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Previous: SOURCE ONE MORTGAGE SERVICES CORP, 8-K, 1995-11-02 |
Next: LIFE OF VIRGINIA SEPARATE ACCOUNT II, 497, 1995-11-02 |
<PAGE> 1
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: October 31, 1995
Source One Mortgage Services Corporation
(Exact name of registrant as specified in its charter)
Delaware 1-12898 38-2011419
-------- ------- ----------
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
27555 Farmington Road 48334-3357
Farmington Hills, Michigan ----------
- -------------------------- (Zip Code)
(Address of principal
executive offices)
Registrant's telephone number, including area code: (810) 488-7000
Total Pages: 7
<PAGE> 2
Item 5. Other Events
None applicable.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
See attached Distribution Reports as of October 25, 1995 for Series
1987-2, Distribution Reports as of November 1, 1995 for Series 1988-1
and 1988-2, and Distribution Reports as of October 20, 1995 for Series
1990-1.
Signature
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.
SOURCE ONE MORTGAGE SERVICES CORPORATION
(Registrant)
Date: October 31, 1995 By: Ruth D. Brod
---------------------------
Ruth D. Brod
Assistant Vice President
<PAGE> 3
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1987-2
<TABLE>
<CAPTION>
COUPON Principal Number of Interest
Class RATE Outstanding Certificates Accrued
- ----- ------ ------------- ------------ ----------
<S> <C> <C> <C> <C>
2-A 6.5000% $0.00 45,100 $0.00
2-B 7.0000% $0.00 18,000 $0.00
2-C 7.0000% $0.00 19,700 $0.00
2-D 9.5500% $6,906,000.00 * 6,906 $54,960.25
2-E 9.9500% $11,115,569.19 5,200 $92,166.59
-------------- ------ -----------
$18,021,569.19 94,906 $147,126.84
Agency MBS Collections:
Interest $150,342.84
Principal $447,997.13
Investment Income $888.27
Excess from previous month 215.82
-----------
TOTAL AVAILABLE $599,444.06
Due to Class 2-D INTEREST ($54,960.25)
Due to Class 2-D REDEMPTION ($540,379.54)
Due to Class 2-D (rounded down to even ($1,000) ($540,000.00)
Excess in Collection Account ($379.54)
-----------
Available for Expenses and Residual Payments $4,104.27
Expenses Payable ($419.84)
-----------
Net Balance $3,684.43
===========
Due to Residual Holders $3,684.43 ** THIS IS A REDEMPTION PAYMENT TO SPECIFIC
HOLDERS ELECTING A PUT OPTION.
Amount Payable Per Individual
Residual Certificate (5% Denomination): $184.2215
<CAPTION>
Distribution Date Statement for October 25, 1995
Interest Principal Principal Per $1,000
Interest Payable Per Principal Payable Per Balance After CTF After
Payable $1,000 CTF Payable $1,000 CTF October 25, 1995 October 25, 1995
---------------- ------------ -------------- ---------------- ----------------- ----------------
<S> <C> <C> <C> <C> <C>
$0.00 $0.000000 $0.000000 $0.000000
$0.00 $0.000000 $0.000000 $0.000000
$0.00 $0.000000 $0.000000 $0.000000
$54,960.25 $7.958333 $540,000.00 ** - $6,366,000.00 $1,000.000000
$0.00 $0.000000 - - $11,207,735.78 $2,155.333804
----------- ----------- --------------
$54,960.25 $0.00 $17,573,735.78
Ending Aggregate Agency MBS Balance: $17,593,147.36
Excess in collection Act as of Sep 25 $215.82
Accrual Distribution Amount: $92,166.59
Aggregate Cash Flow Value Decline: $447,997.13
Principal to Class 2-D Redemption ($540,000.00)
--------------
$379.54
Principal Distributable to Class 2-D $540,000.00
--------------
Aggregate Amount of Principal Distributable: $540,379.54
</TABLE>
THE FIRST NATIONAL BANK OF CHICAGO,
as Trustee
Corporate Trust Division
Suite 0126
One First National Plaza
Chicago, Illinois 60670
(312)407-4660
<PAGE> 4
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1988-1
Distribution Date Statement for November 1, 1995
<TABLE>
<CAPTION>
COUPON Principal Number of Interest Interest
Class RATE Outstanding Certificates Accrued Payable
- ----- -------- ---------------- ----------- -------------- ----------------
<S> <C> <C> <C> <C> <C>
A 0.0000% $0.00 38,510 $0.00 $0.00
B 8.0000% $0.00 51,050 $0.00 $0.00
Z 9.9000% $18,403,523.05 10,440 $151,829.07 $151,829.07
-------------- ------- ----------- -----------
$18,403,523.05 100,000 $151,829.07 $151,829.07
Agency MBS Collections:
Interest $153,364.95
Principal $260,328.15
Investment Income $1,071.73
-------------
TOTAL AVAILABLE $414,764.83
Due to Certificateholders ($412,157.22)
-------------
Available for Expenses and Residual Payments $2,607.61
Expenses Payable ($411.79)
-------------
Net Balance $2,195.82
=============
Due to Residual Holders $2,195.82
Amount Payable Per Individual
Residual Certificate (5% Denomination): $109.7910
<CAPTION>
Principal Balance
Interest Principal Principal Per $1,000
Payable Per Principal Payable Per Balance After CTF After
$1,000 CTF Payable* $1,000 CTF November 1, 1995 November 1, 1995
------------ -------------- ------------ ---------------- ----------------
<C> <C> <C> <C> <C>
$0.000000 $0.00 $0.000000 $0.00 $0.000000
$0.000000 $0.00 $0.000000 $0.00 $0.000000
$14.543014 $260,328.15 $24.935647 $18,143,194.90 $1,737.853918
----------- --------------
$260,328.15 $18,143,194.90
Ending Aggregate Agency MBS Balance: $18,143,462.43
Accrual Distribution Amount: $0.00
Aggregate Cash Flow Value Decline: $260,328.15
-------------
*Aggregate Amount of Principal Distributable: $260,328.15
Principal Allocation: Class A: 0.000%
Class B: 0.000%
</TABLE>
THE FIRST NATIONAL BANK OF CHICAGO,
as Trustee
Corporate Trust Division
Suite 0126
One First National Plaza
Chicago, Illinois 60670
(312)407-4660
*
<PAGE> 5
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1988-2
Distribution Date Statement for November 1, 1995
<TABLE>
<CAPTION>
COUPON Principal Number of Interest Interest
Class RATE Outstanding Certificates Accrued Payable
- ----- -------- ---------------- ----------- -------------- ----------------
<S> <C> <C> <C> <C> <C>
2-A 6.6375% $906,336.55 39,750 $5,013.17 $5,013.17
2-B 7.0000% $0.00 24,540 $0.00 $0.00
2-C 7.0000% $0.00 10,930 $0.00 $0.00
2-D 7.0000% $1,141,119.79 14,580 $6,656.53 $6,656.53
2-Z 9.4000% $20,125,935.59 10,200 $157,653.16 $0.00
--------------- ---------- ------------- --------------
$22,173,391.93 100,000 $169,322.86 $11,669.70
Agency MBS Collections:
Interest $175,539.48
Principal $434,841.64
Investment Income $2,137.98
---------------
TOTAL AVAILABLE $612,519.10
Due to Certificateholders ($604,164.50)
---------------
Available for Expenses and Residual Payments $8,354.60
Expenses Payable ($485.57)
---------------
Net Balance $7,869.03
===============
Due to Residual Holders $7,869.03
Amount Payable Per Individual
Residual Certificate (5% Denomination): $393.4515
<CAPTION>
Principal Balance
Interest Principal Principal Per $1,000
Payable Per Principal Payable Per Balance After CTF After
$1,000 CTF Payable* $1,000 CTF November 1, 1995 November 1, 1995
------------ --------------- ------------ ---------------- ----------------
<S> <C> <C> <C> <C>
$0.126117 $262,267.82 $6.597933 $644,068.73 $16.202987
$0.000000 $0.00 $0.000000 $0.00 $0.000000
$0.000000 $0.00 $0.000000 $0.00 $0.000000
$0.456552 $330,226.98 $22.649313 $810,892.81 $55.616791
$0.000000 - - $20,283,588.75 $1,988.587132
------------ ---------------
$592,494.80 $21,738,550.29
Ending Aggregate Agency MBS Balance: $21,738,565.04
Accrual Distribution Amount: $157,653.16
Aggregate Cash Flow Value Decline: $434,841.64
---------------
*Aggregate Amount of Principal Distributable: $592,494.80
Principal Allocation: Class 2-A: 44.2650%
Class 2-D: 55.7350%
</TABLE>
THE FIRST NATIONAL BANK OF CHICAGO,
as Trustee
Corporate Trust Division
Suite 0126
One First National Plaza
Chicago, Illinois 60670
(312)407-4660
<PAGE> 6
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1990-1
DISTRIBUTION DATE STATEMENT FOR October 20, 1995
<TABLE>
<S> <C>
Agency MBS Collections :
Interest $147,984.47
Principal $537,279.71
Investment Income $173.29
-----------
Lower Tier REMIC Collection Account $685,437.47
-----------
Upper Tier REMIC Collection Account $685,437.47
Aggregate Prin Payable to Holders of
Upper Tier REMIC Regular Certificate ($537,279.71)
Aggregate Interest Payable to Holders of
Upper Tier REMIC Regular Certificates ($147,976.50)
Expenses Payable $0.00
REMIC Taxes Payable $0.00
Interest Payable to Class 1-R Certificate ($7.97)
Principal Payable to Class 1-R Certificate $0.00
Due to Class 1-RS Certificate ($173.29)
-----------
Net Balance ($0.00)
===========
Beginning Aggregate Agency MBS Balance : $100,001,006.61
Ending Aggregate Agency MBS Balance : $18,155,495.98
Aggregate Cash Flow Value Decline: $537,279.71
--------------
*Aggregate Amount of Principal Distributable: $537,279.71
</TABLE>
Principal Allocation:
Aggregate Amount of Principal
Distributable to Classes 1-D and 1-I:
Class 1-D: 3.24974121%
Class 1-I: 0.70553289%
Aggregate Amount of Principal
Distributable to Classes 1-G,1-H and 1-R :
Class 1-R: 0.00000000%
THE FIRST NATIONAL BANK OF CHICAGO,
as Trustee
Corporate Trust Division
Suite 0126
One First National Plaza
Chicago, Illinois 60670
(312)407-4660
<PAGE> 7
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1990-1
Distribution Date Statement for October 20, 1995
UPPER TIER REMIC REGULAR CERTIFICATES
<TABLE>
<CAPTION>
COUPON Principal Number of Interest Interest
Class RATE Outstanding Cert. Accrued Payable
- ----- --------- ---------------- ----------- ------------ --------------
<S> <C> <C> <C> <C> <C>
1-A 8.5000% $0.00 15,250 $0.00 $0.00
1-B 9.0000% $0.00 10,500 $0.00 $0.00
1-C 9.0000% $0.00 6,500 $0.00 $0.00
1-D 9.0000% $6,654,460.34 16,500 $49,908.45 $49,908.45
1-E 9.0000% $12,000,000.00 12,000 $90,000.00 $90,000.00
1-F 0.0000% $0.00 18,500 $0.00 $0.00
1-G 0.0000% $0.00 12,450 $0.00 $0.00
1-H 0.0000% $0.00 4,850 $0.00 $0.00
1-I 259.5000% $37,308.92 152 $8,068.05 $8,068.05
-------------- ------ ----------- -----------
$18,691,769.26 96,702 $147,976.50 $147,976.50
<CAPTION>
Principal Balance
Interest Principal Principal Per $1,000
Payable Per Principal Payable Per Balance After CTF After
$1,000 CTF Payable* $1,000 CTF October 20, 1995 October 20, 1995
----------------- -------------- ------------ ----------------- ----------------
<S> <C> <C> <C> <C>
$0.000000 $0.00 $0.000000 $0.00 $0.000000
$0.000000 $0.00 $0.000000 $0.00 $0.000000
$0.000000 $0.00 $0.000000 $0.00 $0.000000
$3.024755 $536,207.30 $32.497412 $6,118,253.04 $370.803215
$7.500000 - - $12,000,000.00 $1,000.000000
$0.000000 $0.00 $0.000000 $0.00 $0.000000
$0.000000 $0.00 $0.000000 $0.00 $0.000000
$0.000000 $0.00 $0.000000 $0.00 $0.000000
$53.079276 $1,072.41 $7.055329 $36,236.51 $238.398092
----------- --------------
$537,279.71 $18,154,489.55
<CAPTION>
UPPER TIER REMIC REGULAR CERTIFICATES
Interest
COUPON Principal Number of Interest Interest Payable Per Principal
RATE Outstanding Cert. Accrued Payable $1,000 CTF Payable*
--------- ---------------- ----------- ------------ -------------- ----------------- -------------
<S> <C> <C> <C> <C> <C> <C> <C>
1-R 0.0000% $0.00 3,298 $7.97 $7.97 $0.002417 $0.00
<CAPTION>
Principal Balance
Principal Principal Per $1,000
Payable Per Balance After CTF After
$1,000 CTF October 20, 1995 October 20, 1995
------------ ----------------- ----------------
<S> <C> <C>
$0.000000 $0.00 $0.000000
<CAPTION>
LOWER TIER REMIC REGULAR INTERESTS
Principal
COUPON Principal Number of Interest Principal Balance After
Class RATE Outstanding Certificates Accrued Payable* October 20, 1995
- ----- --------- ---------------- ----------- ------------ -------------- -----------------
<S> <C> <C> <C> <C> <C> <C>
1-AS 9.5000% $0.00 15,311 $0.00 $0.00 $0.00
1-BS 9.5000% $0.00 10,521 $0.00 $0.00 $0.00
1-CS 9.5000% $0.00 6,513 $0.00 $0.00 $0.00
1-DS 9.5000% $6,685,187.23 16,533 $52,924.40 $537,279.71 $6,147,907.52
1-ES 9.5000% $12,024,000.00 12,024 $95,190.00 - $12,024,000.00
1-FS 9.5000% $0.00 30,950 $0.00 $0.00 $0.00
1-HS 9.5000% $0.00 8,148 $0.00 $0.00 $0.00
-------------- ------- ----------- ----------- --------------
$18,709,187.23 100,000 $148,114.40 $537,279.71 $18,171,907.52
</TABLE>
<PAGE> 8
<TABLE>
<S> <C> <C>
Agency MBS Collections :
Interest $790,054.51
Principal $99,819.26
Investment Income $307.57
-----------
Lower Tier REMIC Collection Account $890,181.34
-----------
Upper Tier REMIC Collection Account $890,227.64
Aggregate Prin Payable to Holders of
Upper Tier REMIC Regular Certificates ($273,746.19)
Aggregate Interest Payable to Holders of
Upper Tier Remic Regular Certificates ($159,730.84)
Expenses Payable $0.00
REMIC Taxes Payable $0.00
Interest Payable to Class 1-R Certificate ($82,011.91)
Principal Payable to Class 1-R Certificate $0.00
Ending Aggregate Agency MBS Balance: $99,696,539.20
Aggregate Cash Flow Value Decline: $99,819.26
-------------
*Aggregate Amount of Principal Distributable: $99,819.26
Principal Allocation: Class 1-F: 79.16005933%
Class 1-R: 20.83994067%
</TABLE>
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