<PAGE>
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 (Date of earliest event reported) August 25, 1995
LEHMAN ABS CORPORATION (as depositor under the Pooling and Servicing
Agreement dated as of July 1, 1995, providing for the issuance of
the Lehman FHA Title I Loan Trust 1995-4, FHA Title I Loan Asset
Backed Certificates, Series 1995-4)
LEHMAN ABS CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 33-90642 13-3447441
(STATE OR OTHER JURISDICTION (COMMISSION (I.R.S. EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
Three World Financial Center
200 Vesey Street
New York, New York 10285
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP
CODE)
Registrant's telephone number, including area code: (212) 298-2000
1
<PAGE>
ITEM 5. OTHER EVENTS
Attached hereto are copies of the monthly Certificateholder Reports
to the Certificateholders which were derived from the monthly information
submitted by the Master Servicer of the Trust to the Trustee.
ITEM 7. FINANCIAL STATEMENT AND EXHIBITS.
Exhibits
Exhibit 1: Certificateholder Report to the Certificateholders, dated
August 25, 1995.
Exhibit 2: Certificateholder Report to the Certificateholders, dated
September 25, 1995 and Revised Certificateholder Report, revised as of
10/19/95.
Exhibit 3: Certificateholder Report to the Certificateholders, dated
October 25, 1995 and Revised Certificateholder Report, revised as of
11/20/95.
Exhibit 4: Certificateholder Report to the Certificateholders, dated
November 25, 1995.
Exhibit 5: Certificateholder Report to the Certificateholders, dated
December 25, 1995.
Exhibit 6: Certificateholder Report to the Certificateholders, dated
January 25, 1996.
2
<PAGE>
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.
First Bank National Association, not in its
individual capacity but solely as Trustee.
By: /s/ CHRISTINA HATFIELD
--------------------------------------------
CHRISTINA HATFIELD
ASSISTANT VICE PRESIDENT
Date: February 23, 1996
3
<PAGE>
EXHIBIT INDEX
Sequential
Document Page Number
Exhibit 1: Certificateholder Report to the
Certificateholders, dated August 25, 1995. 5
Exhibit 2: Certificateholder Report to the
Certificateholders, dated September 25, 1995 and Revised
Certificateholder Report, revised as of 10/19/95. 10
Exhibit 3: Certificateholder Report to the
Certificateholders, dated October 25, 1995 and Revised
Certificateholder Report, revised as of 11/20/95. 16
Exhibit 4: Certificateholder Report to the
Certificateholders, dated November 25, 1995. 22
Exhibit 5: Certificateholder Report to the
Certificateholders, dated December 25, 1995. 27
Exhibit 6: Certificateholder Report to the
Certificateholders, dated January 25, 1996. 32
4
<PAGE>
Exhibit 1
<TABLE>
<CAPTION>
FHA TITLE I LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-4
REVISED CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 8/25/95
FACTORS (Per $1,000 Of Original Certificate Balance)
Ending
Original Interest Principal Certificate
CUSIP Certificate Distribution Distribution Balance
Number Balance Factor Factor Factor
<S> <C> <C> <C> <C> <C>
Class S ____ 72,227,947.22/(a)/ 0.41041662 0.00000000 994.78029967
Class A 525177AA9 109,983,388.00 5.74999999 3.42786531 996.57213469
</TABLE>
<TABLE>
<CAPTION>
INTEREST Monthly Current
Interest Interest On Interest Interest Interest
Certificate Carryover Carryover Distributable Interest Distribution Carryover
Rate Shortfall Shortfall Amount Distribution Payment Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 0.49250% 0.00 0.00 29,643.55 29,643.55 29,643.55 0.00
Class A 6.90000% 0.00 0.00 632,404.48 632,404.48 632,404.48 0.00
Total 0.00 0.00 662,048.03 662,048.03 662,048.03 0.00
</TABLE>
<TABLE>
<CAPTION>
PRINCIPAL Outstanding Monthly Current
Beginning Principal Principal Principal Ending Principal
Certificate Carryover Distributable Principal Distribution Certificate Carryover
Balance Shortfall Amount Distribution Payment Balance Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 72,227,947.22/(a)/ ____ ____ ____ ____ 71,850,938.98/(a)/ ____
Class A 109,983,388.00 0.00 377,008.24 377,008.24 377,008.24 109,606,379.76 0.00
Total 109,983,388.00 0.00 377,008.24 377,008.24 377,008.24 109,606,379.76 0.00
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 1,654.18 Defaulted Loans During The Related Due
Master Servicer Fee 12,035.19 Period 0.00
Master Servicer Reimbursement 0.00 Principal Balance Of All Defaulted
Trustee Fee 2,338.08 Mortgage Loans 0.00
Priority Expenses 0.00 Cram Down Losses 0.00
Class Interest Distribution 662,048.03 Excess Interest Paid As Principal 0.00
Amounts Owing to Certificate Insurer 17,047.43 Required OC Amount 2.00%
Class A Principal Distribution 377,008.24 Overcollateralization Prior to
Class A Guaranteed Principal Allocation of
Distribution Amount 0.00 Distributable Excess Spread 2,244,559.22
Successor Master Servicer Fee 0.00 Actual Overcollateralization 2,244,559.22
Other Fee 0.00 Required Overcollateralization 2,244,558.94
Class R Distribution 281,934.94 Beginning Collateral Balance 72,227,947.22
Ending Collateral Balance 71,850,938.98
Total Distribution Amount 1,354,066.09
/(a)/ The Class S Notional Amount is equal to the Aggregate Principal Balance of the Loans.
</TABLE>
5
<PAGE>
REVISED
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-4
*****************************************************************************
In accordance with Section 4.01 (c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of July 1, 1995 among
Lehman ABS Corporation, as Depositor, the First National Bank of Keystone,
Lomas Mortgage USA, Inc., as Master Servicer and Claims Administrator, and
First Bank National Association as Trustee and as Contract of Insurance
Holder, the following data for the August 21, 1995 Distribution Date is
being presented to the Trustee for use in making distributions, transfers,
deposits, withdrawals and overcollateralization calculations pursuant to
the Agreement. Capitalized terms used in the Certificate are used as
defined in the Agreement.
DUE PERIOD: July 1, 1995 - July 31, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)):
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: July 20, 1995 $ 72,203,139.15
---------------------
Less: Total Amount of
Defaulted Mortgage Loan: July 31, 1995 $ 0.00
---------------------
Adjusted Beginning Aggregate
Principal Balance: $ 72,203,139.15
---------------------
Interest due on Mortgage Loans during
the preceding Due Period: $ 753,448.20
---------------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 717,692.74
---------------------
Principal:
Regular Installments $ 105,229.90
---------------------
Curtailments $ 48,416.09
---------------------
Full Prepayments $ 223,362.25
---------------------
Foreclosures (Claim Funds Received)/Other:
See explanation $ 0.00
---------------------
Total Principal Collections: $ 377,008.24
---------------------
Defective Mortgage Loans Purchased by Keystone
as of the July 31, 1995 Monthly Cutoff
(2.04(c) and 3.12(b)):
(i) 100% of the Principal Balance of
such Defective Loans: $ 0.00
---------------------
(ii) Unpaid accrued interest for such
Defective Mortgages: $ 0.00
---------------------
6
<PAGE>
Mortgage Loans Purchased by Master Servicer as of
the July 31, 1995 Monthly Cutoff (3.12(b)):
(i) 100% of the Principal Balance of
Mortgage Loans with Rejected Claims: $ 0.00
---------------------
(ii) Unpaid accrued interest for such Mortgage
Loans with Rejected Claims: $ 0.00
---------------------
Amounts received from Keystone upon
optional termination (9.01(d)):
(i) 100% of Aggregate Principal Balance
for Mortgage Loan: $ 0.00
---------------------
(ii) Unpaid accrued interest: $ 0.00
---------------------
(iii) Fair Market Value of Pending FHA Claims
as determined by Independent Appraiser: $ 0.00
---------------------
(iv) Fair Market Value of Foreclosed
Properties as determined by Independent
Appraiser: $ 0.00
---------------------
TOTAL DISTRIBUTION AMOUNT: $ 1,130,456.44
=====================
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance -
Beginning Due Period $ 0.00
---------------------
FHA Claims Paid $ 0.00
---------------------
FHA Insurance Reductions/Additions $ 0.00
---------------------
FHA Insurance Coverage Balance -
End of Due Period $ 0.00
---------------------
FHA Claims Filed $ 0.00
---------------------
FHA Claim Funds Available from Other Transactions $ 0.00
---------------------
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Twelve Month
Based on 1 Month. 0.00%
---------------------
Cumulative Default Percentage 0.00%
---------------------
30 Day + Delinquency Percentage 0.68%
---------------------
60 Day + Delinquency Percentage 0.00%
---------------------
7
<PAGE>
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 0.00
---------------------
Recoveries on Defaulted Loans
during the prior Due Period (Current): $ 0.00
---------------------
Amounts, if any, received with respect
to a Mortgage Loan or any related
Foreclosed Property subsequent to the
date of repurchase of such Mortgage Loan
or Foreclosed Property
from the Trust (Cumulative): $ 0.00
---------------------
The aggregate amount, if any, of any
Cram Down Losses that shall have occurred
during the preceding Due Period: $ 0.00
---------------------
Remaining defaulted loan balance reflecting all
collections received (losses): $ 0.00
---------------------
Total loans to be foreclosed
(see attached): # 0 $ 0.00
---------------------
OTHER:
FHA Premium Account Deposit (4.05.a.1): $ 1,654.18
---------------------
FHA Premiums Collected on Invoiced Loans: $ 28,090.89
---------------------
FHA Premiums and Other Charges Due: $ 1,654.18
---------------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 5,811.06
---------------------
Master Servicer Fee (4.05.a.ii): $ 12,035.19
---------------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 43,165.07
---------------------
Foreclosure Advances: $ 0.00
---------------------
Cumulative Advances made by Master Servicer:
Interest Advances: $ 43,078.73
---------------------
Foreclosure Advances: $ 0.00
---------------------
8
<PAGE>
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 0.00
---------------------
Foreclosure Advances: $ 0.00
---------------------
Unpaid Principal Balance -
Current Loans July 31, 1995 $ 71,335,593.06
---------------------
Certificate Provided By: /s/ Kelly Stricklan Date: 8/24/95
------------------- -------
Revised
9
<PAGE>
Exhibit 2
<TABLE>
<CAPTION>
FHA TITLE I LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-4
REVISED CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 9/25/95
REVISED AS OF 10/19/95
FACTORS (Per $1,000 Of Original Certificate Balance)
Ending
Original Interest Principal Certificate
CUSIP Certificate Distribution Distribution Balance
Number Balance Factor Factor Factor
<S> <C> <C> <C> <C> <C>
Class S ____ 72,227,947.22/(a)/ 0.40827437 0.00000000 1,543.51612860
Class A 525177AE1 109,983,388.00 5.73028974 3.32784675 993.24428795
</TABLE>
<TABLE>
<CAPTION>
INTEREST Monthly Current
Interest Interest On Interest Interest Interest
Certificate Carryover Carryover Distributable Interest Distribution Carryover
Rate Shortfall Shortfall Amount Distribution Payment Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 0.49250% 0.00 0.00 29,488.82 29,488.82 29,488.82 0.00
Class A 6.90000% 0.00 0.00 630,236.68 630,236.68 630,236.68 0.00
Total 0.00 0.00 659,725.50 659,725.50 659,725.50 0.00
</TABLE>
<TABLE>
<CAPTION>
PRINCIPAL
Outstanding Monthly Current
Beginning Principal Principal Principal Ending Principal
Certificate Carryover Distributable Principal Distribution Certificate Carryover
Class Balance Shortfall Amount Distribution Payment Balance Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 71,850,938.98/(a)/ ____ ____ ____ ____ 111,485,001.47/(a)/ ____
Class A 109,606,379.76 0.00 366,007.86 366,007.86 366,007.86 109,240,371.90 0.00
Total 109,606,379.76 0.00 366,007.86 366,007.86 366,007.86 109,240,371.90 0.00
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 14,202.40 Defaulted Loans During The Related Due
Master Servicer Fee 11,974.45 Period 0.00
Master Servicer Reimbursement 0.00 Principal Balance Of All Defaulted
Trustee Fee 2,330.23 Mortgage Loans 0.00
Priority Expenses 0.00 Cram Down Losses 0.00
Class Interest Distribution 659,725.50 Excess Interest Paid As Principal 0.00
Amounts Owing to Certificate Insurer 16,988.99 Required OC Amount 2.00%
Class A Principal Distribution 366,007.86 Overcollateralization Prior to
Class A Guaranteed Principal Allocation of
Distribution Amount 0.00 Distributable Excess Spread 2,244,629.57
Successor Master Servicer Fee 0.00 Actual Overcollateralization 2,244,629.57
Other Fee 0.00 Required Overcollateralization 2,244,558.94
Class R Distribution 271,934.03 Beginning Collateral Balance 71,850,938.98
Ending Collateral Balance 111,485,001.47
Total Distribution Amount 1,343,163.46
/(a)/ The Class S Notional Amount is equal to the Aggregate Principal Balance of the Loans.
</TABLE>
10
<PAGE>
EXHIBIT 2
<TABLE>
<CAPTION>
FHA TITLE I LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-4
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 9/25/95
FACTORS (Per $1,000 Of Original Certificate Balance)
Ending
Original Interest Principal Certificate
CUSIP Certificate Distribution Distribution Balance
Number Balance Factor Factor Factor
<S> <C> <C> <C> <C> <C>
Class S ____ 72,203,139.15/(a)/ 0.40827366 0.00000000 1,544.33801428
Class A 525177AA9 109,983,388.00 5.72901873 3.32784675 993.02323975
</TABLE>
<TABLE>
<CAPTION>
INTEREST
Monthly Current
Interest Interest On Interest Interest Interest
Certificate Carryover Carryover Distributable Interest Distribution Carryover
Rate Shortfall Shortfall Amount Distribution Payment Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 0.49250% 0.00 0.00 29,478.64 29,478.64 29,478.64 0.00
Class A 6.90000% 0.00 0.00 630,096.89 630,096.89 630,096.89 0.00
Total 0.00 0.00 659,575.53 659,575.53 659,575.53 0.00
</TABLE>
<TABLE>
<CAPTION>
PRINCIPAL
Outstanding Monthly Current
Beginning Principal Principal Principal Ending Principal
Certificate Carryover Distributable Principal Distribution Certificate Carryover
Balance Shortfall Amount Distribution Payment Balance Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 71,826,130.91/(a)/ ____ ____ ____ ____ 111,506,052.54/(a)/ ____
Class A 109,582,068.13 0.00 366,007.86 366,007.86 366,007.86 109,216,060.27 0.00
____
Total 109,582,068.13 0.00 366,007.86 366,007.86 366,007.86 109,216,060.27 0.00
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 14,202.40 Defaulted Loans During The Related Due Period 0.00
Master Servicer Fee 11,974.45 Principal Balance Of All Defaulted Mortgage Loans 0.00
Master Servicer Reimbursement 0.00 Cram Down Losses 0.00
Trustee Fee 2,329.71 Excess Interest Paid As Principal 0.00
Priority Expenses 0.00 Required OC Amount 2.00%
Class Interest Distribution 659,575.53 Overcollateralization Prior to Allocation of
Amounts Owing to Certificate Insurer 17,535.14 Distributable Excess Spread 2,289,992.27
Class A Principal Distribution 366,007.86 Actual Overcollateralization 2,289,992.27
Class A Guaranteed Principal Distribution Amount 0.00 Required Overcollateralization 2,244,062.78
Successor Master Servicer Fee 0.00 Beginning Collateral Balance 71,826,130.91
Other Fee 0.00 Ending Collateral Balance 111,506,052.54
Class R Distribution 271,541.31
Total Distribution Amount 1,343,166.40
/(a)/ The Class S Notional Amount is equal to the Aggregate Principal Balance of the Loans.
</TABLE>
11
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-4
**************************************************************************
In accordance with Section 4.01 (c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of July 1, 1995 among
Lehman ABS Corporation, as Depositor, the First National Bank of Keystone,
Lomas Mortgage USA, Inc., as Master Servicer and Claims Administrator, and
First Bank National Association as Trustee and as Contract of Insurance
Holder, the following data for the September 20, 1995 Distribution Date is
being presented to the Trustee, for use in making distributions,
transfers, deposits, withdrawals and overcollateralization calculations
pursuant to the Agreement. Capitalized terms used in the Certificate are
used as defined in the Agreement.
DUE PERIOD: August 1, 1995 - August 31, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b))-
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: August 21, 1995 $ 71,850,938.98
---------------------
Less: Total Amount of Defaulted
Mortgage Loan: August 31, 1995 $ 0.00
---------------------
Adjusted Beginning Aggregate
Principal Balance: $ 71,850,938.98
---------------------
Interest due on Mortgage Loans during
the preceding Due Period: $ 749,703.50
---------------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 712,825.65
---------------------
Principal:
Regular Installments $ 104,713.82
---------------------
Curtailments $ 35,849.41
---------------------
Full Prepayments $ 225,444.63
---------------------
Foreclosures (Claim Funds Received)/
Other: See explanation $ 0.00
---------------------
Total Principal Collections: $ 366,007.86
---------------------
Defective Mortgage Loans Purchased by Keystone
as of the August 31, 1995 Monthly Cutoff
(2.04(c) and 3.12(b)):
(i) 100% of the Principal Balance of
such Defective Loans: $ 0.00
---------------------
(ii) Unpaid accrued interest for such
Defective Mortgages: $ 0.00
---------------------
12
<PAGE>
Mortgage Loans Purchased by Master Servicer as of
the August 31, 1995 Monthly Cutoff (3.12(b)):
(i) 100% of the Principal Balance of
Mortgage Loans with Rejected Claims: $ 0.00
--------------------
(ii) Unpaid accrued interest for such Mortgage
Loans with Rejected Claims: $ 0.00
--------------------
Amounts received from Keystone upon
optional termination (9.01(d):
(i) 100% of the Aggregate Principal Balance
for Mortgage Loan: $ 0.00
--------------------
(ii) Unpaid Accrued Interest: $ 0.00
--------------------
(iii) Fair Market Value of Pending FHA Claims
as determined by Independent Appraiser: $ 0.00
--------------------
(iv) Fair Market Value of Foreclosed
Properties as determined by Independent
Appraiser: $ 0.00
--------------------
TOTAL DISTRIBUTION AMOUNT: $ 1,115,711.36
====================
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance -
Beginning Due Period $ 0.00
---------------------
FHA Claims Paid $ 0.00
---------------------
FHA Insurance Reductions/Additions $ 1,015,629.91
---------------------
FHA Insurance Coverage Balance -
End of Due Period $ 1,015,629.91
---------------------
FHA Claims Filed $ 0.00
---------------------
FHA Claim Funds Available from
Other Transactions $ 3,313,128.27
---------------------
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Twelve Month
Based on 2 Months. 0.00%
---------------------
Cumulative Default Percentage 0.00%
---------------------
30 Day + Delinquency Percentage 1.32%
---------------------
60 Day + Delinquency Percentage 0.21%
---------------------
13
<PAGE>
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 0.00
---------------------
Recoveries on Defaulted Loans
during the prior Due Period (Current): $ 0.00
---------------------
Amounts, if any, received with respect
to a Mortgage Loan or any related
Foreclosed Property subsequent to the
date of repurchase of such Mortgage Loan
or Foreclosed Property from
the Trust (Cumulative): $ 0.00
---------------------
The aggregate amount, if any, of any
Cram Down Losses that shall have occurred
during the preceding Due Period: $ 0.00
---------------------
Remaining defaulted loan balance reflecting all
collections received (losses): $ 0.00
---------------------
Total loans to be foreclosed
(see attached): $ 0.00
---------------------
OTHER:
FHA Premium Account Deposit (4.05.a.1): $ 14,202.40
---------------------
FHA Premiums Collected on Invoiced Loans: $ 27,122.49
---------------------
FHA Premiums and Other Charges Due: $ 4,125.03
---------------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 6,772.89
---------------------
Master Servicer Fee (4.05.a.ii): $ 11,974.45
---------------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 40,842.91
---------------------
Foreclosure Advances: $ 0.00
---------------------
Cumulative Advances made by Master Servicer:
Interest Advances: $ 80,092.54
---------------------
Foreclosure Advances: $ 0.00
---------------------
14
<PAGE>
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 0.00
---------------------
Foreclosure Advances: $ 0.00
---------------------
Unpaid Principal Balance -
Current Loans August 31, 1995 $ 70,538,920.35
---------------------
Certificate Provided By: /s/ Kelly Stricklan Date: 9/18/95
---------------------- -------
15
<PAGE>
Exhibit 3
<TABLE>
<CAPTION>
FHA TITLE I LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-4
REVISED CERTIFICATEHOLDER REPORT AS OF 11/20/95
DISTRIBUTION DATE: 10/25/95
FACTORS (Per $1,000 Of Original Certificate Balance)
Ending
Original Interest Principal Certificate
CUSIP Certificate Distribution Distribution Balance
Number Balance Factor Factor Factor
<S> <C> <C> <C> <C> <C>
Class S ____ 72,227,947.22/(a)/ 0.63348471 0.00000000 1,533.86412648
Class A 525177AE1 109,983,388.00 5.71115467 6.33863270 986.90565524
</TABLE>
<TABLE>
<CAPTION>
INTEREST Monthly Current
Interest Interest On Interest Interest Interest
Certificate Carryover Carryover Distributable Interest Distribution Carryover
Class Rate Shortfall Shortfall Amount Distribution Payment Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 0.49250% 0.00 0.00 45,755.30 45,755.30 45,755.30 0.00
Class A 6.90000% 0.00 0.00 628,132.14 628,132.14 628,132.14 0.00
Total 0.00 0.00 673,887.44 673,887.44 673,887.44 0.00
</TABLE>
<TABLE>
<CAPTION>
PRINCIPAL
Outstanding Monthly Current
Beginning Principal Principal Principal Ending Principal
Certificate Carryover Distributable Principal Distribution Certificate Carryover
Class Balance Shortfall Amount Distribution Payment Balance Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 111,485,001.47/(a)/ ____ ____ ____ ____ 110,787,857.17/(a)/ ____
Class A 109,240,371.90 0.00 697,144.30 697,144.30 697,144.30 108,543,227.60 0.00
Total 109,240,371.90 0.00 697,144.30 697,144.30 697,144.30 108,543,227.60 0.00
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 17,732.63 Defaulted Loans During The Related Due Period 0.00
Master Servicer Fee 18,582.34 Principal Balance Of All Defaulted Mortgage Loans 0.00
Master Servicer Reimbursement 0.00 Cram Down Losses 0.00
Trustee Fee 2,322.60 Excess Interest Paid As Principal 0.00
Priority Expenses 0.00 Required OC Amount 2.00%
Class Interest Distribution 673,887.44 Overcollateralization Prior to Allocation of
Amounts Owing to Certificate Insurer 16,386.06 Distributable Excess Spread 2,244,629.57
Class A Principal Distribution 697,144.30 Actual Overcollateralization 2,244,629.57
Class A Guaranteed Principal Distribution Amount 0.00 Required Overcollateralization 2,244,558.94
Successor Master Servicer Fee 0.00 Beginning Collateral Balance 111,485,001.47
Other Fee 0.00 Ending Collateral Balance 110,787,857.17
Class R Distribution 554,937.30
Total Distribution Amount 1,980,992.67
/(a)/ The Class S Notional Amount is equal to the Aggregate Principal Balance of the Loans.
</TABLE>
16
<PAGE>
Exhibit 3
<TABLE>
<CAPTION>
FHA TITLE I LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-4
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 10/25/95
FACTORS (Per $1,000 Of Original Certificate Balance)
Ending
Original Interest Principal Certificate
CUSIP Certificate Distribution Distribution Balance
Number Balance Factor Factor Factor
<S> <C> <C> <C> <C> <C>
Class S ____ 72,227,947.22/(a)/ 0.63348471 0.00000000 1,533.86412648
Class A 525177AE1 109,983,388.00 5.71115467 6.33863270 986.90565524
</TABLE>
<TABLE>
<CAPTION>
INTEREST Monthly Current
Interest Interest On Interest Interest Interest
Certificate Carryover Carryover Distributable Interest Distribution Carryover
Rate Shortfall Shortfall Amount Distribution Payment Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 0.49250% 0.00 0.00 45,755.30 45,755.30 45,755.30 0.00
Class A 6.90000% 0.00 0.00 628,132.14 628,132.14 628,132.14 0.00
Total 0.00 0.00 673,887.44 673,887.44 673,887.44 0.00
</TABLE>
<TABLE>
<CAPTION>
PRINCIPAL
Outstanding Monthly Current
Beginning Principal Principal Principal Ending Principal
Certificate Carryover Distributable Principal Distribution Certificate Carryover
Balance Shortfall Amount Distribution Payment Balance Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 111,485,001.47/(a)/ ____ ____ ____ ____ 110,787,857.17/(a)/ ____
Class A 109,240,371.90 0.00 697,144.30 697,144.30 697,144.30 108,543,227.60 0.00
Total 109,240,371.90 0.00 697,144.30 697,144.30 697,144.30 108,543,227.60 0.00
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 17,732.63 Defaulted Loans During The Related Due Period 0.00
Master Servicer Fee 18,582.34 Principal Balance Of All Defaulted
Master Servicer Reimbursement 0.00 Mortgage Loans 0.00
Trustee Fee 2,322.60 Cram Down Losses 0.00
Priority Expenses 0.00 Excess Interest Paid As Principal 0.00
Class Interest Distribution 673,887.44 Required OC Amount 2.00%
Amounts Owing to Certificate Insurer 16,386.06 Overcollateralization Prior to Allocation of
Class A Principal Distribution 697,144.30 Distributable Excess Spread 2,244,629.57
Class A Guaranteed Principal Distribution Amount 0.00 Actual Overcollateralization 2,244,629.57
Successor Master Servicer Fee 0.00 Required Overcollateralization 2,244,558.94
Other Fee 0.00 Beginning Collateral Balance 111,485,001.47
Class R Distribution 553,712.53 Ending Collateral Balance 110,787,857.17
Total Distribution Amount 1,979,767.90
/(a)/ The Class S Notional Amount is equal to the Aggregate Principal Balance of the Loans.
</TABLE>
17
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-4
*************************************************************************
In accordance with Section 4.01 (c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of July 1, 1995 among
Lehman ABS Corporation, as Depositor, the First National Bank of Keystone,
Lomas Mortgage USA, Inc., as Master Servicer and Claims Administrator, and
First Bank National Association as Trustee and as Contract of Insurance
Holder, the following data for the October 20, 1995 Distribution Date is
being presented to the Trustee, for use in making distributions, transfers,
deposits, withdrawals and overcollateralization calculations pursuant to
the Agreement. Capitalized terms used in the Certificate are used as
defined in the Agreement.
DUE PERIOD: September 1, 1995 - September 30, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b))-
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: September 20, 1995 $ 111,485,001.47
---------------------
Less: Total Amount of Defaulted
Mortgage Loan: September 30, 1995 $ 0.00
---------------------
Adjusted Beginning Aggregate
Principal Balance: $ 111,485,001.47
---------------------
Interest due on Mortgage Loans during
the preceding Due Period: $ 1,169,873.83
---------------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 1,102,706.34
---------------------
Principal:
Regular Installments $ 158,704.50
---------------------
Curtailments $ 54,147.33
---------------------
Full Prepayments $ 484,292.47
---------------------
Foreclosures (Claim Funds Received)/
Other: See explanation $ 0.00
---------------------
Total Principal Collections: $ 697,144.30
---------------------
Defective Mortgage Loans Purchased by Keystone
as of the September 30, 1995 Monthly Cutoff
(2.04(c) and 3.12(b)):
(i) 100% of the Principal Balance of
such Defective Loans: $ 0.00
---------------------
(ii) Unpaid accrued interest for such
Defective Mortgages: $ 0.00
---------------------
18
<PAGE>
Mortgage Loans Purchased by Master Servicer as of
the September 30, 1995 Monthly Cutoff (3.12(b)):
(i) 100% of the Principal Balance of
Mortgage Loans with Rejected Claims: $ 0.00
---------------------
(ii) Unpaid accrued interest for such Mortgage
Loans with Rejected Claims: $ 0.00
---------------------
Amounts received from Keystone upon
optional termination (9.01(d)):
(i) 100% of Aggregate Principal Balance
for Mortgage Loan: $ 0.00
---------------------
(ii) Unpaid Accrued Interest: $ 0.00
---------------------
(iii) Fair Market Value of Pending FHA Claims
as determined by Independent Appraiser: $ 0.00
---------------------
(iv) Fair Market Value of Foreclosed
Properties as determined by Independent
Appraiser: $ 0.00
---------------------
TOTAL DISTRIBUTION AMOUNT: $ 1,867,018.13
=====================
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance -
Beginning Due Period $ 1,015,629.91
---------------------
FHA Claims Paid $ 0.00
---------------------
FHA Insurance Reductions/Additions $ 239,747.11
---------------------
FHA Insurance Coverage Balance -
End of Due Period $ 1,255,377.02
---------------------
FHA Claims Filed $ 0.00
---------------------
FHA Claim Funds Available from Other Transactions $ 3,313,128.27
---------------------
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Twelve Month
Based on 3 Months. 0.00%
----------------------
Cumulative Default Percentage 0.00%
----------------------
30 Day + Delinquency Percentage 2.13%
----------------------
60 Day + Delinquency Percentage 0.64%
----------------------
19
<PAGE>
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 0.00
---------------------
Recoveries on Defaulted Loans during
the prior Due Period (Current): $ 0.00
---------------------
Amounts, if any, received with respect
to a Mortgage Loan or any related
Foreclosed Property subsequent to the
date of repurchase of such Mortgage Loan
or Foreclosed Property from
the Trust (Cumulative): $ 0.00
---------------------
The aggregate amount, if any, of any
Cram Down Losses that shall have occurred
during the preceding Due Period: $ 0.00
---------------------
Remaining defaulted loan balance reflecting all
collections received (losses): $ 0.00
---------------------
Total loans to be foreclosed
(see attached): # 0 $ 0.00
---------------------
OTHER:
FHA Premium Account Deposit (4.05.a.1): $ 17,732.63
---------------------
FHA Premiums Collected on Invoiced Loans: $ 42,112.77
---------------------
FHA Premiums and Other Charges Due: $ 2,936.30
---------------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 10,596.90
---------------------
Master Servicer Fee (4.05.a.ii): $ 18,582.34
---------------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 67,167.49
---------------------
Foreclosure Advances: $ 0.00
---------------------
Cumulative Advances made by Master Servicer:
Interest Advances: $ 140,088.64
---------------------
Foreclosure Advances: $ 0.00
---------------------
20
<PAGE>
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 0.00
---------------------
Foreclosure Advances: $ 0.00
---------------------
Unpaid Principal Balance -
Current Loans September 30, 1995 $ 108,422,748.01
---------------------
Certificate Provided By: _______________________________ Date:
--------
21
<PAGE>
Exhibit 4
<TABLE>
<CAPTION>
FHA TITLE I LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-4
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 11/25/95
FACTORS (Per $1,000 Of Original Certificate Balance)
Ending
Original Interest Principal Certificate
CUSIP Certificate Distribution Distribution Balance
Number Balance Factor Factor Factor
<S> <C> <C> <C> <C> <C>
Class S ____ 110,787,857.17/(a)/ 0.41041664 0.00000000 993.92657221
Class A 525177AE1 109,983,388.00 5.67470753 6.11785163 980.78780361
</TABLE>
<TABLE>
<CAPTION>
INTEREST
Monthly Current
Interest Interest On Interest Interest Interest
Certificate Carryover Carryover Distributable Interest Distribution Carryover
Rate Shortfall Shortfall Amount Distribution Payment Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 0.49250% 0.00 0.00 45,469.18 45,469.18 45,469.18 0.00
Class A 6.90000% 0.00 0.00 624,123.56 624,123.56 624,123.56** 0.00
Total 0.00 0.00 669,592.74 669,592.74 669,592.74 0.00
</TABLE>
<TABLE>
<CAPTION>
PRINCIPAL
Outstanding Monthly Current
Beginning Principal Principal Principal Ending Principal
Certificate Carryover Distributable Principal Distribution Certificate Carryover
Balance Shortfall Amount Distribution Payment Balance Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 110,787,857.17 ____ ____ ____ ____ 110,114,995.12 ____
Class A 108,543,227.60 0.00 672,862.05 672,862.05 672,862.05 107,870,365.55 0.00
Total 108,543,227.60 0.00 672,862.05 672,862.05 672,862.05 107,870,365.55 0.00
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 17,490.86 Defaulted Loans During The Related Due Period 0.00
Master Servicer Fee 18,464.50 Principal Balance Of All Defaulted Mortgage Loans 0.00
Master Servicer Reimbursement 0.00 Cram Down Losses 0.00
Trustee Fee 2,308.08 Excess Interest Paid As Principal 0.00
Priority Expenses 0.00 Required OC Amount 2.00%
Class Interest Distribution 669,592.74 Overcollateralization Prior to Allocation of
Amounts Owing to Certificate Insurer 16,824.20 Distributable Excess Spread 2,244,629.57
Class A Principal Distribution 672,862.05 Actual Overcollateralization 2,244,629.57
Class A Guaranteed Principal Distribution Amount 0.00 Required Overcollateralization 2,244,558.94
Successor Master Servicer Fee 0.00 Beginning Collateral Balance 110,787,857.17
Other Fee 0.00 Ending Collateral Balance 110,114,995.12
Class R Distribution 446,986.58
Total Distribution Amount 1,844,529.01
/(a)/ The Class S Notional Amount as of the /**/ An additional $139.79 will be added to this
Reference Date of September 30, 1995 payment. This represents a revision of the 9-25-
95 Certificateholder Report (copy to follow).
</TABLE>
22
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-4
**************************************************************************
In accordance with Section 4.01 (c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of July 1, 1995 among
Lehman ABS Corporation, as Depositor, the First National Bank of Keystone,
Lomas Mortgage USA, Inc., as Master Servicer and Claims Administrator, and
First Bank National Association as Trustee and as Contract of Insurance
Holder, the following data for the November 20, 1995 Distribution Date is
being presented to the Trustee, for use in making distributions, transfers,
deposits, withdrawals and overcollateralization calculations pursuant to
the Agreement. Capitalized terms used in the Certificate are used as
defined in the Agreement.
DUE PERIOD: October 1, 1995 - October 31, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)):
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: October 20, 1995 $ 110,787,857.17
---------------------
Less: Total Amount of Defaulted
Mortgage Loan: October 31, 1995 $ 0.00
---------------------
Adjusted Beginning
Aggregate Principal Balance: $ 110,787,857.17
---------------------
Interest due on Mortgage Loans during
the preceding Due Period: $ 1,162,608.59
---------------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 1,123,844.95
---------------------
Principal:
Regular Installments $ 163,697.14
---------------------
Curtailments $ 43,069.25
---------------------
Full Prepayments $ 466,095.66
---------------------
Foreclosures (Claim Funds Received)/
Other: See explanation $ 0.00
---------------------
Total Principal Collections: $ 672,862.05
---------------------
Defective Mortgage Loans Purchased by Keystone
as of the October 31, 1995 Monthly Cutoff
(2.04(c) and 3.12(b)):
(i) 100% of the Principal Balance of
such Defective Loans: $ 0.00
---------------------
(ii) Unpaid accrued interest for such
Defective Mortgages: $ 0.00
---------------------
23
<PAGE>
Mortgage Loans Purchased by Master Servicer as of
the October 31, 1995 Monthly Cutoff (3.12(b)):
(i) 100% of the Principal Balance of
Mortgage Loans with Rejected Claims: $ 0.00
---------------------
(ii) Unpaid accrued interest for such Mortgage
Loans with Rejected Claims: $ 0.00
---------------------
Amounts received from Keystone upon
optional termination (9.01(d)):
(i) 100% of the Aggregate Principal Balance
for Mortgage Loan: $ 0.00
---------------------
(ii) Unpaid Accrued Interest: $ 0.00
---------------------
(iii) Fair Market Value of Pending FHA Claims
as determined by Independent Appraiser: $ 0.00
---------------------
(iv) Fair Market Value of Foreclosed
Properties as determined by Independent
Appraiser: $ 0.00
---------------------
TOTAL DISTRIBUTION AMOUNT: $ 1,835,470.64
=====================
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance -
Beginning Due Period $ 1,255,377.02
---------------------
FHA Claims Paid $ 0.00
---------------------
FHA Insurance Reductions/Additions $ 3,478,871.82
---------------------
FHA Insurance Coverage Balance -
End of Due Period $ 4,734,248.84
---------------------
FHA Claims Filed $ 0.00
---------------------
FHA Claim Funds Available
from Other Transactions $ 3,313,128.27
---------------------
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Twelve Month
Based on 4 Months. 0.00%
----------------------
Cumulative Default Percentage 0.00%
----------------------
30 Day + Delinquency Percentage 2.52%
----------------------
60 Day + Delinquency Percentage 0.41%
----------------------
24
<PAGE>
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 0.00
---------------------
Recoveries on Defaulted Loans
during the prior Due Period (Current): $ 0.00
---------------------
Amounts, if any, received with respect
to a Mortgage Loan or any related
Foreclosed Property subsequent to the
date of repurchase of such Mortgage Loan
or Foreclosed Property from
the Trust (Cumulative): $ 0.00
---------------------
The aggregate amount, if any, of any
Cram Down Losses that shall have occurred
during the preceding Due Period: $ 0.00
---------------------
Remaining defaulted loan balance reflecting all
collections received (losses): $ 0.00
---------------------
Total loans to be foreclosed
(see attached): # 0 $ 0.00
---------------------
OTHER:
FHA Premium Account Deposit (4.05.a.1): $ 17,490.86
---------------------
FHA Premiums Collected on Invoiced Loans: $ 42,822.64
---------------------
FHA Premiums and Other Charges Due: $ 3,206.79
---------------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 11,629.14
---------------------
Master Servicer Fee (4.05.a.ii): $ 18,464.50
---------------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 46,101.66
---------------------
Foreclosure Advances: $ 0.00
---------------------
Cumulative Advances made by Master Servicer:
Interest Advances: $ 180,354.66
---------------------
Foreclosure Advances: $ 0.00
---------------------
25
<PAGE>
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 0.00
---------------------
Foreclosure Advances: $ 0.00
---------------------
Unpaid Principal Balance -
Current Loans October 31, 1995 $ 107,340,863.90
---------------------
Certificate Provided By: /s/ Kelly Stricklan Date: 11/17/95
-------------------- --------
26
<PAGE>
Exhibit 5
<TABLE>
<CAPTION>
FHA TITLE I LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-4
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 12/25/95
FACTORS (Per $1,000 Of Original Certificate Balance)
Ending
Original Interest Principal Certificate
CUSIP Certificate Distribution Distribution Balance
Number Balance Factor Factor Factor
<S> <C> <C> <C> <C> <C>
Class S None 110,787,857.17/(a)/ 0.40792404 0.00000000 989.38508669
Class A 525177AE1 109,983,388.00 5.63952985 5.75801284 975.02979077
</TABLE>
<TABLE>
<CAPTION>
INTEREST
Monthly Current
Interest Interest On Interest Interest Interest
Certificate Carryover Carryover Distributable Interest Distribution Carryover
Rate Shortfall Shortfall Amount Distribution Payment Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 0.49250% 0.00 0.00 45,193.03 45,193.03 45,193.03 0.00
Class A 6.90000% 0.00 0.00 620,254.60 620,254.60 620,254.60 0.00
Total 0.00 0.00 665,447.63 665,447.63 665,477.63 0.00
</TABLE>
<TABLE>
<CAPTION>
PRINCIPAL
Outstanding Monthly/(b)/ Current
Beginning Principal Principal Principal Ending Principal
Certificate Carryover Distributable Principal Distribution Certificate Carryover
Balance Shortfall Amount Distribution Payment Balance Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 110,114,995.12 ____ ____ ____ ____ 109,611,853.67 ____
Class A 107,870,365.55 0.00 633,285.76 633,285.76 633,285.76 107,237,079.79 0.00
Total 107,870,365.55 0.00 633,285.76 633,285.76 633,285.76 107,237,079.79 0.00
9
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 17,324.10 Defaulted Loans During The Related Due Period 130,144.31
Master Servicer Fee 18,352.79 Principal Balance Of All Defaulted
Master Servicer Reimbursement 5,420.67 Mortgage Loans 130,144.31
Trustee Fee 2,294.06 Cram Down Losses 0.00
Priority Expenses 0.00 Excess Interest Paid As Principal 130,144.31
Class Interest Distribution 665,447.63 Required OC Amount 2.00%
Amounts Owing to Certificate Insurer 16,180.55 Overcollateralization Prior to Allocation of
Class A Principal Distribution 633,285.76 Distributable Excess Spread 2,374,773.88
Class A Guaranteed Principal Distribution Amount 0.00 Actual Overcollateralization 2,374,773.88
Successor Master Servicer Fee 0.00 Required Overcollateralization 2,244,558.94
Other Fee 0.00 Beginning Collateral Balance 110,114,995.12
Class R Distribution 309,289.21 Ending Collateral Balance 109,611,853.67
Total Distribution Amount 1,667,594.77
/(a)/ The Class S Notional Amount as of the Reference Date of September 30, 1995; /(b)/ Includes
Guaranteed Principal, if any.
</TABLE>
27
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-4
**************************************************************************
In accordance with Section 4.01 (c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of July 1, 1995 among
Lehman ABS Corporation, as Depositor, the First National Bank of Keystone,
Lomas Mortgage USA, Inc., as Master Servicer and Claims Administrator, and
First Bank National Association as Trustee and as Contract of Insurance
Holder, the following data for the December 20, 1995 Distribution Date is
being presented to the Trustee, for use in making distributions, transfers,
deposits, withdrawals and overcollateralization calculations pursuant to
the Agreement. Capitalized terms used in the Certificate are used as
defined in the Agreement.
DUE PERIOD: November 1, 1995 - November 31, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)):
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: November 20, 1995 $ 110,114,995.12
---------------------
Less: Total Amount of
Defaulted Mortgage Loan: November 30, 1995 $ 130,144.31
---------------------
Adjusted Beginning
Aggregate Principal Balance: $ 109,984,850.81
---------------------
Interest due on Mortgage Loans during
the preceding Due Period: $ 1,154,104.14
---------------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 1,117,379.22
---------------------
Principal:
Regular Installments $ 165,501.32
---------------------
Curtailments $ 24,059.21
---------------------
Full Prepayments $ 313,580.92
---------------------
Foreclosures (Claim Funds Received)/
Other: See explanation $ 0.00
---------------------
Total Principal Collections: $ 503,141.45
---------------------
Defective Mortgage Loans Purchased by Keystone
as of the November 30, 1995 Monthly Cutoff
(2.04(c) and 3.12(b)):
(i) 100% of the Principal Balance of
such Defective Loans: $ 0.00
---------------------
(ii) Unpaid accrued interest for such
Defective Mortgages: $ 0.00
---------------------
28
<PAGE>
Mortgage Loans Purchased by Master Servicer as of
the November 30, 1995 Monthly Cutoff (3.12(b)):
(i) 100% of the Principal Balance of
Mortgage Loans with Rejected Claims: $ 0.00
---------------------
(ii) Unpaid accrued interest for such Mortgage
Loans with Rejected Claims: $ 0.00
---------------------
Amounts received from Keystone upon
optional termination (9.01(d)):
(i) 100% of Aggregate Principal Balance
for Mortgage Loan: $ 0.00
---------------------
(ii) Unpaid Accrued Interest: $ 0.00
---------------------
(iii) Fair Market Value of Pending FHA Claims
as determined by Independent Appraiser: $ 0.00
---------------------
(iv) Fair Market Value of Foreclosed
Properties as determined by Independent
Appraiser: $ 0.00
---------------------
TOTAL DISTRIBUTION AMOUNT: $ 1,657,245.59
=====================
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance -
Beginning Due Period $ N/A
---------------------
FHA Claims Paid $ N/A
---------------------
FHA Insurance Reductions/Additions $ N/A
---------------------
FHA Insurance Coverage Balance -
End of Due Period $ N/A
---------------------
FHA Claims Filed $ N/A
---------------------
FHA Claim Funds Available
from Other Transactions $ N/A
----------------------
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Twelve Month
Based on 5 Months. 0.33%
----------------------
Cumulative Default Percentage 0.12%
----------------------
30 Day + Delinquency Percentage 3.45%
----------------------
60 Day + Delinquency Percentage 0.63%
----------------------
29
<PAGE>
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 130,144.31
---------------------
Recoveries on Defaulted Loans
during the prior Due Period (Current): $ 0.00
---------------------
Amounts, if any, received with respect
to a Mortgage Loan or any related
Foreclosed Property subsequent to the
date of repurchase of such Mortgage Loan
or Foreclosed Property from
the Trust (Cumulative): $ 0.00
---------------------
The aggregate amount, if any, of any
Cram Down Losses that shall have occurred
during the preceding Due Period: $ 0.00
---------------------
Remaining defaulted loan balance reflecting all
collections received (losses): $ 0.00
---------------------
Total loans to be foreclosed
(see attached): # 0 $ 0.00
---------------------
OTHER:
FHA Premium Account Deposit (4.05.a.1): $ 17,324.10
---------------------
FHA Premiums Collected on Invoiced Loans: $ 42,366.06
---------------------
FHA Premiums and Other Charges Due: $ 5,127.53
---------------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 12,110.13
---------------------
Master Servicer Fee (4.05.a.ii): $ 18,352.79
---------------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 36,724.92
---------------------
Foreclosure Advances: $ 0.00
---------------------
Cumulative Advances made by Master Servicer:
Interest Advances: $ 215,577.20
---------------------
Foreclosure Advances: $ 0.00
---------------------
30
<PAGE>
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 5,420.67
---------------------
Foreclosure Advances: $ 0.00
---------------------
Unpaid Principal Balance -
Current Loans November 30, 1995 $ 105,705,250.98
---------------------
Certificate Provided By: /s/ Kelly Stricklan Date: 12/15/95
-------------------- --------
31
<PAGE>
Exhibit 6
<TABLE>
<CAPTION>
FHA TITLE I LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-4
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 1/25/96
FACTORS (Per $1,000 Of Original Certificate Balance)
Ending
Original Interest Principal Certificate
CUSIP Certificate Distribution Distribution Balance
Number Balance Factor Factor Factor
<S> <C> <C> <C> <C> <C>
Class S None 110,787,857.17/(a)/ 0.40606011 0.00000000 983.88291880
Class A 525177AE1 109,983,388.00 5.60642131 8.09753478 966.93225599
</TABLE>
<TABLE>
<CAPTION>
INTEREST Monthly Current
Interest Interest On Interest Interest Interest
Certificate Carryover Carryover Distributable Interest Distribution Carryover
Rate Shortfall Shortfall Amount Distribution Payment Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 0.49250% 0.00 0.00 44,986.53 44,986.53 44,986.53 0.00
Class A 6.90000% 0.00 0.00 616,613.21 616,613.21 616,613.21 0.00
Total 0.00 0.00 661,599.74 661,599.74 661,599.74 0.00
</TABLE>
<TABLE>
<CAPTION>
PRINCIPAL
Outstanding Monthly /(b)/ Current
Beginning Principal Principal Principal Ending Principal
Certificate Carryover Distributable Principal Distribution Certificate Carryover
Balance Shortfall Amount Distribution Payment Balance Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class S 109,611,853.67 ____ ____ ____ ____ 109,002,280.28 ____
Class A 107,237,079.79 0.00 890,594.31 890,594.31 890,594.31 106,346,485.48 0.00
Total 107,237,079.79 0.00 890,594.31 890,594.31 890,594.31 106,346,485.48 0.00
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 17,165.61 Defaulted Loans During The Related Due
Master Servicer Fee 18,269.02 Period 281,020.92
Master Servicer Reimbursement 14,452.19 Principal Balance Of All Defaulted
Trustee Fee 2,283.58 Mortgage Loans 411,165.23
Priority Expenses 0.00 Cram Down Losses 0.00
Class Interest Distribution 661,599.74 Excess Interest Paid As Principal 281,020.92
Amounts Owing to Certificate Insurer 16,621.75 Required OC Amount 2.00%
Class A Principal Distribution 890,594.31 Overcollateralization Prior to
Class A Guaranteed Principal Allocation of
Distribution Amount 0.00 Distributable Excess Spread 2,655,794.80
Successor Master Servicer Fee 0.00 Actual Overcollateralization 2,655,794.80
Other Fee 0.00 Required Overcollateralization 2,244,558.94
Class R Distribution 141,992.56 Beginning Collateral Balance 109,611,853.67
Ending Collateral Balance 109,002,280.28
Total Distribution Amount 1,762,978.76
/(a)/ The Class S Notional Amount as of the Reference Date of September 30, 1995. /(b)/ Includes
Guaranteed Principal, if any.
</TABLE>
32
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-4
*************************************************************************
In accordance with Section 4.01 (c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of July 1, 1995 among
Lehman ABS Corporation, as Depositor, the First National Bank of Keystone,
Lomas Mortgage USA, Inc., as Master Servicer and Claims Administrator, and
First Bank National Association as Trustee and as Contract of Insurance
Holder, the following data for the January 22, 1996 Distribution Date is
being presented to the Trustee for use in making distributions, transfers,
deposits, withdrawals and overcollateralization calculations pursuant to
the Agreement. Capitalized terms used in the Certificate are used as
defined in the Agreement.
DUE PERIOD: December 1, 1995 - December 31, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b))-
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: December 20, 1995 $ 109,611,853.67
---------------------
Less: Total Amount of
Defaulted Mortgage Loan: December 31, 1995 $ 411,165.23
---------------------
Adjusted Beginning
Aggregate Principal Balance: $ 109,200,688.44
---------------------
Interest due on Mortgage Loans during
the preceding Due Period: $ 1,145,527.70
---------------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 1,051,020.28
---------------------
Principal:
Regular Installments $ 156,613.50
---------------------
Curtailments $ 9,980.53
---------------------
Full Prepayments $ 442,979.36
---------------------
Foreclosures (Claim Funds Received)/
Other: See explanation $ 0.00
---------------------
Total Principal Collections: $ 609,573.39
---------------------
Defective Mortgage Loans Purchased by Keystone
as of December 31, 1995 Monthly Cutoff
(2.04(c) and 3.12(b)):
(i) 100% of the Principal Balance of
such Defective Loans: $ 0.00
---------------------
(ii) Unpaid accrued interest for such
Defective Mortgages: $ 0.00
---------------------
33
<PAGE>
Mortgage Loans Purchased by Master Servicer as of
the December 31, 1995 Monthly Cutoff (3.12(b)):
(i) 100% of the Principal Balance of
Mortgage Loans with Rejected Claims: $ 0.00
---------------------
(ii) Unpaid accrued interest for such Mortgage
Loans with Rejected Claims: $ 0.00
---------------------
Amounts received from Keystone upon
optional termination (9.01(d)):
(i) 100% of Aggregate Principal Balance
for Mortgage Loan. $ 0.00
---------------------
(ii) Unpaid Accrued Interest $ 0.00
---------------------
(iii) Fair Market Value of Pending FHA Claims
as determined by Independent Appraiser: $ 0.00
---------------------
(iv) Fair Market Value of Foreclosed
Properties as determined by Independent
Appraiser: $ 0.00
---------------------
TOTAL DISTRIBUTION AMOUNT: $ 1,755,101.09
=====================
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance -
Beginning Due Period $ 4,734,248.84
---------------------
FHA Claims Paid $ 0.00
---------------------
FHA Insurance Reductions/Additions $ 2,774,350.33
---------------------
FHA Insurance Coverage Balance -
End of Due Period $ 7,508,599.17
---------------------
FHA Claims Filed $ 0.00
---------------------
FHA Claim Funds Available
from Other Transactions $ 6,459,759.45
---------------------
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Twelve Month
Based on 6 Months. 0.85%
----------------------
Cumulative Default Percentage 0.37%
----------------------
30 Day + Delinquency Percentage 4.20%
----------------------
60 Day + Delinquency Percentage 0.87%
----------------------
34
<PAGE>
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 281,020.92
---------------------
Recoveries on Defaulted Loans during the
prior Due Period (Current): $ 0.00
---------------------
Amounts, if any, received with respect
to a Mortgage Loan or any related
Foreclosed Property subsequent to the
date of repurchase of such Mortgage Loan
or Foreclosed Property from
the Trust (Cumulative): $ 0.00
---------------------
The aggregate amount, if any, of any
Cram Down Losses that shall have occurred
during the preceding Due Period: $ 0.00
---------------------
Remaining defaulted loan balance reflecting all
collections received (losses): $ 0.00
---------------------
Total loans to be foreclosed
(see attached): # 0 $ 0.00
---------------------
OTHER:
FHA Premium Account Deposit (4.05.a.1): $ 17,165.61
---------------------
FHA Premiums Collected on Invoiced Loans: $ 40,225.23
---------------------
FHA Premiums and Other Charges Due: $ 2,302.37
---------------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 13,882.71
---------------------
Master Servicer Fee (4.05.a.ii): $ 18,269.02
---------------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 94,507.42
---------------------
Foreclosure Advances: $ 0.00
---------------------
Cumulative Advances made by Master Servicer:
Interest Advances: $ 304,663.95
---------------------
Foreclosure Advances: $ 0.00
---------------------
35
<PAGE>
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 14,452.19
---------------------
Foreclosure Advances: $ 0.00
---------------------
Unpaid Principal Balance -
Current Loans December 31, 1995 $ 104,009,471.97
---------------------
Certificate Provided By: /s/ Kelly Stricklan Date: 1/17/96
----------------------- -------
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