|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: ARTESIAN RESOURCES CORP, 10-Q, 1998-05-06 |
Next: TAX FREE RESERVES PORTFOLIO, N-30B-2, 1998-05-06 |
UNITED STATES
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): April 27, 1998
HOMESIDE MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of
033-34957
52-2008829
Pooling and Servicing Agreement)
(Commission
(I.R.S. Employer
(State or other
File Number)
Identification No.)
jurisdiction
c/o Norwest Bank Minnesota, N.A.
7485 New Horizon Way
Frederick, MD
21703
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
Former name or former address, if changed since last report)
ITEM 5. Other Events
On April 27, 1998 a distribution was made to holders of HOMESIDE MORTGAGE
SECURITIES, INC., Mortgage Pass-Through Certificates, Series 1998-1 Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K
Exhibit Number Description
EX-99.1
Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 1998-1 Trust,
relating to the April 27, 1998 distribution.
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.
HOMESIDE MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-1 Trust
By: Norwest Bank Minnesota, N.A., as Trustee
By: /s/ Sherri J. Sharps, Vice president
By: Sherri J. Sharps, Vice president
Date: 5/4/1998
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1
Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-1 Trust, relating to the April 27,
1998 distribution.
<TABLE>
<CAPTION>
Homeside Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Record Date: 3/31/1998
Distribution Date:
4/27/1998
HMS Series: 1998-1
Contact: Customer Service - Columbia, MD
Norwest Bank Minnesota, N.A.
Securities Administration Services
11000 Broken Land Parkway
Columbia, MD 21044
Telephone: (410) 884-2173
Fax: (410) 884-2369
Certificateholder Distribution Summary
Certificate Certificate
Beginning
Class
Pass-Through Certificate
Interest
Principal
Class
CUSIP
Description Rate
Balance
Distribution
Distribution
<S> <C> <C> <C> <C> <C> <C>
A-1 437609AA8 SEQ 6.75000% 165,569,152.69 931,326.48 5,996,775.05
A-2 437609AB6 SEQ 6.75000% 40,501,000.00 227,818.12 0.00
A-3 437609AC4 SEQ 6.75000% 11,012,000.00 61,942.50 0.00
A-4 437609AD2 SEQ 6.75000% 37,328,133.00 209,970.75 0.00
A-5 437609AE0 PAC 6.65000% 72,037,426.62 399,207.41 2,079,450.64
A-6 437609AF7 TAC 6.75000% 23,954,379.00 134,743.38 0.00
A-7 437609AG5 SEQ 6.75000% 2,893,510.72 16,276.00 1,258,807.28
A-8 437609AH3 SEQ 8.50000% 3,280,743.80 23,238.60 118,825.77
A-9 437609AJ9 IO 6.75000% 0.00 1,218.70 0.00
A-10 437609AK6 PAC 6.75000% 1,049,002.00 5,900.64 0.00
A-R 437609AL4 R 6.75000% 0.00 0.00 0.00
AP 437609AU4 PO 0.00000% 1,329.25 0.00 3.67
AX 437609AM2 IO 6.75000% 0.00 240,644.38 0.00
M 437609AN0 SUB 6.75000% 8,174,883.58 45,983.72 6,142.51
B-1 437609AP5 SUB 6.75000% 3,308,880.71 18,612.45 2,486.25
B-2 437609AQ3 SUB 6.75000% 1,751,760.55 9,853.65 1,316.25
B-3 437609AR1 SUB 6.75000% 1,362,480.76 7,663.95 1,023.75
B-4 437609AS9 SUB 6.75000% 973,199.97 5,474.25 731.25
B-5 437609AT7 SUB 6.75000% 973,201.15 5,474.26 731.25
Totals 374,171,083.80 2,345,349.24 9,466,293.67
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current
Ending
Cumulative
Realized
Certificate
Total
Realized
Class
Loss
Balance
Distribution
Losses
<S> <C> <C> <C> <C>
A-1 $0.00 $159,572,377.64 $6,928,101.53 $0.00
A-2 $0.00 $40,501,000.00 $227,818.12 $0.00
A-3 $0.00 $11,012,000.00 $61,942.50 $0.00
A-4 $0.00 $37,328,133.00 $209,970.75 $0.00
A-5 $0.00 $69,957,975.98 $2,478,658.05 $0.00
A-6 $0.00 $23,954,379.00 $134,743.38 $0.00
A-7 $0.00 $1,634,703.44 $1,275,083.28 $0.00
A-8 $0.00 $3,161,918.03 $142,064.37 $0.00
A-9 $0.00 $0.00 $1,218.70 $0.00
A-10 $0.00 $1,049,002.00 $5,900.64 $0.00
A-R $0.00 $0.00 $0.00 $0.00
AP $0.00 $1,325.58 $3.67 $0.00
AX $0.00 $0.00 $240,644.38 $0.00
M $0.00 $8,168,741.07 $52,126.23 $0.00
B-1 $0.00 $3,306,394.46 $21,098.70 $0.00
B-2 $0.00 $1,750,444.30 $11,169.90 $0.00
B-3 $0.00 $1,361,457.01 $8,687.70 $0.00
B-4 $0.00 $972,468.72 $6,205.50 $0.00
B-5 $0.00 $972,469.90 $6,205.51 $0.00
Totals $0.00 $364,704,790.13 $11,811,642.91 $0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
Edward M. Frere, Jr.
Vice President, Norwest Bank Minnesota, N.A.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Original
Beginning
Scheduled
Unscheduled
Face
Certificate
Principal
Principal
Realized
Class
Amount
Balance
Distribution
Distribution
Accretion
Loss (1)
<S> <C> <C> <C> <C> <C> <C>
A-1 175,500,000.00 165,569,152.69 170,451.60 5,826,323.46 0.00 0.00
A-2 40,501,000.00 40,501,000.00 0.00 0.00 0.00 0.00
A-3 11,012,000.00 11,012,000.00 0.00 0.00 0.00 0.00
A-4 37,328,133.00 37,328,133.00 0.00 0.00 0.00 0.00
A-5 75,481,062.00 72,037,426.62 59,106.05 2,020,344.59 0.00 0.00
A-6 23,954,379.00 23,954,379.00 0.00 0.00 0.00 0.00
A-7 4,978,135.00 2,893,510.72 35,780.18 1,223,027.09 0.00 0.00
A-8 3,477,523.00 3,280,743.80 3,377.49 115,448.28 0.00 0.00
A-9 0.00 0.00 0.00 0.00 0.00 0.00
A-10 1,049,002.00 1,049,002.00 0.00 0.00 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00 0.00
AP 1,332.08 1,329.25 2.56 1.11 0.00 0.00
AX 0.00 0.00 0.00 0.00 0.00 0.00
M 8,186,879.00 8,174,883.58 6,142.51 0.00 0.00 0.00
B-1 3,313,736.00 3,308,880.71 2,486.25 0.00 0.00 0.00
B-2 1,754,331.00 1,751,760.55 1,316.25 0.00 0.00 0.00
B-3 1,364,480.00 1,362,480.76 1,023.75 0.00 0.00 0.00
B-4 974,628.00 973,199.97 731.25 0.00 0.00 0.00
B-5 974,629.18 973,201.15 731.25 0.00 0.00 0.00
Totals $389,851,349.26 $374,171,083.80 $281,149.14 $9,185,144.53 $0.00 $0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Total
Ending
Ending
Total
Principal
Certificate
Certificate
Principal
Class
Reduction
Balance
Percentage
Distribution
<S> <C> <C> <C> <C>
A-1 $5,996,775.05 $159,572,377.64 0.90924432 $5,996,775.05
A-2 $0.00 $40,501,000.00 1.00000000 $0.00
A-3 $0.00 $11,012,000.00 1.00000000 $0.00
A-4 $0.00 $37,328,133.00 1.00000000 $0.00
A-5 $2,079,450.64 $69,957,975.98 0.92682819 $2,079,450.64
A-6 $0.00 $23,954,379.00 1.00000000 $0.00
A-7 $1,258,807.28 $1,634,703.44 0.32837668 $1,258,807.28
A-8 $118,825.77 $3,161,918.03 0.90924432 $118,825.77
A-9 $0.00 $0.00 0.00000000 $0.00
A-10 $0.00 $1,049,002.00 1.00000000 $0.00
A-R $0.00 $0.00 0.00000000 $0.00
AP $3.67 $1,325.58 0.99512041 $3.67
AX $0.00 $0.00 0.00000000 $0.00
M $6,142.51 $8,168,741.07 0.99778451 $6,142.51
B-1 $2,486.25 $3,306,394.46 0.99778451 $2,486.25
B-2 $1,316.25 $1,750,444.30 0.99778451 $1,316.25
B-3 $1,023.75 $1,361,457.01 0.99778451 $1,023.75
B-4 $731.25 $972,468.72 0.99778451 $731.25
B-5 $731.25 $972,469.90 0.99778451 $731.25
Totals $9,466,293.67 $364,704,790.13 0.93549706 $9,466,293.67
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original
Beginning
Scheduled
Unscheduled
Face
Certificate
Principal
Principal
Class (2)
Amount
Balance
Distribution
Distribution
Accretion
<S> <C> <C> <C> <C> <C>
A-1 175,500,000.00 943.41397544 0.97123419 33.19842427 0.00000000
A-2 40,501,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3 11,012,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-4 37,328,133.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-5 75,481,062.00 954.37749167 .78305801 26.76624489 0.00000000
A-6 23,954,379.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-7 4,978,135.00 581.24392368 7.18746679 245.67977566 0.00000000
A-8 3,477,523.00 943.41397598 0.97123441 33.19842313 0.00000000
A-9 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-10 1,049,002.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
AP 1,332.08 997.87550297 1.92180650 0.83328329 0.00000000
AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
M 8,186,879.00 998.53479940 0.75028714 0.00000000 0.00000000
B-1 3,313,736.00 998.53479879 0.75028608 0.00000000 0.00000000
B-2 1,754,331.00 998.53479760 0.75028601 0.00000000 0.00000000
B-3 1,364,480.00 998.53479714 0.75028582 0.00000000 0.00000000
B-4 974,628.00 998.53479481 0.75028626 0.00000000 0.00000000
B-5 974,629.18 998.53479659 0.75028535 0.00000000 0.00000000
<FN>
(2) Per $1000 Denomination
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Total
Ending
Ending
Total
Realized
Principal
Certificate
Certificate
Principal
Class
Loss (3)
Reduction
Balance
Percentage
Distribution
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 34.16965840 909.24431704 0.90924432 34.16965840
A-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
A-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
A-4 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
A-5 0.00000000 27.54930290 926.82818877 0.92682819 27.54930290
A-6 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
A-7 0.00000000 252.86724446 328.37667922 0.32837668 252.86724446
A-8 0.00000000 34.16965754 909.24431844 0.90924432 34.16965754
A-9 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-10 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
AP 0.00000000 2.75508978 995.12041319 0.99512041 2.75508978
AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M 0.00000000 0.75028714 997.78451227 0.99778451 0.75028714
B-1 0.00000000 0.75028608 997.78451271 0.99778451 0.75028608
B-2 0.00000000 0.75028601 997.78451159 0.99778451 0.75028601
B-3 0.00000000 0.75028582 997.78451132 0.99778451 0.75028582
B-4 0.00000000 0.75028626 997.78450855 0.99778451 0.75028626
B-5 0.00000000 0.75028535 997.78451123 0.99778451 0.75028535
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Beginning
Payment of
Original
Current
Certificate/
Current
Unpaid
Current
Face
Certificate
Notional
Accrued
Interest
Interest
Class
Amount
Rate
Balance
Interest
Shortfall
Shortfall
<S> <C> <C> <C> <C> <C> <C>
A-1 175,500,000.00 6.75000% 165,569,152.69 931,326.48 0.00 0.00
A-2 40,501,000.00 6.75000% 40,501,000.00 227,818.12 0.00 0.00
A-3 11,012,000.00 6.75000% 11,012,000.00 61,942.50 0.00 0.00
A-4 37,328,133.00 6.75000% 37,328,133.00 209,970.75 0.00 0.00
A-5 75,481,062.00 6.65000% 72,037,426.62 399,207.41 0.00 0.00
A-6 23,954,379.00 6.75000% 23,954,379.00 134,743.38 0.00 0.00
A-7 4,978,135.00 6.75000% 2,893,510.72 16,276.00 0.00 0.00
A-8 3,477,523.00 8.50000% 3,280,743.80 23,238.60 0.00 0.00
A-9 0.00 6.75000% 216,658.09 1,218.70 0.00 0.00
A-10 1,049,002.00 6.75000% 1,049,002.00 5,900.64 0.00 0.00
A-R 100.00 6.75000% 0.00 0.00 0.00 0.00
AP 1,332.08 0.00000% 1,329.25 0.00 0.00 0.00
AX 0.00 6.75000% 42,781,222.70 240,644.38 0.00 0.00
M 8,186,879.00 6.75000% 8,174,883.58 45,983.72 0.00 0.00
B-1 3,313,736.00 6.75000% 3,308,880.71 18,612.45 0.00 0.00
B-2 1,754,331.00 6.75000% 1,751,760.55 9,853.65 0.00 0.00
B-3 1,364,480.00 6.75000% 1,362,480.76 7,663.95 0.00 0.00
B-4 974,628.00 6.75000% 973,199.97 5,474.25 0.00 0.00
B-5 974,629.18 6.75000% 973,201.15 5,474.26 0.00 0.00
Totals 389,851,349.26 2,345,349.24 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining
Ending
Non-Supported
Total
Unpaid
Certificate/
Interest
Realized
Interest
Interest
Notional
Class
Shortfall
Losses (4)
Distribution
Shortfall
Balance
<S> <C> <C> <C> <C> <C>
A-1 0.00 0.00 931,326.48 0.00 159,572,377.64
A-2 0.00 0.00 227,818.12 0.00 40,501,000.00
A-3 0.00 0.00 61,942.50 0.00 11,012,000.00
A-4 0.00 0.00 209,970.75 0.00 37,328,133.00
A-5 0.00 0.00 399,207.41 0.00 69,957,975.98
A-6 0.00 0.00 134,743.38 0.00 23,954,379.00
A-7 0.00 0.00 16,276.00 0.00 1,634,703.44
A-8 0.00 0.00 23,238.60 0.00 3,161,918.03
A-9 0.00 0.00 1,218.70 0.00 216,658.09
A-10 0.00 0.00 5,900.64 0.00 1,049,002.00
A-R 0.00 0.00 0.00 0.00 0.00
AP 0.00 0.00 0.00 0.00 1,325.58
AX 0.00 0.00 240,644.38 0.00 41,232,642.99
M 0.00 0.00 45,983.72 0.00 8,168,741.07
B-1 0.00 0.00 18,612.45 0.00 3,306,394.46
B-2 0.00 0.00 9,853.65 0.00 1,750,444.30
B-3 0.00 0.00 7,663.95 0.00 1,361,457.01
B-4 0.00 0.00 5,474.25 0.00 972,468.72
B-5 0.00 0.00 5,474.26 0.00 972,469.90
Totals 0.00 0.00 2,345,349.24 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Beginning
Payment of
Original
Current
Certificate/
Current
Unpaid
Current
Face
Certificate
Notional
Accrued
Interest
Interest
Class (5)
Amount
Rate
Balance
Interest
Shortfall
Shortfall
<S> <C> <C> <C> <C> <C> <C>
A-1 175,500,000.00 6.75000% 943.41397544 5.30670359 0.00000000 0.00000000
A-2 40,501,000.00 6.75000% 1000.00000000 5.62499988 0.00000000 0.00000000
A-3 11,012,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-4 37,328,133.00 6.75000% 1000.00000000 5.62500005 0.00000000 0.00000000
A-5 75,481,062.00 6.65000% 954.37749167 5.28884199 0.00000000 0.00000000
A-6 23,954,379.00 6.75000% 1000.00000000 5.62499992 0.00000000 0.00000000
A-7 4,978,135.00 6.75000% 581.24392368 3.26949751 0.00000000 0.00000000
A-8 3,477,523.00 8.50000% 943.41397598 6.68251511 0.00000000 0.00000000
A-9 0.00 6.75000% 1000.00000000 5.62499189 0.00000000 0.00000000
A-10 1,049,002.00 6.75000% 1000.00000000 5.62500357 0.00000000 0.00000000
A-R 100.00 6.75000% 0.00000000 0.00000000 0.00000000 0.00000000
AP 1,332.08 0.00000% 997.87550297 0.00000000 0.00000000 0.00000000
AX 0.00 6.75000% 942.24223897 5.30011265 0.00000000 0.00000000
M 8,186,879.00 6.75000% 998.53479940 5.61675823 0.00000000 0.00000000
B-1 3,313,736.00 6.75000% 998.53479879 5.61675704 0.00000000 0.00000000
B-2 1,754,331.00 6.75000% 998.53479760 5.61675647 0.00000000 0.00000000
B-3 1,364,480.00 6.75000% 998.53479714 5.61675510 0.00000000 0.00000000
B-4 974,628.00 6.75000% 998.53479481 5.61675839 0.00000000 0.00000000
B-5 974,629.18 6.75000% 998.53479659 5.61676185 0.00000000 0.00000000
<FN>
(5)All Classes are Per $1000 Denomination
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Remaining
Ending
Non-Supported
Total
Unpaid
Certificate/
Interest
Realized
Interest
Interest
Notional
Class
Shortfall
Losses (6)
Distribution
Shortfall
Balance
<S> <C> <C> <C> <C> <C>
A-1 0.00000000 0.00000000 5.30670359 0.00000000 909.24431704
A-2 0.00000000 0.00000000 5.62499988 0.00000000 1000.00000000
A-3 0.00000000 0.00000000 5.62500000 0.00000000 1000.00000000
A-4 0.00000000 0.00000000 5.62500005 0.00000000 1000.00000000
A-5 0.00000000 0.00000000 5.28884199 0.00000000 926.82818877
A-6 0.00000000 0.00000000 5.62499992 0.00000000 1000.00000000
A-7 0.00000000 0.00000000 3.26949751 0.00000000 328.37667922
A-8 0.00000000 0.00000000 6.68251511 0.00000000 909.24431844
A-9 0.00000000 0.00000000 5.62499189 0.00000000 1000.00000000
A-10 0.00000000 0.00000000 5.62500357 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
AP 0.00000000 0.00000000 0.00000000 0.00000000 995.12041319
AX 0.00000000 0.00000000 5.30011265 0.00000000 908.13528454
M 0.00000000 0.00000000 5.61675823 0.00000000 997.78451227
B-1 0.00000000 0.00000000 5.61675704 0.00000000 997.78451271
B-2 0.00000000 0.00000000 5.61675647 0.00000000 997.78451159
B-3 0.00000000 0.00000000 5.61675510 0.00000000 997.78451132
B-4 0.00000000 0.00000000 5.61675839 0.00000000 997.78450855
B-5 0.00000000 0.00000000 5.61676185 0.00000000 997.78451123
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
<FN>
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 11,892,713.31
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 11,892,713.31
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 81,070.40
Payment of Interest and Principal 11,811,642.91
Total Withdrawals (Pool Distribution Amount) 11,892,713.31
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 77,952.31
Trustee Fee 3,118.09
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 81,070.40
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current
Unpaid
Number
Principal
Number
Unpaid
Of Loans
Balance
Of Loans
Balance
<S> <C> <C> <C> <C>
30 Days 27 10,413,902.07 2.412869% 2.855433%
60 Days 0 0.00 0.000000% 0.000000%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 27 10,413,902.07 2.412869% 2.855433%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 0.00
</TABLE>
<TABLE>
<CAPTION>
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Current
Next
Original $ Original %
Current $
Current %
Class%
Prepayment%
<S> <C> <C> <C> <C> <C> <C> <C>
Class A 16,568,683.18 4.25000021% 16,531,975.46 4.53297459% 95.467025% 0.000000%
Class M 8,381,804.18 2.15000004% 8,363,234.39 2.29315178% 2.239823% 49.411766%
Class B-1 5,068,068.18 1.30000016% 5,056,839.93 1.38655704% 0.906595% 19.999996%
Class B-2 3,313,737.18 0.85000018% 3,306,395.63 0.90659507% 0.479962% 10.588234%
Class B-3 1,949,257.18 0.50000011% 1,944,938.62 0.53329122% 0.373304% 8.235295%
Class B-4 974,629.18 0.25000021% 972,469.90 0.26664577% 0.266645% 5.882350%
Class B-5 0.00 0.00000000% 0.00 0.00000000% 0.266646% 5.882358%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 149,777.00 0.03841900% 0.00 0.00000000%
Fraud 7,797,027.00 2.00000000% 0.00 0.00000000%
Special Hazard 2,294,187.00 0.58847738% 0.00 0.00000000%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
Collateral Description Fixed 30 Year
<S> <C>
Weighted Average Gross Coupon 7.781103%
Weighted Average Net Coupon 7.531103%
Weighted Average Pass-Through Rate 7.521103%
Weighted Average Maturity (Stepdown Calculation) 0
Beginning Scheduled Collateral Loan Count 1,145
Number of Loans Paid in Full 26
Ending Scheduled Collateral Loan Count 1,119
Beginning Scheduled Collateral Balance 374,171,083.81
Ending Scheduled Collateral Balance 364,704,790.14
Ending Actual Collateral Balance at 31-Mar-1998 364,704,790.14
Monthly P&I Constant 0.00
Class A Optimal Amount $11,703,777.48
Class AP Deferred Amount ($1.83)
Unpaid Principal Balance of Outstanding Mortgage
Loans with Original LTV:
Less than or equal to 80% 0.00
Greater than 80%, less than or equal to 85% 0.00
Greater than 85%, less than or equal to 95% 0.00
Greater than 95% 0.00
</TABLE>
|
|