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Previous: TOCQUEVILLE TRUST, NSAR-A, 1998-06-30 |
Next: SOURCE ONE MORTGAGE SERVICES CORP, 8-K, 1998-06-30 |
<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: June 23, 1998
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
Farmington Hills, Michigan 48334-3357
-------------------------- ----------
(Address of principal (Zip Code)
executive offices)
Registrant's telephone number, including area code: (248) 488-7000
Total Pages: 8
<PAGE> 2
Item 5. Other Events
None applicable.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
See attached Distribution Reports as of June 25, 1998 for Series 1987-1
and 1987-2, Distribution Reports as of July 1, 1998 for Series 1988-1
and 1988-2 and Distribution Reports as of June 20, 1998 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: June 23, 1998 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 1987-1
Distribution Date Statement for 25-Jun-98
<TABLE>
<CAPTION>
Interest
COUPON Principal Number of Interest Payable Per Principal
Class RATE Outstanding Certificates Payable $1,000 CTF Payable*
- -------------------------------- ------------------ ---------------- ----------------- ------------------ -----------------
<S> <C> <C> <C> <C> <C> <C>
A 6.5500% $7,772,613.30 62,500 $127,276.54 $2.036425 $778,073.68
B 6.0000% $0.00 13,700 $0.00 $0.000000 $0.00
C 6.0000% $0.00 26,900 $0.00 $0.000000 $0.00
D 6.0000% $7,772,613.31 21,900 $116,589.20 $5.323708 $778,073.68
-------------------- -------------- ----------------- -----------------
$15,545,226.61 125,000 $243,865.74 $1,556,147.36
<CAPTION>
Principal Balance
Principal Principal Per $1,000
Payable Per Balance After CTF After
Class $1,000 CTF 25-Jun-98 25-Jun-98
- -------------------- --------------- ---------------- ----------------
<S> <C> <C> <C>
A $12.449179 $6,994,539.62 $111.912634
B $0.000000 $0.00 $0.000000
C $0.000000 $0.00 $0.000000
D $35.528479 $6,994,539.63 $319.385371
----------------
$13,989,079.25
</TABLE>
<TABLE>
<S> <C> <C> <C>
*Aggregate Cash Flow Value Decline: $1,556,147.35 Principal Allocation: Class A 50.00000%
Ending Aggregate Agency MBS Balance: $13,991,936.53 Class D 50.00000%
Agency MBS Collections :
Interest $355,997.09 THE FIRST NATIONAL BANK OF CHICAGO,
Principal $1,556,147.35 as Trustee
Investment Income $8,334.59 Corporate Trust Division
------------------- Suite 0126
TOTAL AVAILABLE $1,920,479.03 One First National Plaza
Chicago, Illinois 60670
Due to Certificateholders ($1,800,013.10) (312)407-4660
Expenses Payable ($5,674.45)
-------------------
Due to Residual Holders $114,791.48
===================
Amount Payable Per Individual
Residual Certificate (5% Denomination): $5,739.5740
</TABLE>
<PAGE> 4
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1987-2
Distribution Date Statement for 25-Jun-98
<TABLE>
<CAPTION>
COUPON Principal Number of Interest Interest
Class RATE Outstanding Certificates Accrued Payable
- ----- -------- ---------------- ----------- -------------- ----------------
<S> <C> <C> <C> <C> <C>
2-A 0.0000% $0.00 45,100 $0.00 $0.00
2-B 7.0000% $0.00 18,000 $0.00 $0.00
2-C 7.0000% $0.00 19,700 $0.00 $0.00
2-D 9.5500% $0.00 124 $0.00 $0.00
2-E 9.9500% $9,686,519.46 5,200 $80,317.39 $80,317.39
---------------- ----------- -------------- ----------------
$9,686,519.46 88,124 $80,317.39 $80,317.39
<CAPTION>
Interest Principal Principal Per $1,000
Payable Per Principal Payable Per Balance After CTF After
Class $1,000 CTF Payable $1,000 CTF 25-Jun-98 25-Jun-98
- ----- ------------ -------------- ---------------- ----------------- ----------------
<S> <C> <C> <C> <C> <C>
2-A $0.000000 $0.000000 $0.000000 $0.00 $0.000000
2-B $0.000000 $0.000000 $0.000000 $0.00 $0.000000
2-C $0.000000 $0.000000 $0.000000 $0.00 $0.000000
2-D $0.000000 $0.000000 - $0.00 $0.000000
2-E $15.445652 $336,074.34 $64.629681 $9,350,445.12 $1,798.162523
-------------- -----------------
$336,074.34 $9,350,445.12
Ending Aggregate Agency MBS Balance: $9,370,236.21
</TABLE>
<TABLE>
<S> <C> <C> <C>
Agency MBS Collections:
Interest $80,885.90
Principal $336,074.34 Accrual Distribution Amount: $0.00
Investment Income $367.13 Aggregate Cash Flow Value Decline: $336,074.34
----------------
TOTAL AVAILABLE $417,327.37
Due to Certificateholders $416,391.73
----------------
Available for Expenses
and Residual Payments $935.64
THE FIRST NATIONAL BANK OF CHICAGO,
Expenses Payable ($252.49) as Trustee
Corporate Trust Division
---------------- Suite 0126
Net Balance $683.15 One First National Plaza
================ Chicago, Illinois 60670
(312)407-4660
Due to Residual Holders $683.15 ** THIS IS A REDEMPTION PAYMENT TO SPECIFIC HOLDERS ELECTING A PUT
OPTION.
Amount Payable Per Individual
Residual Certificate
(5% Denomination): $34.1575
</TABLE>
<PAGE> 5
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1988-1
Distribution Date Statement for 1-Jul-98
<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% $9,522,120.45 10,440 $78,557.49 $78,557.49
---------------- ----------- -------------- ----------------
$9,522,120.45 100,000 $78,557.49 $78,557.49
<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 1-Jul-98 1-Jul-98
- ----- ------------ -------------- ------------ ---------------- ----------------
<S> <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 $7.524664 $197,042.49 $18.873802 $9,325,077.96 $893.206701
-------------- ----------------
$197,042.49 $9,325,077.96
Ending Aggregate Agency MBS Balance: $9,325,345.49
</TABLE>
<TABLE>
<S> <C> <C> <C>
Agency MBS Collections :
Interest $79,353.23
Principal $197,042.49 Accrual Distribution Amount: $0.00
Investment Income $966.86 Aggregate Cash Flow Value Decline: $197,042.49
---------------- ----------------
TOTAL AVAILABLE $277,362.58 *Aggregate Amount of Principal Distributable: $197,042.49
Due to Certificateholders ($275,599.98)
----------------
Available for Expenses
and Residual Payments $1,762.60
Expenses Payable ($259.24)
---------------- THE FIRST NATIONAL BANK OF CHICAGO,
Net Balance $1,503.36 as Trustee
================ Corporate Trust Division
Suite 0126
One First National Plaza
Due to Residual Holders $1,503.36 Chicago, Illinois 60670
(312)407-4660
Amount Payable Per Individual
Residual Certificate
(5% Denomination): $75.1680
</TABLE>
<PAGE> 6
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1988-2
Distribution Date Statement for 1-Jul-98
<TABLE>
<CAPTION>
COUPON Principal Number of Interest Interest
Class RATE Outstanding Certificates Accrued Payable
- ----- -------- ---------------- ----------- -------------- ----------------
<S> <C> <C> <C> <C> <C>
2-A 0.0000% $0.00 39,750 $0.00 $0.00
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% $0.00 14,580 $0.00 $0.00
2-Z 9.4000% $12,214,500.56 10,200 $95,680.25 $95,680.25
---------------- ----------- -------------- ----------------
$12,214,500.56 100,000 $95,680.25 $95,680.25
<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 1-Jul-98 1-Jul-98
- ----- ------------ --------------- ------------ ---------------- ----------------
<S> <C> <C> <C> <C> <C>
2-A $0.000000 $0.00 $0.000000 $0.00 $0.000000
2-B $0.000000 $0.00 $0.000000 $0.00 $0.000000
2-C $0.000000 $0.00 $0.000000 $0.00 $0.000000
2-D $0.000000 $0.00 $0.000000 $0.00 $0.000000
2-Z $9.380417 $552,694.14 $54.185700 $11,661,806.42 $1,143.314355
--------------- ----------------
$552,694.14 $11,661,806.42
Ending Aggregate Agency MBS Balance: $11,661,821.17
</TABLE>
<TABLE>
<S> <C> <C> <C>
Agency MBS Collections :
Interest $96,698.23
Principal $552,694.14 Accrual Distribution Amount: $0.00
Investment Income $604.55 Aggregate Cash Flow Value Decline: $552,694.14
---------------- ----------------
TOTAL AVAILABLE $649,996.92 *Aggregate Amount of Principal Distributable: $552,694.14
Due to Certificateholders ($648,374.39) Principal Allocation: Class 2-A: 0.0000%
---------------- Class 2-D: 0.0000%
Available for Expenses
and Residual Payments $1,622.53
Expenses Payable ($343.62)
THE FIRST NATIONAL BANK OF CHICAGO,
Net Balance $1,278.91 as Trustee
================== Corporate Trust Division
Suite 0126
One First National Plaza
Due to Residual Holders $1,278.91 Chicago, Illinois 60670
(312)407-4660
Amount Payable Per Individual
Residual Certificate
(5% Denomination): $63.9455
</TABLE>
<PAGE> 7
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1990-1
Distribution Date Statement for 20-Jun-98
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% $0.00 16,500 $0.00 $0.00
1-E 9.0000% $7,857,551.65 12,000 $58,931.64 $58,931.64
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% $15,715.11 152 $3,398.39 $3,398.39
---------------- ----------- ------------ --------------
$7,873,266.76 96,702 $62,330.03 $62,330.03
<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 20-Jun-98 20-Jun-98
- ----- ----------------- -------------- ------------ ----------------- ----------------
<S> <C> <C> <C> <C> <C>
1-A $0.000000 $0.00 $0.000000 $0.00 $0.000000
1-B $0.000000 $0.00 $0.000000 $0.00 $0.000000
1-C $0.000000 $0.00 $0.000000 $0.00 $0.000000
1-D $0.000000 $0.00 $0.000000 $0.00 $0.000000
1-E $4.910970 $167,414.17 $13.951181 $7,690,137.48 $640.844790
1-F $0.000000 $0.00 $0.000000 $0.00 $0.000000
1-G $0.000000 $0.00 $0.000000 $0.00 $0.000000
1-H $0.000000 $0.00 $0.000000 $0.00 $0.000000
1-I $22.357829 $334.83 $2.202829 $15,380.28 $101.186053
-------------- -----------------
$167,749.00 $7,705,517.76
</TABLE>
UPPER TIER REMIC REGULAR CERTIFICATES
<TABLE>
<CAPTION>
COUPON Principal Number of Interest Interest
RATE Outstanding Cert. Accrued Payable
----------- ---------------- ----------- ------------ --------------
<S> <C> <C> <C> <C> <C>
1-R 0.0000% $0.00 3,298 $7.96 $7.96
<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 20-Jun-98 20-Jun-98
----------------- -------------- ------------ ----------------- ----------------
<S> <C> <C> <C> <C> <C>
1-R $0.002414 $0.00 $0.000000 $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* 20-Jun-98
- ----- ----------- ---------------- ----------- ------------ -------------- -----------------
<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% $8,828,382.36 12,024 $74,674.61 $167,749.00 $8,660,633.36
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
---------------- ----------- ------------ -------------- -----------------
$8,828,382.36 100,000 $74,674.61 $167,749.00 $8,660,633.36
</TABLE>
<PAGE> 8
FIREMAN'S FUND MORTGAGE CORPORATION
AGENCY MBS MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1990-1
DISTRIBUTION DATE STATEMENT FOR June 20, 1998
<TABLE>
<S> <C> <C> <C>
Beginning Aggregate Agency MBS Balance : $100,001,006.61
Agency MBS Collections : Ending Aggregate Agency MBS Balance : $7,706,524.19
Interest $62,337.99
Principal $167,749.00
Investment Income $119.64 Aggregate Cash Flow Value Decline: $167,749.00
---------------- ----------------
Lower Tier REMIC Collection Account $230,206.63 *Aggregate Amount of Principal Distributable: $167,749.00
----------------
Upper Tier REMIC Collection Account $230,206.63
Aggregate Prin Payable to Holders of Principal Allocation:
Upper Tier REMIC Regular Certificate ($167,749.00)
Aggregate Interest Payable to Holders of Aggregate Amount of Principal
Upper Tier REMIC Regular Certificates ($62,330.03) Distributable to Classes 1-D and 1-I:
Expenses Payable $0.00
Class 1-E: 1.39511808%
Class 1-I: 0.22028289%
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 ($7.96)
Class 1-R: 0.00000000%
Principal Payable to Class 1-R Certificate $0.00
Due to Class 1-RS Certificate ($119.64)
---------------- 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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