 KINGMAN ROAD                 7.875          2,015.69         60
                                       7.625          2,015.69      469,000.00
    POWAY            CA   92064          2            02/10/99         00
    5599832                              05           04/01/99          0
    5599832                              O            03/01/29
    0
 
 
    2761672          976/976             F          330,000.00         ZZ
                                         360        329,347.47          1
    2029 ALAMEDA AVENUE                7.125          2,223.28         79
                                       6.875          2,223.28      420,000.00
    ALAMEDA          CA   94501          2            01/29/99         00
    5590716                              05           03/01/99          0
    5590716                              O            02/01/29
    0
 
 
    2761674          976/976             F          352,500.00         ZZ
                                         360        351,860.11          1
    9555 AMESBURY LANE                 7.875          2,555.88         75
                                       7.625          2,555.88      470,000.00
    EDEN PRAIRIE     MN   55347          5            01/29/99         00
    5589995                              05           03/01/99          0
    5589995                              O            02/01/29
    0
 
 
    2761675          976/976             F          364,000.00         ZZ
                                         360        363,694.19          1
    2197 VISTA LA NISA                 6.875          2,391.23         80
                                       6.625          2,391.23      455,000.00
    CARLSBAD         CA   92009          1            02/18/99         00
    5606789                              03           04/01/99          0
    5606789                              O            03/01/29
    0
 
 
    2761678          976/976             F          288,000.00         ZZ
                                         360        288,000.00          1
    27616 CARBALLO                     7.125          1,940.31         80
                                       6.875          1,940.31      360,000.00
1
 
 
    MISSION VIEJO    CA   92692          2            03/02/99         00
    5633866                              03           05/01/99          0
    5633866                              O            04/01/29
    0
 
 
    2761679          976/976             F          284,000.00         ZZ
                                         360        283,761.40          1
    14104 AVENIDA  ESPANA              6.875          1,865.68         80
                                       6.625          1,865.68      355,000.00
    LA MIRADA        CA   90638          1            02/24/99         00
    5633835                              05           04/01/99          0
    5633835                              O            03/01/29
    0
 
 
    2761680          976/976             F          324,000.00         ZZ
                                         360        323,765.49          1
    3702 AUTUMN GLEN COURT             7.625          2,293.26         45
                                       7.375          2,293.26      725,000.00
    SANTA ROSA       CA   95403          5            02/25/99         00
    5591955                              03           04/01/99          0
    5591955                              O            03/01/29
    0
 
 
    2761681          976/976             F          330,000.00         ZZ
                                         360        329,736.10          1
    1600 MARK WEST SPRINGS ROAD        7.125          2,223.28         60
                                       6.875          2,223.28      558,000.00
    SANTA ROSA       CA   95404          5            02/05/99         00
    5553906                              05           04/01/99          0
    5553906                              O            03/01/29
    0
 
 
    2761683          976/976             F          295,000.00         ZZ
                                         360        294,769.86          1
    5071 PORTA ROSSA CIRCLE            7.250          2,012.43         68
                                       7.000          2,012.43      440,000.00
    PLEASANTON       CA   94588          2            02/17/99         00
    5537590                              03           04/01/99          0
    5537590                              O            03/01/29
    0
 
 
    2761687          976/976             F          337,500.00         ZZ
                                         360        335,885.90          1
    12 WEBB ROAD                       7.500          2,359.85         75
                                       7.250          2,359.85      450,000.00
    NORTH TARRYTOWN  NY   10591          2            09/11/98         00
    5322617                              05           11/01/98          0
    5322617                              O            10/01/28
    0
1
 
 
 
 
    2761688          976/976             F          448,950.00         ZZ
                                         360        448,581.99          1
    1802 BROOKTRAIL COURT              7.000          2,986.88         73
                                       6.750          2,986.88      615,000.00
    VIENNA           VA   22182          2            02/22/99         00
    5531625                              05           04/01/99          0
    5531625                              O            03/01/29
    0
 
 
    2761691          976/976             F          294,500.00         ZZ
                                         360        294,246.43          1
    13077 CHICKASAW ROAD               6.750          1,910.13         95
                                       6.500          1,910.13      310,000.00
    RANCHO CUCAMONG  CA   91739          1            02/03/99         10
    5569449                              05           04/01/99         30
    5569449                              O            03/01/29
    0
 
 
    2761692          976/976             F          360,000.00         ZZ
                                         360        359,697.55          1
    326 CANYON FALLS DRIVE             6.875          2,364.95         80
                                       6.625          2,364.95      450,000.00
    FOLSOM           CA   95630          1            02/03/99         00
    5591000                              05           04/01/99          0
    5591000                              O            03/01/29
    0
 
 
    2761695          976/976             F          650,000.00         ZZ
                                         360        650,000.00          1
    5845 BEAUMONT AVENUE               7.000          4,324.47         69
                                       6.750          4,324.47      954,000.00
    LA JOLLA         CA   92037          5            03/01/99         00
    5617566                              05           05/01/99          0
    5617566                              O            04/01/29
    0
 
 
    2761697          976/976             F          271,200.00         ZZ
                                         360        270,880.69          1
    1287 STUART ROAD                   7.250          1,850.07         80
                                       7.000          1,850.07      339,000.00
    HERNDON          VA   20170          2            02/26/99         00
    5609666                              03           04/01/99          0
    5609666                              O            03/01/29
    0
 
 
    2761699          976/976             F          288,900.00         ZZ
                                         360        288,680.16          1
1
 
 
    13800 ELKHART ROAD                 7.375          1,995.37         90
                                       7.125          1,995.37      321,000.00
    APPLE VALLEY     MN   55124          1            02/26/99         11
    5662422                              05           04/01/99         25
    5662422                              O            03/01/29
    0
 
 
    2761700          976/976             F          255,000.00         ZZ
                                         360        254,790.97          1
    19820 HIAWATHA ROAD                7.000          1,696.53         72
                                       6.750          1,696.53      355,000.00
    ODESSA           FL   33556          2            02/10/99         00
    5447838                              05           04/01/99          0
    5447838                              O            03/01/29
    0
 
 
    2761703          976/976             F          478,000.00         ZZ
                                         360        477,598.41          1
    15 ARLINGTON COURT                 6.875          3,140.13         58
                                       6.625          3,140.13      830,000.00
    KENSINGTON       CA   94707          2            02/12/99         00
    5590980                              05           04/01/99          0
    5590980                              O            03/01/29
    0
 
 
    2761705          976/976             F          526,950.00         ZZ
                                         360        526,461.93          1
    5033 MANOR RIDGE LANE              6.375          3,287.49         80
                                       6.125          3,287.49      658,700.00
    SAN DIEGO        CA   92130          1            02/05/99         00
    5405475                              03           04/01/99          0
    5405475                              O            03/01/29
    0
 
 
    2761707          976/976             F          458,400.00         ZZ
                                         360        458,005.32          1
    1266 COBBLE POND WAY               6.750          2,973.18         80
                                       6.500          2,973.18      573,053.00
    VIENNA           VA   22182          1            02/18/99         00
    5485974                              03           04/01/99          0
    5485974                              O            03/01/29
    0
 
 
    2761708          976/976             F          388,000.00         ZZ
                                         360        387,665.93          1
    1091-A PENSIVE LANE                6.750          2,516.57         80
                                       6.500          2,516.57      485,000.00
    GREAT FALLS      VA   22066          2            02/22/99         00
    5581378                              05           04/01/99          0
1
 
 
    5581378                              O            03/01/29
    0
 
 
    2761712          976/976             F          320,000.00         ZZ
                                         360        319,737.70          1
    9730 MELVIN AVENUE                 7.000          2,128.97         80
    NORTHRIDGE AREA                    6.750          2,128.97      400,000.00
    LOS ANGELES      CA   91324          1            02/03/99         00
    5544446                              05           04/01/99          0
    5544446                              O            03/01/29
    0
 
 
    2761713          976/976             F          344,000.00         ZZ
                                         360        343,718.02          1
    1882 SCENIC VALLEY PLACE           7.000          2,288.65         80
                                       6.750          2,288.65      430,000.00
    ESCONDIDO        CA   92029          1            02/09/99         00
    5606784                              05           04/01/99          0
    5606784                              O            03/01/29
    0
 
 
    2761719          976/976             F          267,500.00         ZZ
                                         360        262,280.73          1
    15 CAMEO CREST                     7.000          1,779.69         62
                                       6.750          1,779.69      435,000.00
    LAGUNA NIGUEL    CA   92677          2            02/10/99         00
    5599971                              03           04/01/99          0
    5599971                              O            03/01/29
    0
 
 
    2761720          976/976             F          252,000.00         ZZ
                                         360        251,803.41          1
    20504 RINGOLD DRIVE                7.250          1,719.09         90
                                       7.000          1,719.09      280,000.00
    ASHBURN          VA   20147          2            02/16/99         04
    5609458                              03           04/01/99         25
    5609458                              O            03/01/29
    0
 
 
    2761721          976/976             F          370,000.00         ZZ
                                         360        369,376.52          1
    310 WILLOW GLADE POINT             6.875          2,430.64         70
                                       6.625          2,430.64      533,763.00
    ALPHARETTA       GA   30022          1            02/03/99         00
    5486028                              03           03/01/99          0
    5486028                              O            02/01/29
    0
 
 
1
 
 
    2761722          976/976             F          300,000.00         ZZ
                                         360        299,754.09          1
    1254 NEW BEDFORD LANE              7.000          1,995.91         55
                                       6.750          1,995.91      550,000.00
    RESTON           VA   20194          5            02/19/99         00
    5581460                              03           04/01/99          0
    5581460                              O            03/01/29
    0
 
 
    2761723          976/976             F          452,000.00         ZZ
                                         360        451,601.21          1
    1133 LANES END N.W.                6.625          2,894.21         80
                                       6.375          2,894.21      565,000.00
    ALBUQUERQUE      NM   87114          2            02/11/99         00
    5427092                              05           04/01/99          0
    5427092                              O            03/01/29
    0
 
 
    2761724          976/976             F          270,000.00         ZZ
                                         360        269,784.08          1
    17 MEADOWLARK COURT                7.125          1,819.05         65
                                       6.875          1,819.05      420,000.00
    NOVATO           CA   94947          1            02/12/99         00
    5482137                              05           04/01/99          0
    5482137                              O            03/01/29
    0
 
 
    2761725          976/976             F          351,000.00         ZZ
                                         360        350,712.28          1
    1395 SUNSET GROVE ROAD             7.000          2,335.22         78
                                       6.750          2,335.22      450,000.00
    FALLBROOK        CA   92028          2            02/19/99         00
    5595098                              05           04/01/99          0
    5595098                              O            03/01/29
    0
 
 
    2761727          976/976             F          410,000.00         ZZ
                                         360        410,000.00          1
    7318 KENTWOOD AVENUE               7.625          2,901.96         72
                                       7.375          2,901.96      575,000.00
    LOS ANGELES      CA   90045          2            03/01/99         00
    5633902                              05           05/01/99          0
    5633902                              O            04/01/29
    0
 
 
    2761729          976/976             F          388,000.00         ZZ
                                         360        387,674.03          1
    21 MIRINO DRIVE                    6.875          2,548.89         80
                                       6.625          2,548.89      485,000.00
1
 
 
    MISSION VIEJO    CA   92692          1            02/22/99         00
    5606866                              03           04/01/99          0
    5606866                              O            03/01/29
    0
 
 
    2761730          976/976             F          268,489.00         ZZ
                                         360        268,274.28          1
    11263 COLT STATION ROAD            7.125          1,808.87         68
                                       6.875          1,808.87      400,000.00
    WALTSBURG        PA   16442          5            03/01/99         00
    5605180                              05           04/01/99          0
    5605180                              O            03/01/29
    0
 
 
    2761732          976/976             F          312,800.00         ZZ
                                         360        312,590.11          2
    164-166 VASSAL LANE                8.000          2,295.22         80
                                       7.750          2,295.22      391,000.00
    CAMBRIDGE        MA   02138          1            02/23/99         00
    5638185                              05           04/01/99          0
    5638185                              O            03/01/29
    0
 
 
    2761734          976/976             F          340,000.00         ZZ
                                         360        339,747.67          1
    1225 14TH STREET                   7.500          2,377.33         80
                                       7.250          2,377.33      425,000.00
    HERMOSA BEACH    CA   90254          2            02/09/99         00
    5599893                              05           04/01/99          0
    5599893                              O            03/01/29
    0
 
 
    2761736          976/976             F          266,650.00         ZZ
                                         360        266,447.10          1
    8755 STRATFORD CROSSING            7.375          1,841.69         80
                                       7.125          1,841.69      335,200.00
    BROOKLYN PARK    MN   55443          1            02/26/99         00
    5411158                              05           04/01/99          0
    5411158                              O            03/01/29
    0
 
 
    2761738          976/976             F          332,000.00         ZZ
                                         360        331,741.00          1
    4 RIVER LANE                       7.250          2,264.83         80
                                       7.000          2,264.83      415,000.00
    COS COB          CT   06878          1            03/01/99         00
    5629251                              05           04/01/99          0
    5629251                              O            03/01/29
    0
1
 
 
 
 
    2761739          976/976             F          387,500.00         ZZ
                                         360        387,174.45          1
    13946 TRINITY COURT                6.875          2,545.60         46
                                       6.625          2,545.60      850,000.00
    SARATOGA         CA   95070          2            02/18/99         00
    5633672                              05           04/01/99          0
    5633672                              O            03/01/29
    0
 
 
    2761740          976/976             F          312,000.00         ZZ
                                         360        311,750.49          1
    974 VISTA RIDGE LANE               7.125          2,102.01         80
                                       6.875          2,102.01      390,000.00
    SHAKOPEE         MN   55379          2            02/12/99         00
    5620931                              05           04/01/99          0
    5620931                              O            03/01/29
    0
 
 
    2761741          976/976             F          270,000.00         ZZ
                                         360        269,773.17          1
    1311 HIDDEN KNOLL COURT            6.875          1,773.71         66
                                       6.625          1,773.71      410,000.00
    EL CAJON         CA   92019          1            02/03/99         00
    5405427                              05           04/01/99          0
    5405427                              O            03/01/29
    0
 
 
    2761742          976/976             F          438,000.00         ZZ
                                         360        437,632.03          1
    1 1/4 MILE NORTH SHARY ROAD        6.875          2,877.35         80
                                       6.625          2,877.35      547,500.00
    MISSION          TX   78572          1            02/19/99         00
    5630187                              05           04/01/99          0
    5630187                              O            03/01/29
    0
 
 
    2761743          976/976             F          300,000.00         ZZ
                                         360        299,765.97          1
    690 CALATRAVA AVENUE               7.250          2,046.53         53
                                       7.000          2,046.53      570,000.00
    CORAL GABLES     FL   33143          5            02/22/99         00
    5646202                              05           04/01/99          0
    5646202                              O            03/01/29
    0
 
 
    2761744          976/976             F          260,750.00         ZZ
                                         360        260,546.58          1
1
 
 
    32023 170TH PLACE SOUTHEAST        7.250          1,778.78         95
                                       7.000          1,778.78      274,500.00
    AUBURN           WA   98092          1            02/24/99         10
    5608610                              05           04/01/99         30
    5608610                              O            03/01/29
    0
 
 
    2761745          976/976             F          388,900.00         ZZ
                                         360        388,556.88          2
    1135 - 1137 MARCUSSEN DRIVE        6.625          2,490.17         58
                                       6.375          2,490.17      675,000.00
    MENLO PARK       CA   94025          2            02/03/99         00
    5576889                              05           04/01/99          0
    5576889                              O            03/01/29
    0
 
 
    2761746          976/976             F          400,000.00         ZZ
                                         360        399,663.95          1
    607 8TH STREET                     6.875          2,627.72         89
                                       6.625          2,627.72      450,000.00
    HUNTINGTON BEAC  CA   92648          1            02/18/99         04
    5633675                              05           04/01/99         25
    5633675                              O            03/01/29
    0
 
 
    2761749          976/976             F          385,000.00         ZZ
                                         360        384,676.55          1
    2370 CALIFORNIA STREET             6.875          2,529.18         30
                                       6.625          2,529.18    1,300,000.00
    SAN FRANCISCO    CA   94115          2            02/09/99         00
    5590808                              05           04/01/99          0
    5590808                              O            03/01/29
    0
 
 
    2761750          976/976             F          289,000.00         ZZ
                                         360        288,569.68          1
    1614 TURNBULL CANYON ROAD          7.500          2,020.74         69
                                       7.250          2,020.74      420,000.00
    HACIENDA HEIGHT  CA   91745          2            01/26/99         00
    5489598                              05           03/01/99          0
    5489598                              O            02/01/29
    0
 
 
    2761752          976/976             F          628,000.00         ZZ
                                         360        627,472.40          1
    1305 BAY VIEW PLACE                6.875          4,125.52         80
                                       6.625          4,125.52      785,000.00
    BERKELEY         CA   94708          2            02/19/99         00
    5640170                              05           04/01/99          0
1
 
 
    5640170                              O            03/01/29
    0
 
 
    2761753          976/976             F          300,500.00         ZZ
                                         360        296,777.00          1
    2324 LACASSE COURT                 7.500          2,101.14         74
                                       7.250          2,101.14      410,000.00
    LINO LAKES       MN   55038          2            02/22/99         00
    5619571                              05           04/01/99          0
    5619571                              O            03/01/29
    0
 
 
    2761754          976/976             F          367,000.00         ZZ
                                         360        366,713.70          1
    12 TREE TOP TERRACE                7.250          2,503.59         63
                                       7.000          2,503.59      590,000.00
    MORRISTOWN       NJ   07960          2            02/10/99         00
    5267948                              05           04/01/99          0
    5267948                              O            03/01/29
    0
 
 
    2761756          976/976             F          280,000.00         ZZ
                                         360        279,786.93          1
    17552 WOODFERN LANE                7.375          1,933.90         68
                                       7.125          1,933.90      415,000.00
    HUNTINGTON BEAC  CA   92649          2            02/19/99         00
    5409674                              05           04/01/99          0
    5409674                              O            03/01/29
    0
 
 
    2761757          976/976             F          625,000.00         ZZ
                                         360        622,173.04          2
    438 EAST 88TH STREET               7.500          4,370.10         45
                                       7.250          4,370.10    1,400,000.00
    NEW YORK         NY   10128          2            09/18/98         00
    5332213                              05           11/01/98          0
    5332213                              O            10/01/28
    0
 
 
    2761759          976/976             F          289,600.00         ZZ
                                         360        289,368.41          1
    15926 CUMBRIA DRIVE                7.125          1,951.09         80
                                       6.875          1,951.09      362,000.00
    SPRING           TX   77379          2            02/24/99         00
    5475321                              03           04/01/99          0
    5475321                              O            03/01/29
    0
 
 
1
 
 
    2761760          976/976             F          420,000.00         ZZ
                                         360        419,664.13          1
    WEST SHORE TRAIL                   7.125          2,829.62         80
                                       6.875          2,829.62      525,000.00
    SPARTA           NJ   07871          1            02/23/99         00
    5268495                              03           04/01/99          0
    5268495                              O            03/01/29
    0
 
 
    2761762          976/976             F          308,000.00         ZZ
                                         360        307,728.26          1
    780 KNIGHT LANE                    6.625          1,972.16         80
                                       6.375          1,972.16      385,000.00
    EL DORADO HILLS  CA   95762          1            02/19/99         00
    5640015                              05           04/01/99          0
    5640015                              O            03/01/29
    0
 
 
    2761763          976/976             F          324,000.00         ZZ
                                         360        323,740.90          1
    5608 CAMERON CREEK COURT           7.125          2,182.85         80
                                       6.875          2,182.85      405,000.00
    GRANITE BAY      CA   95746          1            02/10/99         00
    5640365                              03           04/01/99          0
    5640365                              O            03/01/29
    0
 
 
    2761765          976/976             F          270,000.00         ZZ
                                         360        269,773.17          1
    21426 LIGHTHILL DRIVE              6.875          1,773.71         75
                                       6.625          1,773.71      360,000.00
    TOPANGA AREA     CA   90290          5            02/12/99         00
    5606490                              05           04/01/99          0
    5606490                              O            03/01/29
    0
 
 
    2761766          976/976             F          450,000.00         ZZ
                                         360        450,000.00          1
    1565 KENSINGTON ROAD               6.875          2,956.19         57
                                       6.625          2,956.19      798,000.00
    SAN MARINO       CA   91108          1            03/03/99         00
    5652159                              05           05/01/99          0
    5652159                              O            04/01/29
    0
 
 
    2761767          976/976             F          100,000.00         ZZ
                                         360         99,918.02          1
    8901 SERAPIS AVENUE #29            7.000            665.31         60
                                       6.750            665.31      169,000.00
1
 
 
    DOWNEY           CA   90240          1            02/09/99         00
    5633678                              09           04/01/99          0
    5633678                              O            03/01/29
    0
 
 
    2761770          976/976             F          348,000.00         ZZ
                                         360        347,671.70          1
    9253 SOUTH DURBAN ROAD             7.125          2,344.55         80
                                       6.875          2,344.55      435,000.00
    SANDY            UT   84093          1            02/16/99         00
    5290475                              05           04/01/99          0
    5290475                              O            03/01/29
    0
 
 
    2761772          976/976             F          403,550.00         ZZ
                                         360        403,235.18          1
    17 WESTCHESTER COURT               7.250          2,752.93         67
                                       7.000          2,752.93      605,000.00
    COTO DE CAZA AR  CA   92679          5            02/25/99         00
    5597388                              03           04/01/99          0
    5597388                              O            03/01/29
    0
 
 
    2761774          976/976             F          362,000.00         ZZ
                                         360        361,724.54          1
    229 16TH STREET                    7.375          2,500.25         80
                                       7.125          2,500.25      455,000.00
    WILMETTE         IL   60091          2            02/10/99         00
    5600666                              05           04/01/99          0
    5600666                              O            03/01/29
    0
 
 
    2761776          976/976             F          352,000.00         ZZ
                                         360        351,732.15          1
    146 WAGGONER COURT                 7.375          2,431.18         80
                                       7.125          2,431.18      440,000.00
    FORT WORTH       TX   76108          2            02/22/99         00
    5610542                              03           04/01/99          0
    5610542                              O            03/01/29
    0
 
 
    2761777          976/976             F          300,000.00         ZZ
                                         360        299,747.96          1
    223 CLIPPER STREET                 6.875          1,970.79         53
                                       6.625          1,970.79      568,000.00
    SAN FRANCISCO    CA   94114          1            02/17/99         00
    5482971                              05           04/01/99          0
    5482971                              O            03/01/29
    0
1
 
 
 
 
    2761778          976/976             F          359,450.00         ZZ
                                         360        359,140.52          1
    58 RICHARDSON ROAD                 6.750          2,331.39         80
                                       6.500          2,331.39      449,578.00
    NOVATO           CA   95959          1            02/17/99         00
    5413965                              03           04/01/99          0
    5413965                              O            03/01/29
    0
 
 
    2761779          976/976             F          348,000.00         ZZ
                                         360        347,721.70          1
    9760 VALE STREET NORTHWEST         7.125          2,344.55         80
                                       6.875          2,344.55      435,000.00
    COON RAPIDS      MN   55433          2            02/23/99         00
    5662449                              05           04/01/99          0
    5662449                              O            03/01/29
    0
 
 
    2761780          976/976             F          292,000.00         ZZ
                                         360        291,772.21          1
    264 EL DUANE COURT                 7.250          1,991.96         80
                                       7.000          1,991.96      365,000.00
    SANTA FE         NM   87501          1            02/11/99         00
    5598290                              05           04/01/99          0
    5598290                              O            03/01/29
    0
 
 
    2761782          976/976             F          370,400.00         ZZ
                                         360        370,400.00          1
    5235 CENTRAL AVE                   7.125          2,495.46         80
                                       6.875          2,495.46      463,000.00
    OCEAN CITY       NJ   08226          1            03/05/99         00
    5268773                              05           05/01/99          0
    5268773                              O            04/01/29
    0
 
 
    2761783          976/976             F          361,800.00         ZZ
                                         360        361,488.50          1
    43324 SUGARBUSH COURT              6.750          2,346.63         80
                                       6.500          2,346.63      452,277.00
    LEESBURG         VA   20176          1            02/17/99         00
    5609695                              03           04/01/99          0
    5609695                              O            03/01/29
    0
 
 
    2761785          976/976             F          637,500.00         ZZ
                                         360        637,014.91          1
1
 
 
    345 GREENWICH STREET UNIT 2B       7.375          4,403.06         75
                                       7.125          4,403.06      850,000.00
    NEW YORK         NY   10016          1            03/02/99         00
    5594524                              01           04/01/99          0
    5594524                              O            03/01/29
    0
 
 
    2761787          976/976             F          366,000.00         ZZ
                                         360        365,735.10          1
    1729 RIVER OAKS DR SE              7.625          2,590.53         80
                                       7.375          2,590.53      461,000.00
    ADA              MI   49301          2            02/26/99         00
    5326997                              05           04/01/99          0
    5326997                              O            03/01/29
    0
 
 
    2761789          976/976             F          340,000.00         ZZ
                                         360        339,412.89          1
    1809 OAK FOREST DRIVE              6.750          2,205.23         75
                                       6.500          2,205.23      455,000.00
    EDMOND           OK   73003          2            01/15/99         00
    7513954                              03           03/01/99          0
    7513954                              O            02/01/29
    0
 
 
    2761791          976/976             F          270,000.00         ZZ
                                         360        269,809.43          1
    15661 FOSTER ROAD                  7.750          1,934.32         75
                                       7.500          1,934.32      360,000.00
    LA MIRADA        CA   90638          2            02/10/99         00
    5544483                              05           04/01/99          0
    5544483                              O            03/01/29
    0
 
 
    2761793          976/976             F          412,000.00         ZZ
                                         360        411,716.46          1
    23731 MONTEGO BAY                  7.875          2,987.29         80
                                       7.625          2,987.29      515,000.00
    DANA POINT       CA   92629          2            02/12/99         00
    5633619                              03           04/01/99          0
    5633619                              O            03/01/29
    0
 
 
    2761794          976/976             F          260,000.00         ZZ
                                         360        259,356.89          1
    4002 LACROUX COURT                 7.000          1,729.79         80
                                       6.750          1,729.79      325,000.00
    OCEAN SPRINGS    MS   39564          2            12/11/98         00
    7509369                              05           02/01/99          0
1
 
 
    7509369                              O            01/01/29
    0
 
 
    2761795          976/976             F          383,000.00         ZZ
                                         360        382,729.68          1
    812 FLORES DE ORO                  7.750          2,743.86         67
                                       7.500          2,743.86      580,000.00
    SOUTH PASADENA   CA   91030          2            02/01/99         00
    5544969                              05           04/01/99          0
    5544969                              O            03/01/29
    0
 
 
    2761796          976/976             F          272,000.00         ZZ
                                         360        271,787.81          1
    7920 BECKWITH                      7.250          1,855.52         80
                                       7.000          1,855.52      340,000.00
    MORTON GROVE     IL   60053          1            02/17/99         00
    5600681                              05           04/01/99          0
    5600681                              O            03/01/29
    0
 
 
    2761800          976/976             F          375,000.00         ZZ
                                         360        374,707.46          1
    239 CALLE CONCORDIA                7.250          2,558.17         75
                                       7.000          2,558.17      500,000.00
    SAN DIMAS        CA   91773          2            02/08/99         00
    5537565                              03           04/01/99          0
    5537565                              O            03/01/29
    0
 
 
    2761801          976/976             F          480,000.00         ZZ
                                         360        479,162.27          1
    6670 POINTE LAKE LUCY              7.000          3,193.46         66
                                       6.750          3,193.46      730,000.00
    CHANHASSEN       MN   55317          5            02/19/99         00
    5619513                              05           04/01/99          0
    5619513                              O            03/01/29
    0
 
 
    2761804          976/976             F          265,600.00         ZZ
                                         360        265,600.00          1
    98 FRANZ COURT                     7.250          1,811.87         80
                                       7.000          1,811.87      332,000.00
    PACIFICA         CA   94044          1            03/02/99         00
    5621072                              05           05/01/99          0
    5621072                              O            04/01/29
    0
 
 
1
 
 
    2761805          976/976             F          315,000.00         ZZ
                                         360        314,754.27          1
    1086 SOUTH MILES COURT             7.250          2,148.86         75
                                       7.000          2,148.86      420,000.00
    ANAHEIM HILLS A  CA   92808          2            02/19/99         00
    5633714                              03           04/01/99          0
    5633714                              O            03/01/29
    0
 
 
    2761807          976/976             F          294,405.00         ZZ
                                         360        293,523.37          1
    1390 TARTAN CIRCLE                 7.125          1,983.47         95
                                       6.875          1,983.47      309,900.00
    PLACENTIA        CA   92870          1            02/02/99         21
    5601028                              05           04/01/99         30
    5601028                              O            03/01/29
    0
 
 
    2761809          976/976             F          266,000.00         ZZ
                                         360        265,781.96          1
    4771 ROUND TOP DRIVE               7.000          1,769.71         85
                                       6.750          1,769.71      315,000.00
    LOS ANGELES      CA   90065          2            02/16/99         10
    5537595                              05           04/01/99         12
    5537595                              O            03/01/29
    0
 
 
    2761812          976/976             F          268,000.00         ZZ
                                         360        268,000.00          1
    7906 AYLESFORD LANE                7.500          1,873.90         80
                                       7.250          1,873.90      335,000.00
    LAUREL           MD   20707          2            03/05/99         00
    5647011                              03           05/01/99          0
    5647011                              O            04/01/29
    0
 
 
    2761813          976/976             F          324,000.00         ZZ
                                         360        323,541.16          1
    8204 WESTLAWN AVENUE               7.750          2,321.18         80
                                       7.500          2,321.18      405,000.00
    LOS ANGELES      CA   90045          2            01/27/99         00
    5599847                              05           03/01/99          0
    5599847                              O            02/01/29
    0
 
 
    2761814          976/976             F          273,950.00         ZZ
                                         360        273,488.38          1
    801 LAKE VISTA CIRCLE              6.875          1,799.66         80
                                       6.625          1,799.66      342,450.00
1
 
 
    VESTEVIA         AL   35242          1            02/01/99         00
    7514205                              03           03/01/99          0
    7514205                              O            02/01/29
    0
 
 
    2761815          976/976             F          294,000.00         ZZ
                                         360        293,562.24          1
    5799 BRANDYWINE COURT              7.500          2,055.70         76
                                       7.250          2,055.70      388,000.00
    GRANITE BAY      CA   95746          2            01/20/99         00
    5563279                              05           03/01/99          0
    5563279                              O            02/01/29
    0
 
 
    2761816          976/976             F          500,000.00         ZZ
                                         360        499,590.15          1
    94 EAST TWISTED OAK DRIVE          7.000          3,326.52         79
                                       6.750          3,326.52      640,000.00
    SIMI VALLEY      CA   93065          1            02/12/99         00
    5544976                              03           04/01/99          0
    5544976                              O            03/01/29
    0
 
 
    2761819          976/976             F          498,750.00         ZZ
                                         360        498,330.98          1
    420 HOPKINS ROAD                   6.875          3,276.44         70
                                       6.625          3,276.44      712,500.00
    SACRAMENTO       CA   95864          1            02/08/99         00
    5599853                              05           04/01/99          0
    5599853                              O            03/01/29
    0
 
 
    2761821          976/976             F          327,500.00         ZZ
                                         360        327,224.85          1
    590 MOOSEHILL ROAD                 6.875          2,151.45         76
                                       6.625          2,151.45      435,000.00
    GUILFORD         CT   06437          2            02/09/99         00
    5596905                              05           04/01/99          0
    5596905                              O            03/01/29
    0
 
 
    2761822          976/976             F          402,000.00         ZZ
                                         360        402,000.00          1
    3394 ALANA DRIVE                   6.875          2,640.86         70
    SHERMAN OAKS AREA                  6.625          2,640.86      575,000.00
    LOS ANGELES      CA   91403          2            03/01/99         00
    5435484                              05           05/01/99          0
    5435484                              O            04/01/29
    0
1
 
 
 
 
    2761824          976/976             F          174,800.00         ZZ
                                         360        174,676.63          1
    5137 FAIRFAX AVENUE                7.750          1,252.29         95
                                       7.500          1,252.29      184,000.00
    OAKLAND          CA   94601          2            02/01/99         11
    5590150                              05           04/01/99         30
    5590150                              O            03/01/29
    0
 
 
    2761826          976/976             F          315,000.00         ZZ
                                         360        314,735.36          1
    2601 ELDRIDGE LANE                 6.875          2,069.33         90
                                       6.625          2,069.33      350,000.00
    WACO             TX   76710          2            02/10/99         04
    5548051                              05           04/01/99         25
    5548051                              O            03/01/29
    0
 
 
    2761830          976/976             F          289,600.00         ZZ
                                         360        289,600.00          1
    2121 EVERGLADES PLACE              7.250          1,975.59         80
                                       7.000          1,975.59      362,000.00
    DAVIS            CA   95616          2            03/02/99         00
    5590930                              05           05/01/99          0
    5590930                              O            04/01/29
    0
 
 
    2761833          976/976             F          376,500.00         ZZ
                                         360        376,500.00          1
    12410 COCONUT CREEK COURT          7.000          2,504.87         64
                                       6.750          2,504.87      590,000.00
    FT. MYERS        FL   33908          2            03/05/99         00
    5644245                              03           05/01/99          0
    5644245                              O            04/01/29
    0
 
 
    2761834          976/976             F          328,000.00         ZZ
                                         360        328,000.00          1
    66 SCHOOL STREET                   7.250          2,237.54         80
                                       7.000          2,237.54      410,000.00
    LEXINGTON        MA   02421          2            03/08/99         00
    5442870                              05           05/01/99          0
    5442870                              O            04/01/29
    0
 
 
    2761836          976/976             F          284,000.00         ZZ
                                         360        283,778.44          1
1
 
 
    11725 114TH PLACE NORTHEAST        7.250          1,937.39         95
                                       7.000          1,937.39      299,000.00
    KIRKLAND         WA   98034          1            02/09/99         10
    5608733                              01           04/01/99         30
    5608733                              O            03/01/29
    0
 
 
    2761837          976/976             F          260,000.00         ZZ
                                         360        259,781.56          1
    609 NORTH PROSPECT AVENUE          6.875          1,708.02         80
                                       6.625          1,708.02      325,000.00
    REDONDO BEACH    CA   90277          1            02/05/99         00
    5599953                              05           04/01/99          0
    5599953                              O            03/01/29
    0
 
 
    2761838          976/976             F          500,000.00         ZZ
                                         360        499,600.15          1
    1513 SOUTH FIRST AVENUE            7.125          3,368.60         80
                                       6.875          3,368.60      625,000.00
    ARCADIA          CA   91006          1            02/22/99         00
    5606318                              05           04/01/99          0
    5606318                              O            03/01/29
    0
 
 
    2761839          976/976             F          315,000.00         ZZ
                                         360        314,735.36          1
    22726 FERN AVENUE                  6.875          2,069.33         90
                                       6.625          2,069.33      350,000.00
    TORRANCE         CA   90505          1            02/23/99         11
    5473040                              05           04/01/99         25
    5473040                              O            03/01/29
    0
 
 
    2761840          976/976             F          329,000.00         ZZ
                                         360        328,743.34          1
    11459 FORTY NINER CIRCLE           7.250          2,244.37         87
                                       7.000          2,244.37      382,000.00
    GOLD RIVER       CA   95670          2            02/22/99         10
    5640254                              03           04/01/99         25
    5640254                              O            03/01/29
    0
 
 
    2761841          976/976             F          258,300.00         ZZ
                                         360        258,300.00          1
    62 PERSHING AVE                    7.125          1,740.22         90
                                       6.875          1,740.22      287,000.00
    NEW ROCHELLE     NY   10801          1            03/03/99         10
    5441496                              05           05/01/99         25
1
 
 
    5441496                              O            04/01/29
    0
 
 
    2761843          976/976             F          290,400.00         ZZ
                                         360        290,173.46          1
    10100 JANETTA WAY                  7.250          1,981.04         80
                                       7.000          1,981.04      363,000.00
    LOS ANGELES      CA   91040          1            02/12/99         00
    5599915                              05           04/01/99          0
    5599915                              O            03/01/29
    0
 
 
    2761844          976/976             F          348,000.00         ZZ
                                         360        347,735.20          1
    18 KINGWOOD ROAD                   7.375          2,403.55         80
                                       7.125          2,403.55      435,000.00
    SCARSDALE        NY   10583          1            02/08/99         00
    5594787                              05           04/01/99          0
    5594787                              O            03/01/29
    0
 
 
    2761846          976/976             F          270,000.00         ZZ
                                         360        263,472.75          1
    5052 ASHLEY FALLS COURT            7.125          1,819.05         52
                                       6.875          1,819.05      528,396.00
    SAN DIEGO        CA   92130          1            07/23/98         00
    5269492                              05           09/01/98          0
    5269492                              O            08/01/28
    0
 
 
    2761847          976/976             F          350,000.00         ZZ
                                         360        349,759.13          1
    10807 HARLEY ROAD                  7.875          2,537.75         68
                                       7.625          2,537.75      521,000.00
    LORTON           VA   22079          2            02/26/99         00
    5574715                              05           04/01/99          0
    5574715                              O            03/01/29
    0
 
 
    2761848          976/976             F          434,000.00         ZZ
                                         360        433,320.82          1
    47 DEAN ROAD                       7.250          2,960.65         58
                                       7.000          2,960.65      760,000.00
    WESTON           MA   02493          2            02/01/99         00
    5576000                              05           03/01/99          0
    5576000                              O            02/01/29
    0
 
 
1
 
 
    2761850          976/976             F          336,000.00         ZZ
                                         360        335,717.71          1
    14 CORSICA                         6.875          2,207.29         80
                                       6.625          2,207.29      420,000.00
    IRVINE           CA   92614          1            02/25/99         00
    5652038                              03           04/01/99          0
    5652038                              O            03/01/29
    0
 
 
    2761851          976/976             F          650,000.00         ZZ
                                         360        650,000.00          1
    4021 FIGARO CIRCLE                 7.000          4,324.47         66
                                       6.750          4,324.47      985,000.00
    HUNTINGTON BEAC  CA   92649          1            03/03/99         00
    5634087                              05           05/01/99          0
    5634087                              O            04/01/29
    0
 
 
    2761853          976/976             F          374,700.00         ZZ
                                         360        374,377.39          1
    20245 LANDIG CIRCLE                6.750          2,430.30         80
                                       6.500          2,430.30      468,432.00
    YORBA LINDA      CA   92886          1            02/17/99         00
    5599827                              03           04/01/99          0
    5599827                              O            03/01/29
    0
 
 
    2761860          976/976             F          310,400.00         ZZ
                                         360        310,157.85          1
    10145 SW REDWING TERRACE           7.250          2,117.48         80
                                       7.000          2,117.48      388,000.00
    BEAVERTON        OR   97007          2            02/09/99         00
    5538227                              03           04/01/99          0
    5538227                              O            03/01/29
    0
 
 
    2761861          976/976             F          256,000.00         ZZ
                                         360        255,599.38          1
    3301 BRISTOL COURT                 7.250          1,746.37         95
                                       7.000          1,746.37      270,000.00
    STILLWATER       OK   74074          1            01/27/99         01
    7514083                              03           03/01/99         30
    7514083                              O            02/01/29
    0
 
 
    2761863          976/976             F          337,500.00         ZZ
                                         360        337,249.53          1
    620 CALLE HIDALGO                  7.500          2,359.85         75
                                       7.250          2,359.85      450,000.00
1
 
 
    SAN CLEMENTE     CA   92673          2            02/12/99         00
    5599732                              03           04/01/99          0
    5599732                              O            03/01/29
    0
 
 
    2761866          976/976             F          282,000.00         ZZ
                                         360        281,629.81          1
    1251 IMPERIAL DRIVE                8.125          2,093.85         60
                                       7.875          2,093.85      470,000.00
    GLENDALE         CA   91207          5            01/21/99         00
    5579995                              05           03/01/99          0
    5579995                              O            02/01/29
    0
 
 
    2761867          976/976             F          293,600.00         ZZ
                                         360        293,353.33          1
    20372 CAMFIELD LANE                6.875          1,928.75         80
                                       6.625          1,928.75      367,000.00
    HUNTINGTON BEAC  CA   92646          2            02/18/99         00
    5473470                              05           04/01/99          0
    5473470                              O            03/01/29
    0
 
 
    2761870          976/976             F          260,000.00         ZZ
                                         360        259,649.92          1
    6119 PRINCE DRIVE                  8.000          1,907.79         60
                                       7.750          1,907.79      440,000.00
    SAN JOSE         CA   95129          5            01/20/99         00
    5599757                              05           03/01/99          0
    5599757                              O            02/01/29
    0
 
 
    2761871          976/976             F          350,000.00         ZZ
                                         360        349,698.65          1
    4415 SHOREWOOD TRAIL               6.750          2,270.10         68
                                       6.500          2,270.10      515,000.00
    MEDINA           MN   55340          5            02/08/99         00
    5526412                              05           04/01/99          0
    5526412                              O            03/01/29
    0
 
 
    2761873          976/976             F          325,000.00         ZZ
                                         360        324,726.96          1
    28404 GOLDEN MEADOW DRIVE          6.875          2,135.02         62
                                       6.625          2,135.02      525,000.00
    RANCHO PALOS VE  CA   90275          1            02/23/99         00
    5633836                              05           04/01/99          0
    5633836                              O            03/01/29
    0
1
 
 
 
 
    2761874          976/976             F          287,000.00         ZZ
                                         360        287,000.00          1
    9532 DUMBRECK DRIVE                7.000          1,909.42         71
                                       6.750          1,909.42      405,000.00
    HUNTINGTON BEAC  CA   92646          5            03/01/99         00
    5599945                              05           05/01/99          0
    5599945                              O            04/01/29
    0
 
 
    2761876          976/976             F          100,000.00         ZZ
                                         360         99,671.00          1
    6500 LONG BEACH DRIVE              7.000            665.31         32
                                       6.750            665.31      313,000.00
    SAINT LEONARD    MD   20685          5            02/25/99         00
    5609419                              03           04/01/99          0
    5609419                              O            03/01/29
    0
 
 
    2761877          976/976             F          270,000.00         ZZ
                                         360        269,617.65          1
    7556 BUFFALO ROAD                  7.750          1,934.31         75
                                       7.500          1,934.31      360,000.00
    NASHVILLE        TN   37221          5            01/13/99         00
    7514954                              05           03/01/99          0
    7514954                              O            02/01/29
    0
 
 
    2761878          976/976             F          330,000.00         ZZ
                                         360        329,729.50          1
    25 FAIRHOPE AVENUE                 7.000          2,195.50         74
                                       6.750          2,195.50      450,000.00
    TONKA BAY        MN   55331          5            02/05/99         00
    5525171                              05           04/01/99          0
    5525171                              O            03/01/29
    0
 
 
    2761880          976/976             F          257,000.00         ZZ
                                         360        256,190.74          1
    2807 FOUNTAIN GRACE TERRACE        7.250          1,753.20         78
                                       7.000          1,753.20      330,000.00
    OLNEY            MD   20832          2            11/09/98         00
    5458668                              03           01/01/99          0
    5458668                              O            12/01/28
    0
 
 
    2761881          976/976             F          287,500.00         ZZ
                                         360        287,264.33          1
1
 
 
    14524 NELSON WAY                   7.000          1,912.75         69
                                       6.750          1,912.75      417,000.00
    SAN JOSE         CA   95124          2            02/02/99         00
    5599898                              05           04/01/99          0
    5599898                              O            03/01/29
    0
 
 
    2761882          976/976             F          400,000.00         ZZ
                                         360        399,419.14          1
    23171 VIA CELESTE                  7.625          2,831.18         73
                                       7.375          2,831.18      555,000.00
    COTO DE CAZA     CA   92679          2            01/25/99         00
    5489558                              03           03/01/99          0
    5489558                              O            02/01/29
    0
 
 
    2761883          976/976             F          227,150.00         ZZ
                                         360        226,645.07          1
    11471 ASH CREEK PLACE              7.000          1,511.24         59
                                       6.750          1,511.24      385,900.00
    SAN DIEGO        CA   92131          1            01/26/99         00
    5269755                              05           03/01/99          0
    5269755                              O            02/01/29
    0
 
 
    2761884          976/976             F          444,000.00         ZZ
                                         360        443,653.63          1
    18612 ASPESI DRIVE                 7.250          3,028.87         80
                                       7.000          3,028.87      555,000.00
    SARATOGA         CA   95070          1            02/02/99         00
    5590916                              05           04/01/99          0
    5590916                              O            03/01/29
    0
 
 
    2761885          976/976             F          372,700.00         ZZ
                                         360        372,700.00          1
    9 WHITEHOUSE WAY                   7.875          2,702.34         78
                                       7.625          2,702.34      482,761.00
    MONROE TWP       NJ   07726          1            03/09/99         00
    5267865                              05           05/01/99          0
    5267865                              O            04/01/29
    0
 
 
    2761886          976/976             F          440,000.00         ZZ
                                         360        439,689.45          1
    2133 MERIDA COURT                  7.750          3,152.22         80
    LA JOLLA AREA                      7.500          3,152.22      550,000.00
    SAN DIEGO        CA   92037          2            02/19/99         00
    5553482                              05           04/01/99          0
1
 
 
    5553482                              O            03/01/29
    0
 
 
    2761888          976/976             F          312,000.00         ZZ
                                         360        309,029.21          1
    1855 PEMBERTON PLACE               7.125          2,102.01         68
                                       6.875          2,102.01      463,000.00
    MARIETTA         GA   30062          2            10/23/98         00
    5451910                              05           12/01/98          0
    5451910                              O            11/01/28
    0
 
 
    2761890          976/976             F          373,000.00         ZZ
                                         360        372,730.02          1
    19005 POPPY HILL CIRCLE            7.625          2,640.08         70
                                       7.375          2,640.08      534,900.00
    HUNTINGTON BEAC  CA   92648          2            02/22/99         00
    5599779                              03           04/01/99          0
    5599779                              O            03/01/29
    0
 
 
    2761891          976/976             F          315,000.00         ZZ
                                         360        314,741.79          1
    3832 SERENITY HILLS DRIVE          7.000          2,095.71         77
                                       6.750          2,095.71      412,000.00
    VACAVILLE        CA   95688          2            02/24/99         00
    5590783                              05           04/01/99          0
    5590783                              O            03/01/29
    0
 
 
    2761892          976/976             F          212,000.00         ZZ
                                         360        211,826.22          1
    10802 SAN PACO AVENUE              7.000          1,410.45         80
                                       6.750          1,410.45      265,000.00
    FOUNTAIN VALLEY  CA   92708          1            02/01/99         00
    5599886                              03           04/01/99          0
    5599886                              O            03/01/29
    0
 
 
    2761893          976/976             F          440,000.00         ZZ
                                         360        439,697.19          1
    21666 SUPERIOR LANE                7.875          3,190.31         80
                                       7.625          3,190.31      550,000.00
    LAKE FOREST      CA   92630          2            02/10/99         00
    5633618                              03           04/01/99          0
    5633618                              O            03/01/29
    0
 
 
1
 
 
    2761894          976/976             F          275,000.00         T
                                         360        275,000.00          1
    8 SEAWEED ROAD                     7.125          1,852.73         69
                                       6.875          1,852.73      400,000.00
    SOUTHAMPTON      NY   11968          2            03/08/99         00
    5268723                              05           05/01/99          0
    5268723                              O            04/01/29
    0
 
 
    2761895          976/976             F          252,000.00         ZZ
                                         360        251,605.65          1
    4524 RIPON ROAD                    7.250          1,719.08         90
                                       7.000          1,719.08      280,000.00
    CRYSTAL LAKE     IL   60012          1            01/15/99         19
    7513676                              05           03/01/99         25
    7513676                              O            02/01/29
    0
 
 
    2761896          976/976             F          248,000.00         ZZ
                                         360        247,611.89          1
    1327 CALLE CHRISTOPHER STREET      7.250          1,691.80         80
                                       7.000          1,691.80      310,000.00
    ENCINITAS        CA   92024          2            01/27/99         00
    5595334                              03           03/01/99          0
    5595334                              O            02/01/29
    0
 
 
    2761897          976/976             F          315,000.00         ZZ
                                         360        314,754.27          1
    53 BEECHAM COURT                   7.250          2,148.86         75
                                       7.000          2,148.86      420,000.00
    OWINGS MILLS     MD   21117          2            02/19/99         00
    5609752                              03           04/01/99          0
    5609752                              O            03/01/29
    0
 
 
    2761898          976/976             F          395,000.00         ZZ
                                         360        394,676.22          1
    10396 BLUFF ROAD                   7.000          2,627.95         73
                                       6.750          2,627.95      547,000.00
    EDEN PRAIRIE     MN   55347          5            02/23/99         00
    5619776                              05           04/01/99          0
    5619776                              O            03/01/29
    0
 
 
    2761900          976/976             F          278,350.00         ZZ
                                         360        278,350.00          1
    2772 VINEYARD PARK PLACE           6.500          1,759.37         80
                                       6.250          1,759.37      347,950.00
1
 
 
    SAN JOSE         CA   95148          1            03/01/99         00
    5548879                              03           05/01/99          0
    5548879                              O            04/01/29
    0
 
 
    2761901          976/976             F          343,900.00         ZZ
                                         360        343,900.00          1
    8769 EAST HONEYBEAR PLACE          7.125          2,316.92         80
                                       6.875          2,316.92      429,900.00
    TUCSON           AZ   85749          1            03/03/99         00
    5379443                              03           05/01/99          0
    5379443                              O            04/01/29
    0
 
 
    2761904          976/976             F          327,000.00         ZZ
                                         360        326,725.28          1
    5 WEST AMBLER ROAD                 6.875          2,148.16         80
                                       6.625          2,148.16      409,000.00
    WESTPORT         CT   06880          1            02/19/99         00
    5596946                              05           04/01/99          0
    5596946                              O            03/01/29
    0
 
 
    2761905          976/976             F          320,000.00         ZZ
                                         360        319,717.67          1
    9104 PEARTREE LANDING              6.625          2,049.00         80
                                       6.375          2,049.00      400,000.00
    ALEXANDRIA       VA   22309          1            02/26/99         00
    5609979                              05           04/01/99          0
    5609979                              O            03/01/29
    0
 
 
    2761906          976/976             F          300,000.00         ZZ
                                         360        300,000.00          1
    1196 SAINT ANDREWS LANE            7.125          2,021.16         80
                                       6.875          2,021.16      378,250.00
    WEST CHESTER     PA   19382          1            03/11/99         00
    5654049                              05           05/01/99          0
    5654049                              O            04/01/29
    0
 
 
    2761907          976/976             F          280,000.00         ZZ
                                         360        279,776.08          1
    1965 PRAY MEADOW                   7.125          1,886.42         63
                                       6.875          1,886.42      450,000.00
    GLENBROOK        NV   89413          5            02/16/99         00
    5420556                              09           04/01/99          0
    5420556                              O            03/01/29
    0
1
 
 
 
 
    2761908          976/976             F          298,000.00         ZZ
                                         360        297,778.84          1
    8612 MASTERS DRIVE                 7.500          2,083.66         80
                                       7.250          2,083.66      375,000.00
    HUNTINGTON BEAC  CA   92646          2            02/22/99         00
    5633899                              05           04/01/99          0
    5633899                              O            03/01/29
    0
 
 
    2761910          976/976             F          388,000.00         ZZ
                                         360        387,704.76          2
    1140-1142 10TH STREET              7.375          2,679.82         71
                                       7.125          2,679.82      550,000.00
    MANHATTAN BEACH  CA   90266          2            02/19/99         00
    5633652                              05           04/01/99          0
    5633652                              O            03/01/29
    0
 
 
    2761911          976/976             F          303,150.00         ZZ
                                         360        302,901.50          1
    2022 BLACKHEATH LANE               7.000          2,016.87         90
                                       6.750          2,016.87      336,881.00
    ROSEVILLE        CA   95678          1            02/01/99         10
    5397549                              03           04/01/99         25
    5397549                              O            03/01/29
    0
 
 
    2761912          976/976             F          288,750.00         ZZ
                                         360        288,298.14          1
    330 GROVE ROAD                     7.250          1,969.78         75
                                       7.000          1,969.78      385,000.00
    COLLIERVILLE     TN   38017          2            01/25/99         00
    7514817                              05           03/01/99          0
    7514817                              O            02/01/29
    0
 
 
    2761913          976/976             F          505,000.00         ZZ
                                         360        504,586.05          1
    5713 VIA MONTECITO                 7.000          3,359.78         72
                                       6.750          3,359.78      710,000.00
    LOOMIS           CA   95650          2            02/10/99         00
    5640280                              03           04/01/99          0
    5640280                              O            03/01/29
    0
 
 
    2761917          976/976             F          256,000.00         ZZ
                                         360        255,779.58          1
1
 
 
    3215 MACHADO AVENUE                6.750          1,660.42         80
                                       6.500          1,660.42      320,000.00
    SANTA CLARA      CA   95051          1            02/11/99         00
    5480815                              05           04/01/99          0
    5480815                              O            03/01/29
    0
 
 
    2761919          976/976             F          380,000.00         ZZ
                                         360        379,696.11          1
    615 SAWMILL BROOK PARKWAY          7.125          2,560.14         80
                                       6.875          2,560.14      475,000.00
    NEWTON           MA   02459          1            03/03/99         00
    5596364                              05           04/01/99          0
    5596364                              O            03/01/29
    0
 
 
    2761920          976/976             F          572,000.00         ZZ
                                         360        571,531.14          1
    625 LOWELL AVENUE                  7.000          3,805.53         39
                                       6.750          3,805.53    1,480,000.00
    PALO ALTO        CA   94301          2            02/25/99         00
    5633912                              05           04/01/99          0
    5633912                              O            03/01/29
    0
 
 
    2761921          976/976             F          309,500.00         ZZ
                                         360        309,239.98          1
    25460 DOYLE COURT                  6.875          2,033.20         74
                                       6.625          2,033.20      420,000.00
    STEVENSON RANCH  CA   91381          2            02/03/99         00
    5606240                              03           04/01/99          0
    5606240                              O            03/01/29
    0
 
 
    2761922          976/976             F          500,000.00         ZZ
                                         360        499,579.93          1
    26704 NOKOMIS ROAD                 6.875          3,284.65         80
                                       6.625          3,284.65      630,000.00
    RANCHO PALOS VE  CA   90275          1            02/26/99         00
    5633712                              05           04/01/99          0
    5633712                              O            03/01/29
    0
 
 
    2761924          976/976             F          204,000.00         ZZ
                                         360        203,836.86          1
    419 AVONDALE AVENUE                7.125          1,374.39         61
                                       6.875          1,374.39      335,000.00
    MONTEREY PARK    CA   91754          2            02/09/99         00
    5606427                              05           04/01/99          0
1
 
 
    5606427                              O            03/01/29
    0
 
 
    2761925          976/976             F          386,000.00         ZZ
                                         360        385,727.56          1
    1 AGOSTINO                         7.750          2,765.36         70
                                       7.500          2,765.36      551,511.00
    NEWPORT COAST    CA   92657          1            02/03/99         00
    5606071                              05           04/01/99          0
    5606071                              O            03/01/29
    0
 
 
    2761931          976/976             F          318,000.00         ZZ
                                         360        318,000.00          1
    6420 RIGGS PLACE                   6.750          2,062.55         60
                                       6.500          2,062.55      530,000.00
    LOS ANGELES      CA   90045          1            03/02/99         00
    5541544                              05           05/01/99          0
    5541544                              O            04/01/29
    0
 
 
    2761932          976/976             F          452,600.00         ZZ
                                         360        452,238.05          1
    1425 ST. KITTS LANE                7.125          3,049.26         71
                                       6.875          3,049.26      645,000.00
    FOSTER CITY      CA   94404          2            02/18/99         00
    5622949                              03           04/01/99          0
    5622949                              O            03/01/29
    0
 
 
    2761933          976/976             F          342,900.00         ZZ
                                         360        342,471.69          1
    11631 ALDERIDGE LANE               7.250          2,339.19         76
                                       7.000          2,339.19      452,900.00
    SAN DIEGO        CA   92131          1            02/02/99         00
    5595595                              03           04/01/99          0
    5595595                              O            03/01/29
    0
 
 
    2761935          976/976             F          368,000.00         ZZ
                                         360        367,712.92          1
    7808 VICTORIA AVENUE               7.250          2,510.41         80
                                       7.000          2,510.41      460,000.00
    RIVERSIDE        CA   92506          1            02/25/99         00
    5390192                              05           04/01/99          0
    5390192                              O            03/01/29
    0
 
 
1
 
 
    2761938          976/976             F          280,000.00         ZZ
                                         360        279,585.04          1
    14001 TOLLISON DRIVE               7.250          1,910.10         80
                                       7.000          1,910.10      350,000.00
    BOWIE            MD   20720          2            02/19/99         00
    5531664                              05           04/01/99          0
    5531664                              O            03/01/29
    0
 
 
    2761940          976/976             F          300,000.00         ZZ
                                         360        299,782.86          1
    10041 STONYBROOK DRIVE             7.625          2,123.39         75
                                       7.375          2,123.39      400,000.00
    HUNTINGTON BEAC  CA   92646          2            02/12/99         00
    5633743                              05           04/01/99          0
    5633743                              O            03/01/29
    0
 
 
    2761941          976/976             F          288,000.00         ZZ
                                         360        287,758.04          1
    4952 HELLMAN AVENUE                6.875          1,891.96         75
                                       6.625          1,891.96      386,000.00
    LOS ANGELES      CA   90042          5            02/12/99         00
    5468473                              05           04/01/99          0
    5468473                              O            03/01/29
    0
 
 
    2761942          976/976             F          272,000.00         ZZ
                                         360        271,787.81          1
    7 MORNING GLORY DRIVE              7.250          1,855.52         80
                                       7.000          1,855.52      340,000.00
    LAKE GROVE       NY   11755          1            02/04/99         11
    5237115                              05           04/01/99         30
    5237115                              O            03/01/29
    0
 
 
    2762086          696/G01             F          342,200.00         ZZ
                                         360        342,200.00          1
    8309 WHITTIER BOULEVARD            7.000          2,276.67         80
                                       6.750          2,276.67      428,000.00
    BETHESDA         MD   20817          1            03/16/99         00
    0431250406                           05           05/01/99          0
    32699024                             O            04/01/29
    0
 
 
    2762549          K08/G01             F          194,650.00         ZZ
                                         360        194,650.00          1
    73 SAN SEBASTIAN                   7.625          1,377.72         70
                                       7.375          1,377.72      278,500.00
1
 
 
    R.SANTA MARGARI  CA   92688          1            03/09/99         00
    0411285612                           03           05/01/99          0
    0411285612                           O            04/01/29
    0
 
 
    2762568          K08/G01             F          214,500.00         ZZ
                                         360        214,500.00          1
    39151 STARGAZE DRIVE               7.375          1,481.50         65
                                       7.125          1,481.50      330,000.00
    GUALALA          CA   95445          5            03/10/99         00
    0411332216                           05           05/01/99          0
    0411332216                           O            04/01/29
    0
 
 
    2762570          K08/G01             F          359,000.00         ZZ
                                         360        359,000.00          1
    1247 OLD FORD ROAD                 7.625          2,540.98         56
                                       7.375          2,540.98      645,000.00
    HUNTINGDON VALL  PA   19006          2            03/11/99         00
    0411299704                           05           05/01/99          0
    0411299704                           O            04/01/29
    0
 
 
    2762575          K08/G01             F           74,700.00         ZZ
                                         360         74,700.00          1
    5908 55TH STREET                   7.250            509.59         90
                                       7.000            509.59       83,000.00
    SACRAMENTO       CA   95824          2            03/04/99         04
    0411305246                           05           05/01/99         25
    0411305246                           O            04/01/29
    0
 
 
    2762580          K08/G01             F          403,600.00         ZZ
                                         360        403,600.00          1
    3903 CROWN RIDGE CT.               7.250          2,753.26         70
                                       7.000          2,753.26      580,000.00
    HOUSTON          TX   77059          2            03/11/99         00
    0411310030                           03           05/01/99          0
    0411310030                           O            04/01/29
    0
 
 
    2762583          K08/G01             F          186,600.00         ZZ
                                         360        186,600.00          1
    5800 SOUTHRIDGE GREENS BLVD        7.625          1,320.74         63
                                       7.375          1,320.74      298,000.00
    FORT COLLINS     CO   80525          1            03/16/99         00
    0411327984                           03           05/01/99          0
    0411327984                           O            04/01/29
    0
1
 
 
 
 
    2763044          K08/G01             F          250,000.00         ZZ
                                         240        250,000.00          1
    151 ROCKBURN PASS                  7.125          1,957.05         65
                                       6.875          1,957.05      390,000.00
    WEST MILFORD     NJ   07480          2            03/12/99         00
    0411241987                           05           05/01/99          0
    0411241987                           O            04/01/19
    0
 
 
    2763048          K08/G01             F          270,800.00         ZZ
                                         360        270,800.00          1
    3533 BEAR CREEK CT. (NEWB          7.125          1,824.43         80
                                       6.875          1,824.43      338,500.00
    THOUSAND OAKS    CA   91320          1            03/10/99         00
    0411317597                           05           05/01/99          0
    0411317597                           O            04/01/29
    0
 
 
    2763049          K08/G01             F          380,000.00         ZZ
                                         360        380,000.00          1
    7022 STARSHINE STREET NE           7.250          2,592.27         68
                                       7.000          2,592.27      565,000.00
    ALBUQUERQUE      NM   87111          2            03/12/99         00
    0411297435                           03           05/01/99          0
    0411297435                           O            04/01/29
    0
 
 
    2763052          K08/G01             F          308,000.00         ZZ
                                         360        308,000.00          1
    19 FOX CROSSING                    7.000          2,049.13         59
                                       6.750          2,049.13      525,000.00
    SOUTH HERO       VT   05486          2            03/12/99         00
    0411306376                           05           05/01/99          0
    0411306376                           O            04/01/29
    0
 
 
    2763066          K08/G01             F          147,000.00         ZZ
                                         360        147,000.00          1
    17 SPRUCE STREET                   7.625          1,040.46         67
                                       7.375          1,040.46      221,000.00
    CLARK            NJ   07066          2            03/12/99         00
    0411283401                           05           05/01/99          0
    0411283401                           O            04/01/29
    0
 
 
    2763696          K08/G01             F          180,000.00         ZZ
                                         360        180,000.00          1
1
 
 
    1620 NORTHEAST 186TH STRE          7.625          1,274.03         80
                                       7.375          1,274.03      225,000.00
    SEATTLE          WA   98155          2            03/10/99         00
    0411140320                           05           05/01/99          0
    0411140320                           O            04/01/29
    0
 
 
    2763701          K08/G01             F          103,600.00         ZZ
                                         360        103,600.00          1
    4376 TEETER TOTTER CIRCLE          7.125            697.97         70
                                       6.875            697.97      148,250.00
    COLORADO SPRING  CO   80917          1            03/18/99         00
    0411299134                           03           05/01/99          0
    0411299134                           O            04/01/29
    0
 
 
    2763703          K08/G01             F          204,000.00         ZZ
                                         360        204,000.00          1
    8505 CURT WALTERS COURT N          7.250          1,391.64         80
                                       7.000          1,391.64      255,000.00
    ALBUQUERQUE      NM   87122          1            03/16/99         00
    0411321011                           05           05/01/99          0
    0411321011                           O            04/01/29
    0
 
 
    2763707          K08/G01             F          178,400.00         ZZ
                                         360        178,400.00          1
    5517 GREENBUSH AVE (SHERM          7.250          1,217.00         80
                                       7.000          1,217.00      223,000.00
    LOS ANGELES      CA   91401          1            03/16/99         00
    0411289960                           05           05/01/99          0
    0411289960                           O            04/01/29
    0
 
 
    2763710          K08/G01             F          188,800.00         ZZ
                                         360        188,800.00          1
    15 HOLLOW ROAD                     7.250          1,287.95         80
                                       7.000          1,287.95      236,000.00
    LEBANON TOWNSHI  NJ   08826          1            03/18/99         00
    0411252612                           05           05/01/99          0
    0411252612                           O            04/01/29
    0
 
 
    2764088          696/G01             F          352,000.00         ZZ
                                         360        352,000.00          1
    5029 MACARTHUR BOULEVARD, NW       7.000          2,341.86         77
                                       6.750          2,341.86      460,000.00
    WASHINGTON       DC   20016          1            03/12/99         00
    0431255173                           05           05/01/99          0
1
 
 
    31299018                             O            04/01/29
    0
 
 
    2764092          696/G01             F          421,200.00         ZZ
                                         360        421,200.00          1
    3534 ZULLA ROAD                    7.625          2,981.23         80
                                       7.375          2,981.23      526,500.00
    THE PLAINS       VA   20198          2            03/17/99         00
    0431254887                           05           05/01/99          0
    50199016                             O            04/01/29
    0
 
 
    2764690          K08/G01             F          249,600.00         ZZ
                                         360        249,600.00          1
    457 BEVERLY ISLAND DRIVE           7.500          1,745.24         64
                                       7.250          1,745.24      390,000.00
    WATERFORD        MI   48328          2            03/15/99         00
    0411324510                           05           05/01/99          0
    0411324510                           O            04/01/29
    0
 
 
    2764701          K08/G01             F          135,000.00         ZZ
                                         360        135,000.00          1
    5 BEAVER ROAD                      7.250            920.94         57
                                       7.000            920.94      237,500.00
    TEWKSBURY TOWNS  NJ   07830          5            03/15/99         00
    0411288962                           05           05/01/99          0
    0411288962                           O            04/01/29
    0
 
 
    2764712          K08/G01             F          225,000.00         ZZ
                                         360        225,000.00          1
    2 LOIS LANE                        7.500          1,573.23         65
                                       7.250          1,573.23      350,000.00
    LEWISBORO        NY   10536          5            03/15/99         00
    0411284136                           05           05/01/99          0
    0411284136                           O            04/01/29
    0
 
 
    2764714          K08/G01             F          216,000.00         ZZ
                                         360        216,000.00          1
    4800 SW 139 AVENUE                 7.250          1,473.50         80
                                       7.000          1,473.50      270,000.00
    MIRAMAR          FL   33027          1            03/19/99         00
    0411269855                           05           05/01/99          0
    0411269855                           O            04/01/29
    0
 
 
1
 
 
    2764721          K08/G01             F          650,000.00         ZZ
                                         360        650,000.00          1
    24956 LINCOLN STREET               7.125          4,379.17         69
                                       6.875          4,379.17      950,000.00
    CARMEL           CA   93940          1            03/16/99         00
    0411308364                           05           05/01/99          0
    0411308364                           O            04/01/29
    0
 
 
    2764725          K08/G01             F          161,250.00         T
                                         360        161,250.00          1
    2695 SOUTH KIHEI ROAD              7.250          1,100.01         75
    UNIT # 6401                        7.000          1,100.01      215,000.00
    KIHEI            HI   96753          1            03/11/99         00
    0411337066                           01           05/01/99          0
    0411337066                           O            04/01/29
    0
 
 
    2764743          K08/G01             F           95,000.00         ZZ
                                         360         95,000.00          1
    6656 LEE CREST DRIVE               7.500            664.25         52
                                       7.250            664.25      185,000.00
    WEST BLOOMFIELD  MI   48322          2            03/15/99         00
    0411324635                           05           05/01/99          0
    0411324635                           O            04/01/29
    0
 
 
    2764747          K08/G01             F          216,000.00         ZZ
                                         360        216,000.00          1
    6189 SNOWHILL COURT                7.250          1,473.50         62
                                       7.000          1,473.50      349,000.00
    CENTREVILLE      VA   20120          2            03/15/99         00
    0411325905                           03           05/01/99          0
    0411325905                           O            04/01/29
    0
 
 
    2764748          K08/G01             F          114,000.00         ZZ
                                         360        114,000.00          1
    6605 HILLSIDE DRIVE                7.125            768.04         75
                                       6.875            768.04      152,000.00
    NORTH RICHLAND   TX   76180          1            03/19/99         00
    0411346430                           05           05/01/99          0
    0411346430                           O            04/01/29
    0
 
 
    2765288          K08/G01             F           99,000.00         ZZ
                                         360         99,000.00          1
    10020 DEERING                      7.625            700.72         73
                                       7.375            700.72      137,000.00
1
 
 
    LIVONIA          MI   48150          2            03/17/99         00
    0411331734                           05           05/01/99          0
    0411331374                           O            04/01/29
    0
 
 
    2765293          K08/G01             F          156,800.00         ZZ
                                         360        156,800.00          1
    732 WEST AMERIGE AVENUE            7.250          1,069.65         80
                                       7.000          1,069.65      196,000.00
    FULLERTON        CA   92832          1            03/17/99         00
    0411338700                           05           05/01/99          0
    0411338700                           O            04/01/29
    0
 
 
    2765295          K08/G01             F          110,000.00         ZZ
                                         360        110,000.00          1
    2721 CHICOPEE DRIVE                7.250            750.39         88
                                       7.000            750.39      125,000.00
    DORAVILLE        GA   30360          2            03/17/99         14
    0411335805                           05           05/01/99         25
    0411335805                           O            04/01/29
    0
 
 
    2765322          K08/G01             F          236,250.00         ZZ
                                         360        236,250.00          1
    4062 NAOMI COURT                   7.375          1,631.72         75
                                       7.125          1,631.72      315,000.00
    SAN JOSE         CA   95136          2            03/11/99         00
    0411323280                           05           05/01/99          0
    0411323280                           O            04/01/29
    0
 
 
    2765343          K08/G01             F          108,000.00         ZZ
                                         360        108,000.00          1
    1121 NE 11TH AVE                   7.625            764.42         78
                                       7.375            764.42      140,000.00
    FT. LAUDERDALE   FL   33304          2            03/17/99         00
    0411319098                           05           05/01/99          0
    0411319098                           O            04/01/29
    0
 
 
    2765351          K08/G01             F          545,000.00         ZZ
                                         360        545,000.00          1
    345 MANZANITA AVENUE               7.375          3,764.18         69
                                       7.125          3,764.18      800,000.00
    PALO ALTO        CA   94306          2            03/11/99         00
    0411340573                           05           05/01/99          0
    0411340573                           O            04/01/29
    0
1
 
 
 
 
    2765437          696/G01             F          268,000.00         ZZ
                                         360        268,000.00          1
    6531 JEROME COURT                  7.375          1,851.01         80
                                       7.125          1,851.01      335,000.00
    MANASSAS         VA   20112          1            03/23/99         00
    0431258722                           03           05/01/99          0
    2238170                              O            04/01/29
    0
 
 
    2765439          696/G01             F          272,000.00         ZZ
                                         360        272,000.00          1
    533 7TH STREET, SE                 7.250          1,855.52         80
                                       7.000          1,855.52      340,000.00
    WASHINGTON       DC   20003          2            03/19/99         00
    0431259001                           07           05/01/99          0
    32699040                             O            04/01/29
    0
 
 
    2766211          696/G01             F          127,600.00         ZZ
                                         360        127,600.00          1
    8390 FROSTWOOD DRIVE               7.250            870.46         75
                                       7.000            870.46      172,000.00
    LAUREL           MD   20724          1            03/24/99         00
    0431260009                           07           05/01/99          0
    30199047                             O            04/01/29
    0
 
 
    2766212          696/G01             F          336,000.00         ZZ
                                         360        336,000.00          1
    7217 EVANS MILL ROAD               6.500          2,123.75         80
                                       6.250          2,123.75      423,000.00
    MCLEAN           VA   22101          1            03/24/99         00
    0431260033                           07           05/01/99          0
    21799028                             O            04/01/29
    0
 
 
    2767080          F28/G01             F          351,144.00         ZZ
                                         360        350,376.69          1
    4 CHESTER AV                       7.625          2,485.38         89
                                       7.375          2,485.38      397,500.00
    ANNAPOLIS        MD   21403          2            12/30/98         10
    0431269794                           05           02/01/99         25
    3621002                              O            01/01/29
    0
 
 
    2767083          F28/G01             F          280,000.00         ZZ
                                         360        278,258.44          1
1
 
 
    6228 OAK POINT ESTATE              7.375          1,933.89         80
                                       7.125          1,933.89      350,000.00
    LORAIN           OH   44053          1            07/16/98         00
    0431269844                           05           09/01/98          0
    3919531                              O            08/01/28
    0
 
 
    2767085          F28/G01             F          497,000.00         ZZ
                                         360        497,000.00          1
    7092 SECREST COURT                 7.125          3,348.38         80
                                       6.875          3,348.38      621,300.00
    ARVADA           CO   80007          1            03/12/99         00
    0431269877                           03           05/01/99          0
    4062709                              O            04/01/29
    0
 
 
    2767086          F28/G01             F          455,000.00         ZZ
                                         360        452,992.46          1
    2094 CAMINITO CAPA                 7.625          3,220.46         55
                                       7.375          3,220.46      830,000.00
    LA JOLLA         CA   92037          1            08/25/98         00
    0431275049                           05           10/01/98          0
    4087849                              O            09/01/28
    0
 
 
    2767088          F28/G01             F          404,000.00         ZZ
                                         360        403,700.17          1
    10250 REESE ROAD                   7.500          2,824.83         80
                                       7.250          2,824.83      506,000.00
    INDEPENDENCE TW  MI   48348          1            02/24/99         00
    0431269901                           05           04/01/99          0
    4147031                              O            03/01/29
    0
 
 
    2767090          F28/G01             F          365,700.00         ZZ
                                         360        365,421.73          1
    6621 WHITLEY TERRACE               7.375          2,525.80         60
                                       7.125          2,525.80      610,000.00
    LOS ANGELES      CA   90046          2            02/03/99         00
    0431269927                           05           04/01/99          0
    4319325                              O            03/01/29
    0
 
 
    2767091          F28/G01             F          620,000.00         ZZ
                                         360        620,000.00          1
    2205 LOCUST STREET                 6.875          4,072.96         67
                                       6.625          4,072.96      930,000.00
    SAN DIEGO        CA   92106          1            03/09/99         00
    0431269935                           05           05/01/99          0
1
 
 
    4333811                              O            04/01/29
    0
 
 
    2767094          F28/G01             F          474,500.00         ZZ
                                         360        474,181.62          1
    9917 NORTH 108TH STREET            8.000          3,481.71         74
                                       7.750          3,481.71      643,000.00
    SCOTTSDALE       AZ   85259          2            02/03/99         00
    0431269968                           05           04/01/99          0
    4406181                              O            03/01/29
    0
 
 
    2767095          F28/G01             F          487,500.00         ZZ
                                         360        486,434.76          1
    2718 LAKE HOLLYWOOD DR             7.625          3,450.49         70
                                       7.375          3,450.49      705,000.00
    LOS ANGELES      CA   90068          1            12/04/98         00
    0431275056                           05           02/01/99          0
    4417236                              O            01/01/29
    0
 
 
    2767096          F28/G01             F          350,000.00         ZZ
                                         360        349,352.69          1
    6074 RUNNING SPRINGS RD            7.000          2,328.56         63
                                       6.750          2,328.56      560,000.00
    SAN JOSE         CA   95135          5            01/14/99         00
    0431269976                           05           03/01/99          0
    4450532                              O            02/01/29
    0
 
 
    2767099          F28/G01             F          288,000.00         ZZ
                                         360        287,346.59          1
    2664 WARWICK PLACE                 7.500          2,013.74         80
                                       7.250          2,013.74      360,000.00
    HAYWARD          CA   94542          1            12/21/98         00
    0431270008                           03           02/01/99          0
    4488387                              O            01/01/29
    0
 
 
    2767100          F28/G01             F          339,500.00         ZZ
                                         360        339,500.00          1
    33992 MEADOW MOUNTAIN ROAD         6.875          2,230.27         66
                                       6.625          2,230.27      521,000.00
    EVERGREEN        CO   80439          1            03/05/99         00
    0431270016                           05           05/01/99          0
    4488866                              O            04/01/29
    0
 
 
1
 
 
    2767102          F28/G01             F          458,000.00         ZZ
                                         360        457,209.12          1
    12510 MONTEREY CIRCLE              6.750          2,970.58         77
                                       6.500          2,970.58      600,000.00
    FORT WASHINGTON  MD   20744          2            01/28/99         00
    0431270032                           05           03/01/99          0
    4493821                              O            02/01/29
    0
 
 
    2767103          F28/G01             F          396,000.00         ZZ
                                         360        395,683.32          1
    5208 SAND CHERRY CIRCLE            7.125          2,667.93         80
                                       6.875          2,667.93      495,000.00
    SIOUX FALLS      SD   57108          2            02/25/99         00
    0431270040                           05           04/01/99          0
    4495539                              O            03/01/29
    0
 
 
    2767104          F28/G01             F          311,200.00         ZZ
                                         360        310,938.56          1
    7956 144TH AVE SE                  6.875          2,044.36         77
                                       6.625          2,044.36      409,000.00
    NEW CASTEL       WA   98059          2            02/01/99         00
    0431270057                           05           04/01/99          0
    4495895                              O            03/01/29
    0
 
 
    2767105          F28/G01             F          365,600.00         ZZ
                                         360        365,013.54          1
    3300 MONTE VERDE LN                7.125          2,463.11         80
                                       6.875          2,463.11      457,000.00
    SAN JOSE         CA   95135          1            01/14/99         00
    0431270073                           05           03/01/99          0
    4498568                              O            02/01/29
    0
 
 
    2767108          F28/G01             F          262,500.00         ZZ
                                         360        262,295.23          1
    5560 HORSESHOE                     7.250          1,790.71         70
                                       7.000          1,790.71      375,000.00
    LAPEER           MI   48446          5            02/23/99         00
    0431270099                           05           04/01/99          0
    4509275                              O            03/01/29
    0
 
 
    2767109          F28/G01             F          256,000.00         ZZ
                                         360        255,568.62          1
    1013 CORDOVA DR                    6.875          1,681.74         80
                                       6.625          1,681.74      320,000.00
1
 
 
    CHULA VISTA      CA   91910          1            01/18/99         00
    0431270107                           05           03/01/99          0
    4512657                              O            02/01/29
    0
 
 
    2767110          F28/G01             F          341,000.00         ZZ
                                         360        340,733.99          1
    1954 PINEHURST ROAD                7.250          2,326.22         75
                                       7.000          2,326.22      460,000.00
    LOS ANGELES      CA   90068          2            02/04/99         00
    0431270156                           05           04/01/99          0
    4514412                              O            03/01/29
    0
 
 
    2767111          F28/G01             F          304,000.00         ZZ
                                         360        303,762.85          1
    4155 ROBERT PARKER COFFIN ROAD     7.250          2,073.82         74
                                       7.000          2,073.82      415,000.00
    LONG GROVE       IL   60047          1            02/22/99         00
    0431270164                           05           04/01/99          0
    4514679                              O            03/01/29
    0
 
 
    2767115          F28/G01             F          283,000.00         ZZ
                                         360        282,756.34          1
    26332 IBEZA RD                     6.750          1,835.53         68
                                       6.500          1,835.53      421,000.00
    MISSION VIEJO    CA   92692          2            02/10/99         00
    0431270214                           05           04/01/99          0
    4532802                              O            03/01/29
    0
 
 
    2767117          F28/G01             F          323,000.00         ZZ
                                         360        322,728.64          1
    9730 QUAIL RIDGE RUN               6.875          2,121.88         76
                                       6.625          2,121.88      425,000.00
    BRIGHTON         MI   48116          2            02/19/99         00
    0431270222                           05           04/01/99          0
    4537001                              O            03/01/29
    0
 
 
    2767118          F28/G01             F          620,000.00         ZZ
                                         360        619,516.34          1
    2550 40TH WEST AV                  7.250          4,229.49         64
                                       7.000          4,229.49      980,000.00
    SEATTLE          WA   98199          1            02/23/99         00
    0431275072                           05           04/01/99          0
    4541565                              O            03/01/29
    0
1
 
 
 
 
    2767119          F28/G01             F          336,000.00         T
                                         360        335,724.58          1
    535A EDWARD TEACH WYN              7.000          2,235.42         75
                                       6.750          2,235.42      450,000.00
    BALD HEAD ISLAN  NC   28461          2            03/01/99         00
    0431270149                           05           04/01/99          0
    4543817                              O            03/01/29
    0
 
 
    2767121          F28/G01             F          443,000.00         ZZ
                                         360        442,636.88          1
    11413 MEADE POINTE                 7.000          2,947.29         78
                                       6.750          2,947.29      575,000.00
    SPOTSYLVANIA     VA   22553          2            02/18/99         00
    0431270123                           03           04/01/99          0
    4544526                              O            03/01/29
    0
 
 
    2767125          F28/G01             F          257,000.00         ZZ
                                         360        256,636.06          1
    23130 SE GREEN ACRES RD            7.750          1,841.18         72
                                       7.500          1,841.18      361,000.00
    SANDY            OR   97055          5            01/19/99         00
    0431270255                           05           03/01/99          0
    4552743                              O            02/01/29
    0
 
 
    2767126          F28/G01             F          360,000.00         ZZ
                                         360        359,463.98          1
    5112 CROWN AV                      7.500          2,517.17         80
                                       7.250          2,517.17      455,000.00
    LA CANADA        CA   91011          5            01/25/99         00
    0431270263                           05           03/01/99          0
    4553081                              O            02/01/29
    0
 
 
    2767127          F28/G01             F          249,300.00         ZZ
                                         360        248,909.86          1
    2323 W WILLIAMSBURG CIRCLE         7.250          1,700.67         78
                                       7.000          1,700.67      320,000.00
    WEST JORDAN      UT   84088          2            01/21/99         00
    0431270271                           05           03/01/99          0
    4553147                              O            02/01/29
    0
 
 
    2767130          F28/G01             F          332,000.00         ZZ
                                         360        331,734.50          1
1
 
 
    3171 YELLOWTAIL DR                 7.125          2,236.75         80
                                       6.875          2,236.75      415,000.00
    LOS ALAMITOS     CA   90720          1            02/08/99         00
    0431270305                           05           04/01/99          0
    4558587                              O            03/01/29
    0
 
 
    2767132          F28/G01             F          370,000.00         ZZ
                                         360        369,665.51          1
    9682 WELLINGTON CT                 6.500          2,338.66         68
                                       6.250          2,338.66      551,000.00
    WOODBURY         MN   55125          5            02/08/99         00
    0431270321                           05           04/01/99          0
    4565483                              O            03/01/29
    0
 
 
    2767134          F28/G01             F          468,548.00         ZZ
                                         360        468,241.50          1
    12271 E MARY KATHRINE DR           8.125          3,478.96         80
                                       7.875          3,478.96      585,686.00
    SCOTTSDALE       AZ   85259          1            02/09/99         00
    0431270347                           05           04/01/99          0
    4567067                              O            03/01/29
    0
 
 
    2767135          F28/G01             F          325,000.00         ZZ
                                         360        324,746.47          1
    17 GIBSON ROAD                     7.250          2,217.07         65
                                       7.000          2,217.07      500,000.00
    NEWTON           MA   02650          1            02/26/99         00
    0431270354                           05           04/01/99          0
    4568495                              O            03/01/29
    0
 
 
    2767136          F28/G01             F          480,000.00         ZZ
                                         360        479,285.31          1
    12865 N. SUMMIT RIDGE RD           7.500          3,356.23         69
                                       7.250          3,356.23      700,000.00
    PARKER           CO   80138          1            01/18/99         00
    0431270362                           05           03/01/99          0
    4571511                              O            02/01/29
    0
 
 
    2767138          F28/G01             F          279,000.00         ZZ
                                         360        278,792.94          1
    21258 HETKE DRIVE                  7.500          1,950.80         89
                                       7.250          1,950.80      316,000.00
    FARMINGTON HILL  MI   48335          2            03/01/99         10
    0431270388                           05           04/01/99         25
1
 
 
    4572915                              O            03/01/29
    0
 
 
    2767139          F28/G01             F          302,000.00         ZZ
                                         360        302,000.00          1
    4122 LAUREL ESTATES WAY            6.875          1,983.93         79
                                       6.625          1,983.93      386,000.00
    LAKE WORTH       FL   33467          2            03/08/99         00
    0431270396                           03           05/01/99          0
    4575557                              O            04/01/29
    0
 
 
    2767140          F28/G01             F          530,500.00         ZZ
                                         360        530,500.00          1
    94 EDMUNDS ROAD                    7.375          3,664.03         35
                                       7.125          3,664.03    1,550,000.00
    WELLESLEY        MA   02481          2            03/03/99         00
    0431270404                           05           05/01/99          0
    4577825                              O            04/01/29
    0
 
 
    2767143          F28/G01             F          276,500.00         ZZ
                                         360        276,273.35          1
    5442 N. PAULINA AVENUE             7.000          1,839.57         70
                                       6.750          1,839.57      395,000.00
    CHICAGO          IL   60640          1            02/26/99         00
    0431271014                           05           04/01/99          0
    4579003                              O            03/01/29
    0
 
 
    2767145          F28/G01             F          250,000.00         ZZ
                                         360        249,832.26          1
    1992 BURLESON AV                   8.000          1,834.41         51
                                       7.750          1,834.41      495,000.00
    THOUSAND OAKS    CA   91360          1            02/01/99         00
    0431270651                           05           04/01/99          0
    4579045                              O            03/01/29
    0
 
 
    2767146          F28/G01             F          290,000.00         ZZ
                                         360        289,756.36          1
    2310 EMPIRE GRADE                  6.875          1,905.09         70
                                       6.625          1,905.09      415,000.00
    SANTA CRUZ       CA   95060          2            02/10/99         00
    0431270677                           05           04/01/99          0
    4579260                              O            03/01/29
    0
 
 
1
 
 
    2767148          F28/G01             F          475,000.00         ZZ
                                         360        474,610.64          1
    19491 WOODLANDS DR                 7.000          3,160.19         80
                                       6.750          3,160.19      600,000.00
    HUNTINGTON BEAC  CA   92648          2            02/25/99         00
    0431270693                           05           04/01/99          0
    4579955                              O            03/01/29
    0
 
 
    2767149          F28/G01             F          284,900.00         ZZ
                                         360        284,660.65          1
    11248 CARMEL CREEK RD              6.875          1,871.59         92
                                       6.625          1,871.59      310,000.00
    SAN DIEGO        CA   92130          1            02/22/99         10
    0431270701                           01           04/01/99         30
    4580611                              O            03/01/29
    0
 
 
    2767150          F28/G01             F          328,000.00         ZZ
                                         360        327,744.13          1
    8100 EAST SAN LUIS DRIVE           7.250          2,237.54         80
                                       7.000          2,237.54      410,000.00
    ORANGE           CA   92869          1            02/02/99         00
    0431270719                           05           04/01/99          0
    4581411                              O            03/01/29
    0
 
 
    2767151          F28/G01             F          460,000.00         ZZ
                                         360        460,000.00          1
    13813 68TH AVE WEST                6.750          2,983.55         80
                                       6.500          2,983.55      575,000.00
    EDMONDS          WA   98026          2            03/08/99         00
    0431270743                           05           05/01/99          0
    4581470                              O            04/01/29
    0
 
 
    2767154          F28/G01             F          302,600.00         ZZ
                                         360        302,600.00          1
    1945 WASHINGTON                    7.250          2,064.27         79
                                       7.000          2,064.27      387,000.00
    WILMETTE         IL   60091          2            02/26/99         00
    0431270792                           05           05/01/99          0
    4584100                              O            04/01/29
    0
 
 
    2767155          F28/G01             F          296,000.00         ZZ
                                         360        295,769.09          1
    3615 HOLMES CIRCLE                 7.250          2,019.24         75
                                       7.000          2,019.24      395,000.00
1
 
 
    HACIENDA HEIGHT  CA   91745          2            02/02/99         00
    0431275098                           05           04/01/99          0
    4584340                              O            03/01/29
    0
 
 
    2767159          F28/G01             F          325,000.00         ZZ
                                         360        325,000.00          1
    118 SURREY LANE                    6.500          2,054.22         77
                                       6.250          2,054.22      425,000.00
    LINCOLNSHIRE     IL   60069          1            03/01/99         00
    0431270834                           05           05/01/99          0
    4586537                              O            04/01/29
    0
 
 
    2767160          F28/G01             F          284,000.00         ZZ
                                         360        283,755.48          1
    3108 BROADFIELD RD                 6.750          1,842.02         80
                                       6.500          1,842.02      359,000.00
    CHARLOTTE        NC   28226          1            02/25/99         00
    0431270891                           05           04/01/99          0
    4587396                              O            03/01/29
    0
 
 
    2767164          F28/G01             F          302,900.00         ZZ
                                         360        302,900.00          1
    7001 NW 68TH MANOR                 7.125          2,040.69         69
                                       6.875          2,040.69      445,000.00
    PARKLAND         FL   33067          1            03/02/99         00
    0431271063                           03           05/01/99          0
    4588517                              O            04/01/29
    0
 
 
    2767165          F28/G01             F          264,000.00         ZZ
                                         360        263,799.12          1
    3 CARRIAGE HILL RD                 7.375          1,823.38         80
                                       7.125          1,823.38      330,000.00
    ANDOVER          MA   01810          2            03/01/99         00
    0431271071                           05           04/01/99          0
    4589673                              O            03/01/29
    0
 
 
    2767167          F28/G01             F          420,000.00         ZZ
                                         360        419,638.39          1
    130 FOURTH STREET                  6.750          2,724.11         65
                                       6.500          2,724.11      650,000.00
    SEAL BEACH       CA   90740          5            02/25/99         00
    0431271105                           05           04/01/99          0
    4591198                              O            03/01/29
    0
1
 
 
 
 
    2767168          F28/G01             F          500,000.00         ZZ
                                         360        499,569.50          1
    12707 LONGWATER DRIVE              6.750          3,243.00         45
                                       6.500          3,243.00    1,115,000.00
    BOWIE            MD   20721          2            02/19/99         00
    0431271196                           05           04/01/99          0
    4591949                              O            03/01/29
    0
 
 
    2767169          F28/G01             F          329,000.00         ZZ
                                         360        328,743.35          1
    10055 NW 62ND STREET               7.250          2,244.36         79
                                       7.000          2,244.36      420,000.00
    PARKLAND         FL   33076          2            03/03/99         00
    0431271204                           03           04/01/99          0
    4593010                              O            03/01/29
    0
 
 
    2767170          F28/G01             F          250,000.00         ZZ
                                         360        250,000.00          1
    6 SUSAN COURT                      7.250          1,705.44         73
                                       7.000          1,705.44      345,000.00
    NORWALK          CT   06851          5            03/02/99         00
    0431271220                           05           05/01/99          0
    4593376                              O            04/01/29
    0
 
 
    2767172          F28/G01             F          400,000.00         ZZ
                                         360        399,655.61          1
    47 OLD EAST STREET                 6.750          2,594.39         80
                                       6.500          2,594.39      500,000.00
    CARLISLE         MA   01741          1            02/25/99         00
    0431271410                           05           04/01/99          0
    4596213                              O            03/01/29
    0
 
 
    2767173          F28/G01             F          316,000.00         ZZ
                                         360        315,409.17          1
    405 HILLCREST DRIVE                7.250          2,155.68         72
                                       7.000          2,155.68      440,000.00
    ENCINITAS        CA   92024          2            02/11/99         00
    0431271428                           05           04/01/99          0
    4596280                              O            03/01/29
    0
 
 
    2767174          F28/G01             F          304,000.00         ZZ
                                         360        304,000.00          1
1
 
 
    75 SEAVERNS AVENUE                 6.500          1,921.49         79
                                       6.250          1,921.49      388,000.00
    JAMAICA PLAIN    MA   02130          1            03/12/99         00
    0431271436                           05           05/01/99          0
    4597353                              O            04/01/29
    0
 
 
    2767175          F28/G01             F          340,000.00         ZZ
                                         360        339,741.28          1
    1 SANTA LUCIA                      7.375          2,348.30         66
                                       7.125          2,348.30      520,000.00
    DANA POINT       CA   92629          5            02/11/99         00
    0431271444                           03           04/01/99          0
    4597486                              O            03/01/29
    0
 
 
    2767176          F28/G01             F          296,000.00         ZZ
                                         360        295,745.15          1
    7514 MASONBORO SOUND RD            6.750          1,919.85         80
                                       6.500          1,919.85      370,000.00
    WILMINGTON       NC   28409          2            03/01/99         00
    0431271469                           03           04/01/99          0
    4598351                              O            03/01/29
    0
 
 
    2767177          F28/G01             F          296,000.00         ZZ
                                         360        295,763.29          1
    160 BUTTERNUT LN                   7.125          1,994.21         74
                                       6.875          1,994.21      401,000.00
    STRATFORD        CT   06614          1            02/26/99         00
    0431271485                           05           04/01/99          0
    4598575                              O            03/01/29
    0
 
 
    2767179          F28/G01             F          350,000.00         ZZ
                                         360        349,726.96          1
    4474 DEANWOOD DR                   7.250          2,387.62         78
                                       7.000          2,387.62      450,000.00
    WOODLAND HILLS   CA   91364          1            02/04/99         00
    0431271501                           05           04/01/99          0
    4599474                              O            03/01/29
    0
 
 
    2767184          F28/G01             F          291,950.00         ZZ
                                         360        291,722.26          1
    3119 CUNNINGHAM LAKE COURT         7.250          1,991.61         80
                                       7.000          1,991.61      364,950.00
    SAN JOSE         CA   92692          1            02/15/99         00
    0431275114                           05           04/01/99          0
1
 
 
    4604652                              O            03/01/29
    0
 
 
    2767185          F28/G01             F          396,000.00         ZZ
                                         360        396,000.00          1
    2049 HAVERFORD DRIVE               6.875          2,601.44         80
                                       6.625          2,601.44      495,000.00
    CROWNSVILLE      MD   21032          2            03/04/99         00
    0431269448                           03           05/01/99          0
    4606327                              O            04/01/29
    0
 
 
    2767187          F28/G01             F          312,231.00         ZZ
                                         360        311,987.43          1
    1449 ASCENSION DRIVE               7.250          2,129.97         59
                                       7.000          2,129.97      530,000.00
    SAN MATEO        CA   94402          2            02/19/99         00
    0431269414                           05           04/01/99          0
    4607269                              O            03/01/29
    0
 
 
    2767189          F28/G01             F          269,960.00         ZZ
                                         360        269,727.57          1
    1553 MEADOW LARK LANE              6.750          1,750.96         80
                                       6.500          1,750.96      337,450.00
    GOLDEN           CO   80403          1            02/26/99         00
    0431269513                           03           04/01/99          0
    4607871                              O            03/01/29
    0
 
 
    2767190          F28/G01             F          474,000.00         ZZ
                                         360        473,601.79          1
    209 31ST ST                        6.875          3,113.84         56
                                       6.625          3,113.84      850,000.00
    HERMOSA BEACH    CA   90254          2            02/12/99         00
    0431271741                           05           04/01/99          0
    4609008                              O            03/01/29
    0
 
 
    2767192          F28/G01             F          500,000.00         ZZ
                                         360        500,000.00          1
    7017 FAWM TRAIL COURT              6.875          3,284.64         50
                                       6.625          3,284.64    1,000,000.00
    BETHESDA         MD   20817          5            03/10/99         00
    0431269463                           03           05/01/99          0
    4609661                              O            04/01/29
    0
 
 
1
 
 
    2767193          F28/G01             F          286,000.00         ZZ
                                         360        285,759.72          1
    7704 ST GEORGES PLACE              6.875          1,878.82         80
                                       6.625          1,878.82      360,000.00
    IJAMSVILLE       MD   21754          2            02/19/99         00
    0431271360                           03           04/01/99          0
    4609869                              O            03/01/29
    0
 
 
    2767194          F28/G01             F          369,600.00         ZZ
                                         360        369,297.04          1
    5224 N. WAYNE AV                   7.000          2,458.96         80
                                       6.750          2,458.96      462,000.00
    CHICAGO          IL   60640          1            03/01/99         00
    0431271774                           05           04/01/99          0
    4610004                              O            03/01/29
    0
 
 
    2767195          F28/G01             F          251,900.00         ZZ
                                         360        251,688.37          1
    8420 BELLS RIDGE TERRACE           6.875          1,654.80         70
                                       6.625          1,654.80      360,000.00
    POTOMAC          MD   20854          2            02/25/99         00
    0431271790                           05           04/01/99          0
    4610451                              O            03/01/29
    0
 
 
    2767199          F28/G01             F          585,000.00         ZZ
                                         360        584,543.64          1
    1231 LORAIN RD                     7.250          3,990.73         80
                                       7.000          3,990.73      735,000.00
    SAN MARINO       CA   91108          2            02/22/99         00
    0431271899                           05           04/01/99          0
    4611630                              O            03/01/29
    0
 
 
    2767200          F28/G01             F          296,000.00         ZZ
                                         360        296,000.00          1
    20625 VIA VERONICA                 7.250          2,019.24         69
                                       7.000          2,019.24      430,000.00
    YORBA LINDA      CA   92887          2            03/02/99         00
    0431271907                           03           05/01/99          0
    4612051                              O            04/01/29
    0
 
 
    2767201          F28/G01             F          293,000.00         ZZ
                                         360        292,765.69          1
    12814 DOE LN                       7.125          1,974.00         76
                                       6.875          1,974.00      390,000.00
1
 
 
    GAITHERSBURG     MD   20878          2            03/03/99         00
    0431271915                           05           04/01/99          0
    4612085                              O            03/01/29
    0
 
 
    2767204          F28/G01             F          268,000.00         ZZ
                                         360        267,774.85          1
    2224 GLENCOE AV                    6.875          1,760.57         88
                                       6.625          1,760.57      305,000.00
    LOS ANGELES      CA   90291          2            02/23/99         14
    0431271956                           03           04/01/99         25
    4613107                              O            03/01/29
    0
 
 
    2767208          F28/G01             F          495,000.00         ZZ
                                         240        495,000.00          1
    8 DEERFIELD DR                     6.875          3,800.68         75
                                       6.625          3,800.68      660,000.00
    MEDFIELD         MA   02052          2            03/10/99         00
    0431275130                           05           05/01/99          0
    4615534                              O            04/01/19
    0
 
 
    2767209          F28/G01             F          649,999.00         ZZ
                                         360        649,999.00          1
    355 MEADOW CREEK DR                7.125          4,379.17         60
                                       6.875          4,379.17    1,100,000.00
    ANN ARBOR        MI   48105          2            03/12/99         00
    0431272236                           05           05/01/99          0
    4616195                              O            04/01/29
    0
 
 
    2767210          F28/G01             F          312,000.00         ZZ
                                         360        312,000.00          1
    25899 DRESCHFIELD                  7.250          2,128.39         80
                                       7.000          2,128.39      390,000.00
    GROSSE ILE       MI   48138          2            03/09/99         00
    0431272020                           05           05/01/99          0
    4617268                              O            04/01/29
    0
 
 
    2767212          F28/G01             F          278,000.00         ZZ
                                         360        278,000.00          1
    N479 WESTSHORE DR                  7.000          1,849.54         68
                                       6.750          1,849.54      410,000.00
    CEDAR GROVE      WI   53013          2            03/03/99         00
    0431272038                           05           05/01/99          0
    4618447                              O            04/01/29
    0
1
 
 
 
 
    2767213          F28/G01             F          400,000.00         ZZ
                                         360        399,672.12          1
    9610 N. LAKE DR                    7.000          2,661.21         77
                                       6.750          2,661.21      520,000.00
    BAYSIDE          WI   53217          2            02/24/99         00
    0431271972                           05           04/01/99          0
    4620045                              O            03/01/29
    0
 
 
    2767217          F28/G01             F          256,500.00         ZZ
                                         360        256,500.00          1
    8071 YORKVILLE LN                  7.250          1,749.78         90
                                       7.000          1,749.78      285,000.00
    RICHLAND         MI   49083          1            03/03/99         10
    0431272087                           05           05/01/99         25
    4621151                              O            04/01/29
    0
 
 
    2767218          F28/G01             F          278,250.00         ZZ
                                         360        278,032.93          1
    8170 HIGH POINTE TRAIL             7.250          1,898.16         75
                                       7.000          1,898.16      371,000.00
    WHITE LAKE TWP   MI   48386          2            02/25/99         00
    0431272095                           01           04/01/99          0
    4623157                              O            03/01/29
    0
 
 
    2767219          F28/G01             F          308,000.00         ZZ
                                         360        308,000.00          1
    5066 CASCADE DR                    6.750          1,997.68         78
                                       6.500          1,997.68      397,000.00
    POWELL           OH   43065          2            03/05/99         00
    0431272368                           05           05/01/99          0
    4623924                              O            04/01/29
    0
 
 
    2767221          F28/G01             F          280,000.00         ZZ
                                         360        280,000.00          1
    80 SHORE ROAD                      7.375          1,933.89         66
                                       7.125          1,933.89      425,000.00
    COLD SPRINGS     NY   11724          1            03/05/99         00
    0431275148                           05           05/01/99          0
    4625865                              O            04/01/29
    0
 
 
    2767222          F28/G01             F          263,500.00         ZZ
                                         360        263,299.50          1
1
 
 
    22718 DRAILLE DR                   7.375          1,819.93         72
                                       7.125          1,819.93      370,000.00
    TORRANCE         CA   90505          2            02/23/99         00
    0431272392                           05           04/01/99          0
    4626269                              O            03/01/29
    0
 
 
    2767223          F28/G01             F          382,500.00         ZZ
                                         360        382,500.00          1
    5211 SUE DR                        7.500          2,674.50         90
                                       7.250          2,674.50      425,000.00
    CARMEL           IN   46032          1            03/12/99         10
    0431272400                           03           05/01/99         25
    4627697                              O            04/01/29
    0
 
 
    2767225          F28/G01             F          401,500.00         ZZ
                                         360        401,500.00          1
    127 YORK RD                        6.875          2,637.57         75
                                       6.625          2,637.57      542,000.00
    MANSFIELD        MA   02048          2            03/08/99         00
    0431272244                           05           05/01/99          0
    4634782                              O            04/01/29
    0
 
 
    2767227          F28/G01             F          248,475.00         ZZ
                                         360        248,274.32          1
    129 ALLENHURST                     7.250          1,695.04         95
                                       7.000          1,695.04      261,568.00
    ROYAL OAK        MI   48067          1            03/05/99         14
    0431272277                           07           04/01/99         30
    4636888                              O            03/01/29
    0
 
 
    2767229          F28/G01             F          298,500.00         ZZ
                                         360        298,500.00          1
    10763 E GREENWAY RD                6.875          1,960.93         80
                                       6.625          1,960.93      373,177.00
    SCOTTSDALE       AZ   85259          1            03/08/99         00
    0431272012                           03           05/01/99          0
    4639056                              O            04/01/29
    0
 
 
    2767232          F28/G01             F          257,500.00         ZZ
                                         360        257,304.07          1
    1163 CLEVELAND STREET              7.375          1,778.49         72
                                       7.125          1,778.49      360,000.00
    REDWOOD CITY     CA   94061          5            02/23/99         00
    0431275163                           05           04/01/99          0
1
 
 
    4641520                              O            03/01/29
    0
 
 
    2767233          F28/G01             F          283,800.00         ZZ
                                         360        283,800.00          1
    2019 PONDWAY                       7.625          2,008.72         75
                                       7.375          2,008.72      378,500.00
    TROY             MI   48098          5            03/08/99         00
    0431272301                           05           05/01/99          0
    4641597                              O            04/01/29
    0
 
 
    2767234          F28/G01             F          340,000.00         ZZ
                                         360        339,728.10          1
    96 WHITTLESEY RD                   7.125          2,290.65         90
                                       6.875          2,290.65      380,000.00
    WOODBURY         CT   06798          1            03/05/99         10
    0431272335                           05           04/01/99         25
    4658759                              O            03/01/29
    0
 
 
    2767410          696/G01             F          298,850.00         ZZ
                                         360        298,850.00          1
    9761 PLASKETT FOREST LANE          7.250          2,038.68         90
                                       7.000          2,038.68      333,000.00
    LORTON           VA   22079          1            03/25/99         12
    0431264159                           03           05/01/99         25
    30199067                             O            04/01/29
    0
 
 
    2767413          696/G01             F          283,200.00         ZZ
                                         360        283,200.00          1
    6130 31ST STREET, NW               7.000          1,884.14         80
                                       6.750          1,884.14      355,000.00
    WASHINGTON       DC   20015          1            03/25/99         00
    0431264019                           05           05/01/99          0
    31299069                             O            04/01/29
    0
 
 
    2767416          696/G01             F          460,000.00         ZZ
                                         360        460,000.00          1
    7829 OLD DOMINION DRIVE            7.375          3,177.11         80
                                       7.125          3,177.11      575,000.00
    MCLEAN           VA   22102          2            03/22/99         00
    0431264217                           05           05/01/99          0
    21599013                             O            04/01/29
    0
 
 
1
 
 
    2767422          K08/G01             F           83,500.00         ZZ
                                         360         83,500.00          1
    10410 11TH AVENUE COURT SOUTH      7.375            576.71         70
                                       7.125            576.71      120,000.00
    TACOMA           WA   98444          2            03/11/99         00
    0411314032                           03           05/01/99          0
    0411314032                           O            04/01/29
    0
 
 
    2767525          K08/G01             F          230,000.00         ZZ
                                         360        230,000.00          1
    2815 BRIGHT LANE                   7.375          1,588.55         62
                                       7.125          1,588.55      375,000.00
    LOS ANGELES      CA   90039          2            03/16/99         00
    0411317456                           05           05/01/99          0
    0411317456                           O            04/01/29
    0
 
 
    2767551          K08/G01             F          346,500.00         ZZ
                                         360        346,500.00          1
    1517 CLEAR BROOK DRIVE             7.000          2,305.27         77
                                       6.750          2,305.27      450,000.00
    DAYTON           OH   45440          2            03/19/99         00
    0411349509                           05           05/01/99          0
    0411349509                           O            04/01/29
    0
 
 
    2767557          K08/G01             F           90,000.00         ZZ
                                         360         90,000.00          1
    1433 WEST DAKOTA AVENUE            7.000            598.77         75
                                       6.750            598.77      120,000.00
    DENVER           CO   80223          2            03/19/99         00
    0411265903                           05           05/01/99          0
    0411265903                           O            04/01/29
    0
 
 
    2767945          K08/G01             F          268,800.00         ZZ
                                         360        268,800.00          1
    1450 TURQUOISE DRIVE               7.000          1,788.33         80
                                       6.750          1,788.33      336,000.00
    CARLSBAD         CA   92009          2            03/18/99         00
    0411341423                           03           05/01/99          0
    0411341423                           O            04/01/29
    0
 
 
    2768060          696/G01             F          405,000.00         ZZ
                                         360        405,000.00          1
    3911 IVY TERRACE COURT, NW         7.125          2,728.56         75
                                       6.875          2,728.56      540,000.00
1
 
 
    WASHINGTON       DC   20007          1            03/26/99         00
    0431264373                           07           05/01/99          0
    23799031                             O            04/01/29
    0
 
 
    2768061          696/G01             F          230,000.00         ZZ
                                         360        230,000.00          1
    4801 FORGE ACRE DRIVE              7.375          1,588.55         80
                                       7.125          1,588.55      288,000.00
    PERRY HALL       MD   21128          1            03/26/99         00
    0431264092                           03           05/01/99          0
    30199054                             O            04/01/29
    0
 
 
    2768062          696/G01             F          292,000.00         ZZ
                                         360        292,000.00          1
    7261 MCLEAN COMMONS LANE           7.500          2,041.71         80
                                       7.250          2,041.71      368,000.00
    MCLEAN           VA   22101          1            03/26/99         00
    0431264282                           09           05/01/99          0
    21599028                             O            04/01/29
    0
 
 
    2768063          696/G01             F          132,700.00         ZZ
                                         360        132,700.00          1
    13350 BRANDYWINE ROAD              7.125            894.02         80
                                       6.875            894.02      166,000.00
    BRANDYWINE       MD   20613          1            03/26/99         00
    0431264365                           05           05/01/99          0
    20299006                             O            04/01/29
    0
 
 
    2768065          696/G01             F          280,000.00         ZZ
                                         360        280,000.00          1
    9810 HILLRIDGE DRIVE               7.625          1,981.82         74
                                       7.375          1,981.82      381,000.00
    KENSINGTON       MD   20895          2            03/24/99         00
    0431265792                           05           05/01/99          0
    31199027                             O            04/01/29
    0
 
 
    2768802          696/G01             F          208,400.00         BB
                                         360        208,400.00          1
    6850 SNOWDEN COURT                 7.375          1,439.37         78
                                       7.125          1,439.37      268,000.00
    FREDERICK        MD   21703          1            03/29/99         00
    0431265701                           03           05/01/99          0
    31999030                             O            04/01/29
    0
1
 
 
 
 
    2768803          696/G01             F          180,000.00         ZZ
                                         360        180,000.00          1
    59 WEST DEL RAY AVENUE             7.375          1,243.22         80
                                       7.125          1,243.22      225,000.00
    ALEXANDRIA       VA   22301          1            03/30/99         00
    0431265453                           07           05/01/99          0
    70099023                             O            04/01/29
    0
 
 
    2768847          K08/G01             F          165,000.00         ZZ
                                         360        165,000.00          1
    1905 EAST CARRIAGE LANE            7.125          1,111.64         64
                                       6.875          1,111.64      260,000.00
    CRETE            IL   60417          5            03/22/99         00
    0411318876                           05           05/01/99          0
    0411318876                           O            04/01/29
    0
 
 
    2768853          K08/G01             F          516,000.00         ZZ
                                         360        516,000.00          1
    3481 WONDER VIEW PLACE             7.375          3,563.88         80
                                       7.125          3,563.88      645,000.00
    LOS ANGELES      CA   90068          1            03/24/99         00
    0411349699                           05           05/01/99          0
    0411349699                           O            04/01/29
    0
 
 
    2768874          K08/G01             F          180,000.00         ZZ
                                         360        180,000.00          1
    3726 WEST 173RD STREET             7.125          1,212.69         80
                                       6.875          1,212.69      225,000.00
    TORRANCE         CA   90504          2            03/17/99         00
    0411316466                           05           05/01/99          0
    0411316466                           O            04/01/29
    0
 
 
    2769646          K08/G01             F          528,000.00         ZZ
                                         360        528,000.00          1
    590 MONTORI COURT                  7.625          3,737.15         80
                                       7.375          3,737.15      660,000.00
    PLEASANTON       CA   94566          1            03/25/99         00
    0411345093                           03           05/01/99          0
    0411345093                           O            04/01/29
    0
 
 
    2769655          K08/G01             F          260,000.00         ZZ
                                         360        260,000.00          1
1
 
 
    18525 ENTRADA COURT                7.250          1,773.66         80
                                       7.000          1,773.66      325,000.00
    LOS ANGELES      CA   91326          1            03/24/99         00
    0411341761                           05           05/01/99          0
    0411341761                           O            04/01/29
    0
 
 
    2769656          K08/G01             F          134,800.00         ZZ
                                         360        134,800.00          1
    22612 LINDEN STREET                7.000            896.83         80
                                       6.750            896.83      170,000.00
    HAYWARD          CA   94541          2            03/18/99         00
    0411303217                           05           05/01/99          0
    0411303217                           O            04/01/29
    0
 
 
    2769690          K08/G01             F          729,000.00         ZZ
                                         360        729,000.00          1
    264 OAKWOODS ROAD                  7.500          5,097.27         54
                                       7.250          5,097.27    1,375,000.00
    WILKESBORO       NC   28697          2            03/24/99         00
    0411316946                           05           05/01/99          0
    0411316946                           O            04/01/29
    0
 
 
    2769694          K08/G01             F        1,600,000.00         ZZ
                                         360      1,600,000.00          1
    21 OLD WOODS ROAD                  7.750         11,462.60         44
                                       7.500         11,462.60    3,700,000.00
    SADDLE RIVER     NJ   07458          2            03/23/99         00
    0411333651                           05           05/01/99          0
    0411333651                           O            04/01/29
    0
 
 
    2769715          K08/G01             F          592,000.00         ZZ
                                         360        592,000.00          1
    19740 ELISA AVENUE                 7.375          4,088.80         80
                                       7.125          4,088.80      740,000.00
    SARATOGA         CA   95070          1            03/24/99         00
    0411356660                           05           05/01/99          0
    0411356660                           O            04/01/29
    0
 
 
    2769744          696/G01             F          352,000.00         ZZ
                                         360        352,000.00          1
    1005 NEW HAMPSHIRE AVENUE, NW      6.750          2,283.07         80
                                       6.500          2,283.07      440,000.00
    WASHINGTON       DC   20037          1            03/31/99         00
    0431268994                           07           05/01/99          0
1
 
 
    24699033                             O            04/01/29
    0
 
 
    2770356          K08/G01             F          450,000.00         ZZ
                                         360        450,000.00          1
    161 CANTERBURY                     6.875          2,956.18         57
                                       6.625          2,956.18      800,000.00
    BLOOMFIELD HILL  MI   48304          2            03/25/99         00
    0411300296                           05           05/01/99          0
    0411300296                           O            04/01/29
    0
 
 
    2770364          K08/G01             F          152,000.00         ZZ
                                         360        152,000.00          1
    22107 HART STREET                  7.375          1,049.83         80
    (CANOGA PARK)                      7.125          1,049.83      190,000.00
    LOS ANGELES      CA   91303          2            03/24/99         00
    0411345432                           05           05/01/99          0
    0411345432                           O            04/01/29
    0
 
 
    2770382          K08/G01             F          264,000.00         ZZ
                                         360        264,000.00          1
    18116 BROMLEY STREET (TARZANIA     7.500          1,845.93         80
    AREA)                              7.250          1,845.93      330,000.00
    LOS ANGELES      CA   91356          2            03/24/99         00
    0411336308                           05           05/01/99          0
    0411336308                           O            04/01/29
    0
 
 
    2770416          K08/G01             F          269,750.00         ZZ
                                         360        269,750.00          1
    145 NAVIGATOR DRIVE                7.500          1,886.13         66
                                       7.250          1,886.13      411,000.00
    SCOTTS VALLEY    CA   95066          1            03/19/99         00
    0411328032                           05           05/01/99          0
    0411328032                           O            04/01/29
    0
 
 
    2770427          K08/G01             F          270,000.00         ZZ
                                         360        270,000.00          1
    750 NORTH STANLEY AVENUE           7.500          1,887.88         75
                                       7.250          1,887.88      360,000.00
    LOS ANGELES      CA   90046          2            03/19/99         00
    0411323504                           05           05/01/99          0
    0411323504                           O            04/01/29
    0
 
 
1
 
 
    2770435          K08/G01             F          179,600.00         ZZ
                                         360        179,600.00          1
    2880 LINDSAY LANE                  7.250          1,225.19         80
                                       7.000          1,225.19      224,500.00
    SOQUEL           CA   95073          1            03/23/99         00
    0411341589                           09           05/01/99          0
    0411341589                           O            04/01/29
    0
 
 
    2770518          696/G01             F          258,950.00         ZZ
                                         360        258,950.00          1
    7863 CRANFORD FARM CIRCLE          7.250          1,766.50         80
                                       7.000          1,766.50      325,000.00
    LORTON           VA   22079          1            03/31/99         00
    0431269281                           03           05/01/99          0
    30199059                             O            04/01/29
    0
 
 
    2770522          696/G01             F          336,000.00         ZZ
                                         360        336,000.00          1
    9317 HALLSTON COURT                6.375          2,096.20         79
                                       6.125          2,096.20      427,000.00
    FAIRFAX STATION  VA   22039          1            03/30/99         00
    0431269406                           03           05/01/99          0
    21799016                             O            04/01/29
    0
 
 
    2770525          696/G01             F          307,900.00         ZZ
                                         360        307,900.00          1
    1669 HUNTING CREEK DRIVE           6.750          1,997.03         75
                                       6.500          1,997.03      416,000.00
    ALEXANDRIA       VA   22314          1            03/30/99         00
    0431269612                           03           05/01/99          0
    2338212                              O            04/01/29
    0
 
 
    2771157          K08/G01             F          192,000.00         ZZ
                                         360        192,000.00          1
    1605 PEPPER DRIVE                  7.375          1,326.10         80
                                       7.125          1,326.10      240,000.00
    PASADENA         CA   91104          2            03/24/99         00
    0411320138                           05           05/01/99          0
    0411320138                           O            04/01/29
    0
 
 
    2771233          K08/G01             F          215,200.00         ZZ
                                         360        215,200.00          1
    815 ALABAMA STREET                 7.000          1,431.73         80
                                       6.750          1,431.73      269,000.00
1
 
 
    HUNTINGTON BEAC  CA   92648          1            03/29/99         00
    0411358138                           05           05/01/99          0
    0411358138                           O            04/01/29
    0
 
 
    2771257          K08/G01             F          184,000.00         ZZ
                                         360        184,000.00          1
    809 NORTH ROSE STREET              7.500          1,286.55         80
                                       7.250          1,286.55      230,000.00
    BURBANK          CA   91505          1            03/11/99         00
    0411323991                           05           05/01/99          0
    0411323991                           O            04/01/29
    0
 
 
    2771261          K08/G01             F          120,000.00         ZZ
                                         360        120,000.00          1
    1790 COOK STREET                   7.375            828.81         69
                                       7.125            828.81      174,000.00
    CORONA           CA   91720          2            03/25/99         00
    0411342066                           05           05/01/99          0
    0411342066                           O            04/01/29
    0
 
 
    2771393          696/G01             F          383,400.00         ZZ
                                         360        383,400.00          1
    35653 MILLVILLE ROAD               7.000          2,550.77         78
                                       6.750          2,550.77      495,000.00
    MIDDLEBURG       VA   20117          2            03/29/99         00
    0431271634                           05           05/01/99          0
    5018250                              O            04/01/29
    0
 
 
    2771822          K08/G01             F          211,500.00         ZZ
                                         360        211,500.00          1
    88 MIRAMONTE DRIVE                 7.750          1,515.21         75
                                       7.500          1,515.21      282,000.00
    MORAGA           CA   94556          1            03/23/99         00
    0411330673                           01           05/01/99          0
    0411330673                           O            04/01/29
    0
 
 
    2771827          K08/G01             F          232,000.00         ZZ
                                         360        232,000.00          1
    593 PARADISE COURT                 7.250          1,582.65         80
                                       7.000          1,582.65      290,000.00
    FAIRFIELD        CA   94533          1            03/30/99         00
    0411371503                           05           05/01/99          0
    0411371503                           O            04/01/29
    0
1
 
 
 
 
    2771888          696/G01             F          247,900.00         ZZ
                                         360        247,900.00          1
    1504 CAMERON STREET                6.875          1,628.53         80
                                       6.625          1,628.53      310,000.00
    ALEXANDRIA       VA   22314          1            04/01/99         00
    0431273267                           05           05/01/99          0
    24699042                             O            04/01/29
    0
 
 
    2771889          696/G01             F          479,200.00         ZZ
                                         360        479,200.00          1
    914 DOUGLASS DRIVE                 7.250          3,268.99         80
                                       7.000          3,268.99      599,000.00
    MCLEAN           VA   22101          1            04/01/99         00
    0431273358                           05           05/01/99          0
    24499030                             O            04/01/29
    0
 
 
    2771890          696/G01             F          335,200.00         ZZ
                                         360        335,200.00          1
    12707 RIVER ROAD                   7.000          2,230.09         80
                                       6.750          2,230.09      420,000.00
    POTOMAC          MD   20854          1            03/30/99         00
    0431273374                           05           05/01/99          0
    32299039                             O            04/01/29
    0
 
 
    2771891          696/G01             F          345,000.00         ZZ
                                         360        345,000.00          1
    4214 DUNNEL LANE                   7.500          2,412.29         70
                                       7.250          2,412.29      495,000.00
    KENSINGTON       MD   20895          1            04/01/99         00
    0431273325                           05           05/01/99          0
    32799004                             O            04/01/29
    0
 
 
    2771892          696/G01             F          345,000.00         ZZ
                                         360        345,000.00          1
    6307 KNOLLS POND LANE              6.500          2,180.63         75
                                       6.250          2,180.63      462,000.00
    FAIRFAX STATION  VA   22039          1            03/31/99         00
    0431273481                           03           05/01/99          0
    21799023                             O            04/01/29
    0
 
 
    2771893          696/G01             F          296,300.00         ZZ
                                         360        296,300.00          1
1
 
 
    40828 BROWNS LANE                  7.625          2,097.19         76
                                       7.375          2,097.19      390,000.00
    WATERFORD        VA   20197          4            04/02/99         00
    0431274711                           05           05/01/99          0
    10099009                             O            04/01/29
    0
 
   TOTAL NUMBER OF LOANS   :      1,646
 
   TOTAL ORIGINAL BALANCE  :   526,181,927.54
 
   TOTAL PRINCIPAL BALANCE :   525,765,797.88
 
   TOTAL ORIGINAL P+I      :     3,554,166.70
 
   TOTAL CURRENT P+I       :     3,554,166.70
 
 
                             ***************************
                             *      END OF REPORT      *
                             ***************************




                        F-1

1
 
  RUN ON     : 04/27/99           RFC DISCLOSURE SYSTEM       RFFSDFIX-01
  AT         : 13.21.11           FIXED PASSTHRU REPORT       AMORTIZED BALANCE
  SERIES     : RFMSI 1999-S9                                  CUTOFF : 04/01/99
  POOL       : 0004369
             :
             :
  POOL STATUS: F
 
    RFC LOAN NUMBER                      SUB SERV FEE
    PRINCIPAL BALANCE                    MSTR SERV FEE
    CURR NOTE RATE                       ALL EXP
    RFC NET RATE                         MISC EXP
    NET MTG RATE(INVSTR RATE)            SPREAD
    POST STRIP RATE                      STRIP
  -------------------------------------------------------------------
 
      1669859                              .2500
      247,197.45                           .0800
            7.8750                         .0000
            7.6250                         .1500
            7.3950                         .0000
            6.6000                         .7950
 
      1734764                              .2500
      426,551.70                           .0800
            7.7500                         .0000
            7.5000                         .1500
            7.2700                         .0000
            6.6000                         .6700
 
      1811244                              .2500
      266,645.10                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1816839                              .2500
      315,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1841875                              .2500
      430,336.07                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1842626                              .2500
      536,138.59                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
1
 
 
 
      1847683                              .2500
      593,467.56                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1847804                              .2500
      245,544.82                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1848508                              .2500
      255,213.60                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1852085                              .2500
      479,392.75                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1852249                              .2500
      271,619.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1852855                              .2500
      283,902.30                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1854245                              .2500
      291,766.49                           .0800
            7.1250                         .0000
            6.8750                         .1500
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1
 
 
 
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1
 
 
 
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1
 
 
 
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1
 
 
 
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1
 
 
 
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1
 
 
 
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1
 
 
 
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1
 
 
 
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1
 
 
 
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1
 
 
 
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1
 
 
 
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1
 
 
 
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1
 
 
 
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1
 
 
 
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1
 
 
 
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1
 
 
 
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1
 
 
 
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      1886529                              .2500
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      1886544                              .2500
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      1886571                              .2500
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      1886598                              .2500
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      1886631                              .2500
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      1886647                              .2500
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1
 
 
 
      1886649                              .2500
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      1886695                              .2500
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      1886701                              .2500
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      1886811                              .2500
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      1886992                              .2500
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      1887086                              .2500
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      1887093                              .2500
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      1887109                              .2500
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1
 
 
 
      1887145                              .2500
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      1887283                              .2500
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      1887314                              .2500
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      1887337                              .2500
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      1887380                              .2500
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      1887391                              .2500
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      1887411                              .2500
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      1887441                              .2500
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1
 
 
 
      1887448                              .2500
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      1887483                              .2500
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      1887487                              .2500
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      1887491                              .2500
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      1887500                              .2500
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      1887506                              .2500
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      1887508                              .2500
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      1887516                              .2500
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1
 
 
 
      1887519                              .2500
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      1887542                              .2500
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      1887557                              .2500
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      1887569                              .2500
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      1887571                              .2500
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      1887574                              .2500
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      1887578                              .2500
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      1887593                              .2500
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1
 
 
 
      1887644                              .2500
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      1887653                              .2500
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      1887654                              .2500
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      1887659                              .2500
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      1887682                              .2500
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      1887734                              .2500
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      1887747                              .2500
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      1887773                              .2500
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1
 
 
 
      1887815                              .2500
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      1887822                              .2500
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      1887825                              .2500
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      1887923                              .2500
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      1887927                              .2500
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      1887928                              .2500
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      1887930                              .2500
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      1887933                              .2500
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1
 
 
 
      1887956                              .2500
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      1887958                              .2500
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      1887973                              .2500
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      1887977                              .2500
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      1887982                              .2500
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      1887989                              .2500
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      1887992                              .2500
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      1888013                              .2500
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1
 
 
 
      1888019                              .2500
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      1888049                              .2500
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      1888066                              .2500
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      1888075                              .2500
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      1888089                              .2500
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      1888093                              .2500
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      1888103                              .2500
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      1888126                              .2500
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1
 
 
 
      1888140                              .2500
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      1888142                              .2500
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      1888180                              .2500
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      1888181                              .2500
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      1888182                              .2500
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      1888183                              .2500
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      1888184                              .2500
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      1888186                              .2500
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1
 
 
 
      1888188                              .2500
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      1888191                              .2500
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      1888197                              .2500
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      1888210                              .2500
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      1888231                              .2500
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      1888261                              .2500
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      1888265                              .2500
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      1888358                              .2500
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1
 
 
 
      1888389                              .2500
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      1888411                              .2500
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      1888459                              .2500
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      1888539                              .2500
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      1888558                              .2500
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      1888588                              .2500
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      1888613                              .2500
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      1888617                              .2500
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1
 
 
 
      1888661                              .2500
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      1888691                              .2500
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      1888695                              .2500
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      1888713                              .2500
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      1888715                              .2500
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      1888718                              .2500
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      1888719                              .2500
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      1888720                              .2500
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1
 
 
 
      1888722                              .2500
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      1888741                              .2500
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      1888743                              .2500
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      1888744                              .2500
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      1888746                              .2500
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      1888747                              .2500
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      1888781                              .2500
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      1888793                              .2500
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1
 
 
 
      1888797                              .2500
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      1888808                              .2500
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      1888817                              .2500
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      1888835                              .2500
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      1888837                              .2500
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      1888847                              .2500
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      1888861                              .2500
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      1888865                              .2500
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1
 
 
 
      1888870                              .2500
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      1888871                              .2500
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      1888872                              .2500
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      1888884                              .2500
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      1888895                              .2500
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      1889049                              .2500
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      1889077                              .2500
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      1889131                              .2500
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            7.1250                         .0000
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            6.6000                         .0450
1
 
 
 
      1889162                              .2500
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            7.1250                         .0000
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      1889163                              .2500
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      1889164                              .2500
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            7.3750                         .0000
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            6.8950                         .0000
            6.6000                         .2950
 
      1889234                              .2500
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      1889241                              .2500
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      1889316                              .2500
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      1889604                              .2500
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      1889691                              .2500
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1
 
 
 
      1889715                              .2500
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      1889783                              .2500
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      1889788                              .2500
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      1889792                              .2500
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      1889809                              .2500
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      1889813                              .2500
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      1889836                              .2500
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      1889844                              .2500
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1
 
 
 
      1889853                              .2500
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      1889868                              .2500
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      1889876                              .2500
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      1889882                              .2500
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      1889909                              .2500
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      1889925                              .2500
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      1889931                              .2500
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      1889948                              .2500
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1
 
 
 
      1889955                              .2500
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      1889961                              .2500
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      1889963                              .2500
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      1889967                              .2500
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      1889983                              .2500
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      1889994                              .2500
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      1889997                              .2500
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      1890004                              .2500
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1
 
 
 
      1890011                              .2500
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      1890014                              .2500
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      1890015                              .2500
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      1890023                              .2500
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      1890066                              .2500
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      1890095                              .2500
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      1890170                              .2500
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      1890200                              .2500
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1
 
 
 
      1890229                              .2500
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      1890232                              .2500
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      1890242                              .2500
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      1890257                              .2500
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      1890264                              .2500
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      1890282                              .2500
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      1890287                              .2500
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      1890319                              .2500
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1
 
 
 
      1890340                              .2500
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      1890343                              .2500
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      1890353                              .2500
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      1890357                              .2500
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      1890365                              .2500
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      1890367                              .2500
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      1890368                              .2500
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      1890372                              .2500
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1
 
 
 
      1890373                              .2500
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      1890374                              .2500
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      1890387                              .2500
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      1890394                              .2500
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      1890397                              .2500
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      1890413                              .2500
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      1890416                              .2500
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      1890419                              .2500
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1
 
 
 
      1890423                              .2500
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      1890426                              .2500
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      1890431                              .2500
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      1890433                              .2500
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      1890441                              .2500
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      1890451                              .2500
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      1890478                              .2500
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      1890487                              .2500
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1
 
 
 
      1890522                              .2500
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      1890531                              .2500
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      1890570                              .2500
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      1890655                              .2500
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      1890656                              .2500
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      1890666                              .2500
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      1890674                              .2500
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      1890678                              .2500
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1
 
 
 
      1890686                              .2500
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      1890761                              .2500
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      1890788                              .2500
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      1890806                              .2500
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      1890826                              .2500
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      1890836                              .2500
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      1890847                              .2500
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      1890855                              .2500
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1
 
 
 
      1890868                              .2500
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      1890877                              .2500
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      1890878                              .2500
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      1890886                              .2500
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      1890917                              .2500
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      1890926                              .2500
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      1890930                              .2500
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      1890986                              .2500
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1
 
 
 
      1891004                              .2500
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      1891026                              .2500
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      1891066                              .2500
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      1891110                              .2500
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      1891167                              .2500
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      1891172                              .2500
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      1891173                              .2500
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      1891248                              .2500
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1
 
 
 
      1891253                              .2500
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      1891256                              .2500
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      1891258                              .2500
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      1891259                              .2500
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      1891262                              .2500
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      1891264                              .2500
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      1891266                              .2500
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      1891267                              .2500
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1
 
 
 
      1891269                              .2500
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      1891273                              .2500
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      1891283                              .2500
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      1891308                              .2500
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      1891313                              .2500
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      1891316                              .2500
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      1891317                              .2500
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      1891327                              .2500
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1
 
 
 
      1891333                              .2500
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      1891355                              .2500
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      1891364                              .2500
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      1891374                              .2500
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      1891375                              .2500
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      1891391                              .2500
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      1891396                              .2500
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      1891402                              .2500
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1
 
 
 
      1891404                              .2500
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      1891405                              .2500
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      1891440                              .2500
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      1891444                              .2500
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      1891457                              .2500
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      1891476                              .2500
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      1891479                              .2500
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1
 
 
 
      1891482                              .2500
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      1891499                              .2500
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      1891501                              .2500
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      1891506                              .2500
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      1891515                              .2500
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1
 
 
 
      1891518                              .2500
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      1891684                              .2500
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      1891716                              .2500
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1
 
 
 
      1891724                              .2500
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      1891732                              .2500
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      1891743                              .2500
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      1891746                              .2500
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      1891747                              .2500
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      1891756                              .2500
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      1891766                              .2500
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      1891768                              .2500
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1
 
 
 
      1891769                              .2500
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      1891883                              .2500
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      1891954                              .2500
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      1892014                              .2500
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1
 
 
 
      1892015                              .2500
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      1892023                              .2500
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      1892081                              .2500
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      1892092                              .2500
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      1892094                              .2500
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      1892097                              .2500
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1
 
 
 
      1892108                              .2500
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      1892124                              .2500
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      1892150                              .2500
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      1892170                              .2500
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      1892178                              .2500
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      1892190                              .2500
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      1892195                              .2500
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1
 
 
 
      1892219                              .2500
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      1892224                              .2500
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      1892229                              .2500
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      1892233                              .2500
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      1892234                              .2500
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1
 
 
 
      1892235                              .2500
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      1892236                              .2500
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      1892285                              .2500
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      1892296                              .2500
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1
 
 
 
      1892299                              .2500
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      1892337                              .2500
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1
 
 
 
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1
 
 
 
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      1892495                              .2500
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1
 
 
 
      1892601                              .2500
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      1892645                              .2500
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1
 
 
 
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      1892685                              .2500
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1
 
 
 
      1892691                              .2500
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      1892721                              .2500
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      1892743                              .2500
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      1892744                              .2500
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1
 
 
 
      1892761                              .2500
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      1892773                              .2500
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      1892775                              .2500
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      1892779                              .2500
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      1892781                              .2500
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      1892782                              .2500
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      1892785                              .2500
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1
 
 
 
      1892786                              .2500
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      1892865                              .2500
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      1892894                              .2500
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      1892896                              .2500
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      1892909                              .2500
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      1892913                              .2500
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      1892930                              .2500
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      1892936                              .2500
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1
 
 
 
      1892943                              .2500
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      1892959                              .2500
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      1892966                              .2500
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      1892971                              .2500
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      1892978                              .2500
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      1892985                              .2500
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      1893001                              .2500
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1
 
 
 
      1893004                              .2500
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      1893005                              .2500
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      1893006                              .2500
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      1893010                              .2500
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      1893011                              .2500
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      1893012                              .2500
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      1893013                              .2500
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      1893015                              .2500
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1
 
 
 
      1893021                              .2500
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      1893033                              .2500
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      1893049                              .2500
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      1893066                              .2500
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      1893076                              .2500
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      1893077                              .2500
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      1893079                              .2500
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      1893082                              .2500
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1
 
 
 
      1893083                              .2500
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      1893085                              .2500
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      1893087                              .2500
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      1893088                              .2500
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      1893092                              .2500
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      1893093                              .2500
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      1893094                              .2500
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      1893097                              .2500
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1
 
 
 
      1893103                              .2500
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      1893104                              .2500
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      1893107                              .2500
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      1893109                              .2500
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      1893111                              .2500
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      1893113                              .2500
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      1893114                              .2500
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      1893117                              .2500
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1
 
 
 
      1893118                              .2500
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      1893119                              .2500
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      1893120                              .2500
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      1893124                              .2500
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      1893127                              .2500
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      1893132                              .2500
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      1893134                              .2500
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      1893135                              .2500
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1
 
 
 
      1893136                              .2500
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      1893137                              .2500
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      1893138                              .2500
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      1893145                              .2500
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      1893147                              .2500
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      1893149                              .2500
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      1893150                              .2500
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      1893151                              .2500
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            7.1250                         .0000
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            6.6000                         .0450
1
 
 
 
      1893152                              .2500
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      1893153                              .2500
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      1893155                              .2500
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      1893156                              .2500
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      1893159                              .2500
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      1893162                              .2500
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      1893163                              .2500
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      1893165                              .2500
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1
 
 
 
      1893166                              .2500
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      1893167                              .2500
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      1893168                              .2500
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      1893169                              .2500
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      1893170                              .2500
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      1893172                              .2500
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      1893175                              .2500
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      1893177                              .2500
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1
 
 
 
      1893179                              .2500
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      1893180                              .2500
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      1893181                              .2500
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      1893183                              .2500
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      1893184                              .2500
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      1893186                              .2500
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      1893187                              .2500
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      1893188                              .2500
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1
 
 
 
      1893189                              .2500
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      1893191                              .2500
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      1893192                              .2500
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      1893193                              .2500
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      1893194                              .2500
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      1893196                              .2500
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      1893197                              .2500
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      1893203                              .2500
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1
 
 
 
      1893204                              .2500
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      1893205                              .2500
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      1893206                              .2500
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      1893208                              .2500
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      1893209                              .2500
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      1893210                              .2500
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      1893211                              .2500
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      1893212                              .2500
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1
 
 
 
      1893214                              .2500
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      1893216                              .2500
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      1893217                              .2500
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      1893219                              .2500
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      1893220                              .2500
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      1893221                              .2500
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      1893223                              .2500
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      1893225                              .2500
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1
 
 
 
      1893226                              .2500
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      1893227                              .2500
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      1893228                              .2500
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      1893229                              .2500
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      1893230                              .2500
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      1893232                              .2500
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      1893234                              .2500
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      1893235                              .2500
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1
 
 
 
      1893236                              .2500
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      1893238                              .2500
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      1893243                              .2500
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      1893245                              .2500
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      1893247                              .2500
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      1893248                              .2500
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      1893252                              .2500
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      1893253                              .2500
      263,788.88                           .0800
            7.1250                         .0000
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            6.6000                         .0450
1
 
 
 
      1893300                              .2500
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      1893338                              .2500
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      1893341                              .2500
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      1893343                              .2500
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      1893444                              .2500
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      1893447                              .2500
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      1893448                              .2500
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      1893449                              .2500
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            7.5000                         .0000
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            6.6000                         .4200
1
 
 
 
      1893456                              .2500
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      1893461                              .2500
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      1893462                              .2500
      213,500.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1893463                              .2500
      310,000.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      1893465                              .2500
      296,910.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1893470                              .2500
      327,750.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1893473                              .2500
      141,149.20                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893492                              .2500
      281,219.70                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
1
 
 
 
      1893496                              .2500
      296,500.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1893515                              .2500
      337,401.92                           .0300
            6.6250                         .0000
            6.3750                         .1500
            6.1950                         .0000
            6.1950                         .0000
 
      1893517                              .2500
      360,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1893520                              .2500
      419,647.15                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1893523                              .2500
      265,200.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1893526                              .2500
      392,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893528                              .2500
      391,701.72                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1893529                              .2500
      441,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
1
 
 
 
      1893534                              .2500
      283,743.25                           .0300
            6.5000                         .0000
            6.2500                         .1500
            6.0700                         .0000
            6.0700                         .0000
 
      1893542                              .2500
      414,642.69                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      1893546                              .2500
      304,743.76                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1893550                              .2500
      496,592.61                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893552                              .2500
      354,736.54                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1893555                              .2500
      315,753.49                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893556                              .2500
      429,498.15                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1893557                              .2500
      150,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
1
 
 
 
      1893560                              .2500
      293,764.89                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1893564                              .2500
      280,769.66                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893572                              .2500
      405,658.91                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1893577                              .2500
      323,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1893581                              .2500
      423,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893582                              .2500
      250,894.17                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893585                              .2500
      370,400.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893588                              .2500
      411,694.23                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
1
 
 
 
      1893589                              .2500
       99,400.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1893591                              .2500
      359,719.16                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893602                              .2500
      310,001.89                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1893607                              .2500
      262,290.07                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1893609                              .2500
      289,773.77                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893637                              .2500
      319,737.70                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893641                              .2500
      309,477.63                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1893646                              .2500
      413,850.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      1893648                              .2500
      398,874.83                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893652                              .2500
      300,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893655                              .2500
      360,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893658                              .2500
      439,621.17                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      1893661                              .2500
      304,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893663                              .2500
      309,733.10                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      1893666                              .2500
      360,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1893668                              .2500
      287,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      1893683                              .2500
      324,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1893687                              .2500
      122,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893690                              .2500
      158,000.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      1893708                              .2500
      160,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893711                              .2500
      139,300.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893715                              .2500
      320,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893716                              .2500
       77,900.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1893725                              .2500
      500,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
1
 
 
 
      1893726                              .2500
      252,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893727                              .2500
      284,100.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1893729                              .2500
      172,425.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1893772                              .2500
      300,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893774                              .2500
      313,210.48                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893775                              .2500
      460,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893776                              .2500
      126,400.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1893777                              .2500
      408,156.80                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1893778                              .2500
      423,669.24                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893779                              .2500
      284,554.01                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893780                              .2500
      312,510.17                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893781                              .2500
      283,267.62                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893784                              .2500
      281,907.07                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      1893785                              .2500
      102,400.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893786                              .2500
      314,741.80                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893789                              .2500
      256,284.50                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1893791                              .2500
      296,157.04                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893793                              .2500
      632,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1893794                              .2500
      313,742.62                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893795                              .2500
      102,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893796                              .2500
      299,747.96                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1893798                              .2500
      367,698.36                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893800                              .2500
      262,584.58                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893801                              .2500
      278,965.43                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1893804                              .2500
      279,781.58                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893807                              .2500
      251,004.04                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893809                              .2500
      291,355.02                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1893810                              .2500
      329,715.87                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      1893820                              .2500
      103,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893829                              .2500
      266,250.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893832                              .2500
      405,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893841                              .2500
      304,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1893844                              .2500
      132,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1893845                              .2500
      329,750.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893847                              .2500
      204,800.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1893875                              .2500
      216,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893883                              .2500
      264,700.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1893885                              .2500
      264,800.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893888                              .2500
      345,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893890                              .2500
      314,500.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
1
 
 
 
      1893893                              .2500
      386,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1893901                              .2500
       79,200.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1893907                              .2500
      114,750.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893908                              .2500
      116,700.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893909                              .2500
      113,657.37                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1893924                              .2500
      284,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1893927                              .2500
      413,252.52                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1893954                              .2500
      274,569.13                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1893957                              .2500
      266,775.68                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1893961                              .2500
      404,668.02                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893969                              .2500
      399,655.60                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      1893972                              .2500
      250,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
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      1893976                              .2500
      254,250.00                           .0300
            6.5000                         .0000
            6.2500                         .1500
            6.0700                         .0000
            6.0700                         .0000
 
      1893978                              .2500
      267,769.25                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      1893980                              .2500
      599,508.18                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1893981                              .2500
      366,699.16                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      1893984                              .2500
      339,734.77                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893991                              .2500
      315,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1893996                              .2500
      270,766.67                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      1894018                              .2500
      142,400.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894020                              .2500
      319,744.10                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894022                              .2500
      260,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894025                              .2500
      307,753.69                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894028                              .2500
       80,000.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
1
 
 
 
      1894029                              .2500
       60,800.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1894033                              .2500
       92,000.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      1894035                              .2500
      109,500.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      1894036                              .2500
      347,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1894038                              .2500
      251,788.28                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894039                              .2500
      284,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894042                              .2500
      382,500.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1894043                              .2500
      275,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
1
 
 
 
      1894044                              .2500
      260,786.06                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894048                              .2500
      262,500.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      1894049                              .2500
      291,748.59                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      1894051                              .2500
      647,494.49                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894052                              .2500
      285,600.00                           .0300
            6.5000                         .0000
            6.2500                         .1500
            6.0700                         .0000
            6.0700                         .0000
 
      1894053                              .2500
      268,784.88                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894059                              .2500
      313,742.62                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894060                              .2500
      330,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
1
 
 
 
      1894062                              .2500
      260,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894063                              .2500
      249,800.08                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894066                              .2500
      340,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894069                              .2500
      319,750.36                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894073                              .2500
      273,600.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1894075                              .2500
      639,475.39                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894081                              .2500
      327,200.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894082                              .2500
      316,733.68                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1894084                              .2500
      324,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894086                              .2500
      299,512.90                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      1894091                              .2500
      190,350.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      1894093                              .2500
      330,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894098                              .2500
      292,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1894099                              .2500
      300,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894104                              .2500
      287,200.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1894105                              .2500
      288,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
1
 
 
 
      1894178                              .2500
      440,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894221                              .2500
      299,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1894294                              .2500
      430,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1894297                              .2500
      269,799.62                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1894304                              .2500
      464,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894308                              .2500
      393,413.29                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894311                              .2500
      409,600.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894316                              .2500
      271,577.20                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      1894318                              .2500
      414,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894319                              .2500
      365,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894327                              .2500
      279,770.48                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894337                              .2500
      349,068.48                           .0300
            6.6250                         .0000
            6.3750                         .1500
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            6.1950                         .0000
 
      1894341                              .2500
      349,155.35                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894346                              .2500
      293,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1894354                              .2500
      326,132.45                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894357                              .2500
      399,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
1
 
 
 
      1894388                              .2500
      299,771.72                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1894442                              .2500
      294,752.16                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894470                              .2500
      296,900.00                           .0300
            6.6250                         .0000
            6.3750                         .1500
            6.1950                         .0000
            6.1950                         .0000
 
      1894474                              .2500
      307,241.66                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894479                              .2500
      115,200.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894481                              .2500
      400,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894482                              .2500
      273,750.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894483                              .2500
      391,701.72                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
1
 
 
 
      1894484                              .2500
      328,950.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894485                              .2500
      505,574.90                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894490                              .2500
      379,393.72                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      1894494                              .2500
      383,200.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1894495                              .2500
      279,776.09                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894498                              .2500
      306,242.50                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894522                              .2500
      284,800.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1894525                              .2500
      361,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      1894527                              .2500
      311,920.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1894531                              .2500
      256,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1894533                              .2500
      280,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1894535                              .2500
       68,100.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894539                              .2500
      329,600.00                           .0300
            6.6250                         .0000
            6.3750                         .1500
            6.1950                         .0000
            6.1950                         .0000
 
      1894540                              .2500
      106,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894543                              .2500
      290,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894545                              .2500
      336,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      1894547                              .2500
       70,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894555                              .2500
      325,000.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      1894560                              .2500
      223,900.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894563                              .2500
      255,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1894566                              .2500
      264,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894571                              .2500
      272,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894641                              .2500
      327,721.44                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894647                              .2500
      366,441.88                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1894652                              .2500
      344,378.85                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894655                              .2500
      259,440.12                           .0300
            6.6250                         .0000
            6.3750                         .1500
            6.1950                         .0000
            6.1950                         .0000
 
      1894658                              .2500
      274,768.96                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894663                              .2500
      264,585.29                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894664                              .2500
      257,798.77                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894665                              .2500
      305,730.01                           .0300
            6.6250                         .0000
            6.3750                         .1500
            6.1950                         .0000
            6.1950                         .0000
 
      1894666                              .2500
      294,769.08                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894667                              .2500
      269,553.19                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      1894668                              .2500
      259,372.53                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894669                              .2500
      299,741.70                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      1894737                              .2500
      464,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894759                              .2500
      258,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894763                              .2500
      247,200.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894796                              .2500
      267,559.36                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894798                              .2500
      423,600.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894799                              .2500
      424,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1894800                              .2500
      300,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894803                              .2500
      254,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1894806                              .2500
      450,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894807                              .2500
      327,731.14                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894813                              .2500
      275,500.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894814                              .2500
      299,747.96                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894820                              .2500
      299,735.32                           .0300
            6.6250                         .0000
            6.3750                         .1500
            6.1950                         .0000
            6.1950                         .0000
 
      1894825                              .2500
      295,000.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
1
 
 
 
      1894827                              .2500
      299,747.96                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894830                              .2500
      443,269.98                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894837                              .2500
      287,758.05                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894844                              .2500
      289,756.37                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894846                              .2500
      339,721.30                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894849                              .2500
      299,494.48                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894854                              .2500
      304,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894856                              .2500
      416,358.43                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      1894860                              .2500
      363,716.05                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894861                              .2500
      212,000.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      1894865                              .2500
      594,500.12                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894866                              .2500
      125,491.86                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      1894867                              .2500
      404,168.43                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894868                              .2500
      430,400.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1894870                              .2500
      120,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894871                              .2500
      282,756.35                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
1
 
 
 
      1894876                              .2500
      296,768.32                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894878                              .2500
      344,880.01                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      1894883                              .2500
      274,968.80                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894886                              .2500
      272,492.49                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1894890                              .2500
      298,167.22                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894891                              .2500
      263,788.88                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894894                              .2500
      420,846.15                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894896                              .2500
      307,777.07                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
1
 
 
 
      1894901                              .2500
      284,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1894902                              .2500
      301,600.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894906                              .2500
      444,153.24                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894911                              .2500
      359,150.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1894923                              .2500
      294,786.48                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      1894926                              .2500
      291,200.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894933                              .2500
      380,500.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1894937                              .2500
      324,246.86                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
1
 
 
 
      1894938                              .2500
      420,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1894945                              .2500
      259,047.07                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      1894947                              .2500
      279,786.94                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1894953                              .2500
      264,788.09                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1894960                              .2500
      321,722.76                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      1894963                              .2500
      449,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1894964                              .2500
      353,210.23                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1894970                              .2500
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            6.6000                         .2950
1
 
 
 
      1894974                              .2500
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      1894989                              .2500
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            6.6000                         .2950
 
      1894994                              .2500
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            7.0200                         .0000
            6.6000                         .4200
 
      1895008                              .2500
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            6.4450                         .0000
 
      1895016                              .2500
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            6.6000                         .5450
 
      1895018                              .2500
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            7.0000                         .0000
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            6.5700                         .0000
            6.5700                         .0000
 
      1895020                              .2500
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            7.5000                         .0000
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            6.6000                         .4200
 
      1895021                              .2500
      395,675.40                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      1895039                              .2500
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      1895044                              .2500
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            6.3200                         .0000
 
      1895059                              .2500
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      1895062                              .2500
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            6.6000                         .2950
 
      1895063                              .2500
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            6.6000                         .1700
 
      1895066                              .2500
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            6.4450                         .0000
 
      1895102                              .2500
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            6.6000                         .5450
 
      1895106                              .2500
      200,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
1
 
 
 
      1895108                              .2500
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            6.6000                         .2950
 
      1895119                              .2500
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      1895122                              .2500
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      1895126                              .2500
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            6.6000                         .1700
 
      1895129                              .2500
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            7.0000                         .0000
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            6.5700                         .0000
            6.5700                         .0000
 
      1895133                              .2500
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            6.6000                         .2950
 
      1895146                              .2500
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            6.6000                         .0450
 
      1895162                              .2500
      234,400.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
1
 
 
 
      1895170                              .2500
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      1895182                              .2500
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      1895184                              .2500
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      1895187                              .2500
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      1895194                              .2500
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      1895195                              .2500
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            7.3750                         .0000
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            6.8950                         .0000
            6.6000                         .2950
 
      1895198                              .2500
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            6.5700                         .0000
            6.5700                         .0000
 
      1895200                              .2500
      336,224.18                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      1895202                              .2500
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            7.0000                         .0000
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            6.5700                         .0000
 
      1895206                              .2500
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            7.2500                         .0000
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      1895208                              .2500
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            7.0000                         .0000
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            6.5700                         .0000
 
      1895209                              .2500
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            7.2500                         .0000
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      1895226                              .2500
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            7.1250                         .0000
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            6.6450                         .0000
            6.6000                         .0450
 
      1895228                              .2500
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            7.2500                         .0000
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      1895231                              .2500
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            7.2500                         .0000
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      1895234                              .2500
      229,550.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      1895235                              .2500
      413,702.14                           .0300
            6.8750                         .0000
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      1895236                              .2500
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            7.5000                         .0000
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            7.0200                         .0000
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      1895237                              .2500
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            7.2500                         .0000
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            6.7700                         .0000
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      1895238                              .2500
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            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1895239                              .2500
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            7.1250                         .0000
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            6.6450                         .0000
            6.6000                         .0450
 
      1895241                              .2500
      366,691.67                           .0300
            6.8750                         .0000
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      1895242                              .2500
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            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1895243                              .2500
      355,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      1895245                              .2500
      329,729.50                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1895249                              .2500
      399,672.12                           .0300
            7.0000                         .0000
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            6.5700                         .0000
            6.5700                         .0000
 
      1895252                              .2500
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            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1895255                              .2500
      340,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
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            6.4450                         .0000
 
      1895260                              .2500
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            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1895272                              .2500
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            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1895279                              .2500
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            6.7500                         .0000
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            6.3200                         .0000
            6.3200                         .0000
 
      1895284                              .2500
      307,759.73                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
1
 
 
 
      1895285                              .2500
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            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1895289                              .2500
      279,265.18                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1895295                              .2500
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            6.7500                         .0000
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            6.3200                         .0000
 
      1895296                              .2500
      274,311.09                           .0800
            7.8750                         .0000
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            7.3950                         .0000
            6.6000                         .7950
 
      1895299                              .2500
      255,784.93                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1895303                              .2500
      299,760.09                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895313                              .2500
      398,872.78                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1895316                              .2500
      297,600.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
1
 
 
 
      1895323                              .2500
      310,500.00                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1895330                              .2500
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            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895331                              .2500
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            7.0000                         .0000
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            6.5700                         .0000
            6.5700                         .0000
 
      1895333                              .2500
      380,000.00                           .0800
            7.1250                         .0000
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            6.6450                         .0000
            6.6000                         .0450
 
      1895334                              .2500
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            7.5000                         .0000
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            7.0200                         .0000
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      1895337                              .2500
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            7.5000                         .0000
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            6.6000                         .4200
 
      1895342                              .2500
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            6.8750                         .0000
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      1895349                              .2500
      356,700.07                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1895351                              .2500
      210,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1895353                              .2500
      255,810.01                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1895354                              .2500
      269,778.68                           .0300
            7.0000                         .0000
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            6.5700                         .0000
            6.5700                         .0000
 
      1895358                              .2500
      311,200.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1895362                              .2500
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            7.0000                         .0000
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            6.5700                         .0000
 
      1895369                              .2500
      264,600.00                           .0300
            7.0000                         .0000
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            6.5700                         .0000
 
      1895382                              .2500
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            6.8750                         .0000
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      1895383                              .2500
      296,100.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1895385                              .2500
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            6.8750                         .0000
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      1895393                              .2500
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            6.5000                         .0000
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      1895395                              .2500
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            7.1250                         .0000
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      1895402                              .2500
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            8.0000                         .0000
            7.7500                         .1500
            7.5200                         .0000
            6.6000                         .9200
 
      1895406                              .2500
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            6.8750                         .0000
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      1895412                              .2500
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            7.5000                         .0000
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            7.0200                         .0000
            6.6000                         .4200
 
      1895414                              .2500
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            7.1250                         .0000
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            6.6000                         .0450
 
      1895420                              .2500
      399,613.99                           .0300
            6.8750                         .0000
            6.6250                         .1500
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            6.4450                         .0000
1
 
 
 
      1895428                              .2500
      368,497.69                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1895431                              .2500
      261,590.64                           .0800
            7.1250                         .0000
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            6.6450                         .0000
            6.6000                         .0450
 
      1895433                              .2500
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            6.8750                         .0000
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      1895435                              .2500
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            7.1250                         .0000
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            6.6000                         .0450
 
      1895437                              .2500
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            6.8750                         .0000
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      1895439                              .2500
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      1895441                              .2500
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            7.1250                         .0000
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            6.6000                         .0450
 
      1895443                              .2500
      262,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
1
 
 
 
      1895445                              .2500
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            6.7500                         .0000
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            6.3200                         .0000
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      1895446                              .2500
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            6.8750                         .0000
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      1895448                              .2500
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            7.0000                         .0000
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      1895450                              .2500
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            7.0000                         .0000
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            6.5700                         .0000
 
      1895451                              .2500
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            7.1250                         .0000
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            6.6000                         .0450
 
      1895455                              .2500
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            7.2500                         .0000
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      1895457                              .2500
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            7.1250                         .0000
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            6.6000                         .0450
 
      1895487                              .2500
      367,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
1
 
 
 
      1895491                              .2500
      280,000.00                           .0800
            7.2500                         .0000
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            6.6000                         .1700
 
      1895498                              .2500
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            7.2500                         .0000
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      1895512                              .2500
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            6.8750                         .0000
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      1895522                              .2500
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            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1895529                              .2500
      343,718.03                           .0300
            7.0000                         .0000
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            6.5700                         .0000
 
      1895530                              .2500
      383,715.02                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1895537                              .2500
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            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1895538                              .2500
      275,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1895540                              .2500
      269,784.08                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895541                              .2500
      256,294.88                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895542                              .2500
      260,096.95                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1895543                              .2500
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            6.8750                         .0000
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      1895546                              .2500
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            6.8750                         .0000
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      1895548                              .2500
      306,941.92                           .0300
            6.8750                         .0000
            6.6250                         .1500
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            6.4450                         .0000
 
      1895553                              .2500
      263,000.00                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1895559                              .2500
      342,951.60                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
1
 
 
 
      1895560                              .2500
      337,216.45                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1895563                              .2500
      496,900.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1895564                              .2500
      274,735.52                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1895567                              .2500
      251,200.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1895569                              .2500
      268,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1895570                              .2500
      304,050.66                           .0800
            7.7500                         .0000
            7.5000                         .1500
            7.2700                         .0000
            6.6000                         .6700
 
      1895571                              .2500
      283,761.40                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1895574                              .2500
      351,339.06                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
1
 
 
 
      1895575                              .2500
      253,691.87                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1895580                              .2500
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            6.6000                         .0450
 
      1895581                              .2500
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            6.6000                         .4200
 
      1895582                              .2500
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            7.5200                         .0000
            6.6000                         .9200
 
      1895593                              .2500
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            6.6000                         .1700
 
      1895596                              .2500
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            6.6000                         .4200
 
      1895599                              .2500
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      1895603                              .2500
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1
 
 
 
      1895608                              .2500
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      1895609                              .2500
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            6.5700                         .0000
 
      1895610                              .2500
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            6.5700                         .0000
 
      1895611                              .2500
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            6.3200                         .0000
 
      1895613                              .2500
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            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1895618                              .2500
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            7.1250                         .0000
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            6.6450                         .0000
            6.6000                         .0450
 
      1895632                              .2500
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            6.1950                         .0000
 
      1895640                              .2500
      385,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      1895644                              .2500
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            7.5000                         .0000
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      1895650                              .2500
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            6.6000                         .1700
 
      1895665                              .2500
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      1895671                              .2500
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            6.6000                         .5450
 
      1895673                              .2500
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      1895676                              .2500
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      1895679                              .2500
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            6.5700                         .0000
 
      1895681                              .2500
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            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
1
 
 
 
      1895685                              .2500
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            7.2500                         .0000
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      1895686                              .2500
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      1895689                              .2500
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      1895693                              .2500
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            6.6000                         .1700
 
      1895694                              .2500
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            7.3750                         .0000
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            6.8950                         .0000
            6.6000                         .2950
 
      1895698                              .2500
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            6.4450                         .0000
 
      1895702                              .2500
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            6.6000                         .1700
 
      1895705                              .2500
      220,000.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
1
 
 
 
      1895714                              .2500
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            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895740                              .2500
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            6.8750                         .0000
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            6.4450                         .0000
 
      1895742                              .2500
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            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1895746                              .2500
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            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1895750                              .2500
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            7.0000                         .0000
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            6.5700                         .0000
 
      1895751                              .2500
      354,749.45                           .0800
            7.7500                         .0000
            7.5000                         .1500
            7.2700                         .0000
            6.6000                         .6700
 
      1895752                              .2500
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            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1895755                              .2500
      268,605.45                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
1
 
 
 
      1895756                              .2500
      464,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895759                              .2500
      309,758.17                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1895760                              .2500
      332,500.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895762                              .2500
      323,900.00                           .0300
            6.3750                         .0000
            6.1250                         .1500
            5.9450                         .0000
            5.9450                         .0000
 
      1895765                              .2500
      306,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1895766                              .2500
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            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895769                              .2500
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            6.8750                         .0000
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            6.4450                         .0000
            6.4450                         .0000
 
      1895773                              .2500
      335,817.63                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1895775                              .2500
      304,250.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1895777                              .2500
      262,040.28                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895781                              .2500
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            7.1250                         .0000
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            6.6450                         .0000
            6.6000                         .0450
 
      1895782                              .2500
      468,375.14                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895786                              .2500
      279,764.76                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1895787                              .2500
      269,329.05                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1895790                              .2500
      299,010.70                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895793                              .2500
      399,325.97                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1895795                              .2500
      458,092.54                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1895800                              .2500
      332,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1895803                              .2500
      611,485.85                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1895818                              .2500
      254,186.27                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1895820                              .2500
      306,754.49                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895821                              .2500
      315,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1895822                              .2500
      430,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1895824                              .2500
      251,793.44                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      1895826                              .2500
      268,800.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1895829                              .2500
      333,732.90                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895831                              .2500
      287,675.41                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1895833                              .2500
      326,744.91                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1895838                              .2500
      300,000.00                           .0300
            6.8750                         .0000
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            6.4450                         .0000
            6.4450                         .0000
 
      1895844                              .2500
      245,700.00                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1895846                              .2500
      286,700.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895855                              .2500
      334,112.09                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
1
 
 
 
      1895867                              .2500
      345,150.01                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      1895882                              .2500
      319,200.00                           .0800
            7.3750                         .0000
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            6.8950                         .0000
            6.6000                         .2950
 
      1895896                              .2500
      266,400.00                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1895907                              .2500
      280,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1895910                              .2500
      520,000.00                           .0300
            7.0000                         .0000
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            6.5700                         .0000
            6.5700                         .0000
 
      1895915                              .2500
      400,000.00                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1895921                              .2500
      160,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1895925                              .2500
       87,100.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
1
 
 
 
      1895927                              .2500
      345,100.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895928                              .2500
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            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895931                              .2500
      306,800.00                           .0300
            7.0000                         .0000
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            6.5700                         .0000
            6.5700                         .0000
 
      1895936                              .2500
      367,000.00                           .0300
            7.0000                         .0000
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            6.5700                         .0000
 
      1895937                              .2500
      277,000.00                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1895938                              .2500
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            7.1250                         .0000
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            6.6450                         .0000
            6.6000                         .0450
 
      1895942                              .2500
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            7.1250                         .0000
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      1895943                              .2500
      504,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
1
 
 
 
      1895944                              .2500
      190,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1895962                              .2500
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            7.2500                         .0000
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            6.6000                         .1700
 
      1895966                              .2500
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            7.2500                         .0000
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      1895978                              .2500
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            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1895980                              .2500
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            7.1250                         .0000
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            6.6450                         .0000
            6.6000                         .0450
 
      1895984                              .2500
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            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1895987                              .2500
      649,467.20                           .0300
            7.0000                         .0000
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            6.5700                         .0000
            6.5700                         .0000
 
      1895992                              .2500
      356,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
1
 
 
 
      1895993                              .2500
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            6.8750                         .0000
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      1895997                              .2500
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            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1896008                              .2500
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            7.0000                         .0000
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            6.5700                         .0000
 
      1896026                              .2500
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            6.8750                         .0000
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      1896034                              .2500
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      1896036                              .2500
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            6.6000                         .4200
 
      1896042                              .2500
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            7.0000                         .0000
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            6.5700                         .0000
 
      1896048                              .2500
      291,766.49                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
1
 
 
 
      1896053                              .2500
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            7.1250                         .0000
            6.8750                         .1500
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            6.6000                         .0450
 
      1896061                              .2500
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            6.8750                         .0000
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      1896068                              .2500
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            6.8750                         .0000
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      1896075                              .2500
      282,190.42                           .0800
            7.5000                         .0000
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            7.0200                         .0000
            6.6000                         .4200
 
      1896076                              .2500
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            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1896090                              .2500
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            6.8750                         .0000
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      1896096                              .2500
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            6.8750                         .0000
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      1896155                              .2500
      259,781.57                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1896192                              .2500
      339,600.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
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            6.5700                         .0000
 
      1896198                              .2500
      270,650.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1896217                              .2500
      351,200.00                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      1896329                              .2500
      283,400.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      1896344                              .2500
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            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      1896345                              .2500
      141,520.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1896409                              .2500
      320,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1896413                              .2500
      312,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
1
 
 
 
      1896414                              .2500
      226,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1896420                              .2500
      265,900.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      1896426                              .2500
      364,500.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1896430                              .2500
      264,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      1896432                              .2500
      186,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1896459                              .2500
      269,600.00                           .0300
            6.6250                         .0000
            6.3750                         .1500
            6.1950                         .0000
            6.1950                         .0000
 
      1896485                              .2500
      332,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      1896489                              .2500
      286,500.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      1896490                              .2500
      303,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1896491                              .2500
      264,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      1896500                              .2500
      350,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      1896502                              .2500
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1
 
 
 
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1
 
 
 
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1
 
 
 
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      1896976                              .2500
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1
 
 
 
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      1897418                              .2500
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1
 
 
 
      1897537                              .2500
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      1897562                              .2500
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      2745943                              .2500
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1
 
 
 
      2748057                              .2500
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      2748087                              .2500
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      2748089                              .2500
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      2748680                              .2500
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      2749227                              .2500
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1
 
 
 
      2749228                              .2500
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      2754125                              .2500
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1
 
 
 
      2755426                              .2500
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      2756028                              .2500
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      2756840                              .2500
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1
 
 
 
      2756845                              .2500
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      2756863                              .2500
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      2756867                              .2500
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      2758172                              .2500
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      2758189                              .2500
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      2758209                              .2500
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1
 
 
 
      2758781                              .2500
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1
 
 
 
      2761263                              .2500
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      2761296                              .2500
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      2761388                              .2500
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1
 
 
 
      2761403                              .2500
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      2761405                              .2500
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      2761462                              .2500
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      2761637                              .2500
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      2761638                              .2500
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      2761641                              .2500
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      2761642                              .2500
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1
 
 
 
      2761643                              .2500
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      2761646                              .2500
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      2761647                              .2500
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      2761648                              .2500
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      2761650                              .2500
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      2761654                              .2500
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      2761655                              .2500
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1
 
 
 
      2761656                              .2500
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      2761658                              .2500
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      2761659                              .2500
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      2761660                              .2500
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      2761661                              .2500
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      2761662                              .2500
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      2761663                              .2500
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      2761664                              .2500
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1
 
 
 
      2761665                              .2500
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      2761666                              .2500
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      2761669                              .2500
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      2761670                              .2500
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      2761672                              .2500
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      2761674                              .2500
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      2761675                              .2500
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1
 
 
 
      2761678                              .2500
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      2761679                              .2500
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      2761680                              .2500
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      2761681                              .2500
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      2761683                              .2500
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      2761687                              .2500
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            6.6000                         .4200
 
      2761688                              .2500
      448,581.99                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761691                              .2500
      294,246.43                           .0300
            6.7500                         .0000
            6.5000                         .1500
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            6.3200                         .0000
1
 
 
 
      2761692                              .2500
      359,697.55                           .0300
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            6.4450                         .0000
 
      2761695                              .2500
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            7.0000                         .0000
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            6.5700                         .0000
            6.5700                         .0000
 
      2761697                              .2500
      270,880.69                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      2761699                              .2500
      288,680.16                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2761700                              .2500
      254,790.97                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761703                              .2500
      477,598.41                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761705                              .2500
      526,461.93                           .0300
            6.3750                         .0000
            6.1250                         .1500
            5.9450                         .0000
            5.9450                         .0000
 
      2761707                              .2500
      458,005.32                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
1
 
 
 
      2761708                              .2500
      387,665.93                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      2761712                              .2500
      319,737.70                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761713                              .2500
      343,718.02                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761719                              .2500
      262,280.73                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761720                              .2500
      251,803.41                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761721                              .2500
      369,376.52                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761722                              .2500
      299,754.09                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761723                              .2500
      451,601.21                           .0300
            6.6250                         .0000
            6.3750                         .1500
            6.1950                         .0000
            6.1950                         .0000
1
 
 
 
      2761724                              .2500
      269,784.08                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2761725                              .2500
      350,712.28                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761727                              .2500
      410,000.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      2761729                              .2500
      387,674.03                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761730                              .2500
      268,274.28                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2761732                              .2500
      312,590.11                           .0800
            8.0000                         .0000
            7.7500                         .1500
            7.5200                         .0000
            6.6000                         .9200
 
      2761734                              .2500
      339,747.67                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      2761736                              .2500
      266,447.10                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
1
 
 
 
      2761738                              .2500
      331,741.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761739                              .2500
      387,174.45                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761740                              .2500
      311,750.49                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2761741                              .2500
      269,773.17                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761742                              .2500
      437,632.03                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761743                              .2500
      299,765.97                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761744                              .2500
      260,546.58                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761745                              .2500
      388,556.88                           .0300
            6.6250                         .0000
            6.3750                         .1500
            6.1950                         .0000
            6.1950                         .0000
1
 
 
 
      2761746                              .2500
      399,663.95                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761749                              .2500
      384,676.55                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761750                              .2500
      288,569.68                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      2761752                              .2500
      627,472.40                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761753                              .2500
      296,777.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      2761754                              .2500
      366,713.70                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761756                              .2500
      279,786.93                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2761757                              .2500
      622,173.04                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
1
 
 
 
      2761759                              .2500
      289,368.41                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2761760                              .2500
      419,664.13                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2761762                              .2500
      307,728.26                           .0300
            6.6250                         .0000
            6.3750                         .1500
            6.1950                         .0000
            6.1950                         .0000
 
      2761763                              .2500
      323,740.90                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2761765                              .2500
      269,773.17                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761766                              .2500
      450,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761767                              .2500
       99,918.02                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761770                              .2500
      347,671.70                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
1
 
 
 
      2761772                              .2500
      403,235.18                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761774                              .2500
      361,724.54                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2761776                              .2500
      351,732.15                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2761777                              .2500
      299,747.96                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761778                              .2500
      359,140.52                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      2761779                              .2500
      347,721.70                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2761780                              .2500
      291,772.21                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761782                              .2500
      370,400.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
1
 
 
 
      2761783                              .2500
      361,488.50                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      2761785                              .2500
      637,014.91                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2761787                              .2500
      365,735.10                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      2761789                              .2500
      339,412.89                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      2761791                              .2500
      269,809.43                           .0800
            7.7500                         .0000
            7.5000                         .1500
            7.2700                         .0000
            6.6000                         .6700
 
      2761793                              .2500
      411,716.46                           .0800
            7.8750                         .0000
            7.6250                         .1500
            7.3950                         .0000
            6.6000                         .7950
 
      2761794                              .2500
      259,356.89                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761795                              .2500
      382,729.68                           .0800
            7.7500                         .0000
            7.5000                         .1500
            7.2700                         .0000
            6.6000                         .6700
1
 
 
 
      2761796                              .2500
      271,787.81                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761800                              .2500
      374,707.46                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761801                              .2500
      479,162.27                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761804                              .2500
      265,600.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761805                              .2500
      314,754.27                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761807                              .2500
      293,523.37                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2761809                              .2500
      265,781.96                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761812                              .2500
      268,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
1
 
 
 
      2761813                              .2500
      323,541.16                           .0800
            7.7500                         .0000
            7.5000                         .1500
            7.2700                         .0000
            6.6000                         .6700
 
      2761814                              .2500
      273,488.38                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761815                              .2500
      293,562.24                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      2761816                              .2500
      499,590.15                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761819                              .2500
      498,330.98                           .0300
            6.8750                         .0000
            6.6250                         .1500
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      2761821                              .2500
      327,224.85                           .0300
            6.8750                         .0000
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      2761822                              .2500
      402,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
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            6.4450                         .0000
 
      2761824                              .2500
      174,676.63                           .0800
            7.7500                         .0000
            7.5000                         .1500
            7.2700                         .0000
            6.6000                         .6700
1
 
 
 
      2761826                              .2500
      314,735.36                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761830                              .2500
      289,600.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761833                              .2500
      376,500.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761834                              .2500
      328,000.00                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      2761836                              .2500
      283,778.44                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761837                              .2500
      259,781.56                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2761838                              .2500
      499,600.15                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2761839                              .2500
      314,735.36                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      2761840                              .2500
      328,743.34                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761841                              .2500
      258,300.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2761843                              .2500
      290,173.46                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761844                              .2500
      347,735.20                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2761846                              .2500
      263,472.75                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2761847                              .2500
      349,759.13                           .0800
            7.8750                         .0000
            7.6250                         .1500
            7.3950                         .0000
            6.6000                         .7950
 
      2761848                              .2500
      433,320.82                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      2761850                              .2500
      335,717.71                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      2761851                              .2500
      650,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761853                              .2500
      374,377.39                           .0300
            6.7500                         .0000
            6.5000                         .1500
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            6.3200                         .0000
 
      2761860                              .2500
      310,157.85                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      2761861                              .2500
      255,599.38                           .0800
            7.2500                         .0000
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            6.7700                         .0000
            6.6000                         .1700
 
      2761863                              .2500
      337,249.53                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      2761866                              .2500
      281,629.81                           .0800
            8.1250                         .0000
            7.8750                         .1500
            7.6450                         .0000
            6.6000                        1.0450
 
      2761867                              .2500
      293,353.33                           .0300
            6.8750                         .0000
            6.6250                         .1500
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            6.4450                         .0000
 
      2761870                              .2500
      259,649.92                           .0800
            8.0000                         .0000
            7.7500                         .1500
            7.5200                         .0000
            6.6000                         .9200
1
 
 
 
      2761871                              .2500
      349,698.65                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
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      2761873                              .2500
      324,726.96                           .0300
            6.8750                         .0000
            6.6250                         .1500
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      2761874                              .2500
      287,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
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            6.5700                         .0000
 
      2761876                              .2500
       99,671.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761877                              .2500
      269,617.65                           .0800
            7.7500                         .0000
            7.5000                         .1500
            7.2700                         .0000
            6.6000                         .6700
 
      2761878                              .2500
      329,729.50                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761880                              .2500
      256,190.74                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761881                              .2500
      287,264.33                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      2761882                              .2500
      399,419.14                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      2761883                              .2500
      226,645.07                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761884                              .2500
      443,653.63                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761885                              .2500
      372,700.00                           .0800
            7.8750                         .0000
            7.6250                         .1500
            7.3950                         .0000
            6.6000                         .7950
 
      2761886                              .2500
      439,689.45                           .0800
            7.7500                         .0000
            7.5000                         .1500
            7.2700                         .0000
            6.6000                         .6700
 
      2761888                              .2500
      309,029.21                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2761890                              .2500
      372,730.02                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      2761891                              .2500
      314,741.79                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      2761892                              .2500
      211,826.22                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761893                              .2500
      439,697.19                           .0800
            7.8750                         .0000
            7.6250                         .1500
            7.3950                         .0000
            6.6000                         .7950
 
      2761894                              .2500
      275,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2761895                              .2500
      251,605.65                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761896                              .2500
      247,611.89                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761897                              .2500
      314,754.27                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2761898                              .2500
      394,676.22                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2761900                              .2500
      278,350.00                           .0300
            6.5000                         .0000
            6.2500                         .1500
            6.0700                         .0000
            6.0700                         .0000
1
 
 
 
      2761901                              .2500
      343,900.00                           .0800
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      2761904                              .2500
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      2761905                              .2500
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      2761906                              .2500
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      2761907                              .2500
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      2761908                              .2500
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      2761910                              .2500
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      2761911                              .2500
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1
 
 
 
      2761912                              .2500
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      2761913                              .2500
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      2761917                              .2500
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      2761919                              .2500
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      2761920                              .2500
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      2761921                              .2500
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      2761922                              .2500
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      2761924                              .2500
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1
 
 
 
      2761925                              .2500
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      2761931                              .2500
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      2761932                              .2500
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      2761933                              .2500
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      2761935                              .2500
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      2761938                              .2500
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      2761941                              .2500
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1
 
 
 
      2761942                              .2500
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      2762086                              .2500
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      2762549                              .2500
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      2762568                              .2500
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      2762570                              .2500
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      2762575                              .2500
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      2762580                              .2500
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      2762583                              .2500
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1
 
 
 
      2763044                              .2500
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      2763048                              .2500
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      2763049                              .2500
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      2763052                              .2500
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      2763066                              .2500
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      2763696                              .2500
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      2763701                              .2500
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      2763703                              .2500
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1
 
 
 
      2763707                              .2500
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      2763710                              .2500
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      2764088                              .2500
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      2764092                              .2500
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      2764690                              .2500
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      2764701                              .2500
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      2764712                              .2500
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      2764714                              .2500
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1
 
 
 
      2764721                              .2500
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      2764725                              .2500
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      2764743                              .2500
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      2764747                              .2500
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      2764748                              .2500
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      2765288                              .2500
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      2765293                              .2500
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      2765295                              .2500
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1
 
 
 
      2765322                              .2500
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      2765343                              .2500
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      2765351                              .2500
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      2765437                              .2500
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      2765439                              .2500
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      2766211                              .2500
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      2766212                              .2500
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      2767080                              .2500
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1
 
 
 
      2767083                              .2500
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      2767085                              .2500
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      2767086                              .2500
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      2767088                              .2500
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      2767090                              .2500
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      2767091                              .2500
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      2767094                              .2500
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      2767095                              .2500
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1
 
 
 
      2767096                              .2500
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      2767099                              .2500
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      2767100                              .2500
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      2767102                              .2500
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      2767103                              .2500
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      2767104                              .2500
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      2767105                              .2500
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      2767108                              .2500
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1
 
 
 
      2767109                              .2500
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      2767110                              .2500
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      2767111                              .2500
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      2767115                              .2500
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      2767117                              .2500
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      2767118                              .2500
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      2767119                              .2500
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      2767121                              .2500
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1
 
 
 
      2767125                              .2500
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      2767126                              .2500
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      2767127                              .2500
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      2767130                              .2500
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      2767132                              .2500
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      2767134                              .2500
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      2767135                              .2500
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      2767136                              .2500
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1
 
 
 
      2767138                              .2500
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      2767139                              .2500
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      2767140                              .2500
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      2767143                              .2500
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      2767145                              .2500
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      2767146                              .2500
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      2767148                              .2500
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      2767149                              .2500
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1
 
 
 
      2767150                              .2500
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      2767151                              .2500
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      2767154                              .2500
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      2767155                              .2500
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      2767159                              .2500
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      2767160                              .2500
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      2767164                              .2500
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      2767165                              .2500
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1
 
 
 
      2767167                              .2500
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      2767168                              .2500
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      2767169                              .2500
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      2767170                              .2500
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      2767172                              .2500
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      2767173                              .2500
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      2767174                              .2500
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      2767175                              .2500
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            6.6000                         .2950
1
 
 
 
      2767176                              .2500
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      2767177                              .2500
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      2767179                              .2500
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      2767184                              .2500
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      2767185                              .2500
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      2767187                              .2500
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      2767189                              .2500
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      2767190                              .2500
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1
 
 
 
      2767192                              .2500
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      2767193                              .2500
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      2767194                              .2500
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            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2767195                              .2500
      251,688.37                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2767199                              .2500
      584,543.64                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2767200                              .2500
      296,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2767201                              .2500
      292,765.69                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2767204                              .2500
      267,774.85                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
1
 
 
 
      2767208                              .2500
      495,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2767209                              .2500
      649,999.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2767210                              .2500
      312,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2767212                              .2500
      278,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2767213                              .2500
      399,672.12                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2767217                              .2500
      256,500.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2767218                              .2500
      278,032.93                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2767219                              .2500
      308,000.00                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
1
 
 
 
      2767221                              .2500
      280,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2767222                              .2500
      263,299.50                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2767223                              .2500
      382,500.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      2767225                              .2500
      401,500.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2767227                              .2500
      248,274.32                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2767229                              .2500
      298,500.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2767232                              .2500
      257,304.07                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2767233                              .2500
      283,800.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
1
 
 
 
      2767234                              .2500
      339,728.10                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2767410                              .2500
      298,850.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2767413                              .2500
      283,200.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2767416                              .2500
      460,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2767422                              .2500
       83,500.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2767525                              .2500
      230,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2767551                              .2500
      346,500.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2767557                              .2500
       90,000.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      2767945                              .2500
      268,800.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2768060                              .2500
      405,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2768061                              .2500
      230,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2768062                              .2500
      292,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      2768063                              .2500
      132,700.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2768065                              .2500
      280,000.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      2768802                              .2500
      208,400.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2768803                              .2500
      180,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
1
 
 
 
      2768847                              .2500
      165,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2768853                              .2500
      516,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2768874                              .2500
      180,000.00                           .0800
            7.1250                         .0000
            6.8750                         .1500
            6.6450                         .0000
            6.6000                         .0450
 
      2769646                              .2500
      528,000.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
      2769655                              .2500
      260,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2769656                              .2500
      134,800.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2769690                              .2500
      729,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      2769694                              .2500
    1,600,000.00                           .0800
            7.7500                         .0000
            7.5000                         .1500
            7.2700                         .0000
            6.6000                         .6700
1
 
 
 
      2769715                              .2500
      592,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2769744                              .2500
      352,000.00                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      2770356                              .2500
      450,000.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2770364                              .2500
      152,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2770382                              .2500
      264,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      2770416                              .2500
      269,750.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      2770427                              .2500
      270,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      2770435                              .2500
      179,600.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
1
 
 
 
      2770518                              .2500
      258,950.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2770522                              .2500
      336,000.00                           .0300
            6.3750                         .0000
            6.1250                         .1500
            5.9450                         .0000
            5.9450                         .0000
 
      2770525                              .2500
      307,900.00                           .0300
            6.7500                         .0000
            6.5000                         .1500
            6.3200                         .0000
            6.3200                         .0000
 
      2771157                              .2500
      192,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2771233                              .2500
      215,200.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2771257                              .2500
      184,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      2771261                              .2500
      120,000.00                           .0800
            7.3750                         .0000
            7.1250                         .1500
            6.8950                         .0000
            6.6000                         .2950
 
      2771393                              .2500
      383,400.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
1
 
 
 
      2771822                              .2500
      211,500.00                           .0800
            7.7500                         .0000
            7.5000                         .1500
            7.2700                         .0000
            6.6000                         .6700
 
      2771827                              .2500
      232,000.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2771888                              .2500
      247,900.00                           .0300
            6.8750                         .0000
            6.6250                         .1500
            6.4450                         .0000
            6.4450                         .0000
 
      2771889                              .2500
      479,200.00                           .0800
            7.2500                         .0000
            7.0000                         .1500
            6.7700                         .0000
            6.6000                         .1700
 
      2771890                              .2500
      335,200.00                           .0300
            7.0000                         .0000
            6.7500                         .1500
            6.5700                         .0000
            6.5700                         .0000
 
      2771891                              .2500
      345,000.00                           .0800
            7.5000                         .0000
            7.2500                         .1500
            7.0200                         .0000
            6.6000                         .4200
 
      2771892                              .2500
      345,000.00                           .0300
            6.5000                         .0000
            6.2500                         .1500
            6.0700                         .0000
            6.0700                         .0000
1
 
 
 
      2771893                              .2500
      296,300.00                           .0800
            7.6250                         .0000
            7.3750                         .1500
            7.1450                         .0000
            6.6000                         .5450
 
  TOTAL NUMBER OF LOANS:     1646
  TOTAL BALANCE........:        525,765,797.88
 
 
1
 
  RUN ON     : 04/27/99            RFC DISCLOSURE SYSTEM      RFFSDFIX-01
  AT         : 13.21.11            INITIAL SECURITY FEES      AMORTIZED BALANCE
  SERIES     : RFMSI 1999-S9        FIXED SUMMARY REPORT      CUTOFF : 04/01/99
  POOL       : 0004369
             :
             :
  POOL STATUS: F
 
                                   WEIGHTED AVERAGES      FROM         TO
  ------------------------------------------------------------------------
  CURR NOTE RATE                        7.1375            6.3750      8.1250
  RFC NET RATE                          6.8875            6.1250      7.8750
  NET MTG RATE(INVSTR RATE)             6.6784            5.9450      7.6450
  POST STRIP RATE                       6.5363            5.9450      6.6000
  SUB SERV FEE                           .2500             .2500       .2500
  MSTR SERV FEE                          .0591             .0300       .0800
  ALL EXP                                .0000             .0000       .0000
  MISC EXP                               .1500             .1500       .1500
  SPREAD                                 .0000             .0000       .0000
  STRIP                                  .1421             .0000      1.0450
 
 
 
 
 
 
 
  TOTAL NUMBER OF LOANS:  1646
  TOTAL BALANCE........:     525,765,797.88
 
 
                             ***************************
                             *      END OF REPORT      *
                             ***************************



<PAGE>







                                  EXHIBIT G

FORM OF SELLER/SERVICER CONTRACT

            This  Seller/Servicer  Contract (as may be amended,  supplemented or
otherwise  modified from time to time,  this  "Contract") is made this _________
day of _______,  19____, by and between  Residential  Funding  Corporation,  its
successors and assigns ("Residential  Funding") and  _____________________  (the
"Seller/Servicer,"  and,  together with Residential  Funding,  the "parties" and
each, individually, a "party").

            WHEREAS,  the  Seller/Servicer  desires  to sell  Loans  to,  and/or
service Loans for,  Residential  Funding,  and  Residential  Funding  desires to
purchase Loans from the Seller/Servicer and/or have the Seller/Servicer  service
various of its Loans, pursuant to the terms of this Contract and the Residential
Funding Seller and Servicer Guides incorporated herein by reference, as amended,
supplemented or otherwise modified, from time to time (together, the "Guides").

            NOW,  THEREFORE,  in consideration  of the premises,  and the terms,
conditions and agreements set forth below, the parties agree as follows:

(1)   Incorporation of Guides by Reference.

            The  Seller/Servicer  acknowledges that it has received and read the
Guides. All provisions of the Guides are incorporated by reference into and made
a part of this  Contract,  and  shall be  binding  upon the  parties;  provided,
however,  that the  Seller/Servicer  shall be  entitled  to sell Loans to and/or
service Loans for  Residential  Funding only if and for so long as it shall have
been authorized to do so by Residential  Funding in writing.  Specific reference
in this  Contract  to  particular  provisions  of the  Guides  and not to  other
provisions  does not mean that those  provisions of the Guides not  specifically
cited in this Contract are not applicable.  All terms used herein shall have the
same  meanings  as such terms have in the  Guides,  unless the  context  clearly
requires otherwise.

(2)   Amendments.

            This  Contract  may  not  be  amended  or  modified  orally,  and no
provision of this Contract may be waived or amended  except in writing signed by
the party against whom enforcement is sought. Such a written waiver or amendment
must expressly reference this Contract.  However, by their terms, the Guides may
be amended or  supplemented  by Residential  Funding from time to time. Any such
amendment(s) to the Guides shall be binding upon the parties hereto.

(3)   Representations and Warranties.

      (A)    Reciprocal Representations and Warranties.

             The  Seller/Servicer  and  Residential  Funding each represents and
warrants to the other that as of the date of this Contract:

     (i) Each party is duly organized, validly existing, and in good standing




                        G-1




<PAGE>







             under the laws of its jurisdiction of  organization,  is qualified,
             if  necessary,  to  do  business  and  in  good  standing  in  each
             jurisdiction  in which it is required to be so  qualified,  and has
             the  requisite  power and authority to enter into this Contract and
             all other agreements which are contemplated by this Contract and to
             carry out its obligations  hereunder and under the Guides and under
             such other agreements.

                  (ii) This  Contract  has been duly  authorized,  executed  and
             delivered by each party 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, and no basis therefor is known to either party, that
             could affect the validity or prospective validity of this Contract.

                  (iv) Insofar as its capacity to carry out any obligation under
             this  Contract is  concerned,  neither party is in violation of any
             charter,  articles of incorporation,  bylaws, mortgage,  indenture,
             indebtedness,   agreement,  instrument,  judgment,  decree,  order,
             statute,  rule or regulation  and none of the  foregoing  adversely
             affects its capacity to fulfill any of its  obligations  under this
             Contract.  Its  execution  of, and  performance  pursuant  to, this
             Contract will not result in a violation of any of the foregoing.

      (B) Seller/Servicer's Representations, Warranties and Covenants.

            In addition to the representations, warranties and covenants made by
            the  Seller/Servicer  pursuant to subparagraph (a) of this paragraph
            3, the  Seller/Servicer  makes the  representations,  warranties and
            covenants  set forth in the  Guides  and,  upon  request,  agrees to
            deliver to Residential Funding the certified  Resolution of Board of
            Directors  which  authorizes  the  execution  and  delivery  of this
            Contract.

(4)   Remedies of Residential Funding.

            If an Event of Seller Default or an Event of Servicer  Default shall
occur,  Residential  Funding  may, at its option,  exercise one or more of those
remedies set forth in the Guides.

(5)   Seller/Servicer's Status as Independent Contractor.

            At no time shall the Seller/Servicer  represent that it is acting as
an agent of Residential Funding. The Seller/Servicer shall, at all times, act as
an independent contractor.

(6)   Prior Agreements Superseded.

            This  Contract  restates,  amends and  supersedes  any and all prior
Seller  Contracts  or Servicer  Contracts  between  the parties  except that any
subservicing  agreement  executed by the  Seller/Servicer in connection with any
loan-security exchange transaction shall not be affected.

(7)   Assignment.




                        G-2




<PAGE>







            This  Contract  may not be assigned or  transferred,  in whole or in
part, by the  Seller/Servicer  without the prior written  consent of Residential
Funding. Residential Funding may sell, assign, convey, hypothecate, pledge or in
any other way transfer,  in whole or in part,  without  restriction,  its rights
under this Contract and the Guides with respect to any Commitment or Loan.

(8)   Notices.

            All notices,  requests,  demands or other communications that are to
be given under this Contract shall be in writing,  addressed to the  appropriate
parties and sent by  telefacsimile  or by overnight  courier or by United States
mail,  postage prepaid,  to the addresses and  telefacsimile  numbers  specified
below.  However,  another  name,  address  and/or  telefacsimile  number  may be
substituted  by  the  Seller/Servicer  pursuant  to  the  requirements  of  this
paragraph 8, or Residential Funding pursuant to an amendment to the Guides.

            If to Residential  Funding,  notices must be sent to the appropriate
address or telefacsimile number specified in the Guides.

If to the Seller/Servicer, notice must be sent to:






Attention:                               

Telefacsimile Number:  (_____) _____-________

(9)   Jurisdiction and Venue.

            Each of the parties  irrevocably  submits to the jurisdiction of any
state or federal court located in Hennepin County,  Minnesota,  over any action,
suit or  proceeding  to  enforce  or defend any right  under  this  Contract  or
otherwise  arising  from any loan sale or  servicing  relationship  existing  in
connection with this Contract,  and each of the parties  irrevocably agrees that
all  claims  in  respect  of any  such  action  or  proceeding  may be  heard or
determined  in such  state or federal  court.  Each of the  parties  irrevocably
waives  the  defense of an  inconvenient  forum to the  maintenance  of any such
action or proceeding and any other  substantive or procedural rights or remedies
it may have with respect to the  maintenance of any such action or proceeding in
any such  forum.  Each of the parties  agrees that a final  judgment in any such
action  or  proceeding  shall be  conclusive  and may be  enforced  in any other
jurisdiction  by suit on the  judgment or in any other  manner  provided by law.
Each of the  parties  further  agrees  not to  institute  any legal  actions  or
proceedings  against  the  other  party  or  any  director,  officer,  employee,
attorney,  agent or property of the other  party,  arising out of or relating to
this Contract in any court other than as hereinabove specified in this paragraph
9.

(10)  Miscellaneous.

     This Contract,  including all documents  incorporated by reference  herein,
constitutes




                        G-3




<PAGE>







the entire  understanding  between the parties  hereto and  supersedes all other
agreements,   covenants,   representations,   warranties,   understandings   and
communications between the parties, whether written or oral, with respect to the
transactions  contemplated by this Contract.  All paragraph  headings  contained
herein  are for  convenience  only and  shall not be  construed  as part of this
Contract.  Any provision of this Contract that is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining portions
hereof or affecting  the  validity or  enforceability  of such  provision in any
other jurisdiction,  and, to this end, the provisions hereof are severable. This
Contract  shall be governed by, and construed  and enforced in accordance  with,
applicable federal laws and the laws of the State of Minnesota.




                        G-4




<PAGE>







          IN   WITNESS   WHEREOF,   the   duly   authorized   officers   of  the
Seller/Servicer  and  Residential  Funding have  executed  this  Seller/Servicer
Contract as of the date first above written.

ATTEST:                                   SELLER/SERVICER
[Corporate Seal]

                            (Name of Seller/Servicer)

By:                                       By:                              
      (Signature)                                     (Signature)



By:                                       By:                              
       (Typed Name)                                   (Typed Name)

Title:                                    Title:                           



ATTEST:                                   RESIDENTIAL FUNDING


                                          CORPORATION



By:                                       By:                              
      (Signature)                                     (Signature)



By:                                       By:                              
       (Typed Name)                                   (Typed Name)

Title:                                    Title:                           






                        G-5




<PAGE>






                                  EXHIBIT H

                         FORMS OF REQUEST FOR RELEASE

DATE:
TO:
RE:         REQUEST FOR RELEASE OF DOCUMENTS
In connection with the  administration of the pool of Mortgage Loans held by you
for the  referenced  pool,  we request  the  release of the  Mortgage  Loan File
described below.

Pooling and Servicing Agreement Dated:
Series#:
Account#:
Pool#:
Loan#:
Borrower Name(s):
Reason for Document Request: (circle one)       Mortgage Loan
Prepaid in Full
                                                Mortgage Loan Repurchased

"We hereby  certify  that all amounts  received or to be received in  connection
with such  payments  which are required to be deposited  have been or will be so
deposited as provided in the Pooling and Servicing Agreement."


Residential Funding Corporation
Authorized Signature
******************************************************************************
TO  CUSTODIAN/TRUSTEE:  Please acknowledge this request, and check off documents
being  enclosed  with a copy of this form.  You should retain this form for your
files in accordance with the terms of the Pooling and Servicing Agreement.

                        Enclosed Documents:    [ ] Promissory Note
                                               [ ] Primary Insurance Policy
                                               [ ] Mortgage or Deed of Trust
                                               [ ] Assignment(s) of Mortgage or
Deed of Trust
                                               [ ] Title Insurance Policy
                                               [ ] Other:         

Name

Title

Date



                        H-1



<PAGE>










                        H-2



<PAGE>





                                 EXHIBIT I-1

                   FORM OF TRANSFER 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 Mortgage  Pass-Through  Certificates,  Series  1999-S9,
Class R (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"  or an electing large  partnership as of [date of transfer] within
the  meaning of  Sections  860E(e)(5)  and 775,  respectively,  of the  Internal
Revenue Code of 1986, as amended (the "Code") or an electing  large  partnership
under  Section  775(a) of the Code,  (ii) will  endeavor to remain  other than a
disqualified  organization  for so long as it retains its ownership  interest in
the Class R  Certificates,  and (iii) is acquiring the Class R Certificates  for
its own account or for the account of another  Owner from which it has  received
an affidavit and agreement in substantially  the same form as this affidavit and
agreement.  (For this purpose, a "disqualified  organization"  means an electing
large partnership under Section 775 of the Code, the United States, any state or
political  subdivision  thereof,  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,  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 Class R  Certificates  to  disqualified  organizations  or electing
large  partnerships,  under the Code,  that applies to all  transfers of Class R
Certificates after March 31, 1988; (ii) that such tax would be on the transferor
(or,  with  respect to transfers to electing  large  partnerships,  on each such
partnership),  or, if such transfer is through an agent (which person includes a
broker,  nominee or middleman)  for a disqualified  organization,  on the agent;
(iii) that the person  (other than with respect to  transfers to electing  large
partnerships)  otherwise  liable for the tax shall be relieved of liability  for
the tax if the  transferee  furnishes  to such  person  an  affidavit  that  the
transferee is not a disqualified organization and, at the time of transfer, such
person does not have actual knowledge that the affidavit is false; and (iv) that
the Class R Certificates  may be  "noneconomic  residual  interests"  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,  unless no significant
purpose of the transfer was to impede the assessment or collection of

                                   I-1-1




<PAGE>





tax.

            (4) That the Owner is aware of the tax  imposed  on a  "pass-through
entity"  holding Class R Certificates  if either the  pass-through  entity is an
electing  large  partnership  under Section 775 of the if at any time during the
taxable  year of the  pass-through  entity a  disqualified  organization  is the
record holder of an interest in such entity.  (For this purpose, a "pass through
entity" includes a regulated  investment company, a real estate investment trust
or common trust fund, a partnership, trust or estate, and certain cooperatives.)

            (5) 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 (except in the
case of a partnership,  to the extent provided in Treasury  regulations),  or an
estate that is described in Section  7701(a)(30)(D) of the Code, or a trust that
is described in Section 7701(a)(30)(E) of the Code.

            (6) That the Owner is aware that the Trustee  will not  register the
transfer of any Class R Certificates unless the transferee,  or the transferee's
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.

            (7) That the Owner has  reviewed the  restrictions  set forth on the
face of the Class R Certificates  and the  provisions of Section  5.02(f) of the
Pooling and Servicing Agreement under which the Class R Certificates were issued
(in particular,  clause (iii)(A) and (iii)(B) of Section 5.02(f) 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 5.02(f)).  The Owner expressly agrees to be bound by and to
comply with such restrictions and provisions.

            (8)  That the  Owner  consents  to any  additional  restrictions  or
arrangements that shall be deemed necessary upon advice of counsel to constitute
a reasonable  arrangement to ensure that the Class R  Certificates  will only be
owned,  directly  or  indirectly,  by  an  Owner  that  is  not  a  disqualified
organization.

            (9) The Owner's Taxpayer Identification Number is ______________.

            (10)  This  affidavit  and  agreement  relates  only to the  Class R
Certificates  held by the  Owner  and not to any  other  holder  of the  Class R
Certificates. The Owner understands that the liabilities described herein relate
only to the Class R Certificates.

            (11) That no purpose of the Owner relating to the transfer of any of
the Class R Certificates  by the Owner is or will be to impede the assessment or
collection of any tax.

            (12) 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.  In this regard, the Owner hereby represents to
and for the benefit of the person from whom it acquired the Class R  Certificate
that the Owner intends to pay taxes associated with holding such Class R

                                   I-1-2




<PAGE>





Certificate  as they  become  due,  fully  understanding  that it may  incur tax
liabilities in excess of any cash flows generated by the Class R Certificate.

            (13) 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 Class R Certificates remain outstanding.

            (14) The  Purchaser  is not an employee  benefit  plan 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
Internal  Revenue  Code of 1986,  as  amended  (the  "Code"),  or an  investment
manager,  named  fiduciary  or a trustee of any such plan,  or any other  Person
acting, directly or indirectly,  on behalf of or purchasing any Certificate with
"plan assets" of any such plan.

                                   I-1-3




<PAGE>





            IN WITNESS  WHEREOF,  the Owner has  caused  this  instrument  to be
executed on its behalf,  pursuant to the authority of its Board of Directors, by
its [Title of Officer] and its corporate seal to be hereunto attached,  attested
by its [Assistant] Secretary, this ________ day of _______[Date].



                                    [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 ________[Date].



                                    NOTARY PUBLIC

                                    COUNTY OF 
                                    STATE OF 
                                    My  Commission   expires  the  ____  day  of
                                    _______________, 19__.


                                   I-1-4




<PAGE>





                                 EXHIBIT I-2

                        FORM OF TRANSFEROR CERTIFICATE

                           __________________, 19__

Residential Funding Mortgage
  Securities I, Inc.
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, Minnesota  55437

Bankers Trust Company
3 Park Plaza
Irvine, California  92614
Attention: Residential Funding Corporation Series 1999-S9

            Re:   Mortgage Pass-Through Certificates,
                 Series 1999-S9, Class R

Ladies and Gentlemen:

            This letter is delivered to you in  connection  with the transfer by
_______________________________            (the           "Seller")           to
_______________________________  (the  "Purchaser")  of  $_____________  Initial
Certificate  Principal  Balance of Mortgage  Pass-Through  Certificates,  Series
1999-S9,  Class R (the "Certificates"),  pursuant to Section 5.02 of the Pooling
and Servicing  Agreement  (the "Pooling and Servicing  Agreement"),  dated as of
April 1, 1999 among Residential  Funding Mortgage  Securities I, Inc., as seller
(the  "Company"),  Residential  Funding  Corporation,  as master  servicer,  and
Bankers Trust Company, as trustee (the "Trustee"). All terms used herein and not
otherwise defined shall have the meanings set forth in the Pooling and Servicing
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  transfer  of the
Certificate  by  the  Seller  to the  Purchaser  is or  will  be to  impede  the
assessment or collection of any tax.

            (2) The Seller  understands  that the Purchaser has delivered to the
Trustee and the Master  Servicer a transfer  affidavit and agreement in the form
attached to the Pooling and Servicing  Agreement as Exhibit I-1. The Seller does
not know or believe that any representation contained therein is false.

            (3)  The  Seller  has  at  the  time  of the  transfer  conducted  a
reasonable  investigation  of  the  financial  condition  of  the  Purchaser  as
contemplated by Treasury Regulations Section 1.860E- 1(c)(4)(i) and, as a result
of that  investigation,  the  Seller  has  determined  that  the  Purchaser  has
historically  paid its debts as they  become  due and has  found no  significant
evidence to indicate  that the  Purchaser  will not continue to pay its debts as
they become due in the future. The Seller

                                   I-2-1




<PAGE>





understands  that the transfer of a Class R Certificate may not be respected for
United  States income tax purposes (and the Seller may continue to be liable for
United States income taxes associated therewith) unless the Seller has conducted
such an investigation.

            (4) The Seller has no actual knowledge that the proposed  Transferee
is not both a United States Person and a Permitted Transferee.

                                    Very truly yours,



                                    (Seller)


                                      By: 
                                     Name: 
                                     Title: 


                                   I-2-2




<PAGE>





                                 EXHIBIT J-1

                    FORM OF INVESTOR REPRESENTATION LETTER

                             ______________, 19__

Residential Funding Mortgage
  Securities I, Inc.
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, MN 55437

Residential Funding Corporation
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, MN 55437

Bankers Trust Company
3 Park Plaza
Irvine, California  92614
Attention:  Residential Funding Corporation Series 1999-S9

            Re:   Mortgage Pass-Through Certificates,
                 Series 1999-S9, [Class B-]

Ladies and Gentlemen:

            _________________________ (the "Purchaser") intends to purchase from
___________________________  (the "Seller")  $_____________  Initial Certificate
Principal Balance of Mortgage Pass-Through  Certificates,  Series 1999-S9, Class
__ (the "Certificates"),  issued pursuant to the Pooling and Servicing Agreement
(the  "Pooling  and  Servicing  Agreement"),  dated as of April  1,  1999  among
Residential  Funding  Mortgage  Securities I, Inc.,  as seller (the  "Company"),
Residential Funding Corporation, as master servicer (the "Master Servicer"), and
Bankers Trust Company, as trustee (the "Trustee"). All terms used herein and not
otherwise defined shall have the meanings set forth in the Pooling and Servicing
Agreement.  The  Purchaser  hereby  certifies,  represents  and warrants to, and
covenants with, the Company, the Trustee and the Master Servicer that:

            (1) The Purchaser  understands  that (a) the  Certificates  have not
been and will not be registered or qualified  under the  Securities Act of 1933,
as amended  (the  "Act") or any state  securities  law,  (b) the  Company is not
required to so register or qualify the Certificates, (c) the Certificates may be
resold only if registered and qualified pursuant to the provisions of the Act or
any  state  securities  law,  or if an  exemption  from  such  registration  and
qualification  is available,  (d) the Pooling and Servicing  Agreement  contains
restrictions regarding the transfer of the Certificates and (e) the Certificates
will bear a legend to the foregoing effect.

     (2) The  Purchaser is acquiring  the  Certificates  for its own account for
investment

                                   J-1-1




<PAGE>





only  and not  with a view to or for sale in  connection  with any  distribution
thereof  in any  manner  that  would  violate  the Act or any  applicable  state
securities laws.

            (3) The Purchaser is (a) a substantial,  sophisticated institutional
investor having such knowledge and experience in financial and business matters,
and,  in  particular,  in such  matters  related  to  securities  similar to the
Certificates,  such that it is  capable  of  evaluating  the merits and risks of
investment in the  Certificates,  (b) able to bear the economic risks of such an
investment  and (c) an "accredited  investor"  within the meaning of Rule 501(a)
promulgated pursuant to the Act.

            (4)  The  Purchaser  has  been  furnished   with,  and  has  had  an
opportunity  to review (a) [a copy of the Private  Placement  Memorandum,  dated
___________________,  19__,  relating  to the  Certificates  (b)] a copy  of the
Pooling and Servicing  Agreement and [b] [c] such other  information  concerning
the  Certificates,  the Mortgage  Loans and the Company as has been requested by
the Purchaser from the Company or the Seller and is relevant to the  Purchaser's
decision to purchase  the  Certificates.  The  Purchaser  has had any  questions
arising  from  such  review  answered  by  the  Company  or  the  Seller  to the
satisfaction  of  the  Purchaser.   [If  the  Purchaser  did  not  purchase  the
Certificates from the Seller in connection with the initial  distribution of the
Certificates  and was provided with a copy of the Private  Placement  Memorandum
(the  "Memorandum")  relating to the original sale (the "Original  Sale") of the
Certificates by the Company, the Purchaser acknowledges that such Memorandum was
provided to it by the Seller,  that the  Memorandum  was prepared by the Company
solely for use in  connection  with the  Original  Sale and the  Company did not
participate in or facilitate in any way the purchase of the  Certificates by the
Purchaser from the Seller,  and the Purchaser agrees that it will look solely to
the Seller and not to the Company with respect to any damage,  liability,  claim
or expense  arising out of,  resulting  from or in connection  with (a) error or
omission, or alleged error or omission,  contained in the Memorandum, or (b) any
information, development or event arising after the date of the Memorandum.]

            (5) The Purchaser has not and will not nor has it authorized or will
it  authorize  any person to (a) offer,  pledge,  sell,  dispose of or otherwise
transfer any  Certificate,  any interest in any Certificate or any other similar
security to any person in any manner,  (b) solicit any offer to buy or to accept
a pledge, disposition of other transfer of any Certificate,  any interest in any
Certificate  or any other similar  security  from any person in any manner,  (c)
otherwise approach or negotiate with respect to any Certificate, any interest in
any Certificate or any other similar security with any person in any manner, (d)
make any general  solicitation  by means of general  advertising or in any other
manner or (e) take any other  action,  that (as to any of (a) through (e) above)
would  constitute a distribution  of any  Certificate  under the Act, that would
render the disposition of any Certificate a violation of Section 5 of the Act or
any state  securities law, or that would require  registration or  qualification
pursuant thereto.  The Purchaser will not sell or otherwise  transfer any of the
Certificates,  except in  compliance  with the  provisions  of the  Pooling  and
Servicing Agreement.

                                   J-1-2




<PAGE>





            (6)   The Purchaser

                  (a) is not 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
            Internal  Revenue Code of 1986, as amended (a "Plan"),  or any other
            person  (including an  investment  manager,  a named  fiduciary or a
            trustee of any Plan) acting, directly or indirectly, on behalf of or
            purchasing any Certificate with "plan assets" of any Plan within the
            meaning of the Department of Labor ("DOL") regulation at 29 C.F.R. '
            2510.3-101; or

                  (b) is an insurance company, the source of funds to be used by
            it to purchase the  Certificates  is an "insurance  company  general
            account"  (within the meaning of DOL  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.

            In addition, the Purchaser hereby certifies, represents and warrants
to, and covenants  with, the Company,  the Trustee and the Master  Servicer that
the Purchaser will not transfer such  Certificates  to any Plan or person unless
such  Plan or  person  meets the  requirements  set forth in either  6(a) or (b)
above.

                                    Very truly yours,



                                      By: 
                                     Name: 
                                     Title: 


                                   J-1-3




<PAGE>





                                 EXHIBIT J-2

                     FORM OF ERISA REPRESENTATION LETTER

                              ____________, 19__

Residential Funding Mortgage
  Securities I, Inc.
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, Minnesota 55437

Residential Funding Corporation
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, Minnesota 55437

Bankers Trust Company
Four Albany Street
New York, New York  10006

Attention: Residential Funding Mortgage Securities I, Inc., Series 1999-S9

            Re:   Mortgage Pass-Through Certificates,
                 Series 1999-S9, Class M-[__]  

Ladies and Gentlemen:

            ____________________  (the  "Purchaser")  intends to  purchase  from
________________________   (the  "Seller")  $_____________  Initial  Certificate
Principal Balance of Mortgage Pass-Through  Certificates,  Series 1999-S9, Class
__ (the "Certificates"),  issued pursuant to the Pooling and Servicing Agreement
(the  "Pooling  and  Servicing  Agreement"),  dated as of April  1,  1999  among
Residential  Funding  Mortgage  Securities I, Inc.,  as seller (the  "Company"),
Residential Funding Corporation, as master servicer (the "Master Servicer"), and
Bankers Trust Company, as trustee (the "Trustee"). All terms used herein and not
otherwise defined shall have the meanings set forth in the Pooling and Servicing
Agreement.  The  Purchaser  hereby  certifies,  represents  and warrants to, and
covenants with, the Company, the Trustee and the Master Servicer that:

            (a) The  Purchaser is not 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
      Internal Revenue Code of 1986, as amended (a "Plan"),  or any other person
      (including an investment  manager,  a named  fiduciary or a trustee of any
      Plan)  acting,  directly or  indirectly,  on behalf of or  purchasing  any
      Certificate  with  "plan  assets" of any Plan  within  the  meaning of the
      Department of Labor ("DOL") regulation at 29 C.F.R. ' 2510.3-101; or

                                   J-2-1




<PAGE>







      (b) The Purchaser is an insurance company,  the source of funds to be used
      by it to  purchase  the  Certificates  is an  "insurance  company  general
      account" (within the meaning of DOL Prohibited Transaction Class Exemption
      ("PTCE")  95-60),  and the  conditions  set forth in Sections I and III of
      PTCE 95-60 have been satisfied.

            In addition, the Purchaser hereby certifies, represents and warrants
to, and covenants  with, the Company,  the Trustee and the Master  Servicer that
the Purchaser will not transfer such  Certificates  to any Plan or person unless
such Plan or person meets the requirements set forth in either (a) or (b) above.

                                    Very truly yours,


                                      By: 
                                     Name: 
                                     Title: 


                                   J-2-2




<PAGE>





                                 EXHIBIT J-3

                             FORM OF ERISA LEGEND

Each  beneficial  owner of a  book-entry  Class M  Certificate  (or any interest
therein) shall be deemed to have  represented,  by virtue of its  acquisition or
holding of such Certificate (or interest therein), that either:

           (a) it is not 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 Internal Revenue
    Code of 1986,  as amended (a  "Plan"),  or any other  person  (including  an
    investment  manager,  a named  fiduciary  or a trustee of any Plan)  acting,
    directly or  indirectly,  on behalf of or purchasing  any  Certificate  with
    "plan assets" of any Plan; or

           (b) (i) the  transferee is an insurance  company,  (ii) the source of
    funds to be used by it to purchase the Certificate is an "insurance  company
    general  account"  (within the  meaning of  Department  of Labor  Prohibited
    Transaction  Class Exemption  ("PTCE") 95-60),  and (iii) the conditions set
    forth in Sections I and III of PTCE 95-60 have been satisfied.

Any purported  beneficial owner of a book-entry Class M Certificate (or interest
therein) to whom either (a) or (b) above does not apply shall indemnify and hold
harmless the Company, the Trustee, the Master Servicer, any Subservicer, and the
Trust Fund from and against any and all liabilities,  claims,  costs or expenses
incurred  by such  parties  as a result of its  acquisition  or  holding of such
Certificate.



                                   J-3-1




<PAGE>






                                  EXHIBIT K

                   FORM OF TRANSFEROR REPRESENTATION LETTER

                         ____________________, 19____

Residential Funding Mortgage
  Securities I, Inc.
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, MN 55437

Bankers Trust Company
3 Park Plaza
Irvine, California  92614


Attention: Residential Funding Corporation Series 1999-S9

            Re:   Mortgage Pass-Through Certificates,
                  Series 1999-S9, [Class B-]

Ladies and Gentlemen:

            In  connection  with  the  sale by  ____________  the  "Seller")  to
______________  the "Purchaser") of $  _________________  Certificate  Principal
Balance  of  Mortgage  Pass-Through  Certificates,  Series  1999-S9,  Class (the
"Certificates"),  issued  pursuant to the Pooling and Servicing  Agreement  (the
"Pooling and Servicing Agreement"),  dated as of April 1, 1999 among Residential
Funding  Mortgage  Securities  I, Inc., as seller (the  "Company"),  Residential
Funding Corporation,  as master servicer,  and Bankers Trust Company, as trustee
(the "Trustee").  The Seller hereby  certifies,  represents and warrants to, and
covenants with, the Company and the Trustee that:

            Neither the Seller nor anyone  acting on its behalf has (a) offered,
pledged,  sold,  disposed  of or  otherwise  transferred  any  Certificate,  any
interest in any  Certificate or any other similar  security to any person in any
manner, (b) has solicited any offer to buy or to accept a pledge, disposition or
other transfer of any Certificate,  any interest in any Certificate or any other
similar security from any person in any manner, (c) has otherwise  approached or
negotiated with respect to any  Certificate,  any interest in any Certificate or
any other  similar  security  with any  person in any  manner,  (d) has made any
general  solicitation by means of general advertising or in any other manner, or
(e) has taken any other action,  that (as to any of (a) through (e) above) would
constitute a distribution of the  Certificates  under the Securities Act of 1933
(the "Act"), that would render the disposition of any Certificate a violation of
Section  5 of the  Act or any  state  securities  law,  or  that  would  require
registration or qualification  pursuant thereto. The Seller will not act, in any
manner set forth in the foregoing sentence with respect to any Certificate.  The
Seller has not and will not sell or otherwise  transfer any of the Certificates,
except in compliance with the provisions of the Pooling and Servicing Agreement.



                        K-1



<PAGE>






                                    Very truly yours,


                                    (Seller)


                                      By: 
                                     Name: 
                                     Title: 




                        K-2



<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 Master  Servicer  (as  defined in the Pooling and
Servicing  Agreement  (the  "Agreement"),  dated  as  of  April  1,  1999  among
Residential Funding Corporation as Master Servicer, Residential Funding Mortgage
Securities  I, Inc. as depositor  pursuant to Section 5.02 of the  Agreement and
Bankers Trust Company, as trustee, 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  been  furnished  with  all  information
            regarding the Rule 144A  Securities  that it has requested  from the
            Seller, the Trustee or the Servicer.

                   (D)  Neither  the Buyer nor  anyone  acting on its behalf has
            offered,  transferred,  pledged,  sold or otherwise  disposed of the
            Rule 144A Securities, any


                        L-1


<PAGE>





            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  completed
            either of the forms of  certification to that effect attached hereto
            as Annex 1 or Annex  2.  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.

            (3)   The Buyer

                       a. is not 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  Internal  Revenue  Code of 1986,  as
                  amended  (the   "Code")  (a  "Plan"),   or  any  other  person
                  (including  an  investment  manager,  a named  fiduciary  or a
                  trustee of any Plan) acting, directly or indirectly, on behalf
                  of or  purchasing  any  Certificate  with "plan assets" of any
                  Plan within the  meaning of the  Department  of Labor  ("DOL")
                  regulation at 29 C.F.R. ss.2510.3-101; or

                       b. is an  insurance  company,  the  source of funds to be
                  used  by it to  purchase  the  Certificates  is an  "insurance
                  company general account" (within the meaning of DOL Prohibited
                  Transaction Class Exemption  ("PTCE") 95-60), and the purchase
                  is  being  made  in  reliance  upon  the  availability  of the
                  exemptive  relief  afforded  under  Sections I and III of PTCE
                  95-60.]

            (4) This document may be executed in one or more counterparts and by
the different  parties hereto on separate  counterparts,  each of which, when so
executed, shall be deemed to be an original; such counterparts,  together, shall
constitute one and the same document.

     IN WITNESS  WHEREOF,  each of the parties has executed  this document as of
the


                        L-2


<PAGE>





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  $______________________  in securities (except for the
excluded  securities referred to below) as of the end of the Buyer's most recent
fiscal year (such amount being calculated in accordance with Rule 144A) and (ii)
the Buyer satisfies the criteria in the category marked below.

___   Corporation,  etc. The Buyer is a corporation  (other than a bank, savings
      and loan  association or similar  institution),  Massachusetts  or similar
      business  trust,  partnership,  or  charitable  organization  described in
      Section 501(c)(3) of the Internal Revenue Code.

___   Bank.  The Buyer (a) is a national bank or banking  institution  organized
      under the laws of any State,  territory or the  District of Columbia,  the
      business of which is  substantially  confined to banking and is supervised
      by the State or territorial banking commission or similar official or is a
      foreign bank or equivalent  institution,  and (b) has an audited net worth
      of at least  $25,000,000 as  demonstrated  in its latest annual  financial
      statements, a copy of which is attached hereto.

___   Savings  and  Loan.  The  Buyer  (a) is a  savings  and loan  association,
      building and loan association,  cooperative bank, homestead association or
      similar  institution,  which  is  supervised  and  examined  by a State or
      Federal  authority having  supervision over any such  institutions or is a
      foreign savings and loan association or equivalent institution and (b) has
      an audited net worth of at least $25,000,000 as demonstrated in its latest
      annual financial statements.

___  Broker-Dealer.  The Buyer is a dealer registered  pursuant to Section 15 of
     the Securities Exchange Act of 1934.

___   Insurance  Company.  The Buyer is an insurance  company  whose primary and
      predominant   business  activity  is  the  writing  of  insurance  or  the
      reinsuring  of risks  underwritten  by  insurance  companies  and which is
      subject to supervision by the insurance commissioner or a similar official
      or agency of a State or territory or the District of Columbia.

___  State or Local Plan.  The Buyer is a plan  established  and maintained by a
     State, its political subdivisions,  or any agency or instrumentality of the
     State or its political subdivisions, for


                        L-4


<PAGE>





      the benefit of its employees.

___   ERISA Plan.  The Buyer is an employee  benefit  plan within the meaning of
      Title I of the Employee Retirement Income Security Act of 1974.

___  Investment Adviser. The Buyer is an investment adviser registered under the
     Investment Advisers Act of 1940.

___  SBIC. The Buyer is a Small Business Investment Company licensed by the U.S.
     Small  Business  Administration  under  Section  301(c) or (d) of the Small
     Business Investment Act of 1958.

___  Business  Development  Company. The Buyer is a business development company
     as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.

___   Trust  Fund.  The Buyer is a trust fund  whose  trustee is a bank or trust
      company and whose  participants are exclusively (a) plans  established and
      maintained  by a State,  its  political  subdivisions,  or any  agency  or
      instrumentality  of the  State  or its  political  subdivisions,  for  the
      benefit of its employees, or (b) employee benefit plans within the meaning
      of Title I of the Employee  Retirement Income Security Act of 1974, but is
      not a trust  fund that  includes  as  participants  individual  retirement
      accounts or H.R. 10 plans.

            (3) The  term  "securities"  as used  herein  does not  include  (i)
securities of issuers that are affiliated  with the Buyer,  (ii) securities that
are part of an unsold allotment to or subscription by the Buyer, if the Buyer is
a dealer,  (iii) bank  deposit  notes and  certificates  of  deposit,  (iv) loan
participations,  (v) repurchase agreements, (vi) securities owned but subject to
a repurchase agreement and (vii) currency, interest rate and commodity swaps.

            (4) For purposes of determining  the aggregate  amount of securities
owned and/or invested on a discretionary  basis by the Buyer, the Buyer used the
cost of such  securities to the Buyer and did not include any of the  securities
referred to in the preceding  paragraph.  Further, in determining such aggregate
amount,  the Buyer may have included  securities  owned by  subsidiaries  of the
Buyer,  but only if such  subsidiaries  are  consolidated  with the Buyer in its
financial  statements  prepared in accordance with generally accepted accounting
principles  and if the  investments of such  subsidiaries  are managed under the
Buyer's direction.  However, such securities were not included if the Buyer is a
majority-owned,  consolidated  subsidiary of another enterprise and the Buyer is
not itself a reporting company under the Securities Exchange Act of 1934.

            (5) The Buyer  acknowledges  that it is familiar  with Rule 144A and
understands  that the seller to it and other parties related to the Certificates
are relying and will continue to rely on the statements  made herein because one
or more sales to the Buyer may be in reliance on Rule 144A.

  ___  ___        Will the Buyer be purchasing the Rule 144A
  Yes  No         Securities only for the Buyer's own account?

            (6) If the  answer  to the  foregoing  question  is "no",  the Buyer
agrees that, in connection with any purchase of securities sold to the Buyer for
the account of a third party


                        L-5


<PAGE>





(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-6


<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.


                        L-7


<PAGE>





            (6) The  undersigned  will  notify each of the parties to which this
certification is made of any changes in the information and conclusions  herein.
Until such notice,  the Buyer's purchase of Rule 144A Securities will constitute
a reaffirmation of this  certification by the undersigned as of the date of such
purchase.


                                    Print Name of Buyer

                                      By: 
                                     Name: 
                                     Title: 

                                    IF AN ADVISER:


                                    Print Name of Buyer


                                     Date: 



                        L-8


<PAGE>





                                  EXHIBIT M

                 [TEXT OF AMENDMENT TO POOLING AND SERVICING
                 AGREEMENT PURSUANT TO SECTION 11.01(e) FOR A
                              LIMITED GUARANTY]

ARTICLE XII

           Subordinate Certificate Loss Coverage; Limited Guaranty

     SECTION 12.01. Subordinate Certificate Loss Coverage; Limited Guaranty. (a)
Subject to subsection  (c) below,  prior to the later of the third  Business Day
prior to each  Distribution Date or the related  Determination  Date, the Master
Servicer shall determine  whether it or any Subservicer  will be entitled to any
reimbursement pursuant to Section 4.02(a) on such Distribution Date for Advances
or  Subservicer  Advances  previously  made,  (which  will  not be  Advances  or
Subservicer  Advances  that were made with respect to  delinquencies  which were
subsequently determined to be Excess Special Hazard Losses, Excess Fraud Losses,
Excess  Bankruptcy  Losses or  Extraordinary  Losses)  and,  if so,  the  Master
Servicer shall demand payment from Residential Funding of an amount equal to the
amount of any Advances or Subservicer  Advances  reimbursed  pursuant to Section
4.02(a),  to the extent such  Advances  or  Subservicer  Advances  have not been
included in the amount of the Realized Loss in the related  Mortgage  Loan,  and
shall distribute the same to the Class B  Certificateholders  in the same manner
as if such amount were to be distributed pursuant to Section 4.02(a).

           (b) Subject to subsection (c) below,  prior to the later of the third
      Business Day prior to each Distribution Date or the related  Determination
      Date, the Master  Servicer  shall  determine  whether any Realized  Losses
      (other than Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess
      Fraud  Losses and  Extraordinary  Losses) will be allocated to the Class B
      Certificates on such  Distribution  Date pursuant to Section 4.05, and, if
      so, the Master Servicer shall demand payment from  Residential  Funding of
      the  amount of such  Realized  Loss and shall  distribute  the same to the
      Class B Certificateholders in the same manner as if such amount were to be
      distributed  pursuant  to Section  4.02(a);  provided,  however,  that the
      amount of such  demand in  respect  of any  Distribution  Date shall in no
      event be  greater  than the sum of (i) the  additional  amount of  Accrued
      Certificate   Interest   that  would  have  been  paid  for  the  Class  B
      Certificateholders  on such  Distribution  Date had such  Realized Loss or
      Losses  not  occurred  plus  (ii)  the  amount  of  the  reduction  in the
      Certificate  Principal  Balances  of the  Class  B  Certificates  on  such
      Distribution  Date due to such  Realized  Loss or Losses.  Notwithstanding
      such payment,  such Realized  Losses shall be deemed to have been borne by
      the Certificateholders for purposes of Section 4.05. Excess Special Hazard
      Losses,  Excess Fraud Losses,  Excess  Bankruptcy Losses and Extraordinary
      Losses  allocated to the Class B  Certificates  will not be covered by the
      Subordinate Certificate Loss Obligation.

           (c) Demands for payments pursuant to this Section shall be made prior
      to the later of the third Business Day prior to each  Distribution Date or
      the related  Determination Date by the Master Servicer with written notice
      thereof to the Trustee.  The maximum amount that Residential Funding shall
      be required to pay pursuant to this Section on any Distribution  Date (the
      "Amount Available") shall be equal to the lesser of (X) minus the sum


                        M-1


<PAGE>





      of (i) all previous payments made under subsections (a) and (b) hereof and
      (ii) all draws under the Limited Guaranty made in lieu of such payments as
      described below in subsection (d) and (Y) the then outstanding Certificate
      Principal  Balances of the Class B  Certificates,  or such lower amount as
      may be  established  pursuant  to  Section  12.02.  Residential  Funding's
      obligations  as  described  in this  Section are referred to herein as the
      "Subordinate Certificate Loss Obligation."

           (d) The  Trustee  will  promptly  notify  General  Motors  Acceptance
      Corporation  of any failure of  Residential  Funding to make any  payments
      hereunder and shall demand payment  pursuant to the limited  guaranty (the
      "Limited Guaranty"), executed by General Motors Acceptance Corporation, of
      Residential  Funding's  obligation  to  make  payments  pursuant  to  this
      Section,  in an amount equal to the lesser of (i) the Amount Available and
      (ii) such required  payments,  by delivering to General Motors  Acceptance
      Corporation a written demand for payment by wire transfer,  not later than
      the second  Business  Day prior to the  Distribution  Date for such month,
      with a copy to the Master Servicer.

           (e) All payments made by Residential Funding pursuant to this Section
      or amounts paid under the Limited Guaranty shall be deposited  directly in
      the Certificate  Account,  for distribution on the  Distribution  Date for
      such month to the Class B Certificateholders.

           (f) The Company  shall have the option,  in its sole  discretion,  to
      substitute for either or both of the Limited  Guaranty or the  Subordinate
      Certificate Loss Obligation  another instrument in the form of a corporate
      guaranty, an irrevocable letter of credit, a surety bond, insurance policy
      or similar  instrument  or a reserve  fund;  provided that (i) the Company
      obtains  (subject to the provisions of Section  10.01(f) as if the Company
      was  substituted  for the Master  Servicer solely for the purposes of such
      provision)  an  Opinion  of  Counsel  (which  need  not be an  opinion  of
      Independent   counsel)  to  the  effect  that  obtaining  such  substitute
      corporate guaranty,  irrevocable letter of credit,  surety bond, insurance
      policy or similar instrument or reserve fund will not cause either (a) any
      federal tax to be imposed on the Trust Fund, including without limitation,
      any  federal  tax  imposed  on  "prohibited  transactions"  under  Section
      860(F)(a)(1)  of the Code or on  "contributions  after the  startup  date"
      under Section  860(G)(d)(1)  of the Code or (b) either REMIC I or REMIC II
      to  fail to  qualify  as a REMIC  at any  time  that  any  Certificate  is
      outstanding,  and (ii) no such  substitution  shall be made unless (A) the
      substitute Limited Guaranty or Subordinate  Certificate Loss Obligation is
      for an initial amount not less than the then current Amount  Available and
      contains  provisions that are in all material  respects  equivalent to the
      original  Limited  Guaranty or  Subordinate  Certificate  Loss  Obligation
      (including  that  no  portion  of  the  fees,   reimbursements   or  other
      obligations  under any such  instrument  will be borne by the Trust Fund),
      (B) the long  term  debt  obligations  of any  obligor  of any  substitute
      Limited  Guaranty  or  Subordinate  Certificate  Loss  Obligation  (if not
      supported by the Limited  Guaranty)  shall be rated at least the lesser of
      (a) the  rating  of the long  term  debt  obligations  of  General  Motors
      Acceptance  Corporation as of the date of issuance of the Limited Guaranty
      and (b) the rating of the long term debt  obligations  of  General  Motors
      Acceptance  Corporation  at the  date  of  such  substitution  and (C) the
      Company  obtains  written  confirmation  from each  nationally  recognized
      credit rating agency that rated the Class B Certificates at the request of
      the Company that such substitution shall not lower the rating on the Class
      B Certificates


                        M-2


<PAGE>





      below the lesser of (a) the  then-current  rating  assigned to the Class B
      Certificates by such rating agency and (b) the original rating assigned to
      the Class B  Certificates  by such rating agency.  Any  replacement of the
      Limited Guaranty or Subordinate  Certificate  Loss Obligation  pursuant to
      this Section shall be accompanied  by a written  Opinion of Counsel to the
      substitute guarantor or obligor,  addressed to the Master Servicer and the
      Trustee,  that such substitute  instrument  constitutes a legal, valid and
      binding obligation of the substitute guarantor or obligor,  enforceable in
      accordance with its terms, and concerning such other matters as the Master
      Servicer and the Trustee shall  reasonably  request.  Neither the Company,
      the Master  Servicer nor the Trustee shall be obligated to substitute  for
      or replace the Limited Guaranty or Subordinate Certificate Loss Obligation
      under any circumstance.

     SECTION 12.02. Amendments Relating to the Limited Guaranty. Notwithstanding
Section 11.01 or 12.01:  (i) the  provisions of this Article XII may be amended,
superseded or deleted, (ii) the Limited Guaranty or Subordinate Certificate Loss
Obligation may be amended, reduced or canceled, and (iii) any other provision of
this Agreement  which is related or incidental to the matters  described in this
Article  XII may be amended in any  manner;  in each case by written  instrument
executed or consented to by the Company and Residential  Funding but without the
consent of any  Certificateholder and without the consent of the Master Servicer
or the  Trustee  being  required  unless  any such  amendment  would  impose any
additional  obligation on, or otherwise  adversely  affect the interests of, the
Master Servicer or the Trustee,  as applicable;  provided that the Company shall
also obtain a letter from each nationally  recognized  credit rating agency that
rated the Class B Certificates  at the request of the Company to the effect that
such amendment, reduction, deletion or cancellation will not lower the rating on
the  Class B  Certificates  below  the  lesser  of (a) the  then-current  rating
assigned to the Class B Certificates  by such rating agency and (b) the original
rating  assigned to the Class B Certificates  by such rating agency,  unless (A)
the  Holder of 100% of the Class B  Certificates  is  Residential  Funding or an
Affiliate of Residential Funding, or (B) such amendment,  reduction, deletion or
cancellation is made in accordance with Section  11.01(e) and,  provided further
that the Company  obtains  (subject to the provisions of Section  10.01(f) as if
the Company was  substituted  for the Master Servicer solely for the purposes of
such provision),  in the case of a material amendment or supercession (but not a
reduction,  cancellation or deletion of the Limited  Guaranty or the Subordinate
Certificate  Loss  Obligation),  an  Opinion of  Counsel  (which  need not be an
opinion  of  Independent  counsel)  to the  effect  that any such  amendment  or
supercession  will not cause  either  (a) any  federal  tax to be imposed on the
Trust Fund, including without limitation, any federal tax imposed on "prohibited
transactions"  under Section  860F(a)(1) of the Code or on "contributions  after
the startup date" under Section 860G(d)(1) of the Code or (b) cause either REMIC
I or REMIC II to fail to qualify as a REMIC at any time that any  Certificate is
outstanding.  A copy of any such instrument shall be provided to the Trustee and
the Master  Servicer  together  with an Opinion of Counsel  that such  amendment
complies with this Section 12.02.




                        M-3


<PAGE>






                                  EXHIBIT N

                          [FORM OF LIMITED GUARANTY]

                               LIMITED GUARANTY

               RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.

                      Mortgage Pass-Through Certificates
                                Series 1999-S9

                                    [Date]

Bankers Trust Company
3 Park Plaza
Irvine, California  92614


Attention: Residential Funding Corporation Series 1999-S9

Ladies and Gentlemen:

            WHEREAS,  Residential Funding  Corporation,  a Delaware  corporation
("Residential  Funding"),  an indirect wholly-owned subsidiary of General Motors
Acceptance Corporation,  a New York corporation ("GMAC"), plans to incur certain
obligations  as  described  under  Section  12.01 of the Pooling  and  Servicing
Agreement  dated  as  of  April  1,  1999  (the  "Servicing  Agreement"),  among
Residential  Funding Mortgage  Securities I, Inc. (the  "Company"),  Residential
Funding and Bankers  Trust  Company (the  "Trustee") as amended by Amendment No.
___  thereto,  dated as of ________,  with respect to the Mortgage  Pass-Through
Certificates, Series 1999-S9 (the "Certificates"); and

            WHEREAS,  pursuant  to  Section  12.01 of the  Servicing  Agreement,
Residential  Funding  agrees  to make  payments  to the  Holders  of the Class B
Certificates  with respect to certain  losses on the Mortgage Loans as described
in the Servicing Agreement; and

            WHEREAS,  GMAC desires to provide certain assurances with respect to
the ability of Residential  Funding to secure sufficient funds and faithfully to
perform its Subordinate Certificate Loss Obligation;

            NOW THEREFORE, in consideration of the premises herein contained and
certain  other good and valuable  consideration,  the receipt of which is hereby
acknowledged, GMAC agrees as follows:

            (1) Provision of Funds. GMAC agrees to contribute and deposit in the
Certificate  Account on behalf of Residential  Funding (or otherwise  provide to
Residential  Funding, or to cause to be made available to Residential  Funding),
either  directly  or  through a  subsidiary,  in any case  prior to the  related
Distribution  Date,  such moneys as may be required  by  Residential  Funding to
perform its Subordinate  Certificate Loss Obligation when and as the same arises
from time to time upon the



                        N-1



<PAGE>






     demand of the Trustee in  accordance  with Section  12.01 of the  Servicing
     Agreement.

                  (A) The agreement set forth in the preceding  clause (a) shall
            be absolute, irrevocable and unconditional and shall not be affected
            by the  transfer  by GMAC or any other  person of all or any part of
            its or their interest in  Residential  Funding,  by any  insolvency,
            bankruptcy,  dissolution or other proceeding  affecting  Residential
            Funding  or  any  other   person,   by  any   defense  or  right  of
            counterclaim,  set-off  or  recoupment  that  GMAC may have  against
            Residential  Funding  or any other  person  or by any other  fact or
            circumstance.  Notwithstanding  the  foregoing,  GMAC's  obligations
            under   clause  (a)  shall   terminate   upon  the  earlier  of  (x)
            substitution for this Limited Guaranty  pursuant to Section 12.01(f)
            of the Servicing Agreement, or (y) the termination of the Trust Fund
            pursuant to the Servicing Agreement.

            (2) Waiver.  GMAC hereby  waives any failure or delay on the part of
Residential  Funding,  the Trustee or any other person in asserting or enforcing
any  rights or in making  any  claims or demands  hereunder.  Any  defective  or
partial  exercise of any such  rights  shall not  preclude  any other or further
exercise  of  that  or  any  other  such  right.  GMAC  further  waives  demand,
presentment,  notice of default,  protest,  notice of  acceptance  and any other
notices with respect to this Limited Guaranty,  including,  without  limitation,
those of action or nonaction on the part of Residential Funding or the Trustee.

            (3) Modification,  Amendment and Termination.  This Limited Guaranty
may be modified, amended or terminated only by the written agreement of GMAC and
the Trustee and only if such modification, amendment or termination is permitted
under Section 12.02 of the Servicing  Agreement.  The  obligations of GMAC under
this  Limited  Guaranty  shall  continue  and  remain  in  effect so long as the
Servicing  Agreement is not modified or amended in any way that might affect the
obligations  of GMAC under  this  Limited  Guaranty  without  the prior  written
consent of GMAC.

            (4) Successor.  Except as otherwise  expressly  provided herein, the
guarantee  herein  set  forth  shall be  binding  upon  GMAC and its  respective
successors.

     (5) Governing  Law. This Limited  Guaranty shall be governed by the laws of
the State of New York.

            (6) Authorization and Reliance. GMAC understands that a copy of this
Limited  Guaranty  shall be  delivered  to the  Trustee in  connection  with the
execution  of  Amendment  No.  1 to the  Servicing  Agreement  and  GMAC  hereby
authorizes  the Company and the Trustee to rely on the covenants and  agreements
set forth herein.

            (7) Definitions.  Capitalized  terms used but not otherwise  defined
herein shall have the meaning given them in the Servicing Agreement.

            (8)  Counterparts.  This  Limited  Guaranty  may be  executed in any
number of counterparts, each of which shall be deemed to be an original and such
counterparts shall constitute but one and the same instrument.

            IN WITNESS  WHEREOF,  GMAC has caused  this  Limited  Guaranty to be
executed and delivered by its respective  officers  thereunto duly authorized as
of the day and year first above



                        N-2



<PAGE>






written.

                                    GENERAL MOTORS ACCEPTANCE
                                    CORPORATION


                                      By: 
                                     Name: 
                                     Title: 

Acknowledged by:

BANKERS TRUST COMPANY,
as Trustee

By:                                 
Name:                               
Title:                              

RESIDENTIAL FUNDING MORTGAGE
  SECURITIES I, INC.

By:                                 
Name:                               
Title:                              





                        N-3



<PAGE>






                                  EXHIBIT O

         FORM OF LENDER CERTIFICATION FOR ASSIGNMENT OF MORTGAGE LOAN

                                                    __________________, 19____

Residential Funding Mortgage
  Securities I, Inc.
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, Minnesota  55437

Bankers Trust Company
3 Park Plaza
Irvine, California  92614


Attention:  Residential Funding Corporation Series 1999-S9

            Re:   Mortgage Pass-Through Certificates,
                  Series 1999-S9 Assignment of Mortgage Loan

Ladies and Gentlemen:

            This letter is delivered to you in connection with the assignment by
_________________ (the "Trustee") to  _______________________  (the "Lender") of
_______________ (the "Mortgage Loan") pursuant to Section 3.13(d) of the Pooling
and Servicing  Agreement  (the "Pooling and Servicing  Agreement"),  dated as of
April 1, 1999 among Residential  Funding Mortgage  Securities I, Inc., as seller
(the "Company"),  Residential Funding Corporation,  as master servicer,  and the
Trustee. All terms used herein and not otherwise defined shall have the meanings
set forth in the Pooling and Servicing  Agreement.  The Lender hereby certifies,
represents  and warrants to, and  covenants  with,  the Master  Servicer and the
Trustee that:

            (i) the Mortgage Loan is secured by Mortgaged  Property located in a
      jurisdiction in which an assignment in lieu of satisfaction is required to
      preserve lien  priority,  minimize or avoid  mortgage  recording  taxes or
      otherwise comply with, or facilitate a refinancing under, the laws of such
      jurisdiction;

            (ii) the  substance of the  assignment  is, and is intended to be, a
      refinancing  of such  Mortgage  Loan  and the form of the  transaction  is
      solely to comply with, or facilitate  the  transaction  under,  such local
      laws;

            (iii) the Mortgage Loan  following the proposed  assignment  will be
      modified to have a rate of interest at least 0.25  percent  below or above
      the  rate of  interest  on  such  Mortgage  Loan  prior  to such  proposed
      assignment; and

            (iv) such  assignment  is at the request of the  borrower  under the
related Mortgage



                        O-1



<PAGE>






      Loan.

                                    Very truly yours,


                                    (Lender)

                                      By: 
                                     Name: 
                                     Title: 




                        O-2



<PAGE>





                                  EXHIBIT P

                        SCHEDULE OF DISCOUNT FRACTIONS


Schedule of Discount Fractions

        PRINCIPAL       NET MORTGAGE    DISCOUNT        PO
LOAN #  BALANCE RATE    FRACTION        BALANCE
1886701 312,000.00      6.095   9.7037037037%   30,275.56
1887448 499,990.00      6.095   9.7037037037%   48,517.55
1892233 358,667.50      6.095   9.7037037037%   34,804.03
1893147 349,349.94      6.095   9.7037037037%   33,899.88
1895762 323,900.00      6.095   9.7037037037%   31,430.30
2756364 311,711.03      6.095   9.7037037037%   30,247.51
2761705 526,461.93      6.095   9.7037037037%   51,086.31
2770522 336,000.00      6.095   9.7037037037%   32,604.44
1881097 449,184.18      6.220   7.8518518519%   35,269.28
1881400 234,000.00      6.220   7.8518518519%   18,373.33
1882582 358,967.84      6.220   7.8518518519%   28,185.62
1884359 350,940.45      6.220   7.8518518519%   27,555.32
1887283 296,000.00      6.220   7.8518518519%   23,241.48
1888180 280,995.74      6.220   7.8518518519%   22,063.37
1888183 276,749.59      6.220   7.8518518519%   21,729.97
1888191 290,287.33      6.220   7.8518518519%   22,792.93
1888713 318,920.77      6.220   7.8518518519%   25,041.19
1888719 285,576.84      6.220   7.8518518519%   22,423.07
1888741 293,866.28      6.220   7.8518518519%   23,073.94
1892230 297,000.00      6.220   7.8518518519%   23,320.00
1892865 415,000.00      6.220   7.8518518519%   32,585.19
1892978 365,469.31      6.220   7.8518518519%   28,696.11
1892985 99,909.60       6.220   7.8518518519%   7,844.75
1893109 349,045.63      6.220   7.8518518519%   27,406.55
1893234 337,194.90      6.220   7.8518518519%   26,476.04
1893534 283,743.25      6.220   7.8518518519%   22,279.10
1893976 254,250.00      6.220   7.8518518519%   19,963.33
1894052 285,600.00      6.220   7.8518518519%   22,424.89
1895393 270,000.00      6.220   7.8518518519%   21,200.00
1896855 350,000.00      6.220   7.8518518519%   27,481.48
2760612 337,500.00      6.220   7.8518518519%   26,500.00
2761900 278,350.00      6.220   7.8518518519%   21,855.63
2766212 336,000.00      6.220   7.8518518519%   26,382.22
2767132 369,665.51      6.220   7.8518518519%   29,025.59
2767159 325,000.00      6.220   7.8518518519%   25,518.52
2767174 304,000.00      6.220   7.8518518519%   23,869.63
2771892 345,000.00      6.220   7.8518518519%   27,088.89
1881774 278,375.36      6.345   6.0000000000%   16,702.52
1883875 397,000.00      6.345   6.0000000000%   23,820.00
1889967 287,745.90      6.345   6.0000000000%   17,264.75
1891110 316,800.00      6.345   6.0000000000%   19,008.00
1892231 277,355.08      6.345   6.0000000000%   16,641.30
1892773 283,749.43      6.345   6.0000000000%   17,024.97
1892779 276,555.78      6.345   6.0000000000%   16,593.35
1893079 449,602.98      6.345   6.0000000000%   26,976.18
1893120 339,398.39      6.345   6.0000000000%   20,363.90
1893515 337,401.92      6.345   6.0000000000%   20,244.12
1894337 349,068.48      6.345   6.0000000000%   20,944.11
1894470 296,900.00      6.345   6.0000000000%   17,814.00
1894539 329,600.00      6.345   6.0000000000%   19,776.00
1894655 259,440.12      6.345   6.0000000000%   15,566.41
1894665 305,730.01      6.345   6.0000000000%   18,343.80
1894820 299,735.32      6.345   6.0000000000%   17,984.12
1895632 438,750.00      6.345   6.0000000000%   26,325.00
1896459 269,600.00      6.345   6.0000000000%   16,176.00
1897099 300,000.00      6.345   6.0000000000%   18,000.00
2750899 301,246.08      6.345   6.0000000000%   18,074.76
2761723 451,601.21      6.345   6.0000000000%   27,096.07
2761745 388,556.88      6.345   6.0000000000%   23,313.41
2761762 307,728.26      6.345   6.0000000000%   18,463.70
2761905 319,717.67      6.345   6.0000000000%   19,183.06
1877911 310,462.97      6.470   4.1481481481%   12,878.46
1880847 299,457.88      6.470   4.1481481481%   12,421.96
1881386 350,340.43      6.470   4.1481481481%   14,532.64
1881504 367,683.16      6.470   4.1481481481%   15,252.04
1882145 288,000.00      6.470   4.1481481481%   11,946.67
1886447 423,000.00      6.470   4.1481481481%   17,546.67
1886544 312,000.00      6.470   4.1481481481%   12,942.22
1887491 228,000.00      6.470   4.1481481481%   9,457.78
1887506 295,000.00      6.470   4.1481481481%   12,237.04
1887519 649,440.36      6.470   4.1481481481%   26,939.75
1887557 310,000.00      6.470   4.1481481481%   12,859.26
1888231 425,000.00      6.470   4.1481481481%   17,629.63
1888261 290,000.00      6.470   4.1481481481%   12,029.63
1888588 400,000.00      6.470   4.1481481481%   16,592.59
1888847 350,000.00      6.470   4.1481481481%   14,518.52
1889853 345,000.00      6.470   4.1481481481%   14,311.11
1890674 294,233.73      6.470   4.1481481481%   12,205.25
1891580 447,900.00      6.470   4.1481481481%   18,579.56
1892095 405,000.00      6.470   4.1481481481%   16,800.00
1892325 158,363.53      6.470   4.1481481481%   6,569.15
1893197 427,260.93      6.470   4.1481481481%   17,723.42
1893209 349,395.61      6.470   4.1481481481%   14,493.45
1893210 329,430.15      6.470   4.1481481481%   13,665.25
1893225 343,805.28      6.470   4.1481481481%   14,261.55
1893228 372,678.85      6.470   4.1481481481%   15,459.27
1893236 298,683.34      6.470   4.1481481481%   12,389.83
1893243 389,326.54      6.470   4.1481481481%   16,149.84
1893542 414,642.69      6.470   4.1481481481%   17,199.99
1893658 439,621.17      6.470   4.1481481481%   18,236.14
1893663 309,733.10      6.470   4.1481481481%   12,848.19
1893784 281,907.07      6.470   4.1481481481%   11,693.92
1893810 329,715.87      6.470   4.1481481481%   13,677.10
1893969 399,655.60      6.470   4.1481481481%   16,578.31
1893978 267,769.25      6.470   4.1481481481%   11,107.47
1893996 270,766.67      6.470   4.1481481481%   11,231.80
1894049 291,748.59      6.470   4.1481481481%   12,102.16
1894086 299,512.90      6.470   4.1481481481%   12,424.24
1894490 379,393.72      6.470   4.1481481481%   15,737.81
1894669 299,741.70      6.470   4.1481481481%   12,433.73
1894866 125,491.86      6.470   4.1481481481%   5,205.59
1894871 282,756.35      6.470   4.1481481481%   11,729.15
1894960 321,722.76      6.470   4.1481481481%   13,345.54
1895044 319,224.92      6.470   4.1481481481%   13,241.92
1895279 293,746.87      6.470   4.1481481481%   12,185.06
1895295 278,000.00      6.470   4.1481481481%   11,531.85
1895445 480,585.87      6.470   4.1481481481%   19,935.41
1895611 450,000.00      6.470   4.1481481481%   18,666.67
1895689 520,000.00      6.470   4.1481481481%   21,570.37
1895855 334,112.09      6.470   4.1481481481%   13,859.46
1896532 142,000.00      6.470   4.1481481481%   5,890.37
2760610 320,000.00      6.470   4.1481481481%   13,274.07
2761646 489,578.11      6.470   4.1481481481%   20,308.43
2761650 306,569.69      6.470   4.1481481481%   12,716.96
2761691 294,246.43      6.470   4.1481481481%   12,205.78
2761707 458,005.32      6.470   4.1481481481%   18,998.74
2761708 387,665.93      6.470   4.1481481481%   16,080.96
2761778 359,140.52      6.470   4.1481481481%   14,897.68
2761783 361,488.50      6.470   4.1481481481%   14,995.08
2761789 339,412.89      6.470   4.1481481481%   14,079.35
2761853 374,377.39      6.470   4.1481481481%   15,529.73
2761871 349,698.65      6.470   4.1481481481%   14,506.02
2761917 255,779.58      6.470   4.1481481481%   10,610.12
2761931 318,000.00      6.470   4.1481481481%   13,191.11
2767102 457,209.12      6.470   4.1481481481%   18,965.71
2767115 282,756.34      6.470   4.1481481481%   11,729.15
2767151 460,000.00      6.470   4.1481481481%   19,081.48
2767160 283,755.48      6.470   4.1481481481%   11,770.60
2767167 419,638.39      6.470   4.1481481481%   17,407.22
2767168 499,569.50      6.470   4.1481481481%   20,722.88
2767172 399,655.61      6.470   4.1481481481%   16,578.31
2767176 295,745.15      6.470   4.1481481481%   12,267.95
2767189 269,727.57      6.470   4.1481481481%   11,188.70
2767219 308,000.00      6.470   4.1481481481%   12,776.30
2769744 352,000.00      6.470   4.1481481481%   14,601.48
2770525 307,900.00      6.470   4.1481481481%   12,772.15
1847683 593,467.56      6.595   2.2962962963%   13,627.77
1852085 479,392.75      6.595   2.2962962963%   11,008.28
1859858 998,314.94      6.595   2.2962962963%   22,924.27
1872474 192,674.79      6.595   2.2962962963%   4,424.38
1873943 238,996.59      6.595   2.2962962963%   5,488.07
1876242 308,740.40      6.595   2.2962962963%   7,089.59
1881020 606,975.48      6.595   2.2962962963%   13,937.96
1881025 349,112.78      6.595   2.2962962963%   8,016.66
1881030 288,762.59      6.595   2.2962962963%   6,630.84
1881059 449,241.71      6.595   2.2962962963%   10,315.92
1881066 648,904.71      6.595   2.2962962963%   14,900.77
1881100 396,930.02      6.595   2.2962962963%   9,114.69
1881104 324,452.35      6.595   2.2962962963%   7,450.39
1881127 389,342.82      6.595   2.2962962963%   8,940.46
1881140 649,123.96      6.595   2.2962962963%   14,905.81
1881144 397,733.38      6.595   2.2962962963%   9,133.14
1881146 367,379.89      6.595   2.2962962963%   8,436.13
1881150 287,514.69      6.595   2.2962962963%   6,602.19
1882380 509,571.54      6.595   2.2962962963%   11,701.27
1882968 484,800.00      6.595   2.2962962963%   11,132.44
1883878 339,714.36      6.595   2.2962962963%   7,800.85
1885097 358,000.00      6.595   2.2962962963%   8,220.74
1885641 349,705.96      6.595   2.2962962963%   8,030.29
1886647 398,664.79      6.595   2.2962962963%   9,154.52
1887569 395,667.31      6.595   2.2962962963%   9,085.69
1887578 268,274.42      6.595   2.2962962963%   6,160.38
1887659 239,798.37      6.595   2.2962962963%   5,506.48
1887815 283,761.40      6.595   2.2962962963%   6,516.00
1887923 291,754.69      6.595   2.2962962963%   6,699.55
1887933 448,422.96      6.595   2.2962962963%   10,297.12
1888013 172,854.66      6.595   2.2962962963%   3,969.26
1888049 315,734.52      6.595   2.2962962963%   7,250.20
1888066 351,704.28      6.595   2.2962962963%   8,076.17
1888142 381,855.47      6.595   2.2962962963%   8,768.53
1888210 481,889.38      6.595   2.2962962963%   11,065.61
1888691 190,000.00      6.595   2.2962962963%   4,362.96
1888746 256,784.09      6.595   2.2962962963%   5,896.52
1888872 331,721.08      6.595   2.2962962963%   7,617.30
1888884 320,000.00      6.595   2.2962962963%   7,348.15
1889049 555,000.00      6.595   2.2962962963%   12,744.44
1889909 279,764.77      6.595   2.2962962963%   6,424.23
1890170 316,000.00      6.595   2.2962962963%   7,256.30
1890232 348,700.00      6.595   2.2962962963%   8,007.19
1890394 265,000.00      6.595   2.2962962963%   6,085.19
1890397 95,000.00       6.595   2.2962962963%   2,181.48
1890419 314,135.87      6.595   2.2962962963%   7,213.49
1890426 279,764.77      6.595   2.2962962963%   6,424.23
1890441 275,000.00      6.595   2.2962962963%   6,314.81
1891004 329,722.77      6.595   2.2962962963%   7,571.41
1891172 360,000.00      6.595   2.2962962963%   8,266.67
1891518 300,000.00      6.595   2.2962962963%   6,888.89
1892081 204,000.00      6.595   2.2962962963%   4,684.44
1892229 248,790.81      6.595   2.2962962963%   5,712.97
1892232 348,750.00      6.595   2.2962962963%   8,008.33
1892234 300,000.00      6.595   2.2962962963%   6,888.89
1892236 274,500.00      6.595   2.2962962963%   6,303.33
1892285 649,453.92      6.595   2.2962962963%   14,913.39
1892324 536,694.11      6.595   2.2962962963%   12,324.09
1892353 345,000.00      6.595   2.2962962963%   7,922.22
1892601 290,500.00      6.595   2.2962962963%   6,670.74
1892724 545,000.00      6.595   2.2962962963%   12,514.81
1892734 300,000.00      6.595   2.2962962963%   6,888.89
1892740 252,000.00      6.595   2.2962962963%   5,786.67
1892764 341,712.68      6.595   2.2962962963%   7,846.74
1892786 367,191.25      6.595   2.2962962963%   8,431.80
1892930 470,000.00      6.595   2.2962962963%   10,792.59
1893076 550,000.00      6.595   2.2962962963%   12,629.63
1893087 366,069.71      6.595   2.2962962963%   8,406.05
1893093 399,325.98      6.595   2.2962962963%   9,169.71
1893113 505,152.23      6.595   2.2962962963%   11,599.79
1893117 467,211.39      6.595   2.2962962963%   10,728.56
1893118 423,922.70      6.595   2.2962962963%   9,734.52
1893136 309,477.63      6.595   2.2962962963%   7,106.52
1893137 284,519.75      6.595   2.2962962963%   6,533.42
1893168 255,132.29      6.595   2.2962962963%   5,858.59
1893180 499,157.46      6.595   2.2962962963%   11,462.13
1893187 292,254.26      6.595   2.2962962963%   6,711.02
1893193 358,289.49      6.595   2.2962962963%   8,227.39
1893219 475,100.52      6.595   2.2962962963%   10,909.72
1893223 359,393.37      6.595   2.2962962963%   8,252.74
1893226 506,145.68      6.595   2.2962962963%   11,622.60
1893227 309,739.56      6.595   2.2962962963%   7,112.54
1893235 345,416.96      6.595   2.2962962963%   7,931.80
1893341 477,000.00      6.595   2.2962962963%   10,953.33
1893343 400,000.00      6.595   2.2962962963%   9,185.19
1893447 319,100.00      6.595   2.2962962963%   7,327.48
1893456 328,000.00      6.595   2.2962962963%   7,531.85
1893461 591,500.00      6.595   2.2962962963%   13,582.59
1893465 296,910.00      6.595   2.2962962963%   6,817.93
1893470 327,750.00      6.595   2.2962962963%   7,526.11
1893517 360,000.00      6.595   2.2962962963%   8,266.67
1893520 419,647.15      6.595   2.2962962963%   9,636.34
1893546 304,743.76      6.595   2.2962962963%   6,997.82
1893572 405,658.91      6.595   2.2962962963%   9,315.13
1893641 309,477.63      6.595   2.2962962963%   7,106.52
1893666 360,000.00      6.595   2.2962962963%   8,266.67
1893777 408,156.80      6.595   2.2962962963%   9,372.49
1893789 256,284.50      6.595   2.2962962963%   5,885.05
1893796 299,747.96      6.595   2.2962962963%   6,883.10
1893801 278,965.43      6.595   2.2962962963%   6,405.87
1893809 291,355.02      6.595   2.2962962963%   6,690.37
1893841 304,000.00      6.595   2.2962962963%   6,980.74
1893927 413,252.52      6.595   2.2962962963%   9,489.50
1893954 274,569.13      6.595   2.2962962963%   6,304.92
1893957 266,775.68      6.595   2.2962962963%   6,125.96
1893972 250,000.00      6.595   2.2962962963%   5,740.74
1894038 251,788.28      6.595   2.2962962963%   5,781.80
1894062 260,000.00      6.595   2.2962962963%   5,970.37
1894066 340,000.00      6.595   2.2962962963%   7,807.41
1894082 316,733.68      6.595   2.2962962963%   7,273.14
1894178 440,000.00      6.595   2.2962962963%   10,103.70
1894442 294,752.16      6.595   2.2962962963%   6,768.38
1894474 307,241.66      6.595   2.2962962963%   7,055.18
1894484 328,950.00      6.595   2.2962962963%   7,553.67
1894485 505,574.90      6.595   2.2962962963%   11,609.50
1894498 306,242.50      6.595   2.2962962963%   7,032.24
1894571 272,000.00      6.595   2.2962962963%   6,245.93
1894641 327,721.44      6.595   2.2962962963%   7,525.46
1894647 366,441.88      6.595   2.2962962963%   8,414.59
1894652 344,378.85      6.595   2.2962962963%   7,907.96
1894658 274,768.96      6.595   2.2962962963%   6,309.51
1894799 424,000.00      6.595   2.2962962963%   9,736.30
1894800 300,000.00      6.595   2.2962962963%   6,888.89
1894813 275,500.00      6.595   2.2962962963%   6,326.30
1894814 299,747.96      6.595   2.2962962963%   6,883.10
1894827 299,747.96      6.595   2.2962962963%   6,883.10
1894837 287,758.05      6.595   2.2962962963%   6,607.78
1894844 289,756.37      6.595   2.2962962963%   6,653.66
1894849 299,494.48      6.595   2.2962962963%   6,877.28
1894865 594,500.12      6.595   2.2962962963%   13,651.48
1894883 274,968.80      6.595   2.2962962963%   6,314.10
1894894 420,846.15      6.595   2.2962962963%   9,663.87
1894963 449,000.00      6.595   2.2962962963%   10,310.37
1894974 631,469.04      6.595   2.2962962963%   14,500.40
1895008 271,771.48      6.595   2.2962962963%   6,240.68
1895066 395,667.31      6.595   2.2962962963%   9,085.69
1895184 396,943.58      6.595   2.2962962963%   9,115.00
1895194 264,577.53      6.595   2.2962962963%   6,075.48
1895235 413,702.14      6.595   2.2962962963%   9,499.83
1895241 366,691.67      6.595   2.2962962963%   8,420.33
1895255 340,000.00      6.595   2.2962962963%   7,807.41
1895289 279,265.18      6.595   2.2962962963%   6,412.76
1895299 255,784.93      6.595   2.2962962963%   5,873.58
1895342 403,660.59      6.595   2.2962962963%   9,269.24
1895349 356,700.07      6.595   2.2962962963%   8,190.89
1895382 447,523.70      6.595   2.2962962963%   10,276.47
1895383 296,100.00      6.595   2.2962962963%   6,799.33
1895385 330,000.00      6.595   2.2962962963%   7,577.78
1895406 302,245.86      6.595   2.2962962963%   6,940.46
1895420 399,613.99      6.595   2.2962962963%   9,176.32
1895433 258,282.82      6.595   2.2962962963%   5,930.94
1895437 304,743.77      6.595   2.2962962963%   6,997.82
1895439 349,705.95      6.595   2.2962962963%   8,030.28
1895446 324,366.58      6.595   2.2962962963%   7,448.42
1895512 359,697.56      6.595   2.2962962963%   8,259.72
1895538 275,000.00      6.595   2.2962962963%   6,314.81
1895543 500,000.00      6.595   2.2962962963%   11,481.48
1895546 404,000.00      6.595   2.2962962963%   9,277.04
1895548 306,941.92      6.595   2.2962962963%   7,048.30
1895560 337,216.45      6.595   2.2962962963%   7,743.49
1895571 283,761.40      6.595   2.2962962963%   6,516.00
1895676 320,250.00      6.595   2.2962962963%   7,353.89
1895698 400,000.00      6.595   2.2962962963%   9,185.19
1895740 277,500.00      6.595   2.2962962963%   6,372.22
1895752 284,200.00      6.595   2.2962962963%   6,526.07
1895769 520,062.72      6.595   2.2962962963%   11,942.18
1895773 335,817.63      6.595   2.2962962963%   7,711.37
1895775 304,250.00      6.595   2.2962962963%   6,986.48
1895786 279,764.76      6.595   2.2962962963%   6,424.23
1895793 399,325.97      6.595   2.2962962963%   9,169.71
1895800 332,000.00      6.595   2.2962962963%   7,623.70
1895803 611,485.85      6.595   2.2962962963%   14,041.53
1895818 254,186.27      6.595   2.2962962963%   5,836.87
1895826 268,800.00      6.595   2.2962962963%   6,172.44
1895838 300,000.00      6.595   2.2962962963%   6,888.89
1895993 297,500.00      6.595   2.2962962963%   6,831.48
1896026 471,603.47      6.595   2.2962962963%   10,829.41
1896061 299,747.96      6.595   2.2962962963%   6,883.10
1896068 427,640.42      6.595   2.2962962963%   9,819.89
1896090 430,138.33      6.595   2.2962962963%   9,877.25
1896096 419,647.14      6.595   2.2962962963%   9,636.34
1896155 259,781.57      6.595   2.2962962963%   5,965.35
1896414 226,000.00      6.595   2.2962962963%   5,189.63
1896485 332,000.00      6.595   2.2962962963%   7,623.70
1896489 286,500.00      6.595   2.2962962963%   6,578.89
1896502 450,000.00      6.595   2.2962962963%   10,333.33
1896503 308,000.00      6.595   2.2962962963%   7,072.59
1896506 312,000.00      6.595   2.2962962963%   7,164.44
1896530 322,000.00      6.595   2.2962962963%   7,394.07
1896686 403,000.00      6.595   2.2962962963%   9,254.07
2745939 459,613.55      6.595   2.2962962963%   10,554.09
2745943 279,764.77      6.595   2.2962962963%   6,424.23
2748087 206,826.10      6.595   2.2962962963%   4,749.34
2748118 329,163.50      6.595   2.2962962963%   7,558.57
2749228 279,764.77      6.595   2.2962962963%   6,424.23
2749983 299,747.96      6.595   2.2962962963%   6,883.10
2761285 329,722.76      6.595   2.2962962963%   7,571.41
2761641 367,690.83      6.595   2.2962962963%   8,443.27
2761655 244,294.58      6.595   2.2962962963%   5,609.73
2761669 296,000.00      6.595   2.2962962963%   6,797.04
2761675 363,694.19      6.595   2.2962962963%   8,351.50
2761679 283,761.40      6.595   2.2962962963%   6,516.00
2761692 359,697.55      6.595   2.2962962963%   8,259.72
2761703 477,598.41      6.595   2.2962962963%   10,967.07
2761721 369,376.52      6.595   2.2962962963%   8,481.98
2761729 387,674.03      6.595   2.2962962963%   8,902.14
2761739 387,174.45      6.595   2.2962962963%   8,890.67
2761741 269,773.17      6.595   2.2962962963%   6,194.79
2761742 437,632.03      6.595   2.2962962963%   10,049.33
2761746 399,663.95      6.595   2.2962962963%   9,177.47
2761749 384,676.55      6.595   2.2962962963%   8,833.31
2761752 627,472.40      6.595   2.2962962963%   14,408.63
2761765 269,773.17      6.595   2.2962962963%   6,194.79
2761766 450,000.00      6.595   2.2962962963%   10,333.33
2761777 299,747.96      6.595   2.2962962963%   6,883.10
2761814 273,488.38      6.595   2.2962962963%   6,280.10
2761819 498,330.98      6.595   2.2962962963%   11,443.16
2761821 327,224.85      6.595   2.2962962963%   7,514.05
2761822 402,000.00      6.595   2.2962962963%   9,231.11
2761826 314,735.36      6.595   2.2962962963%   7,227.26
2761837 259,781.56      6.595   2.2962962963%   5,965.35
2761839 314,735.36      6.595   2.2962962963%   7,227.26
2761850 335,717.71      6.595   2.2962962963%   7,709.07
2761867 293,353.33      6.595   2.2962962963%   6,736.26
2761873 324,726.96      6.595   2.2962962963%   7,456.69
2761904 326,725.28      6.595   2.2962962963%   7,502.58
2761921 309,239.98      6.595   2.2962962963%   7,101.07
2761922 499,579.93      6.595   2.2962962963%   11,471.84
2761941 287,758.04      6.595   2.2962962963%   6,607.78
2767091 620,000.00      6.595   2.2962962963%   14,237.04
2767100 339,500.00      6.595   2.2962962963%   7,795.93
2767104 310,938.56      6.595   2.2962962963%   7,140.07
2767109 255,568.62      6.595   2.2962962963%   5,868.61
2767117 322,728.64      6.595   2.2962962963%   7,410.81
2767139 302,000.00      6.595   2.2962962963%   6,934.81
2767146 289,756.36      6.595   2.2962962963%   6,653.66
2767149 284,660.65      6.595   2.2962962963%   6,536.65
2767185 396,000.00      6.595   2.2962962963%   9,093.33
2767190 473,601.79      6.595   2.2962962963%   10,875.30
2767192 500,000.00      6.595   2.2962962963%   11,481.48
2767193 285,759.72      6.595   2.2962962963%   6,561.89
2767195 251,688.37      6.595   2.2962962963%   5,779.51
2767204 267,774.85      6.595   2.2962962963%   6,148.90
2767208 495,000.00      6.595   2.2962962963%   11,366.67
2767225 401,500.00      6.595   2.2962962963%   9,219.63
2767229 298,500.00      6.595   2.2962962963%   6,854.44
2770356 450,000.00      6.595   2.2962962963%   10,333.33
2771888 247,900.00      6.595   2.2962962963%   5,692.52
1852249 271,619.00      6.720   0.4444444444%   1,207.20
1858551 291,277.76      6.720   0.4444444444%   1,294.57
1862240 265,342.08      6.720   0.4444444444%   1,179.30
1864181 544,998.63      6.720   0.4444444444%   2,422.22
1876460 450,000.00      6.720   0.4444444444%   2,000.00
1878030 481,500.00      6.720   0.4444444444%   2,140.00
1878190 354,709.01      6.720   0.4444444444%   1,576.48
1878193 536,000.00      6.720   0.4444444444%   2,382.22
1879604 89,850.79       6.720   0.4444444444%   399.34
1880607 340,000.00      6.720   0.4444444444%   1,511.11
1880725 263,270.20      6.720   0.4444444444%   1,170.09
1882529 393,800.00      6.720   0.4444444444%   1,750.22
1882544 330,229.09      6.720   0.4444444444%   1,467.68
1882608 375,000.00      6.720   0.4444444444%   1,666.67
1882617 290,400.00      6.720   0.4444444444%   1,290.67
1882861 315,000.00      6.720   0.4444444444%   1,400.00
1882911 272,776.22      6.720   0.4444444444%   1,212.34
1883599 127,695.24      6.720   0.4444444444%   567.53
1883839 379,674.72      6.720   0.4444444444%   1,687.44
1883895 292,568.18      6.720   0.4444444444%   1,300.30
1884083 377,246.67      6.720   0.4444444444%   1,676.65
1884145 247,696.80      6.720   0.4444444444%   1,100.87
1884154 157,000.00      6.720   0.4444444444%   697.78
1884362 252,872.96      6.720   0.4444444444%   1,123.88
1884749 500,000.00      6.720   0.4444444444%   2,222.22
1884755 558,165.99      6.720   0.4444444444%   2,480.74
1884779 306,000.00      6.720   0.4444444444%   1,360.00
1884870 382,756.28      6.720   0.4444444444%   1,701.14
1885127 206,230.81      6.720   0.4444444444%   916.58
1885133 289,762.29      6.720   0.4444444444%   1,287.83
1885864 275,773.76      6.720   0.4444444444%   1,225.66
1886003 334,925.23      6.720   0.4444444444%   1,488.56
1886571 399,672.12      6.720   0.4444444444%   1,776.32
1887930 218,171.02      6.720   0.4444444444%   969.65
1887982 299,754.09      6.720   0.4444444444%   1,332.24
1887992 163,865.57      6.720   0.4444444444%   728.29
1888140 399,010.60      6.720   0.4444444444%   1,773.38
1888184 421,654.09      6.720   0.4444444444%   1,874.02
1888389 299,506.75      6.720   0.4444444444%   1,331.14
1888411 275,773.77      6.720   0.4444444444%   1,225.66
1888539 605,000.00      6.720   0.4444444444%   2,688.89
1888613 359,704.91      6.720   0.4444444444%   1,598.69
1888617 390,000.00      6.720   0.4444444444%   1,733.33
1888695 303,000.00      6.720   0.4444444444%   1,346.67
1888715 399,342.33      6.720   0.4444444444%   1,774.85
1888720 258,987.53      6.720   0.4444444444%   1,151.06
1888743 299,754.09      6.720   0.4444444444%   1,332.24
1888747 310,745.07      6.720   0.4444444444%   1,381.09
1888808 393,000.00      6.720   0.4444444444%   1,746.67
1889077 423,652.45      6.720   0.4444444444%   1,882.90
1889241 314,000.00      6.720   0.4444444444%   1,395.56
1889604 630,000.00      6.720   0.4444444444%   2,800.00
1889788 324,465.63      6.720   0.4444444444%   1,442.07
1889792 183,697.46      6.720   0.4444444444%   816.43
1889813 395,550.00      6.720   0.4444444444%   1,758.00
1889844 249,588.95      6.720   0.4444444444%   1,109.28
1889955 402,000.00      6.720   0.4444444444%   1,786.67
1889961 348,514.10      6.720   0.4444444444%   1,548.95
1889963 351,711.47      6.720   0.4444444444%   1,563.16
1890095 497,300.00      6.720   0.4444444444%   2,210.22
1890200 439,639.33      6.720   0.4444444444%   1,953.95
1890242 189,444.59      6.720   0.4444444444%   841.98
1890365 96,690.76       6.720   0.4444444444%   429.74
1890372 294,758.19      6.720   0.4444444444%   1,310.04
1890387 560,000.00      6.720   0.4444444444%   2,488.89
1890433 585,000.00      6.720   0.4444444444%   2,600.00
1890655 600,500.00      6.720   0.4444444444%   2,668.89
1890926 251,793.44      6.720   0.4444444444%   1,119.08
1891248 431,046.39      6.720   0.4444444444%   1,915.76
1891253 299,754.09      6.720   0.4444444444%   1,332.24
1891269 504,000.00      6.720   0.4444444444%   2,240.00
1891283 167,862.29      6.720   0.4444444444%   746.05
1891405 368,100.00      6.720   0.4444444444%   1,636.00
1891522 288,750.00      6.720   0.4444444444%   1,283.33
1891602 340,000.00      6.720   0.4444444444%   1,511.11
1891684 319,200.00      6.720   0.4444444444%   1,418.67
1891769 598,000.00      6.720   0.4444444444%   2,657.78
1892306 305,000.00      6.720   0.4444444444%   1,355.56
1892376 260,100.00      6.720   0.4444444444%   1,156.00
1892455 434,000.00      6.720   0.4444444444%   1,928.89
1892648 152,800.00      6.720   0.4444444444%   679.11
1892685 459,622.93      6.720   0.4444444444%   2,042.77
1892743 217,000.00      6.720   0.4444444444%   964.44
1892744 392,050.00      6.720   0.4444444444%   1,742.44
1892775 274,774.58      6.720   0.4444444444%   1,221.22
1892782 341,719.66      6.720   0.4444444444%   1,518.75
1892909 273,750.00      6.720   0.4444444444%   1,216.67
1892936 300,000.00      6.720   0.4444444444%   1,333.33
1892943 650,000.00      6.720   0.4444444444%   2,888.89
1892959 360,000.00      6.720   0.4444444444%   1,600.00
1893013 294,800.00      6.720   0.4444444444%   1,310.22
1893077 298,851.57      6.720   0.4444444444%   1,328.23
1893088 325,713.59      6.720   0.4444444444%   1,447.62
1893119 357,411.39      6.720   0.4444444444%   1,588.50
1893124 319,208.50      6.720   0.4444444444%   1,418.70
1893165 264,344.52      6.720   0.4444444444%   1,174.86
1893166 250,955.03      6.720   0.4444444444%   1,115.36
1893177 319,473.87      6.720   0.4444444444%   1,419.88
1893181 330,455.77      6.720   0.4444444444%   1,468.69
1893184 269,556.07      6.720   0.4444444444%   1,198.03
1893196 287,047.42      6.720   0.4444444444%   1,275.77
1893217 319,473.87      6.720   0.4444444444%   1,419.88
1893220 359,408.10      6.720   0.4444444444%   1,597.37
1893221 338,442.62      6.720   0.4444444444%   1,504.19
1893245 379,080.51      6.720   0.4444444444%   1,684.80
1893252 378,000.00      6.720   0.4444444444%   1,680.00
1893473 141,149.20      6.720   0.4444444444%   627.33
1893526 392,000.00      6.720   0.4444444444%   1,742.22
1893550 496,592.61      6.720   0.4444444444%   2,207.08
1893564 280,769.66      6.720   0.4444444444%   1,247.87
1893582 250,894.17      6.720   0.4444444444%   1,115.09
1893637 319,737.70      6.720   0.4444444444%   1,421.06
1893646 413,850.00      6.720   0.4444444444%   1,839.33
1893661 304,000.00      6.720   0.4444444444%   1,351.11
1893668 287,000.00      6.720   0.4444444444%   1,275.56
1893687 122,000.00      6.720   0.4444444444%   542.22
1893715 320,000.00      6.720   0.4444444444%   1,422.22
1893726 252,000.00      6.720   0.4444444444%   1,120.00
1893772 300,000.00      6.720   0.4444444444%   1,333.33
1893781 283,267.62      6.720   0.4444444444%   1,258.97
1893785 102,400.00      6.720   0.4444444444%   455.11
1893786 314,741.80      6.720   0.4444444444%   1,398.85
1893791 296,157.04      6.720   0.4444444444%   1,316.25
1893794 313,742.62      6.720   0.4444444444%   1,394.41
1893795 102,000.00      6.720   0.4444444444%   453.33
1893798 367,698.36      6.720   0.4444444444%   1,634.21
1893800 262,584.58      6.720   0.4444444444%   1,167.04
1893832 405,000.00      6.720   0.4444444444%   1,800.00
1893845 329,750.00      6.720   0.4444444444%   1,465.56
1893885 264,800.00      6.720   0.4444444444%   1,176.89
1893961 404,668.02      6.720   0.4444444444%   1,798.52
1893980 599,508.18      6.720   0.4444444444%   2,664.48
1893981 366,699.16      6.720   0.4444444444%   1,629.77
1894044 260,786.06      6.720   0.4444444444%   1,159.05
1894059 313,742.62      6.720   0.4444444444%   1,394.41
1894075 639,475.39      6.720   0.4444444444%   2,842.11
1894093 330,000.00      6.720   0.4444444444%   1,466.67
1894304 464,000.00      6.720   0.4444444444%   2,062.22
1894316 271,577.20      6.720   0.4444444444%   1,207.01
1894318 414,000.00      6.720   0.4444444444%   1,840.00
1894327 279,770.48      6.720   0.4444444444%   1,243.42
1894354 326,132.45      6.720   0.4444444444%   1,449.48
1894482 273,750.00      6.720   0.4444444444%   1,216.67
1894525 361,000.00      6.720   0.4444444444%   1,604.44
1894545 336,000.00      6.720   0.4444444444%   1,493.33
1894547 70,000.00       6.720   0.4444444444%   311.11
1894560 223,900.00      6.720   0.4444444444%   995.11
1894667 269,553.19      6.720   0.4444444444%   1,198.01
1894796 267,559.36      6.720   0.4444444444%   1,189.15
1894807 327,731.14      6.720   0.4444444444%   1,456.58
1894830 443,269.98      6.720   0.4444444444%   1,970.09
1894846 339,721.30      6.720   0.4444444444%   1,509.87
1894856 416,358.43      6.720   0.4444444444%   1,850.48
1894867 404,168.43      6.720   0.4444444444%   1,796.30
1894870 120,000.00      6.720   0.4444444444%   533.33
1894902 301,600.00      6.720   0.4444444444%   1,340.44
1894964 353,210.23      6.720   0.4444444444%   1,569.82
1895018 266,000.00      6.720   0.4444444444%   1,182.22
1895021 395,675.40      6.720   0.4444444444%   1,758.56
1895129 226,600.00      6.720   0.4444444444%   1,007.11
1895198 478,807.20      6.720   0.4444444444%   2,128.03
1895200 336,224.18      6.720   0.4444444444%   1,494.33
1895202 274,774.59      6.720   0.4444444444%   1,221.22
1895208 310,145.57      6.720   0.4444444444%   1,378.42
1895234 229,550.00      6.720   0.4444444444%   1,020.22
1895243 355,000.00      6.720   0.4444444444%   1,577.78
1895245 329,729.50      6.720   0.4444444444%   1,465.46
1895249 399,672.12      6.720   0.4444444444%   1,776.32
1895313 398,872.78      6.720   0.4444444444%   1,772.77
1895331 258,702.47      6.720   0.4444444444%   1,149.79
1895354 269,778.68      6.720   0.4444444444%   1,199.02
1895362 311,950.00      6.720   0.4444444444%   1,386.44
1895369 264,600.00      6.720   0.4444444444%   1,176.00
1895428 368,497.69      6.720   0.4444444444%   1,637.77
1895448 250,700.00      6.720   0.4444444444%   1,114.22
1895450 399,672.12      6.720   0.4444444444%   1,776.32
1895529 343,718.03      6.720   0.4444444444%   1,527.64
1895567 251,200.00      6.720   0.4444444444%   1,116.44
1895575 253,691.87      6.720   0.4444444444%   1,127.52
1895609 465,618.02      6.720   0.4444444444%   2,069.41
1895610 449,631.13      6.720   0.4444444444%   1,998.36
1895640 385,000.00      6.720   0.4444444444%   1,711.11
1895679 258,964.00      6.720   0.4444444444%   1,150.95
1895746 265,263.15      6.720   0.4444444444%   1,178.95
1895750 289,762.29      6.720   0.4444444444%   1,287.83
1895787 269,329.05      6.720   0.4444444444%   1,197.02
1895795 458,092.54      6.720   0.4444444444%   2,035.97
1895821 315,000.00      6.720   0.4444444444%   1,400.00
1895822 430,000.00      6.720   0.4444444444%   1,911.11
1895824 251,793.44      6.720   0.4444444444%   1,119.08
1895910 520,000.00      6.720   0.4444444444%   2,311.11
1895931 306,800.00      6.720   0.4444444444%   1,363.56
1895936 367,000.00      6.720   0.4444444444%   1,631.11
1895984 388,481.30      6.720   0.4444444444%   1,726.58
1895987 649,467.20      6.720   0.4444444444%   2,886.52
1896008 370,000.00      6.720   0.4444444444%   1,644.44
1896042 424,000.00      6.720   0.4444444444%   1,884.44
1896192 339,600.00      6.720   0.4444444444%   1,509.33
1896420 265,900.00      6.720   0.4444444444%   1,181.78
1896806 300,000.00      6.720   0.4444444444%   1,333.33
1896920 400,000.00      6.720   0.4444444444%   1,777.78
1897114 200,000.00      6.720   0.4444444444%   888.89
2756850 367,500.00      6.720   0.4444444444%   1,633.33
2760611 295,200.00      6.720   0.4444444444%   1,312.00
2761294 237,755.96      6.720   0.4444444444%   1,056.69
2761643 435,283.14      6.720   0.4444444444%   1,934.59
2761658 599,508.18      6.720   0.4444444444%   2,664.48
2761660 382,885.89      6.720   0.4444444444%   1,701.72
2761688 448,581.99      6.720   0.4444444444%   1,993.70
2761695 650,000.00      6.720   0.4444444444%   2,888.89
2761700 254,790.97      6.720   0.4444444444%   1,132.40
2761712 319,737.70      6.720   0.4444444444%   1,421.06
2761713 343,718.02      6.720   0.4444444444%   1,527.64
2761719 262,280.73      6.720   0.4444444444%   1,165.69
2761722 299,754.09      6.720   0.4444444444%   1,332.24
2761725 350,712.28      6.720   0.4444444444%   1,558.72
2761767 99,918.02       6.720   0.4444444444%   444.08
2761794 259,356.89      6.720   0.4444444444%   1,152.70
2761801 479,162.27      6.720   0.4444444444%   2,129.61
2761809 265,781.96      6.720   0.4444444444%   1,181.25
2761816 499,590.15      6.720   0.4444444444%   2,220.40
2761833 376,500.00      6.720   0.4444444444%   1,673.33
2761851 650,000.00      6.720   0.4444444444%   2,888.89
2761874 287,000.00      6.720   0.4444444444%   1,275.56
2761876 99,671.00       6.720   0.4444444444%   442.98
2761878 329,729.50      6.720   0.4444444444%   1,465.46
2761881 287,264.33      6.720   0.4444444444%   1,276.73
2761883 226,645.07      6.720   0.4444444444%   1,007.31
2761891 314,741.79      6.720   0.4444444444%   1,398.85
2761892 211,826.22      6.720   0.4444444444%   941.45
2761898 394,676.22      6.720   0.4444444444%   1,754.12
2761911 302,901.50      6.720   0.4444444444%   1,346.23
2761913 504,586.05      6.720   0.4444444444%   2,242.60
2761920 571,531.14      6.720   0.4444444444%   2,540.14
2762086 342,200.00      6.720   0.4444444444%   1,520.89
2763052 308,000.00      6.720   0.4444444444%   1,368.89
2764088 352,000.00      6.720   0.4444444444%   1,564.44
2767096 349,352.69      6.720   0.4444444444%   1,552.68
2767119 335,724.58      6.720   0.4444444444%   1,492.11
2767121 442,636.88      6.720   0.4444444444%   1,967.28
2767143 276,273.35      6.720   0.4444444444%   1,227.88
2767148 474,610.64      6.720   0.4444444444%   2,109.38
2767194 369,297.04      6.720   0.4444444444%   1,641.32
2767212 278,000.00      6.720   0.4444444444%   1,235.56
2767213 399,672.12      6.720   0.4444444444%   1,776.32
2767413 283,200.00      6.720   0.4444444444%   1,258.67
2767551 346,500.00      6.720   0.4444444444%   1,540.00
2767557 90,000.00       6.720   0.4444444444%   400.00
2767945 268,800.00      6.720   0.4444444444%   1,194.67
2769656 134,800.00      6.720   0.4444444444%   599.11
2771233 215,200.00      6.720   0.4444444444%   956.44
2771393 383,400.00      6.720   0.4444444444%   1,704.00
2771890 335,200.00      6.720   0.4444444444%   1,489.78




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                                  EXHIBIT Q

                         FORM OF REQUEST FOR EXCHANGE


                                    [DATE]

Bankers Trust Company
3 Park Plaza
Irvine, California  92614

      Re:   Residential Funding Mortgage Securities I,
            Inc., Mortgage Pass-Through Certificates, Series 1999-S9

            Residential Funding Corporation,  as the Holder of a ___% Percentage
Interest  of the Class  A-V[-1]  Certificates,  hereby  requests  the Trustee to
exchange the above-referenced Certificates for the Subclasses referred to below:

            (1)  Class  A-V-   Certificates,   corresponding  to  the  following
Uncertificated  REMIC II Regular Interests:  [List numbers  corresponding to the
related loans and Pool Strip Rates from the Mortgage Loan Schedule]. The Initial
Class A-V  Subclass  Notional  Amount and the Initial  Pass-Through  Rate on the
Class A-V- Certificates will be $ and %, respectively.

            (2)   [Repeat as appropriate.]

            The Subclasses  requested  above will represent in the aggregate all
of the  Uncertificated  REMIC II  Regular  Interests  represented  by the  Class
A-V[-1] Certificates surrendered for exchange.

            All  capitalized  terms used but not defined  herein  shall have the
meanings set forth in the Pooling and Servicing Agreement,  dated as of April 1,
1999, among Residential Funding Mortgage Securities I, Inc., Residential Funding
Corporation and Bankers Trust Company, as trustee.

                                    RESIDENTIAL FUNDING CORPORATION

                                    By:______________________________
                                        Name:
                                        Title:











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