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Previous: COLUMBIA LABORATORIES INC, 10-K, 1996-03-27 |
Next: OPTIMAX INDUSTRIES INC, NT 10-K, 1996-03-27 |
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 : March 25, 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 March 25, 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
March 25,1996 distribution
(EX-99.2) Monthly report distributed to holders of Mortgage Pass-
Through Certificates, Series 1996-2, relating to the
March 25,1996 distribution
(EX-99.3) Monthly report distributed to holders of Mortgage Pass-
Through Certificates, Series 1996-3, relating to the
March 25,1996 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.
March 25, 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
March 25,1996 distribution
(EX-99.2) Monthly report distributed to holders of Mortgage Pass-
Through Certificates, Series 1996-2, relating to the
March 25,1996 distribution
(EX-99.3) Monthly report distributed to holders of Mortgage Pass-
Through Certificates, Series 1996-3, relating to the
March 25,1996 distribution
<TABLE>
<CAPTION>
The Prudential Home Mortgage Securities Company, Inc.
Mortgage Pass-Through Certificates
Statements to Certificateholders
Record Date: 29-Feb-1996
Distribution Date: 25-Mar-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 50,683,805.03 0.98947358
A-2 74434UVD3 6.61000 52,537,000.00 51,983,973.31 0.98947358
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 9,984,468.13 0.99844681
A-R 74434UVJ0 7.00000 1,000.00 0.00 0.00000000
AP 74434UVK7 0.00000 522,201.33 499,312.61 0.95616878
M 74434UVL5 7.00000 4,534,000.00 4,526,957.85 0.99844681
B-1 74434UVM3 7.00000 3,175,000.00 3,170,068.63 0.99844681
B-2 74434UVN1 7.00000 1,360,000.00 1,357,887.67 0.99844682
B-3 74434UVQ4 7.00000 1,451,000.00 1,448,746.33 0.99844682
B-4 74434UVR2 7.00000 816,000.00 814,732.60 0.99844681
B-5 74434UVS0 7.00000 907,741.82 906,331.93 0.99844682
</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 63,357.73 119,303.30 0.00 0.00 0.00 182,661.03
A-2 64,983.02 122,363.73 0.00 0.00 0.00 187,346.75
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 2,705.34 5,094.19 0.00 0.00 0.00 7,799.53
A-R 0.00 0.00 0.00 0.00 0.00 0.00
AP 472.04 3,182.85 0.00 0.00 0.00 3,654.90
M 3,536.31 0.00 0.00 0.00 0.00 3,536.31
B-1 2,476.35 0.00 0.00 0.00 0.00 2,476.35
B-2 1,060.74 0.00 0.00 0.00 0.00 1,060.74
B-3 1,131.71 0.00 0.00 0.00 0.00 1,131.71
B-4 636.44 0.00 0.00 0.00 0.00 636.44
B-5 708.00 0.00 0.00 0.00 0.00 708.00
<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-1 313,676.54 0.00 0.00 0.00 0.00
A-2 287,377.02 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 58,288.23 0.00 0.00 0.00 0.00
A-R 0.00 0.00 0.00 0.00 0.00
AP 0.00 0.00 0.00 0.00 0.00
M 26,427.88 0.00 0.00 0.00 0.00
B-1 18,506.51 0.00 0.00 0.00 0.00
B-2 7,927.20 0.00 0.00 0.00 0.00
B-3 8,457.62 0.00 0.00 0.00 0.00
B-4 4,756.32 0.00 0.00 0.00 0.00
B-5 5,291.07 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 50,683,805.03 0.00 313,676.54
A-2 0.00 51,983,973.31 0.00 287,377.02
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 9,984,468.13 0.00 58,288.23
A-R 0.00 0.00 0.00 0.61
AP 0.00 499,312.61 0.00 0.00
M 0.00 4,526,957.85 0.00 26,427.88
B-1 0.00 3,170,068.63 0.00 18,506.51
B-2 0.00 1,357,887.67 0.00 7,927.20
B-3 0.00 1,448,746.33 0.00 8,457.62
B-4 0.00 814,732.60 0.00 4,756.32
B-5 0.00 906,331.93 0.00 5,291.07
<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 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment Interest Shortfall 0.00
Gross Servicing Fee 33,278.76
Supported Prepayment Interest Shortfall 0.00
Net Servicing Fee 33,278.76
</TABLE>
<TABLE>
<CAPTION>
SERVICER ADVANCES
<S> <C>
Beginning Balance 39,283.59
Current Period Advances By Servicer 68,266.86
Reimbursement of Advances 39,283.59
Ending Cumulative Advances 68,266.86
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY STATUS
Current Unpaid
Number of Number Of Principal
Days Loans Balance
<S> <C> <C>
30 Days 2 528,015.04
60 Days 0 0.00
90+ Days 0 0.00
Foreclosure 0 0.00
REO 0 0.00
Totals 2 528,015.04
</TABLE>
<TABLE>
<CAPTION>
ADDITIONAL DELINQUENCY STATUS INFORMATION
<S> <C>
Principal Balance of Contaminated Properties 0.00
Periodic Advance 130,070.90
Current Period Realized Loss - Includes Interest Shortfall 0.00
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 7.651795%
Weighted Average Pass-Through Rate 7.000000%
Weighted Average Maturity (Stepdown Calculation) 351 Months
Beginning Scheduled Collateral Loan Count 642
Number of Loans Paid in Full 1
Ending Scheduled Collateral Loan Count 641
Beginning Scheduled Collateral Balance 180,625,295.82
Ending Scheduled Collateral Balance 180,234,284.07
Ending Actual Collateral Balance at 29-Feb-1996 180,587,731.40
Monthly P&I Constant 1,225,280.68
</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 0.05548334%
Fraud 3,627,698.91 2.00000003% 3,627,698.91 2.01276851%
Special Hazard 2,031,879.96 1.12020321% 2,031,879.96 1.12735486%
<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% 12,224,725.01 6.78268570%
M 7,709,741.82 4.25048611% 7,697,767.16 4.27097830%
B-1 4,534,741.82 2.50006519% 4,527,698.53 2.51211835%
B-2 3,174,741.82 1.75027859% 3,169,810.86 1.75871693%
B-3 1,723,741.82 0.95032244% 1,721,064.53 0.95490408%
B-4 907,741.82 0.50045048% 906,331.93 0.50286322%
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>
<TABLE>
<CAPTION>
The Prudential Home Mortgage Securities Company, Inc.
Mortgage Pass-Through Certificates
Statements to Certificateholders
Record Date: 29-Feb-1996
Distribution Date: 25-Mar-1996
PHMSC Series 1996-2
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 74434UWU4 7.25000 9,667,860.00 9,529,102.36 0.98564753
A-2 74434UWV2 7.25000 9,810,363.00 9,810,363.00 1.00000000
A-3 74434UWW0 7.25000 20,750,000.00 20,750,000.00 1.00000000
A-4 74434UWX8 7.25000 21,800,000.00 21,800,000.00 1.00000000
A-5 74434UWY6 7.25000 39,857,900.00 39,830,870.12 0.99932184
A-6 74434UWZ3 7.00000 4,996,513.00 4,927,134.20 0.98611456
A-7 74434UXR0 7.45000 57,959,566.00 57,154,771.59 0.98611455
A-8 74434UXA7 7.25000 44,500,000.00 43,635,495.96 0.98057294
A-9 74434UXB5 7.25000 5,250,000.00 5,250,000.00 1.00000000
A-10 74434UXC3 7.25000 5,000,000.00 5,000,000.00 1.00000000
A-11 74434UXD1 7.00000 5,325,000.00 5,325,000.00 1.00000000
A-12 74434UXE9 8.00000 1,775,000.00 1,775,000.00 1.00000000
A-13 74434UXF6 7.00000 3,000,000.00 3,000,000.00 1.00000000
A-14 74434UXG4 7.05000 59,689,996.00 58,861,173.83 0.98611455
A-15 74434UXH2 7.40000 60,962,267.00 60,167,481.42 0.98696266
A-16 74434UXJ8 6.85000 9,993,028.00 9,798,892.88 0.98057294
A-17 74434UXK5 8.00000 1,000,000.00 1,000,000.00 1.00000000
A-18 74434UXL3 6.65000 4,996,514.00 4,899,446.44 0.98057294
A-19 74434UXM1 7.45000 9,993,028.00 9,798,892.88 0.98057294
A-20 74434UXN9 7.13500 22,251,865.00 22,251,865.00 1.00000000
A-R 74434UXP4 7.25000 100.00 0.00 0.00000000
AP 74434UXQ2 0.00000 377,400.60 376,983.10 0.99889375
B-1 74434UYH1 7.25000 10,639,000.00 10,631,785.10 0.99932184
B-2 74434UYJ7 7.25000 4,255,000.00 4,252,114.45 0.99932184
B-3 74434UYK4 7.25000 3,192,000.00 3,189,835.33 0.99932185
B-4 74434UYL2 7.25000 4,468,000.00 4,464,970.00 0.99932184
B-5 74434UYM0 7.25000 1,915,000.00 1,913,701.33 0.99932184
B-6 74434UYN8 7.25000 2,128,275.14 2,126,831.84 0.99932185
</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 8,467.45 130,290.19 0.00 0.00 0.00 138,757.64
A-2 0.00 0.00 0.00 0.00 0.00 0.00
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 27,029.88 0.00 0.00 0.00 0.00 27,029.88
A-6 4,233.72 65,145.08 0.00 0.00 0.00 69,378.80
A-7 49,111.22 755,683.19 0.00 0.00 0.00 804,794.41
A-8 52,754.90 811,749.13 0.00 0.00 0.00 864,504.04
A-9 0.00 0.00 0.00 0.00 0.00 0.00
A-10 0.00 0.00 0.00 0.00 0.00 0.00
A-11 0.00 0.00 0.00 0.00 0.00 0.00
A-12 0.00 0.00 0.00 0.00 0.00 0.00
A-13 0.00 0.00 0.00 0.00 0.00 0.00
A-14 50,577.48 778,244.69 0.00 0.00 0.00 828,822.17
A-15 48,500.45 746,285.12 0.00 0.00 0.00 794,785.58
A-16 11,846.77 182,288.36 0.00 0.00 0.00 194,135.12
A-17 0.00 0.00 0.00 0.00 0.00 0.00
A-18 5,923.38 91,144.18 0.00 0.00 0.00 97,067.56
A-19 11,846.77 182,288.36 0.00 0.00 0.00 194,135.12
A-20 0.00 0.00 0.00 0.00 0.00 0.00
A-R 6.73 93.27 0.00 0.00 0.00 100.00
AP 303.91 113.60 0.00 0.00 0.00 417.50
B-1 7,214.90 0.00 0.00 0.00 0.00 7,214.90
B-2 2,885.55 0.00 0.00 0.00 0.00 2,885.55
B-3 2,164.67 0.00 0.00 0.00 0.00 2,164.67
B-4 3,030.00 0.00 0.00 0.00 0.00 3,030.00
B-5 1,298.67 0.00 0.00 0.00 0.00 1,298.67
B-6 617.41 0.00 0.00 0.00 825.90 617.41
<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 58,409.99 0.00 0.00 0.00 0.00
A-2 59,270.94 0.00 0.00 0.00 0.00
A-3 125,364.58 0.00 0.00 0.00 0.00
A-4 131,708.33 0.00 0.00 0.00 0.00
A-5 240,808.15 0.00 0.00 0.00 0.00
A-6 29,146.33 0.00 0.00 0.00 0.00
A-7 359,832.31 0.00 0.00 0.00 0.00
A-8 268,854.17 0.00 0.00 0.00 0.00
A-9 31,718.75 0.00 0.00 0.00 0.00
A-10 30,208.33 0.00 0.00 0.00 0.00
A-11 31,062.50 0.00 0.00 0.00 0.00
A-12 11,833.33 0.00 0.00 0.00 0.00
A-13 17,500.00 0.00 0.00 0.00 0.00
A-14 350,678.73 0.00 0.00 0.00 0.00
A-15 375,933.98 0.00 0.00 0.00 0.00
A-16 57,043.53 0.00 0.00 0.00 0.00
A-17 6,666.67 0.00 0.00 0.00 0.00
A-18 27,689.02 0.00 0.00 0.00 0.00
A-19 62,040.05 0.00 0.00 0.00 0.00
A-20 132,305.88 0.00 0.00 0.00 0.00
A-R 0.60 0.00 0.00 0.00 0.00
AP 0.00 0.00 0.00 0.00 0.00
B-1 64,277.29 0.00 0.00 0.00 0.00
B-2 25,707.29 0.00 0.00 0.00 0.00
B-3 19,285.00 0.00 0.00 0.00 0.00
B-4 26,994.17 0.00 0.00 0.00 0.00
B-5 11,569.79 0.00 0.00 0.00 0.00
B-6 12,858.33 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 9,529,102.36 0.00 58,409.99
A-2 0.00 9,810,363.00 0.00 59,270.94
A-3 0.00 20,750,000.00 0.00 125,364.58
A-4 0.00 21,800,000.00 0.00 131,708.33
A-5 0.00 39,830,870.12 0.00 240,808.15
A-6 0.00 4,927,134.20 0.00 29,146.33
A-7 0.00 57,154,771.59 0.00 359,832.31
A-8 0.00 43,635,495.96 0.00 268,854.17
A-9 0.00 5,250,000.00 0.00 31,718.75
A-10 0.00 5,000,000.00 0.00 30,208.33
A-11 0.00 5,325,000.00 0.00 31,062.50
A-12 0.00 1,775,000.00 0.00 11,833.33
A-13 0.00 3,000,000.00 0.00 17,500.00
A-14 0.00 58,861,173.83 0.00 350,678.73
A-15 0.00 60,167,481.42 0.00 375,933.98
A-16 0.00 9,798,892.88 0.00 57,043.53
A-17 0.00 1,000,000.00 0.00 6,666.67
A-18 0.00 4,899,446.44 0.00 27,689.02
A-19 0.00 9,798,892.88 0.00 62,040.05
A-20 0.00 22,251,865.00 0.00 132,305.88
A-R 0.00 0.00 0.00 0.60
AP 0.00 376,983.10 0.00 0.00
B-1 0.00 10,631,785.10 0.00 64,277.29
B-2 0.00 4,252,114.45 0.00 25,707.29
B-3 0.00 3,189,835.33 0.00 19,285.00
B-4 0.00 4,464,970.00 0.00 26,994.17
B-5 0.00 1,913,701.33 0.00 11,569.79
B-6 0.00 2,126,831.84 0.00 12,858.33
<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 5,891.84
Servicing Fee Support 5,891.84
Non-Supported Prepayment Interest Shortfall 0.00
Gross Servicing Fee 82,053.26
Supported Prepayment Interest Shortfall 5,891.84
Net Servicing Fee 76,161.42
</TABLE>
<TABLE>
<CAPTION>
SERVICER ADVANCES
<S> <C>
Beginning Balance 0.00
Current Period Advances By Servicer 271,413.99
Reimbursement of Advances 0.00
Ending Cumulative Advances 271,413.99
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY STATUS
Current Unpaid
Number of Number Of Principal
Days Loans Balance
<S> <C> <C>
30 Days 9 1,952,449.46
60 Days 0 0.00
90+ Days 0 0.00
Foreclosure 0 0.00
REO 0 0.00
Totals 9 1,952,449.46
</TABLE>
<TABLE>
<CAPTION>
ADDITIONAL DELINQUENCY STATUS INFORMATION
<S> <C>
Principal Balance of Contaminated Properties 0.00
Periodic Advance 892,961.76
Current Period Realized Loss - Includes Interest Shortfall 825.90
Cumulative Realized Losses - Includes Interest Shortfall 825.90
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed Fixed Ratio Strip
Weighted Average Gross Coupon 8.116125%
Weighted Average Pass-Through Rate 7.250000%
Weighted Average Maturity (Stepdown Calculation) 356 Months
Beginning Scheduled Collateral Loan Count 1,713
Number of Loans Paid in Full 12
Ending Scheduled Collateral Loan Count 1,701
Beginning Scheduled Collateral Balance 425,553,675.74
Ending Scheduled Collateral Balance 421,521,710.81
Ending Actual Collateral Balance at 29-Feb-1996 425,553,675.74
Monthly P&I Constant 2,940,700.52
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Loss Description Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 153,035.91 0.03596160% 153,035.91 0.03630558%
Fraud 8,511,073.51 2.00000000% 8,511,073.51 2.01913052%
Special Hazard 4,256,324.91 1.00018521% 4,256,324.91 1.00975224%
<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 26,597,275.14 6.25004004% 26,579,238.05 6.30554426%
B-1 15,958,275.14 3.75000289% 15,947,452.95 3.78330523%
B-2 11,703,275.14 2.75012902% 11,695,338.50 2.77455187%
B-3 8,511,275.14 2.00004738% 8,505,503.17 2.01780904%
B-4 4,043,275.14 0.95012107% 4,040,533.17 0.95855873%
B-5 2,128,275.14 0.50011908% 2,126,831.84 0.50456045%
B-6 0.00 0.00000000% 0.00 0.00000000%
<FN>
Please refer to the Prospectus Supplement For A Full Description Of Loss Exposure
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
The Prudential Home Mortgage Securities Company, Inc.
Mortgage Pass-Through Certificates
Statements to Certificateholders
Record Date: 29-Feb-1996
Distribution Date: 25-Mar-1996
PHMSC Series 1996-3
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 74434UXU3 6.75000 5,051,000.00 4,995,130.21 0.98893887
A-2 74434UXV1 6.75000 27,033,000.00 26,571,443.21 0.98292617
A-3 74434UXW9 6.75000 58,855,000.00 58,245,805.82 0.98964924
A-4 74434UXX7 6.75000 10,915,000.00 10,915,000.00 1.00000000
A-5 74434UXY5 6.75000 18,000,000.00 17,943,789.16 0.99687718
A-R 74434UYD0 6.75000 100.00 0.00 0.00000000
AP 74434UXZ2 0.00000 647,572.74 643,241.32 0.99331130
M 74434UYA6 6.75000 1,249,000.00 1,245,099.59 0.99687717
B-1 74434UYB4 6.75000 1,249,000.00 1,245,099.59 0.99687717
B-2 74434UYC2 6.75000 624,000.00 622,051.36 0.99687718
B-3 74434UYE8 6.75000 562,000.00 560,244.97 0.99687717
B-4 74434UYF5 6.75000 312,000.00 311,025.68 0.99687718
B-5 74434UYG3 6.75000 375,241.61 374,069.80 0.99687719
</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 17,677.38 38,192.41 0.00 0.00 0.00 55,869.79
A-2 146,038.03 315,518.76 0.00 0.00 0.00 461,556.79
A-3 192,750.97 416,443.21 0.00 0.00 0.00 609,194.18
A-4 0.00 0.00 0.00 0.00 0.00 0.00
A-5 17,785.29 38,425.55 0.00 0.00 0.00 56,210.84
A-R 31.64 68.36 0.00 0.00 0.00 100.00
AP 2,213.23 2,118.19 0.00 0.00 0.00 4,331.42
M 3,900.41 0.00 0.00 0.00 0.00 3,900.41
B-1 3,900.41 0.00 0.00 0.00 0.00 3,900.41
B-2 1,948.64 0.00 0.00 0.00 0.00 1,948.64
B-3 1,755.03 0.00 0.00 0.00 0.00 1,755.03
B-4 974.32 0.00 0.00 0.00 0.00 974.32
B-5 0.00 0.00 0.00 0.00 1,171.81 0.00
<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 28,411.88 0.00 0.00 0.00 0.00
A-2 152,060.62 0.00 0.00 0.00 0.00
A-3 331,059.38 0.00 0.00 0.00 0.00
A-4 61,396.88 0.00 0.00 0.00 0.00
A-5 101,250.00 0.00 0.00 0.00 0.00
A-R 0.56 0.00 0.00 0.00 0.00
AP 0.00 0.00 0.00 0.00 0.00
M 7,025.62 0.00 0.00 0.00 0.00
B-1 7,025.62 0.00 0.00 0.00 0.00
B-2 3,510.00 0.00 0.00 0.00 0.00
B-3 3,161.25 0.00 0.00 0.00 0.00
B-4 1,755.00 0.00 0.00 0.00 0.00
B-5 2,110.73 0.00 0.00 922.42 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 4,995,130.21 0.00 28,411.88
A-2 0.00 26,571,443.21 0.00 152,060.62
A-3 0.00 58,245,805.82 0.00 331,059.38
A-4 0.00 10,915,000.00 0.00 61,396.87
A-5 0.00 17,943,789.16 0.00 101,250.00
A-R 0.00 0.00 0.00 0.56
AP 0.00 643,241.32 0.00 0.00
M 0.00 1,245,099.59 0.00 7,025.62
B-1 0.00 1,245,099.59 0.00 7,025.62
B-2 0.00 622,051.36 0.00 3,510.00
B-3 0.00 560,244.97 0.00 3,161.25
B-4 0.00 311,025.68 0.00 1,755.00
B-5 922.42 374,069.80 0.00 1,188.31
<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 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment Interest Shortfall 0.00
Gross Servicing Fee 23,220.66
Supported Prepayment Interest Shortfall 0.00
Net Servicing Fee 23,220.66
</TABLE>
<TABLE>
<CAPTION>
SERVICER ADVANCES
<S> <C>
Beginning Balance 0.00
Current Period Advances By Servicer 109,472.18
Reimbursement of Advances 0.00
Ending Cumulative Advances 109,472.18
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY STATUS
Current Unpaid
Number of Number Of Principal
Days Loans Balance
<S> <C> <C>
30 Days 2 447,500.00
60 Days 0 0.00
90+ Days 0 0.00
Foreclosure 0 0.00
REO 0 0.00
Totals 2 447,500.00
</TABLE>
<TABLE>
<CAPTION>
ADDITIONAL DELINQUENCY STATUS INFORMATION
<S> <C>
Principal Balance of Contaminated Properties 0.00
Periodic Advance 189,683.40
Current Period Realized Loss - Includes Interest Shortfall 1,171.81
Cumulative Realized Losses - Includes Interest Shortfall 1,171.81
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed 15 Year Ratio Strip
Weighted Average Gross Coupon 7.432138%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity (Stepdown Calculation) 177 Months
Beginning Scheduled Collateral Loan Count 465
Number of Loans Paid in Full 1
Ending Scheduled Collateral Loan Count 464
Beginning Scheduled Collateral Balance 124,872,914.35
Ending Scheduled Collateral Balance 123,672,000.71
Ending Actual Collateral Balance at 29-Feb-1996 124,872,914.35
Monthly P&I Constant 1,110,928.75
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Loss Description Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 100,000.00 0.08008142% 100,000.00 0.08085905%
Fraud 2,497,707.01 2.00019918% 2,497,707.01 2.01962206%
Special Hazard 1,987,480.00 1.59160216% 1,987,480.00 1.60705737%
<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 4,371,241.61 3.50055225% 4,357,590.99 3.52350651%
M 3,122,241.61 2.50033534% 3,112,491.40 2.51673085%
B-1 1,873,241.61 1.50011844% 1,867,391.81 1.50995520%
B-2 1,249,241.61 1.00041039% 1,245,340.45 1.00697041%
B-3 687,241.61 0.55035282% 685,095.48 0.55396167%
B-4 375,241.61 0.30049880% 374,069.80 0.30246927%
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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