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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
June 25, 1996
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(Date of earliest event reported)
DLJ Mortgage Acceptance Corp.
Mortgage Pass-Through
Certificates, Series 1996-Q1
DLJ Mortgage Acceptance Corp.
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(Exact Name of Registrant as Specified in Charter)
Delaware 33-77722 13-3460894
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(State or Other (Commission (IRS Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
277 Park Avenue
New York, New York 10172
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone
number including area code (212) 892-3000
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Item 7. Financial Statements and Exhibits
(c) Exhibits.
Attached as exhibits are the following monthly reports made available by
Bankers Trust Company, the Trustee, for the June 25, 1996 distribution date.
Exhibit 1. Trustee Payment Statement to
Certificateholders
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DLJ Mortgage Acceptance Corp.
(Registrant)
Date: June 25, 1996 By: /s/ Paul Najarian
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Name: Paul Najarian
Title: Vice President
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EXHIBIT INDEX
The following exhibit is being filed herewith:
EXHIBIT NO. DESCRIPTION
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1. Trustee Payment Statement to Certificateholders
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DLJ Mortgage Acceptance Corp.
Mortgage Pass-Through Certificates
Series 1996-Q1
Statement To Certificateholders
<TABLE>
<CAPTION>
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DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
SA 0.00 0.00 87,364.34 0.00 87,364.34 0.00 0.00 0.00
A-1 34,557,488.00 33,899,068.67 179,382.57 417,687.35 597,069.92 0.00 0.00 33,481,381.32
A-2 4,607,666.00 4,519,876.75 23,917.68 55,691.66 79,609.34 0.00 0.00 4,464,185.09
B-1 1,256,636.00 1,254,620.80 6,639.04 924.76 7,563.80 0.00 0.00 1,253,696.04
B-2 1,466,076.36 1,463,725.29 7,745.55 1,078.89 8,824.44 0.00 0.00 1,462,646.40
SB 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R 0.00 136,265.21 0.00 0.00 0.00 0.00 45,434.09 181,699.30
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TOTALS 41,887,866.36 41,273,556.72 305,049.18 475,382.66 780,431.84 0.00 45,434.09 40,843,608.15
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</TABLE>
<TABLE>
<CAPTION>
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FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
SA 23321PWW4 0.000000 2.085672 0.000000 2.085672 0.000000 2.540058% 2.526462%
A-1 23321PWX2 980.947130 5.190845 12.086739 17.277585 968.860391 6.350000% 6.350000%
A-2 23321PWY0 980.947132 5.190845 12.086740 17.277585 968.860393 6.350000% 6.350000%
B-1 23321PWZ7 998.396353 5.283185 0.735901 6.019086 997.660452 6.350000% 6.350000%
B-2 23321PXA1 998.396352 5.283183 0.735903 6.019086 997.660449 6.350000% 6.350000%
SB 23321PXB9 0.000000 0.000000 0.000000 0.000000 0.000000 1.300000% 1.300000%
R 0.000000 0.000000 0.000000 0.000000 0.000000 6.350000% 6.350000%
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</TABLE>
<TABLE>
<S> <C> <C> <C>
SELLER: Quality Mortgage USA, Inc. ADMINISTRATOR: Leslie A. Gaskill
SERVICER: Temple-Inland Mortgage Corp. Bankers Trust Company
LEAD UNDERWRITER: DLJ Mortgage Securities Corp. 3 Park Plaza
RECORD DATE: May 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: June 25, 1996 FACTOR INFORMATION: (800) 735-7777
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</TABLE>
Page 1 of 4 (c) COPYRIGHT 1996 Bankers Trust Company
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DLJ Mortgage Acceptance Corp.
Mortgage Pass-Through Certificates
Series 1996-Q1
Statement To Certificateholders
<TABLE>
<CAPTION>
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Distribution Date: June 25, 1996
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<S> <C> <C>
SERVICER ADVANCES INCLUDED IN DISTRIBUTION:
SERVICER ADVANCES OUTSTANDING:
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD: 17,197.32
PLUS ADDITIONAL SERVICING FEES:
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17,197.32
LESS PERMITTED REDUCTIONS TO SERVICING FEES: (930.80)
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TOTAL SERVICING FEES DUE MASTER SERVICER: 16,266.52
COLLECTED SERVICING FEES FOR CURRENT PERIOD: 12,061.50
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</TABLE>
<TABLE>
<CAPTION>
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DELINQUENT
LOAN 30-60 61-90 91 +
INFORMATION: DAYS DAYS DAYS TOTAL
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<S> <C> <C> <C> <C>
PRINCIPAL BALANCE 2,347,416.32 853,105.51 149,469.01 3,349,990.84
NUMBER OF LOANS 27 12 3 42
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FORECLOSURE LOAN INFORMATION:
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PRINCIPAL BALANCE 0.00 0.00 417,678.87 417,859.02
NUMBER OF LOANS 0 0 9 9
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BANKRUPTCY LOAN INFORMATION:
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PRINCIPAL BALANCE 0.00 0.00 55,145.40 0.00
NUMBER OF LOANS 0 0 1 0
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</TABLE>
<TABLE>
<S> <C>
STATED PRINCIPAL BALANCE OF REO LOANS: 0.00
NUMBER OF REO LOANS: 0
BOOK VALUE PRINCIPAL BALANCE OF REO LOANS: 0.00
STATED PRINCIPAL BALANCE OF LOANS AS OF THE PRIOR DISTRIBUTION DATE: 41,273,556.72
STATED PRINCIPAL BALANCE OF LOANS AS OF THE CURRENT DISTRIBUTION DATE: 40,843,608.15
NUMBER OF LOANS AS OF THE CURRENT DISTRIBUTION DATE: 532
NUMBER OF LOANS AS OF THE NEXT DISTRIBUTION DATE: 525
WEIGHTED AVERAGE COUPON AS OF THE CURRENT DISTRIBUTION DATE: 10.690058%
WEIGHTED AVERAGE COUPON AS OF THE NEXT DISTRIBUTION DATE: 10.676462%
SENIOR PREPAYMENT PERCENTAGE FOR THE CURRENT DISTRIBUTION: 100.000000%
CLASS B-1 PREPAYMENT PERCENTAGE: 0.000000%
CLASS B-2 PREPAYMENT PERCENTAGE: 0.000000%
AGGREGATE AMOUNT OF PRINCIPAL PREPAYMENTS: 411,404.27
AGGREGATE PRINCIPAL BALANCE OF LOANS WHICH LIQUIDATED: 0.00
PRECEDING MONTH'S PASS-THRU RATE FOR CLASS SA: 6.350000%
PRECEDING MONTH'S PASS-THRU RATE FOR CLASS A-1, A-2, B-1, AND B-2: 2.543830%
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</TABLE>
Page 2 of 4 (c) COPYRIGHT 1996 Bankers Trust Company
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DLJ Mortgage Acceptance Corp.
Mortgage Pass-Through Certificates
Series 1996-Q1
Statement To Certificateholders
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Distribution Date: June 25, 1996
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SENIOR PERCENTAGE FOR THE FOLLOWING DISTRIBUTION: 93.083680%
CLASS A-1 PERCENTAGE FOR THE FOLLOWING DISTRIBUTION: 82.132657%
CLASS A-2 PERCENTAGE FOR THE FOLLOWING DISTRIBUTION: 10.951023%
CLASS B-1 PERCENTAGE FOR THE FOLLOWING DISTRIBUTION: 3.039769%
CLASS B-2 PERCENTAGE FOR THE FOLLOWING DISTRIBUTION: 3.546400%
UNPAID ACCRUED CERTIFICATE INTEREST SHORTFALL REMAINING AFTER DISTRIBUTION:
CLASS SA 0.00
CLASS A-1 0.00
CLASS A-2 0.00
CLASS B-1 0.00
CLASS B-2 0.00
CUMMULATIVE SB ACCRUAL AMOUNT: 180,261.55
SPECIAL HAZARD AMOUNT AVAILABLE AFTER DISTRIBUTION: 1,199,452.00
FRAUD LOSS AMOUNT AVAILABLE AFTER DISTRIBUTION: 1,256,635.99
BANKRUPTCY AMOUNT AVAILABLE AFTER DISTRIBUTION: 100,000.00
AGGREGATE REALIZED LOSSES SINCE CUT-OFF DATE: 0.00
AGGREGATE PRINCIPAL OF REPURCHASED LOANS: 0.00
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Page 3 of 4 (c) COPYRIGHT 1996 Bankers Trust Company
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DLJ Mortgage Acceptance Corp.
Mortgage Pass-Through Certificates
Series 1996-Q1
Statement To Certificateholders
<TABLE>
<CAPTION>
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^Mortgage Loan Liquidation Detail
Distribution Date: June 25, 1996
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Original Cut-Off Current Realized Net Liquidation Liquidation
Loan Number Loan Group Principal Balance Principal Balance Principal Balance Loss Proceeds Date
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<S> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Page 4 of 4 (c) COPYRIGHT 1996 Bankers Trust Company
