<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) January 25, 1995
LEHMAN ABS CORPORATION (as depositor under the Pooling and Servicing
Agreement dated as of December 1, 1994, providing for the issuance of
the Lehman FHA Title I Loan Trust 1995-2, FHA Title I Loan Asset
Backed Certificates, Series 1995-2)
LEHMAN ABS CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 33-98594 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
<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: Monthly Certificateholder Report Statement to the
Certificateholders, dated as of January 25, 1995.
Exhibit 2: Monthly Certificateholder Report Statement to the
Certificateholders, dated as of February 25, 1995.
Exhibit 3: Monthly Certificateholder Report Statement to the
Certificateholders, dated as of March 25, 1995.
Exhibit 4: Monthly Certificateholder Report Statement to the
Certificateholders, dated as of April 25, 1995.
Exhibit 5: Monthly Certificateholder Report Statement to the
Certificateholders, dated as of May 25, 1995.
Exhibit 6: Monthly Certificateholder Report Statement to the
Certificateholders, dated as of June 25, 1995.
Exhibit 7: Monthly Certificateholder Report Statement to the
Certificateholders, dated as of July 25, 1995.
Exhibit 8: Monthly Certificateholder Report Statement to the
Certificateholders, dated as of August 25, 1995.
Exhibit 9: Monthly Certificateholder Report Statement to the
Certificateholders, dated as of September 25, 1995.
Exhibit 10: Monthly Certificateholder Report Statement to the
Certificateholders, dated as of October 25, 1995.
Exhibit 11: Monthly Certificateholder Report Statement to the
Certificateholders, dated as of November 25, 1995.
Exhibit 12: Monthly Certificateholder Report Statement to the
Certificateholders, dated as of December 25, 1995.
Exhibit 13: Monthly Certificateholder Report Statement to the
Certificateholders, dated as of 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 27, 1996
3
<PAGE>
EXHIBIT INDEX
4
<PAGE>
Sequential
Document Page Number
Exhibit 1: Monthly Certificateholder Report to the
Certificateholders dated as of January 25, 1995. 6
Exhibit 2: Monthly Certificateholder Report to the
Certificateholders dated as of February 25, 1995 11
Exhibit 3: Monthly Certificateholder Report to the
Certificateholders dated as of March 25, 1995 16
Exhibit 4: Monthly Certificateholder Report to the
Certificateholders dated as of April 25, 1995 21
Exhibit 5: Monthly Certificateholder Report to the
Certificateholders dated as of May 25, 1995 26
Exhibit 6: Monthly Certificateholder Report to the
Certificateholders dated as of June 25, 1995 31
Exhibit 7: Monthly Certificateholder Report to the
Certificateholders dated as of July 25, 1995 36
Exhibit 8: Monthly Certificateholder Report to the
Certificateholders dated as of August 25, 1995 41
Exhibit 9: Monthly Certificateholder Report to the
Certificateholders dated as of September 25, 1995 46
Exhibit 10: Monthly Certificateholder Report to the
Certificateholders dated as of October 25, 1995 51
Exhibit 11: Monthly Certificateholder Report to the
Certificateholders dated as of November 25, 1995 56
Exhibit 12: Monthly Certificateholder Report to the
Certificateholders dated as of December 25, 1995 61
Exhibit 13: Monthly Certificateholder Report to the
Certificateholders dated as of January 25, 1996 66
EXHIBIT 1
5
<PAGE>
LEHMAN HOME IMPROVEMENT LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-2
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 1/25/95
<TABLE>
FACTORS (Per $1,000.00 Of Original Certificate Balance)
<CAPTION> Ending
Interest Principal Certificate
Original Distribution Distribution Balance
Balance Factor Factor Factor
<S> <C> <C> <C> <C>
Class A-1 24,000,000.00 7.20833333 9.58329542 990.41670458
Class A-2 11,000,000.00 7.45833364 0.00000000 1,000.00000000
Class A-3 13,500,000.00 7.50000000 0.00000000 1,000.00000000
Class A-4 18,300,000.00 7.58333333 0.00000000 1,000.00000000
</TABLE>
<TABLE>
INTEREST
<CAPTION>
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 A-1 8.65% 0.00 0.00 173,000.00 173,000.00 173,000.00 0.00
Class A-2 8.95% 0.00 0.00 82,041.67 82,041.67 82,041.67 0.00
Class A-3 9.00% 0.00 0.00 101,250.00 101,250.00 101,250.00 0.00
Class A-4 9.10% 0.00 0.00 138,775.00 138,775.00 138,775.00 0.00
Total 0.00 0.00 495,066.67 495,066.67 495,066.67 0.00
</TABLE>
<TABLE>
PRINCIPAL
<CAPTION>
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 A-1 24,000,000.00 0.00 229,999.09 229,999.09 229,999.09 23,770,000.91 0.00
Class A-2 11,000,000.00 0.00 0.00 0.00 0.00 11,000,000.00 0.00
Class A-3 13,500,000.00 0.00 0.00 0.00 0.00 13,500,000.00 0.00
Class A-4 18,300,000.00 0.00 0.00 0.00 0.00 18,300,000.00 0.00
Total 66,800,000.00 0.00 229,999.09 229,999.09 229,999.09 66,570,000.91 0.00
</TABLE>
<TABLE>
<CAPTION>
OTHER DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 2,667.94 Defaulted Loans During The Related Due
Master Servicer Fee 11,079.53 Period 0.00
Master Servicer Reimbursement 0.00 Principal Balance Of All Defaulted
Mortgage Loans 0.00
Trustee Fee 4,687.71 Cram Down Losses 0.00
Priority Expenses 0.00 Excess Interest Paid as Principal 85,210.36
Class Interest Distribution 495,066.67 Required OC Multiple 100.00%
Amounts Owing to Certificate Insurer 38,832.50 Overcollateralization Prior To Allocation of
Class A Principal Distribution 229,999.09 Distributable Excess Spread 3,515,694.03
Class A Guaranteed Principal Actual Overcollateralization 3,600,904.39
Distribution Amount 0.00 Required Overcollateralization 5,678,000.00
Successor Master Servicer Fee 0.00 Beginning Collateral Balance 44,315,694.03
Other Fee 0.00 Ending Collateral Balance 44,170,905.30
Class R Distribution 0.00
Total Distribution Amount 782,333.44
</TABLE>
6
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-2
**************************************************************************
In accordance with Section 4.01(c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of December 1, 1994 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, 1994 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: Dec 1 to Dec 31, 1994
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)) -
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: 20-Nov-94 $ 44,315,694.03
----------------
Less: Total Amount of
Defaulted Mortgage Loans: 31-Dec-94 $ 0.00
----------------
Adjusted Beginning Aggregate
Principal Balance: $ 44,315,694.03
----------------
Interest due on Mortgage Loans during
the preceding Due Period: $ 456,294.73
----------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 410,008.62
----------------
Principal:
Regular Installments $ 66,454.52
----------------
Curtailments $ (3,640.96)
----------------
Full Prepayments $ 82,057.68
----------------
Foreclosures (Claim Funds Received)/Other:
See explanation
(Adjustments to Beginning Balances) $ (82.51)
----------------
Total Principal Collections: $ 144,788.73
----------------
7
<PAGE>
Defective Mortgage Loans Purchased by Keystone
as December 31, 1994 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
----------------
Mortgage Loans Purchased by Master Servicer
as of the December 31, 1994 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: $ 601,083.46
----------------
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance - Beg 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
----------------
8
<PAGE>
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Six Month 0.00%
----------------
Annual Default Percentage - Rolling Twelve Month 0.00%
Based on 1 Month. ----------------
Cumulative Default Percentage 0.00%
----------------
30 Day + Delinquency Percentage 1.13%
----------------
60 Day + Delinquency Percentage 0.17%
----------------
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): $ 2,667.94
----------------
FHA Premiums Collected on Invoiced Loans: $ 15,129.26
----------------
FHA Premiums and Other Charges Due: $ 300.00
----------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 4,725.50
----------------
Master Servicer Fee (4.05.a.ii): $ 11,079.53
----------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 46,572.52
----------------
Foreclosure Advances: $ 0.00
----------------
9
<PAGE>
Cumulative Advances made by Master Servicer:
Interest Advances: $ 46,286.11
----------------
Foreclosure Advances: $ 0.00
----------------
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
31-Dec-94 $ 43,671,577.63
----------------
Certificate Provided By: Date:
----------------------------- ---------
10
<PAGE>
EXHIBIT 2
LEHMAN HOME IMPROVEMENT LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-2
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 2/25/95
<TABLE>
FACTORS (Per $1,000.00 Of Original Certificate Balance)
<CAPTION> Ending
Interest Principal Certificate
Original Distribution Distribution Balance
Balance Factor Factor Factor
<S> <C> <C> <C> <C>
Class A-1 24,000,000.00 7.13925375 11.53699917 978.87970542
Class A-2 11,000,000.00 7.45833364 0.00000000 1,000.00000000
Class A-3 13,500,000.00 7.50000000 0.00000000 1,000.00000000
Class A-4 18,300,000.00 7.58333333 0.00000000 1,000.00000000
</TABLE>
<TABLE>
INTEREST
<CAPTION> 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 A-1 8.65% 0.00 0.00 171,342.09 171,342.09 171,342.09 0.00
Class A-2 8.95% 0.00 0.00 82,041.67 82,041.67 82,041.67 0.00
Class A-3 9.00% 0.00 0.00 101,250.00 101,250.00 101,250.00 0.00
Class A-4 9.10% 0.00 0.00 138,775.00 138,775.00 138,775.00 0.00
Total 0.00 0.00 493,408.76 493,408.76 493,408.76 0.00
</TABLE>
<TABLE>
PRINCIPAL
<CAPTION>
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 A-1 23,770,000.91 0.00 276,887.98 276,887.98 276,887.98 23,493,112.93 0.00
Class A-2 11,000,000.00 0.00 0.00 0.00 0.00 11,000,000.00 0.00
Class A-3 13,500,000.00 0.00 0.00 0.00 0.00 13,500,000.00 0.00
Class A-4 18,300,000.00 0.00 0.00 0.00 0.00 18,300,000.00 0.00
Total 66,570,000.91 0.00 276,887.98 276,887.98 276,887.98 66,293,112.93 0.00
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 2,658.35 Defaulted Loans During The Related Due
Master Servicer Fee 11,043.21 Period 0.00
Master Servicer Reimbursement 0.00 Principal Balance Of All Defaulted
Trustee Fee 4,678.06 Mortgage Loans 0.00
Priority Expenses 0.00 Cram Down Losses 0.00
Class Interest Distribution 493,408.76 Excess Interest Paid As Principal 87,228.04
Amounts Owing to Certificate Insurer 38,670.98 Required OC Multiple 100.00%
Class A Principal Distribution 276,887.98 Overcollateralization Prior To
Class A Guaranteed Principal Allocation Of Distributable
Distribution Amount 0.00 Excess Spread 3,600,103.77
Successor Master Servicer Fee 0.00 Actual Overcollateralization 3,687,331.81
Other Fee 0.00 Required Overcollateralization 5,678,000.00
Class R Distribution 0.00 Beginning Collateral Balance 44,170,905.30
Ending Collateral Balance 69,980,444.74
Total Distribution Amount 827,347.34
</TABLE>
11
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-2
*********************************************************************
In accordance with Section 4.01(c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of December 1, 1994 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 February 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: January 1 to January 31, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)) -
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: 20-Jan-95 $ 44,170,905.30
----------------
Less: Total Amount of Defaulted
Mortgage Loan: 31-Jan-95 $ 0.00
----------------
Adjusted Beginning Aggregate
Principal Balance: $ 4,170,905.30
----------------
Interest due on Mortgage Loans during
the preceding Due Period: $ 454,815.40
----------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 466,525.62
----------------
Principal:
Regular Installments $ 75,173.44
----------------
Curtailments $ 34,762.70
----------------
Full Prepayments $ 79,723.80
----------------
Foreclosures (Claim Funds Received)/Other: $ 0.00
See explanation ----------------
(Adjustments to Beginning Balances)
Total Principal Collections: $ 189,659.94
----------------
12
<PAGE>
Defective Mortgage Loans Purchased by Keystone
as of January 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
----------------
Mortgage Loans Purchased by Master Servicer
as of the January 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: $ 644,475.34
----------------
----------------
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance - Beg 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
----------------
13
<PAGE>
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Six Month 0.00%
----------------
Annual Default Percentage - Rolling Twelve Month 0.00%
Based on 2 Months ----------------
Cumulative Default Percentage 0.00%
----------------
30 Day + Delinquency Percentage 1.55%
----------------
60 Day + Delinquency Percentage 0.35%
----------------
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): $ 2,658.35
----------------
FHA Premiums Collected on Invoiced Loans: $ 17,588.63
----------------
FHA Premiums and Other Charges Due: $ 400.00
----------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 4,132.50
----------------
Master Servicer Fee (4.05.a.ii): $ 11,043.21
----------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 2,937.77
----------------
Foreclosure Advances: $ 0.00
----------------
14
<PAGE>
Cumulative Advances made by Master Servicer:
Interest Advances: $ 35,888.24
----------------
Foreclosure Advances: $ 0.00
----------------
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 31-Jan-95 $ 43,297,576.97
----------------
Certificate Provided By: Date:
----------------------------- ---------
15
<PAGE>
EXHIBIT 3
LEHMAN HOME IMPROVEMENT LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-2
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 3/25/95
<TABLE>
FACTORS (Per $1,000.00 Of Original Certificate Balance)
<CAPTION> Ending
Interest Principal Certificate
Original Distribution Distribution Balance
Balance Factor Factor Factor
<S> <C> <C> <C> <C>
Class A-1 24,000,000.00 7.05609125 22.50060125 956.37910417
Class A-2 11,000,000.00 7.45833364 0.00000000 1,000.00000000
Class A-3 13,500,000.00 7.50000000 0.00000000 1,000.00000000
Class A-4 18,300,000.00 7.58333333 0.00000000 1,000.00000000
</TABLE>
<TABLE>
INTEREST
<CAPTION> 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 A-1 8.65% 0.00 0.00 169,346.19 169,346.19 169,346.19 0.00
Class A-2 8.95% 0.00 0.00 82,041.67 82,041.67 82,041.67 0.00
Class A-3 9.00% 0.00 0.00 101,250.00 101,250.00 101,250.00 0.00
Class A-4 9.10% 0.00 0.00 138,775.00 138,775.00 138,775.00 0.00
Total 0.00 0.00 491,412.86 491,412.86 491,412.86 0.00
</TABLE>
<TABLE>
PRINCIPAL
<CAPTION>
Outstanding Monthly Current
Beginning Principal Principal Principal Ending Principal
Certificate Carryover Distribution Principal Distribution Certificate Carryover
Balance Shortfall Amount Distribution Payment Balance Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
Class A-1 23,493,112.93 0.00 540,014.43 540,014.43 540,014.43 22,953,098.50 0.00
Class A-2 11,000,000.00 0.00 0.00 0.00 0.00 11,000,000.00 0.00
Class A-3 13,500,000.00 0.00 0.00 0.00 0.00 13,500,000.00 0.00
Class A-4 18,300,000.00 0.00 0.00 0.00 0.00 18,300,000.00 0.00
Total 66,293,112.93 0.00 540,014.43 540,014.43 540,014.43 65,753,098.50 0.00
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 3,680.65 Defaulted Loans During The Related Due
Master Servicer Fee 17,495.54 Period 0.00
Master Servicer Reimbursement 0.00 Principal Balance Of All Defaulted
Trustee Fee 4,665.36 Mortgage Loans 0.00
Priority Expenses 0.00 Cram Down Losses 0.00
Class Interest Distribution 491,412.86 Excess Interest Paid As Principal 167,935.94
Amounts Owing to Certificate Insurer 38,355.97 Required OC Multiple 100.00%
Class A Principal Distribution 540,014.43 Overcollateralization Prior To
Class A Guaranteed Principal Allocation Of
Distribution Amount 0.00 Distributable Excess Spread 3,687,331.81
Successor Master Servicer Fee 0.00 Actual Overcollateralization 3,855,267.75
Other Fee 0.00 Required Overcollateralization 5,678,000.00
Class R Distribution 0.00 Beginning Collateral Balance 69,980,444.74
Ending Collateral Balance 69,608,366.25
Total Distribution Amount 1,095,624.81
</TABLE>
16
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-2
*****************************************************************************
In accordance with Section 4.01 (c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of December 1, 1994 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 March 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: Feb 1 to Feb 28, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)) -
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: 21-Feb-95 $ 69,980,444.74
----------------
Less: Total Amount of Defaulted Mortgage
Loans: 28 Feb-95 $ 0.00
----------------
Adjusted Beginning Aggregate Principal Balance: $ 69,980,444.74
----------------
Interest due on Mortgage Loans during the
preceding Due Period: $ 719,163.66
----------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 673,058.97
----------------
Principal:
Regular Installments $ 106,930.51
----------------
Curtailments $ 38,092.84
----------------
Full Prepayments $ 227,055.14
----------------
Foreclosures (Claim Funds Received)/Other:
See explanation $ 0.00
----------------
(Adjustments to Beginning Balances)
Total Principal Collections: $ 372,078.49
----------------
17
<PAGE>
Defective Mortgage Loans Purchased by Keystone
as February 28, 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
----------------
Mortgage Loans Purchased by Master Servicer
as of the February 28, 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: $ 1,091,242.15
-----------------
-----------------
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance - Beg 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
----------------
18
<PAGE>
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Six Month 0.00%
----------------
Annual Default Percentage - Rolling Twelve Month 0.00%
----------------
Based on 3 Months.
Cumulative Default Percentage 0.00%
----------------
30 Day + Delinquency Percentage 1.62%
----------------
60 Day + Delinquency Percentage 0.49%
----------------
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): $ 3,680.65
----------------
FHA Premiums Collected on Invoiced Loans: $ 27,411.96
----------------
FHA Premiums and Other Charges Due: $ 915.00
----------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 7,164.57
----------------
Master Servicer Fee (4.05.a.ii): $ 17,495.54
----------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 45,714.94
----------------
Foreclosure Advances: $ 0.00
----------------
19
<PAGE>
Cumulative Advances made by Master Servicer:
Interest Advances: $ 80,806.03
----------------
Foreclosure Advances: $ 0.00
----------------
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 28-Feb-95 $ 68,482,930.64
----------------
Certificate Provided By: Date:
----------------------------- ---------
20
<PAGE>
EXHIBIT 4
LEHMAN HOME IMPROVEMENT LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-2
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 4/25/95
<TABLE>
FACTORS (Per $1,000.00 Of Original Certificate Balance)
<CAPTION> Ending
Interest Principal Certificate
Original Distribution Distribution Balance
Balance Factor Factor Factor
<S> <C> <C> <C> <C>
Class A-1 24,000,000.00 6.89389958 24.69770750 931.68139667
Class A-2 11,000,000.00 7.45833364 0.00000000 1,000.00000000
Class A-3 13,500,000.00 7.50000000 0.00000000 1,000.00000000
Class A-4 18,300,000.00 7.58333333 0.00000000 1,000.00000000
</TABLE>
<TABLE>
INTEREST
<CAPTION> 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 A-1 8.65% 0.00 0.00 165,453.59 165,453.59 165,453.59 0.00
Class A-2 8.95% 0.00 0.00 82,041.67 82,041.67 82,041.67 0.00
Class A-3 9.00% 0.00 0.00 101,250.00 101,250.00 101,250.00 0.00
Class A-4 9.10% 0.00 0.00 138,775.00 138,775.00 138,775.00 0.00
Total 0.00 0.00 487,520.26 487,520.26 487,520.26 0.00
</TABLE>
<TABLE>
PRINCIPAL
<CAPTION>
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 A-1 22,953,098.50 0.00 592,744.98 592,744.98 592,744.98 22,360,353.52 0.00
Class A-2 11,000,000.00 0.00 0.00 0.00 0.00 11,000,000.00 0.00
Class A-3 13,500,000.00 0.00 0.00 0.00 0.00 13,500,000.00 0.00
Class A-4 18,300,000.00 0.00 0.00 0.00 0.00 18,300,000.00 0.00
Total 65,753,098.50 0.00 592,774.98 592,744.98 592,744.98 65,160,353.52 0.00
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 3,666.43 Defaulted Loans During The Related Due Period 53,018.40
Master Servicer Fee 17,402.32 Principal Balance of All Defaulted
Master Servicer Reimbursement 1,690.62 Mortgage Loans 53,018.40
Trustee Fee 4,640.56 Cram Down Losses 0.00
Priority Expenses 0.00 Excess Interest Paid As Principal 168,474.38
Class Interest Distribution 487,520.26 Required OC Multiple 100.00%
Amounts Owing to Certificate Insurer 38,010.21 Overcollateralization Prior to Allocation of
Class A Principal Distribution 592,744.98 Distributable Excess Spread 3,908,286.15
Class A Guaranteed Principal Distribution Amount 0.00 Actual Overcollateralization 4,023,742.13
Successor Master Servicer Fee 0.00 Required Overcollateralization 5,678,000.00
Other Fee 0.00 Beginning Collateral Balance 69,608,366.25
Class R Distribution 0.00 Ending Collateral Balance 69,184,095.65
Total Distribution Amount 1,145,675.38
</TABLE>
21
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-2
*****************************************************************************
In accordance with Section 4.01 (c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of December 1, 1994 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 April 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: Mar 1 to Mar 31, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)) -
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: 20-Mar-95 $ 69,608,366.25
----------------
Less: Total Amount of Defaulted
Mortgage Loans: 31-Mar-95 $ 53,018.40
----------------
Adjusted Beginning
Aggregate Principal Balance: $ 9,555,347.85
----------------
Interest due on Mortgage Loans during
the preceding Due Period: $ 714,685.16
----------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 739,669.01
----------------
Principal:
Regular Installments $ 119,787.39*
----------------
*INCLUDES PRINCIPAL REDUCTION $50.29 & UPB INCREASE <$12.50>
DUE TO WRONG BALANCES SOLD
Curtailments $ 68,208.73
----------------
Full Prepayments $ 236,274.48
----------------
Foreclosures (Claim Funds Received)/Other: $ 0.00
See explanation ----------------
(Adjustments to Beginning Balances)
Total Principal Collections: $ 424,270.60
----------------
22
<PAGE>
Defective Mortgage Loans Purchased by Keystone
as March 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
----------------
Mortgage Loans Purchased by Master Servicer
as of the March 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: $ 1,138,955.76
----------------
----------------
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance - Beg 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
----------------
23
<PAGE>
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Six Month 0.28%
----------------
Annual Default Percentage - Rolling Twelve Month 0.28%
----------------
Based on 4 Months
Cumulative Default Percentage 0.08%
----------------
30 Day + Delinquency Percentage 1.90%
----------------
60 Day + Delinquency Percentage 0.62%
----------------
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 53,018.40
----------------
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): $ 3,666.43
----------------
FHA Premiums Collected on Invoiced Loans: $ 28,476.12
----------------
FHA Premiums and Other Charges Due: $ 2,523.79
----------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 6,156.20
----------------
Master Servicer Fee (4.05.a.ii): $ 17,402.32
----------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 95.18
----------------
Foreclosure Advances: $ 0.00
----------------
24
<PAGE>
Cumulative Advances made by Master Servicer:
Interest Advances: $ 55,978.13
----------------
Foreclosure Advances: $ 0.00
----------------
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 1,690.62
----------------
Foreclosure Advances: $ 0.00
----------------
Unpaid Principal Balance - Current Loans 31-Mar-95 $ 67,817,847.62
----------------
Certificate Provided By: Date:
----------------------------- ---------
25
<PAGE>
EXHIBIT 5
LEHMAN HOME IMPROVEMENT LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-2
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 5/25/95
<TABLE>
FACTORS (Per $1,000.00 Of Original Certificate Balance)
<CAPTION> Ending
Interest Principal Certificate
Original Distribution Distribution Balance
Balance Factor Factor Factor
<S> <C> <C> <C> <C>
Class A-1 24,000,000.00 6.71587000 21.85008375 909.83131292
Class A-2 11,000,000.00 7.45833364 0.00000000 1,000.00000000
Class A-3 13,500,000.00 7.50000000 0.00000000 1,000.00000000
Class A-4 18,300,000.00 7.58333333 0.00000000 1,000.00000000
</TABLE>
<TABLE>
INTEREST
<CAPTION>
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 A-1 8.65% 0.00 0.00 161,180.88 161,180.88 161,180.88 0.00
Class A-2 8.95% 0.00 0.00 82,041.67 82,041.67 82,041.67 0.00
Class A-3 9.00% 0.00 0.00 101,250.00 101,250.00 101,250.00 0.00
Class A-4 9.10% 0.00 0.00 138,775.00 138,775.00 138,775.00 0.00
Total 0.00 0.00 483,247.55 483,247.55 483,247.55 0.00
</TABLE>
<TABLE>
PRINCIPAL
<CAPTION>
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 A-1 22,360,353.52 0.00 524,402.01 524,402.01 524,402.01 21,835,951.51 0.00
Class A-2 11,000,000.00 0.00 0.00 0.00 0.00 11,000,000.00 0.00
Class A-3 13,500,000.00 0.00 0.00 0.00 0.00 13,500,000.00 0.00
Class A-4 18,300,000.00 0.00 0.00 0.00 0.00 18,300,000.00 0.00
Total 65,160,353.52 0.00 524,402.01 524,402.01 524,402.01 64,635,951.51 0.00
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 3,626.26 Defaulted Loans During The Related Due Period 121,562.52
Master Servicer Fee 17,296.75 Principal Balance Of All Defaulted
Master Servicer Reimbursement 5,081.64 Mortgage Loans 174,580.02
Trustee Fee 4,612.27 Cram Down Losses 0.00
Priority Expenses 0.00 Excess Interest Paid As Principal 164,031.28
Class Interest Distribution 483,247.55 Required OC Multiple 100.00%
Amounts Owing to Certificate Insurer 37,704.31 Overcollateralization Prior to Allocation of
Class A Principal Distribution 524,402.01 Distributable Excess Spread 4,145,304.65
Class A Guaranteed Principal Distribution Amount 0.00 Actual Overcollateralization 4,187,773.41
Successor Master Servicer Fee 0.00 Required Overcollateralization 5,678,000.00
Other Fee 0.00 Beginning Collateral Balance 69,184,095.65
Class R Distribution 0.00 Ending Collateral Balance 68,823,724.92
Total Distribution Amount 1,075,970.79
</TABLE>
26
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-2
*****************************************************************************
In accordance with Section 4.01(c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of December 1, 1994 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 May 22, 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: Apr 1 to Apr 30, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)) -
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: 20-Apr-95 $ 69,184,095.65
----------------
Less: Total Amount of Defaulted
Mortgage Loans: 30-Apr-95 $ 174,580.92
----------------
Adjusted Beginning Aggregate
Principal Balance: $ 69,009,514.73
----------------
Interest due on Mortgage Loans during the
preceding Due Period: $ 709,053.96
----------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 662,100.86
----------------
Principal:
Regular Installments $ 111,592.63
----------------
Curtailments $ 46,885.80
----------------
Full Prepayments $ 201,892.30
----------------
Foreclosures (Claim Funds Received)/Other:
See explanation $ 0.00
----------------
(Adjustments to Beginning Balances)
Total Principal Collections: $ 360,370.73
----------------
27
<PAGE>
Defective Mortgage Loans Purchased by Keystone
as April 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
----------------
Mortgage Loans Purchased by Master Servicer
as of the April 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: $ 1,069,424.69
----------------
----------------
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance - Beg Due Period $ 0.00
----------------
FHA Claims Paid $ 0.00
----------------
FHA Insurance Reductions/Additions $ 1,789,073.43
----------------
FHA Insurance Coverage Balance - End of due Period $ 1,789,073.43
----------------
FHA Claims Filed $ 0.00
----------------
FHA Claim Funds Available from Other Transactions $ 0.00
----------------
28
<PAGE>
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Six Month 0.71%
----------------
Annual Default Percentage - Rolling Twelve Month 0.71%
----------------
Based on 5 Months.
Cumulative Default Percentage 0.25%
----------------
30 Day + Delinquency Percentage 2.26%
----------------
60 Day + Delinquency Percentage 0.73%
----------------
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 121,562.52
----------------
Recoveries on Defaulted Loans during the prior
Due Period (Current): $ 46.76
----------------
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): $ 46.76
----------------
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): $ 3,626.26
----------------
FHA Premiums Collected on Invoiced Loans: $ 25,185.92
----------------
FHA Premiums and Other Charges Due: $ 6,237.49
----------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 7,580.37
----------------
Master Servicer Fee (4.05.a.ii): $ 17,296.75
----------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 46,953.10
----------------
Foreclosure Advances: $ 0.00
----------------
29
<PAGE>
Cumulative Advances made by Master Servicer:
Interest Advances: $ 101,328.42
----------------
Foreclosure Advances: $ 0.00
----------------
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 5,081.64
----------------
Foreclosure Advances: $ 0.00
----------------
Unpaid Principal Balance - Current Loans30-Apr-95 $ 67,092,768.64
-----------------
Certificate Provided By: Date:
----------------------------- ---------
30
<PAGE>
EXHIBIT 6
LEHMAN HOME IMPROVEMENT LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-2
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 6/25/95
<TABLE>
FACTORS (Per $1,000.00 Of Original Certificate Balance)
<CAPTION>
Ending
Interest Principal Certificate
Original Distribution Distribution Balance
Balance Factor Factor Factor
<S> <C> <C> <C> <C>
Class A-1 24,000,000.00 6.55836750 24.19192000 885.63939292
Class A-2 11,000,000.00 7.45833364 0.00000000 1,000.00000000
Class A-3 13,500,000.00 7.50000000 0.00000000 1,000.00000000
Class A-4 18,300,000.00 7.58333333 0.00000000 1,000.00000000
</TABLE>
<TABLE>
INTEREST
<CAPTION>
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 A-1 8.65% 0.00 0.00 157,400.82 157,400.82 157,400.82 0.00
Class A-2 8.95% 0.00 0.00 82,041.67 82,041.67 82,041.67 0.00
Class A-3 9.00% 0.00 0.00 101,250.00 101,250.00 101,250.00 0.00
Class A-4 9.10% 0.00 0.00 138,775.00 138,775.00 138,775.00 0.00
Total 0.00 0.00 479,467.49 479,467.49 479,467.49 0.00
</TABLE>
<TABLE>
PRINCIPAL
<CAPTION>
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 A-1 21,835,951.51 0.00 693,896.85 693,896.85 580,606.08 21,255,345.43 113,290.77
Class A-2 11,000,000.00 0.00 0.00 0.00 0.00 11,000,000.00 0.00
Class A-3 13,500,000.00 0.00 0.00 0.00 0.00 13,500,000.00 0.00
Class A-4 18,300,000.00 0.00 0.00 0.00 0.00 18,300,000.00 0.00
Total 64,635,951.51 0.00 693,896.85 693,896.85 580,606.08 64,055,345.43 113,290.77
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 3,583.11 Defaulted Loans During The Related Due Period 269,487.36
Master Servicer Fee 17,206.55 Principal Balance Of All Defaulted
Master Servicer Reimbursement 10,503.87 Mortgage Loans 444,041.95
Trustee Fee 4,588.25 Cram Down Losses 0.00
Priority Expenses 0.00 Excess Interest Paid As Principal 156,196.59
Class Interest Distribution 479,467.49 Required OC Multiple 100.00%
Amounts Owing to Certificate Insurer 37,365.62 Overcollateralization Prior To
Class A Principal Distribution 580,606.08 Allocation Of Distributable Excess Spread 4,343,943.67
Class A Guaranteed Principal Distribution Amount 0.00 Actual Overcollateralization 4,343,943.67
Successor Master Servicer Fee 0.00 Required Overcollateralization 5,976,833.99
Other Fee 0.00 Beginning Collateral Balance 68,823,724.92
Class R Distribution 0.00 Ending Collateral Balance 68,399,289.10
Total Distribution Amount 1,133,320.97
</TABLE>
31
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-2
*****************************************************************************
In accordance with Section 4.01 (c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of December 1, 1994 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 June 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: May 1 to May 31, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)) -
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: 22-May-95 $ 68,823,724.92
----------------
Less: Total Amount of Defaulted
Mortgage Loans: 31-May-95 $ 444,068.28
----------------
Adjusted Beginning Aggregate
Principal Balance: $ 68,379,656.64
----------------
Interest due on Mortgage Loans during the
preceding Due Period: $ 702,556.98
----------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 694,096.61
----------------
Principal:
Regular Installments $ 115,754.63
----------------
Curtailments $ 46,935.81
----------------
Full Prepayments $ 261,745.38
----------------
Foreclosures (Claim Funds Received)/Other:
See explanation $ (26.33)
----------------
(Adjustments to Beginning Balances)
Total Principal Collections: $ 424,409.49
----------------
32
<PAGE>
Defective Mortgage Loans Purchased by Keystone
as May 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
----------------
Mortgage Loans Purchased by Master Servicer
as of the May 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: $ 1,126,966.47
----------------
----------------
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance - Beg Due Period $ 1,789,073.43
----------------
FHA Claims Paid $ 0.00
----------------
FHA Insurance Reductions/Additions $ 1,731,715.20
----------------
FHA Insurance Coverage Balance - End of due Period $ 3,520,788.63
----------------
FHA Claims Filed $ 0.00
----------------
FHA Claim Funds Available from Other Transactions $ 0.00
----------------
33
<PAGE>
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Six Month 1.46%
----------------
Annual Default Percentage - Rolling Twelve Month 1.46%
----------------
Based on 6 Months.
Cumulative Default Percentage 0.63%
----------------
30 Day + Delinquency Percentage 2.72%
----------------
60 Day + Delinquency Percentage 0.79%
----------------
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 269,487.36
----------------
Recoveries on Defaulted Loans during the
prior Due Period (Current): $ 46.69
----------------
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): $ 93.45
----------------
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): $ 3,583.11
----------------
FHA Premiums Collected on Invoiced Loans: $ 26,688.12
----------------
FHA Premiums and Other Charges Due: $ 7,332.05
----------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 7,455.70
----------------
Master Servicer Fee (4.05.a.ii): $ 17,206.55
----------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 11,890.21
----------------
Foreclosure Advances: $ 0.00
----------------
34
<PAGE>
Cumulative Advances made by Master Servicer:
Interest Advances: $ 104,415.16
----------------
Foreclosure Advances: $ 0.00
----------------
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 10,503.87
----------------
Foreclosure Advances: $ 0.00
----------------
Unpaid Principal Balance - Current Loans
31-May-95 $ 66,093,818.66
----------------
Certificate Provided By: Date:
----------------------------- ---------
35
<PAGE>
EXHIBIT 7
<TABLE>
LEHMAN HOME IMPROVEMENT LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-2
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 7/25/95
FACTORS (Per $1,000.00 Of Original Certificate Balance)
<CAPTION>
Ending
Interest Principal Certificate
Original Distribution Distribution Balance
Balance Factor Factor Factor
<S> <C> <C> <C> <C>
Class A-1 24,000,000.00 6.38398375 28.77952750 856.85986542
Class A-2 11,000,000.00 7.45833364 0.00000000 1,000.00000000
Class A-3 13,500,000.00 7.50000000 0.00000000 1,000.00000000
Class A-4 18,300,000.00 7.58333333 0.00000000 1,000.00000000
</TABLE>
<TABLE>
INTEREST
<CAPTION>
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 A-1 8.65% 0.00 0.00 153,215.61 153,215.61 153,215.61 0.00
Class A-2 8.95% 0.00 0.00 82,041.67 82,041.67 82,041.67 0.00
Class A-3 9.00% 0.00 0.00 101,250.00 101,250.00 101,250.00 0.00
Class A-4 9.10% 0.00 0.00 138,775.00 138,775.00 138,775.00 0.00
Total 0.00 0.00 475,282.28 475,282.28 475,282.28 0.00
</TABLE>
<TABLE>
PRINCIPAL
<CAPTION>
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 A-1 21,255,345.43 113,290.77 753,854.07 867,144.84 690,708.66 20,564,636.77 176,436.18
Class A-2 11,000,000.00 0.00 0.00 0.00 0.00 11,000,000.00 0.0
Class A-3 13,500,000.00 0.00 0.00 0.00 0.00 13,500,000.00 0.0
Class A-4 18,300,000.00 0.00 0.00 0.00 0.00 18,300,000.00 0.0
Total 64,055,345.43 113,290.77 753,854.07 867,144.84 690,708.66 63,364,636.77 176,436.18
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 3,568.20 Defaulted Loans During The Related Due Period 218,650.35
Master Servicer Fee 17,100.42 Principal Balance Of All Defaulted
Master Servicer Reimbursement 9,528.57 Mortgage Loans 662,663.55
Trustee Fee 4,559.95 Cram Down Losses 0.00
Priority Expenses 0.00 Excess Interest Paid As Principal 155,504.94
Class Interest Distribution 475,282.28 Required OC Multiple 100.00%
Amounts Owing to Certificate Insurer 36,962.70 Overcollateralization Prior To Allocation Of
Class A Principal Distribution 690,708.66 Distributable Excess Spread 4,499,419.86
Class A Guaranteed Principal Distribution Amount 0.00 Actual Overcollateralization 4,499,419.86
Successor Master Servicer Fee 0.00 Required Overcollateralization 5,976,833.99
Other Fee 0.00 Beginning Collateral Balance 68,399,289.10
Class R Distribution 0.00 Ending Collateral Balance 67,864,056.63
Total Distribution Amount 1,237,710.78
</TABLE>
36
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-2
*****************************************************************************
In accordance with Section 4.01 (c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of December 1, 1994 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 July 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: Jun 1 to Jun 30, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)) -
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: 20-Jun-95 $ 68,399,289.10
----------------
Less: Total Amount of Defaulted
Mortgage Loans: 30-Jun-95 $ 662,692.30
----------------
Adjusted Beginning Aggregate Principal
Balance: $ 67,736,596.80
----------------
Interest due on Mortgage Loans during
the preceding Due Period: $ 695,878.42
----------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 665,127.16
----------------
Principal:
Regular Installments $ 113,262.18
----------------
Curtailments $ 51,651.27
----------------
Full Prepayments $ 370,319.02
----------------
Foreclosures (Claim Funds Received)/Other:
See Explanation $ (28.75)
----------------
(Adjustments to Beginning Balances)
Total Principal Collections: $ 535,203.72
----------------
37
<PAGE>
Defective Mortgage Loans Purchased by Keystone
as June 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
----------------
Mortgage Loans Purchased by Master Servicer
as of the June 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: $ 1,231,082.14
----------------
----------------
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance - Beg Due Period $ 1,789,073.43
----------------
FHA Claims Paid $ 0.00
----------------
FHA Insurance Reduction/Additions $ 1,735,892.50
----------------
FHA Insurance Coverage Balance - End of Due Period $ 3,524,965.93
----------------
FHA Claims Filed $ 27,826.45
----------------
FHA Claim Funds Available from Other Transactions $ 0.00
----------------
38
<PAGE>
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Six Month 2.05%
----------------
Annual Default Percentage - Rolling Twelve Month 1.84%
----------------
Based on 7 Months.
Cumulative Default Percentage 0.94%
----------------
30 Day + Delinquency Percentage 3.26%
----------------
60 Day + Delinquency Percentage 0.98%
----------------
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 218,650.35
----------------
Recoveries on Defaulted Loans during
the prior Due Period (Current): $ 45.20
----------------
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): $ 138.65
----------------
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): $ 3,568.20
----------------
FHA Premiums Collected on Invoiced Loans: $ 25,853.93
----------------
FHA Premiums and Other Charges Due: $ 4,961.83
----------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 8,175.64
----------------
Master Servicer Fee (4.05.a.ii): $ 17,100.42
----------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 31,938.92
----------------
Foreclosure Advances: $ 0.00
----------------
39
<PAGE>
Cumulative Advances made by Master Servicer:
Interest Advances: $ 125,850.21
----------------
Foreclosure Advances: $ 0.00
----------------
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 9,528.57
----------------
Foreclosure Advances: $ 0.00
----------------
Unpaid Principal Balance - Current Loans
30-Jun-95 $ 64,988,119.13
----------------
Certificate Provided By: Date:
----------------------------- ---------
40
<PAGE>
EXHIBIT 8
LEHMAN HOME IMPROVEMENT LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-2
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 8/25/95
<TABLE>
FACTORS (Per $1,000.00 Of Original Certificate Balance)
<CAPTION>
Ending
Interest Principal Certificate
Original Distribution Distribution Balance
Balance Factor Factor Factor
<S> <C> <C> <C> <C>
Class A-1 24,000,000.00 6.17653167 29.33372083 827.52614458
Class A-2 11,000,000.00 7.45833364 0.00000000 1,000.00000000
Class A-3 13,500,000.00 7.50000000 0.00000000 1,000.00000000
Class A-4 18,300,000.00 7.58333333 0.00000000 1,000.00000000
</TABLE>
<TABLE>
INTEREST
<CAPTION>
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>
Class A-1 8.65% 0.00 0.00 148,236.76 148,236.76 148,236.76 0.00
Class A-2 8.95% 0.00 0.00 82,041.67 82,041.67 82,041.67 0.00
Class A-3 9.00% 0.00 0.00 101,250.00 101,250.00 101,250.00 0.00
Class A-4 9.10% 0.00 0.00 138,775.00 138,775.00 138,775.00 0.00
Total 0.00 0.00 470,303.43 470,303.43 470,303.43 0.00
</TABLE>
<TABLE>
PRINCIPAL
<CAPTION>
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 A-1 20,564,636.77 176,436.18 778,061.37 954,497.55 704,009.30 19,860,627.47 250,488.25
Class A-2 11,000,000.00 0.00 0.00 0.00 0.00 11,000,000.00 0.00
Class A-3 13,500,000.00 0.00 0.00 0.00 0.00 13,500,000.00 0.00
Class A-4 18,300,000.00 0.00 0.00 0.00 0.00 18,300,000.00 0.00
Total 63,364,636.77 176,436.18 778,061.37 954,497.55 704,009.30 62,660,627.47 250,488.25
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 3,547.29 Defaulted Loans During The Related Due Period 235,209.48
Master Servicer Fee 16,966.51 Principal Balance Of All Defaulted
Master Servicer Reimbursement 10,352.68 Mortgage Loans 875,064.89
Trustee Fee 4,524.27 Cram Down Losses 0.00
Priority Expenses 0.00 Excess Interest Paid As Principal 176,062.80
Class Interest Distribution 470,303.43 Required OC Multiple 100.00%
Amounts Owing to Certificate Insurer 36,552.03 Overcollateralization Prior to Allocation of
Class A Principal Distribution 704,009.30 Distributable Excess Spread 4,652,674.52
Class A Guaranteed Principal Distribution Amount 0.00 Actual Overcollaterzlization 4,652,674.52
Successor Master Servicer Fee 0.00 Required Overcollaterzlization 5,976,833.99
Other Fee 0.00 Beginning Collateral Balance 67,864,056.63
Class R Distribution 0.00 Ending Collateral Balance 67,313,301.99
Total Distribution Amount 1,246,255.51
</TABLE>
41
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-2
*****************************************************************************
In accordance with Section 4.01(c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of December 1, 1994 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: Jul 1 1995 - Jul 31 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)) -
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: 20-Jul-95 $ 67,864,056.63
----------------
Less: Total Amount of Defaulted
Mortgage Loans: 31-Jul-95 $ 897,873.03
----------------
Adjusted Beginning Aggregate
Principal Balance: $ 66,966,183.60
----------------
Interest due on Mortgage Loans during the
preceding Due Period: $ 688,033.90
----------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 677,381.35
----------------
Principal:
Regular Installments $ 116,855.12
----------------
Curtailments $ 31,281.68
----------------
Full Prepayments $ 402,617.84
----------------
Foreclosures (Claim Funds Received)/
Other: See explanation $ (22,808.14)
----------------
Total Principal Collections: $ 527,946.50
----------------
42
<PAGE>
Defective Mortgage Loans Purchased by Keystone
as of 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
----------------
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: $ 14,905.39
----------------
(ii) Unpaid accrued interest for such
Mortgage Loans with Rejected Claims: $ 1,308.79
----------------
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: $ 1,232,194.58
----------------
----------------
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance - Beg Due Period $ 3,524,965.93
----------------
FHA Claims Paid $ 7,494.28
----------------
FHA Insurance Reduction/Additions $ (0.00)
----------------
FHA Insurance Coverage Balance - End of Due Period $ 3,517,471.65
----------------
FHA Claims Filed $ 19,982.33
----------------
FHA Claim Funds Available from Other Transactions $ 0.00
----------------
43
<PAGE>
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Six Month 2.62%
----------------
Annual Default Percentage - Rolling Twelve Month 2.16%
----------------
Based on 8 Months.
Cumulative Default Percentage 1.28%
----------------
30 Day + Delinquency Percentage 3.55%
----------------
60 Day + Delinquency Percentage 1.14%
----------------
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 235,209.48
----------------
Recoveries on Defaulted Loans during the
prior Due Period (Current): $ 7,715.99
----------------
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): $ 7,854.64
----------------
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) $ 349.84
----------------
Total loans to be foreclosed
(see attached)
# 0 $0.00
---------------------
OTHER:
FHA Premium Account Deposit (4.05.a.1): $ 3,547.29
----------------
FHA Premiums Collected on Invoiced Loans: $ 26,393.93
----------------
FHA Premiums and Other Charges Due: $ 20,753.78
----------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 8,052.51
----------------
Master Servicer Fee (4.05.a.ii): $ 16,966.51
----------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 13,067.48
----------------
Foreclosure Advances: $ 0.00
----------------
44
<PAGE>
Cumulative Advances made by Master Servicer:
Interest Advances: $ 126,431.44
----------------
Foreclosure Advances: $ 0.00
----------------
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 10,280.43
----------------
Foreclosure Advances: $ 72.25
----------------
Unpaid Principal Balance - Current Loans31-Jul-95 $ 64,051,134.34
----------------
Certificate Provided By: Date:
----------------------------- ---------
45
<PAGE>
EXHIBIT 9
LEHMAN HOME IMPROVEMENT LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-2
REVISED CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 9/25/95
<TABLE>
FACTORS (Per $1,000.00 Of Original Certificate Balance)
<CAPTION>
Ending
Interest Principal Certificate
Original Distribution Distribution Balance
Balance Factor Factor Factor
<S> <C> <C> <C> <C>
Class A-1 24,000,000.00 5.96508417 35.62846875 791.89767583
Class A-2 11,000,000.00 7.45833364 0.00000000 1,000.00000000
Class A-3 13,500,000.00 7.50000000 0.00000000 1,000.00000000
Class A-4 18,300,000.00 7.58333333 0.00000000 1,000.00000000
</TABLE>
<TABLE>
INTEREST
<CAPTION>
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 A-1 8.65% 0.00 0.00 143,162.02 143,162.02 143,162.02 0.00
Class A-2 8.95% 0.00 0.00 82,041.67 82,041.67 82,041.67 0.00
Class A-3 9.00% 0.00 0.00 101,250.00 101,250.00 101,250.00 0.00
Class A-4 9.10% 0.00 0.00 138,775.00 138,775.00 138,775.00 0.00
Total 0.00 0.00 465,228.69 465,228.69 465,228.69 0.00
</TABLE>
<TABLE>
PRINCIPAL
<CAPTION>
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 A-1 19,860,627.47 250,488.25 604,595.00 855,083.25 855,083.25 19,005,544.22 0.00
Class A-2 11,000,000.00 0.00 0.00 0.00 0.00 11,000,000.00 0.00
Class A-3 13,500,000.00 0.00 0.00 0.00 0.00 13,500,000.00 0.00
Class A-4 18,300,000.00 0.00 0.00 0.00 0.00 18,300,000.00 0.00
Total 62,660,627.47 250,488.25 604,595.00 855,083.25 855,083.25 61,805,544.22 0.00
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 3,403.97 Defaulted Loans During The Related Due Period 104,418.83
Master Servicer Fee 16,828.39 Principal Balance Of All Defaulted
Master Servicer Reimbursement 5,729.66 Mortgage Loans 759,161.34
Trustee Fee 4,487.55 Cram Down Losses 0.00
Priority Expenses 0.00 Excess Interest Paid As Principal 389,855.14
Class Interest Distribution 465,228.69 Required OC Multiple 100.00%
Amounts Owing to Certificate Insurer 36,053.23 Overcollateralization Prior to Allocation of
Class A Principal Distribution 855,083.25 Distributable Excess Spread 4,787,259.22
Class A Guaranteed Principal Distribution Amount 0.00 Actual Overcollateralization 4,822,207.28
Successor Master Servicer Fee 0.00 Required Overcollateralization 5,976,833.99
Other Fee 0.00 Beginning Collateral Balance 67,313,301.99
Class R Distribution 0.00 Ending Collateral Balance 66,627,751.50
Total Distribution Amount 1,386,814.74
</TABLE>
46
<PAGE>
REVISED 9/27/95 (Repurchases/Substitutions)
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-2
*****************************************************************************
In accordance with Section 4.01(c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of December 1, 1994 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: Aug 1 to Aug 31, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)) -
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: 21-Aug-95 $ 67,313,301.99
----------------
Less: Total Amount of Defaulted Mortgage
Loans: 31-Aug-95 $ 979,483.72
----------------
Adjusted Beginning Aggregate Principal
Balance: $ 66,333,818.27
----------------
Interest due on Mortgage Loans during
the preceding Due Period: $ 681,590.89
----------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 647,981.91
----------------
Principal:
Regular Installments $ 112,263.54
----------------
Curtailments $ (669,320.11)
----------------
Full Prepayments $ 1,242,607.06
----------------
Foreclosures (Claim Funds Received)
/Other: See explanation $ (220,322.38)
----------------
Total Principal Collections: $ 465,228.11
--------------
47
<PAGE>
Defective Mortgage Loans Purchased by Keystone
as 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: $ 15,679.22
----------------
*FUNDS INCLUDED IN REGULAR COLLECTIONS OR DEFAULT MORTGAGE COLLECTIONS
SECTION (SEE ATTACHED SCHEDULE)
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 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: $ 1,146,819.00
----------------
----------------
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance - Beg Due Period $ 3,517,471.65
----------------
FHA Claims Paid $ 102,628.05
----------------
FHA Insurance Reduction/Additions $ 17,444.65
----------------
FHA Insurance Coverage Balance - End of Due Period $ 3,432,288.25
----------------
FHA Claims Filed $ 63,820.51
----------------
FHA Claim Funds Available from Other Transactions $ 0.00
----------------
48
<PAGE>
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Six Month 2.95%
----------------
Annual Default Percentage - Rolling Twelve Month 2.13%
----------------
Based on 9 Months.
Cumulative Default Percentage 1.43%
----------------
30 Day + Delinquency Percentage 4.14%
----------------
60 Day + Delinquency Percentage 1.35%
----------------
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 104,418.83
----------------
Recoveries on Defaulted Loans during the
prior Due Period (Current): $ 232,955.49
----------------
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): $ 240,810.13
----------------
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) $ 2,908.85
----------------
Total loans to be foreclosed
(see attached)
# 0 $0.00
-----------------
OTHER:
FHA Premium Account Deposit (4.05.a.1): $ 3,403.97
----------------
FHA Premiums Collected on Invoiced Loans: $ 25,341.93
----------------
FHA Premiums and Other Charges Due: $ 70,737.60
----------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 8,373.36
----------------
Master Servicer Fee (4.05.a.ii): $ 16,828.39
----------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 38,077.78
----------------
Foreclosure Advances: $ 0.00
----------------
49
<PAGE>
Cumulative Advances made by Master Servicer:
Interest Advances: $ 150,871.11
----------------
Foreclosure Advances: $ 0.00
----------------
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 5,073.87
----------------
Foreclosure Advances: $ 655.79
----------------
Unpaid Principal Balance - Current
Loans 31-Aug-95 $ 63,107,769.01
----------------
Certificate Provided By: Date:
----------------------------- ---------
50
<PAGE>
EXHIBIT 10
LEHMAN HOME IMPROVEMENT LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-2
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 10/25/95
<TABLE>
FACTORS (Per $1,000.00 Of Original Certificate Balance)
<CAPTION> Ending
Interest Principal Certificate
Original Distribution Distribution Balance
Balance Factor Factor Factor
<S> <C> <C> <C> <C>
Class A-1 24,000,000.00 5.70826250 29.59269583 762.30498000
Class A-2 11,000,000.00 7.45833364 0.00000000 1,000.00000000
Class A-3 13,500,000.00 7.50000000 0.00000000 1,000.00000000
Class A-4 18,300,000.00 7.58333333 0.00000000 1,000.00000000
</TABLE>
<TABLE>
INTEREST
<CAPTION> 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 A-1 8.65% 0.00 0.00 136,998.30 136,998.30 136,998.30 0.00
Class A-2 8.95% 0.00 0.00 82,041.67 82,041.67 82,041.67 0.00
Class A-3 9.00% 0.00 0.00 101,250.00 101,250.00 101,250.00 0.00
Class A-4 9.10% 0.00 0.00 138,775.00 138,775.00 138,775.00 0.00
Total 0.00 0.00 459,064.97 459,064.97 459,064.97 0.00
</TABLE>
<TABLE>
PRINCIPAL
<CAPTION>
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 A-1 19,005,544.22 0.00 776,649.00 776,649.00 710,224.70 18,295,319.52 66,424.30
Class A-2 11,000,000.00 0.00 0.00 0.00 0.00 11,000,000.00 0.00
Class A-3 13,500,000.00 0.00 0.00 0.00 0.00 13,500,000.00 0.00
Class A-4 18,300,000.00 0.00 0.00 0.00 0.00 18,300,000.00 0.00
Total 61,805,544.22 0.00 776,649.00 776,649.00 710,224.70 61,095,319.52 66,424.30
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 3,386.24 Defaulted Loans During The Related Due Period 247,553.33
Master Servicer Fee 16,657.17 Principal Ballanace Of All Defaulted Mortgage Loans 971,842.56
Master Servicer Reimbursement 13,442.81 Cram Down Losses 0.00
Trustee Fee 4,441.85 Excess Interest Paid As Principal 181,129.03
Priority Expenses 0.00 Required OC Multiple 100.00%
Class Interest Distribution 459,064.97 Overcollateralization Prior to Allocation of
Amounts Owing to Certificate Insurer 35,638.94 Distributable Excess Spread 4,968,464.20
Class A Principal Distribution 710,224.70 Actual Overcollateralization 4,968,464.20
Class A Guaranteed Principal Distribution Amount 0.00 Required Overcollateralization 5,976,833.99
Successor Master Servicer Fee 0.00 Beginning Collateral Balance 66,627,751.50
Other Fee 0.00 Ending Collateral Balance 66,063,783.72
Class R Distribution 0.00
Total Distribution Amount 1,242,856.68
</TABLE>
51
<PAGE>
REVISED 12/01/95
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-2
*****************************************************************************
In accordance with Section 4.01(c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of December 1, 1994 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: Sep 1 to Sep 30, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)) -
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: 20-Sep-95 $ 66,627,751.50
----------------
Less: Total Amount of Defaulted
Mortgage Loans: 30-Sep-95 $ 1,006,714.67
----------------
Adjusted Beginning Aggregate Principal
Balance: $ 65,621,036.83
----------------
Interest due on Mortgage Loans during the
preceding Due Period: $ 674,598.34
----------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 646,479.89
----------------
Principal:
Regular Installments $ 115,913.15
----------------
Curtailments $ 66,022.93
----------------
Full Prepayments $ 382,031.70
----------------
Foreclosures (Claim Funds Received)/Other:
See explanation $ (34,872.11)
----------------
Total Principal Collections: $ 529,095.67
----------------
52
<PAGE>
Defective Mortgage Loans Purchased by Keystone
as 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
----------------
*FUNDS INCLUDED IN REGULAR COLLECTIONS OR DEFAULT MORTGAGE COLLECTIONS
SECTION (SEE ATTACHED SCHEDULE)
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: $ 1,203,694.01
----------------
----------------
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance - Beg Due Period $ 3,432,288.25
----------------
FHA Claims Paid $ 33,309.55
----------------
FHA Insurance Reduction/Additions $ 2,978.05
----------------
FHA Insurance Coverage Balance - End of Due Period $ 3,401,956.75
----------------
FHA Claims Filed $ 28,948.40
----------------
FHA Claim Funds Available from Other Transactions $ 0.00
----------------
53
<PAGE>
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Six Month 3.55%
----------------
Annual Default Percentage - Rolling Twelve Month 2.37%
----------------
Based on 10 Months.
Cumulative Default Percentage 1.78%
----------------
30 Day + Delinquency Percentage 4.88%
----------------
60 Day + Delinquency Percentage 1.55%
----------------
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 247,553.33
----------------
Recoveries on Defaulted Loans during the prior
Due Period (Current): $ 33,309.55
----------------
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): $ 274,119.68
----------------
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) $ 1,562.56
----------------
Total loans to be foreclosed
(see attached) # 0 $0.00
---------------------
OTHER:
FHA Premium Account Deposit (4.05.a.1): $ 3,386.24
----------------
FHA Premiums Collected on Invoiced Loans: $ 25,114.09
----------------
FHA Premiums and Other Charges Due: $ 74,489.71
----------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 8,866.13
----------------
Master Servicer Fee (4.05.a.ii): $ 16,657.17
----------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 28,437.09
----------------
Foreclosure Advances: $ 0.00
----------------
54
<PAGE>
Cumulative Advances made by Master Servicer:
Interest Advances: $ 173,674.11
----------------
Foreclosure Advances: $ 0.00
----------------
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 13,119.63
----------------
Foreclosure Advances: $ 323.18
----------------
Unpaid Principal Balance - Current Loans30-Sep-95 $ 61,868,689.83
----------------
Certificate Provided By: Date:
----------------------------- ---------
55
<PAGE>
EXHIBIT 11
LEHMAN HOME IMPROVEMENT LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-2
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 11/25/95
<TABLE>
FACTORS (Per $1,000.00 Of Original Certificate Balance)
<CAPTION> Ending
Interest Principal Certificate
Original Distribution Distribution Balance
Balance Factor Factor Factor
<S> <C> <C> <C> <C>
Class A-1 24,000,000.00 5.49494833 28.65483875 733.65014125
Class A-2 11,000,000.00 7.45833364 0.00000000 1,000.00000000
Class A-3 13,500,000.00 7.50000000 0.00000000 1,000.00000000
Class A-4 18,300,000.00 7.58333333 0.00000000 1,000.00000000
</TABLE>
<TABLE>
INTEREST
<CAPTION> 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 A-1 8.65% 0.00 0.00 131,878.76 131,878.76 131,878.76 0.00
Class A-2 8.95% 0.00 0.00 82,041.67 82,041.67 82,041.67 0.00
Class A-3 9.00% 0.00 0.00 101,250.00 101,250.00 101,250.00 0.00
Class A-4 9.10% 0.00 0.00 138,775.00 138,775.00 138,775.00 0.00
Total 0.00 0.00 453,945.43 453,945.43 453,945.43 0.00
</TABLE>
<TABLE>
PRINCIPAL
<CAPTION>
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 A-1 18,295,319.52 66,424.30 1,101,045.21 1,167,469.51 687,716.13 17,607,603.39 479,753.38
Class A-2 11,000,000.00 0.00 0.00 0.00 0.00 11,000,000.00 0.00
Class A-3 13,500,000.00 0.00 0.00 0.00 0.00 13,500,000.00 0.00
Class A-4 18,300,000.00 0.00 0.00 0.00 0.00 18,300,000.00 0.00
Total 61,095,319.52 66,424.30 1,101,045.21 1,167,469.51 687,716.13 60,407,603.39 479,753.38
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 3,362.72 Defaulted Loans During The Related Due Period 568,977.90
Master Servicer Fee 16,515.31 Principal Balance Of All Defaulted Mortgage Loans 1,515,707.57
Master Servicer Reimbursement 26,100.31 Cram Down Losses 0.00
Trustee Fee 4,404.25 Excess Interest Paid As Principal 155,648.82
Priority Expenses 0.00 Required OC Multiple 125.00%
Class Interest Distribution 453,945.43 Overcollateralization Prior to Allocation of
Amounts Owing to Certificate Insurer 35,237.77 Distributable Excess Spread 5,099,000.13
Class A Principal Distribution Amount 687,716.13 Actual Overcollateralization 5,099,000.13
Class A Guaranteed Principal Required Overcollateralization 7,471,042.49
Distribution Amount 0.00 Beginning Collateral Balance 66,063,783.72
Successor Master Servicer Fee 0.00 Ending Collateral Balance 65,506,603.52
Other Fee 0.00
Class R Distribution 0.00
Total Distribution Amount 1,227,281.92
</TABLE>
56
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-2
*****************************************************************************
In accordance with Section 4.01(c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of December 1, 1994 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: Oct 1 to Oct 31, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)) -
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: 20-Oct-95 $ 66,063,783.72
----------------
Less: Total Amount of Defaulted
Mortgage Loans: 31-Oct-95 $ 1,540,820.46
----------------
Adjusted Beginning Aggregate Principal
Balance: $ 64,522,963.26
----------------
Interest due on Mortgage Loans during the
preceding Due Period: $ 663,155.00
----------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 637,173.66
----------------
Principal:
Regular Installments $ 117,659.61
----------------
Curtailments $ 52,965.64
----------------
Full Prepayments $ 386,554.95
----------------
Foreclosures (Claim Funds Received)/Other:
See explanation $ (25,112.89)
----------------
Total Principal Collections: $ 532,067.31
----------------
57
<PAGE>
Defective Mortgage Loans Purchased by Keystone
as 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
----------------
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 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: $ 1,195,222.31
----------------
----------------
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance - Beg Due Period $ 3,401,956.75
----------------
FHA Claims Paid $ 23,786.64
----------------
FHA Insurance Reduction/Additions $ 473,072.95
----------------
FHA Insurance Coverage Balance - End of Due Period $ 3,851,243.06
----------------
FHA Claims Filed $ 28,948.40
----------------
FHA Claim Funds Available from Other Transactions $ 0.00
----------------
58
<PAGE>
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Six Month 4.91%
----------------
Annual Default Percentage - Rolling Twelve Month 3.13%
----------------
Based on 11 Months.
Cumulative Default Percentage 2.57%
----------------
30 Day + Delinquency Percentage 5.12%
----------------
60 Day + Delinquency Percentage 1.72%
----------------
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 568,977.90
----------------
Recoveries on Defaulted Loans during the
prior Due Period (Current): $ 25,058.75
----------------
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): $ 299,178.43
----------------
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) $ 1,190.53
----------------
Total loans to be foreclosed
(see attached) # 0 $0.00
---------------------
OTHER:
FHA Premium Account Deposit (4.05.a.1): $ 3,362.72
----------------
FHA Premiums Collected on Invoiced Loans: $ 24,826.09
----------------
FHA Premiums and Other Charges Due: $ 74,529.15
----------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 9,197.11
----------------
Master Servicer Fee (4.05.a.ii): $ 16,515.31
----------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 29,238.07
----------------
Foreclosure Advances: $ 0.00
----------------
59
<PAGE>
Cumulative Advances made by Master Servicer:
Interest Advances: $ 185,099.31
----------------
Foreclosure Advances: $ 0.00
----------------
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 26,243.43
----------------
Foreclosure Advances: $ (143.12)
----------------
Unpaid Principal Balance - Current Loans 31-Oct-95 $ 60,636,028.48
----------------
Certificate Provided By: Date:
----------------------------- ---------
60
<PAGE>
EXHIBIT 12
LEHMAN HOME IMPROVEMENT LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-2
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 12/25/95
<TABLE>
FACTORS (Per $1,000.00 Of Original Certificate Balance)
<CAPTION> Ending
Interest Principal Certificate
Original Distribution Distribution Balance
Balance Factor Factor Factor
<S> <C> <C> <C> <C>
Class A-1 24,000,000.00 5.28839458 31.61976833 702.03037292
Class A-2 11,000,000.00 7.45833364 0.00000000 1,000.00000000
Class A-3 13,500,000.00 7.50000000 0.00000000 1,000.00000000
Class A-4 18,300,000.00 7.58333333 0.00000000 1,000.00000000
</TABLE>
<TABLE>
INTEREST
<CAPTION> 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 A-1 8.65% 0.00 0.00 126,921.47 126,921.47 126,921.47 0.00
Class A-2 8.95% 0.00 0.00 82,041.67 82,041.67 82,041.67 0.00
Class A-3 9.00% 0.00 0.00 101,250.00 101,250.00 101,250.00 0.00
Class A-4 9.10% 0.00 0.00 138,775.00 138,775.00 138,775.00 0.00
Total 0.00 0.00 448,988.14 448,988.14 448,988.14 0.00
</TABLE>
<TABLE>
PRINCIPAL
<CAPTION>
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 A-1 17,607,603.39 479,753.38 859,382.12 1,339,135.50 758,874.44 16,848,728.95 580,261.06
Class A-2 11,000,000.00 0.00 0.00 0.00 0.00 11,000,000.00 0.00
Class A-3 13,500,000.00 0.00 0.00 0.00 0.00 13,500,000.00 0.00
Class A-4 18,300,000.00 0.00 0.00 0.00 0.00 18,300,000.00 0.00
Total 60,407,603.39 479,753.38 859,382.12 1,339,135.50 758,874.44 59,648,728.95 580,261.06
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 3,319.97 Defaulted Loans During The Related Due Period 270,333.36
Master Servicer Fee 16,376.09 Principal Balance Of All Defaulted Mortgage Loans 1,757,336.85
Master Servicer Reimbursement 14,194.76 Cram Down Losses 0.00
Trustee Fee 4,367.11 Excess Interest Paid As Principal 169,825.68
Priority Expenses 0.00 Required OC Multiple 125.00%
Class Interest Distribution 448,988.14 Overcollateralization Prior to Allocation of
Amounts Owing to Certificate Insurer 34,795.09 Distributable Excess Spread 5,240,121.73
Class A Principal Distribution 758,874.44 Actual Overcollateralization 5,240,121.73
Class A Guaranteed Principal Required Overcollateralization 7,471,042.49
Distribution Amount 0.00 Beginning Collateral Balance 65,506,603.52
Successor Master Servicer Fee 0.00 Ending Collateral Balance 64,888,850.68
Other Fee 0.00
Class R Distribution 0.00
Total Distribution Amount 1,280,915.60
</TABLE>
61
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-2
*****************************************************************************
In accordance with Section 4.01(c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of December 1, 1994 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: Nov 1 to Nov 30, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)) -
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: 20-Nov-95 $ 65,506,603.52
----------------
Less: Total Amount of Defaulted
Mortgage Loans: 30-Nov-95 $ 1,786,040.93
----------------
Adjusted Beginning Aggregate Principal
Balance: $ 63,720,562.59
----------------
Interest due on Mortgage Loans during
the preceding Due Period: $ 654,939.60
----------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 640,701.54
----------------
Principal:
Regular Installments $ 118,999.76
----------------
Curtailments $ 20,219.45
----------------
Full Prepayments $ 478,533.63
----------------
Foreclosures (Claim Funds Received)/Other:
See explanation $ (28,704.08)
----------------
Total Principal Collections: $ 589,048.76
----------------
62
<PAGE>
Defective Mortgage Loans Purchased by Keystone
as 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
----------------
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: $ 1,243,988.36
----------------
----------------
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance - Beg Due Period $ 3,851,243.06
----------------
FHA Claims Paid $ 3,900.12
----------------
FHA Insurance Reduction/Additions $ 71,013.54
----------------
FHA Insurance Coverage Balance - End of Due Period $ 3,918,356.48
----------------
FHA Claims Filed $ 79,127.93
----------------
FHA Claim Funds Available from Other Transactions $ 0.00
----------------
63
<PAGE>
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Six Month 4.96%
----------------
Annual Default Percentage - Rolling Twelve Month 3.29%
----------------
Based on 12 Months.
Cumulative Default Percentage 2.97%
----------------
30 Day + Delinquency Percentage 5.60%
----------------
60 Day + Delinquency Percentage 1.99%
----------------
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 270,333.36
----------------
Recoveries on Defaulted Loans during the
prior Due Period (Current): $ 30,563.75
----------------
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): $ 329,742.18
----------------
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) $ 92.70
----------------
Total loans to be foreclosed
(see attached) # 0 $0.00
---------------------
OTHER:
FHA Premium Account Deposit (4.05.a.1): $ 3,319.97
----------------
FHA Premiums Collected on Invoiced Loans: $ 25,605.35
----------------
FHA Premiums and Other Charges Due: $ 66,252.77
----------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 8,964.23
----------------
Master Servicer Fee (4.05.a.ii): $ 16,376.09
----------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 15,255.97
----------------
Foreclosure Advances: $ 0.00
----------------
64
<PAGE>
Cumulative Advances made by Master Servicer:
Interest Advances: $ 172,938.78
----------------
Foreclosure Advances: $ 0.00
----------------
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 14,173.61
----------------
Foreclosure Advances: $ 21.15
----------------
Unpaid Principal Balance - Current Loans 30-Nov-95 $ 59,500,114.91
----------------
Certificate Provided By: Date:
----------------------------- ---------
65
<PAGE>
EXHIBIT 13
LEHMAN HOME IMPROVEMENT LOAN ASSET-BACKED CERTIFICATES
SERIES 1995-2
CERTIFICATEHOLDER REPORT
DISTRIBUTION DATE: 1/25/96
<TABLE>
FACTORS (Per $1,000.00 Of Original Certificate Balance)
<CAPTION> Ending
Interest Principal Certificate
Original Distribution Distribution Balance
Balance Factor Factor Factor
<S> <C> <C> <C> <C>
Class A-1 24,000,000.00 5.06046875 29.38787958 672.64249333
Class A-2 11,000,000.00 7.45833364 0.00000000 1,000.00000000
Class A-3 13,500,000.00 7.50000000 0.00000000 1,000.00000000
Class A-4 18,300,000.00 7.58333333 0.00000000 1,000.00000000
</TABLE>
<TABLE>
INTEREST
<CAPTION> 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>
Class A-1 8.65% 0.00 0.00 121,451.25 121,451.25 121,451.25 0.00
Class A-2 8.95% 0.00 0.00 82,041.67 82,041.67 82,041.67 0.00
Class A-3 9.00% 0.00 0.00 101,250.00 101,250.00 101,250.00 0.00
Class A-4 9.10% 0.00 0.00 138,775.00 138,775.00 138,775.00 0.00
Total 0.00 0.00 443,517.92 443,517.92 443,517.92 0.00
</TABLE>
<TABLE>
PRINCIPAL
<CAPTION>
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 A-1 16,848,728.95 580,261.06 879,529.68 1,459,790.74 705,309.11 16,143,419.84 754,481.63
Class A-2 11,000,000.00 0.00 0.00 0.00 0.00 11,000,000.00 0.00
Class A-3 13,500,000.00 0.00 0.00 0.00 0.00 13,500,000.00 0.00
Class A-4 18,300,000.00 0.00 0.00 0.00 0.00 18,300,000.00 0.00
Total 59,648,728.95 580,261.06 879,529.68 1,459,790.74 705,309.11 58,943,419.84 754,481.63
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS OTHER INFORMATION
<S> <C> <S> <C>
FHA Premium Account Deposit 3,272.73 Defaulted Loans During The Related Due Period 340,551.90
Master Servicer Fee 16,222.16 Principal Balance Of All Defaulted Mortgage Loans 2,064,238.04
Master Servicer Reimbursement 16,553.01 Cram Down Losses 0.00
Trustee Fee 4,325.92 Excess Interest Paid As Principal 166,331.33
Priority Expenses 0.00 Required OC Multiple 125.00%
Class Interest Distribution 443,517.92 Overcollateralization Prior to Allocation of
Amounts Owing to Certificate Insurer 34,383.66 Distributable Excess Spread 5,372,802.35
Class A Principal Distribution 705,309.11 Actual Overcollateralization 5,372,802.35
Class A Guaranteed Principal Required Overcollateralization 7,471,042.49
Distribution Amount 0.00 Beginning Collateral Balance 64,888,850.68
Successor Master Servicer Fee 0.00 Ending Collateral Balance 64,316,222.19
Other Fee 0.00
Class R Distribution 0.00
Total Distribution Amount 1,223,584.51
</TABLE>
66
<PAGE>
MASTER SERVICER CERTIFICATE
FHA TITLE 1 HOME IMPROVEMENT LOAN
PASS-THROUGH CERTIFICATES, SERIES 1995-2
*****************************************************************************
In accordance with Section 4.01(c) of the Pooling and Servicing Agreement
(FHA Title 1 Loans) (the "Agreement") dated as of December 1, 1994 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: Dec 1 to Dec 31, 1995
DISTRIBUTION AMOUNT:
Mortgage Payments Received (4.03(b)) -
Interest:
Ending Aggregate Principal Balance
of Mortgage Loans as of the preceding
Distribution Date: 20-Dec-95 $ 64,888,850.68
----------------
Less: Total Amount of Defaulted
Mortgage Loans: 31-Dec-95 $ 2,097,888.75
----------------
Adjusted Beginning Aggregate
Principal Balance: $ 62,790,961.93
----------------
Interest due on Mortgage Loans during the
preceding Due Period: $ 645,248.63
----------------
Interest collected on Mortgage Loans during
the preceding Due Period: $ 584,170.59
----------------
Principal:
Regular Installments $ 109,796.91
----------------
Curtailments $ 22,102.83
----------------
Full Prepayments $ 440,728.75
----------------
Foreclosures (Claim Funds Received)/Other:
See explanation $ (33,650.71)
----------------
Total Principal Collections: $ 538,977.78
----------------
67
<PAGE>
Defective Mortgage Loans Purchased by Keystone
as 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
----------------
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: $ 1,184,226.41
----------------
----------------
FHA INSURANCE INFORMATION:
FHA Insurance Coverage Balance - Beg Due Period $ 3,918,356.48
----------------
FHA Claims Paid $ 47,443.83
----------------
FHA Insurance Reduction/Additions $ (0.00)
----------------
FHA Insurance Coverage Balance - End of Due Period $ 3,870,912.65
----------------
FHA Claims Filed $ 382,589.98
----------------
FHA Claim Funds Available from Other Transactions $ 0.00
----------------
68
<PAGE>
DELINQUENCY INFORMATION:
Annual Default Percentage - Rolling Six Month 5.37%
----------------
Annual Default Percentage - Rolling Twelve Month 3.73%
----------------
Based on 12 Months.
Cumulative Default Percentage 3.46%
----------------
30 Day + Delinquency Percentage 6.22%
----------------
60 Day + Delinquency Percentage 2.29%
----------------
DEFAULTED MORTGAGE LOANS:
Total amount of Mortgage Loans which
became Defaulted Mortgage Loans during
the prior Due Period: $ 340,551.90
----------------
Recoveries on Defaulted Loans during the
prior Due Period (Current): $ 33,143.08
----------------
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): $ 362,885.26
----------------
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): $ 1,247.31
----------------
Total loans to be foreclosed
(see attached): # 0 $0.00
------------------
OTHER:
FHA Premium Account Deposit (4.05.a.1): $ 3,272.73
----------------
FHA Premiums Collected on Invoiced Loans: $ 23,855.92
----------------
FHA Premiums and Other Charges Due: $ 7,717.50
----------------
Shortfall in FHA Premium Account Deposits
in respect of Invoiced Mortgage Loans: $ 9,972.50
----------------
Master Servicer Fee (4.05.a.ii): $ 16,222.16
----------------
Total Advances made by Master Servicer with
respect to Distribution Date (3.08(a)):
Interest Advances: $ 61,078.04
----------------
Foreclosure Advances: $ 0.00
----------------
69
<PAGE>
Cumulative Advances made by Master Servicer:
Interest Advances: $ 220,232.54
----------------
Foreclosure Advances: $ 0.00
----------------
Advances made by Master Servicer
entitled to reimbursement (4.05.a.iii):
Amount of Interest Advances
to be reimbursed from unrelated
Mortgage Loans: $ 16,282.98
----------------
Foreclosure Advances: $ 270.03
----------------
Unpaid Principal Balance - Current Loans 31-Dec-95 $ 58,252,431.13
----------------
Certificate Provided By: Date:
----------------------------- ---------
70
