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Previous: OLYMPIC RECEIVABLES FINANCE CORP, 8-K, 1996-11-20 |
Next: VAN KAMPEN AMERICAN CAPITAL EQUITY OPPORTUNITY TRUST SER 45, 497J, 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-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 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-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 October 15, 1996, 6
delivered to the Trustee
<PAGE>
OLYMPIC AUTOMOBILE RECEIVABLES TRUST 1996 - A
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 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> <C>
Available Funds:
Payments Received $17,829,866.65
Liquidation Proceeds (excluding Purchase Amounts) $1,668,582.82
Current Monthly Advances $963,659.81
Amount of withdrawal, if any, from the Reserve Account $0.00
Monthly Advance Recoveries ($972,165.37)
Purchase Amounts-Warranty and Administrative Receivables $0.00
Purchase Amounts - Liquidated Receivables $0.00
Income from investment of funds in Trust Accounts $70,697.74
--------------
Total Available Funds $19,560,641.65
--------------
--------------
Amounts Payable on Distribution Date:
Reimbursement of Monthly Advances $0.00
Backup Servicer Fee $0.00
Basic Servicing Fee $417,734.87
Trustee and other fees $0.00
Class A-1 Interest Distributable Amount $0.00
Class A-2 Interest Distributable Amount $696,826.54
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 $14,279,946.84
Certificate Interest Distributable Amount $248,124.55
Certificate Principal Distributable Amount $1,598,501.51
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 $873,657.34
--------------
Total Amounts Payable on Distribution Date $19,560,641.65
--------------
--------------
Page 1
<PAGE>
II. Available Funds
Collected Funds (see V)
Payments Received $17,829,866.65
Liquidation Proceeds (excluding Purchase Amounts) $1,668,582.82 $19,498,449.47
--------------
Purchase Amounts $0.00
Monthly Advances
Monthly Advances - current Monthly Period (net) ($8,505.56)
Monthly Advances - Outstanding Monthly Advances
not otherwise reimbursed to the Servicer $0.00 ($8,505.56)
--------------
Income from investment of funds in Trust Accounts $70,697.74
--------------
Available Funds $19,560,641.65
--------------
--------------
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) $417,734.87
(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 $696,826.54
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 $14,279,946.84
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 $248,124.55
(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 $1,598,501.51
(ix) Amounts owing and not paid to Security Insurer under Insurance Agreement $0.00
--------------
Total amounts payable on Distribution Date $18,686,984.31
--------------
--------------
Page 2
<PAGE>
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) $873,657.34
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.)
Page 3
<PAGE>
V. Collected Funds
Payments Received:
Supplemental Servicing Fees $0.00
Amount allocable to interest $5,464,858.04
Amounts allocable to principal $12,365,008.61
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 $17,829,866.65
Liquidation Proceeds:
Gross amount realized with respect to Liquidated Receivables $1,733,291.91
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 ($64,709.09)
--------------
Net Liquidation Proceeds $1,668,582.82
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 $19,498,449.47
--------------
--------------
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 $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
--------------
Total Purchase Amounts $0.00
--------------
--------------
VII. Reimbursement of Outstanding Monthly Advances
Outstanding Monthly Advances $1,773,244.70
Outstanding Monthly Advances reimbursed to the Servicer prior
to deposit in the Collection Account from:
Payments received from Obligors ($972,165.37)
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 ($972,165.37)
Outstanding Monthly Advances to be reimbursed out of
Available Funds on the Distribution Date ($972,165.37)
Remaining Outstanding Monthly Advances $801,079.33
Monthly Advances - current Monthly Period $963,659.81
--------------
Outstanding Monthly Advances - immediately following the Distribution Date $1,764,739.14
--------------
--------------
Page 4
<PAGE>
VIII. Calculation of Interest and Principal Payments
A. Calculation of Principal Distribution Amount
Payments received allocable to principal $12,365,008.61
Aggregate of Principal Balances as of the Accounting Date of all
Receivables that became Liquidated Receivables
during the Monthly Period $3,513,439.74
Purchase Amounts - Warranty Receivables allocable to principal $0.00
Purchase Amounts - Administrative Receivables allocable to principal $0.00
Amounts withdrawn from the Pre-Funding Account $0.00
Cram Down Losses $0.00
--------------
Principal Distribution Amount $15,878,448.35
--------------
--------------
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) $153,429,696.58
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 $696,826.54
--------------
Plus any unpaid Class A-2 Interest Carryover Shortfall $0.00
-----------
Class A-2 Interest Distributable Amount $696,826.54
-----------
-----------
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
--------------
--------------
Page 5
<PAGE>
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 0.08333333 $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 $696,826.54
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 $2,142,676.54
--------------
--------------
I. Calculation of Noteholders' Principal Distributable Amount:
Noteholders' Monthly Principal Distributable Amount:
Principal Distribution Amount $15,878,448.35
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% $14,279,946.84
--------------
Unpaid Noteholders' Principal Carryover Shortfall $0.00
--------------
Noteholders' Principal Distributable Amount $14,279,946.84
--------------
--------------
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) $14,279,946.84
--------------
--------------
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) $50,466,010.81
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 $248,124.55
--------------
Plus any unpaid Certificate Interest Carryover Shortfall $0.00
--------------
Certificate Interest Distributable Amount $248,124.55
--------------
--------------
L. Calculation of Certificate Principal Distributable Amount:
Certificate Monthly Principal Distributable Amount:
Principal Distribution Amount $15,878,448.35
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% $1,598,501.51
--------------
Unpaid Certificate Principal Carryover Shortfall $0.00
--------------
Certificate Principal Distributable Amount $1,598,501.51
--------------
--------------
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
--------------
--------------
Page 7
<PAGE>
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
<PAGE>
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
--------------
--------------
Page 9
<PAGE>
XII. Calculation of Servicing Fees
Aggregate Principal Balance as of the first day of the Monthly Period $501,281,846.88
Multiplied by Basic Servicing Fee Rate 1.00%
Divided by Months per year 0.083333%
---------------
Basic Servicing Fee $417,734.87
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 $417,734.87
--------------
--------------
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 $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
b. Amount distributed to Noteholders allocable to principal
Class A-1 Notes $0.00
Class A-2 Notes $14,279,946.84
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 $139,149,749.74
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 $696,826.54
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 $48,867,509.30
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
<PAGE>
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 $417,734.87
n. Note Pool Factors (after giving effect to distributions on the
Distribution Date)
Class A-1 Notes 0.00000000
Class A-2 Notes 0.75216081
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 $50,466,010.81
b. Amount distributed to Certificateholders allocable to principal $1,598,501.51
c. Aggregate Certificate Balance (after giving effect to
distributions on the Distribution Date) $48,867,509.30
d. Interest distributed to Certificateholders $248,124.55
e. Remaining Certificate Balance $48,867,509.30
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 $139,149,749.74
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 $417,734.87
n. Class B Pool Factor (after giving effect to distributions on the Distribution
Date) 0.90495388
Page 11
<PAGE>
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 $501,281,846.88
Aggregate Principal Balance as of current Accounting Date $485,403,398.53
Monthly Period Liquidated Receivables
Loan # Amount
------ ------
see attached listing $5,679.90
$3,504,609.40
($1,097.10)
$4,247.54
$0.00
-----
$3,513,439.74
-------------
-------------
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 $19,070,924.09
Aggregate Principal Balance as of the Accounting Date $485,403,398.53
---------------
Delinquency Ratio 3.92888145%
---------------
---------------
</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: 25
Charge Off Transactions RP2050R
For 9/01/1996 Thru 9/30/1996
Control # 174
C/O Account Loan Principal
Type Number Name Charged Off
---- ---------- ------------- -----------
-----------
TOTAL FC .00
IS 6424044401 ROBINSON 2,489.64
IS 6465000301 KAYS 1,610.15
IS 6672006901 BARTON 354.73
IS 6868005901 SPARKS 1,108.50
IS 7544073201 GREGG 116.88
----------
TOTAL IS 5,679.90
NR 0072013601 HENDERSON 11,990.75
NR 0134001401 NEUY 16,147.61
NR 0170071801 BULTMAN 12,526.42
NR 0341000301 RUTHERFORD 16,855.05
NR 0449000201 CARRIER 30,655.52
NR 0517000901 CLAIR 11,625.83
NR 0524001001 MCCOLLOM 2,350.55
NR 0524002301 STEVENS 25,259.56
NR 0527000201 MOSS 12,969.13
NR 0533000901 GOMEZ 4,887.11
NR 0588000301 LIPPE 8,535.43
NR 0619004001 TAYLOR 6,830.97
NR 0683000401 TRAMEL 10,265.18
NR 0816002001 GARCIA 18,992.77
NR 0880094101 WOODLAND 15,278.99
NR 1001010301 BLINSTON 24,980.22
NR 1001014401 RADIL 15,116.42
NR 1011006801 AHLVERS 19,204.95
NR 1066002601 DAVIS 13,870.22
NR 1081000101 SCHEILZ 17,977.25
NR 1100030101 HINZE 9,925.60
NR 1770034701 FISCHER 19,783.36
NR 2740074201 VREELAND 16,386.82
NR 2740075501 ATKINSON 10,500.39
NR 2780089801 ALDRICH 12,757.19
NR 2783008001 STOKES 7,895.05
NR 2854075501 DAVIS 19,025.99
NR 2929007701 BLAHA 21,545.92
NR 3081018201 ROWLAND 17,899.79
NR 3095008901 FRYE 6,500.19
NR 3182005401 VARGAS 15,561.66
NR 3790063901 STEWART 12,562.48
NR 4042003501 HJORTH 11,186.60
NR 4049004301 ESCOBEDO 13,923.79
NR 4054004901 WRIGHT 14,372.99
NR 4540003401 WASHINGTON 16,773.53
NR 4592006001 GREEN 12,917.81
NR 4678021701 ALVIRA 10,070.14
NR 4752002501 CARDINAL 8,576.81
NR 4816004401 HART 23,428.22
NR 4900009701 LECLAIR 12,447.73
NR 5004046901 ISA 20,031.85
NR 5077008701 BUTLER 9,097.84
NR 5096020901 RUTH 22,173.11
NR 5097018801 SMITH 17,116.20
NR 5116051301 HEWITT 13,667.78
NR 5125007601 WOOD 13,569.41
NR 5127008201 SANYCHANH 11,298.40
NR 5167092201 WRIGHT 18,267.88
NR 5167094601 BROWN 19,922.66
NR 5167096401 TALLY 24,082.57
NR 5167110101 WHALIN 13,453.48
NR 5188012801 PETERSON 22,080.01
NR 5190064301 LEVINGSTON 14,425.13
NR 5190066001 TREADWELL 14,008.29
NR 5190066201 SMITH 15,380.38
NR 5214024301 HAYWOOD 11,589.67
NR 5224065401 GILL 19,720.48
NR 5255001501 YANCEY 13,146.21
NR 5259006201 CARTER 20,348.61
NR 5281008701 KENNIMER 18,379.86
NR 5288037501 LAWRENCE 14,370.88
NR 5293017501 LARSON 20,847.81
<PAGE>
Olympic Financial LTD Page: 26
Charge Off Transactions RP2050R
For 9/01/1996 Thru 9/30/1996
Control # 174
C/O Account Loan Principal
Type Number Name Charged Off
---- ---------- ------------- -----------
NR 5294114001 ARCHLEY 12,931.36
NR 5294127501 MYERS 11,295.03
NR 5294139001 WILSON 19,093.51
NR 5294143601 HARRIS 11,802.26
NR 5312012101 HALL 20,655.71
NR 5356003301 PINON 15,029.87
NR 5358004001 RENTY 15,628.30
NR 5368005401 SHAMBLIN 17,221.32
NR 5368011001 FELL 12,713.35
NR 5371001601 MARCUS 15,952.72
NR 5374002401 NOAH 12,830.87
NR 5680085501 ENLOE 9,448.32
NR 5840020801 MULLINS 22,159.29
NR 6130009201 CARTER 11,645.55
NR 6130009901 SALDIVAR 21,542.06
NR 6152023701 DELANGEL 2,673.36
NR 6155026401 FRAISER 17,707.16
NR 6176002201 SANDOVAL 15,776.14
NR 6189040601 HARRIS 22,822.05
NR 6221080701 BARRERA 17,774.91
NR 6231131901 PEREZ 7,244.58
NR 6247086501 RAMOS 22,523.36
NR 6251015601 LECHINGER 16,655.39
NR 6258020301 LOLLEY 20,364.94
NR 6264038101 TOLAR 15,002.31
NR 6282013201 MALONE 16,785.60
NR 6282015101 MCQUEEN 17,707.23
NR 6290007701 CHAMBERLES 11,215.38
NR 6296031801 GREEN 9,940.58
NR 6331048701 RAMOS 25,761.11
NR 6339005901 SINDELAR 12,637.60
NR 6385015601 THOMAS 12,921.88
NR 6421025301 MOLINA 14,295.09
NR 6421026701 LOCKHART 18,418.89
NR 6423034001 DAVILA 16,327.49
NR 6423039501 WILLIAMS 18,145.58
NR 6424039601 OLSEN 16,030.97
NR 6424041501 THOMAS-WIL 42,610.59
NR 6424043501 WILEY 11,561.04
NR 6424048001 FLEMING 37,538.84
NR 6424049401 SMITH 32,255.69
NR 6424049501 WILLIAMS 19,042.09
NR 6424049701 COLLINS 13,066.79
NR 6424050001 WOODALL 22,827.50
NR 6424050301 LAMBRIDIA 23,418.64
NR 6424061301 HOPKINS 25,727.39
NR 6424063901 LINDLEY 30,511.98
NR 6424069401 THOMPSON 8,170.76
NR 6424069601 LOVREK 3,649.19
NR 6424070201 BULL 17,968.64
NR 6424070601 JOHNSON 16,976.83
NR 6424070701 SAUNDERS 19,830.65
NR 6424071001 JONES 30,587.07
NR 6444009501 MOORES 25,974.54
NR 6444010301 CARTER 11,898.65
NR 6445005001 NICHOLS 8,987.24
NR 6445005201 LAUDEMAN 10,521.11
NR 6445008501 BURTON 11,622.80
NR 6445013201 HENDRICK 20,010.04
NR 6446009701 EDWARDS 22,774.34
NR 6446012801 LEGGETT 19,364.02
NR 6446016301 ROY 15,096.10
NR 6446017201 OSBORNE 12,653.37
NR 6446019201 STEWART 18,123.21
NR 6446021001 SUSTAITA 9,979.57
NR 6446021201 STULLER 25,255.67
NR 6446021401 HARNESS 26,491.58
NR 6446022501 MCCARTY 26,243.29
NR 6447014701 ARCENEAUX 16,294.74
NR 6447018001 MATAMOROS 21,175.17
NR 6447018401 JOHNSON 17,444.93
NR 6447022501 BLACKMON 13,271.37
NR 6448006501 BLANCHARD 19,147.05
NR 6448009401 TAYLOR 17,656.75
<PAGE>
Olympic Financial LTD Page: 27
Charge Off Transactions RP2050R
For 9/01/1996 Thru 9/30/1996
Control # 174
C/O Account Loan Principal
Type Number Name Charged Off
---- ---------- ------------- -----------
NR 6448011901 TERRY 24,970.47
NR 6448012801 FONTENETTE 11,849.38
NR 6468003301 BURKS 15,048.25
NR 6469001501 ARCHIE 10,023.21
NR 6469001601 SHAW 21,942.33
NR 6470000601 SAVANAH 38,781.91
NR 6470000701 BROWN 14,261.65
NR 6470001501 PERRY 21,683.14
NR 6472000901 MATTHEWS 17,116.20
NR 6472001001 HADNOT 10,301.83
NR 6472002801 CHATMAN 11,175.71
NR 6472003101 BARTON 13,872.19
NR 6619027201 COFER 13,148.50
NR 6639010001 ROSE 15,276.46
NR 6704049701 FRENCH 23,037.13
NR 6715040501 FISHER 14,591.90
NR 6817007801 WOLF 8,101.94
NR 6911002201 CAMPBELL 13,124.65
NR 6961001901 ROBERTSON 15,679.51
NR 6970001201 GUNTER 13,518.67
NR 6993001001 COSSINS 9,584.96
NR 6993001101 BRANNON 16,907.32
NR 7060085901 ROGERS 16,558.99
NR 7060100001 378159 3,731.08
NR 7116106301 HOOSEN 6,626.50
NR 7116108101 SOLIS 7,576.50
NR 7143012101 MOORE 10,968.09
NR 7151016501 TIRAZONA 6,859.29
NR 7159013201 KOONS 10,665.60
NR 7182008401 CRULL 16,623.33
NR 7189005101 JOHNSON 6,216.99
NR 7198008901 FRITCH 8,184.90
NR 7268006901 TWIGGS 6,991.61
NR 7305005601 STENGAR 7,230.00
NR 7306012301 SHORE 12,663.07
NR 7365006301 COULSON 5,975.51
NR 7375005701 STROH 4,937.05
NR 7376000501 MOON 7,770.60
NR 7387001001 DEE 10,822.21
NR 7473001601 YARBOROUGH 12,149.30
NR 7479002201 MOORE 8,559.90
NR 7479003301 WALTERS 20,387.90
NR 7501008001 BURKART 12,658.40
NR 7527007201 HARMON 13,987.00
NR 7530017901 REESE 14,482.50
NR 7544067401 SIMMONS 10,777.10
NR 7564010301 SANDERS 11,509.49
NR 7570009701 ANDERSON 13,880.43
NR 7570011201 BOWLES 14,607.67
NR 7616028301 HERRING 21,948.25
NR 7616035101 BATTLE 5,494.22
NR 7654012801 DIXON 11,485.93
NR 7654014201 JONES 13,000.45
NR 7711002001 VAUGHN 21,942.00
NR 8016043701 MAHABIR 41,028.44
NR 8029058601 LIDDELL 21,801.53
NR 8029059901 RAY 17,886.94
NR 8051005101 FAULTNER 17,314.67
NR 8059035401 GONZALES 7,395.33
NR 8089051401 HOLLINGSWO 11,645.68
NR 8093014901 RODSCHAT 15,353.09
NR 8101053901 VASQUEZ 9,866.38
NR 8132006301 MONTOYA 18,877.04
NR 8209005101 GERNHUGER 10,917.04
NR 8261000501 FREDERICK 10,977.77
NR 8359005201 SHADOWENS 13,423.56
NR 8359005801 DAVILA 8,562.89
NR 8421005801 JOHNSON 5,189.24
NR 8427000901 MCCRARY 16,458.53
NR 8466008501 BROWN 11,120.83
NR 8477010401 KING 13,360.73
NR 8517001101 CRANMORE 8,048.54
NR 8530018701 HUFF 18,143.38
NR 8754004001 FOUTS 9,617.00
<PAGE>
Olympic Financial LTD Page: 28
Charge Off Transactions RP2050R
For 9/01/1996 Thru 9/30/1996
Control # 174
C/O Account Loan Principal
Type Number Name Charged Off
---- ---------- ------------- -----------
NR 8772002701 YOUNG 13,417.00
NR 9001000801 WHITBEY 11,883.92
NR 9294004601 PRUITT 14,939.56
NR 9301017501 DAVIS 8,584.82
NR 9311004101 HULL 10,560.15
NR 9315016801 HOFFMAN 20,800.08
NR 9315017801 PERRY 15,514.99
NR 9370031001 ROBINSON 14,181.40
NR 9371067701 KELLEY 16,288.82
NR 9376014401 ALLENDE 9,221.18
NR 9599008801 MILLS 11,249.61
NR 9601039201 BUTLER 16,893.57
NR 9647061401 COPELAND 14,907.10
NR 9648045401 CARTER 22,900.00
NR 9650055001 OSTEEN 12,823.52
NR 9650056201 COLEMAN 14,640.05
NR 9656096601 LESTER 15,795.00
------------
TOTAL NR 3,504,609.40
RR 5224038301 DUNLOP 1,097.10-
RR 5294139501 LUNDEN 136.87-
RR 5294139501 LUNDEN 136.87
------------
TOTAL RR 1,097.10-
SB 0170009201 ZGODAVA 22.03
SB 0300005401 HOYT 693.10
SB 0510010901 AWYAN 9.65
SB 0600002501 QUINNELL 100.83
SB 0890000901 MILLER 524.81
SB 0898000501 MESSING 10.22
SB 0910013401 RESONG 851.25
SB 0970000601 EIDE 37.46
SB 1080000801 OVITT 312.90
SB 1200000901 EDIN CONST .71
SB 1520002601 BROWN 2.62-
SB 1520002601 BROWN 2.62
SB 1560002001 SCHMIDT 44.17
SB 1570002501 PERSAUD 21.14
SB 1630023501 BARRETT 75.64
SB 2746043201 HORN 15.00
SB 2854086301 BEAL 31.64
SB 3024008201 MEYER 2.32
SB 3780054701 MURDOCH 522.35
SB 5082076901 PARNELL 420.21
SB 5160019701 EAVES 10.12
SB 5167080701 COX 13.56
SB 5167104501 REYNOLDS 11.40
SB 5294135501 DILLEY 22.00
SB 5327029301 OKUN 16.96
SB 6247082001 BOARTFIELD 27.45
SB 6424002801 THOMPSON 19.60
SB 6845015101 WAYNER 48.52
SB 6889000201 BROWN 12.27
SB 7013018301 FRENCH 75.72
SB 7013018801 GAOTEOTE 18.72
SB 7126020901 HOLT 4.82
SB 7158015001 CARDONA 14.52
SB 7183042001 HAUSER 12.79
SB 7183045801 DEMIROVIC 10.10
SB 7210042001 BAUER 11.83
SB 7286002301 DELGADO 13.09
SB 7412000401 WHITE 24.20
SB 7540004901 BAILEY 18.18
SB 7632016901 WALDOWSKI 25.51
SB 8070004501 GUEVARA 10.32
SB 8081021101 PUGLIESE 69.72
SB 8108009901 BELYEU 10.24
SB 9239009801 WILLIAMS .00
SB 9294004201 ROBLES 13.38
SB 9315018801 BALDUZZI 19.91
SB 9403007901 PEREZ 11.39
SB 9662011601 DUNN 5.79
------------
TOTAL SB 4,247.54
<PAGE>
TOTAL FOR CTL # 174 3,513,439.74
------------
------------
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