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Previous: INSURED MUNICIPALS INCOME TRUST 209TH INSURED MULTI SERIES, 497J, 1996-11-20 |
Next: OLYMPIC RECEIVABLES FINANCE CORP, 8-K, 1996-11-20 |
<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): October 5, 1996
OLYMPIC FINANCIAL LTD.
as Servicer with respect to
OLYMPIC AUTOMOBILE RECEIVABLES TRUST, 1996-B
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 33-97608 41-1840460
- ------------------------------------------------------------------------------
(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 June 1,
1996 (the "Agreement"), among Olympic Automobile Receivables
Trust, 1996-B (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 October 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.
October 15, 1996 OLYMPIC AUTOMOBILE RECEIVABLES TRUST,
1996-B
By OLYMPIC FINANCIAL LTD.,
as Servicer with respect to Olympic
Automobile Receivables Trust, 1996-B
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 October 15, 1996, 6
delivered to the Trustee
<PAGE>
OLYMPIC AUTOMOBILE RECEIVABLES TRUST 1996 - B
MONTHLY SERVICER'S CERTIFICATE
Accounting Date: SEPTEMBER 30, 1996
Determination Date: OCTOBER 5, 1996
Distribution Date: OCTOBER 15, 1996
Monthly Period Ending: SEPTEMBER 30, 1996
This Certificate is delivered pursuant to Section 3.9 of the Sale and
Servicing Agreement, dated as of June 1, 1996, among Olympic Automobile
Receivables Trust, 1996-B (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> <C>
Available Funds:
Payments Received $21,190,754.85
Liquidation Proceeds (excluding Purchase Amounts) $512,762.24
Current Monthly Advances $1,189,033.17
Amount of withdrawal, if any, from the Reserve Account $0.00
Monthly Advance Recoveries ($1,186,624.62)
Purchase Amounts-Warranty and Administrative Receivables $81,369.21
Purchase Amounts - Liquidated Receivables $0.00
Income from investment of funds in Trust Accounts $72,946.54
-----------------
Total Available Funds $21,860,241.39
----------------
----------------
Amounts Payable on Distribution Date:
Reimbursement of Monthly Advances $0.00
Backup Servicer Fee $0.00
Basic Servicing Fee $506,712.56
Trustee and other fees $0.00
Class A-1 Interest Distributable Amount $121,073.37
Class A-2 Interest Distributable Amount $1,117,150.00
Class A-3 Interest Distributable Amount $687,700.00
Class A-4 Interest Distributable Amount $652,077.50
Class A-5 Interest Distributable Amount $318,665.00
Noteholders' Principal Distributable Amount $16,442,709.10
Certificate Interest Distributable Amount $336,375.00
Certificate Principal Distributable Amount $0.00
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 $1,677,778.86
-----------------
Total Amounts Payable on Distribution Date $21,860,241.39
-----------------
- ----------------
</TABLE>
Page 1
<PAGE>
<TABLE>
<CAPTION>
II. Available Funds
<S> <C> <C>
Collected Funds (see V)
Payments Received $21,190,754.85
Liquidation Proceeds (excluding Purchase Amounts) $512,762.24 $21,703,517.09
-----------------
Purchase Amounts $81,369.21
Monthly Advances
Monthly Advances - current Monthly Period (net) $2,408.55
Monthly Advances - Outstanding Monthly Advances
not otherwise reimbursed to the Servicer $0.00 $2,408.55
-----------------
Income from investment of funds in Trust Accounts $72,946.54
----------------
Available Funds $21,860,241.39
----------------
----------------
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) $506,712.56
(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 $121,073.37
Class A-2 Interest Distributable Amount $1,117,150.00
Class A-3 Interest Distributable Amount $687,700.00
Class A-4 Interest Distributable Amount $652,077.50
Class A-5 Interest Distributable Amount $318,665.00
(v) Noteholders' Principal Distributable Amount
Payable to Class A-1 Noteholders $16,442,709.10
Payable to Class A-2 Noteholders $0.00
Payable to Class A-3 Noteholders $0.00
Payable to Class A-4 Noteholders $0.00
Payable to Class A-5 Noteholders $0.00
(vi) Certificate Interest Distributable Amount $336,375.00
(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 $0.00
(ix) Amounts owing and not paid to Security Insurer under Insurance Agreement $0.00
----------------
Total amounts payable on Distribution Date $20,182,462.53
----------------
----------------
</TABLE>
Page 2
<PAGE>
<TABLE>
<CAPTION>
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
<S> <C> <C>
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) $1,677,778.86
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>
V. Collected Funds
<S> <C> <C>
Payments Received:
Supplemental Servicing Fees $0.00
Amount allocable to interest $7,115,361.96
Amounts allocable to principal $14,075,392.89
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 $21,190,754.85
Liquidation Proceeds:
Gross amount realized with respect to Liquidated Receivables $525,140.80
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 ($12,378.56)
-----------------
Net Liquidation Proceeds $512,762.24
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 $21,703,517.09
----------------
----------------
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 $81,369.21
Amount allocable to interest $0.00
Amounts allocable to principal $81,369.21
Amount allocable to Outstanding Monthly Advances (reimbursed to the
Servicer prior to deposit in the Collection Account) $0.00
----------------
Total Purchase Amounts $81,369.21
----------------
----------------
VII. Reimbursement of Outstanding Monthly Advances
Outstanding Monthly Advances $1,729,213.59
Outstanding Monthly Advances reimbursed to the Servicer prior
to deposit in the Collection Account from:
Payments received from Obligors ($1,186,624.62)
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 ($1,186,624.62)
Outstanding Monthly Advances to be reimbursed out of
Available Funds on the Distribution Date ($1,186,624.62)
Remaining Outstanding Monthly Advances $542,588.97
Monthly Advances - current Monthly Period $1,189,033.17
----------------
Outstanding Monthly Advances - immediately following the Distribution Date $1,731,622.14
----------------
----------------
</TABLE>
Page 4
<PAGE>
<TABLE>
<S> <C> <C>
VIII. Calculation of Interest and Principal Payments
A. Calculation of Principal Distribution Amount
Payments received allocable to principal $14,075,392.89
Aggregate of Principal Balances as of the Accounting Date of all
Receivables that became Liquidated Receivables
during the Monthly Period $2,285,947.00
Purchase Amounts - Warranty Receivables allocable to principal $0.00
Purchase Amounts - Administrative Receivables allocable to principal $81,369.21
Amounts withdrawn from the Pre-Funding Account $0.00
Cram Down Losses $0.00
----------------
Principal Distribution Amount $16,442,709.10
----------------
----------------
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) $26,955,110.13
Multiplied by the Class A-1 Interest Rate 5.390%
Multiplied by 1/12 or, in case of the first Distribution Date, by 31/360 0.08333333 $121,073.37
----------------
Plus any unpaid Class A-1 Interest Carryover Shortfall $0.00
----------------
Class A-1 Interest Distributable Amount $121,073.37
----------------
----------------
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) $223,430,000.00
Multiplied by the Class A-2 Interest Rate 6.00%
Multiplied by 1/12 or, in case of the first Distribution Date, by 31/360 0.08333333 $1,117,150.00
-----------------
Plus any unpaid Class A-2 Interest Carryover Shortfall $0.00
-----------------
Class A-2 Interest Distributable Amount $1,117,150.00
-----------------
-----------------
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) $126,960,000.00
Multiplied by the Class A-3 Interest Rate 6.50%
Multiplied by 1/12 or, in case of the first Distribution Date, by 31/360 0.08333333 $687,700.00
-----------------
Plus any unpaid Class A-3 Interest Carryover Shortfall $0.00
----------------
Class A-3 Interest Distributable Amount $687,700.00
----------------
----------------
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) $116,790,000.00
Multiplied by the Class A-4 Interest Rate 6.70%
Multiplied by 1/12 or, in case of the first Distribution Date, by 31/360 0.08333333 $652,077.50
----------------
Plus any unpaid Class A-4 Interest Carryover Shortfall $0.00
----------------
Class A-4 Interest Distributable Amount $652,077.50
----------------
----------------
</TABLE>
Page 5
<PAGE>
<TABLE>
<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) $55,420,000.00
Multiplied by the Class A-5 Interest Rate 6.90%
Multiplied by 1/12 or, in case of the first Distribution Date, by 31/360 0.08333333 $318,665.00
-----------------
Plus any unpaid Class A-5 Interest Carryover Shortfall $0.00
-----------------
Class A-5 Interest Distributable Amount $318,665.00
-----------------
-----------------
H. Calculation of Noteholders' Interest Distributable Amount
Class A-1 Interest Distributable Amount $121,073.37
Class A-2 Interest Distributable Amount $1,117,150.00
Class A-3 Interest Distributable Amount $687,700.00
Class A-4 Interest Distributable Amount $652,077.50
Class A-5 Interest Distributable Amount $318,665.00
Noteholders' Interest Distributable Amount $2,896,665.87
--------------
--------------
I. Calculation of Noteholders' Principal Distributable Amount:
Noteholders' Monthly Principal Distributable Amount:
Principal Distribution Amount $16,442,709.10
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)
100.00% $16,442,709.10
---------------
Unpaid Noteholders' Principal Carryover Shortfall $0.00
-----------------
Noteholders' Principal Distributable Amount $16,442,709.10
-----------------
-----------------
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) $16,442,709.10
-----------------
-----------------
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) $0.00
-----------------
-----------------
</TABLE>
Page 6
<PAGE>
<TABLE>
<S> <C> <C>
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) $58,500,000.00
Multilpied by the Certificate Pass-Through Rate 6.90%
Multiplied by 1/12 or, in case of the first Distribution Date, by 31/360 0.08333333 $336,375.00
-----------------
Plus any unpaid Certificate Interest Carryover Shortfall $0.00
-----------------
Certificate Interest Distributable Amount $336,375.00
-----------------
-----------------
L. Calculation of Certificate Principal Distributable Amount:
Certificate Monthly Principal Distributable Amount:
Principal Distribution Amount $16,442,709.10
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) 0.00% $0.00
-----------------
Unpaid Certificate Principal Carryover Shortfall $0.00
-----------------
Certificate Principal Distributable Amount $0.00
-----------------
-----------------
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 Disrtibution Date,
as of the Closing Date
Pre-Funded Amount $0.00
-----------------
$0.00
-----------------
-----------------
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) $0 (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 November 1995
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 $0.00
-----------------
$0.00
-----------------
-----------------
</TABLE>
Page 7
<PAGE>
<TABLE>
<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 (November 1995 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
Certificate Prepayment Premium $0.00
</TABLE>
Page 8
<PAGE>
<TABLE>
<S>
X. Reserve Account
Requisite Reserve Amount:
<C>
Portion of Requisite Recerve 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,
and Certificates:
Product of (x) 6.62% (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
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) $191,232,566.29 (the Pre-Funded Amount on such Distribution Date) and
(z) 30 (the number of days until the August 1996 Distribution Date)) $0.00
Less the product of (x) 2.5% divided by 360, (y) $191,232,566.29 (the Pre-Funded Amount on such
Distribution Date) and (z) 30 (the number of days until the August 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 IndentureTrustee 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>
<S> <C> <C> <C>
XII. Calculation of Servicing Fees
Aggregate Principal Balance as of the first day of the Monthly Period $608,055,076.36
Multiplied by Basic Servicing Fee Rate 1.00%
Divided by Months per year 0.083333%
----------------
Basic Servicing Fee $506,712.56
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 $506,712.56
-----------------
-----------------
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 $26,955,110.13
Class A-2 Notes $223,430,000.00
Class A-3 Notes $126,960,000.00
Class A-4 Notes $116,790,000.00
Class A-5 Notes $55,420,000.00
b. Amount distributed to Noteholders allocable to principal
Class A-1 Notes $16,442,709.10
Class A-2 Notes $0.00
Class A-3 Notes $0.00
Class A-4 Notes $0.00
Class A-5 Notes $0.00
c. Aggregate principal balance of the Notes (after giving effect to
distributions on the Distribution Date)
Class A-1 Notes $10,512,401.03
Class A-2 Notes $223,430,000.00
Class A-3 Notes $126,960,000.00
Class A-4 Notes $116,790,000.00
Class A-5 Notes $55,420,000.00
d. Interest distributed to Noteholders
Class A-1 Notes $121,073.37
Class A-2 Notes $1,117,150.00
Class A-3 Notes $687,700.00
Class A-4 Notes $652,077.50
Class A-5 Notes $318,665.00
e. Remaining Certificate Balance $58,500,000.00
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
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
</TABLE>
Page 10
<PAGE>
<TABLE>
<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 $0.00
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
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
m. Total of Basic Servicing Fee, Supplemental Servicing Fees and other fees, if any,
paid by the Trustee on behalf of the Trust $506,712.56
n. Note Pool Factors (after giving effect to distributions on the
Distribution Date)
Class A-1 Notes 0.15257476
Class A-2 Notes 1.00000000
Class A-3 Notes 1.00000000
Class A-4 Notes 1.00000000
Class A-5 Notes 1.00000000
XV. Information for Preparation of Statements to Certificateholders
a. Aggregate Certificate Balance as of first day of Monthly Period $58,500,000.00
b. Amount distributed to Certificateholders allocable to principal $0.00
c. Aggregate Certificate Balance (after giving effect to
distributions on the Distribution Date) $58,500,000.00
d. Interest distributed to Certificateholders $336,375.00
e. Remaining Certificate Balance $58,500,000.00
f. Aggregate principal balance of the Notes (after giving effect to
distributions on the Distribution Date)
Class A-1 Notes $10,512,401.03
Class A-2 Notes $223,430,000.00
Class A-3 Notes $126,960,000.00
Class A-4 Notes $116,790,000.00
Class A-5 Notes $55,420,000.00
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
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 $0.00
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 $506,712.56
n. Class B Pool Factor (after giving effect to distributions on the Distribution Date) 1.00000000
</TABLE>
Page 11
<PAGE>
<TABLE>
<S> <C>
XVI. Pool Balance and Aggregate Principal Balance
Original Pool Balance at beginning of Monthly Period $649,999,966.23
Subsequent Receivables $0.00
-----------------
Original Pool Balance at end of Monthly Period $649,999,966.23
-----------------
-----------------
Aggregate Principal Balance as of preceding Accounting Date $608,055,076.36
Aggregate Principal Balance as of current Accounting Date $591,612,367.26
<C> <C>
Monthly Period Liquidated Receivables Monthly Period Adminsitrative Receivables
LOAN # AMOUNT LOAN # AMOUNT
------ ------ ------ ------
see attached listing $9,300.95 see attached listing $81,369.21
$2,298,066.66 $0.00
($24,754.81) $0.00
-----------------
$3,334.20 $81,369.21
--------- -----------------
-----------------
$2,285,947.00
-------------
-------------
XVIII. 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 $17,986,569.58
Aggregate Principal Balance as of the Accounting Date $591,612,367.26
-----------------
Delinquency Ratio 3.04026261%
-----------------
-----------------
</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>
Olympic Financial LTD Page: 29
Charge Off Transactions RP2050R
For 9/01/1996 Thru 9/30/1996
Control # 175
C/O Account Loan Principal
Type Number Name Charged Off
---- ---------- ------------- -----------
FC 0008029901 HALE 22,743.00
FC 2770016601 ALLEN 12,528.96
FC 5099007401 TUNSTALL 16,181.39
FC 7365013101 TEDDERS 18,127.50
FC 9434004801 EDWARDS 164.66-
FC 9434004801 EDWARDS 11,953.02
-----------
TOTAL FC 81,369.21
IS 0665000901 FERNANDEZ 217.50
IS 6479000801 ESCAJEDA 4,926.51
IS 8509027701 TERRY 4,156.94
-----------
TOTAL IS 9,300.95
NR 0072016001 SAYERS 5,419.19
NR 0075006801 LAWRENCE 19,499.64
NR 0318014101 JOHNSON 9,034.35
NR 0362002601 ULLERY 13,331.64
NR 0519000601 TAYLOR 13,239.36
NR 0666001801 ATKINSON 22,099.58
NR 0732003301 TORSRUD 9,893.24
NR 0764000801 FLAISHANS 17,700.00
NR 0795000701 HOWELL 16,069.89
NR 0815002501 EMBODY 21,762.34
NR 0817009001 GUERRERO 14,490.00
NR 0817012301 DEAN 14,614.13
NR 0931000401 SIMS 17,272.99
NR 0968009701 POLTERA 6,512.09
NR 0968010501 HERNANDEZ 9,367.57
NR 1004008701 TIPTON 17,075.82
NR 1158000701 GELGELU 5,785.17
NR 1200029101 KAPPHAHN 14,641.58
NR 1371002701 MILAZZO 1,458.14
NR 1393002501 WOOD 6,826.42
NR 1393006701 WRIGHT 26,713.81
NR 1393009101 MARKS 11,589.73
NR 1412001301 ROJAS 17,463.50
NR 1416000501 WATTS 15,604.45
NR 1424000801 BRADLEY 17,160.94
NR 1424003601 SIMEONE 15,044.38
NR 1450048401 STARKS 8,199.15
NR 1521000901 CLARKE 15,027.78
NR 1531001701 JAMES 7,795.00
NR 1535000401 SPORS 4,851.03
NR 1537004101 STAMPER 14,268.32
NR 1588000501 KEMP 14,408.10
NR 1592000101 COWARD 15,798.58
NR 1597001001 STOVER 17,192.78
NR 1634000901 LESTER 13,200.00
NR 1659000401 BLACKWELL 7,238.00
NR 2740081801 RICE 19,675.11
NR 2740085201 WEISS 11,764.71
NR 2746050401 THOMAS 23,985.03
NR 2776016001 CARTER 13,924.87
NR 2933007301 LANE 14,431.96
NR 2946006201 PYTEREK 20,761.23
NR 3052005601 MORRIS 15,695.02
NR 3094005101 UPDIKE 6,609.00
NR 4658139201 CALDWELL 13,817.95
NR 4869002801 WILSON 29,467.15
NR 5039019501 CLARK 24,534.03
NR 5044028301 BATSON 20,067.65
NR 5067017901 PHILLIPS 24,071.89
NR 5082090601 GARCIA 9,263.49
NR 5117014801 PRITCHETT 32,122.94
NR 5118058901 MENDOZA 16,744.19
NR 5155020801 RIVERA 10,920.20
NR 5155021701 MOSS 19,013.59
NR 5224080001 CRYER 11,298.67
NR 5259006901 PIZANA 13,879.39
NR 5288045701 DECKARD 14,206.50
NR 5288047601 WRIGHT 15,536.50
NR 5293020301 SPIVEY 16,029.26
<PAGE>
10/01/96 Olympic Financial LTD Page: 30
18:52:47 Charge Off Transactions RP205OR
for 9/01/1996 Thru 9/30/1996
Control # 175
C/O Account Loan Principal
Type Number Name Charged Off
---- ---------- ------------- -----------
NR 5294152301 SANTELIZ 13,229.48
NR 5294154001 ANDERSON 7,913.25
NR 5294154201 LECHNER 12,479.00
NR 5294158901 NOEL 11,827.81
NR 5333012201 MARROW 18,917.29
NR 5333012401 CAMPBELL 12,367.84
NR 5386007001 WILLIAMS 15,817.66
NR 5580078601 DOMINGUEZ 16,605.28
NR 6212021201 GARCIA 16,868.85
NR 6247089201 MOORE 24,273.44
NR 6247104901 SOLIS 12,233.25
NR 6247113901 MARIN 21,019.02
NR 6247114701 GIBBS 10,962.81
NR 6258023301 CARTER 15,403.66
NR 6260010801 STEWART 9,696.21
NR 6282016101 DRANE 7,952.57
NR 6422026501 SIGIFREDO 18,729.57
NR 6423059801 RUIZ 17,500.48
NR 6423062301 MORRIS 13,884.08
NR 6423065601 JACKSON 27,474.45
NR 6423067701 SILVA 13,767.89
NR 6423069801 ROBERTSON 16,325.79
NR 6423071201 THOMPSON 18,685.91
NR 6424055301 HERRIN 26,815.03
NR 6424055701 FIELDS 29,080.53
NR 6424058201 HOOD 15,070.29
NR 6424072901 SPENCER 17,341.58
NR 6424076801 HEADS 9,434.01
NR 6424077301 BURSON 26,863.84
NR 6424078701 JACKSON 18,406.03
NR 6424079501 DOUCH 13,455.53
NR 6424080501 SHELTON 24,269.07
NR 6424080601 CLARK 10,199.39
NR 6424081701 JONES 11,984.08
NR 6424084501 BANCROFT 22,570.80
NR 6424088301 PLUMBER 10,002.16
NR 6424089301 JOHNSON 5,392.36-
NR 6424089301 JOHNSON 5,392.36
NR 6424092701 MCCLAHAN 20,943.74
NR 6424093101 PILOT 12,100.56
NR 6445018301 HENRY 13,791.65
NR 6446019401 SEALS 21,830.12
NR 6446023901 GOUDEAU 16,145.13
NR 6446025701 SCOTT 11,956.40
NR 6447009201 SHELLEY 11,261.44
NR 6447023801 BROWN 19,810.81
NR 6468003501 HALL 12,662.39
NR 6470000301 LASTER 15,040.19
NR 6472004001 MEDINA 18,878.00
NR 6672009901 HALBERT 5,858.50
NR 6704054301 SMALLEY 14,894.24
NR 6859013401 HOLLY 6,254.26
NR 7060104401 SAQIB 31,614.74
NR 7080088801 JENKINS 9,470.54
NR 7174011901 HERNANDEZ 12,260.30
NR 7282022801 MCREYNOLDS 15,558.92
NR 7305009001 LANA 11,926.28
NR 7365018301 ROUB 6,640.00
NR 7365019701 STROZINSKY 12,163.71
NR 7365021301 WASIAK 2,817.83
NR 7544103201 WHEELER 13,281.23
NR 7600004101 LONG 11,504.00
NR 7616033901 GARCIA 16,277.92
NR 7722001901 OGLE 16,263.76
NR 7728001501 LEE 16,104.55
NR 7732000501 HILL 15,549.71
NR 8017062201 SEARLE 11,068.95
NR 8017063801 WILEY 16,557.25
NR 8054012901 RUBIO 11,417.52
NR 8060029001 BEJAR 11,772.41
NR 8081023001 LIMON 19,048.68
NR 8146007801 CHAVEZ 13,942.00
NR 8152019101 LINCOLN 19,182.04
NR 8218010201 ALSTON 16,148.03
<PAGE>
10/01/96 Olympic Financial LTD Page: 31
18:52:47 Charge Off Transactions RP205OR
for 9/01/1996 Thru 9/30/1996
Control # 175
C/O Account Loan Principal
Type Number Name Charged Off
---- ---------- ------------- -----------
NR 8403020701 TATE 16,495.31
NR 8409039601 WOODALL 10,204.94
NR 8422004901 DAVIS 17,381.05
NR 8440003201 SMITH 12,479.89
NR 8509031901 EBERHARDT 12,652.65
NR 8555001201 FOSTER 10,023.29
NR 8564003301 THOMAS 13,099.85
NR 8569004901 SPRADLIN 16,559.81
NR 9294006401 MIRANDA 11,441.85
NR 9294007301 BRETZ 12,791.06
NR 9294007801 ZANTTZ 14,805.21
NR 9315035001 CRUCE 13,824.61
NR 9329010601 CORNELIUS 12,052.35
NR 9334042801 RAY 16,722.63
NR 9360006001 CARPENTER 7,320.79
NR 9363009001 ADAMS 14,141.33
NR 9453002301 SHEPPARD 13,520.34
NR 9646013801 SHARPE 17,614.44
NR 9650062501 MANLY 15,784.75
NR 9723125801 JOHNSON 9,799.19
NR 9723127901 HIGHTOWER 11,202.28
NR 9723128401 GIBBONS 15,037.68
NR 9893009901 HARRILL 14,058.73
NR 9997000301 WELLER 12,157.88
------------
TOTAL NR 2,298,066.66
RR 1189001701 HAGERTY 52.11-
RR 7146017401 MENEFEE 24,702.70-
------------
TOTAL RR 24,754.81-
SB 0327002601 LUDERFINGE 165.96
SB 0396004301 CHERRY 41.01
SB 0666001101 HENINGER 10.32
SB 0814003101 PHIPPS 10.79
SB 0817007001 LADKINS 16.58
SB 0817012901 GOODWIN 43.30
SB 1098000901 WALLACE 24.59
SB 1376001401 ALLEN 17.37
SB 1855000401 BENNETT 126.96
SB 2740084001 HERRON 28.50
SB 2748053501 SCHWITTERS 31.08
SB 2758012501 DECOLA 16.79
SB 2824004701 OLIVER 51.30
SB 2882016101 HOCKEMIER 29.91
SB 5020042801 ADELSTEIN .56
SB 5046001701 CROSSLAND 23.75
SB 6156003601 WEST 16.66
SB 6247126901 PEREZ 287.58
SB 6247129001 NORRIS 207.29
SB 6402005001 MARTIN 18.36
SB 6422027101 CARDENAS 244.80
SB 6472003701 OREA 150.19
SB 6660024801 GOODWIN 11.03
SB 6705007201 KINGREY 2.00
SB 6809001001 GROESCH 13.84
SB 6814009401 STEPHENS 4.93
SB 6965003301 LATCH 36.70
SB 6990003001 COOPER 20.08
SB 6991003001 SCHWARTZ 131.75
SB 7151017601 PARASKI 115.26
SB 7288003201 ROWLAND 23.40
SB 7302010301 VANDOLAH 89.85
SB 7410015801 COOK 30.64
SB 7472006001 LAMBE 6.25
SB 7499007401 SMITH 8.40
SB 7574011901 DUER 20.98
SB 7698002301 DRANE 6.64
SB 8111000601 WHEELER 22.20
SB 8129007001 CARRILLO 15.10
SB 8139018301 DOMINGUEZ 246.38
SB 8153005601 JIM 10.44
SB 8227003001 ESPARZA 11.72
<PAGE>
10/01/96 Olympic Financial LTD Page: 32
18:52:47 Charge Off Transactions RP205OR
for 9/01/1996 Thru 9/30/1996
Control # 175
C/O Account Loan Principal
Type Number Name Charged Off
---- ---------- ------------- -----------
SB 8239004701 GONZALES 18.81
SB 8474019201 STONE 3.68
SB 9331026201 REAVES 30.50
SB 9371070001 DEGRENIER 308.16
SB 9502002301 DAWKINS 404.39
SB 9673012401 CASTEEL 23.08
SB 9707009001 ABBOTT 61.03
SB 9723128701 ROSS 16.20
SB 9730023101 COSBY 15.19
SB 9951005401 BUTLER 15.53
SB 9990028101 BARBER 45.92
SB 9990048801 BARNES .47
------------
TOTAL SB 3,334.20
TOTAL FOR CTL # 175 2,367,316.21
------------
------------
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