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Previous: SOURCE ONE MORTGAGE SERVICES CORP, 8-K, 1997-06-03 |
Next: EPITOPE INC/OR/, DEFA14A, 1997-06-03 |
<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: May 29, 1997
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: (248) 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 May 25, 1997 for Series 1987-2,
Distribution Reports as of June 1, 1997 for Series 1988-1 and 1988-2
and Distribution Reports as of May 20, 1997 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: May 29, 1997
By: /s/ Larry N. Ciofu
-------------------------------------
Larry N. Ciofu
Vice President
<PAGE> 3
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1987-2
Distribution Date Statement for May 25, 1997
<TABLE>
<CAPTION>
Interest Principal
COUPON Principal Number of Interest Interest Payable Per Principal Payable Per
Class RATE Outstanding Certificates Accrued Payable $1,000 CTF Payable $1,000 CTF
- ----- --------- -------------- ------------ ----------- ------------- ----------- --------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
2-A 0.0000% $ 0.00 45,100 $ 0.00 $ 0.00 $ 0.000000 $ 0.000000
2-B 7.0000% $ 0.00 18,000 $ 0.00 $ 0.00 $ 0.000000 $ 0.000000
2-C 7.0000% $ 0.00 19,700 $ 0.00 $ 0.00 $ 0.000000 $ 0.000000
2-D 9.5500% $ 0.00 124 $ 0.00 $ 0.00 $ 0.000000 $ 0.00 -
2-E 9.9500% $12,492,642.10 5,200 $103,584.82 $ 103,584.82 $ 19.920158 $189,511.98 $ 36.444612
-------------- ------------ ------------ ------------- -----------
$12,492,642.10 88,124 $103,584.82 $ 103,584.82 $189,511.98
<CAPTION>
Principal Per $1,000
Balance After CTF After
Class May 25, 1997 May 25, 1997
- ----- ------------- -------------
<S> <C> <C>
2-A $ 0.000000
2-B $ 0.000000
2-C $ 0.000000
2-D $ 0.00 $ 0.000000
2-E $12,303,130.12 $2,365.986562
--------------
$12,303,130.12
Ending Aggregate Agency MBS Balance: $12,322,921.24
Accrual Distribution Amount: $0.00
Aggregate Cash Flow Value Decline: $189,511.98
<CAPTION>
<S> <C> <C>
Agency MBS Collections :
Interest $104,270.30
Principal $189,511.98
Investment Income $ 372.25
-----------
TOTAL AVAILABLE $294,154.53
Due to Certificateholders $293,096.80
-----------
Available for Expenses and Residual Payments $ 1,057.73 THE FIRST NATIONAL BANK OF CHICAGO,
as Trustee
Expenses Payable ($303.84) Corporate Trust Division
Suite 0126
----------- One First National Plaza
Net Balance $ 753.89 Chicago, Illinois 60670
=========== (312)407-4660
Due to Residual Holders $ 753.89 ** THIS IS A REDEMPTION PAYMENT TO SPECIFIC HOLDERS ELECTING A PUT
OPTION.
Amount Payable Per Individual
Residual Certificate (5% Denomination): $ 37.6945
</TABLE>
<PAGE> 4
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1988-1
Distribution Date Statement for June 1, 1997
<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% $12,789,850.34 10,440 $105,516.27 $105,516.27
-------------- ------------ ----------- -----------
$12,789,850.34 100,000 $105,516.27 $105,516.27
<CAPTION>
Principal Balance
Interest Principal Principal Per $1,000
Payable Per Principal Payable Per Balance After CTF After
Class $1,000 CTF Payable* $1,000 CTF June 1, 1997 June 1, 1997
- ----- ---------- ------------- ----------- ---------------- -----------------
<S> <C> <C> <C> <C> <C> <C>
A $ 0.000000 $ 0.00 $ 0.000000 $ 0.00 $ 0.000000
B $ 0.000000 $ 0.00 $ 0.000000 $ 0.00 $ 0.000000
Z $10.106922 $ 120,753.66 $11.566443 $ 12,669,096.68 $ 1,213.515008
------------ ---------------
$ 120,753.66 $ 12,669,096.68
Ending Aggregate Agency MBS Balance: $ 12,669,364.21
Accrual Distribution Amount: $0.00
Aggregate Cash Flow Value Decline: $120,753.66
---------------
*Aggregate Amount of Principal Distributable: $120,753.66
<CAPTION>
<S> <C> <C>
Agency MBS Collections :
Interest $ 106,584.32
Principal $ 120,753.66
Investment Income $ 643.49
---------------
TOTAL AVAILABLE $ 227,981.47
Due to Certificateholders ($226,269.93)
---------------
Available for Expenses and Residual Payments $ 1,711.54
Expenses Payable ($312.20)
--------------- THE FIRST NATIONAL BANK OF CHICAGO,
Net Balance $ 1,399.34 as Trustee
=============== Corporate Trust Division
Suite 0126
Due to Residual Holders $ 1,399.34 One First National Plaza
Chicago, Illinois 60670
Amount Payable Per Individual (312)407-4660
Residual Certificate (5% Denomination): $ 69.9670 *
</TABLE>
<PAGE> 5
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1988-2
Distribution Date Statement for June 1, 1997
<TABLE>
<CAPTION>
Interest Principal
COUPON Principal Number of Interest Interest Payable Per Principal Payable Per
Class RATE Outstanding Certificates Accrued Payable $1,000 CTF Payable* $1,000 CTF
- ----- -------- -------------- ------------ ----------- ----------- --------------- ----------- -------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
2-A 0.0000% $ 0.00 39,750 $ 0.00 $ 0.00 $ 0.000000 $ 0.00 $ 0.000000
2-B 7.0000% $ 0.00 24,540 $ 0.00 $ 0.00 $ 0.000000 $ 0.00 $ 0.000000
2-C 7.0000% $ 0.00 10,930 $ 0.00 $ 0.00 $ 0.000000 $ 0.00 $ 0.000000
2-D 7.0000% $ 0.00 14,580 $ 0.00 $ 0.00 $ 0.000000 $ 0.00 $ 0.000000
2-Z 9.4000% $15,794,227.72 10,200 $123,721.45 $123,721.45 $ 12.129554 $409,246.08 $ 40.122165
-------------- ------------ ----------- ----------- -----------
$15,794,227.72 100,000 $123,721.45 $123,721.45 $409,246.08
<CAPTION>
Principal Balance
Principal Per $1,000
Balance After CTF After
Class June 1, 1997 June 1, 1997
- ----- ------------- -----------------
<S> <C> <C>
2-A $ 0.00 $ 0.000000
$ 0.00 $ 0.000000
2-B
$ 0.00 $ 0.000000
2-C
$ 0.00 $ 0.000000
2-D
$15,384,981.64 $ 1,508.331533
2-Z --------------
$15,384,981.64
Ending Aggregate Agency MBS Balance: $15,384,996.39
Accrual Distribution Amount: $ 0.00
Aggregate Cash Flow Value Decline: $409,246.08
-----------
*Aggregate Amount of Principal Distributable: $409,246.08
Principal Allocation: Class 2-A: 0.0000%
Class 2-D: 0.0000%
<CAPTION>
<S> <C> <C>
Agency MBS Collections:
Interest $125,037.73
Principal $409,246.08
Investment Income $ 997.38
-----------
TOTAL AVAILABLE $535,281.19
Due to Certificateholders ($532,967.53)
------------
Available for Expenses and Residual
Payments $ 2,313.66
Expenses Payable ($366.07)
THE FIRST NATIONAL BANK OF CHICAGO,
Net Balance $ 1,947.59 as Trustee
============ Corporate Trust Division
Suite 0126
One First National Plaza
Due to Residual Holders $ 1,947.59 Chicago, Illinois 60670
(312)407-4660
Amount Payable Per Individual
Residual Certificate (5% Denomination): $ 97.3795
</TABLE>
<PAGE> 6
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1990-1
Distribution Date Statement for May 20, 1997
UPPER TIER REMIC REGULAR CERTIFICATES
<TABLE>
<CAPTION>
Interest Principal
COUPON Principal Number of Interest Interest Payable Per Principal Payable Per
Class RATE Outstanding Cert. Accrued Payable $1,000 CTF Payable* $1,000 CTF
- ----- ---------- ---------------- ----------- ------------ -------------- ----------------- -------------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1-A 8.5000% $0.00 15,250 $0.00 $0.00 $0.000000 $0.00 $0.000000
1-B 9.0000% $0.00 10,500 $0.00 $0.00 $0.000000 $0.00 $0.000000
1-C 9.0000% $0.00 6,500 $0.00 $0.00 $0.000000 $0.00 $0.000000
1-D 9.0000% $0.00 16,500 $0.00 $0.00 $0.000000 $0.00 $0.000000
1-E 9.0000% $10,911,054.89 12,000 $81,832.91 $81,832.91 $6.819409 $358,794.51 $29.899543
1-F 0.0000% $0.00 18,500 $0.00 $0.00 $0.000000 $0.00 $0.000000
1-G 0.0000% $0.00 12,450 $0.00 $0.00 $0.000000 $0.00 $0.000000
1-H 0.0000% $0.00 4,850 $0.00 $0.00 $0.000000 $0.00 $0.000000
1-I 259.5000% $21,822.11 152 $4,719.03 $4,719.03 $31.046250 $717.59 $4.720987
---------------- ----------- ------------ -------------- --------------
$10,932,877.00 96,702 $86,551.94 $86,551.94 $359,512.10
<CAPTION>
Principal Balance
Principal Per $1,000
Balance After CTF After
Class May 20, 1997 May 20, 1997
- ----- ---------------- --------------------
<S> <C> <C>
1-A $0.00 $0.000000
1-B $0.00 $0.000000
1-C $0.00 $0.000000
1-D $0.00 $0.000000
1-E $10,552,260.38 $879.355032
1-F $0.00 $0.000000
1-G $0.00 $0.000000
1-H $0.00 $0.000000
1-I $21,104.52 $138.845526
---------------
$10,573,364.90
</TABLE>
UPPER TIER REMIC REGULAR CERTIFICATES
<TABLE>
<CAPTION>
Interest Principal
COUPON Principal Number of Interest Interest Payable Per Principal Payable Per
RATE Outstanding Cert. Accrued Payable $1,000 CTF Payable* $1,000 CTF
--------- ------------- --------- ------------ ----------- ----------------- -------------- ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1-R 0.0000% $0.00 3,298 $7.95 $7.95 $0.002411 $0.00 $0.000000
<CAPTION>
Principal Balance
Principal Per $1,000
Balance After CTF After
May 20, 1997 May 20, 1997
----------------- ------------------
<S> <C> <C>
1-R $0.00 $0.000000
</TABLE>
LOWER TIER REMIC REGULAR INTERESTS
<TABLE>
<CAPTION>
Principal
COUPON Principal Number of Interest Principal Balance After
Class RATE Outstanding Certificates Accrued Payable* May 20, 1997
- ----- ---------- ---------------- ----------- ------------ -------------- -----------------
<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% $0.00 16,533 $0.00 $0.00 $0.00
1-ES 9.5000% $11,441,006.51 12,024 $90,574.63 $359,512.10 $11,081,494.41
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
---------------- ----------- ------------ -------------- -----------------
$11,441,006.51 100,000 $90,574.63 $359,512.10 $11,081,494.41
</TABLE>
<PAGE> 7
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1990-1
DISTRIBUTION DATE STATEMENT FOR May 20, 1997
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Beginning Aggregate Agency MBS Balance : $100,001,006.61
Agency MBS Collections : Ending Aggregate Agency MBS Balance : $ 10,574,371.33
Interest $ 86,559.89
Principal $359,512.10
Investment Income $ 213.89 Aggregate Cash Flow Value Decline: $ 359,512.10
----------- ----------------
Lower Tier REMIC Collection Account $446,285.88 *Aggregate Amount of Principal Distributable: $ 359,512.10
-----------
Upper Tier REMIC Collection Account $446,285.88
Aggregate Prin Payable to Holders of Principal Allocation:
Upper Tier REMIC Regular Certificate ($359,512.10)
Aggregate Interest Payable to Holders of Aggregate Amount of Principal
Upper Tier REMIC Regular Certificates ($86,551.94) Distributable to Classes 1-D and 1-I:
Expenses Payable $ 0.00
Class 1-E: 2.98995425%
Class 1-I: 0.47209868%
REMIC Taxes Payable $ 0.00 Aggregate Amount of Principal
Distributable to Classes 1-G,1-H and 1-R :
Interest Payable to Class 1-R Certificate ($7.95)
Class 1-R: 0.00000000%
Principal Payable to Class 1-R Certificate $ 0.00
Due to Class 1-RS Certificate ($213.89)
---------- THE FIRST NATIONAL BANK OF CHICAGO,
Net Balance $ 0.00 as Trustee
========== Corporate Trust Division
Suite 0126
One First National Plaza
Chicago, Illinois 60670
(312)407-4660
</TABLE>
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