|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: HOMESIDE MORTGAGE SECURITIES INC /DE/, 8-K, 1998-08-07 |
Next: ENVIROGEN INC, 10-Q, 1998-08-07 |
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): July 27, 1998
HOMESIDE MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-1 Trust
New York (governing law of 033-34957 52-2008829
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
jurisdiction
c/o Norwest Bank Minnesota, N.A.
7485 New Horizon Way 21703
Frederick, MD (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (301) 696-7900
Former name or former address, if changed since last report)
ITEM 5. Other Events
On July 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 July 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: 8/3/1998
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 July 27,
1998 distribution.
<TABLE>
<CAPTION>
Homeside Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Record Date: 6/30/1998
Distribution Date: 7/27/1998
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: (301) 815-6600
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% 151,974,729.85 854,857.86 3,338,773.41
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% 67,323,404.34 373,083.87 1,157,758.03
A-6 437609AF7 TAC 6.75000% 23,954,379.00 134,743.38 661,004.91
A-7 437609AG5 SEQ 6.75000% 39,850.50 224.16 39,850.50
A-8 437609AH3 SEQ 8.50000% 3,011,371.05 21,330.54 66,157.61
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 RES 6.75000% 0.00 0.00 0.00
PO 437609AU4 PO 0.00000% 1,317.95 0.00 2.17
AX 437609AM2 IO 6.75000% 0.00 221,054.64 0.00
M 437609AN0 SUB 6.75000% 8,156,316.66 45,879.28 6,287.05
B-1 437609AP5 SUB 6.75000% 3,301,365.53 18,570.18 2,544.76
B-2 437609AQ3 SUB 6.75000% 1,747,781.93 9,831.27 1,347.22
B-3 437609AR1 SUB 6.75000% 1,359,386.28 7,646.55 1,047.84
B-4 437609AS9 SUB 6.75000% 970,989.63 5,461.82 748.46
B-5 437609AT7 SUB 6.75000% 970,991.55 5,461.83 748.46
Totals 352,702,019.27 2,204,996.09 5,276,270.42
</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 0.00 148,635,956.44 4,193,631.27 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 66,165,646.30 1,530,841.90 0.00
A-6 0.00 23,293,374.09 795,748.29 0.00
A-7 0.00 0.00 40,074.66 0.00
A-8 0.00 2,945,213.43 87,488.15 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
PO 0.00 1,315.78 2.17 0.00
AX 0.00 0.00 221,054.64 0.00
M 0.00 8,150,029.61 52,166.33 0.00
B-1 0.00 3,298,820.78 21,114.94 0.00
B-2 0.00 1,746,434.70 11,178.49 0.00
B-3 0.00 1,358,338.43 8,694.39 0.00
B-4 0.00 970,241.17 6,210.28 0.00
B-5 0.00 970,243.11 6,210.29 0.00
Totals 0.00 347,425,748.84 7,481,266.51 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-1 175,500,000.00 151,974,729.85 164,380.75 3,174,392.66 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 67,323,404.34 57,000.91 1,100,757.12 0.00 0.00
A-6 23,954,379.00 23,954,379.00 32,543.83 628,461.08 0.00 0.00
A-7 4,978,135.00 39,850.50 1,961.99 37,888.51 0.00 0.00
A-8 3,477,523.00 3,011,371.05 3,257.20 62,900.42 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
PO 1,332.08 1,317.95 1.32 0.85 0.00 0.00
AX 0.00 0.00 0.00 0.00 0.00 0.00
M 8,186,879.00 8,156,316.66 6,287.05 0.00 0.00 0.00
B-1 3,313,736.00 3,301,365.53 2,544.76 0.00 0.00 0.00
B-2 1,754,331.00 1,747,781.93 1,347.22 0.00 0.00 0.00
B-3 1,364,480.00 1,359,386.28 1,047.84 0.00 0.00 0.00
B-4 974,628.00 970,989.63 748.46 0.00 0.00 0.00
B-5 974,629.18 970,991.55 748.46 0.00 0.00 0.00
Totals 389,851,349.26 352,702,019.27 271,869.79 5,004,400.64 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 3,338,773.41 148,635,956.44 0.84692853 3,338,773.41
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 1,157,758.03 66,165,646.30 0.87658605 1,157,758.03
A-6 661,004.91 23,293,374.09 0.97240568 661,004.91
A-7 39,850.50 0.00 0.00000000 39,850.50
A-8 66,157.61 2,945,213.43 0.84692853 66,157.61
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
PO 2.17 1,315.78 0.98776350 2.17
AX 0.00 0.00 0.00000000 0.00
M 6,287.05 8,150,029.61 0.99549897 6,287.05
B-1 2,544.76 3,298,820.78 0.99549897 2,544.76
B-2 1,347.22 1,746,434.70 0.99549897 1,347.22
B-3 1,047.84 1,358,338.43 0.99549897 1,047.84
B-4 748.46 970,241.17 0.99549897 748.46
B-5 748.46 970,243.11 0.99549976 748.46
Totals 5,276,270.42 347,425,748.84 0.89117493 5,276,270.42
</TABLE>
<TABLE>
<CAPTION>
Component Distribution Summary
Beginning Current Ending
Certificate Certificate Interest Principle Realized Certificate
Component Pass-Through Rate Balance Distribution Distribution Loss Balance
<S> <C> <C> <C> <C> <C> <C>
A5#1 6.65000% 52,698,983.33 292,040.20 1,157,758.03 0.00 51,541,225.30
A5#2 6.65000% 14,624,421.00 81,043.67 0.00 0.00 14,624,421.00
A7#1 6.75000% 39,850.50 224.16 39,850.50 0.00 0.00
A7#2 6.75000% 0.00 0.00 0.00 0.00 0.00
Totals 67,363,254.83 373,308.02 1,197,608.53 0.00 66,165,646.30
</TABLE>
<TABLE>
<CAPTION>
Component Distribution Summary (Cont.)
Total Cumulative
Component Distribution Realized Loss
<S> <C> <C>
A5#1 1,449,798.23 0.00
A5#2 81,043.67 0.00
A7#1 40,074.66 0.00
A7#2 0.00 0.00
Totals 1,570,916.55 0.00
</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-1 175,500,000.00 865.95287664 0.93664245 18.08770746 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 75,481,062.00 891.92444510 0.75516836 14.58322248 0.00000000
A-6 23,954,379.00 1000.00000000 1.35857540 26.23574921 0.00000000
A-7 4,978,135.00 8.00510633 0.39412149 7.61098484 0.00000000
A-8 3,477,523.00 865.95287795 0.93664370 18.08770783 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
PO 1,332.08 989.39252898 0.99093148 0.63809981 0.00000000
AX 0.00 0.00000000 0.00000000 0.00000000 0.00000000
M 8,186,879.00 996.26691197 0.76794222 0.00000000 0.00000000
B-1 3,313,736.00 996.26691143 0.76794289 0.00000000 0.00000000
B-2 1,754,331.00 996.26691314 0.76793946 0.00000000 0.00000000
B-3 1,364,480.00 996.26691487 0.76794090 0.00000000 0.00000000
B-4 974,628.00 996.26691415 0.76794428 0.00000000 0.00000000
B-5 974,629.18 996.26767793 0.76794335 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 19.02434991 846.92852672 0.84692853 19.02434991
A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-5 0.00000000 15.33839084 876.58605413 0.87658605 15.33839084
A-6 0.00000000 27.59432461 972.40567539 0.97240568 27.59432461
A-7 0.00000000 8.00510633 0.00000000 0.00000000 8.00510633
A-8 0.00000000 19.02434865 846.92852643 0.84692853 19.02434865
A-9 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
PO 0.00000000 1.62903129 987.76349769 0.98776350 1.62903129
AX 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
M 0.00000000 0.76794222 995.49896975 0.99549897 0.76794222
B-1 0.00000000 0.76794289 995.49897155 0.99549897 0.76794289
B-2 0.00000000 0.76793946 995.49896798 0.99549897 0.76793946
B-3 0.00000000 0.76794090 995.49896664 0.99549897 0.76794090
B-4 0.00000000 0.76794428 995.49896986 0.99549897 0.76794428
B-5 0.00000000 0.76794335 995.49975510 0.99549976 0.76794335
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, 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% 151,974,729.85 854,857.86 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% 67,323,404.34 373,083.87 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% 39,850.50 224.16 0.00 0.00
A-8 3,477,523.00 8.50000% 3,011,371.05 21,330.54 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
PO 1,332.08 0.00000% 1,317.95 0.00 0.00 0.00
AX 0.00 6.75000% 39,298,603.53 221,054.64 0.00 0.00
M 8,186,879.00 6.75000% 8,156,316.66 45,879.28 0.00 0.00
B-1 3,313,736.00 6.75000% 3,301,365.53 18,570.18 0.00 0.00
B-2 1,754,331.00 6.75000% 1,747,781.93 9,831.27 0.00 0.00
B-3 1,364,480.00 6.75000% 1,359,386.28 7,646.55 0.00 0.00
B-4 974,628.00 6.75000% 970,989.63 5,461.82 0.00 0.00
B-5 974,629.18 6.75000% 970,991.55 5,461.83 0.00 0.00
Totals 389,851,349.26 2,204,996.09 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 0.00 854,857.86 0.00 148,635,956.44
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 0.00 373,083.87 0.00 66,165,646.30
A-6 0.00 0.00 134,743.38 0.00 23,293,374.09
A-7 0.00 0.00 224.16 0.00 0.00
A-8 0.00 0.00 21,330.54 0.00 2,945,213.43
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
PO 0.00 0.00 0.00 0.00 1,315.78
AX 0.00 0.00 221,054.64 0.00 38,667,571.49
M 0.00 0.00 45,879.28 0.00 8,150,029.61
B-1 0.00 0.00 18,570.18 0.00 3,298,820.78
B-2 0.00 0.00 9,831.27 0.00 1,746,434.70
B-3 0.00 0.00 7,646.55 0.00 1,358,338.43
B-4 0.00 0.00 5,461.82 0.00 970,241.17
B-5 0.00 0.00 5,461.83 0.00 970,243.11
Totals 0.00 0.00 2,204,996.09 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, 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% 865.95287664 4.87098496 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% 891.92444510 4.94274802 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% 8.00510633 0.04502891 0.00000000 0.00000000
A-8 3,477,523.00 8.50000% 865.95287795 6.13383147 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
PO 1,332.08 0.00000% 989.39252898 0.00000000 0.00000000 0.00000000
AX 0.00 6.75000% 865.53870698 4.86865512 0.00000000 0.00000000
M 8,186,879.00 6.75000% 996.26691197 5.60400123 0.00000000 0.00000000
B-1 3,313,736.00 6.75000% 996.26691143 5.60400104 0.00000000 0.00000000
B-2 1,754,331.00 6.75000% 996.26691314 5.60399947 0.00000000 0.00000000
B-3 1,364,480.00 6.75000% 996.26691487 5.60400299 0.00000000 0.00000000
B-4 974,628.00 6.75000% 996.26691415 5.60400481 0.00000000 0.00000000
B-5 974,629.18 6.75000% 996.26767793 5.60400829 0.00000000 0.00000000
<FN>
(5)All Classes are Per $1000 Denomination
</FN>
</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 4.87098496 0.00000000 846.92852672
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 4.94274802 0.00000000 876.58605413
A-6 0.00000000 0.00000000 5.62499992 0.00000000 972.40567539
A-7 0.00000000 0.00000000 0.04502891 0.00000000 0.00000000
A-8 0.00000000 0.00000000 6.13383147 0.00000000 846.92852643
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
PO 0.00000000 0.00000000 0.00000000 0.00000000 987.76349769
AX 0.00000000 0.00000000 4.86865512 0.00000000 851.64043562
M 0.00000000 0.00000000 5.60400123 0.00000000 995.49896975
B-1 0.00000000 0.00000000 5.60400104 0.00000000 995.49897155
B-2 0.00000000 0.00000000 5.60399947 0.00000000 995.49896798
B-3 0.00000000 0.00000000 5.60400299 0.00000000 995.49896664
B-4 0.00000000 0.00000000 5.60400481 0.00000000 995.49896986
B-5 0.00000000 0.00000000 5.60400829 0.00000000 995.49975510
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,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 7,557,685.08
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 7,557,685.08
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 76,418.58
Payment of Interest and Principal 7,481,266.50
Total Withdrawals (Pool Distribution Amount) 7,557,685.08
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 73,479.55
Trustee Fee 2,939.03
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 76,418.58
</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 8 2,681,958.25 0.746269% 0.771951%
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 8 2,681,958.25 0.746269% 0.771951%
</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% 16,494,107.80 4.74752026% 95.252462% 0.000000%
Class M 8,381,804.18 2.15000004% 8,344,078.19 2.40168675% 2.345842% 49.411764%
Class B-1 5,068,068.18 1.30000016% 5,045,257.41 1.45218293% 0.949507% 19.999995%
Class B-2 3,313,737.18 0.85000018% 3,298,822.71 0.94950438% 0.502680% 10.588234%
Class B-3 1,949,257.18 0.50000011% 1,940,484.28 0.55853209% 0.390974% 8.235295%
Class B-4 974,629.18 0.25000021% 970,243.11 0.27926632% 0.279267% 5.882350%
Class B-5 0.00 0.00000000% 0.00 0.00000000% 0.279267% 5.882362%
<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% 149,777.00 0.04311051%
Fraud 7,797,027.00 2.00000000% 7,797,027.00 2.24422831%
Special Hazard 2,294,187.00 0.58847738% 2,294,187.00 0.66033879%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed 30 Year
Weighted Average Gross Coupon 7.762070%
Weighted Average Pass-Through Rate 7.502070%
Weighted Average Maturity(Stepdown Calculation ) 353
Begin Scheduled Collateral Loan Count 1,084
Number Of Loans Paid In Full 12
End Scheduled Collateral Loan Count 1,072
Begining Scheduled Collateral Balance 352,702,019.27
Ending Scheduled Collateral Balance 347,425,748.84
Ending Actual Collateral Balance at 30-Jun-1998 347,425,748.84
Monthly P &I Constant 0.00
Class A Optimal Amount 7,375,689.63
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 347,425,748.86
Scheduled Principal 271,869.79
Unscheduled Principal 5,004,400.64
</TABLE>
|
|