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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
Date of Report (Date of earliest event reported): December 15, 1995
Commission file number 33-91148
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PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION
(as depositor under the Pooling & Servicing Agreement, dated as of December 6,
1995, providing for the issuance of
Mortgage Pass-Through Certificates, Series 1995-2)
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION
(Exact name of registrant as specified in its charter)
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<S> <C>
DELAWARE 13-3526694
(State or other jurisdiction (IRS employer
of incorporation) Identification No.)
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ONE SEAPORT PLAZA
NEW YORK, NEW YORK 10292
(Address of principal executive offices)
Registrant's telephone number, including area code: (212)214-1000
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ITEM 5. OTHER EVENTS
Pursuant to the Pooling & Servicing Agreement, dated as of December 6, 1995
(the "Agreement"), among Prudential Securities Secured Financing Corporation
(Depositor), Irwin Home Equity Corporation (Servicer) and The Chase Manhattan
Bank, N.A. (Trustee), the Trustee made required distributions to
Certificateholders and delivered the Trustee Remittance Report to
Certificateholders and others, which report consists of information prepared
and forwarded to the Trustee by the Servicer and which is attached as an
exhibit hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibits (as noted in Item 5 above)
1. -- Trustee Remittance Report forwarded to the Certificateholders
on December 15, 1995.
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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 of the
undersigned, thereunto duly authorized.
The Chase Manhattan Bank, N.A., not in its individual
capacity, but solely as a duly authorized agent of
the Registrant pursuant to the Pooling & Servicing
Agreement, dated as of December 6, 1995.
By: /s/ Regina Bishop
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Regina Bishop,
Second Vice President
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EXHIBIT 1
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PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DEC-14-95 @ 04:40 PM
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-2
P & S AGREEMENT DATE: NOVEMBER 1, 1995
ORIGINAL SETTLEMENT DATE: DECEMBER 6, 1995
ORIGINAL SALE BALANCE: $51,583,721.78
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SERVICER CERTIFICATE (PAGE 1 OF 2)
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<CAPTION>
Distribution Date: 12/15/95
<S> <C>
SERVICER'S REMITTANCE AMOUNT
Interest Collections $ 288,301.99
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Principal Collections $ 488,706.05
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Periodic Advances $ 39,690.85
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Insurance Proceeds $ 0.00
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Loan Repurchase Price $ 0.00
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Substitution Adjustment $ 0.00
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Released Mortgage Property Proceeds $ 0.00
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less:
Servicing Fee $ 12,895.83
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Servicer Remittance Amount $ 803,802.96
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Net Foreclosure Profits $ 0.00
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DISTRIBUTIONS
Certificate Insurance Policy Premium Amount $ 0.00
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Trustee's Fee $ 64.48
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Class A Principal Distribution Amount $ 488,706.05
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Class A Interest Distribution Amount $ 81,631.24
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Certificate Insurer Amount $ 0.00
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Reserve Account Deposit Amount $ 233,401.19
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Class R Certificate Distribution Amount $ 0.00
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Total Distributions $ 803,802.96
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Excess/(Shortfall) 0.00
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Class A Certificate Rate 6.3300%
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Exchangeable Certificate Allocation
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Beginning Class A Certificate Principal Balance $51,583,721.78
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Ending Class A Certificate Principal Balance $51,095,015.73
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Class A Pool Factor .9905260
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Reduction in Class A Certificate Principal Balance 0.00
due to Aggregate Investor Liquidation Loss Amount
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Servicing Fees Distributed $ 12,895.93
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Aggregate Investor Liquidation Loss Amount $ 0.00
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Beginning Pool Balance $51,583,721.78
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Ending Pool Balance $51,095,016.73
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Beginning Additional Balance 0.00
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Ending Additional Balance $ 560,353.07
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Beginning Total Balance $51,583,721.78
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Ending Total Balance $51,655,369.80
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Beginning Number of Accounts 1550
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Ending Number of Accounts 1546
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</TABLE>
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PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION DEC-14-95 @ 04:40 PM
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1995-2
P & S AGREEMENT DATE: NOVEMBER 1, 1995
ORIGINAL SETTLEMENT DATE: DECEMBER 6, 1995
ORIGINAL SALE BALANCE: $51,583,721.78
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SERVICER CERTIFICATE (PAGE 2 OF 2)
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<CAPTION>
Distibution Date 12/15/95
<S> <C> <C>
Delinquency & REO Status
Delinquent 10-29 days % of Trust
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No. of Accounts 6.14% 95
Trust Balances 6.27% $3,201,904.82
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Delinquent 30-59 days
No. of Accounts 0.45% 7
Trust Balances 0.56% $ 285,412.53
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Delinquent 60-89 days
No. of Accounts 0.00% 0
Trust Balances 0.00% $ 0.00
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Delinquent 90+ days
No. of Accounts 0.00% 0
Trust Balances 0.00% $ 0.00
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REO
No. of Accounts 0.00% 0
Trust Balances 0.00% $ 0.00
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<S> <C>
Weighed Average Mortgage Loan Rate: 13.639%
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Net Weighted Average Mortgage Loan Rate: 12.394%
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Weighted Average Term to Stated Maturity 235.74
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Reserve Account
Beginning Reserve Account Balance $2,966,064.00
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Required Reserve Account Level $4,384,616.35
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Available Funds Excess $ 233,401.19
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Application of Available Funds Excess to Reserve Account $ 233,401.19
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Credit Enhancement Distribution Amount $ 0.00
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Insured Payment $ 0.00
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Ending Reserve Account Balance $3,199,465.19
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Ending Reserve Account Balance (% of Orig. Pool Bal.) 6.20%
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Amount Released from Reserve Account $0.00
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Available Credit Enhancement 6.20%
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