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Previous: WILLIAM BLAIR MUTUAL FUNDS INC, 485APOS, 1996-03-01 |
Next: TREASURERS FUND INC /MD/, 485BPOS, 1996-03-01 |
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 : February 26, 1996
(Date of earliest event reported)
Commission File No.: 33-72966
The Prudential Home Mortgage Securities Company, Inc.
Delaware 43-1490160
(State of Incorporation) (I.R.S. Employer
Identification No.)
5325 Spectrum Drive
Frederick, Maryland 21701
Address of principal executive offices (Zip Code)
(301) 846-8199
Registrant's Full Telephone Number
(Former name, former address and former fiscal year,
if changed since last report)
<PAGE>
ITEM 5. Other Events
On February 26, 1996 a distribution was made to holders of
certain series of Mortgage Pass-Through Certificates that were
sold by the registrant during the current year.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits
Item 601(a) of
Regulation S-K
Exhibit Number Description
(EX-99.1) Monthly report distributed to holders of Mortgage Pass-
Through Certificates, Series 1996-1, relating to the
February 26, 1996 distribution
<PAGE>
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
THE PRUDENTIAL HOME MORTGAGE SECURITIES COMPANY, INC.
February 26, 1996 /s/ B. DAVID BIALZAK
B. David Bialzak
Vice President
<PAGE>
INDEX TO EXHIBITS
Exhibit Number Description
(EX-99.1) Monthly report distributed to holders of Mortgage Pass-
Through Certificates, Series 1996-1, relating to the
February 26, 1996 distribution
<TABLE>
<CAPTION>
The Prudential Home Mortgage Securities Company, Inc.
Mortgage Pass-Through Certificates
Statements to Certificateholders
Record Date: 31-Jan-1996
Distribution Date: 26-Feb-1996
PHMSC Series 1996-1
Administrator:
Securitized Asset Services Corporation
5325 Spectrum Drive
Frederick, MD 21701
Telephone:(301) 846-8130
Fax:(301) 846-8152
CERTIFICATE INFORMATION
Certificate Original Ending Ending
Pass-Through Face Certificate Certificate
Class CUSIP Rate Amount Balance Percentage
<S> <C> <C> <C> <C> <C>
A-1 74434UVC5 7.40000 51,223,000.00 50,866,466.06 0.99303957
A-2 74434UVD3 6.61000 52,537,000.00 52,171,320.06 0.99303957
A-3 74434UVE1 7.00000 30,425,000.00 30,425,000.00 1.00000000
A-4 74434UVF8 7.00000 19,433,000.00 19,433,000.00 1.00000000
A-5 74434UVG6 7.00000 5,000,000.00 5,000,000.00 1.00000000
A-6 74434UVH4 7.00000 10,000,000.00 9,992,267.66 0.99922677
A-R 74434UVJ0 7.00000 1,000.00 0.00 0.00000000
AP 74434UVK7 0.00000 522,201.33 502,967.50 0.96316779
M 74434UVL5 7.00000 4,534,000.00 4,530,494.16 0.99922677
B-1 74434UVM3 7.00000 3,175,000.00 3,172,544.98 0.99922677
B-2 74434UVN1 7.00000 1,360,000.00 1,358,948.40 0.99922676
B-3 74434UVQ4 7.00000 1,451,000.00 1,449,878.04 0.99922677
B-4 74434UVR2 7.00000 816,000.00 815,369.04 0.99922676
B-5 74434UVS0 7.00000 907,741.82 907,039.92 0.99922676
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
PRINCIPAL DISTRIBUTION
Scheduled Unscheduled
Principal Principal Deferred Realized Principal
Class Distribution Distribution Accretion Interest Loss (1) Distribution
<S> <C> <C> <C> <C> <C> <C>
A-1 63,596.48 292,937.45 0.00 0.00 0.00 356,533.94
A-2 65,227.90 300,452.04 0.00 0.00 0.00 365,679.94
A-3 0.00 0.00 0.00 0.00 0.00 0.00
A-4 0.00 0.00 0.00 0.00 0.00 0.00
A-5 0.00 0.00 0.00 0.00 0.00 0.00
A-6 1,379.25 6,353.09 0.00 0.00 0.00 7,732.34
A-R 178.37 821.63 0.00 0.00 0.00 1,000.00
AP 472.19 18,761.64 0.00 0.00 0.00 19,233.83
M 3,505.84 0.00 0.00 0.00 0.00 3,505.84
B-1 2,455.02 0.00 0.00 0.00 0.00 2,455.02
B-2 1,051.60 0.00 0.00 0.00 0.00 1,051.60
B-3 1,121.96 0.00 0.00 0.00 0.00 1,121.96
B-4 630.96 0.00 0.00 0.00 0.00 630.96
B-5 554.51 0.00 0.00 0.00 147.39 554.51
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses Unless Otherwise Disclosed.
Please Refer To The Prospectus Supplement For A Full Description.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INTEREST DISTRIBUTION
Payment
Current Of Previously Current Non-Supported
Accrued Deferred Unpaid Interest Interest Interest
Class Interest Interest Shortfall Shortfall Shortfall
<S> <C> <C> <C> <C> <C>
A-1 315,875.17 0.00 0.00 0.00 0.00
A-2 289,391.31 0.00 0.00 0.00 0.00
A-3 177,479.17 0.00 0.00 0.00 0.00
A-4 113,359.17 0.00 0.00 0.00 0.00
A-5 29,166.67 0.00 0.00 0.00 0.00
A-6 58,333.33 0.00 0.00 0.00 0.00
A-R 5.83 0.00 0.00 0.00 0.00
AP 0.00 0.00 0.00 0.00 0.00
M 26,448.33 0.00 0.00 0.00 0.00
B-1 18,520.83 0.00 0.00 0.00 0.00
B-2 7,933.33 0.00 0.00 0.00 0.00
B-3 8,464.17 0.00 0.00 0.00 0.00
B-4 4,760.00 0.00 0.00 0.00 0.00
B-5 5,295.16 0.00 0.00 0.00 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INTEREST DISTRIBUTION
Remaining Ending
Cumulative Unpaid Certificate/Notional Realized Interest
Class Interest Shortfall Balance Losses (2) Distribution
<S> <C> <C> <C> <C>
A-1 0.00 50,866,466.06 0.00 315,875.17
A-2 0.00 52,171,320.06 0.00 289,391.31
A-3 0.00 30,425,000.00 0.00 177,479.17
A-4 0.00 19,433,000.00 0.00 113,359.17
A-5 0.00 5,000,000.00 0.00 29,166.67
A-6 0.00 9,992,267.66 0.00 58,333.33
A-R 0.00 0.00 0.00 5.83
AP 0.00 502,967.50 0.00 0.00
M 0.00 4,530,494.16 0.00 26,448.33
B-1 0.00 3,172,544.98 0.00 18,520.83
B-2 0.00 1,358,948.40 0.00 7,933.33
B-3 0.00 1,449,878.04 0.00 8,464.17
B-4 0.00 815,369.04 0.00 4,760.00
B-5 0.00 907,039.92 0.00 5,295.16
<FN>
(2) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses Unless Otherwise Disclosed.
Please Refer To The Prospectus Supplement For A Full Description.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
PREPAYMENT INTEREST SHORTFALL/SERVICING FEES
<S> <C>
Total Prepayment Interest Shortfall 1,611.45
Servicing Fee Support 1,611.45
Non-Supported Prepayment Interest Shortfall 0.00
Gross Servicing Fee 33,413.55
Supported Prepayment Interest Shortfall 1,611.45
Net Servicing Fee 31,802.10
</TABLE>
<TABLE>
<CAPTION>
SERVICER ADVANCES
<S> <C>
Beginning Balance 0.00
Current Period Advances By Servicer 39,283.59
Reimbursement of Advances 0.00
Ending Cumulative Advances 39,283.59
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY STATUS
Current Unpaid
Number of Number Of Principal
Days Loans Balance
<S> <C> <C>
30 Days 0 0.00
60 Days 0 0.00
90+ Days 0 0.00
Foreclosure 0 0.00
REO 0 0.00
Totals 0 0.00
</TABLE>
<TABLE>
<CAPTION>
ADDITIONAL DELINQUENCY STATUS INFORMATION
<S> <C>
Principal Balance of Contaminated Properties 0.00
Periodic Advance 105,487.40
Current Period Realized Loss - Includes Interest Shortfall 147.39
Cumulative Realized Losses - Includes Interest Shortfall 147.39
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed Fixed Ratio Strip
Weighted Average Gross Coupon 7.652000%
Weighted Average Pass-Through Rate 7.000000%
Weighted Average Maturity (Stepdown Calculation) 352 Months
Beginning Scheduled Collateral Loan Count 644
Number of Loans Paid in Full 2
Ending Scheduled Collateral Loan Count 642
Beginning Scheduled Collateral Balance 181,384,943.15
Ending Scheduled Collateral Balance 180,625,295.82
Ending Actual Collateral Balance at 31-Jan-1996 181,384,943.15
Monthly P&I Constant 1,229,094.02
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Loss Description Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 100,000.00 0.05513137% 100,000.00 0.05536323%
Fraud 3,627,698.91 2.00000003% 3,627,698.91 2.00841133%
Special Hazard 2,031,879.96 1.12020321% 2,031,879.96 1.12491440%
<FN>
Limit of Subordination's Exposure for 100% of Certain Types of Losses
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SUBORDINATION LEVEL
Class Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
A 12,243,741.82 6.75014233% 12,234,274.54 6.77328969%
M 7,709,741.82 4.25048611% 7,703,780.38 4.26506174%
B-1 4,534,741.82 2.50006519% 4,531,235.40 2.50863833%
B-2 3,174,741.82 1.75027859% 3,172,287.00 1.75628058%
B-3 1,723,741.82 0.95032244% 1,722,408.96 0.95358125%
B-4 907,741.82 0.50045048% 907,039.92 0.50216661%
B-5 0.00 0.00000000% 0.00 0.00000000%
<FN>
Please refer to the Prospectus Supplement For A Full Description Of Loss Exposure
</TABLE>
<PAGE>
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