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<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Act of 1934
Date of Report (Date of earliest event reported): August 5, 1996
OLYMPIC FINANCIAL LTD.
as Servicer with respect to
OLYMPIC AUTOMOBILE RECEIVABLES TRUST, 1996-A
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 33-97608 41-1831697
- ------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification No.)
7825 Washington Avenue South, Minneapolis, Minnesota 55439-2435
---------------------------------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code: (612) 942-9880
--------------------------
Not Applicable
- ------------------------------------------------------------------------------
(Former name or former address, if changed since last report
<PAGE>
Item 1. CHANGES IN CONTROL OF REGISTRANT.
Not applicable.
Item 2. ACQUISITION OR DISPOSITION OF ASSETS.
Not applicable.
Item 3. BANKRUPTCY OR RECEIVERSHIP.
Not applicable.
Item 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS.
Not applicable.
Item 5. OTHER EVENTS.
Pursuant to the Sale and Servicing Agreement, dated as of March 1,
1996 (the "Agreement"), among Olympic Automobile Receivables
Trust, 1996-A (the "Trust"), as Issuer, Olympic Receivables
Finance Corp., as Seller, Olympic Financial Ltd., in its individual
capacity and as Servicer, and Norwest Bank Minnesota, National
Association, as Backup Servicer, Norwest Bank Minnesota, National
Association, as Indenture Trustee (the "Indenture Trustee"), made
distributions to the Note Distribution Account and to the
Certificate Distribution Account for distribution to the holders
of notes representing indebtedness of the Trust (the
"Noteholders") and to the holders of certificates representing
interests in the Trust (the "Certificateholders"), respectively,
and Mellon Bank, not in its individual capacity but as Owner
Trustee (the "Owner Trustee"), delivered to Certificateholders
and the Indenture Trustee delivered to Noteholders, respectively,
statements required by Section 4.9 of the Agreement, which
statements were prepared from information contained in the
Servicer's Certificate delivered to the Indenture Trustee and the
Owner Trustee pursuant to Section 3.9 of the Agreement and attached
hereto as Exhibit 99.1.
Item 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
Not applicable.
<PAGE>
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
The following exhibit is filed herewith. The exhibit number
corresponds with Item 601(b) of Regulation S-K.
Exhibit No. Description
----------- -----------
99.1 Servicer's Certificate, dated August 15, 1996,
delivered to the Trustee
<PAGE>
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.
August 15, 1996 OLYMPIC AUTOMOBILE RECEIVABLES TRUST,
1996-A
By OLYMPIC FINANCIAL LTD.,
as Servicer with respect to Olympic
Automobile Receivables Trust, 1996-A
By: /s/ Brian S. Anderson
------------------------------------
Brian S. Anderson
Senior Vice President and Corporate
Controller
<PAGE>
INDEX TO EXHIBITS
Exhibit Number Page
- -------------- ----
99.1 Servicer's Certificate, dated August 15, 1996, 6
delivered to the Trustee
<PAGE>
Olympic Automobile Receivables Trust 1996 - A
Monthly Servicer's Certificate
Accounting Date: August 31, 1996
Determination Date: September 5, 1996
Distribution Date: September 15, 1996
Monthly Period Ending: August 31, 1996
This Certificate is delivered pursuant to Section 3.9 of the Sale and
Servicing Agreement, dated as of March 1, 1996, among Olympic Automobile
Receivables Trust, 1996-A (the "Trust"), Olympic Receivables Finance Corp.,
as seller, Olympic Financial Ltd., in its individual capacity and as
Servicer, and Norwest Bank Minnesota, National Association, as Backup
Servicer (the "Sale and Servicing Agreement"). Terms used and not
otherwise defined herein have the meaning assigned them in the Sale and
Servicing Agreement.
Olympic Financial Ltd., as Servicer under the Sale and Servicing Agreement,
hereby certifies that the following information is true and correct for the
Distribution Date and the Monthly Period set forth above.
<TABLE>
<CAPTION>
I. Collection Account Summary
<S> <C>
Available Funds:
Payments Received $20,197,674.90
Liquidation Proceeds (excluding Purchase Amounts) $939,216.73
Current Monthly Advances $1,108,225.97
Amount of withdrawal, if any, from the Reserve Account $0.00
Monthly Advance Recoveries ($755,034.56)
Purchase Amounts-Warranty and Administrative Receivables $16,709.00
Purchase Amounts - Liquidated Receivables $0.00
Income from investment of funds in Trust Accounts $59,442.94
------------------
Total Available Funds $21,566,234.98
-----------------
-----------------
Amounts Payable on Distribution Date:
Reimbursement of Monthly Advances $0.00
Backup Servicer Fee $0.00
Basic Servicing Fee $432,510.41
Trustee and other fees $0.00
Class A-1 Interest Distributable Amount $0.00
Class A-2 Interest Distributable Amount $769,246.50
Class A-3 Interest Distributable Amount $498,750.00
Class A-4 Interest Distributable Amount $609,375.00
Class A-5 Interest Distributable Amount $250,000.00
Class A-6 Interest Distributable Amount $87,725.00
Noteholders' Principal Distributable Amount $15,945,679.20
Certificate Interest Distributable Amount $256,900.63
Certificate Principal Distributable Amount $1,784,964.09
Amounts owing and not paid to Security Insurer under
Insurance Agreement $0.00
Supplemental Servicing Fees (not otherwise paid to Servicer) $0.00
Spread Account Deposit $931,084.16
------------------
Total Amounts Payable on Distribution Date $21,566,234.98
-----------------
-----------------
Page 1
<PAGE>
II. Available Funds
Collected Funds (see V)
Payments Received $20,197,674.90
Liquidation Proceeds (excluding Purchase Amounts) $939,216.7 $21,136,891.63
------------------
Purchase Amounts $16,709.00
Monthly Advances
Monthly Advances - current Monthly Period (net) $353,191.41
Monthly Advances - Outstanding Monthly Advances
not otherwise reimbursed to the Servicer $0.00 $353,191.41
------------------
Purchase Amounts
Income from investment of funds in Trust Accounts $59,442.94
---------------
Available Funds $21,566,234.98
---------------
---------------
III. Amounts Payable on Distribution Date
(i)(a) Taxes due and unpaid with respect to the Trust
(not otherwise paid by OFL or the Servicer) $0.00
(i)(b) Outstanding Monthly Advances (not otherwise reimbursed
to Servicer and to be reimbursed on the Distribution Date) $0.00
(i)(c) Insurance Add-On Amounts (not otherwise reimbursed to Servicer) $0.00
(ii) Accrued and unpaid fees (not otherwise paid by OFL or the Servicer):
Owner Trustee $0.00
Administrator $0.00
Indenture Trustee $0.00
Indenture Collateral Agent $0.00
Lockbox Bank $0.00
Custodian $0.00
Backup Servicer $0.00
Collateral Agent $0.00 $0.00
------------------
(iii)(a) Basic Servicing Fee (not otherwise paid to Servicer) $432,510.41
(iii)(b) Supplemental Servicing Fees (not otherwise paid to Servicer) $0.00
(iii)(c) Servicer reimbursements for mistaken deposits or postings of checks
returned for insufficient funds (not otherwise reimbursed to Servicer) $0.00
(iv) Class A-1 Interest Distributable Amount $0.00
Class A-2 Interest Distributable Amount $769,246.50
Class A-3 Interest Distributable Amount $498,750.00
Class A-4 Interest Distributable Amount $609,375.00
Class A-5 Interest Distributable Amount $250,000.00
Class A-6 Interest Distributable Amount $87,725.00
(v) Noteholders' Principal Distributable Amount
Payable to Class A-1 Noteholders $0.00
Payable to Class A-2 Noteholders $15,945,679.20
Payable to Class A-3 Noteholders $0.00
Payable to Class A-4 Noteholders $0.00
Payable to Class A-5 Noteholders $0.00
Payable to Class A-6 Noteholders $0.00
(vi) Certificate Interest Distributable Amount $256,900.63
(vii) Unpaid principal balance of the Class A-1 Notes after deposit to the Note
Distribution Account of any funds in the Class A-1 Holdback Subaccount
(applies only on the Class A-1 Final Scheduled Distribution Date) $0.00
(viii) Certificate Principal Distributable Amount $1,784,964.09
(ix) Amounts owing and not paid to Security Insurer under Insurance Agreement $0.00
-----------------
Total amounts payable on Distribution Date $20,635,150.82
-----------------
-----------------
</TABLE>
Page 2
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
IV. Calculation of Credit Enhancement Fee ("Spread Account Deposit"); withdrawal from
Reserve Account; Deficiency Claim Amount; Pre-Funding Account Shortfall and
Class A-1 Maturity Shortfall
Spread Account deposit:
Amount of excess, if any, of Available Funds
over total amounts payable (or amount of such
excess up to the Spread Account Maximum Amount) $931,084.16
Reserve Account Withdrawal on any Determination Date:
Amount of excess, if any, of total amounts payable over Available Funds
(excluding amounts payable under item (vii) of Section III) $0.00
Amount available for withdrawal from the Reserve Account (excluding the
Class A-1 Holdback Subaccount), equal to the difference between the amount
on deposit in the Reserve Account and the Requisite Reserve Amount
(amount on deposit in the Reserve Account calculated taking into account
any withdrawals from or deposits to the Reserve Account in respect
of transfers of Subsequent Receivables) $0.00
(The amount of excess of the total amounts payable (excluding amounts
payable under item (vii) of Section III) payable over Available Funds shall be
withdrawn by the Indenture Trustee from the Reserve Account, (excluding the Class
A-1 Holdback Subaccount) to the extent of the funds available for withdrawal from
in the Reserve Account, and deposited in the Collection Account.)
Amount of withdrawal, if any, from the Reserve Account $0.00
Reserve Account Withdrawal on Determination Date for Class A-1 Final Scheduled Distribution Date:
Amount by which (a) the remaining principal balance of the Class A-1 Notes exceeds
(b) Available Funds after payment of amounts set forth in item (v) of Section III $0.00
Amount available in the Class A-1 Holdback Subaccount $0.00
(The amount by which the remaining principal balance of the Class A-1 Notes
exceeds Available Funds (after payment of amount set forth in item (v)
of Section III) shall be withdrawn by the Indenture Trustee from the Class
A-1 Holdback Subaccount, to the extent of funds available for withdrawal from
the Class A-1 Holdback Subaccount, and deposited in the Note Distribution
Account for payment to the Class A-1 Noteholders)
Amount of withdrawal, if any, from the Class A-1 Holdback Subaccount $0.00
Deficiency Claim Amount:
Amount of excess, if any, of total amounts payable over funds available for withdrawal
from Reserve Amount, the Class A-1 Holdback Subaccount and Available Funds $0.00
(on the Class A-1 Final Scheduled Distribution Date, total amounts payable will not
include the remaining principal balance of the Class A-1 Notes after giving effect to
payments made under items (v) and (vii) of Section III and pursuant to a withdrawal
from the Class A-1 Holdback Subaccount)
Pre-Funding Account Shortfall:
Amount of excess, if any, on the Distribution Date on or immediately following the end
of the Funding Period, of (a) the sum of the Class A-1 Prepayment Amount, the Class A-2
Prepayment Amount, the Class A-3 Prepayment Amount, the Class A-4 Prepayment Amount,
the Class A-5 Prepayment Amount, the Class A-6 Prepayment Amount and the
Repurchase Amount over (b) the amount on deposit in the Pre-Funding Account $0.00
Class A-1 Maturity Shortfall:
Amount of excess, if any, on the Class A-1 Final Scheduled Distribution Date, of (a)
the unpaid principal balance of the Class A-1 Notes over (b) the sum of the amounts
deposited in the Note Distribution Account under item (v) and (vii) of Section III or
pursuant to a withdrawal from the Class A-1 Holdback Subaccount. $0.00
(In the event a Deficiency Claim Amount, Pre-Funding Account Shortfall or Class A-1 Maturity
Shortfall exists, the Trustee shall deliver a Deficiency Notice to the Collateral Agent, the
Security Insurer, the Fiscal Agent, if any, the Owner Trustee and the Servicer specifying the Deficiency Claim Amount, the
Pre-Funding Account Shortfall or the Class A-1 Maturity Shortfall.)
</TABLE>
Page 3
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
V. Collected Funds
Payments Received:
Supplemental Servicing Fees $0.00
Amount allocable to interest $5,620,703.42
Amounts allocable to principal $14,576,971.48
Amount allocable to Insurance Add-On Amounts $0.00
Amount allocable to Outstanding Monthly Advances (reimbursed to the
Servicer prior to deposit in the Collection Account) $0.00
----------------
Total Payments Received $20,197,674.90
Liquidation Proceeds:
Gross amount realized with respect to Liquidated Receivables $991,062.17
Less: (i) reasonable expenses incurred by Servicer
in connection with the collection of such Liquidated
Receivables and the repossession and disposition
of the related Financed Vehicles and (ii) amounts
required to be refunded to Obligors on such Liquidated Receivables ($51,845.44)
----------------
Net Liquidation Proceeds $939,216.73
Allocation of Liquidation Proceeds:
Supplemental Servicing Fees $0.00
Amount allocable to interest $0.00
Amounts allocable to principal $0.00
Amount allocable to Insurance Add-On Amounts $0.00
Amount allocable to Outstanding Monthly Advances (reimbursed to the
Servicer prior to deposit in the Collection Account) $0.00 $0.00
---------------- ----------------
Total Collected Funds $21,136,891.63
----------------
----------------
VI. Purchase Amounts Deposited in Collection Account
Purchase Amounts - Warranty Receivables $0.00
Amount allocable to interest $0.00
Amounts allocable to principal $0.00
Amount allocable to Outstanding Monthly Advances (reimbursed to the
Servicer prior to deposit in the Collection Account) $0.00
Purchase Amounts - Administrative Receivables $16,709.00
Amount allocable to interest $0.00
Amounts allocable to principal $16,709.00
Amount allocable to Outstanding Monthly Advances (reimbursed to the
Servicer prior to deposit in the Collection Account) $0.00
---------------
Total Purchase Amounts $16,709.00
----------------
----------------
VII. Reimbursement of Outstanding Monthly Advances
Outstanding Monthly Advances $1,420,053.29
Outstanding Monthly Advances reimbursed to the Servicer prior
to deposit in the Collection Account from:
Payments received from Obligors ($755,034.56)
Liquidation Proceeds $0.00
Purchase Amounts - Warranty Receivables $0.00
Purchase Amounts - Administrative Receivables $0.00
---------------
Outstanding Monthly Advances to be netted against Monthly
Advances for the current Monthly Period ($755,034.56)
Outstanding Monthly Advances to be reimbursed out of
Available Funds on the Distribution Date ($755,034.56)
Remaining Outstanding Monthly Advances $665,018.73
Monthly Advances - current Monthly Period $1,108,225.97
----------------
Outstanding Monthly Advances - immediately following the Distribution Date $1,773,244.70
----------------
----------------
</TABLE>
Page 4
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
VIII.Calculation of Interest and Principal Payments
A. Calculation of Principal Distribution Amount
Payments received allocable to principal $14,576,971.48
Aggregate of Principal Balances as of the Accounting Date of all
Receivables that became Liquidated Receivables
during the Monthly Period $3,136,962.81
Purchase Amounts - Warranty Receivables allocable to principal $0.00
Purchase Amounts - Administrative Receivables allocable to principal $16,709.00
Amounts withdrawn from the Pre-Funding Account $0.00
Cram Down Losses $0.00
---------------
Principal Distribution Amount $17,730,643.29
---------------
---------------
B. Calculation of Class A-1 Interest Distributable Amount
Class A-1 Monthly Interest Distributable Amount:
Outstanding principal balance of the Class A-1 Notes (as of the
immediately preceding Distribution Date after distributions
of principal to Class A-1 Noteholders on such Distribution Date) $0.00
Multiplied by the Class A-1 Interest Rate 5.25%
Multiplied by 1/12 or, in case of the first Distribution Date, by 31/360 0.08333333 $0.00
---------------
Plus any unpaid Class A-1 Interest Carryover Shortfall $0.00
---------------
Class A-1 Interest Distributable Amount $0.00
---------------
---------------
C. Calculation of Class A-2 Interest Distributable Amount
Class A-2 Monthly Interest Distributable Amount:
Outstanding principal balance of the Class A-2 Notes (as of the
immediately preceding Distribution Date after distributions
of principal to Class A-2 Noteholders on such Distribution Date) $169,375,375.78
Multiplied by the Class A-2 Interest Rate 5.45%
Multiplied by 1/12 or, in case of the first Distribution Date, by 31/360 0.08333333 $769,246.50
---------------
Plus any unpaid Class A-2 Interest Carryover Shortfall $0.00
---------------
Class A-2 Interest Distributable Amount $769,246.50
---------------
---------------
D. Calculation of Class A-3 Interest Distributable Amount
Class A-3 Monthly Interest Distributable Amount:
Outstanding principal balance of the Class A-3 Notes (as of the
immediately preceding Distribution Date after distributions
of principal to Class A-3 Noteholders on such Distribution Date) $105,000,000.00
Multiplied by the Class A-3 Interest Rate 5.70%
Multiplied by 1/12 or, in case of the first Distribution Date, by 31/360 0.08333333 $498,750.00
---------------
Plus any unpaid Class A-3 Interest Carryover Shortfall $0.00
---------------
Class A-3 Interest Distributable Amount $498,750.00
---------------
---------------
E. Calculation of Class A-4 Interest Distributable Amount
Class A-4 Monthly Interest Distributable Amount:
Outstanding principal balance of the Class A-4 Notes (as of the
immediately preceding Distribution Date after distributions
of principal to Class A-4 Noteholders on such Distribution Date) $125,000,000.00
Multiplied by the Class A-4 Interest Rate 5.85%
Multiplied by 1/12 or, in case of the first Distribution Date, by 31/360 0.08333333 $609,375.00
---------------
Plus any unpaid Class A-4 Interest Carryover Shortfall $0.00
---------------
Class A-4 Interest Distributable Amount $609,375.00
---------------
---------------
</TABLE>
Page 5
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
F. Calculation of Class A-5 Interest Distributable Amount
Class A-5 Monthly Interest Distributable Amount:
Outstanding principal balance of the Class A-5 Notes (as of the
immediately preceding Distribution Date after distributions
of principal to Class A-5 Noteholders on such Distribution Date) $50,000,000.00
Multiplied by the Class A-5 Interest Rate 6.00%
Multiplied by 1/12 or, in case of the first Distribution Date, by 31/360 0.0833333 $250,000.00
---------------
Plus any unpaid Class A-5 Interest Carryover Shortfall $0.00
---------------
Class A-5 Interest Distributable Amount $250,000.00
---------------
---------------
G. Calculation of Class A-6 Interest Distributable Amount
Class A-6 Monthly Interest Distributable Amount:
Outstanding principal balance of the Class A-6 Notes (as of the
immediately preceding Distribution Date after distributions
of principal to Class A-6 Noteholders on such Distribution Date) $17,400,000.00
Multiplied by the Class A-6 Interest Rate 6.05%
Multiplied by 1/12 or, in case of the first Distribution Date, by 31/360 0.08333333 $87,725.00
---------------
Plus any unpaid Class A-6 Interest Carryover Shortfall $0.00
---------------
Class A-6 Interest Distributable Amount $87,725.00
---------------
---------------
H. Calculation of Noteholders' Interest Distributable Amount
Class A-1 Interest Distributable Amount $0.00
Class A-2 Interest Distributable Amount $769,246.50
Class A-3 Interest Distributable Amount $498,750.00
Class A-4 Interest Distributable Amount $609,375.00
Class A-5 Interest Distributable Amount $250,000.00
Class A-6 Interest Distributable Amount $87,725.00
---------------
Noteholders' Interest Distributable Amount $2,215,096.50
---------------
---------------
I. Calculation of Noteholders' Principal Distributable Amount:
Noteholders' Monthly Principal Distributable Amount:
Principal Distribution Amount $17,730,643.29
Multiplied by Noteholders' Percentage ((i) for each Distribution Date before the principal
balance of the Class A-1 Notes is reduced to zero, 100%, (ii) for the Distribution Date
on which the principal balance of the Class A-1 Notes is reduced to zero, 100% until the
principal balance of the Class A-1 Notes is reduced to zero and with respect to any
remaining portion of the Principal Distribution Amount, the initial principal balance of
the Class A-2 Notes over the Aggregate Principal Balance (plus any funds remaining on
deposit in the Pre-Funding Account) as of the Accounting Date for the preceding
Distribution Date minus that portion of the Principal Distribution Amount applied to retire
the Class A-1 Notes and (iii) for each Distribution Date thereafter, outstanding principal
balance of the Class A-2 Notes on the Determination Date over the Aggregate Principal
Balance (plus any funds remaining on deposit in the Pre-Funding Account) as of the
Accounting Date for the preceding Distribution Date) 89.93% $15,945,679.20
---------------
Unpaid Noteholders' Principal Carryover Shortfall $0.00
---------------
Noteholders' Principal Distributable Amount $15,945,679.20
---------------
---------------
J. Application of Noteholders' Principal Distribution Amount:
Amount of Noteholders' Principal Distributable Amount payable to Class A-1 Notes
(equal to entire Noteholders' Principal Distributable Amount until the principal balance
of the Class A-1 Notes is reduced to zero) $0.00
---------------
---------------
Amount of Noteholders' Principal Distributable Amount payable to Class A-2 Notes
(no portion of the Noteholders' Principal Distributable Amount is payable to the Class A-2
Notes until the principal balance of the Class A-1 Notes has been reduced to zero;
thereafter, equal to the entire Noteholders' Principal Distributable Amount) $15,945,679.20
---------------
---------------
Page 6
<PAGE>
K. Calculation of Certificate Interest Distributable Amount
Certificate Monthly Interest Distributable Amount:
Certificate Balance (as of the close of business
on the preceding Distribution Date) $52,250,974.90
Multiplied by the Certificate Pass-Through Rate 5.90%
Multiplied by 1/12 or, in case of the first Distribution Date, by 31/360 0.08333333 $256,900.63
---------------
Plus any unpaid Certificate Interest Carryover Shortfall $0.00
---------------
Certificate Interest Distributable Amount $256,900.63
---------------
---------------
L. Calculation of Certificate Principal Distributable Amount:
Certificate Monthly Principal Distributable Amount:
Principal Distribution Amount $17,730,643.29
Multiplied by Certificateholders' Percentage ((i) for each Distribution Date before
the principal balance of the Class A-1 Notes is reduced to zero, 0%, (ii) for the
Distribution Date on which the principal balance of the Class A-1 Notes is reduced
to zero, 0% until the principal balance of the Class A-1 Notes is reduced to zero
and with respect to any remaining portion of the Principal Distribution Amount, 100%
minus the Noteholders' Percentage (computed after giving effect to the retirement of
the Class A-1 Notes) and (iii) for each Distribution Date thereafter, 100% minus
Noteholders' Percentage) 10.07% $1,784,964.09
---------------
Unpaid Certificate Principal Carryover Shortfall $0.00
---------------
Certificate Principal Distributable Amount $1,784,964.09
---------------
---------------
IX. Pre-Funding Account
A. Withdrawals from Pre-Funding Account:
Amount on deposit in the Pre-Funding Account as of the preceding
Distribution Date or, in the case of the first Distribution Date,
as of the Closing Date
Pre-Funded Amount $13,860.51
---------------
$13,860.51
---------------
---------------
Less: withdrawals from the Pre-Funding Account in respect of transfers of
Subsequent Receivables to the Trust occurring on a Subsequent Transfer Date
(an amount equal to (a) $179,014,214.45 (the aggregate Principal Balance of Subsequent
Receivables transferred to the Trust) plus (b) $0 (an amount equal to $0
multiplied by (A) one less (B)((i) the Pre-Funded Amount after giving effect to transfer of
Subsequent Receivables over (ii) $0)) $0.00
Less: any amounts remaining on deposit in the Pre-Funding Account in the case of the May 1996
Distribution Date or in the case the amount on deposit in the Pre-Funding Account has been
Pre-Funding Account has been reduced to $100,000 or less as of the Distribution Date
(see B below) $0.00
---------------
Amount remaining on deposit in the Pre-Funding Account after
Distribution Date
Pre-Funded Amount $13,860.51
---------------
$13,860.51
---------------
---------------
</TABLE>
Page 7
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
IX. Pre-Funding Account (cont.)
B. Distributions to Noteholders and Certificateholders from certain withdrawals from the Pre-Funding Account:
Amount withdrawn from the Pre-Funding Account as a result of the Pre-Funded Amount not
being reduced to zero on the Distribution Date on or immediately preceding the end of the
Funding Period (May 1996 Distribution Date) or the Pre-Funded Amount being reduced
to $100,000 or less on any Distribution Date $0.00
Class A-1 Prepayment Amount (equal to the Class A-1 Noteholders' pro rata share
(based on the respective current outstanding principal balance of each class of Notes
and the current Class B Certificate Balance) of the Pre-Funded Amount as of the
Distribution Date) $0.00
Class A-2 Prepayment Amount (equal to the Class A-2 Noteholders' pro rata share
(based on the respective current outstanding principal balance of each class of Notes
and the current Class B Certificate Balance) of the Pre-Funded Amount as of the
Distribution Date) $0.00
Class A-3 Prepayment Amount (equal to the Class A-3 Noteholders' pro rata share
(based on the respective current outstanding principal balance of each class of Notes
and the current Class B Certificate Balance) of the Pre-Funded Amount as of the
Distribution Date) $0.00
Class A-4 Prepayment Amount (equal to the Class A-4 Noteholders' pro rata share
(based on the respective current outstanding principal balance of each class of Notes
and the current Class B Certificate Balance) of the Pre-Funded Amount as of the
Distribution Date) $0.00
Class A-5 Prepayment Amount (equal to the Class A-5 Noteholders' pro rata share
(based on the respective current outstanding principal balance of each class of Notes
and the current Class B Certificate Balance) of the Pre-Funded Amount as of the
Distribution Date) $0.00
Class A-6 Prepayment Amount (equal to the Class A-6 Noteholders' pro rata share
(based on the respective current outstanding principal balance of each class of Notes
and the current Class B Certificate Balance) of the Pre-Funded Amount as of the
Distribution Date) $0.00
Certificate Prepayment Amount (equal to the Certificateholders' pro rata share
(based on the respective current outstanding principal balance of each class of Notes
and the current Certificate Balance) of the Pre-Funded Amount as of the
Distribution Date) $0.00
Repurchase Amount (equal to (i) the sum of Class A-1 Prepayment Amount, Class A-2
Prepayment Amount, the Class A-3 Prepayment Amount, the Class A-4 Prepayment
Amount, the Class A-5 Prepayment Amount, the Class A-6 Prepayment
Amount and Class B Prepayment Amount over the sum current principal
balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes,
the Class A-4 Notes, the Class A-5 Notes, the Class A-6 Notes
and the Current Certificate Balance, multiplied by (ii) discounted present
value of Class I Monthly Interest Distributable Amount for each of the Planned
Notional Balances (before giving effect to any adjustment thereto) for the Distribution
Date on which the Repurchase Amount is to be paid to the June 2003
Distribution Date, discounted to present value at a rate of 5.89%) $0.00
C. Prepayment Premiums:
Class A-1 Prepayment Premium $0.00
Class A-2 Prepayment Premium $0.00
Class A-3 Prepayment Premium $0.00
Class A-4 Prepayment Premium $0.00
Class A-5 Prepayment Premium $0.00
Class A-6 Prepayment Premium $0.00
Certificate Prepayment Premium $0.00
Page 8
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
X. Reserve Account
Requisite Reserve Amount:
Portion of Requisite Reserve Amount calculated with respect to Class A-1 Notes,
Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class A-5 Notes,
Class A-6 Notes and Certificates:
Product of (x) 5.67% (weighted average interest of Class A-1 Interest Rate,
Class A-2 Interest Rate, Class A-3 Interest Rate, Class A-4 Interest Rate, Class A-5 Interest Rate
Class A-6 Interest Rate and Class B Pass-Through Rate (based on outstanding Class A-1
principal balance, Class A-2 principal balance and Certificate Balance),
divided by 360, (y) $179,014,214.15 (the Pre-Funded Amount on such Distribution Date) and
(z) 30 (the number of days until the May 1996 Distribution Date)) $0.00
Less the product of (x) 2.5% divided by 360, (y) $179,014,214.15 (the Pre-Funded Amount on such
Distribution Date) and (z) 30 (the number of days until the May 1996 Distribution Date) $0.00
------------
Requisite Reserve Amount $0.00
------------
------------
Amount on deposit in the Reserve Account (other than the Class A-1 Holdback
Subaccount) as of the preceding Distribution Date or, in the case of the first
Distribution Date, as of the Closing Date $0.00
Plus the excess, if any, of the Requisite Reserve Amount over amount on deposit in the
Reserve Account (other than the Class A-1 Holdback Subaccount) (which excess is to be
deposited by the Indenture Trustee in the Reserve Account from amounts withdrawn
from the Pre-Funding Account in respect of transfers of Subsequent Receivables) $0.00
Less: the excess, if any, of the amount on deposit in the Reserve Account (other than the Class A-1
Holdback Subaccount) over the Requisite Reserve Amount (and amount withdrawn from the
Reserve Account to cover the excess, if any, of total amounts payable over Available Funds,
which excess is to be transferred by the Indenture Trustee to or upon the order of the
General Partners from amounts withdrawn from the Pre-Funding Account in respect of
transfers of Subsequent Receivables) $0.00
Less: withdrawals from the Reserve Account (other than the Class A-1 Holdback Subaccount)
to cover the excess, if any, of total amount payable over Available Funds (see IV above) $0.00
------------
Amount remaining on deposit in the Reserve Account (other than the Class A-1 Holdback
Subaccount) after the Distribution Date $0.00
------------
------------
XI. Class A-1 Holdback Subaccount:
Class A-1 Holdback Amount:
Class A-1 Holdback Amount as of preceding Distribution Date or the Closing Date, as applicable, $0.00
Plus deposit to the Class A-1 Holdback Subaccount (equal to 2.5% of the amount, if any,
by which $0 (the Target Original Pool Balance set forth in the Sale and Servicing Agreement)
is greater than $0 (the Original Pool Balance after giving effect to the transfer of
Subsequent Receivables on the Distribution Date or on a Subsequent Transfer Date
preceding the Distribution Date)) $0.00
Less withdrawal, if any, of amount from the Class A-1 Holdback Subaccount to cover
a Class A-1 Maturity Shortfall (see IV above) $0.00
Less withdrawal, if any, of amount remaining in the Class A-1 Holdback Subaccount
on the Class A-1 Final Scheduled Maturity Date after giving effect to any payment out of
the Class A-1 Holdback Subaccount to cover a Class A-1 Maturity Shortfall (amount of
withdrawal to be released by the Indenture Trustee to the General Partners) $0.00
------------
Class A-1 Holdback Subaccount immediately following the Distribution Date $0.00
------------
------------
</TABLE>
Page 9
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
XII. Calculation of Servicing Fees
Aggregate Principal Balance as of the first day of the Montly Period $519,012,490.17
Multiplied by Basic Servicing Fee Rate 1.00%
Divided by Months per year 0.083333%
-------------------
Basic Servicing Fee $432,510.41
Less: Backup Servicer Fees (annual rate of 1 bp) $0.00
Supplemental Servicing Fees $0.00
---------------
Total of Basic Servicing Fees and Supplemental Servicing Fees $432,510.41
---------------
---------------
XIII. Information for Preparation of Statements to Noteholders
a. Aggregate principal balance of the Notes as of first day of Monthly Period
Class A-1 Notes $0.00
Class A-2 Notes $169,375,375.78
Class A-3 Notes $105,000,000.00
Class A-4 Notes $125,000,000.00
Class A-5 Notes $50,000,000.00
Class A-6 Notes $17,400,000.00
b. Amount distributed to Noteholders allocable to principal
Class A-1 Notes $0.00
Class A-2 Notes $15,945,679.20
Class A-3 Notes $0.00
Class A-4 Notes $0.00
Class A-5 Notes $0.00
Class A-6 Notes $0.00
c. Aggregate principal balance of the Notes (after giving effect to
distributions on the Distribution Date)
Class A-1 Notes $0.00
Class A-2 Notes $153,429,696.58
Class A-3 Notes $105,000,000.00
Class A-4 Notes $125,000,000.00
Class A-5 Notes $50,000,000.00
Class A-6 Notes $17,400,000.00
d. Interest distributed to Noteholders
Class A-1 Notes $0.00
Class A-2 Notes $769,246.50
Class A-3 Notes $498,750.00
Class A-4 Notes $609,375.00
Class A-5 Notes $250,000.00
Class A-6 Notes $87,725.00
e. Remaining Certificate Balance $50,466,010.81
f. 1. Class A-1 Interest Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
2. Class A-2 Interest Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
3. Class A-3 Interest Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
4. Class A-4 Interest Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
5. Class A-5 Interest Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
6. Class A-6 Interest Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
7. Certificate Interest Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
8. Class B Principal Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
Page 10
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
XIV. Information for Preparation of Statements to Noteholders (continued)
g. Amount distributed payable out of amounts withdrawn from or pursuant to:
1. Reserve Account $0.00
2. Class A-1 Holdback Subaccount $0.00
3. Claim on the Note Policy $0.00
h. Remaining Pre-Funded Amount $13,860.51
i. Remaining Reserve Amount $0.00
j. Amount on deposit on Class A-1 Holdback Subaccount $0.00
k. Prepayment amounts
Class A-1 Prepayment Amount $0.00
Class A-2 Prepayment Amount $0.00
Class A-3 Prepayment Amount $0.00
Class A-4 Prepayment Amount $0.00
Class A-5 Prepayment Amount $0.00
Class A-6 Prepayment Amount $0.00
l. Prepayment Premiums
Class A-1 Prepayment Premium $0.00
Class A-2 Prepayment Premium $0.00
Class A-3 Prepayment Premium $0.00
Class A-4 Prepayment Premium $0.00
Class A-5 Prepayment Premium $0.00
Class A-6 Prepayment Premium $0.00
m. Total of Basic Servicing Fee, Supplemental Servicing Fees and other fees, if any,
paid by the Trustee on behalf of the Trust $432,510.41
n. Note Pool Factors (after giving effect to
distributions on the Distribution Date)
Class A-1 Notes 0.00000000
Class A-2 Notes 0.82934971
Class A-3 Notes 1.00000000
Class A-4 Notes 1.00000000
Class A-5 Notes 1.00000000
Class A-6 Notes 1.00000000
XV. Information for Preparation of Statements to Certificateholders
a. Aggregate Certificate Balance as of first day of Monthly Period $52,250,974.90
b. Amount distributed to Certificateholders allocable to principal $1,784,964.09
c. Aggregate Certificate Balance (after giving effect to
distributions on the Distribution Date) $50,466,010.81
d. Interest distributed to Certificateholders $256,900.63
e. Remaining Certificate Balance $50,466,010.81
f. Aggregate principal balance of the Notes (after giving effect to
distributions on the Distribution Date)
Class A-1 Notes $0.00
Class A-2 Notes $153,429,696.58
Class A-3 Notes $105,000,000.00
Class A-4 Notes $125,000,000.00
Class A-5 Notes $50,000,000.00
Class A-6 Notes $17,400,000.00
g. 1. Class A-1 Interest Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
2. Class A-2 Interest Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
3. Class A-3 Interest Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
4. Class A-4 Interest Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
5. Class A-5 Interest Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
6. Class A-6 Interest Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
7. Certificate Interest Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
8. Certificate Principal Carryover Shortfall, if any, (and change in amount from preceding statement) $0.00
h. Amount distributed payable out of amounts withdrawn from or pursuant to:
1. Reserve Account $0.00
2. Spread Account $0.00
3. Claim on the Certificate Policy $0.00
i. Remaining Pre-Funded Amount $13,860.51
j. Remaining Reserve Amount $0.00
k. Certificate Prepayment Amount $0.00
l. Certificate Prepayment Premium $0.00
m. Total of Basic Servicing Fee, Supplemental Servicing Fees and other fees, if any,
paid by the Trustee on behalf of the Trust $432,510.41
n. Class B Pool Factor (after giving effect to distributions on the Distribution Date) 0.93455576
</TABLE>
Page 11
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
XVI. Pool Balance and Aggregate Principal Balance
Original Pool Balance at beginning of Monthly Period $599,986,139.49
Subsequent Receivables $0.00
------------------
Original Pool Balance at end of Monthly Period $599,986,139.49
------------------
------------------
Aggregate Principal Balance as of preceding Accounting Date $519,012,490.17
Aggregate Principal Balance as of current Accounting Date $501,281,846.88
Monthly Period Liquidated Receivables Monthly Period Administrative Receivables
Loan # Amount Loan # Amount
------ ------- ------- ------
see attached listing $34,381.02 6154005401 $16,709.00
$3,098,871.54 $0.00
$3,710.25 $0.00
$0.00 $0.00
$0.00 $0.00
----- -----
$3,136,962.81 $16,709.00
------------- ----------
------------- ----------
XIII. Delinquency Ratio
Sum of Principal Balances (as of the Accounting Date)
of all Receivables delinquent more than 30 days with
respect to all or any portion of a Scheduled Payment
as of the Accounting Date $16,380,129.29
Aggregate Principal Balance as of the Accounting Date $501,281,846.88
------------------
Delinquency Ratio 3.26764861%
-----------
-----------
</TABLE>
IN WITNESS WHEREOF, I, Mike Sherman, a Responsible Officer of Olympic
Financial Ltd., have executed this Certificate as of the Determination
Date set forth above.
OLYMPIC FINANCIAL LTD.
By: /s/ Michael J. Sherman
-------------------------------
Name: Michael J. Sherman
-------------------------------
Title: Vice President / Treasurer
-------------------------------
Page 12
<PAGE>
Charge Off Transactions
For 8/01/1996 Thru 8/31/1996
Control # 174
C/O Account Loan Principal
Type Number Name Charged Off
---- ---------- ------- ------------
FC 6423052501 JOHNSON 19,357.85-
FC 6423052501 JOHNSON 19,357.85
------------
TOTAL FC .00
FV 6154005401 RUSHING 16,709.00
------------
TOTAL FV 16,709.00
IS 0883000401 HERNANDEZ 7,678.20
IS 4733010401 NILES 956.43
IS 4736086301 SMITH 2,340.95
IS 5294137401 ANDREWS 307.43
IS 5298002501 PRUITT 2,042.91
IS 6366011101 GARZA 692.76
IS 6424064301 PRIER 17,979.14
IS 7565012501 ANTHLY 12.75
IS 8509026401 ROSENBALM 763.95
IS 9648043501 MAGISTRO 1,606.50
------------
TOTAL IS 34,381.02
NR 0072013101 JACKSON 3,393.76
NR 0109001301 RIGGAN 12,717.24
NR 0120012201 JOHNSON 1,230.15
NR 0421001301 FIELDS 13,467.13
NR 0436001701 RIVEROS 13,112.12
NR O588000501 PARRISH 15,982.69
NR 0618001001 IVEY 22,066.25
NR 0663000101 DAVIS 12,941.00
NR 0765000201 KOONTZ 19,055.81
NR 0968002201 WILL 13,616.55
NR 1024002501 GREEN 10,254.17
NR 27460455O1 SPOWART 9,105.03
NR 2780083401 CULVER 5,129.81
NR 2781007701 ZARAGOZA 10,463.63
NR 2815023101 FASSBENDER 5,610.99
NR 2854095801 GALLEGOS 3,397.24
NR 2910009901 SCARR 5,418.55
NR 2933003201 MUNDEN 12,567.45
NR 2941000601 COSTA 3,301.65
NR 3099002501 MCCONNELL 9,200.00
NR 3113005001 HUCKABEE 10,565.50
NR 3122008401 OLSEN 11,838.32
NR 3142001001 STAGNER 10,980.00
NR 3660189801 AINSWORTH 6,832.04
NR 4056004001 CAMACHO 9,451.25
NR 4450009401 WAGNER 21,916.50
NR 4658111901 CACCASSE 12,924.78
NR 4663027401 ARCE 12,293.00
NR 4945001301 MORGAN 9,556.92
NR 5037017101 CHANEY 11,320.33
NR 5041013301 SPEER 13,732.45
NR 5069005201 BARLOW 12,367.21
NR 5072005901 WILCOXEN 16,858.58
NR 5073002901 WHITE 20,466.36
NR 5082069801 DAVIS 11,818.84
NR 5083014401 SIMPSON 14,166.00
NR 5096020601 BATES 14,466.15
NR 5100026401 MAGOUIRK 16,296.68
NR 5118047401 MOE 19,375.41
NR 5118052001 OAKLEY 12,961.61
NR 5147049201 STEVENS 8,598.00
NR 5157028101 ANDERSON 17,416.50
NR 5167084201 MARRTOTT 15,010.00
NR 5167084401 MCKENNEY 15,639.70
NR 5167084701 NICHOLS 14,557.65
NR 5167086101 ANDREWS 14,229.18
NR 5167086201 TISDALE 16,491.64
NR 5167092301 GARRETT 14,931.33
NR 5167099401 RUMPL 18,179.56
NR 5167104301 MAYS 11,412.00
NR 5173016401 BARFIELD 13,266.44
NR 5177002101 WILBURN 9,566.16
<PAGE>
Charge Off Transactiona
For 8/01/1996 Thru 8/31/1996
Control # 174
C/O Account Loan Principal
Type Number Name Charged Off
---- ---------- ------- ------------
NR 5185008101 MOLINA 7,363.08
NR 5190065301 HAWTHORNE 16,783.23
NR 5190065401 RUSSELL 18,415.74
NR 5193012801 HARRIS 14,216.74
NR 5205005601 BAEZA 11,801.76
NR 5214024501 KIRK 12,022.20
NR 5214031101 KRAUS 8,793.56
NR 5224038301 DUNLOP 1,097.10
NR 5224038901 MELTON 12,311.01
NR 5224048001 RICHARDSON 15,195.64
NR 5224048801 NICKERSON 18,687.96
NR 5224050701 NICKERSON 17,744.78
NR 5224055801 HALLIWELL 7,835.93
NR 5224065301 SMITH 9,159.78
NR 5236003001 SEXTON 8,786.00
NR 5259005601 YARBOROUGH 6,499.00
NR 5275006101 QUINTANA 17,340.93
NR 5284014601 SHIFFLETT 12,343.96
NR 5286016101 JOHNSON 14,007.93
NR 5288037401 SELBY 11,895.01
NR 5294115601 SMITH 14,789.00
NR 5294128801 COOK 23,999.00
NR 5294142101 BEATTIE 12,414.00
NR 5294142701 PALONE 7,035.00
NR 5298000901 MCGEE 16,049.39
NR 5299005201 PICKENS 17,948.58
NR 5304013001 HARWELL 9,863.49
NR 5327024301 HUERTA 8,189.83
NR 5327024801 SALVATO 9,849.62
NR 5327035801 ASHTON 17,178.03
NR 5330022101 TUCKER 22,466.74
NR 5341000501 MCCALL 17,101.50
NR 5355000201 QUICK 5,904.17
NR 5358003201 SANCHEZ 12,118.69
NR 5362001701 FRENCH 9,683.01
NR 5371002101 MENDEZ 12,405.86
NR 5379002201 COX 14,892.77
NR 5680087401 STURGILL 26,686.09
NR 5990014201 DUNLAP 7,851.09
NR 6212018801 VARGAS 18,906.75
NR 6220070801 DUNN 26,013.44
NR 6230138801 NAFISI 3,785.98
NR 6231135101 BUNCH 16,378.12
NR 6237025901 SWEIS 17,890.51
NR 6241081001 NOVAK 17,831.12
NR 6247095601 BENNETT 9,898.51
NR 6276001501 BARRAGAN 8,092.26
NR 6276002101 LINAN 10,340.00
NR 6282013601 PRESSWOOD 17,649.75
NR 6282014101 SHUMWAY 16,905.00
NR 6296033301 STERBLING 14,837.43
NR 6297006101 NELSON 21,704.40
NR 6313029201 SAMS 15,601.35
NR 6327051801 DUCATTE 10,883.36
NR 6335019801 MARTINEZ 17,507.62
NR 6350010801 FAKE 19,525.06
NR 6351001601 MUSKE 18,930.27
NR 6421025001 CHAPA 19,135.74
NR 6421029701 CANTU 9,135.53
NR 6422019701 ESCAMILIA 12,617.21
NR 6422020001 ALFARO 16,384.55
NR 6423049901 MASSIE 16,109.42
NR 6423053701 WHITE 10,832.31
NR 6423054601 HUBBARD 15,806.59
NR 6423056001 WASHINGTON 20,845.01
NR 6424039301 MILLSAPS 21,267.68
NR 6424041901 CONWAY 20,560.19
NR 6424043001 MARTIN 18,173.42
NR 6424050401 COENSGEN 20,686.46
NR 6424050501 PORTER 24,776.33
NR 6424054401 BLACKSHIRE 19,122.71
NR 6424055101 BONAPARTE 15,101.86
NR 6424055201 SMITH 30,855.60
NR 6424066601 DORSEY 25,598.67
<PAGE>
Charge Off Transactions
For 8/01/1996 Thru 8/31/1996
Control # 174
C/O Account Loan Principal
Type Number Name Charged Off
---- ---------- ------- ------------
NR 6424067701 LEROY 24,440.14
NR 6424068301 TOWNLEY 21,601.53
NR 6424068401 PUCKETT 17,579.44
NR 6424070001 HARGRAVE 15,888.64
NR 6427005101 MORALES 26,118.26
NR 6444013101 GREEN 24,612.34
NR 6444013201 WASHINGTON 12,769.38
NR 6444018101 ALLEN 17,313.06
NR 6445009201 DIRDEN 6,747.00
NR 6445010401 DANIELS 18,387.87
NR 6445015701 BATTLES 26,269.58
NR 6446012401 COLOMB 22,266.62
NR 6446014101 BELL 15,673.50
NR 6446014801 BROWN 17,224.06
NR 6447014401 KING 15,359.72
NR 6447014601 COLBERT 17,063.80
NR 6447014801 MORTON 14,795.84
NR 6447015301 LINDSEY 5,997.27
NR 6447022401 THORN 13,294.08
NR 6470002301 ROGERS 17,211.23
NR 6470003001 MCPHERSON 8,946.91
NR 6470003401 DIGGES 19,841.15
NR 6470003601 RAWLINSON 15,969.84
NR 6620018301 RUBY 5,977.50
NR 6620018901 STEVENSON 16,387.50
NR 6704043501 OGLE 16,051.29
NR 6704045501 LAMBSON 12,586.21
NR 6727003001 OWENS 10,672.17
NR 7010022001 RUFF 17,286.11
NR 7060087401 JAMES 7,953.19
NR 7060095601 WANTLAND 8,503.08
NR 7060103701 GLASS 11,893.95
NR 7060107001 ELZIE 12,025.63
NR 7090039201 HAIRE 15,608.36
NR 7105010801 BETTENCOUR 8,451.76
NR 7116106001 DOUGLAS 9,782.50
NR 7118016501 PIKE 8,409.00
NR 7123019601 GRAFF 6,496.60
NR 7131023901 OSORIO 12,261.51
NR 7172188401 HILL 21,534.00
NR 7172209101 RICO 5,085.00
NR 7181006401 POPARD 8,055.21
NR 7197026001 WENDELL 12,359.15
NR 7258010601 WILSON 32,259.21
NR 7258011201 FERGUSON 11,825.09
NR 7264014101 HAYES 21,222.92
NR 7268007201 ATKINS 10,512.66-
NR 7268007201 ATKINS 11,412.86
NR 7275001701 SANDERS 5,031.04
NR 7306014101 BAUTISTA 10,894.16
NR 7315005901 HARTUNG 24,110.64
NR 7365006501 VASQUEZ-QU 13,504.00
NR 7365009101 KISER 16,757.52
NR 7365010201 BAUMAN 10,790.00
NR 7365010901 BICKLING 9,636.16
NR 7394000401 PIRISINO 5,690.03
NR 7414000201 WESTIN 14,l33.89
NR 7466001401 DONAHUE l6,795.86
NR 7544088101 PRICE 14,809.17
NR 7573012401 TEAGUE 8,194.35
NR 7616027501 BROCK 13,618.84
NR 7635007901 SIMS 16,884.78
NR 7654014601 RUSS 20,500.00
NR 7674001801 SMITH 9,967.20
NR 7698001601 NICHOLS 10,494.04
NR 7709005301 JOHNSON 9,527.18
NR 7724003801 WILLIAMS 5,347.19
NR 7743000101 WILSON 13,998.00
NR 7743000301 SCHMIDT 15,993.22
NR 8089046401 ROMERO 17,734.17
NR 8093011401 TUCSON 10,891.89
NR 8130004101 LUCERO 24,485.99
NR 8218007001 CLONINGER 16,196.61
NR 8218007701 BARO 15,067.67
<PAGE>
Charge Off Transactions
For 8/01/1996 Thru 8/31/1996
Control # 174
C/O Account Loan Principal
Type Number Name Charged Off
---- ---------- ------- ------------
NR 8241002101 JOHNSON 11,114.83
NR 8477011001 JACKSON 13,772.35
NR 8486005901 CAVENDER 11,871.12
NR 8486006801 PRYOR 18,094.06
NR 8486008501 WISEMAN 12,838.17
NR 8509025401 GOINS 17,922.51
NR 8509026501 LAWSON 20,336.88
NR 9250043101 TUCKER 6,854.65
NR 9279006101 DENMAN 9,477.83
NR 9328036001 TURNER 19,089.10
NR 9364098501 EVERETT 12,845.10
NR 9375072501 PETERS 26,734.24
NR 9383020901 CAPELL 11,847.01
NR 9384013401 SCOTT 9,079.37
NR 9393011401 MUTSCHLER 14,623.62
NR 9599006001 THROWER 12,835.01
NR 9601037801 GOMEZ 19,539.51
NR 9601038901 MARSHALL 22,203.92
NR 9630024501 BARNES 23,947.58
NR 9648044901 GRIFFIN 13,897.96
------------
TOTAL NR 3,098,871.54
------------
TOTAL RI .00
RR 6424046701 JOHNSON 21,569.45-
RR 6424046701 JOHNSON 21,569.45
------------
TOTAL RR .00
SB 0100010101 DANKO 483.16
SB 0498000501 HERRING 23.96
SB 0510002501 MARSHALL 7.07
SB 0590002501 AKRE 1.07
SB 0722000401 HANLEY 10.56
SB 1520002601 BROWN 2.62
SB 2723103301 PEACH 15.03
SB 2746043601 HURTADO 37.86
SB 2780086501 MANALO 11.60
SB 2780102501 BELTRAN 172.96
SB 2854096401 KNOPS 10.32
SB 2929003201 PARROTT 30.09
SB 3100012301 CASSIDY 5.39
SB 4009014501 GAULRAPP 33.36
SB 4082000201 JENKINS 112.79
SB 4911002501 ROTONDO 58.84
SB 4911002701 PROKUP 57.53
SB 4981001201 ODELL 15.24
SB 5044026301 SWINDELHUR 42.35
SB 5082078801 TURNER 20.16
SB 5348005201 JACKSON 270.00
SB 5368006801 ABBOTT 16.90
SB 6080007701 ACOFF 88.26
SB 6166006001 BETTENCOUR 129.20
SB 6264034101 GREER 12.12
SB 6302060201 GRABBERT 170.10
SB 6341002401 SALINAS 309.37
SB 6364018201 HAMMACK 22.53
SB 6447016301 PAYNE 663.56
SB 6554000801 COWAN 13.30
SB 6613075901 OVERKAMP 75.14
SB 6630012401 LEOME 10.76
SB 6754006301 GUDIC 4.98
SB 6870003201 TYLER 12.66
SB 6870003501 TRAM 8.20
SB 7126019201 SALOIS 18.97
SB 7168031001 SCHOENING 25.25
SB 7174009001 MCQUEEN 10.08
SB 7255004001 GERMANN 147.21
SB 7282018001 ROMERO 150.52
SB 7331004401 VONDERHAAR 19.80
SB 7355003301 GRAHAM 29.56
SB 7361015701 QUINTANELL 55.52
<PAGE>
Charge Off Transactions
For 8/01/1996 Thru 8/31/1996
Control # 174
C/O Account Loan Principal
Type Number Name Charged Off
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SB 7375002601 MORALES 20.85
SB 7465028201 TURNER 11.97
SB 7677007501 BROOKS 16.55
SB 8016043501 SULLIVAN 10.30
SB 9003000501 SPENCE 203.32
SB 9334040101 WARTHEN 19.52
SB 9629018701 BURGESS .06
SB 9664022601 WHITE 11.73
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TOTAL SB 3,710.25
TOTAL FOR CTL # 174 3,153,671.81
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