<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
and Exchange Act of 1934
Date of Report: 11/18/98
(Date of earliest event reported)
First Union Commercial Mortgage Securities, Inc.
(Exact name of registrant as specified in governing instruments)
North Carolina
(State or other Jurisdiction of Incorporation)
c/o State Street Bank and Trust Company
Corporate Trust Department
Two International Place, 5th Floor
Boston, MA 02110
(Address of Principal Executive Offices) (Zip Code)
(704) 374-6828
(Registrant's telephone number, including area code)
Commission File Number 33-97994
56-1643598 (I.R.S. Employer Identification No.)
Not Applicable
(Former name, former address and former fiscal year if changed
since last report)
<PAGE>
First Union Commercial Mortgage Securities, Inc.
Series 1997-C1
FORM 8-K
INDEX
ITEM DESCRIPTION PAGE NUMBER
Item 5. Other Event 3
Item 7. Financial Statements and
Exhibits 3
Signatures 3
Exhibit A Trustee's Report to
Bondholders 4
<PAGE>
First Union Commercial Mortgage Securities, Inc.
Series 1997-C1
FORM 8-K
ITEMS AND SIGNATURES
ITEMS
Item 5. Other Events
See Exhibit A, the Trustee's Report to Bondholders attached hereto.
Item 7. Financial Statements and Exhibits
See Exhibit A, the Trustee's Report to Bondholders attached hereto.
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934,
the registrar has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
First Union Commercial Mortgage Securities, Inc.
Series 1997-C1
(Registrant)
Date: 11/18/98
By:
Name: David Shepherd
Title: Assistant Secretary
State Street Bank and Trust Company
as Trustee
<PAGE>
<TABLE>
<CAPTION>
{LOGO FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C1
B233 PAYMENT DATE: NOVEMBER 18, 1998
RECORD DATE: OCTOBER 31, 1998
SUMMARY OF AVAILABLE
DELIVERY
NAME OF REPORT OR FILE PREPARER FREQUENCY VEHICLES:
- ----------------------------------- ---------------- ------- -----------
<S> <C> <C> <C>
Distribution Date Statement Trustee Monthly Web, Street
Loan Schedule Trustee Monthly Web, Street
Loan Portfolio Stratifications Trustee Monthly Web, Street
CSSA Periodic Loan Update File Trustee Monthly Web
Delinquent Loan Status Servicer Monthly Web, Street
Comparative Financial Report Special Servicer Monthly Web
Operating Statement Analysis Report Special Servicer Quarterly Upon Request
NOI Adjustment Worksheet Special Servicer Annually Upon Request
REO Status Report Special Servicer Monthly Web, Street
Watch List Report Special Servicer Monthly Web, Street
Historical Modification Report Special Servicer Monthly Web, Street
Historical Liquidation Report Special Servicer Monthly Web, Street
STATE STREET INFORMATION DELIVERY VEHICLES
- ------------------------------------------
Web Site: http://corporatetrust.statestreet.com
Street Fax: (617) 664-5600
To sign up for a Street Fax account: (617) 664-5430
Street Connections (factors and rates): (617) 664-5500
For other information delivery requests: [email protected]
DEAL-SPECIFIC CONTACTS
- --------------------------------------------------
Account Officer (trustee and paying agent David Shepherd (617) 664-5473
Bond Analyst (analytics and collateral questions): Dan Spillane (617) 664-5447
Servicer First Union National Bank (800) 326-1334
Special Servicer CRIIMI Mae Services LP (301) 816-2300
</TABLE>
Page 1 of 5
<PAGE>
<TABLE>
<CAPTION>
[LOGO] FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C1
B233
PAYMENT DATE: NOVEMBER 18, 1998
TRUSTEE REPORT TO CERTIFICATEHOLDERS RECORD DATE: OCTOBER 31, 1998
PAYMENT SUMMARY
- ------------------------------------------------------------------------------------------------------------------------------------
Pass-Through Interest Original Moody's Original Beginning Principal Class Interest
Class CUSIP Rate Type Rating Balance Balance Distrib. Amount Distribution Amt
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 33736LAA3 7.150000% Fixed Aaa 200,000,000.00 181,372,369.04 1,145,096.81 1,080,677.03
A-2 33736LAB1 7.300000% Fixed Aaa 318,000,000.00 318,000,000.00 0.00 1,934,500.00
A-3 33736LAC9 7.380000% Fixed Aaa 395,812,000.00 395,812,000.00 0.00 2,434,243.80
B 33736LAE5 7.430000% Fixed Aa2 78,327,000.00 78,327,000.00 0.00 484,974.68
C 33736LAF2 7.440000% Fixed A2 71,800,000.00 71,800,000.00 0.00 445,160.00
D 33736LAG0 7.500000% Fixed Baa2 71,800,000.00 71,800,000.00 0.00 448,750.00
E 33736LAH8 7.750000% Fixed Baa3 19,582,000.00 19,582,000.00 0.00 126,467.08
F 33736LAJ4 7.000000% Fixed N/A 71,800,000.00 71,800,000.00 0.00 418,833.33
G 33736LAK1 7.000000% Fixed N/A 13,054,813.00 13,054,813.00 0.00 76,153.08
H 33736LAL9 7.000000% Fixed N/A 26,108,964.00 26,108,964.00 0.00 152,302.29
J 33736LAM7 7.000000% Fixed N/A 13,054,483.00 13,054,483.00 0.00 76,151.15
K 33736LAN5 7.000000% Fixed N/A 26,108,964.00 26,108,964.00 0.00 151,716.08
IO 33736LAD7 1.304854% Variable Aaa 1,305,448,224.00 1,286,820,593.04 0.00 1,399,260.83
R N/A N/A 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS: 1,305,448,224.00 1,286,820,593.04 1,145,096.81 9,229,189.35
---------------------------------------------------------------------
*IO CERTIFICATE IS BASED ON A NOTIONAL
TRUSTEE REPORT TO CERTIFICATEHOLDERS
PAYMENT SUMMARY
- -------------------------------------------
Total P&I Ending
Class Payable Balance
- -------------------------------------------
<S> <C> <C>
A-1 2,225,773.84 180,227,272.23
A-2 1,934,500.00 318,000,000.00
A-3 2,434,243.80 395,812,000.00
B 484,974.68 78,327,000.00
C 445,160.00 71,800,000.00
D 448,750.00 71,800,000.00
E 126,467.08 19,582,000.00
F 418,833.33 71,800,000.00
G 76,153.08 13,054,813.00
H 152,302.29 26,108,964.00
J 76,151.15 13,054,483.00
K 151,716.08 26,108,964.00
IO 1,399,260.83 1,285,675,496.23
R 0.00 0.00
- -------------------------------------------
10,374,286.16 1,285,675,496.23
- -------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS PER CERTIFICATE
- ---------------------------------------------------------------------------------
Beginning Principal Interest Ending
Class Certificate Distribution(1) Distribution(1) Certificate Factor
- ---------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
A-1 0.90686185 5.7254841 5.4033852 0.9011364
A-2 1.00000000 0.0000000 6.0833333 1.0000000
A-3 1.00000000 0.0000000 6.1500000 1.0000000
B 1.00000000 0.0000000 6.1916667 1.0000000
C 1.00000000 0.0000000 6.2000000 1.0000000
D 1.00000000 0.0000000 6.2500000 1.0000000
E 1.00000000 0.0000000 6.4583333 1.0000000
F 1.00000000 0.0000000 5.8333333 1.0000000
G 1.00000000 0.0000000 5.8333333 1.0000000
H 1.00000000 0.0000000 5.8333333 1.0000000
J 1.00000000 0.0000000 5.8333333 1.0000000
K 1.00000000 0.0000000 5.8108808 1.0000000
IO * 0.98573085 0.0000000 1.0718624 0.9848537
R 0.00000000 0.0000000 0.0000000 0.0000000
(1) represents net payment per certificate
- --------------------------------------------------------------------------------
</TABLE>
STATE STREET DISCLAIMER NOTICE: This report has been prepared by or based on
information furnished to State Street Serving shall not have and does not
undertake responsibility for the accuracy or completeness of information
thereof or the sufficiency thereof for any particular purpose. State Street
has not independently verified information received from third parties, and
shall have no liability for any inaccuracies therein or caused thereby.
Page 2 of 5
<PAGE>
[LOGO] FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C1
B233
<TABLE>
<CAPTION>
PAYMENT DATE: NOVEMBER 18, 1998
TRUSTEE REPORT TO CERTIFICATE HOLDERS RECORD DATE: OCTOBER 31, 1998
PRINCIPAL DETAIL
- -----------------------------------------------------------------------------------------------------------------
Beginning Principal Realized Appraisal Reimbrs Add Trust Ending
Class Balance Distribution Losses Reduction Amts Exp/Realzd Losses Balance
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 181,372,369.04 1,145,096.81 0.00 0.00 0.00 180,227,272.23
A-2 318,000,000.00 0.00 0.00 0.00 0.00 318,000,000.00
A-3 395,812,000.00 0.00 0.00 0.00 0.00 395,812,000.00
B 78,327,000.00 0.00 0.00 0.00 0.00 78,327,000.00
C 71,800,000.00 0.00 0.00 0.00 0.00 71,800,000.00
D 71,800,000.00 0.00 0.00 0.00 0.00 71,800,000.00
E 19,582,000.00 0.00 0.00 0.00 0.00 19,582,000.00
F 71,800,000.00 0.00 0.00 0.00 0.00 71,800,000.00
G 13,054,813.00 0.00 0.00 0.00 0.00 13,054,813.00
H 26,108,964.00 0.00 0.00 0.00 0.00 26,108,964.00
J 13,054,483.00 0.00 0.00 0.00 0.00 13,054,483.00
K 26,108,964.00 0.00 0.00 0.00 0.00 26,108,964.00
IO * 1,286,820,593.04 0.00 0.00 0.00 0.00 1,285,675,496.23
R 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------
TOTALS: 1,286,820,593.04 1,145,096.81 0.00 0.00 0.00 1,285,675,496.23
---------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
INTEREST DETAIL
- -----------------------------------------------------------------------------------------------------------------
Accrued Excess Prepaymt Distributable Current Payment to Class Interest
Certificate Interest Certifcate Unpaid Unpaid Dist
Class Interest Shortfalls Interest Interest Interest Amount
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 1,080,677.03 0.00 1,080,677.03 0.00 0.00 1,080,677.03
A-2 1,934,500.00 0.00 1,934,500.00 0.00 0.00 1,934,500.00
A-3 2,434,243.80 0.00 2,434,243.80 0.00 0.00 2,434,243.80
B 484,974.68 0.00 484,974.68 0.00 0.00 484,974.68
C 445,160.00 0.00 445,160.00 0.00 0.00 445,160.00
D 448,750.00 0.00 448,750.00 0.00 0.00 448,750.00
E 126,467.08 0.00 126,467.08 0.00 0.00 126,467.08
F 418,833.33 0.00 418,833.33 0.00 0.00 418,833.33
G 76,153.08 0.00 76,153.08 0.00 0.00 76,153.08
H 152,302.29 0.00 152,302.29 0.00 0.00 152,302.29
J 76,151.15 0.00 76,151.15 0.00 0.00 76,151.15
K 152,302.29 0.00 152,302.29 586.21 0.00 151,716.08
IO * 1,399,260.83 0.00 1,399,260.83 0.00 0.00 1,399,260.83
R 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------
TOTALS: 9,229,775.56 0.00 9,229,775.56 586.21 0.00 9,229,189.35
- -----------------------------------------------------------------------------------------------------------------
INTEREST DETAIL
- ----------------------------------------------------
Prepymt Prems/ Ending Balance
Class YMC Unpaid Interest
- ----------------------------------------------------
<S> <C> <C>
A-1 0.00 0.00
A-2 0.00 0.00
A-3 0.00 0.00
B 0.00 0.00
C 0.00 0.00
D 0.00 0.00
E 0.00 0.00
F 0.00 0.00
G 0.00 0.00
H 0.00 0.00
J 0.00 0.00
K 0.00 11,389.32
IO * 0.00 0.00
R 0.00 0.00
- ----------------------------------------------------
0.00 11,389.32
- ----------------------------------------------------
</TABLE>
Page 3 of 5
<PAGE>
[LOGO] FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C1
B233
<TABLE>
<CAPTION>
PAYMENT DATE: NOVEMBER 18, 1998
TRUSTEE REPORT TO CERTIFICATEHOLDERS RECORD DATE: OCTOBER 31, 1998
MORTGAGE LOAN ACTIVITY FOR RELATED PAYMENT DATE:
- ------------------------------------------------------------------------------------------------------------------------------------
# of Mortgage Weighted Avr. Remain Weighted Average Beg. Agg Stated Ending Agg Stated Ending Unpaid Available
Loans Outs Term to Maturity Mortgage Rate Principal Balance Principal Balance Principal Balance Distribution Amt
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
280 113.03 8.75916% 1,286,820,958.38 1,285,675,861.57 1,285,776,900.34 10,374,286.16
- ------------------------------------------------------------------------------------------------------------------------------------
Current Current Additional Principal
Realized Losses Trust Fund Exp # of Payoffs Prepayments
- -----------------------------------------------------------------------------
$0.00 439.30 0.00 0.00
- -----------------------------------------------------------------------------
<CAPTION>
APPRAISAL REDUCTION INFORMATION:
- ------------------------------------------------------------------------------------------------
LOAN # SPB OF APR RED LOAN ALL UNPD INT & FEES APPRAISED VALUE P&I ADV. ON LOAN
- ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
N/A 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------
<CAPTION>
AGGREGATE DELINQUENCY INFORMATION FOR RELATED PAYMENT DATE:
---------------------------------------------------------------------------------
One Month Two Months 3 Months + Foreclosures
- ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
# of Loans 0 0 0 0
- ------------------------------------------------------------------------------------------------
Agg Prin Balance 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------
<CAPTION>
REO PROPERTY WITH FINAL RECOVERY DETERMINATION:
- ------------------------------------------------------------------------------------------------
Mortgage Basis for final All Proceeds Portion Proceeds Amount of
Loan # Recovery Determination Received to Certificates Realized Loss
- ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
N/A N/A N/A N/A N/A
- ------------------------------------------------------------------------------------------------
N/A N/A N/A N/A N/A
- ------------------------------------------------------------------------------------------------
<CAPTION>
LIQUIDATED MORTGAGE LOANS: (OTHER THAN PREPAYMENTS IN FULL)
- ------------------------------------------------------------------------------------------------
Loan Nature of Liquidation Portion of Proceeds Amount of
# Liquidation Event Proceeds Payable to Cert. Realized Loss
- ------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
N/A N/A N/A N/A N/A
- ------------------------------------------------------------------------------------------------
N/A N/A N/A N/A N/A
- ------------------------------------------------------------------------------------------------
</TABLE>
Page 4 of 5
<PAGE>
[LOGO] FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-C1
B233
<TABLE>
<CAPTION>
PAYMENT DATE: NOVEMBER 18, 1998
TRUSTEE REPORT TO CERTIFICATEHOLDERS RECORD DATE: OCTOBER 31, 1998
SUBORDINATE LEVEL AND MATURITY
- ----------------------------------------------------------------------------------------------------
Original Subordinate Current Subordinate Original Class Maturity
Class Support Percentage Support Percentage @ 0% CPR
- ----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
A-1 30.00% 30.46% February 18, 2004
A-2 30.00% 30.46% December 18, 2006
A-3 30.00% 30.46% April 18, 2007
B 24.00% 24.37% April 18, 2007
C 18.50% 18.78% April 18, 2007
D 13.00% 13.20% October 18, 2008
E 11.50% 11.68% August 18, 2009
F 6.00% 6.09% December 18, 2014
G 5.00% 5.08% December 18, 2016
H 3.00% 3.05% May 18, 2017
J 2.00% 2.03% March 18, 2020
K 0.00% 0.00% April 18, 2027
IO * N/A N/A April 18, 2027
R N/A N/A N/A
- ----------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
P&I ADVANCE & FEE INFORMATION LOAN PREPAYMENT
- -------------------------------------------------- ------------------------------------------------
Advances: Loan # Amount of Prepayment
<S> <C> <C> <C>
- Current P&I $949,134.25 N/A N/A
- Outstanding P&I $949,134.25 N/A N/A
- Servicing $0.00 N/A N/A
- Nonrecoverable P&I $0.00 N/A N/A
Interest on: NA N/A
- P&I Advances $149.36 Total 0.00
- Servicing Advances $149.36 ------------------------------------------------
Servicing Compensation:
- to Master Servicer $43,100.27
- to Special Servicer $43,539.57
</TABLE>
Page 5 of 5
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: NOVEMBER 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT ID B233-04
LOAN LEVEL DETAIL
- ------------------------------------------------------------------------------------------------------------------------------------
Offer Property Transfer Maturity Neg Am Ending Note Sched Prepay/ Prepay
Control# Type Date State Date (Y/N) Sched Bal Rate P&I Liquid Date
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 Retail CA 20170401 N 33,078,619 8.550 258,071.10 0.00
2 Multifamily NJ 20270401 N 29,625,895 8.420 228,975.31 0.00
3 Retail MD 20070101 N 28,367,231 8.750 231,008.68 0.00
4 Retail PA 20070401 N 23,691,375 8.625 190,418.48 0.00
5 Multifamily IN 20070401 N 21,963,079 8.250 167,156.82 0.00
6 Retail GA 20070201 N 20,856,125 8.840 167,558.14 0.00
7 Retail AL 20081001 N 19,713,855 9.224 164,158.40 0.00
8 Multifamily PA 20120401 N 18,773,945 8.657 148,212.84 0.00
9 Multifamily MD 20040301 N 18,152,786 8.320 139,139.57 0.00
10 Multifamily PA 20061201 N 16,225,364 7.992 120,979.15 0.00
11 Hotel IL 20040301 N 14,238,153 9.375 125,428.38 0.00
12 Multifamily MD 20070301 N 13,807,417 8.200 104,685.62 0.00
13 Office Va 20070101 N 13,561,592 8.740 108,073.12 0.00
14 Retail FL 20061201 N 13,244,842 8.440 102,847.48 0.00
15 Retail MA 20070401 N 13,143,422 8.710 104,251.42 0.00
16 Office CA 20070301 N 12,593,006 9.230 118,894.27 0.00
17 Multifamily FL 20061101 N 12,793,756 8.475 99,728.51 0.00
19 Retail PA 20070201 N 11,274,115 8.840 90,576.25 0.00
20 Retail CO 20070401 N 11,049,792 8.050 82,572.35 0.00
21 Multifamily IL 20040401 N 10,760,543 8.290 82,194.77 0.00
22 Multifamily CA 20070401 N 9,458,106 8.570 74,091.26 0.00
23 Retail FL 20031201 N 9,353,035 8.368 72,159.93 0.00
24 Multifamily TN 20061201 N 9,348,136 8.200 71,036.67 0.00
25 Hotel VA 20191101 N 9,237,571 9.250 83,225.42 0.00
26 Multifamily FL 20070101 N 9,162,389 8.350 70,522.67 0.00
27 Multifamily TX 20040401 N 8,986,072 8.400 69,327.23 0.00
28 Multifamily FL 20070201 N 8,969,746 8.500 69,925.09 0.00
29 Retail IL 20061201 N 8,401,681 8.474 75,790.61 0.00
30 Multifamily TX 20061101 N 8,417,640 8.600 66,349.00 0.00
31 Multifamily MO 20070301 N 8,141,104 8.410 62,909.90 0.00
32 Multifamily FL 20070101 N 7,816,868 8.625 61,663.17 0.00
33 Multifamily NC 20040301 N 7,727,853 8.000 57,527.15 0.00
34 Multifamily FL 20070101 N 7,684,585 8.350 59,148.04 0.00
35 Hotel MA 20040501 N 7,576,347 9.400 66,740.17 0.00
36 Retail AZ 20040101 N 7,605,548 8.610 59,916.39 0.00
37 Health Care MT 20070401 N 7,605,300 8.490 59,151.78 0.00
38 Retail MD 20070401 N 7,604,793 8.463 59,004.55 0.00
39 Multifamily GA 20070101 N 7,481,456 8.080 56,190.54 0.00
40 Multifamily CA 20070401 N 7,444,776 8.570 58,319.59 0.00
41 Hotel VA 20191101 N 7,292,819 9.250 65,704.28 0.00
42 Office CA 20070301 N 7,258,760 8.720 57,665.07 0.00
43 Retail CO 20061201 N 7,097,085 8.770 56,745.31 0.00
44 Retail AZ 20040401 N 7,018,391 8.830 56,261.89 0.00
45 Retail AZ 20070201 N 6,884,047 9.000 57,618.78 0.00
46 Retail FL 20070401 N 6,742,068 9.000 57,484.95 0.00
47 Multifamily SC 20040301 N 6,666,776 8.000 49,628.36 0.00
48 Retail AZ 20040401 N 6,673,646 8.910 53,875.48 0.00
49 Retail IL 20070101 N 6,581,527 8.800 54,856.21 0.00
50 Retail NE 20070101 N 6,549,460 8.240 49,912.49 0.00
51 Multifamily TN 20061101 N 6,545,424 8.520 51,227.03 0.00
52 Retail LA 20120201 N 6,164,404 8.910 66,185.13 0.00
53 Multifamily TX 20040401 N 6,365,673 8.180 48,139.65 0.00
54 Multifamily TX 20040201 N 6,308,679 8.280 48,216.11 0.00
55 Retail MI 20070201 N 6,267,799 8.860 53,096.34 0.00
56 Multifamily SC 20040301 N 6,243,080 8.000 46,474.31 0.00
57 Retail FL 20040401 N 6,016,717 8.850 49,653.00 0.00
58 Retail AZ 20031101 N 6,028,819 8.905 48,809.19 0.00
59 Retail OK 20070401 N 6,032,774 9.040 49,257.65 0.00
60 Multifamily TX 20070201 N 6,017,301 8.540 47,076.76 0.00
61 Retail WA 20040101 N 5,967,809 8.875 50,669.85 0.00
62 Office TX 20040401 N 5,894,228 9.180 51,093.40 0.00
63 Multifamily AZ 20220201 N 5,898,400 8.600 47,500.43 0.00
65 Retail SC 20070101 N 5,818,506 8.750 48,917.55 0.00
66 Multifamily NC 20040301 N 5,756,462 8.000 42,851.86 0.00
67 Retail CT 20070301 N 5,725,679 8.560 44,843.84 0.00
68 Hotel NJ 20070401 N 5,690,715 9.375 49,955.10 0.00
69 Retail FL 20070401 N 5,632,906 9.000 46,718.44 0.00
70 Office PA 20070401 N 5,596,430 8.990 47,795.17 0.00
71 Self Storage NM 20061001 N 5,523,633 9.560 49,599.72 0.00
72 Hotel KY 20010801 N 5,519,388 9.625 49,855.69 0.00
73 Retail AZ 20120401 N 5,534,856 8.770 44,135.24 0.00
74 Multifamily NC 20040301 N 5,519,895 8.000 41,090.82 0.00
75 Retail NJ 20070401 N 5,414,541 9.030 44,171.32 0.00
76 Retail NC 20070401 N 5,312,759 8.875 44,855.27 0.00
77 Mobile Home CO 20070301 N 5,327,590 8.330 40,872.50 0.00
78 Hotel FL 20070401 N 5,276,845 9.375 46,322.00 0.00
79 Office FL 20070301 N 5,237,031 8.940 42,416.39 0.00
80 Retail AZ 20120401 N 5,221,082 8.978 42,400.52 0.00
81 Retail MD 20111201 N 4,928,078 8.249 51,414.36 0.00
82 Retail NC 20070101 N 5,142,747 8.875 42,318.30 0.00
83 Multifamily TX 20031201 N 5,118,161 8.280 39,175.59 0.00
84 Hotel CO 20040501 N 5,067,297 9.400 44,637.90 0.00
85 Multifamily KY 20070401 N 5,088,397 8.630 40,074.50 0.00
86 Hotel PA 20040501 N 4,999,018 9.400 45,195.80 0.00
87 Hotel VA 20170401 N 4,961,730 9.250 46,709.21 0.00
88 Multifamily TX 20031201 N 5,019,735 8.280 38,422.21 0.00
89 Multifamily AL 20040301 N 4,928,478 8.000 36,688.23 0.00
91 Hotel NJ 20070201 N 4,862,755 9.000 43,558.72 0.00
92 Retail FL 20040101 N 4,875,618 8.750 39,704.62 0.00
93 Multifamily MS 20040301 N 4,810,194 8.000 35,807.72 0.00
94 Retail CO 20070401 N 4,797,771 8.970 38,935.60 0.00
95 Retail TX 20040401 N 4,794,697 8.870 38,571.39 0.00
96 Multifamily TX 20040301 N 4,737,205 8.000 35,264.38 0.00
97 Multifamily VA 20040301 N 4,731,339 8.000 35,220.70 0.00
98 Multifamily TX 20040101 N 4,675,766 8.070 35,085.89 0.00
100 Retail CA 20160301 N 4,460,083 8.442 40,890.45 0.00
101 Mobile Home ME 20020201 N 4,548,632 10.500 42,535.38 0.00
102 Retail GA 20070401 N 4,455,257 8.530 34,696.83 0.00
103 Hotel GA 20061101 N 4,273,712 9.750 40,536.88 0.00
104 Hotel TN 20070401 N 4,305,235 9.375 37,792.87 0.00
105 Retail TX 20120101 N 4,115,953 8.690 43,819.97 0.00
106 Self Storage CA 20070401 N 4,269,823 8.900 36,207.62 0.00
107 Retail MO 20070401 N 4,173,071 9.014 35,706.60 0.00
108 Multifamily TX 20070201 N 4,110,614 8.670 34,302.07 0.00
109 Retail CA 20070101 N 4,110,756 9.000 35,246.25 0.00
110 Multifamily FL 20061101 N 4,086,070 8.625 32,278.27 0.00
111 Retail TX 20070201 N 4,049,573 9.030 33,078.07 0.00
112 Multifamily TX 20070101 N 4,041,325 8.520 31,583.59 0.00
113 Retail IL 20070101 N 4,008,106 8.660 33,457.55 0.00
114 Office AZ 20070401 N 3,955,829 9.030 32,271.29 0.00
115 Retail FL 20070401 N 3,954,662 8.900 31,897.51 0.00
116 Multifamily TX 20070301 N 3,953,232 9.020 32,242.48 0.00
117 Multifamily NY 20170401 N 3,871,502 8.550 34,839.62 0.00
118 Multifamily AL 20061001 N 3,937,755 8.800 31,610.97 0.00
119 Hotel FL 20070401 N 3,796,124 9.375 36,035.36 0.00
120 Multifamily TX 20061201 N 3,791,962 8.500 29,603.17 0.00
121 Retail AL 20070101 N 3,770,827 8.625 30,387.62 0.00
122 Multifamily TX 20040301 N 3,750,822 8.510 29,245.65 0.00
123 Multifamily AZ 20040101 N 3,713,085 8.530 30,675.49 0.00
124 Multifamily MA 20070401 N 3,728,939 8.530 29,106.78 0.00
125 Hotel GA 20070401 N 3,690,343 9.375 32,395.12 0.00
126 Multifamily NC 20061101 N 3,693,636 8.750 29,501.27 0.00
127 Multifamily VA 20061101 N 3,667,221 8.590 28,879.96 0.00
128 Retail FL 20070101 N 3,649,301 8.740 29,081.49 0.00
129 Multifamily AZ 20061101 N 3,644,388 8.750 29,107.92 0.00
130 Retail GA 20111201 N 3,462,020 8.740 37,082.61 0.00
131 Retail NC 20070101 N 3,560,243 8.650 29,695.43 0.00
132 Hotel DE 20070401 N 3,526,720 9.250 33,200.17 0.00
133 Hotel MA 20070401 N 3,547,459 9.375 31,140.84 0.00
134 Health Care CA 20070301 N 3,523,804 8.370 28,673.48 0.00
135 Multifamily CT 20040401 N 3,511,540 9.125 28,883.97 0.00
136 Multifamily CA 20070301 N 3,506,194 8.750 27,927.86 0.00
137 Hotel GA 20070401 N 3,448,918 9.375 30,275.82 0.00
138 Hotel PA 20070401 N 3,446,228 9.125 29,672.05 0.00
139 Retail TX 20040201 N 3,454,028 8.700 27,409.62 0.00
140 Multifamily MO 20111201 N 3,445,077 8.295 26,405.14 0.00
141 Hotel CA 20191101 N 3,405,013 9.375 30,957.50 0.00
142 Hotel FL 20070201 N 3,397,270 9.680 30,663.96 0.00
143 Retail CA 20120401 N 3,381,329 8.412 27,576.07 0.00
144 Multifamily VA 20040301 N 3,344,511 8.000 24,896.98 0.00
145 Office NJ 20070301 N 3,309,855 9.125 27,826.83 0.00
146 Office SC 20070101 N 3,255,236 9.250 30,883.03 0.00
147 Retail MA 20070301 N 3,283,195 8.750 27,541.81 0.00
148 Retail FL 20031201 N 3,272,674 8.780 27,610.13 0.00
149 Retail TX 20070301 N 3,270,630 8.720 27,371.05 0.00
150 Multifamily TX 20120301 N 3,260,478 8.900 26,315.45 0.00
151 Retail CA 20040101 N 3,254,578 8.645 25,712.65 0.00
152 Multifamily NY 20070101 N 3,252,072 8.445 25,245.63 0.00
153 Hotel LA 20070201 N 3,212,806 9.375 29,100.04 0.00
154 Multifamily TX 20040301 N 3,203,691 8.020 23,892.68 0.00
155 Mobile Home VA 20061201 N 3,121,153 8.360 25,466.07 0.00
156 Multifamily AR 20061101 N 3,122,660 8.782 26,378.20 0.00
157 Self Storage CO 20061001 N 3,127,288 9.460 27,869.37 0.00
158 Retail MD 20111201 N 2,975,443 8.249 31,042.63 0.00
159 Multifamily UT 20261101 N 3,106,158 8.600 24,483.17 0.00
160 Multifamily CO 20070201 N 3,079,745 8.790 24,634.24 0.00
161 Office TX 20070401 N 3,046,731 9.340 26,740.62 0.00
162 Retail TX 20070301 N 3,038,278 8.760 25,507.52 0.00
163 Multifamily TX 20070201 N 3,056,712 8.390 23,595.08 0.00
164 Industrial TX 20120101 N 2,932,237 9.250 32,162.26 0.00
165 Multifamily FL 20070401 N 3,040,516 8.280 23,204.00 0.00
166 Industrial FL 20040401 N 3,014,956 8.832 24,173.21 0.00
167 Multifamily MN 20220101 N 3,013,370 9.400 25,423.82 0.00
168 Retail PA 20070101 N 2,932,508 8.636 24,432.38 0.00
169 Retail KS 20070301 N 2,938,201 8.738 23,378.84 0.00
170 Retail FL 20070401 N 2,867,653 8.980 23,292.34 0.00
171 Multifamily NY 20070301 N 2,853,609 8.625 23,008.90 0.00
172 Multifamily NV 20040101 N 2,834,082 8.570 23,488.54 0.00
173 Multifamily NJ 20070201 N 2,807,789 9.350 24,064.13 0.00
174 Multifamily TX 20040401 N 2,805,416 8.540 21,917.70 0.00
175 Retail MD 20111101 N 2,684,331 8.938 29,154.42 0.00
176 Multifamily GA 20220301 N 2,739,619 8.250 22,076.60 0.00
177 Multifamily AL 20040301 N 2,735,305 8.000 20,361.97 0.00
178 Multifamily TX 20070101 N 2,661,664 8.560 20,875.58 0.00
179 Retail MD 20170401 N 2,562,870 9.375 24,328.49 0.00
180 Multifamily MN 20040101 N 2,588,496 8.020 19,334.69 0.00
181 Retail IL 20040301 N 2,580,618 8.580 20,840.86 0.00
182 Retail FL 20070401 N 2,571,346 9.040 20,995.06 0.00
183 Retail TX 20070401 N 2,561,102 9.220 21,630.00 0.00
184 Health Care GA 20070401 N 2,485,215 9.000 21,189.71 0.00
185 Multifamily TX 20070301 N 2,491,605 8.400 19,236.40 0.00
186 Multifamily UT 20261101 N 2,476,066 8.600 19,516.70 0.00
187 Retail NY 20060901 N 2,436,840 9.060 21,082.73 0.00
188 Multifamily TX 20070101 N 2,420,787 8.370 18,666.30 0.00
189 Retail TX 20061001 N 2,318,600 9.180 20,224.47 0.00
190 Hotel OH 20120101 N 2,227,595 9.250 20,017.90 0.00
191 Retail IL 20070401 N 2,247,757 8.810 17,987.10 0.00
192 Multifamily UT 20261101 N 2,239,781 8.600 17,654.27 0.00
193 Hotel TX 20161101 N 2,193,188 9.250 20,881.76 0.00
194 Multifamily TX 20070401 N 2,231,290 8.875 17,957.71 0.00
195 Retail NY 20111101 N 2,126,065 8.938 23,091.11 0.00
196 Retail FL 20040301 N 2,220,939 8.520 17,332.45 0.00
197 Retail AZ 20070101 N 2,219,931 8.866 17,887.50 0.00
198 Hotel NC 20191101 N 2,187,846 9.250 19,711.28 0.00
199 Retail MI 20070401 N 2,199,412 8.920 17,771.13 0.00
200 Multifamily TX 20070201 N 2,163,724 8.750 17,646.50 0.00
201 Multifamily TN 20061101 N 2,141,197 8.580 16,847.34 0.00
202 Retail CA 20070401 N 2,110,965 8.995 18,035.36 0.00
203 Multifamily TX 20040201 N 2,120,330 8.450 16,455.51 0.00
204 Industrial TX 20040201 N 2,106,421 8.980 18,013.29 0.00
205 Hotel MI 20040201 N 2,101,636 9.750 19,070.34 0.00
206 Retail VA 20070101 N 2,098,636 8.875 17,775.98 0.00
207 Multifamily TX 20070401 N 2,067,966 9.160 17,853.78 0.00
208 Retail GA 20111201 N 1,958,314 8.740 20,976.02 0.00
209 Retail IN 20070401 N 2,031,695 8.875 17,194.52 0.00
210 Retail CO 20031101 N 2,026,530 9.000 17,413.32 0.00
211 Multifamily AZ 20220201 N 1,973,205 8.600 15,520.23 0.00
212 Retail FL 20070301 N 1,926,834 8.875 16,280.80 0.00
213 Retail GA 20070101 N 1,837,887 8.750 15,415.19 0.00
214 Retail GA 20070101 N 1,809,115 8.750 15,209.66 0.00
215 Multifamily MA 20070201 N 1,762,701 8.840 14,908.81 0.00
216 Hotel OK 20170401 N 1,702,634 10.000 16,887.88 0.00
217 Industrial AZ 20120201 N 1,695,736 9.750 16,599.04 0.00
218 Multifamily WI 20220301 N 1,694,267 9.620 14,545.55 0.00
219 Office NY 20070301 N 1,668,052 9.125 14,412.14 0.00
220 Industrial MA 20070201 N 17,045,084 8.940 145,305.92 0.00
221 Multifamily GA 20070201 N 1,653,725 8.790 13,931.94 0.00
222 Retail MA 20070401 N 1,620,351 9.060 13,914.60 0.00
223 Multifamily GA 20031201 N 1,613,922 9.125 13,988.25 0.00
224 Multifamily WI 20211101 N 1,598,106 9.285 13,368.45 0.00
225 Retail TX 20070101 N 1,592,685 8.700 12,648.00 0.00
226 Retail PA 20070401 N 1,582,480 9.072 12,956.94 0.00
227 Multifamily TX 20070401 N 1,585,027 8.750 12,587.21 0.00
228 Industrial OK 20120401 N 1,513,290 8.900 16,133.22 0.00
229 Multifamily FL 20070101 N 1,521,774 8.600 12,642.48 0.00
230 Multifamily TX 20040201 N 1,503,955 8.450 11,671.93 0.00
232 Multifamily TX 20070401 N 1,452,500 9.160 12,540.16 0.00
233 Multifamily TX 20041015 N 1,397,547 9.400 11,819.99 0.00
234 Retail TX 20070401 N 1,398,477 9.220 11,569.08 0.00
235 Office AZ 20070401 N 1,382,973 9.250 12,023.60 0.00
236 Multifamily TX 20070101 N 1,379,203 8.330 10,596.57 0.00
237 Retail TX 20070401 N 1,373,979 9.220 11,917.66 0.00
238 Multifamily TX 20040201 N 1,370,818 8.450 10,638.68 0.00
239 Multifamily TN 20061201 N 1,342,250 8.205 10,815.58 0.00
240 Retail CT 20061101 N 1,333,734 9.125 11,572.10 0.00
241 Hotel TN 20070101 N 1,316,683 9.375 11,940.75 0.00
242 Industrial WY 20070101 N 1,295,672 8.740 10,884.40 0.00
243 Multifamily MD 20070101 N 1,275,920 8.375 10,089.41 0.00
244 Multifamily FL 20070101 N 1,258,860 8.600 10,458.27 0.00
245 Multifamily GA 20070401 N 1,242,270 8.537 10,233.85 0.00
246 Multifamily GA 20061001 N 1,229,937 9.150 10,703.60 0.00
247 Office GA 20061101 N 1,222,336 9.343 10,785.10 0.00
248 Multifamily IN 20061201 N 1,174,590 8.205 9,464.62 0.00
249 Retail TX 20070301 N 1,176,777 8.940 10,021.10 0.00
250 Multifamily TX 20061101 N 1,183,071 9.070 9,715.97 0.00
251 Multifamily TX 20010901 N 1,168,676 8.850 9,947.38 0.00
252 Multifamily TN 20061101 N 1,161,320 8.800 9,823.97 0.00
253 Retail NY 20070101 N 1,125,594 9.010 9,659.00 0.00
254 Multifamily NY 20060901 N 1,055,685 8.980 8,614.15 0.00
255 Multifamily NY 20070101 N 1,031,062 9.125 8,927.05 0.00
256 Retail GA 20070101 N 1,030,765 8.710 8,430.77 0.00
257 Multifamily FL 20070101 N 999,855 8.600 8,306.53 0.00
258 Multifamily MD 20070101 N 1,006,759 8.650 7,959.40 0.00
259 Health Care OH 20061101 N 980,176 10.125 9,879.18 0.00
260 Multifamily VA 20061101 N 976,272 8.900 8,323.59 0.00
261 Multifamily OH 20220401 N 964,168 9.000 7,845.07 0.00
262 Multifamily TX 20070301 N 947,606 9.000 7,884.76 0.00
263 Retail AZ 20070301 N 927,241 9.125 8,011.45 0.00
264 Retail GA 20070101 N 920,326 8.710 7,527.47 0.00
265 Multifamily IN 20070301 N 903,469 8.700 7,548.87 0.00
266 Office AZ 20031101 N 889,288 9.075 7,306.43 0.00
267 Industrial NH 20040101 N 880,048 8.730 7,387.07 0.00
268 Multifamily NC 20061001 N 877,844 8.950 7,521.98 0.00
269 Multifamily TX 20070301 N 847,132 9.000 7,048.75 0.00
270 Self Storage AL 20070101 N 843,119 9.500 7,513.79 0.00
271 Self Storage AL 20070101 N 843,119 9.500 7,513.79 0.00
272 Retail GA 20070101 N 834,429 8.710 6,824.91 0.00
273 Multifamily FL 20070101 N 829,105 8.650 6,711.05 0.00
274 Multifamily OH 20061001 N 781,475 9.340 6,900.80 0.00
275 Multifamily OH 20061001 N 781,475 9.340 6,900.80 0.00
276 Multifamily FL 20070301 N 778,447 8.670 6,300.63 0.00
277 Multifamily NY 20070101 N 609,042 9.125 5,273.15 0.00
278 Multifamily MN 20270101 N 591,844 8.780 4,733.06 0.00
279 Multifamily NY 20070101 N 557,146 9.125 4,823.83 0.00
280 Multifamily NY 20070101 N 534,625 9.125 4,628.84 0.00
281 Multifamily NC 20061001 N 436,166 9.050 3,766.53 0.00
282 Multifamily NY 20070101 N 420,062 9.125 3,636.95 0.00
283 Self Storage AL 20070101 N 392,148 9.500 3,494.79 0.00
284 Multifamily UT 20060801 N 390,313 9.330 3,447.63 0.00
231a Retail MO 20070301 N 1,387,143 8.820 15,852.37 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Totals 1,285,675,862 10,537,989 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------
Offer Paid Thru Prepmt Loan
Control# Date Premium Status
- -----------------------------------------------------
<C> <C> <C> <C>
1 11011998 0.00 0
2 10011998 0.00 B
3 11011998 0.00 0
4 11011998 0.00 0
5 11011998 0.00 0
6 11011998 0.00 0
7 11011998 0.00 0
8 11011998 0.00 0
9 10011998 0.00 B
10 11011998 0.00 0
11 11011998 0.00 0
12 11011998 0.00 0
13 11011998 0.00 0
14 11011998 0.00 0
15 11011998 0.00 0
16 11011998 0.00 0
17 11011998 0.00 0
19 11011998 0.00 0
20 11011998 0.00 0
21 11011998 0.00 0
22 10011998 0.00 B
23 11011998 0.00 0
24 11011998 0.00 0
25 10011998 0.00 B
26 11011998 0.00 0
27 11011998 0.00 0
28 11011998 0.00 0
29 11011998 0.00 0
30 11011998 0.00 0
31 11011998 0.00 0
32 11011998 0.00 0
33 11011998 0.00 0
34 11011998 0.00 0
35 11011998 0.00 0
36 11011998 0.00 0
37 11011998 0.00 0
38 11011998 0.00 0
39 11011998 0.00 0
40 11011998 0.00 0
41 10011998 0.00 B
42 11011998 0.00 0
43 11011998 0.00 0
44 11011998 0.00 0
45 10011998 0.00 B
46 11011998 0.00 0
47 11011998 0.00 0
48 11011998 0.00 0
49 11011998 0.00 0
50 11011998 0.00 0
51 11011998 0.00 0
52 11011998 0.00 0
53 11011998 0.00 0
54 11011998 0.00 0
55 11011998 0.00 0
56 11011998 0.00 0
57 11011998 0.00 0
58 11011998 0.00 0
59 11011998 0.00 0
60 11011998 0.00 0
61 11011998 0.00 0
62 11011998 0.00 0
63 11011998 0.00 0
65 11011998 0.00 0
66 11011998 0.00 0
67 11011998 0.00 0
68 11011998 0.00 0
69 11011998 0.00 0
70 11011998 0.00 0
71 11011998 0.00 0
72 11011998 0.00 0
73 11011998 0.00 0
74 11011998 0.00 0
75 11011998 0.00 0
76 11011998 0.00 0
77 11011998 0.00 0
78 11011998 0.00 0
79 11011998 0.00 0
80 11011998 0.00 0
81 11011998 0.00 0
82 11011998 0.00 0
83 11011998 0.00 0
84 11011998 0.00 0
85 11011998 0.00 0
86 11011998 0.00 0
87 11011998 0.00 0
88 11011998 0.00 0
89 11011998 0.00 0
91 11011998 0.00 0
92 11011998 0.00 0
93 11011998 0.00 0
94 11011998 0.00 0
95 11011998 0.00 0
96 11011998 0.00 0
97 11011998 0.00 0
98 11011998 0.00 0
100 11011998 0.00 0
101 11011998 0.00 0
102 11011998 0.00 0
103 11011998 0.00 0
104 11011998 0.00 0
105 11011998 0.00 0
106 11011998 0.00 0
107 11011998 0.00 0
108 11011998 0.00 0
109 11011998 0.00 0
110 11011998 0.00 0
111 11011998 0.00 0
112 11011998 0.00 0
113 11011998 0.00 0
114 11011998 0.00 0
115 11011998 0.00 0
116 11011998 0.00 0
117 11011998 0.00 0
118 11011998 0.00 0
119 11011998 0.00 0
120 11011998 0.00 0
121 11011998 0.00 0
122 11011998 0.00 0
123 11011998 0.00 0
124 11011998 0.00 0
125 11011998 0.00 0
126 11011998 0.00 0
127 11011998 0.00 0
128 11011998 0.00 0
129 11011998 0.00 0
130 11011998 0.00 0
131 10011998 0.00 B
132 11011998 0.00 0
133 11011998 0.00 0
134 11011998 0.00 0
135 10011998 0.00 B
136 11011998 0.00 0
137 11011998 0.00 0
138 11011998 0.00 0
139 10011998 0.00 B
140 11011998 0.00 0
141 11011998 0.00 0
142 11011998 0.00 0
143 11011998 0.00 0
144 11011998 0.00 0
145 11011998 0.00 0
146 11011998 0.00 0
147 11011998 0.00 0
148 11011998 0.00 0
149 11011998 0.00 0
150 11011998 0.00 0
151 11011998 0.00 0
152 11011998 0.00 0
153 11011998 0.00 0
154 11011998 0.00 0
155 11011998 0.00 0
156 11011998 0.00 0
157 11011998 0.00 0
158 11011998 0.00 0
159 11011998 0.00 0
160 11011998 0.00 0
161 11011998 0.00 0
162 11011998 0.00 0
163 11011998 0.00 0
164 11011998 0.00 0
165 11011998 0.00 0
166 11011998 0.00 0
167 11011998 0.00 0
168 11011998 0.00 0
169 11011998 0.00 0
170 10011998 0.00 B
171 11011998 0.00 0
172 11011998 0.00 0
173 11011998 0.00 0
174 11011998 0.00 0
175 11011998 0.00 0
176 11011998 0.00 0
177 11011998 0.00 0
178 11011998 0.00 0
179 11011998 0.00 0
180 11011998 0.00 0
181 11011998 0.00 0
182 11011998 0.00 0
183 11011998 0.00 0
184 11011998 0.00 0
185 11011998 0.00 0
186 11011998 0.00 0
187 11011998 0.00 0
188 11011998 0.00 0
189 11011998 0.00 0
190 11011998 0.00 0
191 11011998 0.00 0
192 11011998 0.00 0
193 11011998 0.00 0
194 11011998 0.00 0
195 11011998 0.00 0
196 10011998 0.00 B
197 11011998 0.00 0
198 10011998 0.00 B
199 11011998 0.00 0
200 11011998 0.00 0
201 11011998 0.00 0
202 10011998 0.00 B
203 11011998 0.00 0
204 9011998 0.00 1
205 10011998 0.00 B
206 11011998 0.00 0
207 11011998 0.00 0
208 11011998 0.00 0
209 11011998 0.00 0
210 11011998 0.00 0
211 11011998 0.00 0
212 9011998 0.00 1
213 11011998 0.00 0
214 11011998 0.00 0
215 11011998 0.00 0
216 11011998 0.00 0
217 11011998 0.00 0
218 11011998 0.00 0
219 11011998 0.00 0
220 11011998 0.00 0
221 11011998 0.00 0
222 11011998 0.00 0
223 11011998 0.00 0
224 11011998 0.00 0
225 11011998 0.00 0
226 11011998 0.00 0
227 11011998 0.00 0
228 11011998 0.00 0
229 11011998 0.00 0
230 11011998 0.00 0
232 10011998 0.00 B
233 10011998 0.00 B
234 11011998 0.00 0
235 10011998 0.00 B
236 11011998 0.00 0
237 11011998 0.00 0
238 11011998 0.00 0
239 11011998 0.00 0
240 11011998 0.00 0
241 11011998 0.00 0
242 11011998 0.00 0
243 11011998 0.00 0
244 11011998 0.00 0
245 11011998 0.00 0
246 11011998 0.00 0
247 11011998 0.00 0
248 11011998 0.00 0
249 11011998 0.00 0
250 11011998 0.00 0
251 11011998 0.00 0
252 11011998 0.00 0
253 11011998 0.00 0
254 11011998 0.00 0
255 10011998 0.00 B
256 11011998 0.00 0
257 11011998 0.00 0
258 11011998 0.00 0
259 10011998 0.00 B
260 11011998 0.00 0
261 10011998 0.00 B
262 11011998 0.00 0
263 11011998 0.00 0
264 11011998 0.00 0
265 11011998 0.00 0
266 11011998 0.00 0
267 11011998 0.00 0
268 11011998 0.00 0
269 11011998 0.00 0
270 11011998 0.00 0
271 11011998 0.00 0
272 11011998 0.00 0
273 11011998 0.00 0
274 11011998 0.00 0
275 11011998 0.00 0
276 11011998 0.00 0
277 11011998 0.00 0
278 11011998 0.00 0
279 11011998 0.00 0
280 11011998 0.00 0
281 11011998 0.00 0
282 11011998 0.00 0
283 11011998 0.00 0
284 11011998 0.00 0
231a 11011998 0.00 0
- -----------------------------------------------------
Totals 0.00
- -----------------------------------------------------
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
If state field is blank loan has properties in multiple states. NOTE: As of 10/1998 State Street is reporting loans based on
Ending Schedule Balance
- ------------------------------------------------------------------------------------------------------------------------------------
Loan Status:
A= Payment not rec'd. but still in grace period, B= Late payment, but less than 1mo., 0= Current, 1= 1 mo. delinquent,
2= 2mo. delinquent, 3= Three or more mo. delinquent, 4= Assumed scheduled payment (performing matured balloon), 7= Foreclosure,
9=REO
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: NOVEMBER 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT ID B233-05
DELINQUENCY/PREPAYMENT REPORTING HISTORY: ROLLING 24 MONTHS
- -----------------------------------------------------------------------------------
Delinq 1 Month Delinq 2 Months Delinq 3+ Months Foreclosure/Bank
Dist ---------------- ---------------- ---------------- ----------------
Date # Bal # Bal # Bal # Bal
- -----------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1198 2 4,041,253.45 0 - 0 - 0 -
1098 0 - 0 - 0 - 0 -
998 0 - 0 - 0 - 0 -
898 0 - 0 - 0 - 0 -
798 1 2,117,424.33 0 - 0 - 0 -
698 0 - 0 - 0 - 0 -
598 0 - 0 - 0 - 0 -
498 2 2,665,966.95 0 - 0 - 0 -
398 2 2,668,055.53 0 - 0 - 0 -
298 0 - 0 - 0 - 0 -
198 1 5,370,211.42 0 - 0 - 0 -
1297 0 - 0 - 0 - 0 -
1197 0 - 0 - 0 - 0 -
1097 0 - 0 - 0 - 0 -
997 0 - 0 - 0 - 0 -
897 0 - 0 - 0 - 0 -
797 0 - 0 - 0 - 0 -
697 0 - 0 - 0 - 0 -
- -----------------------------------------------------------------------------------
<CAPTION>
- ---------------------------------------------------------------
REO Modifications Prepayments
Dist ---------------- ---------------- ----------------
Date # Bal # Bal # Bal
- ---------------------------------------------------------------
<C> <C> <C> <C>
1198 0 - 0 - 0 -
1098 0 - 0 - 0 -
998 0 - 0 - 0 -
898 0 - 0 - 0 -
798 0 - 0 - 0 -
698 0 - 0 - 0 -
598 0 - 0 - 0 -
498 0 - 0 - 0 -
398 0 - 0 - 0 -
298 0 - 0 - 0 -
198 0 - 0 - 0 -
1297 0 - 0 - 0 -
1197 0 - 0 - 0 -
1097 0 - 0 - 0 -
997 0 - 0 - 0 -
897 0 - 0 - 0 -
797 0 - 0 - 0 -
697 0 - 0 - 0 -
- ---------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: NOVEMBER 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT ID B233-07
DELINQUENCY LOAN DETAIL
- ------------------------------------------------------------------------------------------------------------------------------
Offer Paid Thru Current Outstand Adv Loan Spec Ser Foreclosure Bankrupt REO
Control# Period Date P&I Adv P&I Adv Desc(1) Status(2) Trans Date Date Date Date
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
204 11181998 9011998 18,013.29 34,690.40 1 n/a n/a n/a n/a n/a
212 11181998 9011998 16,280.80 32,136.61 1 n/a n/a n/a n/a n/a
No delinquent loans for 10/18/98
No delinquent loans for 9/18/98
No delinquent loans for 8/18/98
204 7181998 5011998 17,771.13 35,567.57 1 n/a n/a n/a n/a n/a
No delinquent loans for 6/18/98
No delinquent loans for 5/18/98
204 4181998 2011998 18,013.29 18,013.29 1 n/a n/a n/a n/a n/a
280 4181998 3011998 4,628.84 4,628.84 1 n/a n/a n/a n/a n/a
204 3181998 1011998 18,013.29 18,013.29 1 n/a n/a n/a n/a n/a
280 3181998 1011998 4,628.84 4,628.84 1 n/a n/a n/a n/a n/a
No delinquent loans for 2/18/98
76 1181998 11011997 44,885.27 44,885.27 1 n/a n/a n/a n/a n/a
No delinquent loans for 12/18/97
No delinquent loans for 11/18/97
No delinquent loans for 10/18/97
No delinquent loans for 9/18/97
No delinquent loans for 8/18/97
No delinquent loans for 7/18/97
No delinquent loans for 6/18/97
</TABLE>
<TABLE>
<CAPTION>
(1) Advance Description (2) Loan Status:
- ----------------------- ---------------
<S> <C> <C>
0 = Late Payment but LESS THAN one month delinquent 1 = Spec Serviced 6 = DPO
1 = P&I Advance - Loan delinquent 1 month 2 = Foreclosure 7 = Foreclosure Safe
2 = P&I Advance - Loan delinquent 2 months 3 = Bankruptcy 8 = Bankruptcy Safe
3 = P&I Advance - Loan delinquent 3 months 4 = REO 9 = REO Disposition
4 = P&I Advance - Loan in Grace Period 5 = Prepay in Full 10 = Mod/Workout
5 = P&I Advance - Assumed Scheduled Payment
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST State Street Corporate Trust
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES Web: corporatetrust.statestreet.com
SERIES 1997-C1 Payment Date: November 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION Report ID B233-08
SPECIALLY SERVICED LOAN SUMMARY
Number of Loans as of the Closing Date 283*
Principal Balance as of the Closing Date 1,305,448,224.47
Current Number of Loans 280
Current Outstanding Principal Balance 1,285,675,861.00
Current Number of Specially Serviced Loans 0
Current Outstanding Principal Balance of Specially Serviced Loans 0.00
Percent of Specially Serviced Loans (per Current Number of Loans) 0.00000%
Percent of Specially Serviced Loans (per Current Outstanding Principal Balance) 0.00000%
--------------------------------------------------------------------------------------------------------------------
Curr Bal Curr Bal
as % of as % of
Number of Initial Current Spec Total Pool
Specially Serviced Loan Status Loans Prin Bal Prin Bal Serv Loan Balance
--------------------------------------------------------------------------------------------------------------------
1 = Request for waiver of Prepayment Penalty
2 = Payment Default
3 = Request for Loan Modification or Workout
4 = Loans with Borrower Bankruptcy
5 = Loans in Process of Foreclosure
6 = Loans now REO Property
7 = Loan Paid Off
8 = Loans Returned to Master Servicer
--------------------------------------------------------------------------------------------------------------------
*Original Loan count includes four loans which have subsequently been combined into one
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: NOVEMBER 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT ID B233-09
SPECIALLY SERVICED LOAN DETAIL
- -----------------------------------------------------------------------------------------------------------------------------------
Offer Transfer Sched Maturity Prop Spec Serv
Control# Date Prin Bal Date Type State NOI NOI Date DSCR Status Code *
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
</TABLE>
No specially serviced loans
<TABLE>
*Legend
- -------
<S> <C> <C> <C> <C> <C>
1 = Request for waiver or Prepayment Penalty 4 = Loans with Borrower Bankruptcy 7 = Loan Paid Off
2 = Payment Default 5 = Loans in Process of Foreclosure 8 = Loans Returned to Master Servicer
3 = Request for Loan Modification or Workout 6 = Loans now REO Property
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: NOVEMBER 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT ID B233-10
MODIFIED LOAN DETAIL
- ----------------------------------------------------------------------------------------------------------------------------------
Distribution Control Modfication Modification
Date # Date Description
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
</TABLE>
No modified loans.
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-C1 PAYMENT DATE: NOVEMBER 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT ID B233-11
REALIZED LOSS DETAIL
- -----------------------------------------------------------------------------------------------------------------------------------
Distribution Control Appraisal App Val/ Sched Gross GP as Agg Liq Net Liq NP as Current
Date # Date Broker Est Prin Bal Proceed % of bal Expenses Proceeds % of bal Realized Loss
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
No realized losses
Current Tot 0 0 0% 0 0
Cumulative 0 0 0% 0 0
</TABLE>
<PAGE>
FIRST UNION/LEHMAN BROTHERS, SERIES 1997-C1
SERVICER WATCH LIST
AS OF
NOVEMBER 18, 1998
<TABLE>
<CAPTION>
SCHEDULED PAID
PROSPECTUS PROPERTY PROPERTY LOAN THRU
ID NAME TYPE CITY STATE BALANCE DATE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
29 Hillcrest Shopping Center Retail - Anchored Crest Hill IL 8,418,026 10/1/98
51 Abington Apartments Multifamily Memphis TN 6,550,145 9/1/98
73 McDowell Marketplace Retail - Anchored Phoenix AZ 5,538,514 10/1/98
91 Ramada Inn - East Windsor Hospitality East Windsor NJ 4,869,791 10/1/98
93 Broadmoor Apartments Multifamily Meridian MS 4,813,909 10/1/98
137 Marriot Courtyard -Athens Hospitality Athens GA 3,451,332 10/1/98
138 Comfort Inn Hospitality Bensalem PA 3,448,801 10/1/98
142 Crestview Holiday Inn Hospitality Crestview FL 3,400,503 10/1/98
154 Falcon Crest Apartments Multifamily Dallas TX 3,206,156 10/1/98
159 Canyon Place Multifamily - Section 42 St. George UT 3,108,365 10/1/98
186 Valley View Multifamily - Section 42 S Ogden UT 2,477,825 10/1/98
204 1000 West Crosby Industrial Carrollton TX 2,108,655 9/1/98
205 Holiday Inn Bay City Hospitality Bay City MI 2,103,614 10/1/98
206 Potomac Festival II Retail - Anchored Woodbridge VA 2,100,361 10/1/98
207 Weatheredge Multifamily Houston TX 2,069,496 10/1/98
209 Gateway Center Retail - Unanchored Ft. Wayne IN 2,033,848 10/1/98
210 Streetcar Stables Retail - Unanchored Denver CO 2,028,728 10/1/98
282 2530-32 Bathgate Ave Multifamily Bronx NY 420,502 10/1/98
- ----------------------------------------------------------------------------------------------------------------------------------
Total 62,148,569
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
PROSPECTUS MATURITY RECENT
ID DATE DSCR
- -----------------------------------------
<S> <C> <C>
29 12012006 1.00
51 11012006 1.05
73 04012012 0.89
91 02012007 1.79
93 03012004 0.85
137 04012007 1.05
138 04012007 0.87
142 02012007 0.52
154 03012004 1.20
159 11012026 0.47
186 11012026 0.92
204 02012004 0.82
205 02012004 1.10
206 01012007 0.58
207 04012007 1.08
209 04012007 1.01
210 11012003 1.05
282 01012007 0.54
- -----------------------------------------
Total
- -----------------------------------------
</TABLE>
<PAGE>
PROSPECTUS
ID COMMENT/REASON ON WATCH LIST
29 Property is being monitored due to a normalized DSCR of 1.00 for
06/30/98 (Q2). The decrease is the result of a drop in income as a
result of decreased occupancy during 1998 (79.35% vs. 91.30% for
1997). Further details are being researched with borrowe
51 Property is being monitored due to poor DSCR of 1.05 for 03/31/98
(Q1). Most recent inspection (6/25/98) reported the property to be
in overall fair condition with major deferred maintenance.
Additional information has been requested from borrower.
73 Property is being monitored due to a normalized DSCR of .89 for
03/31/98 (Q1). The decrease in the DSCR is due to a large drop in
Tenant Reimbursement income. Reimbursements were not collected
during the first quarter of 1998. As reimbursements are mad
91 Property is being monitored due to a normalized DSCR of .92 for
12/31/97 (YE). The low DSCR is the result of a large increase in
Repairs & Maintenance expense. During 1997, major room upgrades
and renovations were done. Renovations included new wall pa
Physical occupancy had dropped after u/w to 84% at 9/30/98 and
further to 89.56% at year end to 89.16% in 1Q98. Property is now at
98.39% occupancy. Per bwr, property raised rental standards in 3rd
& 4th qtrs resulting in a large amount of vacancies and
93 quarter 1998. Based on 2nd qtr figures, borrower has succeeded in
increasing occupancy and improving image of property. Income and
expense variations support borrowers explanations and are expected
to correct problem by year end.
137 The subject property is being monitored due to a 34% drop in DSCR
over original underwriting. Statements are a combination of
statements from old borrower and new borrower as the loan was
originated/refinanced in March of 1997. Occupancy has declined re
138 The subject property is being monitored due to low DSCR for the
first six months of 1998. The DSCR for the first quarter of 1998
is .27. Beginning in December of 1997, the property was too
aggressive with its rates. Rates were raised an average of $8,
142 1997--Income lower due to decrease in occupancy for the year. U/W
projections for occupancy and revenues may be overstated--2
hurricanes in 1995 affected occ & revenues and U/W projected a
recovery with stabilzation at a higher level than early 1997 fig
154 Property is being monitored due to a DSCR of .98 for year-end 1997.
Income is low due to higher vacancy as a result of nearby
competition. During Summer 1997, nearby multi-family property
changed ownership and lowered rents & offered large concessions.
159 Property is being monitored due to low DSCR for the last 4
quarters--1.03 (9/97), .99 (12/97), .48 (3/98), and .47 (6/98).
For 1997, income was low due to a decrease in occupancy. During
1998, income has decreased even more dramatically. ARR for 1997 w
186 Property is being monitored due to low DSCR for the last 4
quarters--1.03 (9/97), 1.06 (12/97), .93 (3/98), and .92 (6/98).
During 1997, income decreased as a result of a decline in
occupancy. Utah has been experiencing a decline in occupancy for
the pa
204 Loan transferred to Special Servicing July 21, 1998 due to 45 day
payment delinquency. Property previously monitored due to a DSCR
of .75 for year-end 1997 and consistantly late mortgage payments.
Low DSCR is the result of: 1) drop in EGI over original
205 The subject property is being monitored due to a 26% drop in DSCR
over original underwriting and drop in DSCR from 3rd to 4th
quarter. (Occupancy at year end is down 5%, revenues and occupancy
dropped during the 4th quarter alone, resulting in lower EGI.
206 The subject property is being monitored due to a low DSCR of .58
for 03/31/98 (Q1). Income has dropped 21% and Expenses have
increased almost 18% compared to 1997. The financial statements
provided by the borrower include income & expense associated wit
207 The subject property is being monitored due to a 40% drop in DSCR
over original underwriting (occupancy has dropped 3%, revenues are
down 3% and expenses are up 10%.) Detailed statements requested
and received from management company conflict with origin
209 The subject property is being monitored due to a DSCR of 1.01 for
the first quarter of 1998 (3/31/98). Total operating expenses have
increased slightly due to a 49.11% increase in Repairs &
Maintenance over 1997. Repairs & Maintenance is expected to lev
210 Low DSCR for year end 1997 is attributable to low rental income.
Major restaurant tenant (Sostanza's) opened in May, 1997--nearly a
year later than scheduled. Tenant also has a problem with rent
payments, only $16,752 was collected in 1997 where montly
282 The subject property is being monitored due to a DSCR of 0.54 for
3/31/98 (Q1). Income has fallen 16.29% compared to 1997. Repairs
& Maintenance Expenses are higher than U/W and historical. This is
most likely due to the inclusion of capital improvemen
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-1 PAYMENT DATE: NOVEMBER 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT B233-01
DISTRIBUTION OF CURRENT SCHEDULED PRINCIPAL BALANCES
- ------------------------------------------------------------------------------------------------------------
Current Weighted Averages
Scheduled # of Aggregate % Tot ---------------------------------
Principal Mtg Sched Prin Sched Mort Mnths
Balance Loans Balance Bal DSCR Rate to Mat
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
< 1,000,000.00 27 20,735,939 1.61 1.57 9.05 109.93
1,000,000.00+ 47 67,588,660 5.26 1.56 8.93 116.22
2,000,000.00+ 44 107,324,307 8.35 1.37 8.81 121.52
3,000,000.00+ 52 178,872,764.00 13.91 1.42 8.82 110.12
4,000,000.00+ 26 117,110,857 9.11 1.48 8.77 99.00
5,000,000.00+ 24 131,305,090 10.21 1.57 8.85 99.42
6,000,000.00+ 16 102,088,193 7.94 1.26 8.63 87.25
7,000,000.00+ 13 97,214,580 7.56 1.35 8.62 99.93
8,000,000.00+ 10 89,475,478 6.96 1.35 8.51 106.93
10,000,000.00+ 10 126,466,637 9.84 1.45 8.65 92.14
15,000,000.00+ 5 89,911,032 6.99 1.31 8.65 108.90
20,000,000.00+ 6 157,582,323 12.26 1.28 8.57 170.51
- ------------------------------------------------------------------------------------------------------------
Total 280 1,285,675,861 100.00 1.40 8.72 112.02
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTION OF CURRENT MORTGAGE INTEREST RATES
- ------------------------------------------------------------------------------------------------------------
Current Weighted Averages
Mortgage # of Aggregate % Tot ---------------------------------
Interest Mtg Sched Prin Sched Mort Mnths
Rate Loans Balance Bal DSCR Rate to Mat
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
< 8.00 1 16,225,364 1.26 1.42 7.99 97.00
8.000-8.249 24 132,691,344 10.32 1.34 8.09 82.85
8.250-8.499 34 237,837,006 18.50 1.32 8.37 124.62
8.500-8.749 64 311,074,302 24.20 1.34 8.61 125.76
8.750-8.999 63 280,340,711 21.80 1.37 8.85 98.52
9.000-9.249 46 144,493,496 11.24 1.46 9.10 100.11
9.250-9.499 35 129,498,168 10.07 1.79 9.34 134.62
9.500-9.999 10 26,284,028 2.04 1.20 9.65 96.39
10.000+ 3 7,231,442 0.56 1.76 10.33 89.58
- ------------------------------------------------------------------------------------------------------------
Total 280 1,285,675,861 100.00 1.40 8.72 112.02
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTION OF REMAINING STATED TERM (BALLOON LOANS ONLY)
- ------------------------------------------------------------------------------------------------------------
Remaining Weighted Averages
Stated # of Aggregate % Tot ---------------------------------
Term Mtg Sched Prin Sched Mort Mnths
(Months) Loans Balance Bal DSCR Rate to Mat
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
< 13 0 0 0.00 0.00 0.00 0.00
13-24 0 0 0.00 0.00 0.00 0.00
25-36 1 1168676 0.10 1.57 8.85 34.00
37-48 1 4548632 0.40 1.54 10.50 39.00
49-60 3 8944637 0.78 1.30 8.94 60.00
61-72 53 265968618 23.22 1.42 8.54 63.80
73+ 192 864945028 75.50 1.39 8.73 110.39
- ------------------------------------------------------------------------------------------------------------
Total 250 1,145,575,591 100.00 1.40 8.70 98.82
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTION OF REMAINING STATED TERM (FULLY AMORTIZING LOANS ONLY)
- ------------------------------------------------------------------------------------------------------------
Remaining Weighted Averages
Stated # of Aggregate % Tot ---------------------------------
Term Mtg Sched Prin Sched Mort Mnths
(Months) Loans Balance Bal DSCR Rate to Mat
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
< 13 0 - 0.00 0.00 0.00 0.00
13-24 0 - 0.00 0.00 0.00 0.00
25-36 1 5,519,388 3.94 1.42 9.62 33.00
37-60 0 - 0.00 0.00 0.00 0.00
61-120 3 19,066,130 13.61 1.52 9.31 99.22
121-180 10 32,860,135.00 23.45 1.49 8.73 157.63
181-240 6 19,752,008.00 14.10 1.51 9.01 217.51
241+ 10 62,902,610.00 44.90 1.36 8.74 306.39
- ------------------------------------------------------------------------------------------------------------
Total 30 140,100,271 100.00 1.43 8.89 220.00
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-1 PAYMENT DATE: NOVEMBER 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT B233-02
DISTRIBUTION OF HIGHEST STATE CONCENTRATIONS BY BALANCE AT CLOSING
- ------------------------------------------------------------------------------------------------------------
Weighted Averages
Top # of Aggregate % Tot ---------------------------------
Ten Mtg Sched Prin Sched Mort Mnths
States Loans Balance Bal DSCR Rate to Mat
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Texas 52 165,930,968 12.91 1.37 8.64 88.09
Florida 30 145,992,792 11.36 1.43 8.69 91.61
California 14 101,855,809 7.92 1.34 8.71 150.07
Pennsylvania 9 88,521,462 6.89 1.31 8.64 110.66
Maryland 10 83,365,626 6.48 1.32 8.51 102.44
Arizona 17 71,266,463 5.54 1.28 8.85 113.45
Georgia 20 68,245,692 5.31 1.41 8.83 109.91
New Jersey 6 51,711,550 4.02 1.40 8.74 238.14
Masschusetts 8 51,707,498 4.02 1.41 8.94 95.08
Illinois 7 48,818,385 3.80 1.26 8.78 78.98
Other 107 408,259,614 31.75 1.49 8.74 112.04
- ------------------------------------------------------------------------------------------------------------
Total 280 1,285,675,861 100.00 1.40 8.72 112.02
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTION OF PROPERTY TYPE
- ------------------------------------------------------------------------------------------------------------
Weighted Averages
# of Aggregate % Tot ---------------------------------
Property Mtg Sched Prin Sched Mort Mnths
Types Loans Balance Bal DSCR Rate to Mat
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Retail 94 497,880,354 38.73 1.37 8.75 109.33
Multi-Family 123 519,347,671 40.39 1.32 8.44 115.94
Office 14 68,871,346 5.36 1.68 9.02 96.13
Self-Storage 6 14,999,130 1.17 1.33 9.34 97.12
Industrial 8 30,483,443 2.37 1.31 8.99 104.13
Health Care 4 14,594,496 1.14 1.40 8.66 100.42
Mobile Home Park 3 12,997,375 1.01 1.47 9.10 77.93
Hotel 28 126,502,046 9.84 1.74 9.37 123.70
- ------------------------------------------------------------------------------------------------------------
Total 280 1,285,675,861 100.00 1.40 8.72 112.02
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTION OF SEASONING
- ------------------------------------------------------------------------------------------------------------
Weighted Averages
# of Aggregate % Tot ---------------------------------
Seasoning Mtg Sched Prin Sched Mort Mnths
(months) Loans Balance Bal DSCR Rate to Mat
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
< 13 0 - 0.00 0.00 0.00 0.00
13-24 263 1,230,430,754 95.70 1.40 8.69 112.98
25-36 16 50,696,475 3.94 1.43 9.26 95.43
37-48 1 4,548,632 0.35 1.54 10.50 39.00
49-60 0 - 0.00 0.00 0.00 0.00
61-72 0 - 0.00 0.00 0.00 0.00
73+ 0 - 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------
Total 280 1,285,675,862 100.00 1.40 8.72 112.02
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTION OF MOST RECENT DEBT SERVICE COVERAGE RATIO
- ------------------------------------------------------------------------------------------------------------
Weighted Averages
# of Aggregate % Tot ---------------------------------
Mtg Sched Prin Sched Mort Mnths
DSCR Loans Balance Bal DSCR Rate to Mat
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0 0 - 0.00 0.00 0.00 0.00
< 1.01 10 35,797,573 2.78 0.81 8.71 138.38
1.01 - 1.10 20 78,160,549 6.08 1.08 8.70 99.02
1.11 - 1.20 23 132,370,595 10.30 1.18 8.57 142.87
1.21 - 1.30 58 321,830,431 25.03 1.26 8.60 120.38
1.31 - 1.40 44 237,510,446 18.47 1.35 8.66 101.13
1.41 - 1.50 45 203,568,945 15.83 1.45 8.79 99.09
1.51 - 2.00 66 238,732,386 18.57 1.69 8.90 106.23
2.01+ 14 37,704,938 2.93 2.82 9.07 109.44
- ------------------------------------------------------------------------------------------------------------
Total 280 1,285,675,861 100.00 1.40 8.72 112.02
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FIRST UNION-LEHMAN BROTHERS COMMERCIAL MORTGAGE TRUST STATE STREET CORPORATE TRUST
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES WEB: CORPORATETRUST.STATESTREET.COM
SERIES 1997-1 PAYMENT DATE: NOVEMBER 18, 1998
UNDERWRITER: LEHMAN / FIRST UNION REPORT B233-03
DISTRIBUTION OF LOAN TO VALUE RATIO
- ------------------------------------------------------------------------------------------------------------
Weighted Averages
Most # of Aggregate % Tot ---------------------------------
Recent Mtg Sched Prin Sched Mort Mnths
LTV Loans Balance Bal DSCR Rate to Mat
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0 0 0 0.00 0.00 0.00 0.00
< 50.00 12 50,835,549 3.95 1.63 8.93 107.90
50.00-59.99 36 116,399,630 9.05 1.56 9.11 123.98
60.00-69.99 92 347,972,619 27.07 1.54 8.97 104.11
70.00-79.99 138 751,183,198 58.43 1.30 8.52 113.74
80.00-89.99 1 2,239,781 0.17 1.08 8.60 336.00
90.00-99.99 0 0 0.00 0.00 0.00 0.00
100.00+ 1 17,045,084 1.33 1.29 8.94 99.00
- ------------------------------------------------------------------------------------------------------------
Total 280 1,285,675,861 100.00 1.40 8.72 112.02
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTION OF AMORTIZATION TYPE
- ------------------------------------------------------------------------------------------------------------
Weighted Averages
# of Aggregate % Tot ---------------------------------
Amortization Mtg Sched Prin Sched Mort Mnths
Type Loans Balance Bal DSCR Rate to Mat
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Fully Amortizing 27 116,901,895 9.09 1.42 8.78 247.11
Amortizing Balloon 249 1,144,188,448 89.00 1.40 8.70 98.82
Other 4 24,585,518 1.91 1.50 9.38 84.35
Total 280 1,285,675,861 100.00 1.40 8.72 112.02
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTION OF ORIGINAL TERM TO STATED MATURITY
- ------------------------------------------------------------------------------------------------------------
Weighted Averages
Original # of Aggregate % Tot ---------------------------------
Term to Mtg Sched Prin Sched Mort Mnths
Maturity Loans Balance Bal DSCR Rate to Mat
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
< 73 2 6,688,063 0.52 1.45 9.49 33.17
73-88 56 278,064,339 21.63 1.42 8.58 63.23
89-107 1 1,397,547 0.11 1.38 9.40 71.00
108-120 179 772,537,073 60.09 1.41 8.73 99.04
121-240 26 148,944,713 11.58 1.34 8.80 175.33
241-274 0 0 0.00 0.00 0.00 0.00
275+ 16 78,044,126 6.07 1.33 8.78 301.02
- ------------------------------------------------------------------------------------------------------------
Total 280 1,285,675,861 100.00 1.40 8.72 112.02
- ------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTION OF MATURITY DATE EXTENSIONS (SINCE DEAL ORIGINATION)
- ------------------------------------------------------------------------------------------------------------
Weighted Averages
# of Aggregate % Tot ---------------------------------
Amortization Mtg Sched Prin Sched Mort Mnths
Type Loans Balance Bal DSCR Rate to Mat
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0 -12 0 0.00 0 0.00 0.00 0
13-24 0 0.00 0 0.00 0.00 0
25 + 0 0.00 0 0.00 0.00 0
Extended & Paid Off 0 0.00 0 0.00 0.00 0
Total 0 0.00 0 0.00 0.00 0
- ------------------------------------------------------------------------------------------------------------
</TABLE>
